Is this a good time to consider buying a house in Florida?

In My Humble Opinion
1

–as opposed to renting, I mean. Lately I’ve detected a lot of background noise about how the real estate market is in a state of crisis, but I haven’t really been paying much attention. I’ve never seriously considered the possibility of attempting to buy a house, as I am already transcendentally impoverished and will surely remain so unto death and beyond.

But then I said to myself, “Hold on a second! Maybe a real estate crisis means that it’s a good time for transcendentally poor people to buy houses! You don’t know for certain, because you haven’t been paying attention! Maybe this is the best chance you’ll have!”

It’s been on my mind a lot recently. I strongly suspect that my current residence may be somewhat less flood-resistant than is ideal for a person with a large library, so I am starting to explore other options, however unlikely. Can anyone perhaps provide a capsule summary of the current Florida real estate situation?

2

The lending institutions are a little nervous at handing out money right now. They are hurting in a number of geographies. Interest rates are a tad high (IMHO). There also may just be a little “air” yet to be let out of the market.

Whether you purchase a property is, of course, up to you. If you are planning on sticking around there for awhile, you can refinance in a few years. These are, after all, lending institutions and they will loosen up eventually, but rates are a bit high right now.