Empty ghost towns are overtaking Florida (2008 repeat underway)

Manatee County or Bradentucky?

I guess Kenner has the most cash out of any house builder

And it’s hot as hell

Sounds like 2005 builders did it then too building like crazy when crash is coming

What this activity is saying is that the builders have had a massive amount of profit during the good times, and now that they are selling the houses at a great discount, it's still profitable for them, although not by as much. I guess it also could say that they had already purchased the land, and that land is now close to worthless, so they might as well continue to build houses. The fact that they are building townhouses (Nick, you of all people should know what this is, LOL) means that they understand that the growth in demand will be for smaller houses, with the supply of existing big houses enough to satisfy that demand.

actually this reminds me more off 2013 when i was a utility locator and all the builders were building building building like crazy in riverview, brandon, lithia area...alot of homes and not many buyers but eventually buyers came...2008 was NOTHING LIKE THIS..people were losing their homes, .stop the bullshit man

APARTMENTS FLORIDA MAJOR STRUCTURAL PROBLEMS! CANT EVEN SELL THEM!
SAME DEAL AUSTRALIA! 2025 🤫🤫🤫

You couldn't pay me to live in Florida.

Just a reminder that a 50% increase is fully wiped out by a 33% decline. A 100% increase "only" needs a 50% decline.

Those houses look like cardboard. The rental "home" is probably $2,300.

Start renting them lol...

I got divorced in jan 2024 and sold two rental homes I own during the process. I felt like I got the top price possible at sale time. We had a lot of business cash and assets, so both made out well. I put the cash in Hysa and equities, and am still waiting to see the bottom in housing. LFG

And I’m sure they are employing illegals to work on the constructions

I would only buy a home attached to a neighbor if it was a high rise with view and solid walls

I hope lennar loses their butts

The contractors keep building because that is what they were contracted to do. They cannot breach their contract and must fulfill it. They have expenses to cover and workers to pay. FYI: good luck getting insurance for your home in FL!

9 to 10 percent drop is really not that drastic. Historically speaking. It's not 2008 numbers.

I don’t know about people buying houses. But I know the people moving here has not stopped. Definitely not in Sarasota/Manatee County. I grew up here every single person I meet says they just moved here from somewhere else. I don’t know if they all work remotely or what the deal is, but everybody is still moving here. So they must be renting. And definitely nothing is going down in price, but it doesn’t seem to matter.

I'm a carpenter and am waiting for the market to crash so that I can purchase raw multi family land and build an 8-plex. I think I'd need probably 10 to 20 doors in order to retire. If I did all the work myself than I could save a lot of money on the labor cost and that's what I will most likely do.

Two reasons for people leaving, the cost of hoa's and the rising cost of home owners insurance, have to replace your roof every 5 yrs or so even though you may not need one

Instead of lowering rents or selling for decent affordable prices better keeping them empty and HOMELESS everywhere. We are disgustingly as society. 😢😢😢😢

Those townhomes are pretty dark if you are not the one on the end.

I can't even begin to imagine building or buying a home in Florida with the sick DeSantis government running the show, the difficulty in getting house insurance, the instability of the economy because of Trump and that's before we even begin to consider the problem of hurricanes. You would have to be crazy to live in Florida.

He he…He said penetration 🥹👏🥴😃. This said, I love FL, but I am seeing this everywhere.

250k inOrlando ???? Lennar????

Wow, I was going to buy one of Lennar townhome close to CountyLine rd back in 2021. It had a nice pond view and price around $250k. But when I went there to see the site, workers were drinking and partying while at work?! 😳 Didnt like what I saw and never went with it.

Student loan garnishments
Job losses
Extremely low family building
Expats.

It's over.

Real estate industry will crash economically. Pennies on the $USD. NO. Not looking to buy.

LOL 50%+ off! I’ve been saying this for quite some time!

That community is where I brought materials for those builds. I would never buy any home from any of the builders. I saw first hand the very poor quality of the pre-slab packs and the pre-cast packs. Not now, not ever.

Housing market where I live in Florida is going down fast. They auction Foreclosure homes every month and the list is getting longer and longer. My friend just got laid off from one of the main roofing companies because they have no work. But another thing people fail to realize that has fueled this crazy housing market is social media. Everyone wants to show off them buying a new house now and then reality is hitting them and they’re bailing out. It’s going to get terrible here soon. I bought my first home in 2011. A block 3/2.5 1900 sq ft on a half acre for $74,500. Housing market was booming before then too, and it will happen again.

Lenar all garbage cookie cutter crap.

Those townhomes look like military barracks lined up. No thanks.

😂 well yall keep arresting poor immigrants. how is construction gonna get done

They’re called “row homes” up north.

Let the federal government and state buy these houses to housed the millions homeless Americans:

The only way the market will balance itself with the current interest rates is thru a massive crash to 2019 levels maybe even lower

Low Income people buy these "Connected" housing options. Condos are good.. EXCEPT for the HOA / Taxes /and assessments. Florida will correct Quickly. Idiot builders will foreclose.

Is 250, 000 considered cheap

Who there. Goes the proper taxes😅

Well the people should be very careful buying into these developments where they're only 1/3 or 1/10 of capacity. During the last crash people found out the hard way that when a community is not fully occupied they either have to jack up the hoa's to pay for maintenance and lawn care or they have to cut them out and cut back on services because the costs are designed to be spread over a fully inhabited community

Nobody wants to live in those big ugly houses, crammed together . People with children needing that many rooms want single housing with at least a yard and privacy, where they kids can make noise and be free. Those neighborhoods dont appeal to me, at all .

Phoenix Metro area is NUTS!!!!! I can't wait to see the drop here

HOA fees are $2000 a month for Lennar community

Florida for me is and has always been a NOPE! Nobody in Florida is from Florida for a reason.

Cheap houses . With the water and wind damage . Who in their right mind would buy in Florida . This is Gigi to get bad , tell the truth !

Looks like an absolute miserable place to live. Souless suburban sprawl. More rural landscape marred.

The migration slowed but there are still plenty of buyers left in the rental market that came down during the pandemic too late because from 2020 to 2022 Florida saw a 51% boom in pricing and sales. Plenty of these renters are now buying. If you look at multifamily housing across Florida you will see the trend most multifamily communities are down to or below 85%. The biggest fallout will be in that sector and the condominiums. I agree the correction is coming but it will pale in comparison to the boom experienced from 2020 to 2022. Manatee county and a lot of the counties on the west coast had cheap land for the builders and they purchased as much as they could. While they may not hit projections for their investors they will still turn a profit. Lennar has very tight margins they know how to make money. If people overpay for housing by 20,30 or 40 percent an 8,6,5,4,3 percent correction is not going to hurt as long as it doesn't jump to 20,30. Most of the people affected just bought during the boom and most likely wouldn't be looking to cash out just yet. I appreciate the perspective as I hope you do mine.

Good they're destroying Florida land with all these housing communities. Florida isn't going to be here if we keep ripping all the trees out