So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Southern boomtown collapses into housing hell
Once a pandemic boomtown where people could work remotely from the ocean, a Southern city has transformed into a housing market nightmare.www.dailymail.co.uk
Hmmm…
Inside The Rise Of America’s Fastest Growing City
July 24, 2025
In 2020, there were 17,000 people living in Princeton, Texas. It grew to 28,000 in two years and then to 37,000 last year, when it topped the Census Bureau's list of the fastest-growing cities in the country.
@DC_Dude - "Let it be known. I am officially a homeowner. Bring on the ho, ho, heaux ... there's not a moment to waste!"
This Metro Vancouver floating home is selling for $3.9 million
It has a huge deck outside, and its own dock.
www.burnabynow.com
Extreme weather is making home insurance more expensive. Here’s how you can keep costs under control
Personal finance contributor Christopher Liew on how climate change is driving home insurance premiums up, and what homeowners can do to keep costs from skyrocketing in the coming years.
@DC_Dude - "Let it be known. I am officially a homeowner. Bring on the ho, ho, heaux ... there's not a moment to waste!"
Seniors rarely downsize. Here’s why it hurts first-time homebuyers - National | Globalnews.ca
Experts say it's a myth that seniors who own their homes are keen to downsize to fund their retirements, when the reality is they're largely staying put.
globalnews.ca
Alarming report warns that huge number of once-valuable homes may soon be 'worthless': 'State of crisis'
Simon Sage
July 22, 2025
www.yahoo.com
…California has been battered by catastrophic wildfires in recent years, leaving properties and lives in shambles.
Direct air capture company Deep Sky has released findings showing that one in five homes in the most extreme fire risk areas of California have lost insurance coverage since 2019. Many insurance companies pulled coverage just months before the record-setting Palisades fires in January 2025...
Simon Sage
July 22, 2025
Alarming report warns that huge number of once-valuable homes may soon be 'worthless': 'State of crisis'
"This is not a game."
…California has been battered by catastrophic wildfires in recent years, leaving properties and lives in shambles.
Direct air capture company Deep Sky has released findings showing that one in five homes in the most extreme fire risk areas of California have lost insurance coverage since 2019. Many insurance companies pulled coverage just months before the record-setting Palisades fires in January 2025...
Vancouver real estate prices decline, still highest in country: report
The latest report on real estate around the country has come up with a familiar result -- it's expensive to buy in Vancouver.
vancouver.citynews.ca
Abandoned NYC airport will land 3,000 new homes, Mayor Eric Adams announces in ‘housing week’ kickoff
The marshy, abandoned Flushing Airport site in College Point, Queens will land 3,000 new homes under a plan announced Monday by Mayor Eric Adams. Construction is expected to begin in 2028, with New York City Building Trades unions providing both labor and pension fund dollars to finance the project, officials said.
By Hannah Fierick and Matt Troutman
July 28, 2025
nypost.com
The 80-acre site has been abandoned for 40 years and largely reverted to wetlands.
The marshy, abandoned Flushing Airport site in College Point, Queens will land 3,000 new homes under a plan announced Monday by Mayor Eric Adams. Construction is expected to begin in 2028, with New York City Building Trades unions providing both labor and pension fund dollars to finance the project, officials said.
By Hannah Fierick and Matt Troutman
July 28, 2025
Abandoned NYC airport will land 3,000 new homes, Mayor Eric Adams announces in ‘housing week’ kickoff
The marshy, abandoned Flushing Airport site in College Point, Queens will land 3,000 new homes under a plan announced Monday by Mayor Eric Adams.
nypost.com
The 80-acre site has been abandoned for 40 years and largely reverted to wetlands.
I'd check those floodplane maps before I'll consider.Abandoned NYC airport will land 3,000 new homes, Mayor Eric Adams announces in ‘housing week’ kickoff
The marshy, abandoned Flushing Airport site in College Point, Queens will land 3,000 new homes under a plan announced Monday by Mayor Eric Adams. Construction is expected to begin in 2028, with New York City Building Trades unions providing both labor and pension fund dollars to finance the project, officials said.
By Hannah Fierick and Matt Troutman
July 28, 2025
Abandoned NYC airport will land 3,000 new homes, Mayor Eric Adams announces in ‘housing week’ kickoff
The marshy, abandoned Flushing Airport site in College Point, Queens will land 3,000 new homes under a plan announced Monday by Mayor Eric Adams.
