You must log in or register to comment.

TheSecretAgenda t1_j61j96c wrote

There are no houses for sale!

People are leaving the state!

Too many people, too few people. I'm confused.


thesbaine t1_j61h4jv wrote

Could have fooled me. Houses in desirable areas are still flying off the shelf.


Fdizzle_ t1_j61mlq7 wrote

Haven’t been seeing that. Most places have been sitting on Zillow. Probably will be that way until prices come down with interest rates at 7%


Questionguy789 t1_j61xg52 wrote

Zillow isn’t really a great barometer imo


thesbaine t1_j63r2gp wrote

Late to reply, but I just had a few beers with our realtor a couple of days ago (ran into him) and asked him how things were. His office is generally getting 10-12 calls per day with "you got anything coming up"? He's got probably 1 every two weeks that effectively doesn't hit the market and sold above asking price.

Again, it's anecdotal and maybe it's happening less now, but we were routinely getting shown houses before they were listed when we worked with him.


Sufficient_Mirror_12 t1_j624l4g wrote

Clickbait. Here's also what's in the article.


"Lots of caveats here in the migration numbers: In a typical year, Connecticut will see 80,000 to 110,000 people moving to and from other states. Since the data are based on polling samples, a net departure of, say,15,000 residents can have margins of error so large that conceivably it wasn’t a net loss at all, in reality."


PorgCT t1_j621aki wrote

My educated guess is retirees are leaving for somewhere where pension income isn’t taxed, and a remote workforce from NY is moving in.


SKIPPY_IS_REAL t1_j63u76m wrote

Most people I know trying to leave are in their 30's and 40's and realize that even a 15% pay cut means more buying power most other places. I am a turbine generator tester, we have lost about 30% of our workforce for this reason. I am also looking to leave the state sometime this year, but I'm not taking a pay cut, found a bigger house and my budgeted cost of living between food, electricity, insurance and taxes will be about 40% less in Charleston.


Kolzig33189 t1_j618cql wrote

Housing prices will come down once all the people who were waiting for a dip in prices and demand stop immediately buying houses over list price the same day they go on market…which ironically they were complaining about others doing for 3 years or so.

And it’s also winter - available homes are at their lowest point every year around this time.


timmahfast t1_j61ijk9 wrote

It's a supply problem. Not a too high of demand for housing problem. People aren't moving because of high cost of housing and high interest rates. And they especially won't move if prices plummet and they're upside down on their loan by tens of thousands of dollars. Because of this there's few homes for sale. And it will continue to be this way until more housing is available.


IndicationOver t1_j61dc9o wrote

>Housing prices will come down

Yea 5%


Kolzig33189 t1_j61edxe wrote

No, I think over the course of this year there will be a pretty significant lowering of prices. Maybe 10-15%. Certainly not in high demand places like the “ct panhandle” where rich New Yorkers flock to, but the seemingly never ending rising interest will begin to have an effect. It actually already has as evaluations are starting to go down in the high single digits in large areas of the state, but like my other comment said, there were a lot of people waiting on a dip and they are now pouncing so competition is still fairly high. But theres a lot less people who can afford a 350k house in the suburbs with 6% interest than a 2.5% interest and that will decrease competition among buyers this year.

Also, it’s winter right now so inventory is low. Historically, late fall and winter are the worst time to sell houses (often because middle of school year is bad time to uproot kids) and most people wait until late spring and summer to list.

Plus, if the doomers happen to be right and there is a recession this calendar year, housing prices will likely tank.


Fdizzle_ t1_j61noe2 wrote

Housing already prices seem down 10-20% from the high. Tanking may not happen as it did in 2008 recession as housing values is what fueled that recession. Most people aren’t underwater on their mortgages and won’t be able to find anything with the prices at 7% interest when they were getting them for 3. As you were saying payments are higher with higher by about 80%. So buying another house becomes less attractive cause home owners can’t get the house they have for the same payment. So volume may stay low. Price I think will slowly ease.


johnsonutah t1_j63qmxx wrote

With a 10-15% drop, wouldn’t home prices still be well above pre pandemic levels?


yudkib t1_j63u87j wrote

There are a lot of articles saying on aggregate income level / job availability / housing prices that Hartford and New Haven are two of the best cities in the entire country for affordability. Predicting another 5-10% increase for 2023. In my opinion, it’s very unlikely housing prices will see a significant retreat up here until build costs go down and interest rates lower. Right now retirees aren’t moving south because they can’t get a bigger house for less money or a lower monthly with a higher fixed income. One or two of those might be true right now, but in 2019 it was all 4. Until people start leaving, limited inventory and historically “high” prices are here to stay.


IndicationOver t1_j65s5bf wrote

I don't agree with a lot of what you wrote but no point in debating your feelings either.


activehobbies t1_j61sqhk wrote

Are they just ignoring the thousands we've gained, then? Especially after Roe v Wade revoke?


WoodwindsRock t1_j64pi2a wrote

I’m pretty sure that is going to be ignored. My family and I are planning on moving to CT from a red state because of this and other issues that the right wing is messing up (LGBT rights, education, etc).

I do wonder the statistics of people who are leaving red states for blue states. It has to be increasing. At least from personal experience I’m seeing it happen a lot and know people who are fed up and moving. That’s just personal experience, though.

I’m also a climate refugee. The narrative is that people leave Northern states for Southern states, but I think that’s far from the whole picture. Now, I, personally, am an oddball who likes the cold, but it isn’t purely that which is driving me away from the South. It’s also the crazy weather. The tornadoes, the drought, warm weather dominating winter, etc.

