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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRising infrastructure costs in Florida's real estate market
I just read an article (link below) about rising sea levels, hurricane Irma, flood concerns and the rising infrastructure costs in Florida's real estate market.
https://www.msn.com/en-us/money/realestate/floridas-real-estate-reckoning-could-be-closer-than-you-think/ar-BBHtiex?li=BBmkt5R&ocid=spartandhp
It got me to thinking about all the million dollar homes that are not selling and where future proposed infrastructure money in DC will go. Think Palm Beach , think Maralago
TheBlackAdder
(28,211 posts).
The regions frothy home values, Slap said, have persisted because of what he calls a dirty little secret among real estate agents, who are aware of the flood risks but face no requirement to disclose them to buyers.
Slap said the increase in his business shows that buyers are starting to become more aware of the problemand as that happens, housing values will fall. And he said its only a matter of time before real estate agents are required by law to reveal those flood risks, noting that the U.S. House of Representatives passed a bill to that effect in 2017. The Senate has yet to take it up.
The alternative is a housing market kept afloat by systemic fraudulent nondisclosure, Slap said. Which is pretty much what we have now.
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Ohiogal
(32,036 posts)to invest a lot of $ into real estate down there right now.
I don't know what the solution is, but it seems like things are only going to get worse.
Achilleaze
(15,543 posts)has totally confused and screwed over a lot of Americans. Republican lies are profoundly dangerous. Beware.
KrazyinKS
(291 posts)She says the owner paid $350K for the home and it is now worth $200K. Now that is a tumble, and yes it did say the realtors do not have to disclose flood risks. What I found interesting is that people are now taking climate change seriously. I do estate sales and I still remember running a sale and some old guy came up to me and said he did not believe in global warming. I had to tell him climate change is not a religion, you do not go to church and worship the climate change god. It is science and science does not care if you believe in it or not. It is based on facts. Boy was he confused.
Quemado
(1,262 posts)[link:
|I'm just pointing out the propaganda put out by fake news (Fox Business), about Florida real estate post-Hurricane Irma.