We go to Disney every year for the last 8 and my family has been looking at purchasing a second home. With the Coronavirus pandemic causing financial distress, will the market value of homes decrease? Or is now the best time to buy a vacation home in Central Florida?
I would say with the current climate prices will decrease by 10-20%. with further year stabilise. I would assume a few out there will be looking to regain tied up capital and most would be repaying with little returns
Here in the UK we are already starting to see people downgrade homes due to people loosing jobs
Quite a scary and uncertainty period to get through
Have to wait and see but with this ban on vacation rentals, owners clearly losing the income over the busiest period of the year will hurt some. Due to this i see quite a bit of panic selling but the extent we'll not know for a few weeks or months even.