I’m utterly baffled by people moving to Florida. I think some of them are going to regret it, as it is increasingly prone to major natural disasters.


Impossible_Watch7154 t1_j67v7gk wrote

As climate change worsens and the GOP becomes more wacko- Connecticut will see modest population growth for some time. The pace of people like yourself moving here will quicken as climate change becomes worse this decade. Lots of people who post here are clueless. You 'get the picture' climate havens like CT will be the present and future. Many folks are living in the past with CT.

What concerning is the amount of housing stock here (its low) and the state government lack of understanding and planning for the influx of climate refugees. Although the state of CT ranks as the 5th best state in its preparation for climate change- the state here does not understand the backlash climate change will bring- as people leave southern and southwestern states. My education in geography and geology made me informed- not clueless!


phutch54 t1_j61rx2p wrote

Bye! Write when you get work!


sloww06gto t1_j661fpz wrote

This is hilarious, i just got into an argument the other day in a post with a bunch of loons that were saying Connecticut is one of the most desirable places to live. They kept mentioning how 66k people moved here in 2021, i had to explain that those were New Yorkers leaving during the pandemic and that before the pandemic Connecticut had one of the fastest declining populations. In 2022 we gained 2k and change people. I had 50 plus down votes and eventually my post was deleted from the thread. 🤣😂🤣


Humbabwe t1_j624pl7 wrote

Lost losers to other states. Probably gained some chill people for the most part.


ImCloserToThePin t1_j65i87j wrote

Really cuz I still can’t find an affordable home?


Fdizzle_ t1_j61nyn5 wrote

Just wondering are people actually leaving or just becoming residents of other states and keeping their homes here. Saving money on Ct income tax that may help pay for their second home.


Extreme_Disaster2275 t1_j61opr4 wrote

So when will rents be sane again?


Form684 t1_j627edl wrote

The issue with the CT rental market is that it’s gonna cost you at $300 a square foot to build which puts you in the 2000-3000 dollar range. Lands expensive and towns don’t let you build.


Delicious_Score_551 t1_j62n7sz wrote

^ This is the truth. Land is very expensive in the most desirable towns. Vacant 1 acre lots in my town are like $200-300k. Add an average size home (~2k-2.4k sf) built to current building codes, and it's immediately a $500-600k home.


Extreme_Disaster2275 t1_j63i87f wrote

Why do we need to build more units if the population is supposedly dropping?


Whaddaulookinat t1_j65bslx wrote

>Why do we need to build more units if the population is supposedly dropping?

It's dropping in the places that are already having population decline, increasing where the majority of residents already are.


Extreme_Disaster2275 t1_j65mwpv wrote

It's not that big a state. Commuting is a thing. But if your take is accurate, rents should be dropping in places where population is declining. It isn't. It's rising everywhere.


Form684 t1_j63l2id wrote

The number of people per house/unit is going down so more people are living by themselves.


Extreme_Disaster2275 t1_j63mgmg wrote

That doesn't jibe with rents doubling. Where are these singles getting the money to pay $2k for one bedroom? Especially if companies are leaving the state and cutting jobs.


Form684 t1_j63nosr wrote

It does jive with rents going up, less supply more demand, also the effects of the pandemic are still lingering on the rental market. Clearly people are paying it, wether they are over extended is another story.


AhbabaOooMaoMao t1_j61zeis wrote

People who got tricked by WalletHub and Facebook memes are fleeing to greener pastures.


Impossible_Watch7154 t1_j67vbln wrote

Wallet hub is not the smart place to get information- most of the time they are dead wrong.


AhbabaOooMaoMao t1_j68a7ey wrote

I know pal, that's the joke.

Imagine being one of them who's so gullible they pick up all their shit and move to Florida because they read a WalletHub article.


Impossible_Watch7154 t1_j68agod wrote

Florida is likely the worst place to move to now considering climate change-

high home prices, homeowners insurance through the roof.

Same for Texas, Arizona, Louisiana,and many others.


rainbowarmpit t1_j66k797 wrote

Buuuuttt gained a bunch of New Yorkers


Impossible_Watch7154 t1_j67ufsz wrote

Actually housing prices are projected to rise in greater Hartford this year about 8%. Many people interested in Connecticut. Not only from NY- but from the Washington DC area- and states suffering from heat, drought and extreme weather.

When moving these days- one must do their homework about climate change- the biggest issue this country and world has ever faced. Those moving south to areas that will become brutally hot do so at their own risk. In the end they will pay more than staying in CT. Too many uniformed people moving to harms way in states that will face the worst affects from climate change.

Northern states like Connecticut will see an influx of people from areas like Texas, Florida and AX and other southern states because of climate change. CT though also becoming warmer has a temperate climate with less heat in the summer. Winters are becoming much milder.

Florida is in a housing bubble with prices that exceed most of CT-

The cost of home owners insurance in Florida is through the roof. Add climate change to this toxic cocktail- the smart people are getting out.


Impossible_Watch7154 t1_j67whhy wrote

This post is meaningless- and shows how uniformed many people are.

As Climate Fears Mount, Some in U.S. Are Deciding to Relocate.

As wildfires worsen and sea levels rise, a small but growing number of
Americans are choosing to move to places such as New England or the
Appalachian Mountains that are seen as safe havens from climate change.
Researchers say this phenomenon will intensify in the coming decades.

For many being shattered by climate change- Connecticut is like Eden. Temperate beautiful forests and weather. And housing prices BELOW the national average.

Connecticut's population will continue to grow as people get out of harms way of an increasingly erratic and dangerous climate. This increase will pick up by decades end.

The state will have to allocate more time and effort in dealing with this increase in population.