There are concerning signs in Florida’s real estate market. Real estate giant Blackstone has begun liquidating its housing portfolio in the state, selling properties at a loss. For instance, they’ve listed homes in St. Petersburg at prices lower than their purchase costs, such as a house bought for $380,000 two years ago, now listed for $370,000—a $10,000 loss. This trend suggests potential trouble ahead for home prices, particularly in markets like St. Petersburg. The broader impact of Blackstone’s decision to sell at a loss indicates a possible market downturn, contrasting with the pandemic era when institutional investors aggressively bought properties, driving up prices and reducing inventory. As investor ownership plays a substantial role in the U.S. housing market, this shift could trigger further declines in home prices, affecting both large corporations like Blackstone and smaller mom-and-pop investors.
Blackstone fire selling houses in Florida pic.twitter.com/FbacRL8ylz
— Darth Powell (@VladTheInflator) August 17, 2024
totally different pic.twitter.com/JBBjnX5Pdz
— Darth Powell (@VladTheInflator) August 17, 2024
“not in Florida” t.co/FN9mG5De8f pic.twitter.com/Sx9b6iAxUq
— Darth Powell (@VladTheInflator) August 17, 2024
A condo building collapsed in 2021, after that the law was changed requiring more inspections and that the condo associations have enough money in their reserve funds.
So now condo owners are getting his with massive assessments, often above $100,000+ to comply with the new… t.co/BaAhuHFRXH
— 🇺🇸Travis🇺🇸 (@Travis_4_Trump) August 17, 2024
Housing prices are falling
Inflation isn’t going down
Unemployment is skyrocketing
The Federal Reserve mandate on inflation is 0%There, reality without government propaganda.
— Darth Powell (@VladTheInflator) August 17, 2024
Sources:
greenbuildingelements.com/concerning-development-blackstone-selling-florida-homes-at-a-loss/
www.isoldmyhouse.com/firesale-investors-are-mass-selling-in-florida-the-housing-crash-is-here/
