Is Florida real estate bubble about to burst?

[+ Vegas_Millennial]

On 6/25/2024 at 9:10 AM, SouthOfTheBorder said:

 with real estate it’s also about desired quality of life if the property is primary residence.  the Florida market is flush with real estate listings & in the last 12 months has turned into a buyers market…..it does seem like the Covid FL real estate bubble is over. 

Hooray!  I'll be looking to buy in the next few years.  This is a good sign that I'll be home shopping in a stable housing market with more properties to choose from than there are listed now.

Living in Las Vegas,  I've had stability of living in the least disastrous metropolitan area in the U.S. (no hurricanes, tornadoes, winter storms, wild fires, or mudslides. Flooding has mostly been mitigated over the past few decades.  Our biggest natural disaster is earthquake, and we're about 50 times less likely than California to have a big one).  But I can only take so much rocks and no trees.  To get trees, you need water.  To get water, you need rain/snow/storms/hurricanes.

When I buy in Ft Lauderdale, it will be for the way of life.  Property taxes, insurance, and home maintenance are my equivalent of rent to enjoy what the area has to offer.  As others have said, you get what you pay for.

[Frequentflier]

On 6/12/2024 at 1:52 PM, Vegas_Millennial said:

Agree.  The 2008 collapse was caused by too many loans given out with relaxed lending standards with minimum down payments and tricky interest-only or balloon payments, and with relaxed income verification requirements.

For now, Florida remains the state with the highest percentage of all cash buyers.  Prices may drop, but people won't be walking away from their properties and banks won't be foreclosing in mass.

Cash Is Key: The Top 10 States for All-Cash Home Sales | New American Funding

WWW.NEWAMERICANFUNDING.COM

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Cash offers can give you an advantage in any market. Find out which 10 states are the best for all-cash home sales

According to this listing, Florida isn't even in top 10 for all cash sales in 2024.

[+ Vegas_Millennial]

4 minutes ago, Frequentflier said:

Cash Is Key: The Top 10 States for All-Cash Home Sales | New American Funding

WWW.NEWAMERICANFUNDING.COM

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Cash offers can give you an advantage in any market. Find out which 10 states are the best for all-cash home sales

According to this listing, Florida isn't even in top 10 for all cash sales in 2024.

Thank you for providing.  My data was from 2023.

According to the map in your article, Florida is still in the top half of states with highest percentage of cash buyers.  This helps alleviate concerns that Florida will be the center of a real estate problem caused by foreclosures.  More people better be leary of California.