Lots of investors got into Florida and Texas at the wrong time in 2022 and 2023. Now rents are dropping just as for sale inventory spikes. Ugly combination for lots of existing landlords. Head to www.reventure.app to track home price and rental rate data in your market so you can make a more informed decision as investor or buyer. Start by looking at home price/rental rates trends in your ZIP code for free.
I do pest control and have been talking about the for sale signs, but I serviced a property today which was an AB&B and now it's a rental company and occupied by Haitians. Cats and dogs in the neighborhood were present, but this crash will be worse than 08 and much worse than Desert Shield.
@@MichaelMcIntire-h5e That's a legal take though.... 😂 No calling, Out Of Bounds with them! Funny story- was driving in traffic today and saw two cars weaving lanes, the person beside me asked, ' what are they doing? ' I replied with the obvious.... They're eating the cats and dogs. 😂
I've been following this channel since 2020, and I am beginning to regret it because nothing you have said has come true. I live in Spring Hill, FL and the rents have not dropped at all, and the houses are ever so slightly coming down, but most are still getting full asking price and selling in 3 months time.
As a buyer DO NOT buy a home that is for sale from a large wall street investor. Let them lose their a**. This will make them think twice the next time they want to scoop up single family homes.
@@kenyonbissett3512 I know how it works. so yes, I agree with you. I still do not believe any individual should be able to hold more than maybe 4 properties. Mom and pops are fine, once you get to that 4+ level, its outside of that mom and pop mentality
@@hardlygamaliel455 ummmm...did you read my comment? It seems you missed the part where I mentioned "corporate landlords" as being the point of what I said. I dont recall mentioning builders.
@@BrandonCRFC you have given this some thought, I haven’t. I do know you can get FHA funding for up to 4 units if you reside in one. So that makes even more sense.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about 3 years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
I'm in Florida. Before 2020, my rent was $1250. My landlord sold his place so I had to move. I could not find anything affordable. I am now paying $2700 in rent. The salaries in Florida DO NOT match the cost of living now and people are financially STRUGGLING😢
It is like this because of the RapeThePubliCons….every bit of the economic mess faced by the US is directly related to their billionaire policies. Thank you
There has never been a guarantee that you will be able to afford to be a home owner even when working full time that is an American myth. The percentage of people who own homes has stayed in the mid 60% for many decades. It got into the high 60% just before the Great Recession which was a major cause of the Great Recession. Deregulation allowed a lot of financially unqualified people to become home owners. If you don’t make enough to save 20% to put down and a secure enough income to make payments for thirty years you shouldn’t be a home buyer, you should be a renter.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $200,000.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 3 years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
My elderly mother has 9 small rental houses in Florida she and my dad bought back in the 80’s during a real estate slump. She has always kept her rents low to keep her tenants so there is less turnover. They are happy and she doesn’t have to continuously try to find new renters (and risk that they will be the destructive kind of tenant!)
It appears that IF the investors had just charged "reasonable" rents as opposed to "gouging" people simply because they knew they could, they could have retained their properties while still making a reasonable amount of profit. But they didn't care about the misery they caused to quite a few people, pricing so many folks into the street and in some cases, into homelessness. So, absolutely NO sympathy here, folks.
@@Resultsnottalk YEP - an i hear the other day that Private Equity is starting to dump the farm land [at a loss] they bought up cos the food shortage they were banking on is not happening - and THAT makes me happy...!!!
@@che-waji3470 NO. Its better for some. What if you have to move with your job or career...??? Viena is always the No1 city in the world for quality of life - you know why? Vast amounts of government-controlled rent-controlled housing.
Private landlord here i have never raised the rent on a tenant and probably charge prices from 10 years ago but I like longevity and I can stick it to the big corporations with cheaper rent
Five years ago, I could rent a two-bedroom for $600/month. The rents these days are obscene. Florida is full of seniors on SS. Why would anyone expect us to be able to cough up $2K + a month for rent?
Stop being poor! Get into real estate like the rest of us! All you need is perfect credit and a 30k lying around for a down payment! God dang poor people make me sick. /s No but for real yeah the situation sucks. Both for renters and recent investors because both were fooled by the system.
😂😂 five years ago 600 month what you smok😂ing less you lived in the ghetto sure. Average rent cost for a two bedroom five years ago was close to 1600 to 1800 a month. Less you live in a redneck crappy pos area of Florida like apopka, Lee , plant city, or Lakeland. Those areas are so crappy job market sucks more ppl in those areas live off government higher crime rates and drug trafficking.
Am I the only one who doesn’t feel bad for these big corporations and wealthy investors? They are part of the reason why there is such little housing supply yet such great demand from young couples, first time homebuyers. They took a gamble. If they can’t afford then sell to someone who should’ve owned in the first place.
I got out of the real estate investing market about a year ago. I think it's time to get into the stock market but what's the best strategy to invest around 200K in this current market?
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
I live in Florida, and used to be a mortgage loan processor. I'm glad corporate home owners can't find renters anymore. The rental prices are ridiculously, and artificially, high. People can't afford it. Corporations having to start selling off those homes will finally make more homes available for sale to regular people. If they are sold at a lower value, the market will adjust after a while... it always does, so no need to freak out about it.
They deserve the downturn. When the market was good my rent was raised $500 a month even though I was never late and kept the place spotless. Landlords can be way too greedy and don't value loyalty.
Ours too our lease ends November our landlord about to get the surprise of their life because we’re not renewing average rent in the area is now $1650-1750 and we’re currently paying $1950 when we started renting it was $1650.
Same w. mine. She raised the rent by 500 . I downsized from a 3 bedroom house(2150, which she the wanted 2350 to resign) to a 2 bedroom brand new luxury apt (1750) and saving appx. 700 a month. No more lawn care, no more high ac bc the house was older and not energy efficient. Literally went from paying a 350 electric bill to 85. Also way more amenities...these private landlords are greedy. Do what saves you money.
With all the power of institutional investors to have the smartest teams per say to analyze the math in buying real estate they should be the first to call out the amount government scandals regarding high assessment appraisals that lead to higher property taxes. I don’t see the leadership with institutional investment management at the level to defend against property tax scandals related to the government needing more revenue. When these institutional investors lose money in real estate they should be upset with themselves looking over the number of vacancies they own a what the potential tenants can’t an will not afford. It’s on these investors to know how to lower the headaches tenants face to rent aka lease a place to live an make it easier on their income levels so they don’t risk vacating the property or not renting.
No one should buy in Florida right now. Condo values are plummeting by 25% and it's going to get worse by the end of the year. And single family homes are way overpriced along with high insurance, HOA fees, etc. Plus the heat here has become unbearable and is only getting worse every year. Do yourself a favor and stay away from Florida.
It was good before COVID hit. That's when my family got in for a steal. Paid 120k for a home on an acre of land. Worth so much more now. Nice lil town of Ocala
The elephant in the room is the relative uninsurability of many parts of Florida. Many of these companies are pulling out now because the property may be uninsurable or is soon to be uninsurable and private equity doesn’t want tens of thousands of uninsured properties on its books
Oh, wait, climate change is not just fake news and affects daily life, especially makes it very expensive already today, where it's only about to start getting hotter?!
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
When ‘Sophia Maurine Lanting’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
These investors ran us all out of Florida. It's expensive to live in S. Florida. It used to be affordable. 2 working incomes, over 150k and still struggle. Car insurance higher, gas higher, groceries are unaffordable and not just that. I am not paying 450k for a house that was 160k 4 years ago. Health care sucks, if you can find an honest doctor. As a Floridian, I am sitting back and laughing. GREED is wrong. PURE GREED not profit. Glutinous GREED. Reducing the rent doesn't lower the value of the other houses. It brings it to an honest cost. Common sense says pack your bags and move elsewhere with less crime, better medical, affordable housing. Lost Florida to Northerns, Russians and South Anericans. And apparently that's what we did. 469 condos for rent in Coral Springs.
