Empty ghost towns are overtaking Florida (2008 repeat underway)

Описание: Access the data at www.reventure.app. Home builders across Florida are aggressively cutting prices on houses in the worst housing downturn we've seen since the 2008 housing bust. In this video, I walk you through a home building site in Parrish, FL, where there are dozens of homes for sale and more to be completed.

The builders - Lennar, DR Horton, KB Homes - are continuing to build in Florida even though the market is correcting. Home Values are down -3.1% over the last year across the state, and on the West Coast of Florida they're down almost -10% in certain markets.

The builder pipeline is one main reason, as excess inventory of homes for sale keeps hitting the market. In this video, I walk you through a Lennar home building site, and they have so many homes for sale. Some as cheap as $255,000.

Data from Zillow shows that home values in Florida are dropping in nearly every county and ZIP codes, with markets with the biggest downturn being Punta Gorda, Cape Coral, Sarasota, St. Petersburg, and Naples.
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