Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain

Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand (www.yahoo.com)

submitted 8 months ago by SeattleRain to c/housing_bubble_2

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[–] Treczoks 13 points 8 months ago (1 children)

Why am I not surprised that skyrocketing insurance premiums kill the housing market?

[–] SeattleRain 0 points 8 months ago (1 children)

Insurance rates aren't skyrocketing in Texas.

[–] sprack 3 points 8 months ago (1 children)

Yes 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.

[–] SeattleRain 2 points 8 months ago (2 children)

Insurance 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.

[–] sprack 2 points 8 months ago

3 back to back winter storms and increased damages from hail and wind during tornado/storm seasons.

[–] hedgehogging_the_bed 1 points 8 months ago

Boston and Philadelphia are both in states where you can still get an abortion. No one wants to move to these shit hole red states.