This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
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
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.
I located her through google, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
Jared, I'm a realtor in Sarasota. You would not believe how many listings that aren't selling are being pulled off the market, with the intention of putting them on right before our peak season. We are going to have a shit ton of inventory when that happens. We already have over 5,000 listing active in Sarasota county.
I have a house down there (it's rented out, I'm in NE FL at the moment). Just received a notice our insurance is going up 120% at renewal in February and the prop taxes just won't quit, yet people still think they can get 2022 prices in an environment with 6-7% interest rates. We've been looking for a place up here to buy but people are just acting just as ridiculous and greedy, ignoring reality, so we are moving back down there next April. Stuck my $$$ into a HYSA and some metals for now, so I'm out and I hope the whole market turns into a giant smoking crater. I have zero sympathy for sellers at this point.
I'm not trying to bash anyone. I firmly believe in home ownership, but there are things I avoid. 1. Adjustable mortgages 2. Home owners associations. 3. Condominiums You can't control everything, but you must try to minimize your exposure to certain things. There's not much we can do about insurance (auto, health, home). It's criminal what these insurance companies have done to the people in Florida 😳. I'm planning on moving there (the Government, and the people have common sense in Florida) but some of these stories I hear are scary.
In the last 14 months I have replaced the roof, replaced bulkhead around pond, painted the interior and exterior of the home, pumped out both septic tanks, pruned the trees (way big trees) etc. I know I have spent north of $100,000. People you have to maintain your property, it ain’t free. To pay $350 or $500 monthly for condo fee and think you are taking care of your property is tantamount to believing in Santa and the Tooth Ferry. Sorry if I popped your balloons 🎈
And apparently many condo owners knew that repairs were needed but kicked the can down the road. So we're supposed to feel sorry for them now, at least that's what Jared is saying.
If homeowners have been paying hoa fees since the moment the building has been built what happened to the money? Clearly they haven’t been up keeping the building properly. Not sure how that falls on the condo owners now. Whoever is on the hoa needs to face the fire not the individual condo owners. The owners didn’t miss manage the funds the board did.
I have been completing reserve studies for over 15 years and now every 3 story and taller condo needs a state-mandated structural integrity reserve study completed and they legally need to fully fund their reserves so yes, the condo market will collapse.
Some difficult with all this news is condos that aren’t 3 stories or higher are getting lumped in all this mess. We don’t have some of those issues. Almost NOTHING is selling in Sarasota for more than $350,000
Great information. I’m a potential buyer in Central Florida. I’ve heard both sides from people like me and people trying to sell. Most sellers are still in denial or just referencing national data and not focused on what’s happen in the local area. Also, some sellers seem to have faith in the Wall Street firm’s to buy their homes when they’re ready to sell. But, always ask them. What happens when Wall Street and other private equity firms decide to stop buying single family?…
Thank You for breaking out the condo market..so many others are using raw data that makes it appear even single family homes are dropping...Pinellas/ Pasco HOUSES are still climbing ..slowly..but climbing..that 25% dive on condos really impacts things hard.
I’m in Ma owned condo ft Myers sold at height 2 yrs ago seen this coming. My spidey sense is up here they are building huge apartment buildings suburbs to the city. That tells you the next generation will be renters. Black stone division of blackrock bought up 47% of all homes in US. WEF plan in action
Funny you say that. I thought from the beginning, it was the beginning of squeezing the "non wealthy" out and scraping the old ones off and building new
What I believe will happen is the same thing that occurred after the housing crises of 2008. People that cannot afford the assessment fees will be forced to sell or lose their condo through foreclosure. Next, once the price of the building drops enough to be profitable to fix, people with money to invest will be invited to commercial property seminars to “get rich” by investing in condo properties. Then the 30 year process will start over again.
And New Yorkers paying over asking price as is while still working in New York and making New York wages isn't a factor? Rates could be zero and these houses would still be overpriced. And perhaps we should actually do maintenance.
NJ is coming out with new condo inspect and reserve rules that take effect in 2026. Bews just came out today. People had better start paying attention. Shore community will be hit f hard
It would probably help immensely for marketing those Condos if each Board would hire engineering consultants to certify the condition of the building and add a financial cost projection for likely, best case and worst case scenarios for future costs to buyers.
