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Housing Bubble?

Ground Zero for 2008 Housing Market Crash Sparks Alarm Bells Again​


Home prices are plummeting in a Florida city some called "ground zero" for the subprime mortgage crisis of 2008. According to housing experts, Cape Coral now has one of the worst housing markets in the entire country—and the situation is likely to continue precipitating in the coming months.

Cape Coral's housing market exploded during the pandemic, when thousands of out-of-state newcomers flocked to the relatively affordable Florida town, snatching up for-sale homes and driving up prices. Between May 2020 and May 2022, the median sale price of a home in the city rose from $239,020 to $436,475, according to Redfin.

...tick tick boom :rof:
 

Ground Zero for 2008 Housing Market Crash Sparks Alarm Bells Again​


Home prices are plummeting in a Florida city some called "ground zero" for the subprime mortgage crisis of 2008. According to housing experts, Cape Coral now has one of the worst housing markets in the entire country—and the situation is likely to continue precipitating in the coming months.

Cape Coral's housing market exploded during the pandemic, when thousands of out-of-state newcomers flocked to the relatively affordable Florida town, snatching up for-sale homes and driving up prices. Between May 2020 and May 2022, the median sale price of a home in the city rose from $239,020 to $436,475, according to Redfin.

...tick tick boom :rof:
Prices went up too fast and too high.
Even around here, prices didn't increase that much.
 
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The median sale price for detached homes in my county is flat YoY in Q2 2025. First time flat or lower since Q2 2019.
 
In Bert's county, median sales price is $1.9 million.
Two much money around here.
 
That's good. I think when I am 80 y.o. like Bert my county median price might be like $8 million.
 
CA has Prop 13 which limits yearly cap at 2% regardless of inflation. That means new purchasers taking heavy burden in the tax revenues.
Most of my properties are assessed at half of market value thus if I live to 80, I will save lots of taxes if I don't sell. Disincentive to sell.
In the long run, would that be better than living in no state income tax places where property taxes keep going up.
 
Considering 3% mortgages to 6% the market's are extremely strong. On our median prices of say $900k plus that's a huge payment increase and we're pretty flat. In 45 year's I've never seen this kind of strength.
 
Income disparity is significantly wide here. Many high paying jobs here. Thanks to High Tech, not manufacturing.
Those who are making money earn well and can afford to buy the median prices. Demand is sufficient to meet limited Supply and residential real estate market is dong well.
 
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