re: If/when there is a major correction and/or housing crash

Florida is an interesting case study. There are multiple issues converging

1. Older population owning homes for many years heading toward downsizing and retirement

2. Covid causes a massive influx of people - a lot from the northeast willing to spend more money than traditional house values and for cash. Causing housing prices to rise

3. Current problem is that older people who have much lower property taxes and lower mortgage cannot afford to sell because increased property taxes and 20 percent down and higher interest rates on any new home they purchase does not make economic sense.

Personally, a serious correction would help me as I'm just waiting to buy on a beach town but the prices are beyond absurd.