in FL, not anymore. In 2002-2003, they put in water and power infrastructure, along with highways, in a lot of rural areas. They build houses as fast as they could, which sold fast at high prices. Then, the second wave of houses came - and that's when the bubble burst.
Originally existing homes, the 02/03 batches, and the new ones all had instantly lowered prices. The population is growing, but certainly not as fast as the housing industry. Everyone and their mother bought a new house with Wave 1 - now they're 60 k to 100,000 upside down and won't even begin chipping off the worth from the mortgage for ten years.
IMO, it's like koolaid.
yes, koolaid. The more water you add, the less that koolaid is worth. One packet in on pitcher = small number of homes in Lee Country. One packet split between three pitchers, and suddenly the koolaid is weak, there's too much of it, and it ain't selling.