@jonbrooks Boomer has seen 2-3 crashes.
Boomer knows what happens to value in crash.
Boomer had 3 home that were 600K each
Boomer looses 10% (180K)
Boomer fire sales 2 homes, keeps the primary and waits to buy the bottom.
@DianaOlick@MBAMortgage@mortgagenewsmnd Prices too high!
The very thing your network refuse to engage.
Whatever you do DONT talk about the 1000 sqft unaffordable, POS with no upgrades going for 1.2M???
@MitchGordon_@MadMoneyOnCNBC@CNBC@Trulieve@Trulieve_IR@rivers_kim@jimcramer @ 140M tourists travel to FL each yr!
Florida welcomed a record-breaking 143.3 M visitors in a recent calendar year. The state's tourism breakdown consists of: Domestic travelers: ~131.1 million (about 91.5% of total visitors)Overseas travelers: ~9.3 M Canadian travelers: ~2.9 M
Home values declined in over 60% of US counties in April 2025.
The only other two times we saw this breadth of home value declines was the 2008 crash and the 2022 mortgage rate spike.
More than half the country is now officially in MoM declines. Indicating that the housing downturn is spreading.
We'll have to see if this lasts into the future, and if it turns into a sustained correction like 2008 or is a blip like 2022. But given the trajectory of listings and inventory, it seems like more value declines are coming.