Posted on 11/28/2022 7:12:09 AM PST by devane617
Florida seems to be a state that people are always flocking to and never leaving, with its temperate weather, great beaches and lots of excellent attractions. However, even Florida is feeling the results of market forces, which are increasing mortgage rates, driving up home prices, and thus driving out people. In fact, the Florida cities on this list are showing alarming signs that could be pointing toward a housing crisis.
In order to find the Florida cities showing cause for concern, GOBankingRates looked at the largest 200 cities in terms of total housing units and some crucial factors such as percentage of mortgages that are between 30 and 90+ days delinquent and homeowner and renter vacancy rates. Data was drawn from the Consumer Financial Protection Bureau, the Consumer Protection Bureau, and RealtyTrac. Here are seven most likely to end up with a housing crisis.
(Excerpt) Read more at news.yahoo.com ...
I read the beginning of this article. It did not make any sense to me either. However, there are probably metro areas of Florida that are overdue for a correction in real estate pricing.
this article makes zero sense to me - there is no way some of these cities that 60-70% of the houses that are for sale are in foreclosure - probably just a hit job on DenSantis/Florida in general, with a poorly researched and even more poorly written article that should probably be ignored.
Zillow does not report numbers anywhere close to this - I would trust them more then yahoo.
“5. Jacksonville, Florida”
Apartment and condo complexes are springing up like weeds.
Traffic has now officially reached suck level.
I would be concerned globally, especially with respect to the US and China.
How much real estate is in the hands of Vanguard, BlackRock, REITs, Bank of China, Bank of England, etc.?
How healthy is Credit Suisse and Deutsche Bank?
TSMC cut production by 50%.
Diesel is over $6 in the Northeast, and a rail strike is looming.
China hasn’t released GDP numbers for three straight quarters.
I notice that there are no Panhandle cities listed. There is building like crazy going on here. Both single family homes and apartments and condos. I’ve lived here 42 years and have never seen building like this going on..............
“Housing crisis” sounds like a manufactured issue intended to be used to steal taxpayer dollars.
4. Miami, Florida
% of homes for sale that have been foreclosed: 69.72%
Is anything close to this considered normal in residential real-estate?
Are you around Destin?
This article is stupid. I don’t have to explain it right now but it is DUMB.
I too live in panhandle and I have people and agents on a regular basis call or stop by the house and ask if I’m interested in selling. Prices offered are insane.
Presently...............
only a “crisis” to the new peeps coming in, those already there that own a home are making out like bandits.
I get those postcards in the mail all the time!
“WE WANT TO BUY YOUR HOME!’..............
See #4
My wife gets regular texts asking if we want to sell
Problem is if you sell and want to buy another home your screwed interest rate wise.
I thought it sucked in 1972!.............
My thoughts too.... doesn’t make sense.
I have a large front porch with a tiny view of the Gulf—about 600ft—and it is not unusual to have people stop when I’m on the porch and ask if I’m interested in selling. I’m thinking of selling and buy in Wewa just up the road.
That was before all the yankees showed up. 😏
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