I was just surfing the offering in Fla yesterday, The filters I applied were, 330 and below, 2+ beds, no HOA, no Apartments no 55+ community or Condos. just houses. in Broward/Dade/Palm, only a hand full of offering popped up, and the ones that did were in bad shape all and all in the higher end of my limit. now out west and in smaller towns and cities like Fort Myers and Punta Gorda, it's a buyers market, prices are dropping and there are literally hundreds of nice looking homes. 3 bdr 2 baths with garage on big lots in attractive homes for 250K that is still high compared to 4 years ago, but about 1/2 the cost of the same home if it was in my area (SE Fla). these price drops are just barely creeping down here. I think one of the reasons is that because of the Condo/Apartment situation and astronomical HOA's costs, people are dropping condos and buying homes, so we just do not have a surplus here and it is still a sellers market (for now).
I was looking at rentals in Orlando. Almost every unit that was vacant for ALSO listed for sale. It is looking like the investors are trying to bail on the unit but get a renter in there so they can "justify" the high rent. The rent they want it very close to what it would cost to buy the unit using a conventional loan with 10% down.
Planning a pretty hefty lawsuit against one of these corporate renters for their unlawful practices. There is a misconception that something authorized by statute is acceptable if it is contrary to the common law or to the Organic Laws of the United States. Most of these corporate landlords have no standing in court; people need to learn to challenge subject-matter jurisdiction, on the basis that there is no verified complaint from an injured party.
You do realize that even a landlord with 3 single family properties is highly likely to be incorporated right? That's routine business practice. Who will own rental property if not a corporation?
thats where youre wrong. It does matter because there are so many of them, and theyre all utilizing algorithms to create false demand and pricing....theyre literally using the world-wide web traffic to determine demand and pricing . @fernandomartin624
25 years ago just 5% of US housing stock was in the hands of banks/investment houses yet today it's about 25% with just 5 mega companies owning the majority. Property has replaced stocks as the go to assets for investors & about 30% of new builds are bought by investors not to live in but to flip or rent-out.
Rents are dropping here in Austin as well. My rent went from $1500 to $1300 when my wife and I renewed. They built up too much way too quickly. Good for us though.
It's also dropping because of the abortion ban in Texas a lot of working age people are leaving for refusing to relocate to Texas not worth dying from a miscarriage
I see several comments stating it should be illegal for corporations to buy/own residential houses, and I agree. However, another and perhaps more prevalent problem is foreigners and foreign corporations purchasing real estate in the USA. Only US citizens should be allowed to purchase US real estate.
Foreign money doesn’t but the kind of property families need. They buy high priced units in Miami and Fort Lauderdale. Look at the facts it’s corporate greed right here. Not everything is about foreigners
they've realized that the older houses are not worth it and they're much better off buying the entire neighborhoods brand new houses and then rent them all out
The rent cost doesn’t match the cost living here in Florida. What did they expect? Rich ppl moving to Florida? This place ain’t all that! It’s getting hotter, the storms are getting bigger, and nobody pays here.
That 1st house is a 100k house in a normal market. Literally up until 2020 that house would have sold between 70k and 100k and the price would have been steady from the 1990s until 2020. That house looks less than 1500 sq ft and probably only has 1 bathroom and was built in the late 60s or early 70s. Florida is full of these.
About time! I worked at a rental company and it was crazy how the owners raised the monthly rent 20 to 30% higher with a 60 day noticed. Totally unfair. Then they raised the car insurance, food, electricity, and gas. Where was the governor and president when this was happening and still happening!!
You do understand that cumulative inflation is over 25% at this point, right? What exactly do you suppose they should do? Insist that mom & pop investors lose their retirement income and investment they worked their whole life for? The gov't did this when they printed more money during lock down than in the entire history of the country and then decided to shut the economy down artificially boosting peoples disposable income. Now the chickens are coming home to roost. Gov't is the criminal here.
Now a Realtor is brought in to get in. Friend id a realtor and as soon as a rental came online it was people paying higher than asked to get in. West Palm Beach. He would literally try to educate & get people who'd fare better and could afford it into a place they own.
This is why I wasn’t worried when people were screaming, “Blackstone is buying up all the houses!” Real estate is a very risky investment. It’s one thing to buy it to live in. If it goes up in value, that’s great. If it goes down in value, that’s a bummer, but it’s still better than flushing your money down the toilet by renting. What worries me about large corporations like Blackstone owning so much real estate, is that if they go bankrupt, will the government bail them out because they’re “too big to fail?”
@@terryheatwole6153they won't what's actually happened is they learned that the older houses aren't reallyworth it🎉 they're much better buying entire neighborhoods much easier to manage that's why you see these new neighborhoods that are popping up that are all rentals
Given Blackstone is so large, I don’t think them getting wiped out in real estate would cause the whole thing to go under. Hopefully, they’d exit the residential real estate industry, at a significant loss, for less risky investments
@@Twangaming They're not losing they realize that single family homes are not the best Investments ..compared to home rentals where they can buy the whole neighborhood and have management and staff on site. Big Chinese companies buy the land and build the neighborhoods, and then they sell them a year after
Thee effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
Given the current market situation and the precarious state of the economy, I would recommend refraining from investing in stocks for a while or, alternatively, seeking guidance from a financial advisor. However, keeping a portion of your wealth in gold remains a wise choice.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Soft G: When the rental market drops I'm the first one to lower rent. It's a long term business. Wall Street wants a quick profit. It does NOT work in real estate. Investors need to understand it's a slow and long haul proposition. Building a community and serving the public is like any other business. Run a tight ship and have a healthy business model, you will do well.
3:38 - *_He says this like it's a bad thing._* Personally, as a non-home owner who has been wanting to purchase a home, this is music to my ears! The prices are insane right now, and have been artificially inflated by these big hedge fund and investment companies. The fact that property prices are coming back down to reasonable levels, especially since home owner insurance makes owning a home in Florida also prohibitive, is a good thing. It means normal people can afford to own a home.
I was priced out of my rental until in Dania Beach (Broward County) and left for Texas in 2023. The landlord of the complex kept raising my rent by 25%- 30% when I left in 2023 I was paying $2500 for a one bedroom Apt. Im now in Texas and I pay $1700 for a bigger nicer unit. I also had to live at motel 6 for a month and I was amazed by the number of people permanently living there
I messed up recently. I live in Las Vegas and I leased a nice house in a gated community and I was really busy so I did not have time to look around too much and the kicker was that the RE guy told me he had two other people interested so I just gave him what he was asking but I met some of the neighbors and they told me the house was vacant for six months. If I renew the list I will tell him I won't list unless I get a discount.
I was renting a place at 850 a month (really 1100 a month with hidden fees.) They doubled my rent. Journeyman electrician , moved out when I was 19 had to move back in with my parents at 38. Now my parents are going to have to move out of state because insurance and other expenses are way to high. Which means I'll have to move out of state even though I now make 1100 a week. So you have to consider that kind of fall out too. Florida is kicking everyone but the ultra wealthy out, and we won't be coming back.
lol, what? Florida is poor. Theres no jobs there. The rich are a tiny, tiny, tiny percentage of that state. Name these high paying industries these "rich" are moving for. Theres shit. Even tech jobs in FLorida pay nothing, and the tech workers are fleeing. WFH died in 2022 and Floridas economy is falling apart.
I'm totally on board with you, me and my Better behalf, are going through it too. You're original point is valid, wages don't meet living of cost in Tampa. But Don't Ever Give Up! 🙏
My wife is a transaction coordinator in southwest Florida. She told me there is a astronomical amount of listing's coming on the market in October. She has never seen this mass amount of listing's coming on.
The rental home asking $2,000 a month needs to drop to $1300 to $1500 a month in order for a couple both earning $40,000 a year to pay at a 25% income to rent ratio. Rents are still to high. The medium income in this country is about $30,000 a year. I'm surprised the wall street guys are so lousy in math.
