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Has Oklahoma Tornado Dropped Real Estate Prices There?
invite response
2013 May 22, 3:43am 851 views 8 comments
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zzyzzx
2013 May 22, 5:56am
Doesn't a natural disaster raise demand for existing, undamaged housing stock? Or are you referring to sales for newly damaged houses?
RealEstateIsBetterThanStocks
2013 May 22, 6:02am
Doesn't a natural disaster raise demand for existing, undamaged housing stock? Or are you referring to sales for newly damaged houses?
i think rents will spike because survivors need a place to stay but nobody will buy anything for a while damaged or not. this is a perma-bears wildest dream.
JodyChunder
2013 May 22, 6:28am
It was never mispriced like the sand states.
I've always liked Oklahoma City. Quiet streets, zero traffic, good friendly people.
Robber Baron Elite Scum
2013 May 22, 6:34am
Doesn't a natural disaster raise demand for existing, undamaged housing stock? Or are you referring to sales for newly damaged houses?
I'm sorry. I should have specified. I meant mainly for purchasing land dirt cheap for construction. Waiting a few years and selling it to pocket a profit.
People may migrate away from a area with a natural disaster because of fear that it may happen again even though again maybe 100 years later. Thus the prices collapses of land and real estate.
Once the fear goes away within 20-30 years and price jump up back again, you sell for a huge profit. In the meanwhile, you rent out your apartments and become a landlord.
Or
What you can do is start a construction company in Oklahoma to quickly gain the profit fast.
I think both options are good to do at the sametime.
i think rents will spike because survivors need a place to stay but nobody will buy anything for a while damaged or not. this is a perma-bears wildest dream.
+1
That's what I also believe.
Robber Baron Elite Scum
2013 May 22, 6:38am
It was never mispriced like the sand states.
That's true.
But I mean taking the price from very fair for buyers to a highway robbery price for buyers.
Meaning instead of the buyers paying fair value (which they did in the past)... Now that natural disaster has hit, they are paying so little for it that the sellers might as well hand it over for free to anyone who agrees to pay the property taxes on the land to free them from any tax obligations since people living their are in fear and no longer what to live there again because they believe it may happen again.
New Renter
2013 May 22, 6:46am
It might increase prices in the short term as survivors look for shelter.
JodyChunder
2013 May 23, 8:06am
the sellers might as well hand it over for free to anyone who agrees to pay the property taxes on the land to free them from any tax obligations since people living their are in fear and no longer what to live there again because they believe it may happen again.
If it did go that way, I'd suggest buying a little ranch out that way and build you a tornado-proof cement dome house.
New Renter
2013 May 23, 1:25pm
the sellers might as well hand it over for free to anyone who agrees to pay the property taxes on the land to free them from any tax obligations since people living their are in fear and no longer what to live there again because they believe it may happen again.
If it did go that way, I'd suggest buying a little ranch out that way and build you a tornado-proof cement dome house.
Or an old ICBM silo. THAT would be AWESOME!!!
Looks like now is a good time to buy real estate in Oklahoma.
Realtors, mortgage brokers and bankers love natural disasters and profting from the aftermath misery of the cockroaches who were negatively impacted.
Since Realtors and mortgage/real estate brokers are unable to sell homes in Oklahoma, they are now outright looting, mugging and robbing on gunpoint in that state.
I personally can't wait the day when Southern California get's extreme amounts of deaths from a very intense serious natural disaster. A combination of a 25 point earthquake, Tsnuami and a 1000MPH tornado should do the job.
How severely can natural disasters affect real estate?
#housing