1) One of the reasons the seller on this listing had to cut so much is because of massive oversupply in the market.
Inventory in Punta Gorda is up almost 800% from pandemic low in this ZIP code.
And is double pre-pandemic levels.
Thus: you need to cut massively to sell.… pic.twitter.com/xzgB3wYZYw
— Nick Gerli (@nickgerli1) September 24, 2024
3) I just talked about Blackstone selling the other day.
They cut the price $75,000 on this listing below what they paid for it in 2022.
15% haircut in less than 3 years. pic.twitter.com/JNJQrXFjYz
— Nick Gerli (@nickgerli1) September 24, 2024
5) I lived in Austin when the housing downturn there started in 2021-22 and I don't remember seeing these type of declines happen this quickly.
It took like a year for the Austin housing downturn to really start showing major declines.
In Florida it seems, at least from the on…
— Nick Gerli (@nickgerli1) September 24, 2024
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