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Priced out of home ownership - 'It makes me want to throw up'

Insuring property in Florida has gone way up and will keep on going up even though DeSantis outlawed the mention of climate change in state documents.

It is bound to have an effect on property values in Florida sooner or later since things aren’t getting any better.
 
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Go Bama said:
There is a guy that lives about two miles from me who builds houses in Jackson, TN to rent. He builds whole neighborhoods and rents the houses from $2500-4500. One of his secretaries is a patient and she tells me he is renting these homes as fast as they can build them.
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I've heard of companies around here doing this. This is a huge part of the issue along with short term rentals and foreign investors/REITs
 
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CrimsonJazz said:
I damn sure miss living in Florida. My wife and I talk about possibly moving there one day, but that would upend a lot right now. Politics aside, it is a very well-run state, especially when compared to Alabama.
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Funny enough, we couldn't wait to get out of Florida, watching all of the formerly beautiful land be decimated without regard to anything besides profit and automobiles. And don't get me started about the cranky with stupid rules HOA type folks.

There was little besides soulless air conditioned boxes, fenced off retention ponds, and strip malls where I was living. And forget about any attempt to create a way to get around besides cars, save for a few spots where they drive golf carts in the bike lanes. But potato/pototaoe, right?
 
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I'm going to say the quiet part out loud here. The Boomer generation has done really poorly setting up the Gen X and Millennial generations for success. You can blame the kids and young adults for a lot, but it's clear the Boomers were set up for success after WWII, but they did not recognize or work to pass along the opportunities and economic systems like their forefathers did for them. Maybe it's was a stroke of luck for the Boomers, but they continue to reap the rewards of the economy, education system, housing system, etc. they were handed without the ability or desire to pass this along to the next generations. I'm painting a very broad brush here, but the data kinda backs this up:

www.economist.com

Baby-boomers are loaded. Why are they so stingy?

The mystery matters for global economic growth
www.economist.com www.economist.com
 
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mdb-tpet said:
I'm going to say the quiet part out loud here. The Boomer generation has done really poorly setting up the Gen X and Millennial generations for success. You can blame the kids and young adults for a lot, but it's clear the Boomers were set up for success after WWII, but they did not recognize or work to pass along the opportunities and economic systems like their forefathers did for them. Maybe it's was a stroke of luck for the Boomers, but they continue to reap the rewards of the economy, education system, housing system, etc. they were handed without the ability or desire to pass this along to the next generations. I'm painting a very broad brush here, but the data kinda backs this up:

www.economist.com

Baby-boomers are loaded. Why are they so stingy?

The mystery matters for global economic growth
www.economist.com www.economist.com
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You might find this an interesting read:

I do kind of feel the need to apologize for using an amazon link, but it offers a description of the book. Libraries rock. :)
 
stlimprov said:
You might find this an interesting read:

I do kind of feel the need to apologize for using an amazon link, but it offers a description of the book. Libraries rock. :)
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I admit, this looks interesting. If I bought it, it would still be about 20th in line for my current reading list, so I wouldn't be getting around to it anytime soon. Damn, I wish I could retire and catch up on my reading.
 
mdb-tpet said:
Funny enough, we couldn't wait to get out of Florida, watching all of the formerly beautiful land be decimated without regard to anything besides profit and automobiles. And don't get me started about the cranky with stupid rules HOA type folks.
Click to expand...

I've never had to deal with these clowns, but I've certainly heard the horror stories. My SiL in Covington, LA is living in a HOA neighborhood, but thus far it hasn't been a problem. I enjoy our visits there. In fact, I was just there this past weekend for a crawfish boil and I think half the neighborhood showed up. A good time was had by all. Louisiana is a place I'd never considered living in ( and honestly, I still don't think I want to.) However, that little town is pretty nice and it's above sea-level.

mdb-tpet said:
There was little besides soulless air conditioned boxes, fenced off retention ponds, and strip malls where I was living. And forget about any attempt to create a way to get around besides cars, save for a few spots where they drive golf carts in the bike lanes. But potato/pototaoe, right?
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Pretty much. I lived in Pensacola and it was really nice. The crime rate was low, the beaches are beautiful and just about anything you want to do can be found there.
 
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crimsonaudio said:
You'd think so, yet FL continues to grow like crazy:
www.census.gov

Sunshine State Home to Metro Areas Among Top 10 U.S. Population Gainers From 2022 to 2023

The Sunshine State was home to some of the fastest-growing and top-gaining metro areas, reflecting continued rapid population growth across the South.
www.census.gov www.census.gov
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Mankind doesn't learn easily nor have a long memory, when it comes to disasters and long-term consequences. The valley below Vesuvius is more populated now than it ever was in Pompei's time...

Antarctica Glacier
 
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TIDE-HSV said:
Mankind doesn't learn easily nor have a long memory, when it comes to disasters and long-term consequences. The valley below Vesuvius is more populated now than it ever was in Pompei's time...

Antarctica Glacier
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This goes up to 10' sea rise if you want to find a future beach property.

Sea Level Rise and Coastal Flooding Impacts

Sea Level Rise Viewer: Visualize community-level impacts from coastal flooding or sea level rise (up to 10 feet above average high tides) at U.S. coastal locations.
coast.noaa.gov coast.noaa.gov
 
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2003TIDE said:
This goes up to 10' sea rise if you want to find a future beach property.

Sea Level Rise and Coastal Flooding Impacts

Sea Level Rise Viewer: Visualize community-level impacts from coastal flooding or sea level rise (up to 10 feet above average high tides) at U.S. coastal locations.
coast.noaa.gov coast.noaa.gov
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A fixed volume of water will expand with increased temperature. Just the rise in ocean temp is a problem
 
British home purchase broker discusses the widespread purchase of houses in the UK by pension funds, and investment bankers.
Investment funds buying entire blocks and turning them into rental properties with all kinds of undesirable societal effects.
Not sure how to stop this. Tax pension funds invested in house ownership at 100%/year after a certain date (to give pension funds a chance to get out of that market)? Of maybe, tax pension funds invested in houses at 5% in 2027, 10% in 2028, 25% in 2028, 50% in 2029, and 100% in 2030?
 
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