From my analysis, people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Oh man those poor waterfront property owners! I feel so badly for them! Its this kind of relatable story that really hits home with most Americans. If all waterfront was left as public access it wouldn't have become a problem.
If it was all left as public access, then it would be even worse, since the govt does not care about the people or anything. Plus we all would have to pay more taxes.
Quit building in these geologically and climatic challenging areas, coastal, canyons, forests, sensitive deserts, and leave these as open spaces for all to enjoy.
If our government wasn’t corrupt and millionaires and billionaires were paying their proper taxes 40-60% progressively as their holdings increase then I would feel sympathy for them as Americans. But as it stands now they’re more like feudal lords. Though in some cases like Warren Buffett they actually know it’s wrong and wish the government would actually tax them more. But the stench of superiority and entitlement currently in this country simply reeks.
Three years ago, I took a road trip with my family up the CA coastline and I remember the evening news was about the once-in-a-100 years rain storms affecting parts of Germany and China. This year, those type of storms are happening all over this planet. Coastline properties are done for.
Okay. Next up let’s leave all undeveloped land public as well. There is a lot of privately owned woods in my area I’d like to hunt. Why do only those owners get to use it?
I have a small cleaning company in FL and the airbnbs on the beach are desperately trying to sell right now, but nobody is buying! One has been on the market about 8 months now
Obviously the drop in property values is a tough pill to swallow, but I'd just like to take a moment to remind all the millionaires affected that a few simple changes, such as cutting out that morning latte and passing on a slice of avocado toast, can add up. Small changes to your lifestyle can save your pocket book! :)
As someone that has lived within 2 hrs of the Southern panhandle 67 years, most of us "lower lifes" have known this for decades and is why we chose not to live on or very near the coast, and never in FL. We have seen what erosion does, coastal homes tend to have short lives. We all knew one day the homes would not be insurable whether it is a vacation home or not and that day has finally come. Then there are the hurricanes that will eventually hit where you live and 2 hrs away is not really far enough, hurricanes tend not to stop at the shoreline and erosion eats shorelines, buildings tumble. Do we feel sorry for them, not a chance. This is a display of ignorance and arrogance at its finest.
Tons and tons of homes with beach access have pools and condominiums as well, but you’re gonna have to leave whatever little town you live in if you want to see the world.
My mother is a real estate investor. Never, even since before all this influx of data about sea levels rising, would she ever even entertain the thought of buying oceanfront property. It has ALWAYS been one of her biggest "No's" when considering property investments. She taught me well!
Beaches and coastlines are not static. They are constantly moving and changing as a result of weather patterns. Purchasing a multi-million dollar home perched on a sand dune is a foolish waste of money, as is trying to replenish sand on a beach that is quickly being swept away.
Am I supposed to feel bad for these people? I think it's fantastic it always bothered me in this country how some people have so much and give so little.
There should be common sense location related rules for real estate: don’t build or buy homes on the edge of a cliff, or situated on a beach, or straddling a geologic fault line, or in the path of potential volcanic eruptions. Don’t build or buy in flood zones or areas prone to fires or hurricanes or tornadoes. It’s bad enough that people lose lives and their homes to poor location choices. The currently increasing onslaught of disasters and damage create massive insurance claims that eventually could sink the insurance industry. Insurance companies should stop covering buildings in high risk zones. People who were more prudent in choosing their homes’ locations shouldn’t have to pay the rising premiums required to cover less careful owners.
I feel bad for the billions in the global south already feeling the effects of climate change from the extravagant lifestyle that these residents undoubtedly drive. These guys in the video aren’t worthy of help
Coastal areas are geologically dynamic and have been since the beginning of time. A big Nor’Easter comes through, and you lose 50 feet of beach. Next year, another Nor’Easter, and 70 feet of sand reappear. More people are building along the coast so more homeowners are impacted by natural geologic forces. Climate change is real, but coastal erosion and restoration through natural weather events have been going on for millennia.
Something is worth only that which someone is willing to pay. This has been known for thousands of years... "...be like a wise man who built his house on the rock. And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. ... a foolish man who built his house on the sand. And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it.”
How about concentrating on true victims? We've been talking about climate change long enough for these people to have made different choices but this is about their ego not about their livelihoods
There once was a man from Nantucket. I guess not for long, though. You know, somehow I just don't feel like shedding a tear for someone losing a multi-million dollar home for building them too close to the shoreline.
Some guy was featured on grand design, he built a house 15m from a cliff, look by the time he finished, it’s 10m from the cliff. He was hoping that it would last 20-30 years till he dies, well I bet it’s gone now
I get having a great view and access to beaches, but I put my money on nature any day of the week…and water… that is immensely powerful and destructive.
