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Florida Real Estate Collapse


               
2023 Mar 29, 10:07pm   12,673 views  223 comments

by AmenCorner_AntiPanican   follow (9)  

https://www.zillow.com/homedetails/640-Pelican-Dr-Satellite-Beach-FL-32937/43447731_zpid/

2015 - Sold For $155k

2/8/2019 Sold $209,000

Now? Asking $400,000
So we're to believe in 4 years, that this house legit went up almost double. Or in a decade went up almost triple.

Another one:
https://www.zillow.com/homedetails/3802-Sunbeam-Ct-Merritt-Island-FL-32953/43404282_zpid/?mmlb=g%2C13

11/25/2013 Sold
$193,500
-3.2%
$98/sqft

2/14/2023 Listed for sale
$514,900
+166.1%
$261/sqft
Source: DBAMLS #1105834 Report a problem

Both of these houses were minimally updated. The first one was built in the 1960s.

I got half dozen more examples. Here's another, it was just under $250k in what looks like a Steelolanogranite Realtor Flip Special in 2019, before COVID. It was purchased late 2018 for under $172k. Now they want almost $500k for it just 5 years later.
https://www.zillow.com/homedetails/356-W-Dover-St-Satellite-Beach-FL-32937/43448773_zpid/

If you're curious, check out Palm Bay and Melbourne on the mainland. 1950s/1960s Space Program small cinderblock specials, some with no Central Air, are going for almost the same as brand new construction much larger and more modern.

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216   AD   2025 Dec 15, 8:31pm  

https://www.clickorlando.com/features/2025/12/11/floridas-not-the-best-place-to-live-study-claims-how-low-does-it-rank/

Florida is ranked 6 and California is ranked 32 as far as best states to live.
217   AmenCorner_AntiPanican   2025 Dec 15, 8:43pm  

Midwest booms as young people love the balance of affordability with good wages and real jobs, don't mind shoveling snow at their age.

Sunbelt suffers housing collapse as prices are still too high relative to local incomes of the working age.

https://www.thedailyupside.com/economics/real-estate/the-us-housing-market-is-bifurcating-by-region/

Sunbelt might recover the end of next year or the year after if the prices continue to rationalize away from COVID fever dreams.

Maybe Mamdani will cause an exodus of NYC firms, with good paying jobs.
218   AD   2025 Dec 15, 9:18pm  

FreeAmericanDOP says

Sunbelt suffers housing collapse as prices are still too high relative to local incomes of the working age.


Not case for Panama City Beach as rents are now at 2020 to 2021 levels for townhomes. Also new jobs like "Project Kilowatt" and the aerospace campus are going to add at least 2200 new jobs to the Panama City area.

Also the Florida State teaching hospital down the street from Panama City Beach city hall is almost finished with construction.

I like how Panama City is diversifying its economy and not totally relying on the booming tourism industry.
219   AmenCorner_AntiPanican   2025 Dec 15, 9:29pm  

I gotta sign up for the Reventure App at some point.

But yeah, nice big drops up there. 5% here. Orlando is starting to tank and normalcy return.

American prosperity secret: high, boss cursing wages with labor shortages that make him aggressively pursue mechanization and moan every quitter, and low food and housing costs. Low wages at any cost (but often with expensive housing) is the Turd World Trap
220   AmenCorner_AntiPanican   2025 Dec 15, 9:36pm  




Interestingly, Colorado. Worse than Florida that got mindblowing way out of hand and still has a ways to go as we enter the Boomexit phase and deportations ramp up.

(this is a forecast for next year, based on recent trends)

I would say the Florida TOURISM market is strong, at least by numbers, with a record 34M+ visiting the state.
222   AmenCorner_AntiPanican   2025 Dec 17, 3:06pm  




Rents are collapsing as well. Massive amounts of apartments were built in much of the state.

Countless older Condo buildings on Fannie's blacklist.
223   AmenCorner_AntiPanican   2025 Dec 17, 3:14pm  

Welcome to the permanent plateau of the next decade or so:


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