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Bubble implies inflation by little more than hot air. In the last bubble, it was exceedingly easy money to borrow, so much so that speculation alone often drove demand.
This time it's constrained supply, mostly. Is there likely to be a flood of inventory to pop the bubble? I kind of doubt it. The bubble will stop expanding, maybe slowly deflate a little at worst.
One thing we are seeing here in Northeast Florida that we did not see before the last crash was all cash offers.
Retiring Baby Boomers who made out tremendously in the last year with investments and historically low mortgage rates are the two biggest drivers I think in this boom.
It is pretty incredible here in our area with just about zero inventory and new construction changing their prices every three months.
One thing we are seeing here in Northeast Florida that we did not see before the last crash was all cash offers.
Retiring Baby Boomers who made out tremendously in the last year with investments and historically low mortgage rates are the two biggest drivers I think in this boom.
It is pretty incredible here in our area with just about zero inventory and new construction changing their prices every three months.
Florida has always been very inexpensive for housing. It's still "cheap" compared to many northern localities, but that may be about to change.
Florida has always been very inexpensive for housing. It's still "cheap" compared to many northern localities, but that may be about to change.
I read an article recently stating the opposite, that real estate prices in Florida may possibly continue to decline. Well, coastal cities at least, due to rising sea levels and water encroachment. Interesting to consider.
I read an article recently stating the opposite, that real estate prices in Florida may possibly continue to decline. Well, coastal cities at least, due to rising sea levels and water encroachment. Interesting to consider.
1. It's highly debatable if this will happen at all.
2. No one can predict with any degree of confidence when it would happen, or if it will happen at all. It might be 30 years, 50 years, 100 years, or quite possibly never.
3. Even if it did happen some time at some decade or century in the future, it would happen to only a very small percentage of the homes in Florida. And since these homes are the ones on or very near the coast at very low elevation, they are probably at much greater risk of flood or wind damage from hurricanes than they are from the ocean level rising 6 feet or some such number.
4. You can always find someone willing to predict some sort of tragedy or calamity that MIGHT happen at some indefinite time in the future, and very few of these type predictions come true.
1. It's highly debatable if this will happen at all.
2. No one can predict with any degree of confidence when it would happen, or if it will happen at all. It might be 30 years, 50 years, 100 years, or quite possibly never.
3. Even if it did happen some time at some decade or century in the future, it would happen to only a very small percentage of the homes in Florida. And since these homes are the ones on or very near the coast at very low elevation, they are probably at much greater risk of flood or wind damage from hurricanes than they are from the ocean level rising 6 feet or some such number.
4. You can always find someone willing to predict some sort of tragedy or calamity that MIGHT happen at some indefinite time in the future, and very few of these type predictions come true.
People have been saying this since at least the early 90s that by 2020 Long Beach island NJ would be completely underwater. Yet literally nothing has changed. If it was supposed to be “completely underwater” by now you’d think this would be at least partly underwater, but it’s not. The beach front homes are all still standing, the bay front homes are all still standing. And democrat politicians are still buying beachfront homes too.
People have been saying this since at least the early 90s that by 2020 Long Beach island NJ would be completely underwater. Yet literally nothing has changed. If it was supposed to be “completely underwater” by now you’d think this would be at least partly underwater, but it’s not. The beach front homes are all still standing, the bay front homes are all still standing. And democrat politicians are still buying beachfront homes too.
Maybe it's all just a ruse to drive down the value of the property they would like to buy so that they can buy it on the cheap.
I read an article recently stating the opposite, that real estate prices in Florida may possibly continue to decline. Well, coastal cities at least, due to rising sea levels and water encroachment. Interesting to consider.
I read an article recently stating the opposite, that real estate prices in Florida may possibly continue to decline. Well, coastal cities at least, due to rising sea levels and water encroachment. Interesting to consider.
the prices are not and have not been declining... my home has almost doubled in value in 3 years... paid 110k, can sell easily for 190ish and im in a coastal town..
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