Sea level rise and erosion are not very related Sea level rise is about 2mm per year. If you are concerned you should make a small pile of rocks around your property.
No sympathy for rich folks coming from me. More pressing issues to be concerned about like America’s affordability crisis for the middle income person.
Born and raised on cape cod. I remember when I was in school 25 years ago my teachers saying with sea levels rising many homes here wouldn’t be around in 20 years. My town has lost a total of 0 homes to sea levels rising… guess the teachers were wrong and just trying to scare the kids about a water world
I would buy one of these properties for 100 dollars. Then I would have a risky holiday for two weeks. I’d sleep on a lifeboat inflatable dinghy just in case.
Have they tried planting used Christmas trees in the dunes like they are doing on the East Coast of Great Britain?? Or are real trees abolished bc of "The Safety"? No worry, out of style trees from yesteryears' home tv shopping will also do. Bottom line is, no public monies should bail out private property NIMBYs who beg for relief or beg for millions in sand replenishment but refuse to grant public access or right of way/easements to beaches. I had a laugh at a related story from Florida where they want the sun moon and stars to save them and then, in spite of all, there is the one "neighbor" who balks bc ultimately they would rather take the loss than have to allow public access in exchange for the public saving their house. So, let's not be swayed by the oddball "he lived here 45 years" bc he has probably been a huge NIMBY along the way while also refusing to stop dumping his septic straight into the ground. Many of these communities do not have proper sewer systems and are themselves huge contributors to coastal pollution issues. This wiping out of coastal properties might be a good thing bc towns will have to start over and everyone comply with modern current septic and wastewater standards.
That’s why I invest in gold and not beachfront properties- I buy only in established neighborhoods like upper east side upper west side…. Like classssst neighborhoods you can’t afford
![[ TEASER ] เงาะป่า - วงL.กฮ. | TMG RECORD](http://i.ytimg.com/vi/M4ObdFfcPww/mqdefault.jpg)
From my analysis, people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
Sharon Marissa Wolfe is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
No taxpayer money for them, …. They knew the risks !!
Oh FEMA will be bailing them out and then giving them $$$ to build again
These are literally their vacation homes. Give me a break lol.
Oh man those poor waterfront property owners! I feel so badly for them!
Its this kind of relatable story that really hits home with most Americans.
If all waterfront was left as public access it wouldn't have become a problem.
Relatable? Tell that to voters.
@@DaKrawnik no kidding bud. It’s called sarcasm
@DaKrawnik WHOOOOSHH (that's the sound of the joke flying right over your head)
This story hits home with how well willful ignorance and arrogance work together.
If it was all left as public access, then it would be even worse, since the govt does not care about the people or anything. Plus we all would have to pay more taxes.
Hard to feel bad for people with 10 million dollar homes
How would you feel if I told you you're subsidizing their insurance?
You mean $600,000, soon to be floating homes when adjusted for erosion risk.
Rich people problems. Glad I’m middle class.
Tax write offs…..
It’s still their home. A homeless guy could say the same about you in a similar situation. Have some empathy.
Wow! Alaska has Native villages having to uproot and move. Yet you folks are reporting on well off Americans house values going down.
This is why I built my home on the rim of an active volcano. No water erosion there.
Genius.
Luckily, these people can afford to lose it.
Quit building in these geologically and climatic challenging areas, coastal, canyons, forests, sensitive deserts, and leave these as open spaces for all to enjoy.
If our government wasn’t corrupt and millionaires and billionaires were paying their proper taxes 40-60% progressively as their holdings increase then I would feel sympathy for them as Americans. But as it stands now they’re more like feudal lords. Though in some cases like Warren Buffett they actually know it’s wrong and wish the government would actually tax them more. But the stench of superiority and entitlement currently in this country simply reeks.
Rich democrats run things.
Laughing at the rest of us.
Three years ago, I took a road trip with my family up the CA coastline and I remember the evening news was about the once-in-a-100 years rain storms affecting parts of Germany and China. This year, those type of storms are happening all over this planet. Coastline properties are done for.
Is this Greta Thunderbergstein?
"They're buying them knowing they're going to lose them." Ah, the wonders of the NFIP - they lose their home, YOU underwrite the insurance claim.
Nope, flood insurance doesn't cover land subsidence.
They should leave all waterfront as public access. Why do only rich people get ocean views?
Okay. Next up let’s leave all undeveloped land public as well. There is a lot of privately owned woods in my area I’d like to hunt. Why do only those owners get to use it?
