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re: Let’s discuss the housing market
Posted on 4/29/21 at 6:53 am to olemc999
Posted on 4/29/21 at 6:53 am to olemc999
We're selling our house for a little over 3x what we paid in 2010.
That means we're probably renting until prices come down for houses or construction.
I've built a house before but no way could i afford it even with the windfall coming
That means we're probably renting until prices come down for houses or construction.
I've built a house before but no way could i afford it even with the windfall coming
1
Posted on 4/29/21 at 7:12 am to jonnyanony
In the height of the real estate boom in Florida house prices were climbing daily ....not weekly ..... daily.
The city and county governments jumped in and rapidly increasing values to make gains in taxes. Home owner's insurance Companies were now adding to match the market values they were seeing ...
That caused the on the edge buyers to collapse. Not a fictitious drop in the value ...The taxes and insurances ..crushed the on the edge buyers. Now you would receive your October notice ..."In December your escrow account will be short 1200 dollars." Those buyers had the mortgage payment and the escrow payment to match or default ....the game was on.
It was so bad on the Pinellas County Beaches that the Cities came in and said "All right, if you tear down this house, you can build a ten unit Condo and we are now taxing according to the value of the ten unit condo. I had owner after owner going under because of City and County taxes.
The city and county governments jumped in and rapidly increasing values to make gains in taxes. Home owner's insurance Companies were now adding to match the market values they were seeing ...
That caused the on the edge buyers to collapse. Not a fictitious drop in the value ...The taxes and insurances ..crushed the on the edge buyers. Now you would receive your October notice ..."In December your escrow account will be short 1200 dollars." Those buyers had the mortgage payment and the escrow payment to match or default ....the game was on.
It was so bad on the Pinellas County Beaches that the Cities came in and said "All right, if you tear down this house, you can build a ten unit Condo and we are now taxing according to the value of the ten unit condo. I had owner after owner going under because of City and County taxes.
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