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From Daily Mail: Vacation homes are being dumped at a rapid rate as fresh fears of a housing market crash — and a shrinking pool of renters — rattle sellers.
The number of people buying second homes has plunged to its lowest level since records began, and is under a third of what it was during the pandemic boom.
A toxic mix of sky-high mortgage rates, soaring maintenance costs, and a widespread return-to-office push is fueling the trend.
Daily Mail reports a 5 percent drop in mortgages issued for second homes in the United States between 2023 and 2024. The shift is even larger when compared to the number of second home purchases in 2021. That year, there were 258,289 such purchases. In 2024, there were only 86,604.
“Most people aren’t buying vacation homes at all because mortgage rates and insurance costs — especially for waterfront properties — have skyrocketed,” said Lindsay Garcia, a Redfin Premier agent based in Fort Lauderdale, Florida.
According to the Mail, second-home owners in Florida are “racing to offload their properties, spooked by fears of a house price crash and their financial future.”
Home listings have increased significantly, going from around 1,000 in February to over 3,000 in March, with the majority being vacation homes, the report states.
It’s the Airbnb bubble bursting. Many people foolishly bought vacation homes they couldn’t afford in the hopes rentals would pay for their mortgage. It was never the case.
We rent out our guest house (already paid for) on Airbnb. We’ve seen a substantial drop off in renters…
— Ned Buntline (@BuntlineNed) May 11, 2025
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