They're worth about 150k, wait until you get a load of small towns in upstate NY and other rural areas, my home town, a redneck village, went from 100k to I saw 300k for a crappy 3 bedroom, and that towns overrun with drugs and pills and has become crime infested.
All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
Dude your videos are so helpful. I’ve only recently become focused on real estate and its effect on the overall economy and I’ve learned a lot since subscribing. Thanks for all the great info.
I just moved out of Florida and couldn’t be happier. Paying less in rent, near public transit, my car insurance has lowered drastically. Florida is beautiful but not worth the price at all.
I remember during the 2008 period, watching a news report (maybe '60 mins'?) of a woman in the Midwest (Detroit? Chicago?) who owned a home but was underwater on the payments. When asked, 'why do you continue to pay?' she said, "it's my name on the paperwork." I thought, do you think the bank/financiers wouldn't cut bait and throw you away in a New York Second if you weren't making them money? Banks have zero compassion. They have Balance Ledgers.
Just applied to rent a house in Cape Coral FL from Main Street Renewal.... they bought in 22 and haven't rented since purchased... dropped rent from $2410 to $1230 per month.... I've been paying $2K/ mo for the past 2 years for rentals that should be half that..... update... couldn't pay the deposit fast enough, someone was able to snag it from me... wasn't meant to be
I live in South Florida and although the rent hasn't continued to skyrocket, housing is still hard to find & the average for a 1/1 is still $2100 a month
Myself, real estate mindset, and Melody Wright started reporting this back in March in Texas on our channels. The notions that “investors will just buy if too expensive for families” or “everyone is moving to tx and fl, their housing will boom” getting exposed
@fladave99 They tried charging Rolls Royce prices for a beater Honda, and are now standing back wondering why neither the Rolls Royce people nor the Honda people are buying from them anymore.
If you don’t understand how businesses work’s you’ll think this is a bad thing for the company. But they will use this to save hundreds of millions of dollars in tax. They can also go back 3 years and get money back from the IRS and from the future profits . But it also helped private citizens by not taking the massive losses they would have inherited by buying because they don’t know how the economy works.
Why do you think rent is going down? 2 giant hurricanes just dropped in Florida and everyone is leaving, why would people wanna pay more to live in a place to risk their lives in a state where your flooded every summer.
Landlords, please fix and update your homes. Im living in a home with asbestos. My 3 children and I have been continuously sick being in the home, and that's just the beginning of it all. I've fallen into a money pit I've been scraping to get out of. And I've spoken to the landlord. I was told to leave.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@MarieWentworth-p2h bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@@IsabelAllende-s2r The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Zoe Ann Wiest’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@MarieWentworth-p2h I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Thank you for this content most land lords don’t put themselves on the other’s shoes,most of them only think is making moneys.Greediness I don’t feel sorry for them I feel sorry for the struggling renters.
Landlords will always cover their costs with rent increases. If there insurance on a house went from 2000.00 a year to 6000.00 a year (And in Florida insurance has been going up astronomically every year) then that 4000.00 will be passed on to the tenant. That means rents will have to increase 333.00 a month to cover the insurance rise. Of course insurance isn’t the only thing going up….so are property taxes so those will also be passed on to the tenant. If a landlord isn’t covering expenses and gaining cash flow there is no reason to have an investment property.
As someone who lives in bradenton i can tell you that even the apartments that were supposed to help with congestion were like 2100-2200 for a one bedroom at like 800sqft last I checked. For how much gentrification happened i hope some of those companies lose.
Agree with everyone, salaries in FL do not match the cost of living. People are living in their vehicles. I was looking for a studio and the rent was more than 100% of my take home paid. Most people I know are paying up to 80% of their take home paid on rent. They like me are caught between make too much to get any help but do not make enough to rent, so have to rent a room or live in your vehicle.
They didn’t believe us when we told them prices were going to be sliding, and now it’s literally sliding 🤣. Still ridiculously overpriced though. Renting is done for cause as soon as the price dropped by 15% more, people who still able to hold on to a job and have good credits are buying houses instead of renting. Rental units are done for.
I rent from AMH. They are "as is" properties. They fix what they have to and leave the rest. These companies just want the money and nothing else. I'm also in NC.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Lisa Annette Robinson, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes it I feel so down 🤦♀️of myself because of low finance but I still believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Lisa Annette Robinson 😊🎉
Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
I cannot rejoice more from a news like this!! I own a house, but I do see the abuse and greed of some companies and investors that care only about profits. If this news is true then thanks be to the Lord!!
@@AtB_Travel MEANINGLESS, FLA has super high other taxes like homeonwers insurance and tax on real estate. FAR overshadows the NO income tax, better off where you came from !
Don’t forget that rental income is INCOME…reported on your income taxes and those taxes are due quarterly, not when you file your annual tax. Your employer collects your taxes during the year, and they go to the IRS. You do taxes once a year, and may owe some, get a refund, or have withheld exactly what was owed. The income from a small business or rental property is likewise supposed to be paid during the year, and reconciled on the annual tax form. Talk to an accountant, or a knowledgeable person. Also check your state laws regarding rentals and taxes and insurance requirements.
how much it rents for is not related to value anymore .Due to speculation its how much will it be worth in 5 years .theres no positive cash flow anymore
My neighbor has over 10 single family properties in Naples, FL and just told me that they are worried because their tenants are moving out and they already have vacant properties.
I paid $1600 on rent in San Diego in 2019 and that was expensive for San Diego standards. Now countrywide the rent is more than I paid in Southern California. Let me tell you what if these greedy corporations are going to sit there and think that people like you and me are gonna waste their time, effort and hard earned money to rent an overpriced apartment that’s not worth what they’re selling. They’re dead wrong and actions speak louder than words there are literally no tenets. No people can afford to rent it and a year ago when I talked about this, my phone would get blown up with comments, saying how I am the loser for not making enough money or how I am a loser but it’s very clear that they are all chat. GPT bots from China and I wasn’t chatting with real people because every time I mention that their bots and that they’re not real people, I says it anymore which makes it very clear it was just ChatGPTand I could guarantee after the elections over. It will all come to an end like nothing happened.
I hope this is a wide spread thing across the US. I bought a house 20 years ago but if I where young I would refuse to rent from Blackrock and live in my car like a homeless person instead - as a protest. It should be illegal for giant investors to buy up all the houses. Politicians say "regulation" is bad- but they need to "regulate" the housing industry so people can buy homes again.
Mind you, these houses that are going to see prices plummet are in very non desirable areas. You won't see this type of action in Miami or Ft Lauderdale or Tampa.
We’re in the process of selling our house and looking to just rent for awhile. I have about ten single family homes I’m keeping an eye on while waiting for closing. All of them have had price cuts of $200+, or the landlord knew what was up and listed them a lot lower than last year right from the start. They’re sitting on the rental market for 30-60+ days in a really desirable suburb of Tampa, the market has really changed compared to a little over a year ago when I was last looking. I am glad my only options aren’t own a home or live in an apartment, that I do have the option to rent and have a yard for my dogs and no stairs or shared walls.
It's a con job. These corporate investors convince people to invest in their company, and convince them that housing will only increase in value, then when it goes down, the investors shrug their shoulders and say "oh well, too bad for you." Then walk off with whatever gains they managed to amass.
i have no sympathy for the landlords loosing money now that the housing bubble is popping now. Where im at 6 years ago you could get a 3BR/3Bath rental for $1100 a month without issue. Just to get that now you are going to pay $2400-2600 a month. Its insane and the only people affording these prices are those in the military who are temps here. But everyone else is having to move away where its alittle cheaper.
A lot of properties around me - old mobiles - have been bought up and renovated. I wouldn't trust the renovations to be solid and safe to either buy or rent. As a home owner, most of the damage to my place was done by inept "skilled" workman. On the surface, made it look good, but after awhile, the quality shows. For example, lights fall out of the ceiling, plugs come out of walls....I trust no one here in Florida. (Marion County)
When cost to rent vs. cost to own diverges wildly, eventually things will normalize. Can't maintain a large differential between the two without active government policy and spending.
