Here we will focus on the economy of our country and specific events and developments that impact Ocala locally.
Our area has rapidly expanded over the last decade. In fact, it has well surpassed the country as a whole in terms of economic growth. The Chamber Economic Partnership works in close cooperation with county and city governments and has drawn major businesses into our community with success. Additionally, these businesses have created a significant number of high paying jobs. However, the World Equestrian Center, anticipate to open in early 2021, will change the game.
This veritable Disney World for equestrians will draw competitors from far and wide. Many will come to participate in various equine events. New inhabitants will migrate into the area as well. They will come to fill tens of thousands of newly created jobs or to enjoy equestrian actvities. Amazingly, the W.E.C. facility will to cause revenue generated locally by the equestrian industry to rise exponentially. The industry brings $3 billion per year into our community. However, it is expected to more than triple that to over $10 billion in the next few years.
But there are other factors that impact both the national and local economy. Currently we are living in the shadow of the COVID-19 pandemic. Almost a million people have died worldwide and Marion County has suffered with everyone else. We will report on the impact of events such as this on our economy as well. We will also report insights from such Nobel Laureate economists such as Paul Krugman and Robert Shiller in order to stear away from urban legends and towards science.
Today Ocala housing demand is off the charts. However, opportunity almost passed us by. Many years ago, an entertainment industry giant imagined a new Ocala. He could see into our future, and what he saw was truly visionary. Marion County would be the second coming of Disneyland, albeit on a much grander scale. Surrounded by …
Ocala home sales are setting records year over year. Despite a market dominated by health concerns generated by a generational pandemic, demand has set a pace seldom seen before. Additionally, historically low inventories and interest rates have generated a whirlwind of repercussions. According to Realtor Magazine, the median sales price of an Ocala home has …
Ocala Faces A Contradiction: Our Future Is Bright, Yet The Pandemic has Taken Its Toll This community is a great place to call home. Of course, the future of Ocala is bright indeed. But while our economy is set to explode, some struggle to survive the pandemic. Many small businesses need our help. Undoubtedly, the …
The Ocala economy will continue to rebound in 2021 and its long term prospects are certainly rosy. However, nationwide growth may be slower than forecast several months ago. In addition, the impact of the pandemic on small businesses is just now coming into clearer focus. It may be worse than initially projected. But despite the …
The Ocala CEP has been named National Chamber of Commerce of the year for 2020. After several years of being a national finalist, the CEP has finally been recognized as the best of the best. Our friends at the chamber have certainly earned this great honor and we solute them with pride. A Brief History …
Our rapidly growing metro area is broadening its horizons and has much to offer beyond equestrian pursuits. For example, in Ocala, scientific research plays a focal role as well. At the center is the C.E.P.’s incubator program. Our Chamber of Commerce, Community Foundation, city and county governments have united to support this endeavor. Its purpose …
Ocala home trends offer surprises. We are living in uncertain times and intermediate housing market trends are unclear. For example, after an eight week period that saw year over year single family home sales drop by an average of 33.8% per month, June saw a huge and unexpected rebound with sales outperforming those of June, …
The June World Bank Report and its Implications: The World Bank issued its report on the expected economic impact of the pandemic earlier in June. Unfortunately, the predictions are ominous. Bank economists project the worst economic contraction in decades. They forecast that world GDP faces a 5.2% contraction year over year in 2020. All countries …
The Nobel Laureate: Robert Shiller, the Sterling Professor of Economics at Yale, has an interesting take on economic recovery. Dr. Shiller won the Nobel Prize in economics in 2013 for research into the impact of perceptions on asset prices. Additionally, he is famous for publishing his index of home prices. He publishes the Shiller index …
Forces at work in the Ocala real estate market: Should you list your Ocala home for sale today? We are living in an environment of fear and uncertainly. However, calmly examining our economy and your financial situation will enable you to answer this question in a way that is best for you and your family. …
The CARES Act Offers Homeowners the Option of Forbearance Best intentions frequently have unintended consequences. The CARES Act is the third of four pieces of legislation passed thus far, to mitigate the economic impact of COVID-19. It has a forbearance provision designed to help homeowners to stay in their homes. Under this provision, borrowers with …
Today we are living with life threatening health issues and uncertainty as to direction of the world economy. Of course, the Ocala economy is not exempt from the forces at work. The doomsday prophets among economists are predicting an economic contraction unseen since the Great Depression. However, Nobel laureate Paul Krugman is more optimistic. In …
The Dangers We Face: Economic hope is the thought for the day. Since the world fell under the grip of COVID-19, central banks began to drop interest rates to stimulate the world economy. In the United states our Federal Reserve took action quickly. Real estate buyers, not yet gripped by the fear we see today, …
Focus on the future: We find ourselves in the grips of a deadly pandemic which threatens our lives and the world economy. Over thirteen hundred Americans passed on April 4th alone and things are likely to get worse before they get better. But amid the devastation, scientists are planting the seeds for a brighter future. …
We at the Ocala Lifestyle Blog are excited to share that Biosysco’s equine division is coming to our city. Biosysco has developed a technology that stimulates muscles, thereby speeding the process of recovery from strenuous activity. The process also enhances muscular growth and development. This technology was designed to help human athletes, from weekend warriors …
Welcome. Today we publish the first installment of our new Ocala Blog, your online source for information about all things Ocala. Since Ocala is a thriving, rapidly evolving community, there is always something interesting going on here. Although we will be emphasizing issues of interest to home sellers and buyers, we will also delve into …