Space Coast Economic Outlook Bleak; Real Estate Recovery Expected in 2011

Slow recovery projected for Brevard
Florida Today

It will likely be 2011 before Brevard County’s beleaguered real estate industry recovers, a process slowed by the county’s reliance on sectors hit hard by the ongoing recession, a leading Florida economist said Tuesday.

“The Space Coast is fairly weak, or weaker than average, because of the contraction in the space program and the dependence on tourism and retirement,” Orlando-based economist Hank Fishkind said in a telephone conference Monday discussing the findings of his annual three-year economic forecast. “Unfortunately, those are the sectors that are most affected by this particular recession we’re having in the United States.”