From Yahoo Finance:
These Are the 10 Most Overpriced Housing Markets in the U.S. — 5 Are in Florida
10. Nashville, Tennessee
- Average listing price: $420,932
- Expected home value: $296,827
- Difference between home value and list price: 41.81%
9. Tampa, Florida
- Average listing price: $361,065
- Expected home value: $252,643
- Difference between home value and list price: 42.9%
8. Deltona, Florida
- Average listing price: $334,978
- Expected home value: $233,050
- Difference between home value and list price: 43.74%
7. Detroit
- Average listing price: $226,101
- Expected home value: $157,046
- Difference between home value and list price: 43.97%
6. Palm Bay, Florida
- Average listing price: $345,520
- Expected home value: $238,308
- Difference between home value and list price: 44.99%
5. Lakeland, Florida
- Average listing price: $303,766
- Expected home value: $209,260
- Difference between home value and list price: 45.16%
4. Memphis, Tennessee
- Average listing price: $225,958
- Expected home value: $154,575
- Difference between home value and list price: 46.18%
3. Charlotte, North Carolina
- Average listing price: $355,613
- Expected home value: $240,670
- Difference between home value and list price: 47.76%
2. Cape Coral, Florida
- Average listing price: $375,812
- Expected home value: $251,100
- Difference between home value and list price: 49.67%
1. Atlanta
- Average listing price: $357,677
- Expected home value: $236,627
- Difference between home value and list price: 51.16%
First
Ten sitting at 408-area. If we breach, then 425. Stocks start getting soggy if so.
So I made the mistake of grabbing a quick garbage Taco from Del Taco (worse than Taco Bell) from Phoenix to Grand Canyon. Really no other options at the last gas station. Gave me food poisoning. It hit me slightly during the Grand Canyon hike. Somehow managed to complete the hike than drive all the way to Vegas immediately after with the poisoning. Lol, what a mistake.
* USED VEHICLE YEAR-OVER-YEAR PRICE DECLINE SECOND LARGEST EVER
* USED VEHICLE PRICES FALL 10.3% FROM A YEAR AGO: MANHEIM
This is more important than many appreciate
– used cars added +0.14% of the +0.44% Core #CPI MoM in May
– it is 1/3 of core inflation
¡Ay, caramba!
Sorry to hear BRT. Did the taco taste better going up or going down?
I hope you got over it fairly quickly and are feeling better now.
BRT
Sorry to hear that. Sucks to get sick on vacation.
BRT,
Sorry to hear your story. This might cheer you up:
https://youtu.be/3uy_qp240Ps?t=3
Looking at the Florida Atlantic data on real estate prices in grim’s post, I note a few things. It’s just a distance from drawn straight trendline of the zillow measure of the pricing of median-ish homes in an area. It’s amazing how big Florida home prices of that sort have moved over the past 23 years, falling in half from the RE boom peak, then tripling or more from the bottom around 2012 in most of these areas. These regions seem to be volatile, with demand from within combined from migration into town (that also falls away during economic downturns).
I’m shocked to see that they track Deltona real estate pricing as a top 100 market (near where I went to k-12, can’t imagine paying $300k for an average house there, not much less than in Orlando). But I hear that Deltona has become a suburb for the North Orlando area over the recent decades. It was sort of a failed planned community in the 60s and turned into just a cheap place to live when I was there in the 80s.
Florida….God’s waiting room.
My body is still in purge mode. Can’t go from eating from garden for 2 months straight to 2 days of fast food. Should be ok for tonight. Haha.
Mathematician George Dantzig was late to class one day in college and copied down a few problems he saw on the board. Thinking they were homework, he completed and turned them in not realizing they were actually two famous unsolved problems in statistics.
BRT
I feel your pain. Road trips in Texas I tend to eat Waffle House and chik fil a for breakfast and lunch or paneras since they are all over and don’t make me sick. Will be more adventurous for dinner and try a local place.
WSJ on the amazing turnaround in El Salvador when Bukele decided to arrest violent criminals.
So crazy maybe it could work in America 🤔
“The strategy has helped lower homicides by 92%, giving Bukele the support of nine of every 10 Salvadorans. Salvadorans illegally crossing the U.S.-Mexico border has dropped by 44%.”
wsj.com/articles/the-c…
We are beating the FED as if we are the center of the universe. Inflation is a problem in Western Europe. Japan hasn’t seen such inflation in 40 years.
