Florida – unaffordability & foreclosures

See the video: Foreclosure WAVE in Florida Getting BAD

I have been saying over the past year (in 2022) that I was feeling like I was back in 2005 selling real estate. Back then, prices were going up by the week in Florida, and there were more buyers than there were properties on the market for sale.

Hurricanes hit and insurance rates went up. Name brand insurance companies were pulling out of Florida back then. And because of higher real estate prices, property taxes went up noticeably by the end of 2006. So, by the end of 2006 (which is more like what may happen in 2023), people were putting their properties on the market for sale a little too late because that year is the year I actually saw a slowing in sales and prices going down as a result. By the end of 2007, we were ripe for the 2008 crash when foreclosures and short sales made up a lot of the properties coming on the market.

This video is current….and this presentation will explain what we might see coming in 2023, especially in Florida. If you are thinking of buying or selling anywhere (but especially in Florida), this is something you should see.

About Mary Kelly

Mary Kelly is a retired community college professor, a licensed real estate broker in the states of Florida and Georgia, and a writer. She has three masters' degrees and is an avid reader - mostly of non-fiction. Her areas of study and experience are in business, computer science, and education. She currently resides in Waycross, Georgia, and her home is truly furnished for the comfort and convenience of her dogs. She loves the outdoors and loves walking in parks along lakes and on beaches. And she is somewhat of a minimalist and doesn't value having a lot of possessions.
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