The 80-acre site has been abandoned for 40 years and largely reverted to wetlands.
See the comments / general discussion ...
Landlord who evicted tenant, then offered to take him back at double rent, loses in B.C. court
A landlord who evicted her tenant so that she and her family could move into the property, then seemingly offered to re-rent the property to the tenant for double what he had been paying, will have to pay him $30,100 in compensation after losing in B.C. Supreme Court last week.
Vancouver explores subdividing laneway homes
The City of Vancouver is looking at opening more avenues to home ownership.
I remember druing the height of COVID and remote working, there were all these stories of people moving to these bumfuck towns in flyover country (the large, but sparsely populated states like Idaho/Wyoming/Montana/Dakotas etc...) due to lower cost of living and wanting to get out of crowded cities.
I'm sure once they got out there and the reality of being relatively isolated in the middle of nowhere and long travels just to get to essential stores/gas stations, along with the return to the office movement, many of those people returned close to where they came from or to areas closer to big cities. I'd be interested in knowing relocation trends of the Covid years to the recent couple of years of how many people are returning to the larger states and close to cities.
Net domestic migration: Which states are gaining—and losing—Americans
Summarize
While Sun Belt states like Texas and Florida continue to see positive net migration, it’s far less domestic migration than during the Pandemic Housing Boom.
This month, the U.S. Census Bureau published their net domestic migration figures for 2024.Keep in mind that this metric (net domestic migration) is NOT total population change. It doesn’t include births/deaths nor international migration.
Instead, net domestic migration is calculated as the difference between the number of Americans moving into a given state (in-migration) and the number of people leaving that state (out-migration) over a specific period.
These 5 states saw the biggest net domestic migration INCREASE between July 2023 and July 2024:
- Texas —> +85,267
- North Carolina —> +82,288
- South Carolina —> +68,043
- Florida —> +64,017
- Tennessee —> +48,476
- California —> -239,575
- New York —> -120,917
- Illinois —> -56,235
- New Jersey —> -35,554
- Massachusetts —> -27,480
Indeed, Florida saw net domestic migration of +64K in 2024, compared to +314K in 2022, while Texas saw net domestic migration of +85Kin 2024, compared to +222K in 2022.
To better illustrate the recent deceleration of domestic migration to Texas and Florida in the Sun Belt and how domestic migration patterns are shifting, ResiClub created maps of net migration from prior years. Keep in mind that the data published by the Census allows us to calculate shifts from July to July (e.g., July 2023 to July 2024) rather than exact calendar year net domestic migration.
Click here to view an interactive of the 2024 map below
Click here to view an interactive of the 2023 migration map below
Click here to view an interactive of the 2022 migration map below
Click here to view an interactive of the 2021 migration map below
Click here to view an interactive of the 2020 migration map below
Click here to view an interactive of the 2019 migration map below
Migration shifts—and changes in the pace of migration—matter for the housing market, as they can shift the local supply-demand equilibrium.
Many of the softest housing markets, where homebuyers have gained leverage, are located in Sun Belt regions of the Gulf Coast and Mountain West. These areas were home to many of the nation’s top pandemic boomtowns, which experienced significant home price growth during the pandemic housing boom, which stretched housing affordability far beyond local income levels. Once offices reopened and mortgage rates spiked, pandemic-fueled migration quickly slowed in many parts of Texas and Florida.
Once that happened, markets like Punta Gorda, Florida and Austin, Texas faced challenges as they had to rely more on local incomes to sustain frothy home prices.
The housing market softening in these pandemic boomtown areas was further accelerated by the abundance of new home supply in the pipeline across the Sun Belt. Builders in these regions are often willing to reduce prices or make affordability adjustments to maintain sales. These adjustments in the new construction market also create a cooling effect on the resale market, as some buyers who might have opted for an existing home shift their focus to new homes where deals are still available.
The maps above show net domestic migration WITHOUT taking into context how big or small that shift is relative to the state’s population.
So to give another perspective on the data, we calculated net domestic migration shown as a ratio per 1,000 residents for 2024, 2022, and 2019.
This calculation shows that South Carolina is experiencing the largest influx of net domestic migration relative to its current population. For every 1,000 residents in South Carolina, the state added a net total of 12 new residents from other states.
Here’s the per capita shift in 2024
Here’s the per capita shift in 2022
Here’s the per capita shift in 2019
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