patrick.net

BTW, massive rental collapse in Florida.

I'm starting to see 2+ beds under $2000 and even some old 3+ beds out for rental. You could barely find Studios or 1 beds. This is on the Beach.

Under $2000 in Palm Bay now, brimming with 90s houses (not townhouse, not apts) under $2000. 6 months ago there was nothing.

Thinking about it as I'm outgrowing my little Condo with kids growing up and mom (78) needing to move in shortly.

EDIT: And this is December, the WORST time to look for rentals.

AmericanKulak says

The Demographic Crunch is coming and is unavoidable. IL has been experiencing net migration and population loss for years and years now; and the huge influx of migrants and illegals still results in a net loss.

Not anymore. Given rates we're building pretty strong here. Not biased either. There's no homes for sale here. FL is a different story with different parts. People are moving out of Chicago now but still staying in state. FL probably has an overbuilding problem of houses, condos and apartments.

NY, CA have IL type exodus problems. We've for sure stabilized now though. Won't grow by any means, maybe still lose a little, but not a lot. If IL hit level 10, NY & CA are level 3-4 right now on the way to 10. That will decimate the national median which is the stat used to scare people and get clicks for media with no context to the story.

FL I think it's just tap the brakes on building for a year or two (mostly) and let demand catch up with inventory to level it out. You guys have had the influx of people that can actually retire already and likely overbuilt. Your average boomer is high 60-70 age wise. Past higher end SS collection age and 59-1/2 for IRA/401k with no penalty. Basically if you were 60 you should have retired and if you wanted a condo in FL already did it a decade ago. So they built to demand and it's drying up because everyone did it.

Time flies when you're having fun. Boomers that can't retire won't and will stay put. Those that can already did. We're a decade past that timeline. There's no mass movement of geezers. Or they stay put because they can afford to or can't because they're broke. We've crossed the Boomer moving threshold is my point. It's over.