Anyone else feeling the vibe like seeing Nick in Florida talking about the real estate downturn is like seeing Jim Cantore in your town right before the hurricane hits? A storm is brewing.
The property taxes the real issue. Imagine buying your house for $60,000 and then having the local government tell you oh yeah you owe taxes on $250,000. It's absolutely insane taxing people on unrealized gains is nuts. Also people need to stop treating housing as a infinite money glitch. Corporations should not be in the business of making money off of people's ability to have a home. We need some federal regulation😊
@@LycanFerret My issue is when I buy my house for $60,000 in 2010 and you want to try to tell me it's worth $250,000 14 years later and it was built in 1978. It's just a fake number I should only get taxed at the price I paid
@@Riga352 That's probably due to where you live with greedy real estate investors fighting and artificially inflating home prices due to "scarcity". I know where I am, a very undesirable location, there are many homes that were built in the 70-90s and they are in fine condition priced around $50K-100K.
A lot of people, including my friends who own homes, have zero sympathy for the crushing rent increases in Florida. They just laugh and cite "supply & demand." But in Florida it wasn't simply supply & demand. A ton of people moved here from expensive states. They sold their inflated homes, or had six-figure pensions, or remote jobs paying high salaries. They easily outcompeted Floridians tied to wages in a service economy. There was greed all over. The influx people, to escape covid, had the cash to pay literally anything for rent. They wanted a place in the sun to ride out the pandemic. They'd offer landlords $600/month over asking price to grab apartments in places like South Florida. They came from "me-first" cultures and didn't give local Floridians a second thought. It was all about them. The landlords gladly took the money. I talked to many. Privately they admitted that they raised the rent so much "because they could." The governor wouldn't even impose temporary rent controls or make any arrangements for working Floridians. For political purposes he urged NYers to come on down. He excused himself by saying that he believed that no rent controls would help working Floridians because it would encourage new apartment construction and bring prices down. But, the new construction ended up being quickly and shoddily built "luxury apartments" aimed at transplants. Now the hurricanes are hitting, but I predict that once things clear up, affluent transplants will continue to pour in. Florida will be a state of wealthy people and their "servants." The latter will lived crammed together with roommates or multigenerational family, all working side jobs to stay afloat. No sympathy for these landlords. Never trust them again. They'll do it to you again when they get the chance,
Oh wow… it’s almost like that’s an unreasonable price for RENT! $2000…? That sounds like a price should be paying if I was owning a home. Not RENTING a home. It’s almost like that’s an unreasonable price.
Lots of investors got into Florida and Texas at the wrong time in 2022 and 2023. Now rents are dropping just as for sale inventory spikes. Ugly combination for lots of existing landlords.
Head to www.reventure.app to track home price and rental rate data in your market so you can make a more informed decision as investor or buyer.
Start by looking at home price/rental rates trends in your ZIP code for free.
I do pest control and have been talking about the for sale signs, but I serviced a property today which was an AB&B and now it's a rental company and occupied by Haitians.
Cats and dogs in the neighborhood were present, but this crash will be worse than 08 and much worse than Desert Shield.
@GardenerEarthGuy So, what are the odds for the cats and dogs? The Muscovey ducks are certainly doomed!
@@GardenerEarthGuy lol
@@MichaelMcIntire-h5e
That's a legal take though....
😂
No calling, Out Of Bounds with them!
Funny story- was driving in traffic today and saw two cars weaving lanes, the person beside me asked, ' what are they doing? '
I replied with the obvious....
They're eating the cats and dogs.
😂
I've been following this channel since 2020, and I am beginning to regret it because nothing you have said has come true. I live in Spring Hill, FL and the rents have not dropped at all, and the houses are ever so slightly coming down, but most are still getting full asking price and selling in 3 months time.
As a buyer DO NOT buy a home that is for sale from a large wall street investor. Let them lose their a**. This will make them think twice the next time they want to scoop up single family homes.
Exactly what I was going to say.
Exactly well said 😊
Or the government will bail them out and we get screwed twice.
Don’t sell to one either!
Psychopaths don't learn from negative reinforcement. They only change their tactics.
Corporate landlords should not exist. No company should ever own residential property. period.
Ummm... Then how do houses even get built? You do realize that almost all builders (even the small ones) are corporations don't you?
You’re thinking huge corporations and hedge funds. Many mom and pop rental owners are small corporations for tax purposes.
@@kenyonbissett3512 I know how it works. so yes, I agree with you. I still do not believe any individual should be able to hold more than maybe 4 properties. Mom and pops are fine, once you get to that 4+ level, its outside of that mom and pop mentality
@@hardlygamaliel455 ummmm...did you read my comment? It seems you missed the part where I mentioned "corporate landlords" as being the point of what I said. I dont recall mentioning builders.
@@BrandonCRFC you have given this some thought, I haven’t. I do know you can get FHA funding for up to 4 units if you reside in one. So that makes even more sense.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about 3 years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
I'm in Florida. Before 2020, my rent was $1250. My landlord sold his place so I had to move. I could not find anything affordable. I am now paying $2700 in rent. The salaries in Florida DO NOT match the cost of living now and people are financially STRUGGLING😢
Try Georgia or Ok.
@Bonneville-b3m I work three jobs. I'm considering moving.
Brain surgeons in Florida only make $10.00 an hour, so the investors want $2800 a month rent?
@@pumpupjam9648 😂😂😂
South Carolina
As a young, working american that has been priced out of the housing market for years, all i have to say is GOOD. It never should have been like this.
It is like this because of the RapeThePubliCons….every bit of the economic mess faced by the US is directly related to their billionaire policies. Thank you
😆
Id just leave the country Malaysia has some nice homes in safe neighborhoods
There has never been a guarantee that you will be able to afford to be a home owner even when working full time that is an American myth. The percentage of people who own homes has stayed in the mid 60% for many decades. It got into the high 60% just before the Great Recession which was a major cause of the Great Recession. Deregulation allowed a lot of financially unqualified people to become home owners. If you don’t make enough to save 20% to put down and a secure enough income to make payments for thirty years you shouldn’t be a home buyer, you should be a renter.
@ said like a true oligarch
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $200,000.
@@williamDonaldson432 Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 3 years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I lowered my rent last year to keep a renter and it worked. Nothing beats 100% occupancy of a mortgage free rental.
Especially if the renter is good and proven to be trusted.
It’s always better to rent from an individual than one of these investment companies.
My elderly mother has 9 small rental houses in Florida she and my dad bought back in the 80’s during a real estate slump. She has always kept her rents low to keep her tenants so there is less turnover. They are happy and she doesn’t have to continuously try to find new renters (and risk that they will be the destructive kind of tenant!)
Leech
@@SamWilkinsonn
Are you ok?
It appears that IF the investors had just charged "reasonable" rents as opposed to "gouging" people simply because they knew they could, they could have retained their properties while still making a reasonable amount of profit. But they didn't care about the misery they caused to quite a few people, pricing so many folks into the street and in some cases, into homelessness. So, absolutely NO sympathy here, folks.
👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
What would have happened if all these renters who were getting screwed burned down their apto ? Would they get the message ?
@@InMyBrz
Ouch!!! That's kinda on the extreme side, don't you think? Lol
Exactly
Facts
*“Landlords on the verge of bankruptcy.”* one of the nicest sentences in the English language...!!!
Great to hear ! Karma
@@Resultsnottalk YEP - an i hear the other day that Private Equity is starting to dump the farm land [at a loss] they bought up cos the food shortage they were banking on is not happening - and THAT makes me happy...!!!
"Buying your own house so you don't have to rent" is better.
@@che-waji3470 NO. Its better for some. What if you have to move with your job or career...??? Viena is always the No1 city in the world for quality of life - you know why?
Vast amounts of government-controlled rent-controlled housing.
@piccalillipit9211 rent it out and buy again. You all hate landlords but clearly need them cuz you can't or won't buy.
