Leap,
Pinellas County is just about built out. There is no feasible way to add affordable housing stock. Yes, you can build in adjacent counties and that can relieve some of the pressure, but many people will still opt to live here in Pinellas. I agree that speculators have been pushing prices up in the higher end condos. However, my 'thoreau' style inexpensive condo almost can't go down. They aren't making any more units like it, and people are looking to move here everyday. I have looked at some low rent apartment condo conversions and the prices are well above my 'thoreau' style home. Yet my location is great, I can walk downtown and along the waterfront, ride my bike to several beaches. Even if the real estate market crashes, I expect my unit to appreciate. Not that it would help me much, as I have no intention of ever selling.
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