Housing inventory by state

[demarpaint]

My research, homes without flaws go under contract soon after listing. I don't care what state. Is there a former air BNB without flaws, likely not so much. So all those Florida homes quite possibly flawed homes that were impulse buys, air bmb properties, etc.

Wife found a needle in a haystack home, a waterfront home in Wyoming for under 1 million USD. She is pressing me to agree to buy the home (I am currently working in Asia). Home was 685k, no down to 618k.

Can't understand why the home isn't under contract. But I have been studying the pictures and discovered the listing agent is a master photographer.

Home is waterfront, yet if the pictures are studied, one discovers the deck is at a point to the waterfront. One has to study the pictures to figure this out. Huge flag to have a deck at a point, rather than horizontal, to the water.

Studying the front of the house, the gutters are funky. But while studying the funky gutters, just across the water is what looks like a bunch of law enforcement vehicles. At a minimum, most LE agencies require siren tests every shift change. Can you imagine the sirens going off every eight hours, seven days a week, 365 days a year.

Why no basement? Might be a good reason, but I suspect simply as a cost savings. If accurate, equates to a lot of cost savings in the home, yet home has great fixtures and matching decorating.

Wife has now engaged my adult daughter to press me to agree to buy the home. How many people bought homes in Florida and Texas post covid and two percent interest without due diligence? And no reality sets in and they put their flawed home on the market?

Good points. I've pretty much been in the construction industry for most of my working life, doing the actual finish work. I've worked for some very wealthy and famous people, and met some great craftsman over the years. I saw great work, and shoddy work, and learned a lot. I can check out a house better than most engineers as a result. There are reasons houses are priced above and below the market. I helped a friend's son and future daughter in law find a house. I found serious flaws in two of the three houses I checked for them, in both cases the real estate agent's engineer glanced over them, and in one instance missed termite damage that could have easily cost them $50K to fix. My buddy and his wife told their son to save their money and not to use the engineer anymore. LOL

Regarding the Florida example you mentioned, imo a lot of people from the north want the Florida lifestyle, and don't think it through and rent first. Then they realize the summer is loooooooong and hot, there's a lot of traffic, insurance is high, and it's not the paradise they thought it would be.

From what you wrote you know how to check a house too. Trust your gut and see if you can convince your wife and daughter the house could end up being a costly mistake.

 

[GON]

Regarding the Florida example you mentioned, imo a lot of people from the north want the Florida lifestyle, and don't think it through and rent first. Then they realize the summer is loooooooong and hot, there's a lot of traffic, insurance is high, and it's not the paradise they thought it would be.

You comment triggered a memory.

When I was 17 years old in the early 1980s, I worked in a full service gas station, pumping gas in Plantation, Florida. We would get real slow in the summer as most all the retired folks returned up north for the summer.

A single story waterfront (canal) Villa home, with a private driveway, and private waterfront ground level patio, sold for $20k USD in the early 1980s. One could afford a winter home in Florida. I think owning a winter only home in Florida today is out of reach to many people today, but that wasn't the case in the 1980s

Of note, these $20k USD waterfront homes in South East Florida were CBS construction, even the interior walls between units. How times have changed in South Florida home construction.

 

[demarpaint]

One could afford a winter home in Florida. I think owning a winter only home in Florida today is out of reach to many people today, but that wasn't the case in the 1980s

Exactly! My wife and I were talking about this just last night. She wants 55 and over, and is now considering keeping the house we live in as a compromise to keep me happy. I'm a numbers guy and for me to pay taxes, the HOA, insurance etc. for 12 months out of the year, to maybe be there for 4 months and some shorter stays I see it as a mistake. Especially buying into a falling market there. Their insurance is now higher than we pay here on L.I. I told her if she wants we can do Airbnb anywhere we like, and let someone else have the headache and expense associated with owning more than one house. I had that headache years ago, and it wasn't worth it then, it's worse now that I'm older.

 

[SC Maintenance]

Funny, if New Mexico eliminated it's state income tax, New Mexico would be the number one growth state for retirees from outside of New Mexico.