I've been renting the same place for nearly 10 years and my landlords have only raised my rent by 20 dollars on my already cheap apt. I feel lucky.
You should be taking very good care of your landlord, they die your rent is going way up. Glad to hear someone is getting a deal.
You are Blessed 🙌🏽
You are bless, you found a land lord that have a heart
U r rentlord is smert
Silence you fool! Don't let...THEM know!
Private landlord here i have never raised the rent on a tenant and probably charge prices from 10 years ago but I like longevity and I can stick it to the big corporations with cheaper rent
A true rarity
👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
You must be one of the few landlords who can sleep well at night. Thank you for being a good human!!!👏👏👏
Doing the Lords work!!!
People like myself definitely applaud landlords like you! Unfortunately, you and properties like yours are extremely hard to find these days!
Five years ago, I could rent a two-bedroom for $600/month. The rents these days are obscene. Florida is full of seniors on SS. Why would anyone expect us to be able to cough up $2K + a month for rent?
Stop being poor! Get into real estate like the rest of us! All you need is perfect credit and a 30k lying around for a down payment! God dang poor people make me sick.
/s No but for real yeah the situation sucks. Both for renters and recent investors because both were fooled by the system.
😂😂 five years ago 600 month what you smok😂ing less you lived in the ghetto sure.
Average rent cost for a two bedroom five years ago was close to 1600 to 1800 a month. Less you live in a redneck crappy pos area of Florida like apopka, Lee , plant city, or Lakeland. Those areas are so crappy job market sucks more ppl in those areas live off government higher crime rates and drug trafficking.
@@jamestillman5247
Give a FIRM handshake to your boss, look him in the eye and say “I NEED MORE MONEY”
and then PULL YOURSELF UP BY THE BOOTSTRAPS
@@jamestillman5247 ok Cartman ! I agree, poor people stink!
Am I the only one who doesn’t feel bad for these big corporations and wealthy investors? They are part of the reason why there is such little housing supply yet such great demand from young couples, first time homebuyers. They took a gamble. If they can’t afford then sell to someone who should’ve owned in the first place.
I got out of the real estate investing market about a year ago. I think it's time to get into the stock market but what's the best strategy to invest around 200K in this current market?
It's wise to seek expert assistance when beginning your financial portfolio. market is volatile, so professional guidance is so important.
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
I've recently sold some property and am interested in investing in stocks, I'm seeking guidance. could you refer me to your advisor
Amy Lea Kohlert is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I live in Florida, and used to be a mortgage loan processor. I'm glad corporate home owners can't find renters anymore. The rental prices are ridiculously, and artificially, high. People can't afford it. Corporations having to start selling off those homes will finally make more homes available for sale to regular people. If they are sold at a lower value, the market will adjust after a while... it always does, so no need to freak out about it.
Happy news! I'm glad the big corporations aren't doing so well.
Well, those companies are managing your pension plan. Good luck retiring!
Yep, they can't collapse any sooner.
I'll bet the employees they lay off aren't as happy as you are.
Why do you want the economy to fail?
The big guys EMPLOY people Poor people don't employ anyone
They deserve the downturn. When the market was good my rent was raised $500 a month even though I was never late and kept the place spotless. Landlords can be way too greedy and don't value loyalty.
Ours too our lease ends November our landlord about to get the surprise of their life because we’re not renewing average rent in the area is now $1650-1750 and we’re currently paying $1950 when we started renting it was $1650.
Same w. mine. She raised the rent by 500 . I downsized from a 3 bedroom house(2150, which she the wanted 2350 to resign) to a 2 bedroom brand new luxury apt (1750) and saving appx. 700 a month. No more lawn care, no more high ac bc the house was older and not energy efficient. Literally went from paying a 350 electric bill to 85. Also way more amenities...these private landlords are greedy. Do what saves you money.
They are just prostitutes selling to the highest bidder, except there are NO buyers anymore
With all the power of institutional investors to have the smartest teams per say to analyze the math in buying real estate they should be the first to call out the amount government scandals regarding high assessment appraisals that lead to higher property taxes. I don’t see the leadership with institutional investment management at the level to defend against property tax scandals related to the government needing more revenue. When these institutional investors lose money in real estate they should be upset with themselves looking over the number of vacancies they own a what the potential tenants can’t an will not afford. It’s on these investors to know how to lower the headaches tenants face to rent aka lease a place to live an make it easier on their income levels so they don’t risk vacating the property or not renting.
Same with my rent. The landlord didn’t even allow me to sign a 12 month agreement, only 7 months since every time he increased my rent with $250/month
No one should buy in Florida right now. Condo values are plummeting by 25% and it's going to get worse by the end of the year. And single family homes are way overpriced along with high insurance, HOA fees, etc.
Plus the heat here has become unbearable and is only getting worse every year. Do yourself a favor and stay away from Florida.
Agree. Sold all my RE in SoBe in 2005. It was outrageous then. Miami is crazy now.
It was good before COVID hit. That's when my family got in for a steal. Paid 120k for a home on an acre of land. Worth so much more now. Nice lil town of Ocala
Yes it’s terrible here in Florida. Please don’t come here. Sick of all the people who have moved here in the past 3-4 years 😂
@@travisrichardson6233 its trash
@@SA-hz1rs Exactly so everyone should stop coming here.
The elephant in the room is the relative uninsurability of many parts of Florida. Many of these companies are pulling out now because the property may be uninsurable or is soon to be uninsurable and private equity doesn’t want tens of thousands of uninsured properties on its books
Oh, wait, climate change is not just fake news and affects daily life, especially makes it very expensive already today, where it's only about to start getting hotter?!
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
When ‘Sophia Maurine Lanting’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
These investors ran us all out of Florida. It's expensive to live in S. Florida. It used to be affordable. 2 working incomes, over 150k and still struggle. Car insurance higher, gas higher, groceries are unaffordable and not just that. I am not paying 450k for a house that was 160k 4 years ago. Health care sucks, if you can find an honest doctor. As a Floridian, I am sitting back and laughing. GREED is wrong. PURE GREED not profit. Glutinous GREED. Reducing the rent doesn't lower the value of the other houses. It brings it to an honest cost. Common sense says pack your bags and move elsewhere with less crime, better medical, affordable housing. Lost Florida to Northerns, Russians and South Anericans. And apparently that's what we did. 469 condos for rent in Coral Springs.
That is what I have thought.
I was just surfing the offering in Fla yesterday, The filters I applied were, 330 and below, 2+ beds, no HOA, no Apartments no 55+ community or Condos. just houses. in Broward/Dade/Palm, only a hand full of offering popped up, and the ones that did were in bad shape all and all in the higher end of my limit.
now out west and in smaller towns and cities like Fort Myers and Punta Gorda, it's a buyers market, prices are dropping and there are literally hundreds of nice looking homes. 3 bdr 2 baths with garage on big lots in attractive homes for 250K that is still high compared to 4 years ago, but about 1/2 the cost of the same home if it was in my area (SE Fla). these price drops are just barely creeping down here. I think one of the reasons is that because of the Condo/Apartment situation and astronomical HOA's costs, people are dropping condos and buying homes, so we just do not have a surplus here and it is still a sellers market (for now).
I was looking at rentals in Orlando. Almost every unit that was vacant for ALSO listed for sale. It is looking like the investors are trying to bail on the unit but get a renter in there so they can "justify" the high rent. The rent they want it very close to what it would cost to buy the unit using a conventional loan with 10% down.
Check out state farm I got half off what I was paying. Hope it helps you.
Planning a pretty hefty lawsuit against one of these corporate renters for their unlawful practices. There is a misconception that something authorized by statute is acceptable if it is contrary to the common law or to the Organic Laws of the United States. Most of these corporate landlords have no standing in court; people need to learn to challenge subject-matter jurisdiction, on the basis that there is no verified complaint from an injured party.