They are never going to fix them. They'll get the people out, demolish the building and build new, taller buildings with more units, and they will be rentals
Well, maybe Airbnb, and as a result, hotels and overnight options get cheaper for visitors to Fl. I can only imagine it sucks to be a “local” living and buying with all the investor market issues.
Complex issue …..my Aunt and Uncle sold their home and retired to a condo . Unlike most tenants they both attended the condo board meetings and were amazed that the main theme was keeping costs down and doing basic maintenance. My Uncle would speak up either pay now or pay later and nobody would listen to him . I guess he was proved correct .
Anytime a law is made that regardless the intention, causes regular people to have to leave their area, we should be suspicious. Surely those who made these laws should have known it would not be possible for many people to meet these money demands. And when it comes to FL, one of the lowest paying states in the Union, it’s especially true. This is why so many regular people bought second homes in FL, and did not live there permanently until the last few years. I am sure there are condo associations that did not do their job for years. But it’s not all, and yet, all will pay for this one way or the other. Even if it’s loss of equity and resale value, it’s still loss. And what will become of the HOA board that simply misused the adequate money they received?
HOA assessments in principle are ok for long term homeowners. It’s like doing a big maintenance project in your own home. The problem is people look at condos as speculation and those are the people I could care less for.
Buying a condo in Florida does not make any sense because your monthly payment consists of a fixed amount, which is the mortgage, plus three variables which are the property taxes, HOA and insurance. HOA and insurance have been increasing exponentially for the past 25 years and that's why many people who retired a few years ago can no longer afford to live in Florida. Even if the condo prices fall down to the point they were 25 years ago, the HOA and insurance will still keep going up based on inflation.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
Sorry to say I would never touch one of these. I don’t care who certifies it or how cheap it becomes. I know how much maintenance I do on my single family home all throughout the year. Can never imagine 30 years of neglect and salt.
Condos were based on a flawed business model and as they come of age, it's now clear they are a failed concept in home ownership. When a mortgage becomes an afterthought compared to all the ancillary costs, the model is broken and fatally flawed.
That’s what you get with de-regulation and giving over control of the states insurance market to corporations. The good thing about this is they will themselves collapse under their own weight
But the ancillary after-mortgage costs will bury you because they will soon dwarf your mortgage. In simple terms, you'll realize you didn't buy anything.
It looks Bad but for many it will be Good. Think of the people that want to buy (or rent) but the home prices are Stupid High, plus the interest rates. This makes rents go up as well. Good for young people looking.
They bought these condos decades ago and have not paid ANY maintenance costs. They could have voted to keep up the properties. They did not. Why should I feel sorry for people that voted to postpone maintenance on their own property? I do the maintenance on my house. It sucks. But I spend it.
I get you on the whole delayed investment and chickens roosting to some degree.. but imagine your grandmother is getting forced out because the central bank ruined the currency and drove the cost of everything through the roof to where all of her bills combined put her in a position where her entire future is now in jeopardy. Maybe have a tiny bit of empathy.
@@jaredjonesontv the grandmother is getting forced out because she delayed her maintenance bills for decades and they multiplied. That has nothing to do with the central bank. No one has EVER given me a break, exactly the opposite in fact. Please explain why I should worry about someone else paying their way? I'm sorry she has to find somewhere else to go, but she caused that. I have no duty at all to worry about fixing it. Is she worried about me enough to buy my new roof? No? Then again, why is her problem my concern? PS: you're talking about the same people that have always told me "just work harder" when I'm already kicking out roughly 4x the work (by the numbers) as people in my job did 40 years ago in their day. That was my problem. This is their's.
Talk about Florida. You don’t know what’s going on elsewhere. Shit happens. Don’t talk shit about California. We do have problems with high home values. But, just talk about what’s going on in Florida. Florida has its own terrible problems. Solve your own problems. Talking shit about California doesn’t make it any better for Floridians. Maybe, just maybe, people moved to Florida enmasse and Climate change is making it expensive to live in Florida. People love nice weather! Florida has really nice weather between hurricanes. But, it’s expensive to repair homes after hurricanes.
