Quote:
Originally Posted by Normal
Part of the pinch is 55% of all home purchases in the Villages are financed.
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Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.