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re: And it's only getting worse, multiple carriers left La on 1-1-2024

Posted on 2/1/24 at 12:30 pm to
Posted by wiltznucs
Apollo Beach, FL
Member since Sep 2005
8978 posts
Posted on 2/1/24 at 12:30 pm to
quote:

Where are houses en masse worth 4X what they were 10 years ago?


The entire gulf coast of Florida, extending from Cape Coral north all the way to Tarpon Springs.

I’ll give you a personal example. I purchased a modest 2000 sqft home in September 2007 for $225,000. The exact same home located directly across the street sold at the bottom of the market in 2011 for $119,000.

I sold the home in July 2021 for $425,000. The current estimate on the home is in excess of $500K.

Obviously, it depends on when you bought it. But, 2.5 to 4X is not uncommon in this area at all.
This post was edited on 2/1/24 at 12:38 pm
Posted by biscuitsngravy
Tejas, north America
Member since Jan 2011
3050 posts
Posted on 2/1/24 at 1:00 pm to
here in central texas, it's even worse. the result of so many years of zero percent interest rates. Big asset price spikes in real estate, stocks, cars etc.
Posted by Covingtontiger77
Member since Dec 2015
10536 posts
Posted on 2/1/24 at 1:02 pm to
I know. Same boat here.

Problem is yeah you can sell it for a huge upside profit, but you can’t afford the upgrade.

So all we have is money on paper that you really can’t do anything with.

The days of living in a house and selling to upgrade appear OVER.

Now you are bette Todd just stating where you are and enjoying your sub 4% 30 yr internet rate.


At least the kids will have a nice asset to sell when I’m gone.
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