The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.
For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.
But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.
Don’t worry, housing prices will crash next year and then you can buy cheap. Lol
No they won’t. The government will bail it out and the economists who work for the banks and the government will say how wonderful of an idea it all is.
That would not surprise me, but prices could still crash if that happened. Bail outs happen after that.
Could being the operative word here. Look at how fast that California bank was bailed out. After 2007 disaster it would surprise me if there is already a plan that can be executive ordered ready to go, give the banks a trillion dollar line of credit. You know so they have time to evict people.
One bank foreclosured on a family over five dollars. Thanks government!
Why would they crash? Build 2 Rent is a massive industry that’s just getting started.
I was kind of joking, but I did see this recently which made me wonder if the institutional buyers/investors thing is a bit overhyped and coming to an end not that far into the future:
Link