Colossal investor selloff happening in Florida. The Housing Crash is here.

Florida's Housing Market has reached the point of inflection, where the crash has begun. Homes for sale and inventory have spiked across markets like Orlando, Tampa, Sarasota, and Lakeland. Meanwhile - investors are now rushing to the door to sell properties before home prices crash.

This spike in listing and inventory is now forcing sellers in Florida's Housing Market to reduce prices. Particularly real estate investors who bought at the peak of the bubble in Florida and are quickly going underwater on their mortgages and financing.

And when home prices in Florida drop, I'm skeptical that the buyers will be there to revive the market. That's because living and buying a house in Florida has gotten way too expensive over the last several years. Especially now with insurance and HOA costs skyrocketing across the state.

One market that has turned down as of late in Florida is Lakeland. Where inventory has now skyrocketed to the highest level in 7 years. Another market like this is Palm Bay. With another being Osceola County near Orlando. All of these areas are experiencing suppressed buyer demand combined with a flood of new listings.

Homebuyers buying in Florida in 2024 need to be careful as a result. While the state has good long-term growth potential and should appreciate well over the long-term, buying into the market today could result in a loss of equity and downpayment.
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[ReventureConsulting]

The spike in new listings in Florida's Housing Market right now is alarming.

Cape Coral, Jacksonville, Tampa, Osceola County, Palm Bay, Sarasota are all experiencing it. Investors are selling and the pandemic migration boom is over. Inventory is spiking and the initial slate of price reductions has begun.

Meanwhile - Southeast Florida (Miami-Dade in particular) is still holding on. But for how long?

Just like the during the last downturn, there will be some good deals to be had in Florida during this downturn. A market that has great long-term growth prospects.

But to achieve strong long-term growth, prices need to get more affordable. Especially with insurance and property taxes across the state spiking so high.

Head to Reventure App to track Florida Housing Market data for free, specifically Home Value and Inventory data for your ZIP Code. www.reventure.app

[HodgeChris]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[williamyejun]

I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

[darnellcapriccioso]

I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

[JuanCarlos_J]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favourable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich.

[codeblue]

We can't ignore the potential impact on portfolios. Bonds are often considered a safe haven, and if they crumble, investors like me might scramble. I’ve been investing for 11 yrs and my $1m portfolio has never been this depleted, how i do hedge this?

[AllenNichol]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[tonysilke]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[sarawilliam]

A perfect storm is brewing in the United States. Housing prices, Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund which has been sitting duck since forever with zero to no gains.

[kelvinjohnson]

A housing crash worse than 2008 can indeed have significant repercussions on the stock market. My stock portfolio is already losing roughly 35% since Q2. I’m thinking of diversifying my remaining $600K in my portfolio.

[KarenLavia]

Great video! For 2024, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[ljubastajic]

It's really difficult to sell right now. Most people in my area thought they made it big last year and can't sell now.

[TonyPow-ecmr]

Recently my wife and I just sold two real estate properties in the Bay Area for a total sum of $616k due to foreclosures. We plan to purchase a new house next year, the cash is just sitting in our joint savings account What do you recommend we do? I will appreciate any suggestions.

[IS-jydx]

In North Port, Florida, inventory of single family homes went up 72 homes in about 10 days, and as of today the total number of SFH for sale in North Port is 872 and it goes up every day

[AwokenEntertainment]

wow! let's see if this spreads nationwide... 👀

[InMyBrz]

The INSURANCE and TAX problem has to be solved BEFORE people start buying in Florida again
I remember 50 years ago when we had the same INSURANCE problem happened and they were leaving the state

[diesel]

One of the biggest worries is Government intervention bailing out the big investors continuing to hurt us little ppl.

[AJourneyOfYourSoul]

Florida has always been volatile, with huge ups and downs, all while the rest of the country is fine.

It wouldn't surprise me at all if it crashed.

The huge increase in property taxes and home insurance aren't helping.

[nodaysoffmusicgroupllc.]

Review Condos in downtown Tampa. Crazy amount of inventory, one dropped price 10% last week been on market for 3 months. Best part. They are building 3 major luxury condos in the downtown area as we speak. Inventory going nutssss. Not to mention my rent is 4K my mortgage, HOA and taxes to buy this place would be 8k EASILY. Why would anyone buy right now?? It’s about to be a bloodbath my friends!!!

[ES-mccc]

The insurance (home and auto) is so high in FL that it's unreal.