MY HEART IS FILLED WITH JOY THANKS
This should be illegal in every state. Corporations should not own or rent out residential property. 🤔
You do realize that even a landlord with 3 single family properties is highly likely to be incorporated right? That's routine business practice. Who will own rental property if not a corporation?
@@TheRealJBMcMunn So what? Grandma and Grandpa can get a real job or invest in the stock market or an annuity.
You must be a communist
It's not that a company owns a few houses like 2 - 20 , it's about monster corps that will have tens of thousands of them maybe an issue.
thats where youre wrong. It does matter because there are so many of them, and theyre all utilizing algorithms to create false demand and pricing....theyre literally using the world-wide web traffic to determine demand and pricing . @fernandomartin624
A small studio that used to cost 500 bucks in 2015 and 625 in 2019, now costs 1650 in 2024. It's insane.
25 years ago just 5% of US housing stock was in the hands of banks/investment houses yet today it's about 25% with just 5 mega companies owning the majority. Property has replaced stocks as the go to assets for investors & about 30% of new builds are bought by investors not to live in but to flip or rent-out.
Rents are dropping here in Austin as well. My rent went from $1500 to $1300 when my wife and I renewed. They built up too much way too quickly. Good for us though.
It's also dropping because of the abortion ban in Texas a lot of working age people are leaving for refusing to relocate to Texas not worth dying from a miscarriage
yeah its Texas. im not going to that dictatorship of a state
Congratulations your only paying $1300 for property that should be going for $750.
@@Kwk16534that's the silliest thing I've ever heard😂 over a thousand people a day move to Texas
This is good. Keep building!
I see several comments stating it should be illegal for corporations to buy/own residential houses, and I agree. However, another and perhaps more prevalent problem is foreigners and foreign corporations purchasing real estate in the USA. Only US citizens should be allowed to purchase US real estate.
Foreign money laundering through properties
Why in the world would you want to discourage foreign investment? That hurts our economy more than helps
Okay bud @@dannylengyel5830
And when all countries ban Americans from buying property, then what?
Foreign money doesn’t but the kind of property families need. They buy high priced units in Miami and Fort Lauderdale. Look at the facts it’s corporate greed right here. Not everything is about foreigners
Investors got greedy, and now they are paying the price .. it's called KARMA..
they've realized that the older houses are not worth it and they're much better off buying the entire neighborhoods brand new houses and then rent them all out
The rent cost doesn’t match the cost living here in Florida. What did they expect? Rich ppl moving to Florida? This place ain’t all that! It’s getting hotter, the storms are getting bigger, and nobody pays here.
I live in fla too and totally agree
That 1st house is a 100k house in a normal market. Literally up until 2020 that house would have sold between 70k and 100k and the price would have been steady from the 1990s until 2020. That house looks less than 1500 sq ft and probably only has 1 bathroom and was built in the late 60s or early 70s. Florida is full of these.
Most homes in literally doubled and some almost tripled in the two year period between 2020 and 2022. Ridiculous
Yes, these scumbags need to loose 200% because that's what they jacked up the price in the last 5 years
About time! I worked at a rental company and it was crazy how the owners raised the monthly rent 20 to 30% higher with a 60 day noticed. Totally unfair. Then they raised the car insurance, food, electricity, and gas. Where was the governor and president when this was happening and still happening!!
You do understand that cumulative inflation is over 25% at this point, right? What exactly do you suppose they should do? Insist that mom & pop investors lose their retirement income and investment they worked their whole life for? The gov't did this when they printed more money during lock down than in the entire history of the country and then decided to shut the economy down artificially boosting peoples disposable income. Now the chickens are coming home to roost. Gov't is the criminal here.
Sad. I'm so glad I don't have kids.
Now a Realtor is brought in to get in. Friend id a realtor and as soon as a rental came online it was people paying higher than asked to get in. West Palm Beach. He would literally try to educate & get people who'd fare better and could afford it into a place they own.
It’s because their insurance and taxes also went up. It’s called expenses.
Florida has been red for 20 years and repubs don't ever solve problems.
If a place sits empty, the price will go down. Say no to expensive vrbo rentals
This is why I wasn’t worried when people were screaming, “Blackstone is buying up all the houses!” Real estate is a very risky investment. It’s one thing to buy it to live in. If it goes up in value, that’s great. If it goes down in value, that’s a bummer, but it’s still better than flushing your money down the toilet by renting. What worries me about large corporations like Blackstone owning so much real estate, is that if they go bankrupt, will the government bail them out because they’re “too big to fail?”
Exactly this….I hope they loose every drop of money they ever inherited.
@@terryheatwole6153they won't what's actually happened is they learned that the older houses aren't reallyworth it🎉 they're much better buying entire neighborhoods much easier to manage that's why you see these new neighborhoods that are popping up that are all rentals
Given Blackstone is so large, I don’t think them getting wiped out in real estate would cause the whole thing to go under. Hopefully, they’d exit the residential real estate industry, at a significant loss, for less risky investments
@@Twangaming They're not losing they realize that single family homes are not the best Investments ..compared to home rentals where they can buy the whole neighborhood and have management and staff on site. Big Chinese companies buy the land and build the neighborhoods, and then they sell them a year after
Thee effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
Given the current market situation and the precarious state of the economy, I would recommend refraining from investing in stocks for a while or, alternatively, seeking guidance from a financial advisor. However, keeping a portion of your wealth in gold remains a wise choice.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
The investor class has become a predatory class.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Soft G: When the rental market drops I'm the first one to lower rent. It's a long term business. Wall Street wants a quick profit. It does NOT work in real estate. Investors need to understand it's a slow and long haul proposition. Building a community and serving the public is like any other business. Run a tight ship and have a healthy business model, you will do well.
Idiot here. What is "Soft G"?
TOO MANY STUPID INVESTORS
3:38 - *_He says this like it's a bad thing._* Personally, as a non-home owner who has been wanting to purchase a home, this is music to my ears! The prices are insane right now, and have been artificially inflated by these big hedge fund and investment companies. The fact that property prices are coming back down to reasonable levels, especially since home owner insurance makes owning a home in Florida also prohibitive, is a good thing. It means normal people can afford to own a home.
Preach
A lot of landlords abused their tenants charging whatever the hell they wanted. Some literally doubled their rents so now they can suck it up!
I was priced out of my rental until in Dania Beach (Broward County) and left for Texas in 2023. The landlord of the complex kept raising my rent by 25%- 30% when I left in 2023 I was paying $2500 for a one bedroom Apt. Im now in Texas and I pay $1700 for a bigger nicer unit. I also had to live at motel 6 for a month and I was amazed by the number of people permanently living there
Which part of Texas? I’ve been thinking about moving there. I’m also in FL.
San Antonio it’s a great city in my opinion. Texans are nice and hospitable
I messed up recently. I live in Las Vegas and I leased a nice house in a gated community and I was really busy so I did not have time to look around too much and the kicker was that the RE guy told me he had two other people interested so I just gave him what he was asking but I met some of the neighbors and they told me the house was vacant for six months. If I renew the list I will tell him I won't list unless I get a discount.
I’m in Las Vegas and gated areas are a ripoff
If you own more than two houses that you don't live in for at least 6 months out of the year, the property taxes on it should be astronomical.
I was renting a place at 850 a month (really 1100 a month with hidden fees.) They doubled my rent. Journeyman electrician , moved out when I was 19 had to move back in with my parents at 38. Now my parents are going to have to move out of state because insurance and other expenses are way to high. Which means I'll have to move out of state even though I now make 1100 a week. So you have to consider that kind of fall out too. Florida is kicking everyone but the ultra wealthy out, and we won't be coming back.
lol, what? Florida is poor. Theres no jobs there. The rich are a tiny, tiny, tiny percentage of that state. Name these high paying industries these "rich" are moving for. Theres shit. Even tech jobs in FLorida pay nothing, and the tech workers are fleeing. WFH died in 2022 and Floridas economy is falling apart.