Lions and tigers and bears!!!! Oh my!! Florida prices Tripled in a few years. There is a correction now but Florida is still a great place to live and I think it’s odd that he spends all his time trashing Florida.
Sorry but those were terrible financial decisions even 15 years ago when these people bought these things, the builders cut every corner. dont expect me to feel bad that the chickens came home to roost. The whole state was a real estate scam to rip off northerners ever since it was indian territory
I did a condo deal on the ocean in 2022, Jax Beach, the hoa fees were beyond criminal, It took me 6 months to unload, I did make a good profit 40% return on my money, that being said, I'll never do one again unless I can acquire for 25 cents on the dollar. To much bull sh...t dealing with HOA , estopel letter etc.
As I sit here thinking about all the people who lived in their units for 20-30 years paying monthly fees to keep up the gym, pool, outside painting, lawn maintenance etc. Maybe it they think of it as rent all those years with no need to reserve for repairs and upkeep of the building they will feel better about selling it for whatever some will pay for it to get them off the liability of taking care of the unit. I feel sorry for the recent purchasers who paid good honest money for a crumbling old building. Possibly they can contact the last seller and demand some of their money back. Sounds like a class action some Miami shyster could start. 💩
You have no idea if NY isn't going to have the same issues in the future on some of their buildings if push came to shove and similar bills pass their state legislature.
I am glad that I DID NOT buy any of those older high rise condos near the ocean. Don’t buy anything old or in flood zones in FLORIDA, because even if you are able to get insurance on it, it will be outrageous. 7:29
Great news going to get worse when government doesn't care about the people's rights and think property going to last 😂😂😂😂😂 by the way I'm still going to keep my Florida residence and fight for the rights of the people 🎉🎉🎉🎉🎉🎉
This is the great steal. The developers wanted these properties to knock them down and build rich condos. People wouldn't sell. Now, your Governor has decided to change the laws and now the condo owners get nothing and the developers get everything. I bet he's invested in developers.
Sorry team.. New mic and the audio was much lower than I was hoping for.. Will get it sorted out for the next one. Please slap the thumbs up for me.👍
This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
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
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.
I located her through google, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
Jared, I'm a realtor in Sarasota. You would not believe how many listings that aren't selling are being pulled off the market, with the intention of putting them on right before our peak season. We are going to have a shit ton of inventory when that happens. We already have over 5,000 listing active in Sarasota county.
excellent news. at 50% of 2019 prices, it may be worth considering.
I just left Venice (March). Seems like that was the right decision.
I have a house down there (it's rented out, I'm in NE FL at the moment). Just received a notice our insurance is going up 120% at renewal in February and the prop taxes just won't quit, yet people still think they can get 2022 prices in an environment with 6-7% interest rates. We've been looking for a place up here to buy but people are just acting just as ridiculous and greedy, ignoring reality, so we are moving back down there next April. Stuck my $$$ into a HYSA and some metals for now, so I'm out and I hope the whole market turns into a giant smoking crater. I have zero sympathy for sellers at this point.
I'm not trying to bash anyone. I firmly believe in home ownership, but there are things I avoid.
1. Adjustable mortgages
2. Home owners associations.
3. Condominiums
You can't control everything, but you must try to minimize your exposure to certain things.
There's not much we can do about insurance (auto, health, home).
It's criminal what these insurance companies have done to the people in Florida 😳.
I'm planning on moving there (the Government, and the people have common sense in Florida) but some of these stories I hear are scary.
No mortgage , no insurance needed
Do what we did . Rent first
It's the the government who's allowing insurance to go out of control , lobbying politicians should be a crime
I think there is an effort to discredit Florida because of its success and desirability. This man devoted his channel to bashing Florida. Why?
The you can do something about insurance, it’s called RECALL
In the last 14 months I have replaced the roof, replaced bulkhead around pond, painted the interior and exterior of the home, pumped out both septic tanks, pruned the trees (way big trees) etc. I know I have spent north of $100,000. People you have to maintain your property, it ain’t free. To pay $350 or $500 monthly for condo fee and think you are taking care of your property is tantamount to believing in Santa and the Tooth Ferry. Sorry if I popped your balloons 🎈
And apparently many condo owners knew that repairs were needed but kicked the can down the road. So we're supposed to feel sorry for them now, at least that's what Jared is saying.
