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KrazyinKS

(291 posts) Sun Dec 31, 2017, 10:49 AM Dec 2017

Rising 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

5 replies

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Rising infrastructure costs in Florida's real estate market (Original Post) KrazyinKS Dec 2017 OP

Albert Slap says it all... TheBlackAdder Dec 2017 #1

I'd think you'd have to be crazy Ohiogal Dec 2017 #2

Well, the steady cascade of republican lies about this very serious problem Achilleaze Dec 2017 #4

My daughter rents a house by Orlando KrazyinKS Dec 2017 #3

Fake news (Fox Business) posted this video three months ago Quemado Dec 2017 #5

TheBlackAdder

(28,210 posts)

1. Albert Slap says it all...

Reply to KrazyinKS (Original post)

Sun Dec 31, 2017, 11:03 AM

Dec 2017

What’s good for Slap isn’t necessarily good for the region’s property values. His customers include insurance companies worried that federal flood maps underestimate risk, as well as potential homebuyers trying to find out if they’re about to buy a house that will be regularly inundated by South Florida’s increasingly troublesome tidal flooding.

The region’s 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 problem—and as that happens, housing values will fall. And he said it’s 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.”

Ohiogal

(32,026 posts)

2. I'd think you'd have to be crazy

Reply to KrazyinKS (Original post)

Sun Dec 31, 2017, 11:06 AM

Dec 2017

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)

4. Well, the steady cascade of republican lies about this very serious problem

Reply to Ohiogal (Reply #2)

Sun Dec 31, 2017, 11:43 AM

Dec 2017

has totally confused and screwed over a lot of Americans. Republican lies are profoundly dangerous. Beware.

KrazyinKS

(291 posts)

3. My daughter rents a house by Orlando

Reply to KrazyinKS (Original post)

Sun Dec 31, 2017, 11:24 AM

Dec 2017

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)

5. Fake news (Fox Business) posted this video three months ago

Reply to KrazyinKS (Original post)

Sun Dec 31, 2017, 01:06 PM

Dec 2017

[link:

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I'm just pointing out the propaganda put out by fake news (Fox Business), about Florida real estate post-Hurricane Irma.

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