South Carolina does not tax social security income. They also have very low property taxes if its your primary residence via exemption where you do not pay a school tax - crazy huh? It has lead to a lot of retirees moving here, who then require infrastructure and services but contribute little to the states financial health. I personally believe its a huge mistake, taxing our public resources, like our public hospital system, and roads which are all failing while our long term liabilities remain unfunded. I think it will be the undoing of this state.

New Mexico personal income tax looks fairly low with a reasonable standard deduction. How are property taxes? How is the infrastructure? Looks appealing to me actually?

 

[SC Maintenance]

Regarding the Florida example you mentioned, imo a lot of people from the north want the Florida lifestyle, and don't think it through and rent first. Then they realize the summer is loooooooong and hot, there's a lot of traffic, insurance is high, and it's not the paradise they thought it would be.

A single story waterfront (canal) Villa home, with a private driveway, and private waterfront ground level patio, sold for $20k USD in the early 1980s. One could afford a winter home in Florida. I think owning a winter only home in Florida today is out of reach to many people today, but that wasn't the case in the 1980s

I used to love vacationing in Florida. I also do work there. Easy drive for us - offseason used to be ridiculously cheap. There is no off-season anymore, and nothing is cheap ever. Not to mention all the interstates are now parking lots.

I had a good friend retire in an area around Melbourne (well chased a girl down actually). Neither worked out - the girl or retirement. Anyway, he was 30 years older than I. He bought a cheap house for like $100K. I would visit him and think I should buy something here, have my own family home in Florida. Realize these were 1000 ft 3/1 type deals. But the neighborhoods were nice. Mostly snow birds. No pools.

I look online now and there all $300K+. No thanks.

I no longer have any interest in Florida. They even ruined the Keys.

 

[andrew_j]

Useless map because not divided into population….

 

[SC Maintenance]

Only sharing due to timely post. I make no claims to know anything about Silicon Valley real estate. However this guy generally has the data to back things up. If you like this sort of thing I would suggest following him on X. He posts these blips daily.

 

[alarmguy]

Only sharing due to timely post. I make no claims to know anything about Silicon Valley real estate. However this guy generally has the data to back things up. If you like this sort of thing I would suggest following him on X. He posts these blips daily.

View attachment 279039

Loss of tech employment/jobs. Personally I think this will continue. Tech companies moving to more friendly states is one.
Secondary, not right at this moment but AI will also eliminate many jobs. Technically employment is still up but massive layoffs and tech companies moving must have certainly led to this spike. I say the glory days are over as it was. Silicon Valley wont go away, not anymore than let's say New York City. However just like NYC you dont need to be there anymore to make it big.

This is from Jan 2025 which I think we can still consider current and is the trend.
"The share of all US tech industry jobs that are located in California has now fallen to some of the lowest levels in a decade, dropping a full percentage point over the last year alone,” data analyst Joey Politano posted on X this week, citing numbers from the Bureau of Labor Statistics." ...
"Silicon Valley’s share of the total value of venture capital investments in the United States last year was at its lowest since 2012."
Source =
https://cybernews.com/editorial/california-silicon-valley-tech-jobs/

Actually here is another little something about AI and jobs in CA. Seems to me it will be the next big reason to shed employees there.
"But other factors are driving the latest round of layoffs, economists say. They say that companies are measuring people’s productivity and performance more closely, and that they are shifting resources toward artificial intelligence investments."

Source =
https://www.latimes.com/business/st...offs-meta-google-autodesk-block-san-francisco

 

[nickaluch]

My research, homes without flaws go under contract soon after listing. I don't care what state. Is there a former air BNB without flaws, likely not so much. So all those Florida homes quite possibly flawed homes that were impulse buys, air bmb properties, etc.

Wife found a needle in a haystack home, a waterfront home in Wyoming for under 1 million USD. She is pressing me to agree to buy the home (I am currently working in Asia). Home was 685k, no down to 618k.

Can't understand why the home isn't under contract. But I have been studying the pictures and discovered the listing agent is a master photographer.

Home is waterfront, yet if the pictures are studied, one discovers the deck is at a point to the waterfront. One has to study the pictures to figure this out. Huge flag to have a deck at a point, rather than horizontal, to the water.

Studying the front of the house, the gutters are funky. But while studying the funky gutters, just across the water is what looks like a bunch of law enforcement vehicles. At a minimum, most LE agencies require siren tests every shift change. Can you imagine the sirens going off every eight hours, seven days a week, 365 days a year.

