"Here they come to sell 'em again."
The FL RE market now resembles a stock market crash where you have everyone trying to sell at the same time and no buyers. The Sunshine State is getting hit by the Perfect Storm of Climate Collapse and Economic Collapse which is going to turn the state into a total basket case by the time Milton finishes wiping out probably 1/3rd of the infrastructure in the most populous part of the state.
For those people who theoretically are insured, it will be interesting to see how the claims are paid out. I am going to predict losses north of $100B coming out of this disaster and a bailout of 1 or more re-insurers before all is said and done. This may even be enough to tip the scales at the TBTF banks.
https://nypost.com/2024/10/08/real-estate/florida-homeowners-are-now-struggling-to-sell/
Florida housing market crumbles: Homeowners struggle to sell amid rising insurance costs and storm fears
RE
Florida housing market crumbles: Homeowners struggle to sell amid rising insurance
Started by RE Oct 09, 2024, 11:26 AM
Message path : / Society / The American economy / Florida housing market crumbles: Homeowners struggle to sell amid rising insurance
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