Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm not talking about Miami or Portland. Small towns in both.
A 15 year old was in the news recently because she bought two houses on the gulf coast of Florida (good neighborhood, I believe) for $12k and $18k. The first house needed $15k in renovations and was later rented. She plans to rent the second house for $800/mo.
Construction and overspeculation during the housing bubble were stronger in Florida than in Oregon. I would assume that the weight of that excess inventory is driving down prices in Florida relative to Oregon.
Wow! Looks like she bought a bunch of dilapidated crack houses in Ft. Meyers. I'm sure those places aren't anywhere near the coast either!
The second house at least was in Port Charlotte. The CNN piece mentioned "Girard Court". I don't know where that is. Some other news article mentioned that they aim to buy cheap houses (in need of repairs) in good neighborhoods.
How is Oregon "sparsely populated"? It has almost 4 million people total, basically right in the middle of the list in terms of total populations in the US. Sparsely populated is.. Idaho, Montana... maybe even Vermont. It's just not very dense.
The bigger question is... how much of Oregon's land is habitable? That would factor in the prices.
The majority--over 70 percent--of Oregon's population is in the a 120 mile stretch of the Willamette Valley from Portland to Eugene. Eastern Oregon is very sparsely populated except for Bend in Central Oregon and most of Western Oregon outside of the Rogue Valley or few spots coast is very small towns for the most part.
One reason that houses in much of Oregon have kept their value as opposed to Florida is simple--supply and demand. Oregon cities have urban growth boundaries and restrictions that restricts new development outside of the defined urban areas. On the other hand if you look at housing prices in much of the Oregon Coast it's much cheaper than California--and in parts of Eastern Oregon you can buy acres upon acres of cheap land--though there's nothing out there but antelopes and rattle snakes. Which is why it's better to compare city/towns to each other rather than states in terms of real estate prices. It'd be better to compare Portland to Miami or Tampa or Orlando or compare somewhere like Seaside, Oregon to a smaller beach town in Florida.
Where my grandmother lives in Flagler County, Florida, they went from 15,000 people to almost 100,000 in twenty years. Her ranch house on a canal went way up in value eight years ago(from under $100,000 to $400,000)--now it's back down to what it was worth in the 90s. Too many homes were built and the result was a glut of cheap properties.
How come houses are cheaper in Coastal Florida than in the relatively sparsely populated small-town Oregon?
Better weather? Imo, Florida summers are atrocious: high humidity with temperatures reaching near 100 degrees (especially Central Florida and further south) means being outside is a very miserable proposition. Your clothes stick to your skin like glue.
No doubt that means it's much easier (i.e. cheaper) to cool/heat a Willamette Valley home than one in Ft. Lauderdale. Those costs are rarely factored into housing prices. Also, Florida experienced a much more serious housing downturn during the 2008-2009 crash than Oregon, and housing prices still haven't fully recovered. I'm sure they'll be back up to their overpriced self within the decade
Basically supply and demand but here are some factors that affect that:
- Florida has higher property taxes
- Oregon has no ghetto are bad crime areas.
- Much of Oregon land is government owned
- Californians buying up Oregon properties
- Oregon limits property rights and development and you can only build in certain locations in certain conditions
Basically supply and demand but here are some factors that affect that:
- Florida has higher property taxes
- Oregon has no ghetto are bad crime areas.
- Much of Oregon land is government owned
- Californians buying up Oregon properties
- Oregon limits property rights and development and you can only build in certain locations in certain conditions
Damn those Californians!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
