Norminn wrote:
There should be some good fire sales in a year or two. Very weird to go
for a drive after dark and see a highrise with one or two lights on in
the whole building. Buyers don't live in 'em. Wonder what percent of
them are owned by flippers who can't unload and put their last dime into
them?

About a year and a half ago at the peak of mad investor
rush to drive up prices, I learned of an incredible statistic:
26% of properties in Sarasota are owned by investors
(not homeowners living on the property).

The stockmarket crash of the early 2000's caused the
huge number of wealthy people in SW Florida to take
their money and invest in tangible property here. That
combined with very low interest rates just caused the
great run-up in prices. After all, properties were
fantastic investments and the wealthy took advantage
of it.

I feel bad for younger or poorer people though, who
now have little hope of home ownership anymore.
The $300K home (now) was 85K 6 or 7 years ago.

thetiler