Florida RE bubble 1920's eerily similar to present day.

Discussion in 'Economics' started by TheDudeofLife, Sep 6, 2007.



  1. When the market falls, every blue chip, sun chip, green chip, will fall eventually because of fear/liquidty. The bluechip might be slower to fall but eventually.
     
    #21     Sep 8, 2007
  2. the bitch about Fla. is the average JoeSixPack cant spring for expensive homeowners and flood ins.

    add that to 20% down and it's a no go.....

    prime RE here in Texas is turning down hard........
     
    #22     Sep 8, 2007
  3. #23     Sep 8, 2007
  4. Toro KMA

    Toro KMA

    The other thing is that taxes are soaring.

    The way taxes work in Florida is that they cannot go up by more than a set rate each year - I think its 3-4% - even if the property rises much more. However, the tax rate reverts to the market price when a property is sold. So, because property has risen so much, if you have been in a home for some time, your property taxes will skyrocket if you decide to move from your house to a new one. And the differences can be astonishing. I have heard that on the same block, someone will pay $3000 in taxes and his new neighbor in a house the same value will pay $8000.

    As you might imagine, this effects the desirability to buy and sell homes.
     
    #24     Sep 8, 2007