[LuisSuarez]

After the 2004 hurricanes there was an exodus of people leaving the state which exacerbated the property crash. I think Irma will be the straw that causes another exodus and destroys an already fragile market.

[mateo384]

Good, I'm ready to buy.

[hotkarl]

Me too.

[bmw335xi]

I was interested in buying property in Miami if that happened but this hurricane wasnt big enough to cause a large dip imo.

[LKJ1988]

Won't do a thing to stop peeps from buying.

[chopchop0]

Only fema dropping its flood insurance might. Banks would stop writing loans in high risk areas, so only cash buyers would be left

[aridon]

Originally Posted by LuisSuarez

After the 2004 hurricanes there was an exodus of people leaving the state which exacerbated the property crash. I think Irma will be the straw that causes another exodus and destroys an already fragile market.

What exodus? There was none. Also no, the hurricane won't do anything to values.

The hurricanes had nothing what so ever to do with the property bust that occurred throughout the entire United States. There was also no exodus in Florida. Some people lost their ass because they had multiple properties and some did leave but many many more came and have continued to come. Florida's problem will be when the old folks start dying off and the younger generation having no interest in Florida. Still some time away but closer than many realize as the later parts of boomers won't be able to come here as easily since many of them are in poor financial condition.

Then again, Florida has always been about boom and bust real estate and that won't change and we are approaching another peak.

[runswithscissors]

The only exodus was because of the real estate Financial crash. Overextended, upside down, and investors walked away.

(All of the condos in my community were rebuilt as needed after 2004 Jeanne and Frances by the HOA and their owners. Our problem was the roofs were not Miami-Dade standard at that time. So okay people were unable to live in them for a while if you want to call that an Exodus. But they either came back or sold them.)

So when Florida properties were able to be sold at 40 to 60% of their peak prices, after 2009 or so, they were immediately bought up. Especially by investor snowbirds who knew they could get a large seasonal rental income and still use the place for a month or so every year.

I haven't been home to see my condo yet but if we have no damage, then my guess is people would be more apt to purchase it knowing it withstood this hurricane.

The only remaining variable would be what extent of flooding we have.

[WinterK]

Most condos and townhomes require you to live in them from one to two years before renting. And I believe laws were passed limiting renting for short periods, especially in the beach communities of Pinellas.

[expatCA]

Originally Posted by LuisSuarez

After the 2004 hurricanes there was an exodus of people leaving the state which exacerbated the property crash. I think Irma will be the straw that causes another exodus and destroys an already fragile market.

Probably not. FL is the 3rd most populous State for a reason. Where would they go? Back where they left to live in FL and did not want to live there anymore? Maybe they prefer tornadoes to hurricanes except you do not get as much warning, maybe earthquakes to hurricanes, but no warning at all.