'Human Directionals' Called On In 'Competition'

The Herald Tribune reports on the overbuilding in Florida. "One of the state's pre-eminent economists says what a lot of people have been saying: Southwest Florida can't sustain the pace of its housing industry growth." "'Over the past year we have seen an explosion of activity for new residential building permits,' Hank Fishkind said. 'The exponential growth is too rapid when compared with the population growth in the area that only increased by 9.7 percent in the last two years. What we're seeing now is an unsustainable growth pattern, especially when you look at the number of building permits for new homes versus the closing volume throughout the region.'" "While his comments derived from data that came out of Charlotte, Collier, DeSoto, Hendry and Lee counties, Fishkind echoes concerns that have been expressed by other economists about this part of the state in general." "Fishkind says there's a large gap between the number of permits being issued in Southwest Florida and the number of sales contracts that are being closed on single-family homes. Lee County, which includes Fort Myers and Cape Coral, might offer the best example." "In November, there was an 88 percent difference between the 587 single-family home sales that closed and the 1,104 building permits that were issued. In October the gap was even wider, 566 homes closed and 1,408 permits issued, a 217 percent differential." "The pattern in repeated in almost every other market in Southwest Florida, Fishkind said." That may explain this trend. "Sometimes called 'human directionals,' they are young, enthusiastic and a favorite advertising tool of condo converters. 'We had flags and signs and thought we were complying with the code. But the city of Miramar said it was a violation so we took them down,' Teresa Alvarez said. Although various businesses use them, competition in the condo market is forcing converters to find new ways of getting the word out to potential buyers." ""Virginia Bosch uses high school girls, all friends and relatives, to stand on the 17th Street Causeway and on Federal Highway in Fort Lauderdale. 'It's not like they're out there working for a stranger,' said Ernesto Del Monte, (who) is converting the Sea Breeze. People come in just because of the girls.'" "People like cosmetics distributor Sheila Ryan. 'I saw the girls with the signs and had some time. So I checked out the units, loved what I saw, went to get a cup of coffee and came back and put my money down,' she said." "'We pay them well, especially compared to McDonald's,' Mitch Dutia said."