@@tomd5178 I mean, I'm sorry that it didn't work out for them, but I have no duty at all to do anything whatsoever for them. They're in charge.
That's $500 per condo but often includes water and cable and insurance. So actually maybe $200-$250. For roofs, maintenance, manager and painting.
Good luck sir.
Just depends on what the fee covers.
Audio is way low to compared to the rest of YT, kind of a pain but your content is worth it !!! Just letting you know...
If homeowners have been paying hoa fees since the moment the building has been built what happened to the money? Clearly they haven’t been up keeping the building properly. Not sure how that falls on the condo owners now. Whoever is on the hoa needs to face the fire not the individual condo owners. The owners didn’t miss manage the funds the board did.
Sadly I am one of those in a condo in Miami-Dade county and we are getting hit with assessments left and right!!!
Do you really expect us to feel sorry for people who overpaid for their real estate?
underpaid. they haven't paid anything on the accumulating maintenance costs. that's the whole issue.
Let's not be naive; you can equate that to greedy investors and not just monetary policy pushing those prices up.
I have been completing reserve studies for over 15 years and now every 3 story and taller condo needs a state-mandated structural integrity reserve study completed and they legally need to fully fund their reserves so yes, the condo market will collapse.
Some difficult with all this news is condos that aren’t 3 stories or higher are getting lumped in all this mess. We don’t have some of those issues. Almost NOTHING is selling in Sarasota for more than $350,000
Very well prepared and presented, Thank you.
You have the best breakdown of any real estate expert in all youtube
Prices need to get back to 2021 before leveling off and attracting buyers!
Way lower, we got to go back to 2012-2014 prices
Great information. I’m a potential buyer in Central Florida. I’ve heard both sides from people like me and people trying to sell. Most sellers are still in denial or just referencing national data and not focused on what’s happen in the local area. Also, some sellers seem to have faith in the Wall Street firm’s to buy their homes when they’re ready to sell. But, always ask them. What happens when Wall Street and other private equity firms decide to stop buying single family?…
Thank You for breaking out the condo market..so many others are using raw data that makes it appear even single family homes are dropping...Pinellas/ Pasco HOUSES are still climbing ..slowly..but climbing..that 25% dive on condos really impacts things hard.
My spidey sense was the Surfside thing was a planned event to add to this Tentacle of the "You Will Own Nothing" saga...
I’m in Ma owned condo ft Myers sold at height 2 yrs ago seen this coming. My spidey sense is up here they are building huge apartment buildings suburbs to the city. That tells you the next generation will be renters. Black stone division of blackrock bought up 47% of all homes in US. WEF plan in action
Funny you say that. I thought from the beginning, it was the beginning of squeezing the "non wealthy" out and scraping the old ones off and building new
I wish this problem would be in Miami. Everything is still sky high
Don't touch them yet. Wait until the prices are $250k - all the assessments before even thinking about it.
What I believe will happen is the same thing that occurred after the housing crises of 2008. People that cannot afford the assessment fees will be forced to sell or lose their condo through foreclosure. Next, once the price of the building drops enough to be profitable to fix, people with money to invest will be invited to commercial property seminars to “get rich” by investing in condo properties. Then the 30 year process will start over again.
And New Yorkers paying over asking price as is while still working in New York and making New York wages isn't a factor?
Rates could be zero and these houses would still be overpriced. And perhaps we should actually do maintenance.
NJ is coming out with new condo inspect and reserve rules that take effect in 2026. Bews just came out today. People had better start paying attention. Shore community will be hit f hard
It would probably help immensely for marketing those Condos if each Board would hire engineering consultants to certify the condition of the building and add a financial cost projection for likely, best case and worst case scenarios for future costs to buyers.
They are never going to fix them. They'll get the people out, demolish the building and build new, taller buildings with more units, and they will be rentals
I worry that this will make demand for single family homes go up and people let go of their condos.
Or rentals. Former condo owners have to go to some place to live.
If they can’t afford to keep up their condo they can’t afford a house…right?
