Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand
Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand
Home prices fell in five parts of Florida and Texas as buyers balked at high values and steeper mortgage rates, and supply caught up with demand.
![Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand](https://lemmy.world/pictrs/image/63f31b2b-1061-4e66-8330-92b6cac4299a.jpeg?format=webp&thumbnail=256)
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Why am I not surprised that skyrocketing insurance premiums kill the housing market?
1 0 ReplyInsurance rates aren't skyrocketing in Texas.
0 0 ReplyYes they are. Source: family member who works for an insurance broker and two friends who are agents.
Most people saw a 20-40% jump depending on where they filed a claim in the last 2 years.
0 0 ReplyInsurance rates are rising everywhere. There's nothing particularly bad happening in Texas that's making insurance rates rise unlike Florida.
Long story short, you can't explain falling Real Estate prices in Texas with rising insurance rates. Boston and Philadelphia are still seeing Real Estate appreciation.
0 0 ReplyBoston and Philadelphia are both in states where you can still get an abortion. No one wants to move to these shit hole red states.
1 0 Reply3 back to back winter storms and increased damages from hail and wind during tornado/storm seasons.
1 0 Reply