Study Warns of Imminent Decline in Florida Housing Market

A report out of the University of Florida is warning of an imminent decline in the housing market.

Economists say energy prices probably will increase and interest rates aren't likely to compare to the low levels of the past several years.

The analysts say there will be downward pressure on housing prices. The report comes in a survey by the University of Florida's Bureau of Economic and Business Research.

The survey says homeowners who were expecting a quick turnover in purchased property will no doubt be forced to hold on to it longer. The forecast is that the housing slowdown will have an effect on other areas of the economy.

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