Well, maybe Airbnb, and as a result, hotels and overnight options get cheaper for visitors to Fl. I can only imagine it sucks to be a “local” living and buying with all the investor market issues.
Thank you Sir. I just quit my job as an insurance adjuster. I know I did the right thing.
Complex issue …..my Aunt and Uncle sold their home and retired to a condo . Unlike most tenants they both attended the condo board meetings and were amazed that the main theme was keeping costs down and doing basic maintenance. My Uncle would speak up either pay now or pay later and nobody would listen to him . I guess he was proved correct .
Are the certification documents for a property reliable? Can a buyer depend on the information?
Anytime a law is made that regardless the intention, causes regular people to have to leave their area, we should be suspicious. Surely those who made these laws should have known it would not be possible for many people to meet these money demands. And when it comes to FL, one of the lowest paying states in the Union, it’s especially true. This is why so many regular people bought second homes in FL, and did not live there permanently until the last few years.
I am sure there are condo associations that did not do their job for years. But it’s not all, and yet, all will pay for this one way or the other. Even if it’s loss of equity and resale value, it’s still loss. And what will become of the HOA board that simply misused the adequate money they received?
HOA assessments in principle are ok for long term homeowners. It’s like doing a big maintenance project in your own home. The problem is people look at condos as speculation and those are the people I could care less for.
Buying a condo in Florida does not make any sense because your monthly payment consists of a fixed amount, which is the mortgage, plus three variables which are the property taxes, HOA and insurance.
HOA and insurance have been increasing exponentially for the past 25 years and that's why many people who retired a few years ago can no longer afford to live in Florida.
Even if the condo prices fall down to the point they were 25 years ago, the HOA and insurance will still keep going up based on inflation.
Stop scaring people.. You have said nothing positive
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Wow you give me hope
Am 49..am From Las Vegas…
Please how's that possible, I'm curious
Please how do i go about it, am still a newbie on investment trading and how can I make profit?
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
Hi great info
Would you ever do California market?
Sorry to say I would never touch one of these. I don’t care who certifies it or how cheap it becomes. I know how much maintenance I do on my single family home all throughout the year. Can never imagine 30 years of neglect and salt.
20 to 25% down is nothing when already up more than 100% in two years. Just a correction
This is why it’s cheaper to own a house with no HOA
Condos were based on a flawed business model and as they come of age, it's now clear they are a failed concept in home ownership. When a mortgage becomes an afterthought compared to all the ancillary costs, the model is broken and fatally flawed.
That’s what you get with de-regulation and giving over control of the states insurance market to corporations. The good thing about this is they will themselves collapse under their own weight
Audio is fine for me.
So, if you bought a condo 5 years ago, you're still way ahead. Selling price only affects you if you sell.
But the ancillary after-mortgage costs will bury you because they will soon dwarf your mortgage. In simple terms, you'll realize you didn't buy anything.
That’s bullshit about insurance rates in LA.
Jared, can't hear......wish I could.........😩
God, this is worse than Colorado right now.
It looks Bad but for many it will be Good. Think of the people that want to buy (or rent) but the home prices are Stupid High, plus the interest rates. This makes rents go up as well. Good for young people looking.
GREAT VIDEO💪❤ Hoe y0u can do some NE Florida videos too JAX area and above ⁉ On Condos, home etc..
905 of Naples is in Collier not Lee …
They bought these condos decades ago and have not paid ANY maintenance costs. They could have voted to keep up the properties. They did not. Why should I feel sorry for people that voted to postpone maintenance on their own property? I do the maintenance on my house. It sucks. But I spend it.
I get you on the whole delayed investment and chickens roosting to some degree.. but imagine your grandmother is getting forced out because the central bank ruined the currency and drove the cost of everything through the roof to where all of her bills combined put her in a position where her entire future is now in jeopardy. Maybe have a tiny bit of empathy.
Absolutely right. Can't feel sorry for these owners
@@jaredjonesontv the grandmother is getting forced out because she delayed her maintenance bills for decades and they multiplied. That has nothing to do with the central bank. No one has EVER given me a break, exactly the opposite in fact. Please explain why I should worry about someone else paying their way? I'm sorry she has to find somewhere else to go, but she caused that. I have no duty at all to worry about fixing it. Is she worried about me enough to buy my new roof? No? Then again, why is her problem my concern?