What we are missing is the impact of what is going on in China – when Xi decided to pop the real estate bubble we should have realized that the deflationary wave from China is going to be huge – the bad debt mountain is enormous. We are going to realize the bringing manu back to the West is going to be inflationary for years. Cheap Chinese labor was what kept inflation down for years.
In retrospect, we also going to see that 2019 was the tipping point on the power of capital over labor. Besides changing demographics the move toward the $15 minimum wage has meant we have lost a ton of worker hours of people who had to take 2-3 jobs to get by. Our immigration policies are are so out of line with our labor force.
I think of this period as the big head fake. The CB’s tightening monetary policy is wrong headed for inflation caused by supply disruptions.
In the end, I think we so misunderstand and don’t really understand the Chinese economy – that China more than anything is what could drag the world into a major depression as well as a period of even greater political unrest. Note that the Chinese inflation numbers were scary but no one is commenting on the follow through.
We are f’d.
BRT – Hope you feel better soon. I was once very sick on a flight after a long weekend in Vegas, copies amounts of food and drink, and well could have been allot of things but whatever microbes I ingested they made sure I was going to lose weight and lots of it. Perhaps the late night food did me in, no idea really where I got it but the airport was spinning when I got there. I even had to take a wheelchair to the plane…They felt so bad for my sunburn and sickness they moved me to a seat near the bathroom, where I spent much of the flight…
BRT: You are not alone….
https://youtu.be/pde9ACMKRTs?t=51
Some time ago I had a layover in Sweden and booked a nice airbnb room just outside the airport in Uppsala. I got in late, I was out early, just needed a bed for a few hours. I remember the crunching of the snow as I made my way through quaint Swedish streets, and the warmth of the place as I finally got in. The host was a nice guy, mid level Greenpeace activist. I remember sitting in his kitchen with a beer chatting and feeling drenched with sweat. Our conversation awkwardly punctuated by the unmistakable and alarmingly loud plumbing sounds coming from my gut.
That entire evening was intense… I got really bad gallbladder pain, fever, body aches, awful awful endless diarrhea. It was so bad that after destroying his toilet for just over an hour, I contemplated taking a squirt out of the window of the bedroom I had rented just so I wouldn’t have to return to the common space to do it all over again. I had the window open and scoped out the drop zone and all. It. Was. Savage. Just vile.
I went straight to the ER from EWR.
Plot twist: I received a glowing review for that stay. I seriously thought about taking a squirt out this guys window (was like -15F outside) and got a glowing review. Huh.
As long as we are sharing food poisoning episodes, I might as well share my Lake Placid experience. We stopped at a sports bar/restaurant on our drive up the throughway. I was done in by a salad that had way undercooked steak in it. I mean, the meat was like carpaccio, but was not supposed to be. I ate in anyway, begrudgingly, since I was already in trouble with Gator for choosing a place that had nothing for the D to eat.
Well about six hours later, the family was getting ready for bed and I let out a huge fart (which is nothing unusual). Though, this blast was different. It smelled absolutely horrible. Not even like a bad fart, but more like unintentionally moldy cheese. It was gross even for me, and who doesn’t like their own brand? I should have known something was wrong, but about ten minutes later, I had to fart again and was strangely looking forward to another Bad News Bears reaction when I ended up sharting, for the first and last time in my life. I decided I better get the poison out and ended up stuck on the porcelain throne for the next six hours. I had the chills, cramps, dehydration and was just plain exhausted. I probably should have headed to the hospital for an IV, but I was afraid to reload the gun. So I fasted for twenty four hours, and finally ate a peace of plain toast the following morning. Just hours later, I was back in hell. Worst of all, I had to watch Jr’s hockey games standing by the exit to the concourse as I had the endless squirts for the rest of the tournament. I healed up just before making the drive back home. I literally spent about 24 hours of a three day weekend in the bathroom.
Lib, I’m still trying to figure out how I held it together. That drive from Grand Canyon to Las Vegas was like 4 hours.
That’s a tough drive with very few bathrooms enroute. And you can’t exactly wipe your ass on a cactus. Though, you can get a nice drink of fresh water from one, which few know.