How Is the Florida Real Estate Market Like in 2021?
Current homebuyers are old enough to remember the rise of the housing bubble pre-2008. The rabid approach to real estate collapsed spectacularly, which proved to be just another symptom of the Great Recession that impacted politics, society, and families even today.
Today, housing prices have spiked 40% higher than they were in 2007. With such a significant jump, even the government is trying to step in. There is a perfect storm of factors contributing to this jump—a pandemic that scrambled typical population dispersal, an entire generation of millennials that put off home buying until this point, and limited construction of new homes—that the government is trying to prompt new construction.
However, if you’re looking for a home, there are still some great options available despite the price hike. Real estate is an investment, one that tends to gain value over the years if…