https://robbreport.com/shelter/homes...us-1235599186/
Florida and Texas, both of which were some of the hottest housing markets during the pandemic, are now seeing a surplus in unsold properties, and as a result, sellers are slashing prices, according to a new report by real estate site Redfin. For context, on the west coast of the Sunshine State, the number of homes on the market jumped roughly 50 percent from a year ago in metros such as Cape Coral and North Port. And in Mcallen, Texas, inventory jumped 25 percent compared to March of last year.
Whoa!
Crazy if true!
This is just the beginning. The inventory that will exist in the next 10 years in these two states will prove to be a waste of resources.
Almost as if planning things on temporary changes in migration was a stupid decision. Just like planning to build homes based on a subset of the population that will be deported soon is also a stupid decision.
Last edited by thethe; 05-13-2024 at 12:38 PM.
Natural Immunity Croc
don't worry... boomers and well off people will always protect the housing supply. Their houses are worth millions of dollars. More housing would threaten that.
Those 30 year old kids can keep their roommates in the apartment box to ensure those housing values are protected
"I can't fix my life, but I can fix the world" said the socialist
Or we can do what actual economist suggest, which is to build homes.
Florida and Texas don't have a housing crisis, by the way. And they aren't looking like they will have some any time soon. Having enough affordable inventory on hand is a good thing. I know home owners don't typically like their value going down, but in the long haul it makes a healthier economy.
People don’t want to live in Texas and Florida. It’s just cheaper. Prices will come down in hot spots like NY and Cali and since those places are actually attractive (outside of politicians [majnly cali])
Natural Immunity Croc
This problem solves itself. Homebuilders will stop building homes if there is no demand. We don’t need government regulation to find the sweet spot.
I don’t even understand what you are proposing. What are the governments of Texas and Florida doing that you are opposed to?
acesfull86 (05-13-2024)