Could Duval be heading for a housing crisis? Jacksonville among 7 Florida cities cited in new study

Local realtors are responding to what a study conducted by a national research team called “alarming signs” that could show a housing crisis is in the future for cities in the Sunshine State.

[@sadjaxx]

"Heading" !!! It's already there.

[@hot_sauce8579]

I own a small business in Jacksonville, Florida and as a native have stayed loyal to maintaining my business here in Jacksonville. The cost for me to have an employee with a salary in $75k/yr actually costs $112.5k per year in taxes, benefits, and salary. This 50% increase on top of salary is mainly due to taxes and a hike in benefit rates. As a Managed Services Provider, I have to pass the increases to my clients, and they have to raise their rates to compensate, and those increases roll down hill from there to the end consumer.
The housing issue here from what I have seen stems towards investment firms and realtors taking advantage of the market towards the end of the COVID Pandemic and buying up properties, flipping them, placing them back on the market at artificially inflated rates to make profit and hedge their investments against the natural inflation cycle.
What I want to be able to see in my Jacksonville Community is that people are able to sustain adequate housing at a maximum of 25% of their monthly income. This goal, while some would claim to be a lofty one is not out of reach and is achievable if we all work together. "It's no about what you have, it's about what you do with what you got." ~Joseph Eubanks~

[@larrybailey1896]

My Realtor told me this is the best time of my life to buy a brand new home....Realtors are used car salesmen in disguise..

[@KBTV904]

Yess and Dave Ramsey is getting a big commission . BUY THEN REFINANCEEE BLAHHH BLAHHH

[@jaybartgis5148]

@@KBTV904 isn't that what you were saying during covid when the rates were low? You're gonna "wait it out for the crash" and then "refinance later". Okay buddy. Your "crash" is here. So why aren't you buying?

[@jaybartgis5148]

@@wbay3848 they have budged.... skyrocketing upwards from the perspective of Total Cost of Loan. For 2 straight years we've been telling you that you're little "housing crash" ain't gonna happen and even if it did in theory: the discount on your list price *will not be worth the extra interest*

[@jaybartgis5148]

@@wbay3848 one of the greatest fundamental flaws in human psychology is the misconception that "waiting it out" or "not doing anything" somehow mitigates risk.

[@jaybartgis5148]

@@wbay3848 if wages kept up with inflation then we would be like Zimbabwe. It would snow ball.

[@psuesue2842]

This is all over the world

[@williambrennan5701]

the housing crisis of Jacksonville is the crisis of living in Jacksonville

[@bluecollarbiker8005]

Look at your average person they cannot afford to pay rent Because the rent prices has skyrocketed You have to make $5000 to $6000 a month to make it right now I am the only one working in my family I make 4 grand a month And I'm struggling

[@Sirach144]

Right. My went from $1300 to $1900

[@bluecollarbiker8005]

@Wishbone83 yea brother its ridiculous.

[@malanalan1]

@@Sirach144 Oh well, a year ago, the median mortgage payment was $1300.00. Could've, Should've

[@davidpugh8772]

I'm on a fixed income and only make $19xx atm I can't afford anything and am fortunate enough to have been able to get a camper and rent for $500 a month it's as close as I'm going to get to a house anytime soon

[@kondrasellers2740]

I’m from Jacksonville but I moved to NC 7 years ago and our rent haven’t gotten that bad mine came from 1550 to 1700 and I make 5,000 amount so I’m good plus my husband works also

[@user-fg2mm7id6n]

One thing about life you can get it however you get it I want them bills paid stop crying America

[@user-fg2mm7id6n]

@@wbay3848 Rob and get killed