Found some interesting reading from Forbes via MSN
Where will real estate bounce back fastest?

The link:http://realestate.msn.com/Buying/Article_Forbes.aspx?cp-documentid=5008065

Tampa, Fla., is a perfect candidate for a V-shaped recovery, according to research from Moody's Economy.com, an economic analysis, forecasting and credit risk firm in West Chester, Pa. The local economy remains strong, and subprime lending is relatively low. Tampa's problem? A high investor share that led to high vacancy rates. When the market turned sour in 2005, more than 25% of Tampa homes were owned as investment properties. Investors are quicker to flee during a downturn, thus creating a glut of available housing stock. In Tampa's case, vacancy rates now stand at 3.5%.

"As investors exit, the market revives," says Mark Zandi, chief economist at Moody's Economy.com, as fewer speculative buyers result in a more stable market. "Tampa's a pretty affordable market, and first-time buyers can come in once prices fall."

Based on Moody's Economy projections, Tampa should burn off its excess inventory and hit a price trough in the first quarter of 2008, at which point prices are expected to increase by 10.6% the following year.

These projections take into account housing affordability, vacancy rates, the strength of the local economy and job market, investor share in 2005 and the share of subprime mortgages. Data are from Moody's, the Bureau of Labor Statistics and the Federal Reserve.

Predicting the bottom of any asset market, especially real estate, is a difficult thing. While these projections are based on sound data and advanced modeling by Moody's, no one can predict futures markets with absolute certainty.



Positive outlook for Tampa and an interesting read.

I read something to that effect months ago it seems.

Though what I remember was an expected 7% jump in '09.