Why no basement? Might be a good reason, but I suspect simply as a cost savings. If accurate, equates to a lot of cost savings in the home, yet home has great fixtures and matching decorating.

Wife has now engaged my adult daughter to press me to agree to buy the home. How many people bought homes in Florida and Texas post covid and two percent interest without due diligence? And no reality sets in and they put their flawed home on the market?

By me a house that's falling down 1000k square feet sells in a few days for $600 k then is knocked down and new house built. New one sells for about $1.4 million easily it's flat out crazy

 

[BMWTurboDzl]

Please take a second look at the chart you posted. According to the chart, New Mexico had a net loss of 244 people in 2023, not 224,000 people.

With mild climate and very affordable housing, New Mexico could be a boon state for retirees. The very high crime rates, along with extremely high state income tax, may be what prevents New Mexico from attarcting more retirees than it does. It my neighboorhood, vast majority of residents are active duty airforce, or retirees. Our subdivisions continues to have new homes constructed. Our subdivision likely does not holistically reflect NM housing trends.

New Mexico is almost a welfare state. Poor healthcare and poor career opportunities outside Federal arena.

 

[BMWTurboDzl]

This article suggets one reason why Texas may have more homes on the market than expected, I think the article's thesis could very easily apply to Florida:

Airbnb owners get nasty shock after driving up property prices in pretty Texas coast town​

Homeowners have realized they are unable to make a quick buck by renting out vacation property in a stunning coastal Texas town because they have flooded the housing market.

Buyers snapped up houses in Galveston during the pandemic with the hopes of being able to convert the properties into short-term rentals.

During that time, the number of registered short-term rentals in Galveston more than doubled, with 2,300 listed in 2021 to 4,900 two years later.

However, now many of those who purchased homes on the picturesque island have come to realize that it is actually a competitive, expensive and labor-intensive field.

Climbing insurance costs, increased taxes and struggles to get bookings have led many owners to sell, according to the Houston Chronicle.

The surge of listings have turned Galveston into a buyer's market, and many people are seeing their houses sit for months.

https://www.dailymail.co.uk/real-es...-raising-property-prices-galveston-texas.html

Galveston isn't pretty. The water off the beach is muddy and the ship channel dumps off the east side of the island. I could never understand why people thought it was a great place to live

 

[Dave Hess]

alarmguy,

Microsoft just announced 6000 layoffs this week and more tech jobs will be cut in the near future…… with or without artificial intelligence.

https://www.theverge.com/news/659401/microsoft-layoffs-three-percent-workforce

Daily Job Cuts . Com

 

[GON]

South Carolina does not tax social security income. They also have very low property taxes if its your primary residence via exemption where you do not pay a school tax - crazy huh? It has lead to a lot of retirees moving here, who then require infrastructure and services but contribute little to the states financial health. I personally believe its a huge mistake, taxing our public resources, like our public hospital system, and roads which are all failing while our long term liabilities remain unfunded. I think it will be the undoing of this state.

New Mexico personal income tax looks fairly low with a reasonable standard deduction. How are property taxes? How is the infrastructure? Looks appealing to me actually?

The New Mexico state income tax is double its neighboor to the west (Arizona), and has zero exemptions like Arizona does, for an example Arizona does not tax certain pensions. New Mexico's neighbor to the south has zero state income tax. A middle class couple that worked all their life, saved their monies, earned two pensions, and social security, could easily pay $10k USD in New Mexico state income tax, over what the retired couple would pay in Arizona.

The issue with New Mexico I suspect is that the state has a small population, and much of the small population makes little annually. So the tax burden falls heavily on the few earners the state has. Put me in as New Mexico governor, and a super majority in the house and senate, New Mexico will eliminate its state tax, will have EPA and other laws removed to equal Texas business rules, especially for drilling and mining, and New Mexico will have zero need for a state income tax, and its low income earners will have ample opportunties for significantly more earnings annually.

 

[GON]

Galveston isn't pretty. The water off the beach is muddy and the ship channel dumps off the east side of the island. I could never understand why people thought it was a great place to live

I have watched videos that concur with your assessment of Galveston.