PS: you're talking about the same people that have always told me "just work harder" when I'm already kicking out roughly 4x the work (by the numbers) as people in my job did 40 years ago in their day. That was my problem. This is their's.
What a mess wouldn't live there even if was different I won't even visit any more
🎉🎉 Low volume on podcast audio
Let me know if any investors who bought during the speculation frenzy need to sell? I’m happy to help you out. Especially if you’re from NY or NJ.
Audio was bad but I just plugged in the earphones.
BAIL OUT THE CONDOS!!!!
DeSantis held a roundtable yesterday and plans to re-tweak/amend the condo laws again
Talk about Florida. You don’t know what’s going on elsewhere. Shit happens. Don’t talk shit about California. We do have problems with high home values. But, just talk about what’s going on in Florida. Florida has its own terrible problems. Solve your own problems. Talking shit about California doesn’t make it any better for Floridians. Maybe, just maybe, people moved to Florida enmasse and Climate change is making it expensive to live in Florida. People love nice weather! Florida has really nice weather between hurricanes. But, it’s expensive to repair homes after hurricanes.
Sounds like a lot of bullshit, young man. Keep talkin
Lions and tigers and bears!!!! Oh my!! Florida prices Tripled in a few years. There is a correction now but Florida is still a great place to live and I think it’s odd that he spends all his time trashing Florida.
Sorry but those were terrible financial decisions even 15 years ago when these people bought these things, the builders cut every corner. dont expect me to feel bad that the chickens came home to roost. The whole state was a real estate scam to rip off northerners ever since it was indian territory
Get ready they did it with health insurance now there coming for your house leave American
I did a condo deal on the ocean in 2022, Jax Beach, the hoa fees were beyond criminal, It took me 6 months to unload, I did make a good profit 40% return on my money, that being said, I'll never do one again unless I can acquire for 25 cents on the dollar. To much bull sh...t dealing with HOA , estopel letter etc.
40% return in less than 2 years. Must be a lot more to that story
@@WilliamBruckert 2020 to 2022 was the bubble. sounds pretty straight forward.
Alot of false info here please do your research befor action based on this
Condos ain’t cool
They are going to have to start selling cocaine again 😂😂😂 you always pay for that which is wrong. Bottom line Miami was built buy cocaine.
True statement and everyone including inspectors were paid off in coke and cash
We may see pre-Covid Plandemic pricing by the end of 2025.
As I sit here thinking about all the people who lived in their units for 20-30 years paying monthly fees to keep up the gym, pool, outside painting, lawn maintenance etc. Maybe it they think of it as rent all those years with no need to reserve for repairs and upkeep of the building they will feel better about selling it for whatever some will pay for it to get them off the liability of taking care of the unit. I feel sorry for the recent purchasers who paid good honest money for a crumbling old building. Possibly they can contact the last seller and demand some of their money back. Sounds like a class action some Miami shyster could start. 💩
i rather retire at New York City then Florida at least NY isnt rubbing you for your condos ... Florida is a JOKE !
You think so 🤣 Mirgants on the street and in political office... Sounds heavenly 🤪
You have no idea if NY isn't going to have the same issues in the future on some of their buildings if push came to shove and similar bills pass their state legislature.
@@jaredjonesontv I have lived in NYC and it SUCKS ! and I can afford to live ANYWHERE I wish... That comment is partisan crap !
@@LJ-jq8og at least NY dont screw you like florida. Good luck selling your property
I am glad that I DID NOT buy any of those older high rise condos near the ocean. Don’t buy anything old or in flood zones in FLORIDA, because even if you are able to get insurance on it, it will be outrageous. 7:29
Great news going to get worse when government doesn't care about the people's rights and think property going to last 😂😂😂😂😂 by the way I'm still going to keep my Florida residence and fight for the rights of the people 🎉🎉🎉🎉🎉🎉
This is the great steal. The developers wanted these properties to knock them down and build rich condos. People wouldn't sell. Now, your Governor has decided to change the laws and now the condo owners get nothing and the developers get everything. I bet he's invested in developers.
Nonsense
You have the best breakdown of any real estate expert in all youtube