The Disney Company is betting against the struggling Florida housing market with plans to build million-dollar luxury homes near its Orlando theme park.
"Disney will offer homes priced between $1.5 million and $8 million in a state where the foreclosure rate remains among the nation's highest. In Orlando, where brokers say home values have dropped between 50% and 60% from the peak, Disney's pricing would put its homes near the top of the market. According to Realtor.com, the average price of new listings in greater Orlando this year is just over $243,000."
While most of the market is down, officials in the company believe the market for luxury homes is on the rebound.
Read the full story: Disney World's New Thrill Ride: Selling Luxury Vacation Homes
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