Florida housing market

I wish he would have removed the word hurricane instead, but perhaps you would need a sharpie for that

 

I’ve got one that works good for me, they just come up on my FB marketplace feed.

 

I’m really curious what % of single/multi family homes are used for Air B&B. Be willing to bet that’s had some impact as well.

 

surprisingly, Europe has more bnb listings by far. almost 2x N America


Airbnb Statistics [2024]: User & Market Growth Data (searchlogistics.com)

 

2.25 million listings in the US as of 2021, man that would put a dent in the housing shortage.

Not advocating they be outlawed for the record.

 

could repurpose all that unused commercial into hotels if the demand was there

 

What bad lending practices are you referring to? How can "pricing" be a bad practice?

 

Yep.

Another thing I don’t get in my area there are numerous empty commercial spaces yet I see new buildings going up almost next door. Seems silly. I’m sure the cites don’t mind with new buildings adding to the tax base.

 

Then why is inventory rising?

 

Strawman. I didn't say that.

Temporary rate buy-downs, adjustable rate mortgages, exceeding debt-to-income ratio allowance guidelines, downpayment assistance for otherwise unqualified buyers, etc...

 

This is not really a response to what I said.

 

Subject to seems like a big risk given the current rates. Lenders would be happy to get rid of low rate mortgages.

 

This isn’t 2008. Banks have kept tight lending practices have even tightened loan practices more recently. We don’t have a weak loan market. It still responds to the economy but buyers are at least qualified.

The April 2024 Senior Loan Officer Opinion Survey on Bank Lending Practices

 

I didn’t say it’s 2008. The problems aren’t exactly the same but there are similarities. The lending practices are not as tight as you suggest. Yes, the application process is more stringent, but the amount given to buyers is troublesome. The low interest rates coupled with irresponsible appraisals created a self-licking ice cream cone of rising property valuations and subsequent purchase offers.

Look, I get it. You are probably a home owner sitting on a good chunk of equity, and you want it to keep going up. I sold near the peak and already captured that equity. We both have biases, however, I think that I am making more complete and balanced arguments. You are ignoring critical factors to suit your narrative.

 

I'm surprised it took this long with the interest rates so high. The number of homes built in Florida in the last 3-4 years is depressing. The middle of the state has hundreds of thousands of cookie-cutter neighborhoods. The state should have collected a simple impact fee from out-of-staters.

I read yesterday Tampa has the highest growth of inventory.

 

Falling prices and rents are a good thing for people who need a place to live.

 

The home price growth in places like Florida is unsustainable, considering the local wages.

 

Other than gut, since I linked the Feds survey of senior loan officers, what indicates lending practices are not as tight as I think?

I have zero concern about the personal impact of the housing market. I dont plan on selling my homes. I bought both to transition into retirement life when I become an empty nester since half my kids are gone.

You think a softening housing market from all time highs is an issue? The whole country wants a less competitive housing market but that wont happen over night. As soon as prices go up there are people shouting about a crash. The housing fundamentals are strong. Low supply, qualified loans, solid economy. I expect it to slow down from the record tight market as a normal person would.

 

You should have called me first!

 

Lot less married couples. That requires more houses/apts

Married-couple households continue to plummet across US

Married-couple households continue to plummet across the U.S. as the number of one-person and non-married households rise, U.S. Census Bureau data reveals.
The findings, from the bureau's "America's Families and Living Arrangements: 2022" report, reveal that the percentage of married-couple households fell from around 71 percent in 1970 to about 47 percent of all households in 2022.