Your thoughts on housing market outlook

[DR.COKE]

Finally paid off 2nd home and looking at 3rd, south Florida had a big price increase over 5 years and selling prices are lower than asking with longer day supply today but prices seem expensive even when 10% off listed. I feel there’s a reset in economy over next 1-3 years (price drop) than another boom when manufacturers have plants up and running. What’s your thoughts in real estate? Personally I think we gonna boom 10 years from now and South Florida may double on the water. There’s no land left to build so we build higher.

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[FLtrackdays]

I can tell you that if looking in the SWFL area, you can now find homes under $200/sq ft. Which is really cheap for quite low crime clean areas. The gulf coast is much more laid back in general, safer = cheaper car insurance than my friends on the Atlantic side.

You are right on the fact that people who’ve worked all their lives dreaming of never living in snow again will still come here regardless. So unless you buy in a stagnant area near the swamp or center of the state, you’ll be fine.

My opinion, any home that’s is one of your primary residences is never a great investment. You’re buying it because you like it and possibly keep your wife happy. That’s a recipe for disaster when it comes to investments. You won’t loose money if you wait 10 years in our area but it’s unlikely you’d make as much as a S&P 500 index fund either. When you factor in all the cost of ownership, not just PITI.

If you’re willing to rent it, that’s another story entirely ?

 

[licklobster]

houses as a whole cant drop until lumber and labor are cheaper, and i dont see either happening soon.

 

[FLtrackdays]

houses as a whole cant drop until lumber and labor are cheaper, and i dont see either happening soon.

Yeah, I’m not saying it’s not good to buy a house. But there are better investments out there than a primary residence. It’s never good to be house poor. And location location location is a term everyone knows in real estate. That’s so important given that every area is different. Doing your comps and getting a good deal, in the areas you’re interested in, will always help build equity quicker.

 

[Rocksandblues]

No idea why anyone would think to get real estate advice on a car forum?

 

[razorlab]

No idea why anyone would think to get real estate advice on a car forum?

What oil does your home use? Are you able to fit a bigger door in the factory frame?

 

[DR.COKE]

No idea why anyone would think to get real estate advice on a car forum?

Love everyone’s opinions on any topic. This is an “off topic lounge“ and wanted to have a friendly chat with our members housing opinions. Your welcome to share your opinion in your housing market.

 

[DR.COKE]

I can tell you that if looking in the SWFL area, you can now find homes under $200/sq ft. Which is really cheap for quite low crime clean areas. The gulf coast is much more laid back in general, safer = cheaper car insurance than my friends on the Atlantic side.

I got a property near your area gulf coast that cost me around $200/sqft. I’m a hardcore fisherman. I prefer the east coast and currently live here because deep water tuna ground is 30 minutes from my back yard Compare to 7 hours run from gulf coast to tuna ground In pulley ridge. US1 is my highway and love this area. just wanted to buy another condo that isn’t more than 2 stories high and a little larger for home office. Targeting $400/sqft for a fixer. Ready home goes +700/sqft.

 

[FLtrackdays]

I got a property near your area gulf coast that cost me around $200/sqft. I’m a hardcore fisherman. I prefer the east coast and currently live here because deep water tuna ground is 30 minutes from my back yard Compare to 7 hours run from gulf coast to tuna ground In pulley ridge. US1 is my highway and love this area. just wanted to buy another condo that isn’t more than 2 stories high and a little larger for home office. Targeting $400/sqft for a fixer. Ready home goes +700/sqft.

That sounds crazy expensive! Unless mixed use or zoned commercial.

 

[DR.COKE]

That sounds crazy expensive! Unless mixed use or zoned commercial.

the Higher price tag is really the deed deep water boat slip. Otherwise the price for sq/ft is about half. My area don’t have many docks unlike Ft. Lauderdale/miami.

 

[SupraTR]

Homebuilders are one of the primary sectors I work with. Really they're like every other company out there right now where there is a ton of uncertainty in the market which stifles investment. When it comes to pricing in most markets there remains decent demand and the builder margins are still surprisingly solid so there is some room for cut prices (or more likely offering increased incentives such as favorable mortgage rates) if they need to increase closing volume. So nothing that would be a big price mover on the new build side. Tariffs certainly will take pricing the other direction though I just don't see a way around it and the builders love to pass the cost on to the buyer and have been successful at that for many years. Anyway I'll avoid going down a rabbit hole with 3 pages of analysis...

My personal take is that barring a deep recession or worse (feels like nothing is out of the cards with what has been going on..) we're not going to see a huge shift in new/used home prices but as soon as we're on the other side of all this and rates are meaningfully down and consumer sentiment up I'd be surprised if we don't see another boom because there is just so much pent up demand.

 

[DR.COKE]

My personal take is that barring a deep recession or worse (feels like nothing is out of the cards with what has been going on..) we're not going to see a huge shift in new/used home prices but as soon as we're on the other side of all this and rates are meaningfully down and consumer sentiment up I'd be surprised if we don't see another boom because there is just so much pent up demand.

This was also my thoughts I wanna share. Home priced correctly might go down 25% from peak over next 3-5 years as new manufacturers ramp up in America. Once enough workers settle in and save a little I see another housing boom 10 years from now.
I“m thinking orange man don’t intend to decrease prices of goods, rather pushing people/companies to pay/make more.

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