What a stupid comment 😂 thanks for a good laugh
I have a small cleaning company in FL and the airbnbs on the beach are desperately trying to sell right now, but nobody is buying! One has been on the market about 8 months now
Obviously the drop in property values is a tough pill to swallow, but I'd just like to take a moment to remind all the millionaires affected that a few simple changes, such as cutting out that morning latte and passing on a slice of avocado toast, can add up. Small changes to your lifestyle can save your pocket book! :)
😂
As someone that has lived within 2 hrs of the Southern panhandle 67 years, most of us "lower lifes" have known this for decades and is why we chose not to live on or very near the coast, and never in FL. We have seen what erosion does, coastal homes tend to have short lives. We all knew one day the homes would not be insurable whether it is a vacation home or not and that day has finally come. Then there are the hurricanes that will eventually hit where you live and 2 hrs away is not really far enough, hurricanes tend not to stop at the shoreline and erosion eats shorelines, buildings tumble. Do we feel sorry for them, not a chance. This is a display of ignorance and arrogance at its finest.
Nobody believes it until it happens to you!
It's a myth lol.
@@stache1954 ...and then it happens to you XD
These are the same people who built swimming pools beside the beach? Just why? Wasting money on purpose?
Tons and tons of homes with beach access have pools and condominiums as well, but you’re gonna have to leave whatever little town you live in if you want to see the world.
NOT THE PRIVATELY OWNED COASTAL PROPERTIES! WON'T SOMEONE THINK OF THE RICH PEOPLE!???!
The information has always been available. Clearly the price and desire for the location outweighed common sense.
The sea will ALWAY win.
My mother is a real estate investor. Never, even since before all this influx of data about sea levels rising, would she ever even entertain the thought of buying oceanfront property. It has ALWAYS been one of her biggest "No's" when considering property investments. She taught me well!
I didn’t need a parent to teach me. I figured it out as a kid. This is stupid!
Wow how sad for these millionaries. Thanks for the groundbreaking report
Beaches and coastlines are not static. They are constantly moving and changing as a result of weather patterns. Purchasing a multi-million dollar home perched on a sand dune is a foolish waste of money, as is trying to replenish sand on a beach that is quickly being swept away.
Weather patterns are not the cause of the erosion....It is gravity.
"Will someone think of the property values?!?" - mainstream media
Oh, my heart breaks for all those poor millionaires... 😒
Make all beachfront areas public land.
In today’s world there is very little sympathy for people who have $$$$$ invested in luxury homes.
Good! I love to see the drop in home value.
The wise man built his house upon the rock…
A wise man bought a houseboat.
Who would buy a house that's at risk for being lost? Some people are really dumb.
This is true in many coastal areas around the world.
This is soooo sad 😢😢😢Imagine having inherited a property from your great grandparents and now you’re watching it waste away. 😢😢 This makes me so upset
Do they have mortgages? If so, how could one sell if they were deeply underwater on the loan unless the owner could come up with cash?
Am I supposed to feel bad for these people?
I think it's fantastic it always bothered me in this country how some people have so much and give so little.
Insurance on any beachfront home is a small fortune each year, much less those homes.
There should be common sense location related rules for real estate: don’t build or buy homes on the edge of a cliff, or situated on a beach, or straddling a geologic fault line, or in the path of potential volcanic eruptions. Don’t build or buy in flood zones or areas prone to fires or hurricanes or tornadoes. It’s bad enough that people lose lives and their homes to poor location choices. The currently increasing onslaught of disasters and damage create massive insurance claims that eventually could sink the insurance industry. Insurance companies should stop covering buildings in high risk zones. People who were more prudent in choosing their homes’ locations shouldn’t have to pay the rising premiums required to cover less careful owners.
I feel bad for people in the 9th ward not these folks
Why do I NOT feel sorry for these homeowners?
Because you’re jealous
The same thing is happening down South. Hunting Island in South Carolina is a prime example!
I feel bad for the billions in the global south already feeling the effects of climate change from the extravagant lifestyle that these residents undoubtedly drive. These guys in the video aren’t worthy of help
Coastal areas are geologically dynamic and have been since the beginning of time. A big Nor’Easter comes through, and you lose 50 feet of beach. Next year, another Nor’Easter, and 70 feet of sand reappear. More people are building along the coast so more homeowners are impacted by natural geologic forces. Climate change is real, but coastal erosion and restoration through natural weather events have been going on for millennia.
Something is worth only that which someone is willing to pay. This has been known for thousands of years...
"...be like a wise man who built his house on the rock. And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. ... a foolish man who built his house on the sand. And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it.”