DeSTUPID has killed the state of FLA, you can thank him and the stupid people who voted for him
my man you need to start your own business
@@Or1undo Need a Master's license first. Just got my J card. Then I can start pulling permits.
*too high.
I'm totally on board with you, me and my Better behalf, are going through it too. You're original point is valid, wages don't meet living of cost in Tampa. But Don't Ever Give Up! 🙏
I love how these properties raise the rent every year, but don't give upgrades for that raise in rent.
My wife is a transaction coordinator in southwest Florida. She told me there is a astronomical amount of listing's coming on the market in October. She has never seen this mass amount of listing's coming on.
Everyone is leaving
Keep us updated on realtime data trends
Impatiently waiting for this list astronomicaL amount of listing and ready to buy.And where to buy crystal ball to see future
That's awesome! 👏👏 Homes for the rest of us!!!🤞
That's called a collapse of the market. Long may it continue. Biggest rip off state in the union. Thanks Ron.
The rental home asking $2,000 a month needs to drop to $1300 to $1500 a month in order for a couple both earning $40,000 a year to pay at a 25% income to rent ratio. Rents are still to high. The medium income in this country is about $30,000 a year. I'm surprised the wall street guys are so lousy in math.
The king or the communist party always assumes the peasants have something stashed away somewhere.
🤣🍿
@@martingrey2231 🤣
I rent a house for 1,300, alone and my income is 31,000 a year in retirement. It depends how you spend your money.
Exactly yes you are one hundred percent correct. They need to get their heads out of their asses before they lose them
@@Automedon2 Exactly. We don't have an inflation problem we have a spending problem.
Man some of these FL neighborhoods are uuuugly. That will be $350K please
They're worth about 150k, wait until you get a load of small towns in upstate NY and other rural areas, my home town, a redneck village, went from 100k to I saw 300k for a crappy 3 bedroom, and that towns overrun with drugs and pills and has become crime infested.
Don’t buy a property in Florida under any circumstances. Insurance costs, HOA, taxes and risk are too high and will remain high.
Housing is the basic human necessity and should not be controlled by big corporations!!!!
Tell that to the 🍊 💩
health as well !
All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety.
Worried about my $420,000 retirement savings losing value, I seek alternative security for my money
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Jessica Lee Horst is the licensed advisor I use. Just research the name. You'd find necessary details to work with to set up an appointment
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
I've noticed the same. Soooooooo many homes are going up for sale in NY and not one single media outlet has made a report on it yet. It's super weird.
NY is not Florida. I spend my time on Zillow and the sales arent keeping up with the buyers.
@@Jen1112111Depends if he means upstate, western or nyc
Dude your videos are so helpful. I’ve only recently become focused on real estate and its effect on the overall economy and I’ve learned a lot since subscribing. Thanks for all the great info.
I would never get a house in Florida on account of the weather. Too much risk from externalities that isn't factored into the pricing.
I just moved out of Florida and couldn’t be happier. Paying less in rent, near public transit, my car insurance has lowered drastically. Florida is beautiful but not worth the price at all.
What state did you move to, I'm strongly considering leaving FL myself for good in tge near future.
@vincentalakija5515 I am originally from bucks county Pennsylvania and I moved back to this area. I lived in Florida for a few years
Me too
I moved from Florida,the best decision i ever made in my life
I remember during the 2008 period, watching a news report (maybe '60 mins'?) of a woman in the Midwest (Detroit? Chicago?) who owned a home but was underwater on the payments. When asked, 'why do you continue to pay?' she said, "it's my name on the paperwork." I thought, do you think the bank/financiers wouldn't cut bait and throw you away in a New York Second if you weren't making them money? Banks have zero compassion. They have Balance Ledgers.
Just applied to rent a house in Cape Coral FL from Main Street Renewal.... they bought in 22 and haven't rented since purchased... dropped rent from $2410 to $1230 per month.... I've been paying $2K/ mo for the past 2 years for rentals that should be half that..... update... couldn't pay the deposit fast enough, someone was able to snag it from me... wasn't meant to be
That's about what Lehigh is right now. As soon as this lease ends in a year, hoping the homes will be lower.
cape is a swamp
❤❤❤❤❤
Make sure it's not in foreclosure before you sign the lease and put a deposit.
Cape coral got hit with ian really bad 🧐
I live in South Florida and although the rent hasn't continued to skyrocket, housing is still hard to find & the average for a 1/1 is still $2100 a month
Landlords are complete scumbags. If they lose I have no sympathy.
Good. Most home values are HORRIBLY overinflated. Get the market back down to sane prices
Myself, real estate mindset, and Melody Wright started reporting this back in March in Texas on our channels. The notions that “investors will just buy if too expensive for families” or “everyone is moving to tx and fl, their housing will boom” getting exposed
@fladave99 They tried charging Rolls Royce prices for a beater Honda, and are now standing back wondering why neither the Rolls Royce people nor the Honda people are buying from them anymore.
@fladave99what the H are you doing eating McD? Many local joints are similar prices and better food.
No bailouts! I can already hear the moaning and groaning for a sweet, sweet bailout at our expense.
Well, those companies are managing your pension plan. Good luck retiring!
@@tonyburzio4107Gen x and younger aint seeing retirement. Boomers getting the last of it
If you don’t understand how businesses work’s you’ll think this is a bad thing for the company. But they will use this to save hundreds of millions of dollars in tax. They can also go back 3 years and get money back from the IRS and from the future profits . But it also helped private citizens by not taking the massive losses they would have inherited by buying because they don’t know how the economy works.
Why do you think rent is going down? 2 giant hurricanes just dropped in Florida and everyone is leaving, why would people wanna pay more to live in a place to risk their lives in a state where your flooded every summer.
*you’re flooded…
That house in St. Pete is about to go under water in few days after Milton.
Good. Please no one buy these properties and wait for the foreclosure.
The rent is too damn high!
Seems like everyone is trying to make another dollar instead of solve real problems. How to we fix this housing cost problem?
USA is turning into California
Landlords, please fix and update your homes. Im living in a home with asbestos. My 3 children and I have been continuously sick being in the home, and that's just the beginning of it all. I've fallen into a money pit I've been scraping to get out of. And I've spoken to the landlord. I was told to leave.
Thank you so much for sharing this information. The housing market is just appalling. Something has to give
West Va & "an investment economy" - never thought I'd hear those 2 things in the same sentence.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@MarieWentworth-p2h bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@@IsabelAllende-s2r The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Zoe Ann Wiest’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@MarieWentworth-p2h I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Thank you for this content most land lords don’t put themselves on the other’s shoes,most of them only think is making moneys.Greediness I don’t feel sorry for them I feel sorry for the struggling renters.
Landlords will always cover their costs with rent increases. If there insurance on a house went from 2000.00 a year to 6000.00 a year (And in Florida insurance has been going up astronomically every year) then that 4000.00 will be passed on to the tenant. That means rents will have to increase 333.00 a month to cover the insurance rise. Of course insurance isn’t the only thing going up….so are property taxes so those will also be passed on to the tenant. If a landlord isn’t covering expenses and gaining cash flow there is no reason to have an investment property.
As someone who lives in bradenton i can tell you that even the apartments that were supposed to help with congestion were like 2100-2200 for a one bedroom at like 800sqft last I checked. For how much gentrification happened i hope some of those companies lose.
Agree with everyone, salaries in FL do not match the cost of living. People are living in their vehicles. I was looking for a studio and the rent was more than 100% of my take home paid. Most people I know are paying up to 80% of their take home paid on rent. They like me are caught between make too much to get any help but do not make enough to rent, so have to rent a room or live in your vehicle.
People, are Now leaving Florida due to Taxes, Insurance and New State Laws.
They aren't cutting the rental rates in south Florida
They didn’t believe us when we told them prices were going to be sliding, and now it’s literally sliding 🤣.
Still ridiculously overpriced though.
Renting is done for cause as soon as the price dropped by 15% more, people who still able to hold on to a job and have good credits are buying houses instead of renting.
