patrick.net

Glock-n-Load says

AD says

As far as this unit

https://www.zillow.com/homedetails/1700-Annabellas-Dr-Panama-City-Beach-FL-32407/87629985_zpid/

Sold on 1/13/2026 for $232,000

Sold in 9/2023 for $280,000

Sold in 10/2021 for $235,000

Sold in 8/2011 for $139,000

The Panama City Beach townhome's sales price appreciated around 3.75% from 2011 o 2026.

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What’s the HOA fee?

I researched this and it was $420 last year. Now it is $383.

Property insurance is going down in Florida so that may be one reason, as we are paying about 25% less on property insurance in Panama City Beach compared to last year.
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TheAntiPanicanLearingCenter says

https://x.com/i/grok/share/o2geGuohNffX1WocQ6XZOGF82

Good to see rents drop, keeps out the speculators and pushes those who want to leave the state to sell and not rent out.

We pay about annual premium $1650 for HO-3 property insurance on our Panama City Beach townhome (3 bedroom, 2 bath, 2 car garage) and replacement value of $275,000. We are about a 2 mile walk (via sidewalk) to the white sand beaches and beach park.

Also there is a master insurance for the HOA for our building which is about $1400 a year. So overall $2850 per year for insurance ;

HOA master insurance and our own property insurance total to about 1.1% of our replacement value.

AD says

TheAntiPanicanLearingCenter says

https://x.com/i/grok/share/o2geGuohNffX1WocQ6XZOGF82

Good to see rents drop, keeps out the speculators and pushes those who want to leave the state to sell and not rent out.

We pay about annual premium $1650 for HO-3 property insurance on our Panama City Beach townhome (3 bedroom, 2 bath, 2 car garage) and replacement value of $275,000. We are about a 2 mile walk (via sidewalk) to the white sand beaches and beach park.

Also there is a master insurance for the HOA for our building which is about $1400 a year. So overall $2850 per year for insurance ;

HOA master insurance and our own property insurance total to about 1.1% of our replacement value.

So, how far away do you live from the listing you posted?

They can't continue to fuck over the young for the benefit of banks and boomers forever.

If that trend continues, the median age of a house buyer will be greater than the median age at death. Then all those buyers will die and the market will be flooded with their houses.

When all those houses go on the market, prices will plummet, people will walk away from their underwater mortgages, and banks will have to take epic losses.

Or not, because the Fed will once again print more cash to buy up the mortgages from the banks, socializing the loss once again via inflation, screwing everyone. I bet that's how it plays out.

What should happen in a just world is that the banks die because of their own stupidity in lending. Your savings in the bank above the FDIC limit ($200K?) will evaporate.

But then prices will be low enough that once again young couples (if they have any income) will easily be able to buy a house and start a family.

The last time banks were held accountable was after the S&L crisis in the 1980's. Since then it's been almost 3 generations of corruption and grift.

There were epic deals to be had in the early 1990's, especially in the oil belt.

A shit ton of truth in all of that @patrick for sure. If...

"When all those houses go on the market, prices will plummet, people will walk away from their underwater mortgages, and banks will have to take epic losses.

...were to happen, banks would simply become the nation's landlords, I assume. No more need for lending (for mortgages anyway). Simply set rents as high as f'ing possible and keep everyone rent poor.

The banks are limited in what they can charge in rent, both by renter incomes, and by the many rental alternatives.

Patrick says

When all those houses go on the market, prices will plummet,

...but the Housing Experts of PatNet believe otherwise!