Zillow predicts housing price contraction for 2025

People don't seem to get this. Rising housing prices really don't help anyone unless you plan on using it as an ATM. If you sell, you just pay more at the next place anyway. Meanwhile taxes, insurance, etc just increase.

Yep. I’ve always wonder why some people are happy to see the value of their house so high if they have no plans on selling it.

County Tax Officials love these high home values.
 
The Carolinas away from the ocean is a better option.

Sure, keep vacationing in Florida but don’t buy anything here.

Sage advice for sure. Despite my grandfather growing up in GA I'm an east coast ... well, I'm abrassive. What I like about the Sarasota area is the sheer volume of places north and south to pick up and spend the day or an overnight. Carolina's offer affordability and slower paced life but not so many options for fun in the sun.

We're also coming at this knowing we will have two full size homes, one in NY and one in FL.
 
Sage advice for sure. Despite my grandfather growing up in GA I'm an east coast ... well, I'm abrassive. What I like about the Sarasota area is the sheer volume of places north and south to pick up and spend the day or an overnight. Carolina's offer affordability and slower paced life but not so many options for fun in the sun.

We're also coming at this knowing we will have two full size homes, one in NY and one in FL.
Curious what you would call fun in the sun?
Sports? Theater? Boating? Beaches? Shopping?
Between Murrells Inlet SC and Wilmington NC there is a whole range of options for homes and lifestyles.
I guess if you are not a golf, beach, boating, coastal activities person ... well I dont know...

What do you have in NY and Florida homes?
Just curious.
 
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Curious what you would call fun in the sun?
Sports? Theater? Boating? Beaches? Shopping?
Between Murrells Inlet SC and Wilmington NC there is a whole range of options for homes and lifestyles.
I guess if you are not a golf, beach, boating, coastal activities person ... well I dont know...

What do you have in NY and Florida homes?
Just curious.

Fun in the sun for me is a host of activities. I enjoy the beaches but not something I want to do daily. I do like early morning walks of 3-5 miles on the beach as the sun rises and a quick swim to start the day. I enjoy hiking, golfing, biking, photography, traveling, and discovering new towns, restaurants, and bars. Big foodie. Boating is fun but nothing serious. I'll charter a small fishing boat now and then and will take out a friend's pontoon boat for a spin in the Siesta Key area.

I've really liked the Sarasota area, especially Lakewood Ranch zip code. Somewhat in the middle of about 700 miles of coast between Panama City and the Keys. I love the west coast of FL but not so much the eastern seaboard. College sports and pro sporting events are a bonus.

To me, other areas are like going to Atlantic City when Las Vegas is a stone's throw away.

NY is a tough one! Such a great place with so much to offer but extreme politics has created a financial and social quagmire that I'll leave there so I won't get sanctioned. I'm about 55 miles north of NYC and live in the woods with some land and privacy on a small mountain. Without even hitting the city I have an incredible number of really good restaurants around me. North of me is the Culinary Institute and many chefs stick around and open their own restaurants. A little south of me in Westchester County, there are many, many, good restaurants.

Amazing fly fishing and decent hikes are not far from me in the Catskill's. Adirondaks, Green Mts. VT, White Mts., NH and Maine all within reach. I have a few excellent areas within 20 minutes to hammer away on a mountain bike. About 2 hours to many beaches on the Jersey Shore. That's all without even dropping into the city.

We haven't bought a home in FL just yet. Very close. We have been looking for over a year. Headed to see a few homes later this month. There are 2 homes that are high probability or us and a few we want to see.
 
I no longer wish to move to Florida purely for the crowds, but compared to the Carolina's, which I do love, it has a lot more to do.

Florida has 2 world class cities, Miami and Orlando. I like Charlotte but its not really close in comparison - probably better to raise a family but for entertainment not so much. Weather to use the beaches all year, SC somewhat, NC not so much. My kids have been swimming at Christmas in the gulf and in the keys. Fishing in Florida - both fresh and saltwater is much better. Also you have two very distinctly different coasts, not to mention the keys which have no where like them on earth.

I can certainly see the draw - or could when there were not so many people.
 
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At that price point, that home needs a minimum of three car garage, and a elevator. The home has the elevator, but garage is much to small at that price point.
Elevators are common in homes there...almost standard equipment in single family, new home construction. Garages...not so much.

The CEO of Utz potato chips has a summer home a few blocks away.
It was the most expensive property for years until this new construction came on the market. Potato chips are a lucrative business.
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Avalon is lovely. Always has been. A college buddy grew up near Philly, and his family had a home in Avalon. Used to go there often.

This one is a bit out of reach, for us, sadly.

No mention of the property taxes…
We made a very wise purchase in early 2010 when the market there truly did hit it's bottom. Just had a new roof, siding, soffits, fascia and Azek window trim done. Had the pool replastered 3 years ago. It's time to kick back and enjoy... even more so right after Labor Day.
 
It's the wrong coast for me. Having experienced coastlines around the world where I might like to live, New Jersey isn't in the running. I also agree with @GON, in that it has insufficient garage space, IMO.
Having a garage isn't as desirable a feature for most folks here. Storage space,yes, place to house your car(s), no.
 
Having a garage isn't as desirable a feature for most folks here. Storage space,yes, place to house your car(s), no.
Seems strange to me.

In an ideal setup I'd have at least 5 car bays--then a couple more for "storage", like for the lawnmower etc.

First time I parked in my garage after driving in the rain... got out, looked at the sopping wet car, looked out the door at the monsoon... I'm not sure I could ever go back. The ice scraper that I use in winter? I haven't had to replace it in a while, it is hardly getting used... oh what a joy, the small things in life. :)
 
I agree, but you also need to look at it completely - 1.4% decline + 3% inflation / wage increase (rough average of consensus estimates) looks more like a 4.4% real decline. Again, not a lot comparatively, but still meaningful economically.
Real inflation is probably closer to 10-13% YoY depending on who you ask. If you just use CPI methodologies from 1980, rather than its current (highly modified) iteration, it's still solidly in the 6-8%+ territory.
 
Elevators are common in homes there...almost standard equipment in single family, new home construction. Garages...not so much.

The CEO of Utz potato chips has a summer home a few blocks away.
It was the most expensive property for years until this new construction came on the market. Potato chips are a lucrative business.
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This ugly McMansion looks like something at Disney or Epcot World Showcase attraction.
 
Seems strange to me.

In an ideal setup I'd have at least 5 car bays--then a couple more for "storage", like for the lawnmower etc.

First time I parked in my garage after driving in the rain... got out, looked at the sopping wet car, looked out the door at the monsoon... I'm not sure I could ever go back. The ice scraper that I use in winter? I haven't had to replace it in a while, it is hardly getting used... oh what a joy, the small things in life. :)

He's not dealing with melted snow and ice dripping salt all over the place, and he likely never experienced the joy of mud season in New England :D
 
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