Quote:
Originally Posted by Laker14
It seems several things are at play here (Big Surprise! Economics is complicated)...
1. Post-pandemic bubble (low interest rates + people learning to work remotely + some jobs going away and people being forced into retirement + other stuff?) ends, as all bubbles eventually do.
2. Interest rates for mortgages double, then triple
3. Developer continues to build new homes
4. Old people continue to age out of TV
I'm sure I left a few things out...but those things I mentioned are more than enough to slow things down and increase inventory. It's not a great time to be forced to sell. It might be a fortuitous time to buy, if you are looking to buy a home in TV.
Markets swing. Welcome to the real world.
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You NAILED it!
I’m 57 and I visit TV as much as possible, which is 2-3 times a year. My husband and I still work full time. My parents have owned a home there for 15+ years. We’ve been looking into buying a home there. One thing I may add is a concern that my children (30 and 34) worry about and that is the fact that baby boomers are dying and the generations below them can’t afford to do what even my parents did (own 2 homes). They have also warned me not to buy there because TV won’t sustain the current situation. Specifically #2 and #3 and what I stated above about not having the funds that the boomer generation has.
So, is buying a home in TV a good investment? I don’t want to overpay and have a house that’s worth half in the end. I am fortunate that I can afford to own 2 homes, but I would have to rent it out to help pay the mortgage to sustain two homes until I retired where I would/could move down full time if I chose to.
BTW I happen to love TV!
Please be kind as I am kind. I don’t need someone who thinks they’re the smartest person on the planet (there’s a lot) being nasty and spewing smart ass comments.
~ Thank you.