Jacksonville has decided to turn the streetlights back on in its business parks, rescinding a cost-cutting measure after real estate companies complained it was hindering business recruitment. The move comes none too soon, because Jacksonville's economy seems to be slowing.
In 2010 and again in 2011, the metro area created roughly 8,000 net new jobs. In 2012, the increase was only 5,000 jobs.
The residential real estate market looks healthier. Home prices were up 7.3 percent in the fourth quarter of 2012 compared with a year earlier. With 34 months' supply of foreclosed homes selling at a 32 percent discount, there are deals to be had. The housing market may be a little stronger because Jacksonville has the highest homeownership rate of the 25 most populous US cities, according to a study by website NerdWallet.
