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Started By
Message
Vacation homes: Boomers may have finally out-boomered themselves in Palm Springs, CA
Posted on 12/3/23 at 8:31 pm
Posted on 12/3/23 at 8:31 pm
quote:
Bought up all the vacation homes
Voted to ban Airbnb to keep everyone else out
Now can’t sell and tanked their property values and stuck with homes in the desert
These are all the price cuts in the area in the last 7 days
LINK
20
Posted on 12/3/23 at 8:36 pm to Street Hawk
They could do this to Ocean Springs, MS soon if they aren't careful.
Posted on 12/3/23 at 8:37 pm to Street Hawk
How do you know all of those are price cuts, from that map?
This post was edited on 12/3/23 at 8:42 pm
Posted on 12/3/23 at 8:37 pm to Street Hawk
It doesn’t amaze me that people shoot themselves in the foot it is the quickness in which they reload that does.
Posted on 12/3/23 at 8:38 pm to Street Hawk
This isn’t just an issue in the Palm Springs real estate market. We’re in a recession. People are broke now thanks to Bidenomics.
Posted on 12/3/23 at 8:39 pm to Street Hawk
It probably has zero to do with the economy and rates though, amirite?
I get the point of this thread but let’s not act like now is even remotely a good time to drop big money on a vacation home.
I get the point of this thread but let’s not act like now is even remotely a good time to drop big money on a vacation home.
This post was edited on 12/4/23 at 7:26 am
Posted on 12/3/23 at 8:39 pm to loogaroo
quote:
They could do this to Ocean Springs, MS soon if they aren't careful.
Noticed that yesterday. So so many homes obviously purchased as investment properties and simply staged as perpetual Airbnb properties. Actually, it's extremely prevalent all the way west to Bay St. Louis.
Posted on 12/3/23 at 8:40 pm to Street Hawk
I didnt make a thread about it because people reeeee over my real estate threads and tell me I am hoping for a crash but parts of FL have seen a 22% inventory increase and as much as a 20% price drop so far
Posted on 12/3/23 at 8:41 pm to stout
We’re still several years away from adequate inventory.
Posted on 12/3/23 at 8:43 pm to James11111
quote:
How do you know all of those are price cuts, from that map?
Filter by price reduction.
Posted on 12/3/23 at 8:43 pm to Street Hawk
Can you link me to the one that's 87k?
Posted on 12/3/23 at 8:43 pm to Paul Allen
This post was edited on 12/3/23 at 8:48 pm
Posted on 12/3/23 at 8:50 pm to stout
quote:
because people reeeee over my real estate threads
I like them personally. Keep posting them. I secretly fact check your numbers though
So far so good 
Posted on 12/3/23 at 8:50 pm to stout
quote:
I didnt make a thread about it because people reeeee over my real estate threads and tell me I am hoping for a crash but parts of FL have seen a 22% inventory increase and as much as a 20% price drop so far
I doubt we see a big crash but a huge flood is coming.
Folks weren’t able to buy million dollar condos with $10k down like the early 2000s so the big crash isn’t coming but the flood is upon us.
Posted on 12/3/23 at 8:53 pm to stout
quote:
people reeeee over my real estate threads
Screw 'em. I enjoy your real estate posts.
quote:
I am hoping for a crash but parts of FL have seen a 22% inventory increase and as much as a 20% price drop so far
I would think a housing crash would be far less likely in Florida than a lot of other states because of the massive amount of people moving there (see also: Texas, and Tennessee, and Utah, etc).
Posted on 12/3/23 at 8:54 pm to Street Hawk
Tim Dillon tried to warn them
Posted on 12/3/23 at 8:55 pm to stout
quote:which parts?
but parts of FL have seen a 22% inventory increase and as much as a 20% price drop so far
Posted on 12/3/23 at 8:56 pm to Paul Allen
quote:Paul's not completely wrong either depending on where you live. Sure interest rates suck but prices haven't dropped at all here in middle TN. People are still buying on plans that allow 3 or more free lock ins for volatile rates. Will they drop anytime soon? Who knows.
We’re still several years away from adequate inventory.
Posted on 12/3/23 at 8:59 pm to GreatLakesTiger24
quote:
Zooming in - it's the West Coast of Florida where the inventory is surging the most.
Metros like Sarasota, Cape Coral, and Naples are up anywhere from 50-100% on active listings YoY.
According to the most recent LINK data update for November 2023.
LINK
I didn't bookmark the thread I saw from someone else discussing the price decrease and I don't remember who made it.
Posted on 12/3/23 at 9:00 pm to CAD703X
quote:
Paul's not completely wrong either depending on where you live
Paul is not 100% wrong but that is the only contribution he knows to make to these threads and has repeated it for a year now.
quote:
Will they drop anytime soon? Who knows.
Mortgage rates dropped last week for the fifth week in a row
This post was edited on 12/3/23 at 9:02 pm
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