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Posted by Luckydog on 7/22/21 1:50pm
It's just the perfect storm right now for people who have it and can do it.
People are leaving the big cities and work from home and can relocate to tax-friendly states in return.
Natural disasters, drought, fires, floods all are incentives to move out of dodge to better areas. more stable.
Disneyland in CA is moving 2000 workers here to Lake Nona for work next year transferring to DisneyWorld for starters. It's costing the company less money and a better location, affordable and better tax rate than staying in CA. The problem is we have no houses so Disney needs to build some for them as well.
Most who sold homes elsewhere have mega cash and the cost of some of these others places is 1/2 of what they paid if they stayed, so they don't care paying $50K more for a house, they still have money in their pockets.
Who's hurting are first-time home buyers or renters trying to break that cycle.
If you are selling great, but try and find a replacement house. It's nearly impossible right now in my area.
Eventually, it will pan out, but when? The housing shortage, rental shortage...somethings gotta break. 2000 people each week move into central FL...I guess they will be pitching tents or keep overbidding on those houses.
I don't see any decline in prices for a long time in this area.
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