Rental units are done for.
I rent from AMH. They are "as is" properties. They fix what they have to and leave the rest. These companies just want the money and nothing else. I'm also in NC.
Makes no sense. It would seem that renting versing owning in FL would make more sense given the high cost of insurance and other issues.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Lisa Annette Robinson, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes it I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Lisa Annette Robinson 😊🎉
Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
I cannot rejoice more from a news like this!! I own a house, but I do see the abuse and greed of some companies and investors that care only about profits. If this news is true then thanks be to the Lord!!
So you didn't actually watch the video. Lol
Not even NO STATE TAXES is enough to sell these houses.
🗣️DO NOT OVERPAY‼️
NO state income tax is worth pennies when you look at insurance and home taxes
There are no state income taxes. There absolutely are taxes in Florida, though.
@@AtB_Travel MEANINGLESS, FLA has super high other taxes like homeonwers insurance and tax on real estate. FAR overshadows the NO income tax, better off where you came from !
Don’t forget that rental income is INCOME…reported on your income taxes and those taxes are due quarterly, not when you file your annual tax.
Your employer collects your taxes during the year, and they go to the IRS. You do taxes once a year, and may owe some, get a refund, or have withheld exactly what was owed. The income from a small business or rental property is likewise supposed to be paid during the year, and reconciled on the annual tax form.
Talk to an accountant, or a knowledgeable person. Also check your state laws regarding rentals and taxes and insurance requirements.
how much it rents for is not related to value anymore .Due to speculation its how much will it be worth in 5 years .theres no positive cash flow anymore
My neighbor has over 10 single family properties in Naples, FL and just told me that they are worried because their tenants are moving out and they already have vacant properties.
That’s because the rents are too high. We have a housing shortage so there’s no way they should have a vacancy.
😂
Karma
Moving out? To where? The streets? If everything is so high where are they going?
@@peterm7596 Why would anyone want to leave paradise?
I paid $1600 on rent in San Diego in 2019 and that was expensive for San Diego standards. Now countrywide the rent is more than I paid in Southern California. Let me tell you what if these greedy corporations are going to sit there and think that people like you and me are gonna waste their time, effort and hard earned money to rent an overpriced apartment that’s not worth what they’re selling. They’re dead wrong and actions speak louder than words there are literally no tenets. No people can afford to rent it and a year ago when I talked about this, my phone would get blown up with comments, saying how I am the loser for not making enough money or how I am a loser but it’s very clear that they are all chat. GPT bots from China and I wasn’t chatting with real people because every time I mention that their bots and that they’re not real people, I says it anymore which makes it very clear it was just ChatGPTand I could guarantee after the elections over. It will all come to an end like nothing happened.
Wonder if you can ban corporate ownership of homes? Maybe limit ownership to max 5 units.
The more ho,es you own, the higher the taxes should increase.
I wonder if Hairspray high heeled Ron will do it?
Require a social security number to be tied to ownership of a SFH
It just needs to be ban. Corporations will just start other companies, under different names, so they can buy as many as they want.
@@StateAlchemist7 Good point !
I hope this is a wide spread thing across the US. I bought a house 20 years ago but if I where young I would refuse to rent from Blackrock and live in my car like a homeless person instead - as a protest. It should be illegal for giant investors to buy up all the houses. Politicians say "regulation" is bad- but they need to "regulate" the housing industry so people can buy homes again.
Mind you, these houses that are going to see prices plummet are in very non desirable areas. You won't see this type of action in Miami or Ft Lauderdale or Tampa.
We’re in the process of selling our house and looking to just rent for awhile. I have about ten single family homes I’m keeping an eye on while waiting for closing. All of them have had price cuts of $200+, or the landlord knew what was up and listed them a lot lower than last year right from the start. They’re sitting on the rental market for 30-60+ days in a really desirable suburb of Tampa, the market has really changed compared to a little over a year ago when I was last looking. I am glad my only options aren’t own a home or live in an apartment, that I do have the option to rent and have a yard for my dogs and no stairs or shared walls.
It's a con job. These corporate investors convince people to invest in their company, and convince them that housing will only increase in value, then when it goes down, the investors shrug their shoulders and say "oh well, too bad for you." Then walk off with whatever gains they managed to amass.
That is literally the definition of Capitalism, yes.
@@missmaryjanegreenand it needs to be abolished
@@codylujan it? Capitalism?
@@missmaryjanegreen yes. capitalism reinforces greed and corruption. It is an unskillful way of life.
@@missmaryjanegreenmove to Venezuela then
i have no sympathy for the landlords loosing money now that the housing bubble is popping now. Where im at 6 years ago you could get a 3BR/3Bath rental for $1100 a month without issue. Just to get that now you are going to pay $2400-2600 a month. Its insane and the only people affording these prices are those in the military who are temps here. But everyone else is having to move away where its alittle cheaper.
A lot of properties around me - old mobiles - have been bought up and renovated. I wouldn't trust the renovations to be solid and safe to either buy or rent. As a home owner, most of the damage to my place was done by inept "skilled" workman. On the surface, made it look good, but after awhile, the quality shows. For example, lights fall out of the ceiling, plugs come out of walls....I trust no one here in Florida. (Marion County)
When cost to rent vs. cost to own diverges wildly, eventually things will normalize. Can't maintain a large differential between the two without active government policy and spending.
Anyone else feeling the vibe like seeing Nick in Florida talking about the real estate downturn is like seeing Jim Cantore in your town right before the hurricane hits? A storm is brewing.
I can't wait to see Nick in the wind holding a microphone! 😂
The property taxes the real issue. Imagine buying your house for $60,000 and then having the local government tell you oh yeah you owe taxes on $250,000. It's absolutely insane taxing people on unrealized gains is nuts. Also people need to stop treating housing as a infinite money glitch. Corporations should not be in the business of making money off of people's ability to have a home. We need some federal regulation😊
You can always get a reassessment of value. Good to do if you feel like the government is screwing you, bad to do if your taxes are low.
@@LycanFerret My issue is when I buy my house for $60,000 in 2010 and you want to try to tell me it's worth $250,000 14 years later and it was built in 1978. It's just a fake number I should only get taxed at the price I paid
@@Riga352 That's probably due to where you live with greedy real estate investors fighting and artificially inflating home prices due to "scarcity". I know where I am, a very undesirable location, there are many homes that were built in the 70-90s and they are in fine condition priced around $50K-100K.
A lot of people, including my friends who own homes, have zero sympathy for the crushing rent increases in Florida. They just laugh and cite "supply & demand." But in Florida it wasn't simply supply & demand. A ton of people moved here from expensive states. They sold their inflated homes, or had six-figure pensions, or remote jobs paying high salaries. They easily outcompeted Floridians tied to wages in a service economy. There was greed all over. The influx people, to escape covid, had the cash to pay literally anything for rent. They wanted a place in the sun to ride out the pandemic. They'd offer landlords $600/month over asking price to grab apartments in places like South Florida. They came from "me-first" cultures and didn't give local Floridians a second thought. It was all about them. The landlords gladly took the money. I talked to many. Privately they admitted that they raised the rent so much "because they could." The governor wouldn't even impose temporary rent controls or make any arrangements for working Floridians. For political purposes he urged NYers to come on down. He excused himself by saying that he believed that no rent controls would help working Floridians because it would encourage new apartment construction and bring prices down. But, the new construction ended up being quickly and shoddily built "luxury apartments" aimed at transplants. Now the hurricanes are hitting, but I predict that once things clear up, affluent transplants will continue to pour in. Florida will be a state of wealthy people and their "servants." The latter will lived crammed together with roommates or multigenerational family, all working side jobs to stay afloat. No sympathy for these landlords. Never trust them again. They'll do it to you again when they get the chance,
Oh wow… it’s almost like that’s an unreasonable price for RENT! $2000…? That sounds like a price should be paying if I was owning a home. Not RENTING a home. It’s almost like that’s an unreasonable price.