Reply to There are so many really adorable, affordable houses in Florida

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Florida is doomed.  Just no.[/quote]

Like it or not, FL is the future, despite the hideous politics and climate issues.

Just look at population/economic trends. Which states are experiencing population growth? Which are losing population? Where's new manufacturing going? (Hint, it's not the NE or Rust Belt).

We're in the midst of an historical transition, perhaps the largest we've seen since the post-WWII suburbanization.

Places like FL and TX are "winning" and places like NYC, Chicago are "losing".

Neither climate nor politics are likely to change that anytime soon.

[/quote]

THIS.  A lot of people on this forum bash Florida and I wonder if they have any clue about the massive migration, including of wealth, that is going on in this country.  [/quote]
they don't want to accept the fact that people are leaving their shitty states[/quote]

Wealth was always in FL, rich have multiple homes, they don't "relocate".   FL had some of the most expensive compounds in the country where home prices start at 10 mil, and there are many of them on both FL coasts.  So what?  Movement of working people who are upwardly mobile is what matters, not obscenely rich people buying their 4th vacation homes in some enclave conveniently located near nicer nature and luxury shopping and supply of household staff employees that tend to be not upwardly mobile.

FL experienced migration of those who come there to settle down and work and have higher incomes, this is what drove prices up.  It happened during the pandemic because Blue metro areas became unbearable to live in, so people who wanted sense of normalcy and had flexibility moved, and also saved some on cost of housing, COL, etc.  But it no longer makes sense if prices are up, it's not longer a "grass is greener" pasture for those seeking lower COL.   Political migration will probably continue, but economic migration of upwardly mobile will slow down when prices hit a threshold where staying in your own high COL area would be the same. [/quote]

Also a lot of well to do East Coasters got second homes in FL to escape when they could work from home and when rates were obscenely low and prices still affordable.  [b]Many had to return back to their primary residences when their employers wanted them back to the office or when they simply got bored, missed their old surroundings, families, friends.[/b]  You would think with departure of those using FL as tax shelter and second home would result in more homes on the market and will drive prices down, but it didn't.   People who bought in 2020 with low rates and prices have now doubled their money, have low mtg and aren't selling even if not living there full time.  So, inventory continues to be tight and prices high.  [/quote]

Got some data to back this up?  I see the exact opposite happened as PP detailed above.[/quote]

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