Investors are selling out of Florida (50% Drop in Jacksonville)

Florida's Housing Market is on the verge of collapse. With investors dropping out of the market and the inventory of homes for sale spiking. Big price declines could be coming next.

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Many cities in Florida are anywhere from 20-40% overvalued in terms of home prices compared to income. And now that the inventory of homes for sale is spiking, these overvalued prices could come crashing down in cities like Jacksonville, Orlando, and Tampa. Just like they did in the last downturn.

In the last Housing Crash, from 2007-12, home prices across Florida collapsed by 50% on a state-wide basis and by as much as 60% in certain cities like Cape Coral. I don't think the declines in Florida will be nearly as bad this time around. But could come areas get hit by 20-30% price drops? That's a possibility.

Another area in Florida's Housing Market that could get hit is Miami. Where home prices are 34% overvalued compared to long-term norms and where prices are STILL going up. But I wonder how long the appreciation in Miami can last given the fact that most of the local population earns below $70,000 per year.
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Видео Investors are selling out of Florida (50% Drop in Jacksonville) канала Reventure Consulting