Crashing the Market: Did Cape Coral’s City Hall Light the Fuse?

Cape Coral’s Crashing Market: Correction—or Collapse?

Some Cape Coral City Council members say what’s happening in the housing market is nothing more than a "market correction." But The Wall Street Journal disagrees—calling Cape Coral the worst-performing housing market in the country, with home prices falling 11% over the past two years, the steepest decline in the U.S.

Residents aren’t just concerned, they’re listing their homes in record numbers. Inventory has exploded, buyer demand has shriveled, and the result is a glut of properties sitting on the market. Many of these sellers are investors or families who bought at peak prices during the pandemic boom, and now find themselves underwater on their mortgages. With insurance premiums HIGH and property taxes rising, the cost of holding onto real estate in Cape Coral is starting to outweigh the reward.

So, who’s to blame? Some point fingers at the mayor and select council members for failing to address rampant developer fraud, abandoned builds, and permit backlogs. Others argue that local government is simply overwhelmed, and the root causes—rising interest rates, higher insurance costs, investor retreat, and lingering hurricane damage—are far beyond the city’s control.

Still, the perception that leadership is doing little to protect homeowners or stabilize the market is growing. If trust in local governance continues to erode, Cape Coral could face not just a housing crash, but a confidence crisis.

This is more than a correction. It’s a reckoning. And it’s forcing Cape Coral’s homeowners to ask: Are we being protected or abandoned?

Florida’s Cape Coral Is Now the Worst Housing Market in America - WSJ.pdf

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All information has been thoroughly investigated and reported by the Take Out the Trash Committee of Cape Coral and/or its authorized volunteers!