Here’s a big thing you missed, 4 of the top 10 cities you mentioned were absolutely devastated by hurricanes during the years mentioned. Fort Meyers, Naples, North Port, and Asheville are the ones I know of the top of my head, but I wouldn’t be surprised if something similar happened at the others. I have a family member that sold his house to someone local who was renting to leave and never come back. If enough people did that, it could decrease rent sizably. I think natural disasters are outliers that are hard to generalize from.
Great point. I wonder how Galveston, TX, fits into this narrative. Hurricane Ike caused a wave of out-migration and after rebuilding the island has seen a decade-long wave of investor-landlord activity which is kind of unwinding now.
Here’s a big thing you missed, 4 of the top 10 cities you mentioned were absolutely devastated by hurricanes during the years mentioned. Fort Meyers, Naples, North Port, and Asheville are the ones I know of the top of my head, but I wouldn’t be surprised if something similar happened at the others. I have a family member that sold his house to someone local who was renting to leave and never come back. If enough people did that, it could decrease rent sizably. I think natural disasters are outliers that are hard to generalize from.
Great point. I wonder how Galveston, TX, fits into this narrative. Hurricane Ike caused a wave of out-migration and after rebuilding the island has seen a decade-long wave of investor-landlord activity which is kind of unwinding now.
Interesting point, thanks for sharing!
Some really interesting data and graphics! Thanks for your work
I see DC is not on the list...
Great read. Please read my latest post on housing advocacy:
https://substack.com/@nogoplus/note/p-176168396?r=6cyw21
Apartment prices reflecting supply/demand of apartments. House prices reflect supply/demand of mortgages.
Bldg #7?
https://youtu.be/Mamvq7LWqRU?si=VZKQDzxLWOO4HEVO