September 18, 2025, 16:56
MAXIMUS PANDAMONIUSHousing panic grips Sunbelt states as property prices plummet
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01:06 EDT 18 Sep 2025, updated 09:31 EDT 18 Sep 2025
By MARTHA WILLIAMS, US NEWS REPORTER
READ MORE: Warning one third of the US economy is already in recession
Property prices in many states sprawling across the Sunbelt have plummeted, sparking fears of a real estate market crash.
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Seven states saw their housing markets lose value over the past year, according to data from Zillow.
The biggest losses came in the Sunbelt, the warm southern region of the US stretching from California to the Carolinas.
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Florida saw the most significant drop - with a loss of $109 billion in total market value from July 2024 to June 2025, closely followed by California - which suffered a $106 billion decline.
Texas also weathered a blow to its housing market, with a $32 billion loss.
Arizona and Georgia were among the states in the region to take a hit, though each only lost $1 billion in total market value.
Outside of the Sunbelt, Hawaii's housing market lost $1 billion and the District of Columbia saw a $2 billion decline.
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The massive downturn in these housing markets can be attributed to multiple factors.
Florida saw the most significant drop - with a loss of $109 billion in total market value from July 2024 to June 2025 (pictured: Homes in Tampa, FL)
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Florida saw the most significant drop - with a loss of $109 billion in total market value from July 2024 to June 2025 (pictured: Homes in Tampa, FL)
Seven states saw their housing markets lose value over the past year (pictured: Long Beach, California - one of the seven states)
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Seven states saw their housing markets lose value over the past year (pictured: Long Beach, California - one of the seven states)
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For one, natural disasters in many of the Sunbelt states means that insurance rates are sky-high.
Homeowners in Florida pay the highest average annual premium of all the states ($2,437), and Texas is not far behind ($2,146), according to data from Insurance Information Institute.
A growing condo crisis in Florida, in particular, has also led many Americans to desperately try to offload their homes.
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Sunbelt states are also losing their affordability edge, as areas like Miami, Tampa and San Diego become too expensive to lure house hunters from across the country.
A surge in Sunbelt real estate has meant that Americans moving to Florida or Texas are no longer saving as much annually than they were during the pandemic.
Wealthy New Yorkers who moved to Miami in 2023 saved an average of $88,036 - 28 percent less than the $122,956 they typically saved in 2019.
Those who moved from New York City to Austin in 2019 would have typically saved $154,564, SmartAsset found, last year they saved $116,195 - some $38,000 less.
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While states in the South and Mountain West became boomtowns during the pandemic and saw home values soar, states in the Northeast and Midwest are now taking over.
Arizona and Georgia were amongst the states in the region to take a hit, though each only lost $1 billion in total market value (pictured: Gilbert, AZ)
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Arizona and Georgia were amongst the states in the region to take a hit, though each only lost $1 billion in total market value (pictured: Gilbert, AZ)
Natural disasters in many of the Sunbelt states means that insurances rates are sky-high (pictured: a home in Florida that was destroyed by Hurricane Helene)
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Natural disasters in many of the Sunbelt states means that insurances rates are sky-high (pictured: a home in Florida that was destroyed by Hurricane Helene)
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Sunbelt states swept by worrying property trend taking over major cities
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New York, a Northeast state on the flip side of the housing panic seen in the Sunbelt, gained $216 billion in market value over the past year.
This is by far the biggest increase of any state, and one quarter of the overall national growth in the past year, which was $862 billion.
Other states that saw significant increases were: New Jersey ($101 billion), Pennsylvania ($73 billion), Illinois ($89 billion), Ohio ($49 billion), Michigan ($48 billion), Virginia ($46 billion) and Massachusetts ($46 billion).
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Despite the big hits being taken by Sunbelt states, the overall US housing market is worth a record $55.1 trillion - up $20 trillion since 2020.
'Even as buyers struggled with rising costs, US housing wealth kept climbing,' said Orphe Divounguy, senior economist at Zillow.
'New construction opened the door for many first-time homeowners, creating trillions in wealth that didn't exist five years ago,' he said.
'Home value gains are a windfall for longtime homeowners, but they also highlight how housing deficits that sent prices soaring left behind many aspiring first-time buyers.
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'The bottom line is that we need more homes to solve our chronic affordability crisis.'
New York gained $216 billion in market value over the past year (pictured: homes in Manhattan's Upper East Side)
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New York gained $216 billion in market value over the past year (pictured: homes in Manhattan's Upper East Side)
'Even as buyers struggled with rising costs, US housing wealth kept climbing,' said Orphe Divounguy, senior economist at Zillow
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'Even as buyers struggled with rising costs, US housing wealth kept climbing,' said Orphe Divounguy, senior economist at Zillow
This time last year, it became clear that it was a great time to be a renter - particularly in Sunbelt states.
Austin, Texas, and Jacksonville, Florida, saw average rents fall the most in the country last summer, according to new data from Redfin.
Developers paid attention to this trend, and over 500,000 of new apartments being built this year will be in Sunbelt states - and Thriving Texas metros, such as Dallas, Austin, San Antonio and Houston, are leading the apartment-building boom in the region
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Experts say the boom highlights a growing shortage of affordable homes, which is pushing residents toward rentals - a demand developers are eager to meet.
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September 27, 2025, 00:32
MAXIMUS PANDAMONIUSZerohedge
UMich report they fixed it: according to the latest UMich propaganda, 1 Year inflation expectations are now 4.7%, down from 4.8% reported in the prelim report, and reversing some of the ridiculous August spike (how the average is 4.7% when Independents are 4.7%, Democrats are 5.4% and Republicans are 1.2% remains a mystery)...
... even as 5-10 Year inflation expectations rose again, only here too the change was moderated, and instead of 3.9% as was reported in the prelim report, the number has dropped to 3.7%
But while UMich may have fixed their 1 year inflation expectations report, the flaming dumpster fire was on full display in the 5-10Year inflation expectation chart, where even though Republicans and Independents inflation expectations dropped, and Democrats were unchanged, the overall median number ridiculously increase from 3.5% to 3.7%.
Anything to satisfy the UMich marixst Trump Derantement Syndrome, even if it makes zero math sense.
The rest of the report was the usual garbage propaganda one would expect when a bunch of marxists talk to a bunch of ultra-right win liberals: in the final revision, US consumer sentiment tumbled for the second month in a row, down from 58.2 to 55.1 - a four month low - and below the median estimates of 55.4 (as a reminder, the original prelim estimate was 58.0) with both Current Conditions (60.4, prelim 61.0, August 61.7) and Expectations (51.7, prelim 51.8, Last 55.9) declining and missing estimates (61.3 and 52.0, respectively).
“Consumers continue to express frustration over the persistence of high prices, with 44% spontaneously mentioning that high prices are eroding their personal finances, the highest reading in a year,’’ Joanne Hsu, director of the survey, said in a statement.
“Interviews this month highlight the fact that consumers feel pressure both from the prospect of higher inflation as well as the risk of weaker labor markets,” Hsu said, recounting perhaps her latest soiree with her fellow marxist liberals cat ladies.
Hilariously, even UMich had to factor for the fact that stocks have never been higher, and said that while sentiment declined among most income groups, it held steady for those with larger holdings of stocks.
In other words, UMich continues to primarily speak to Democrats who remain massively short ever since Liberation day and are getting margin called every single day.
“These differing trends by wealth help provide some insight about the relative resilience in aggregate spending seen in recent months,” Hsu said. That or maybe stop publishing ridiculous propaganda and actually provide an objective, unbiased take of what the broader population - not a bunch of masked Karens - really thinks.