Not that I care that much about the welfare of the rich, but it’s a shame what climate change is doing to our planet. I feel for future generations.
How about concentrating on true victims? We've been talking about climate change long enough for these people to have made different choices but this is about their ego not about their livelihoods
There once was a man from Nantucket.
I guess not for long, though.
You know, somehow I just don't feel like shedding a tear for someone losing a multi-million dollar home for building them too close to the shoreline.
This is normal for the coast line, when you’re living on the edge, what do you expect?
Didn’t show shots of the beach erosion on the east coast.
Except for the first shot of the California perched up high.
what i learned from the comment section. People are haters.
Some guy was featured on grand design, he built a house 15m from a cliff, look by the time he finished, it’s 10m from the cliff. He was hoping that it would last 20-30 years till he dies, well I bet it’s gone now
I get having a great view and access to beaches, but I put my money on nature any day of the week…and water… that is immensely powerful and destructive.
Is the town dredging? Or just sandbagging?
My Mum's house was lost in Florida in 1980 from a beach where the water was metres away.
How could climate change do this??!
Sea level rise and erosion are not very related
Sea level rise is about 2mm per year. If you are concerned you should make a small pile of rocks around your property.
Absolutely no sympathy here. I can’t even get a house, much less a coastal one.
Rich people problems
Buying opportunity. ❤️
People are just DUMB!!!
No sympathy for rich folks coming from me. More pressing issues to be concerned about like America’s affordability crisis for the middle income person.
This did not age well ...
This sounds like a millionaire private property problem.
This is for all the Homeowners and parents to figure out
You can’t fight Mother Nature
Boohoo, folks on the Gulf Coast have been having to leave for decades due to weather. Get used to it.
Born and raised on cape cod. I remember when I was in school 25 years ago my teachers saying with sea levels rising many homes here wouldn’t be around in 20 years. My town has lost a total of 0 homes to sea levels rising… guess the teachers were wrong and just trying to scare the kids about a water world
Tax expert? Writings it off.
This was obvious 10 yrs. ago.
Always wanted to live on Nantucket damn 😂😂😂
Enjoy it while it lasts. It’s just money.
Rich people problems
I would buy one of these properties for 100 dollars. Then I would have a risky holiday for two weeks. I’d sleep on a lifeboat inflatable dinghy just in case.
Rich people problems.
have they tried selling their homes to aquaman?
Have they tried planting used Christmas trees in the dunes like they are doing on the East Coast of Great Britain?? Or are real trees abolished bc of "The Safety"? No worry, out of style trees from yesteryears' home tv shopping will also do.
Bottom line is, no public monies should bail out private property NIMBYs who beg for relief or beg for millions in sand replenishment but refuse to grant public access or right of way/easements to beaches. I had a laugh at a related story from Florida where they want the sun moon and stars to save them and then, in spite of all, there is the one "neighbor" who balks bc ultimately they would rather take the loss than have to allow public access in exchange for the public saving their house. So, let's not be swayed by the oddball "he lived here 45 years" bc he has probably been a huge NIMBY along the way while also refusing to stop dumping his septic straight into the ground. Many of these communities do not have proper sewer systems and are themselves huge contributors to coastal pollution issues. This wiping out of coastal properties might be a good thing bc towns will have to start over and everyone comply with modern current septic and wastewater standards.
A house built on sand is worth…
That's all Trump's fault.
meet me in montauk
They worth 2 million pesos 😅
Pathetic. Only worth 10K at this point😂 greed
Oh well.
This is why I don't want to stop global warming. I'm not going to stop burning fossil fuels to save some rich guys beach house.
Margo Largo😂😂😂 washing away into the ocean taking trump with it… 😹🎃💨💨💨💨
Yay the rich reap what they sow
Oh noooooo, anyway…
Someone tell me when did the Climate stop changing in the last 65 million years.
Myth
Just sell it to aquaman.
Due to global warming 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
That man has a huge forehead
#sad
bba hahahaha greed will get you everything apparently ,, ba hahaha no sympathy
That’s why I invest in gold and not beachfront properties- I buy only in established neighborhoods like upper east side upper west side…. Like classssst neighborhoods you can’t afford
I love luxury real estate and beach real estate is risky 😢😢😢😢😢 I like to buy in established neighborhoods with rich people
Time to move to better places!
Who will pay?? 4:52 come on 😂😂😂😂😂
I ain’t paying for it you pay for it!!! Hahhahahahahaaaaaaaaqqq
It ain’t gonna help!!! 😂😂😂😂😂😂
Moneyyyyyyy 😂😂😂😂😂