Explosion of the rental/lease (ABB/VRBO) has to be a major contributor to the increase in home prices. We seen it up north with our place.....we easily could get 50% or more than we paid for it in 2019. COVID helped contribute to this. Last few years rentals were a bit slower but have picked back up this year. I figure people went back to the "hotel or resort" vacations and realized they like the rental option better and that's why it picked back up.
Vacation area's are struggling to find workers because they struggle to find affordable housing. I'm not sure what the answer is to be honest.
I have many friends who have places in Florida. They don't lease out. Nice places on golf courses and close to amenities but I just don't see the attractiveness. If I'm in Florida I want to be on the ocean. The cost of a place even off water even safely invested will return enough return to pay for the amount of time I want to spend there in kick ass oceanfront places. I'm just not willing yet to give up much time during the sledding or fall hunting seasons. I have money tied up in boats that I won't travel much in the summer either.
I will say its insane the money we bring in up north renting just Memorial weekend to Dec 1. More than pays for everything. Only way I'd do something in Florida is leasing it out.
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Highmark ·
Birdie Boy Newest Member ·