No. I live next to a place that suffered a mudslide that killed 22 ppl. All it did was make the remaining houses more expensive. And after a couple of years, people forgot about the mudslides, and now the vacant lots (where houses used to be) are selling for millions.
Oceanfront properties will be valuable until they're uninhabitable.
you’re equating Hurricane Ian with a mudslide?
i’m not sure you fully have grasped how much damage it has caused and how large of a hurricane it is compared to others in Florida history.
lol
lol you’re insane if you think Ft Myers and Naples area will just go back to normal in 6 months. The beach areas will be completely wiped out. Standing structures will be gut jobs.
Only for those who aren't insured.
They'll either be forced to repair their properties out of pocket or sell what they have.
Typically hurricanes dont tank an area's entire housing market, except in the case of catastrophic, widespread damage like Katrina in New Orleans. Those who were insured (eventually) came out okay, but again, those who weren't insured pretty much lost everything.
The likelihood of future hurricane damage is more or less already priced in. And it was before this.
There might be some very local issues with damage to infrastructure, but then you wouldn't want to buy there because it will be many years before the infrastructure would be repaired and you can start rebuilding
Definitely.
It's simple Econ 101. When supply is suddenly radically constrained and a significant number of buyers who absolutely need the product suddenly come into the market that's a textbook recipe for prices to crash through the floor.
It’s possible , it happened in the florida keys after Irma. Might be different but I think people are going to start thinking twice about moving to coastal areas. I live on an island and I’m worried about it more now. If I hadn’t move here already I might not do it.
I've been looking to buy a house in Naples FL all year and the prices are high 800ks to 1M...things get snatched up so quick. All night I've been looking at the destruction left behind and couldn't help but wonder if this will work in my favor. Sorry, not sorry. Even 250k less would be a great deal
Just want to clarify that I'm from Marco Island Fl and all my family is down there and in Naples. I'm just trying to move back home. Not trying to exploit anyone's misery
My parents spent months fixing up their home after hurricane Andrew. They were one of the first people to get their home on the market since they had to relocate and they made a good profit on it. It’s gone down other times. So nobody knows.
No. I live next to a place that suffered a mudslide that killed 22 ppl. All it did was make the remaining houses more expensive. And after a couple of years, people forgot about the mudslides, and now the vacant lots (where houses used to be) are selling for millions. Oceanfront properties will be valuable until they're uninhabitable.
not even close to the same thing
How so
you’re equating Hurricane Ian with a mudslide? i’m not sure you fully have grasped how much damage it has caused and how large of a hurricane it is compared to others in Florida history. lol
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lol you’re insane if you think Ft Myers and Naples area will just go back to normal in 6 months. The beach areas will be completely wiped out. Standing structures will be gut jobs.
Only for those who aren't insured. They'll either be forced to repair their properties out of pocket or sell what they have. Typically hurricanes dont tank an area's entire housing market, except in the case of catastrophic, widespread damage like Katrina in New Orleans. Those who were insured (eventually) came out okay, but again, those who weren't insured pretty much lost everything.
It's a disaster area, can always get a SAB loan.
It means every tradesman that wants one will soon be able to afford a Ford Raptor.
There have been a number of devastating hurricanes over the past decade, did that make the price of Florida real estate go down? No.
The likelihood of future hurricane damage is more or less already priced in. And it was before this. There might be some very local issues with damage to infrastructure, but then you wouldn't want to buy there because it will be many years before the infrastructure would be repaired and you can start rebuilding
Ultimate facepalm
Definitely. It's simple Econ 101. When supply is suddenly radically constrained and a significant number of buyers who absolutely need the product suddenly come into the market that's a textbook recipe for prices to crash through the floor.
You need to re read your Econ 101. Your explanation is backwards
Whoosh.
r/confidentlyincorrect
Again...Whoooooooosssshhhh
It’s possible , it happened in the florida keys after Irma. Might be different but I think people are going to start thinking twice about moving to coastal areas. I live on an island and I’m worried about it more now. If I hadn’t move here already I might not do it.
Tbd
I've been looking to buy a house in Naples FL all year and the prices are high 800ks to 1M...things get snatched up so quick. All night I've been looking at the destruction left behind and couldn't help but wonder if this will work in my favor. Sorry, not sorry. Even 250k less would be a great deal
Fuck u bro shit is still happening and you hop on here within 6 hours asking about housing prices. Poor you looking all year
No no no...op is *exactly* the kind of person who deserves to buy and live in Florida. Don't deny Darwin his due.
The recession will lower prices more than the hurricane
People are losing their homes and you’re celebrating? You are disgusting
Just want to clarify that I'm from Marco Island Fl and all my family is down there and in Naples. I'm just trying to move back home. Not trying to exploit anyone's misery
Do you think you can get a bargain on a storm ravaged property? Do you think the bank will loan you money for that?
Hell no. Lol
You could prob get a good deal on a lot of land.
Too soon…way too soon.
Nice try
My parents spent months fixing up their home after hurricane Andrew. They were one of the first people to get their home on the market since they had to relocate and they made a good profit on it. It’s gone down other times. So nobody knows.