Florida collapse just got worse. Builders now ABANDONING projects.

The Florida Housing Market downturn continues to get worse in 2024, with home builders now being forced to abandon projects before completion.

That's because the numbers of homes for sale and inventory across Florida's housing market has spiked over the last two years. In cities like Orlando, Davenport, and Lakeland, supply of homes for sale is flooding the market fast.

Don't be surprised if home prices in Florida drop significantly in 2024 and 2025. Especially in areas with a big concentration of Airbnb investors. These Airbnb investors are now selling due to a downturn in the market, which is putting more inventory for sale.

Realtors across Florida should also take note. The market is shifting fast, and it's important that you provide your clients with the most up to date data and market analysis. Head to Reventure App to find the data for your city and ZIP code.
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[ReventureConsulting]

The surge in inventory across Florida right now is breathtaking.

In this ZIP code that I'm in the number of homes for sale has spiked by 500%. And the market is turning down fast.

Access the data for your city and ZIP on Reventure App right now: www.reventure.app

[micheal_mills]

High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.

[nicolasbenson]

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.

[GillerHeston]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[Pat_laura]

This is a really interesting take on the housing market. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?

[xylspyc]

No trees… nothing worse than being able to look through your window and knowing what your neighbors are cooking for dinner in their kitchen…. Houses touching houses is not a vibe

[WilliamsTyler]

There is an equal market chance associated with every crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.

[SCARFACE]

Home prices in Florida have tripled since 2019. Nobody wants to buy a $200, 000 house that's now $600, 000, and will probably be a $300, 000 house in 2 years.

[leedanielson]

Housing all over Florida is way way overpriced!!!

[luisbelisario]

What a crime how fast the once beautiful Florida is being bulldozed. Once called the Wilderness State 😢

[Pilostudio]

I said this phrase in 2006-2007 and been repeating it for the last 2 years "When the middle class cannot afford the middle home the system is undoubtedly in a bubble" .
I remember getting the same responses "Miami is different because the foreign money, is different because weather, is different, bla bla bla..." and what ended up happening was that Miami was one of the markets with the largest declines from 2008 to 2011

[stopjockin]

Tons of people leaving Florida now.

WAY too expensive now. The property home owner insurance, the taxes, the utilities, car insurance is INSANE!!!

Hope all Airbnb Jag Offs/Investors get what they deserve!

Homes should be for families to buy in order to provide their family a place to live, and NOT for investors to fleece the public!!!


007

[johnbowhunter]

High prices, high interest rates, and high insurance rates….. it was bound to crash!

[brianh]

Florida has a homeowners insurance problem. It's gotten so bad that it's forcing people to leave the state.

[joelastre]

I lived in different parts of Florida for almost 30 years. I always had a decent job, and stayed in relatively nice areas. Never too far from the water, in low crime neighborhoods. And even with all that, I can tell you that living in Florida is GROSSLY OVERRATED.

It might be a great place for snowbirds to get away from the cold. But it's not the place you want to live full time. Florida is NOT what they show you on instagram or in the movies. And It's not nearly as 'posh' or 'cool' as realtors (or other interested parties) want you to believe. Trust me.

[Ron]

I'm in North Jersey and there's a home listed for $499, 000 that's under contract that isn't worth a dime over $300, 000, if it's even worth that. People, don't be suckered.

[jenya]

Yeah, these prices aren’t sustainable.
How can an area with 50K hh income afford houses for 400K? I don’t understand

[ygts]

You walking through the streets makes me so damn happy I live in the Netherlands. There's people on the streets, greenery, variation, curves in the roads, etcetcetc

[marka.]

In Tampa, where I live, people are getting quoted $7, 000 per year for homeowners insurance on 500, 000 dollar homes that aren’t near any water and aren’t in a flood zone, others are being quoted $17, 000 and up annually.
People in neighboring states are paying $1, 000. annually for homeowners insurance.

[ericdelevinquiere]

These houses look sad, regardless of the price. Honestly, low 200 is about what they are worth to me if that much. So that’s still 30% overvalued, especially considering that area is really in the middle of nowhere!