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Wednesday, December 6, 2006
Stabilizing the patient
First came the National Association of Realtors’ Pending Home Sales Index on Monday, which said activity (down 13.6 percent) is “stabilizing.”
Then came the Associated Press, which sees “stabilization” in Toll Brothers’ fourth-quarter profit drop of 44 percent.
Let’s ponder. If 60 is the new 40, “way down” is now a synonym for “stabilizing.”
If you were lucky enough to buy TOL at $22 back in July, you’re feeling plenty stable. If you’ve been holding on since last year’s high of $58, though, your portfolio’s a little destabilized.
In other stabilization news:
Mortage rates are stabilizing, aka falling, Bankrate reports.
State Sen. Jeff Atwater hopes to stabilize Citizens’ rates, aka keep them from skyrocketing again.
The Miami Dolphins’ playoff hopes are stabilizing, aka near-death.
The Florida Gators’ hoops team is stabilizing after losing two games.
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Skyscrapers in Clewiston?
In 50 years, rural Hendry County will look as suburbanized as Wellington and Port St. Lucie. That’s according to a study released today by 1000 Friends of Florida.
The study predicts “an almost continuous urban strip extending from eastern Fort Myers to West Palm Beach.”
Of the state’s 67 counties, 1000 Friends predicts Glades, Hardee, DeSoto and Hendry will change the most. Glades and Hardee will have at least 14 times as much urban development as they do now, the study says.
Hendry County, home of Clewiston, borders Palm Beach County’s western edge. Hendry is best known as headquarters of U.S. Sugar. It’s also perennially suffers from the state’s highest unemployment rate.
Thursday update: Read the Post’s coverage of the study here. And click here for the St. Pete Times’ story.
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