For those looking to move to Florida, inventory chart on Florida's largest housing markets

Ya. Yesterday I was looking at a newly built home in Orlando. It was in a PUD about 10 Ft from the units on either side. A shoebox of around 3k sq ft with no real front to look at other than a two-car garage door with the front door on the right.

Appraised and sold for $1M to a couple out of New England who bought it as a second home.
Glad my HOA has a rule that garages need to be side load.
 
Were obviously speculating, but if 10 years ago a boomer retired in in say Boston to move to Florida, there job opened up for another person to take, and hence buy a home.

Now lets say that same person is living in the Villages and passes away. They left no job. There are no jobs in the villages You need a retiree to buy that home. Except there are not enough younger people to retire, and those that are that age as a group have far less money. Presumably the boomers will leave their money to the millenials. Are a bunch of millennial children going to move to the Villages and retire at 50?

This is from 2020 - last census - so add 4 years. The biggest Boomer group is now 59 to 64. They haven't even retired yet. So this story you mention has yet to play out. You can see a related affect already - the serious shortage of skilled labor is a direct reflection of retiring boomers with too few people below them. Its not the only reason, but its the over-riding reason.

Now look at the smallest group for a while - which will be 49 - 54 as of today. When this group is ready to retire in lets say 15 years - the biggest group above will be at that phase that they will be needing to pass their house along. But there won't be enough soon to be retired buyers - just like there are not enough of us to take there jobs today.

I don't believe this story has played out anywhere yet. Its just getting started. Its always possible it gets thwarted - more immigration, longer life expectancy, etc. But it will take something outside the usual to stop it.



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Only two kinds of people live in The Villages.
1. Those that LOVE it.
2. Those that HATE it.

Nothing in between.
 
Be careful what you wish for.
YOU MAY GET IT.

I always recommend if want to move to Florida (or anywhere), RENT a place for a year or two. You may find you don’t like it after all.
I spend a lot of time in Southern NM. Mostly Roswell, Ruidoso or the Big town of Las Cruces. Even Deming. Too lat for me now. I’m old.
 
Be careful what you wish for.
YOU MAY GET IT.

I always recommend if want to move to Florida (or anywhere), RENT a place for a year or two. You may find you don’t like it after all.
I spend a lot of time in Southern NM. Mostly Roswell, Ruidoso or the Big town of Las Cruces. Even Deming. Too lat for me now. I’m old.
What is old?

I hear you about renting before buying but I hate packing, moving and unpacking. Let me say again what I hate. Moving. I have a garage full of storage containers of tools and related supplies. And I have gone through them getting rid of the duplicate stuff and broken stuff and no longer needed stuff like a OBDI code scanner.
 
Lower wages.

Or loss of jobs over time in non-right to work states. Or union dues being used to promote things that don't align with an individual's beliefs in non-right to work states.

UAW Membership Hits 14-Year Low Amid Organizing Push​


Membership has been falling from the 1970 peak of 1.5 million, landing at 370,000 in 2023.

 

Or loss of jobs over time in non-right to work states. Or union dues being used to promote things that don't align with an individual's beliefs in non-right to work states.

UAW Membership Hits 14-Year Low Amid Organizing Push​


Membership has been falling from the 1970 peak of 1.5 million, landing at 370,000 in 2023.


And the wealth gap has widened during that time. The worker needs an organization looking out for them, the companies have endless resources and lobbyists that don't align with their beliefs or best interests.
 
I read The Villages has the highest amount of sexual assault of any similar community or Florida town.

And the full name is Christian Advent Villages.
Also the highest rate of STDs. Lot of partying going on.
 
And the wealth gap has widened during that time. The worker needs an organization looking out for them, the companies have endless resources and lobbyists that don't align with their beliefs or best interests.
You make a great point. Over the long term, the real solution is removal of barriers to entry, restraint of trade, regulations that prevent competition. Americans' are awesome, they will make it happen as long as regulations, policies, and the such don't tie their hands.

My Dad was a union member and would say a bad union is better than no union. I am not sure how true his assessment holds today.

When I was a kid in the 1970s, a competent machinist could quit his job in the morning, and walk down the street and get another job the same day. I don't think it works lol ke that today.
 
I have my house for sale in Jupiter Farms. It is listed on the MLS. Although at slightly high price. Very little interest.

Maybe it is one of the undesirable homes on the listing, dunno. Seems pretty awesome to me. I'd NEVER sell, but the wife has a goal to homestead in the TN mountains for our retirement.

Price per sq ft is in line with other listings. Cost to build it new would be at least $400K more than what I'd take. And you'd still fall short in lot size and location.

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Fixed:
Just read an article the other day that said in central Florida, a lot of recently built, single family homes are not selling. Likely due to the bloated pricing.
Maybe that has something to do with it, but of course the article blamed interest rates and typically low incomes. Can't buy a house working at McDonalds.
 
I think the market is saturated and the stats don’t show it yet.
Anything is possible. All I can say is every home that I look at that is a fair buy still gets multiple offers the day it is listed, and is under contract 24 hours.

If the market has cooled, I have yet to see a single sign when it comes to a good home. Have a home that has not been updated in 30 years, and backs to a busy street, and is on the corner.... And the seller wants the same price per square foot as other updated homes in the subdivision, that don't back the busy street, that home is not selling as good.
 
I know there is an area of Charleston that is being gentrified. There buying older homes and retrofitting if there big enough and decent shape, but often bulldozing them and combining lots so they can build more houses on less dirt. Not sure how all that works, but I drove down there after dark one night just to see what it was really like - didn't used to be a place you would drive at night 10 years ago. The new houses are lit and occupied. Just about 100% of the older houses appear vacant at night. No cars, not lights. They obviously haven't been abandoned, there being taken care of to a degree, just no one living there.

So I have to assume that the area is being bought out by investors. When something comes up it sells immediately. In other parts of Charleston not so much. I also wonder how much is foreign investment. I know its a thing but no one will say how much. For a wealthy person from China or Japan or even Europe its difficult to buy stocks or a business in the USA, but you can buy a single family home. I wonder how many are getting there money in to US dollars this way?

I have considered buying in that area. It would be a very convenient location for us. Charleston is essentially a peninsula surrounded by some islands, so land near the city is scarce. I am hesitant, maybe I shouldn't be?
 
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