Some cities require a minimum of eight homes per acre for a development. 0.125 acres max.
The issue to buy right now is conditional upon the market. you know the old adage: location, location, LOCATION. In Ohio, we've never had the big growth so we typically don't experience a big drop. Plus, wealthy people don't really care as much about the economy if the house is $600k+.
Both. IMHO with interest rates up over 100%, and hone prices up up 300%, plus a predicted major recession, prices will drop like they did after the Bush disaster. I bought at the bottom, $85,900 at 3.4% interest. Value is now about $300,000.
Disagree. Interest rates have added hundreds of $/ no to mortgage payments. Economy will not hold. P Dimentia plans to double down on lowering energy production. That and inflation, doom any recovery.The issue to buy right now is conditional upon the market. you know the old adage: location, location, LOCATION. In Ohio, we've never had the big growth so we typically don't experience a big drop. Plus, wealthy people don't really care as much about the economy if the house is $600k+.
The challenge today is supply, both for materials and workers. There is going to be a shortage of new/refurbished homes over the next 18 months. And, right now, it looks like the economy is holding. So with the economy holding and supply being a problem, and recognizing the law of supply and demand, I can see home assets increasing for new/refurbished toward the mid or end of next year.
FEDS: U.S. Economy Added 263,000 Jobs in November
The U.S. economy added 263,000 jobs in November, more than economists expected.www.bigcountrynewsconnection.com
I don't disagree but the wealthy don't care. Why? Wealthy people have the assets to buy homes outright but choose mortgages because much of the interest is deductible (cutting the real rate by 40%) and they can invest that cash in other things to make money.
The problem is that there are still fewer workers right now than the peak before the plandemic. The labor participation rate has declined and worse yet, the massive amount of job openings has been eroding. It's a damned good thing we started with so many openings when inflation was "transitory" or we'd be underwater now.The issue to buy right now is conditional upon the market. you know the old adage: location, location, LOCATION. In Ohio, we've never had the big growth so we typically don't experience a big drop. Plus, wealthy people don't really care as much about the economy if the house is $600k+.
The challenge today is supply, both for materials and workers. There is going to be a shortage of new/refurbished homes over the next 18 months. And, right now, it looks like the economy is holding. So with the economy holding and supply being a problem, and recognizing the law of supply and demand, I can see home assets increasing for new/refurbished toward the mid or end of next year.
FEDS: U.S. Economy Added 263,000 Jobs in November
The U.S. economy added 263,000 jobs in November, more than economists expected.
Hurricane Ian losses are already over 50 billion ranking it number 2 insurance losses in US history.
Ya. That’s gonna really leave a mark next year about this time when it’s time to renew my flood and homeowners policies
I live in Mount Dora, one of the most desirable communities in Florida. I live very comfortably on $2800 a month with about $800 a month surplus in income over expenses.
I live in ft myers bonita springs areas. Unfortunately I couldn’t touch those numbers. This area has really grown over the last 10-15 years.
I bought 10 years ago at the bottom of the market. 3 years ago, I took $60,000 at 3 2% for repairs and pay off all bills. I pay $970/mo on a $300,000 home. I tithe and give 4% to offerings for veterans and guys that minister to black teens. God's wats are best ways.
May not even be available with insurance companies pulling out of the FLA market
I thought about that but we have a smart government who will find a way to form a government corporation to handle it
Agreed but sometimes you don’t have a choice. We sold two high end houses and one was bought by a couple who transferred and the wife made $150k per month. The other paid cash for his twentyish daughter to get her to move back home during COVID
I guess it depends on what you mean by rich. Florida housing has become unaffordable for many people in the last 6 years. I don't know the whole state but a new 2,500 Sq ft home in a nice community goes for about $1.3 million in southeast and southwest Florida. Maybe slightly less in Tampa but not much.
