Major movements happeing in Florida's housing market right now. Inventory spiking to highest level in 10 years in some cities. Price cuts out the wazoo. Track what's happening in your city and ZIP code on Reventure App: www.reventure.app Note: despite this initial declines in Florida, values are still near all-time highs in many markets.
Homes in Florida have been way overvalued for the past 20 years. Prices can come down 50% or even 60%. Then we're going to see a little stability in the market.
So is this reventure website that you're selling sort of like true car or something that tells you what a home should be valued at? Does it show an up to date average price per square foot for single family homes, condos, and townhomes or just single family?
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
My CFA Annette Marie Holt , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
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!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
To my own research In 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.
Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
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.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
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
Melissa Terri Swayne is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.
When someone buys a Florida house for $10 million, and then tries to flip it for $38 million, I have no pity for him if he can't sell it for 50% off his asking price.
@@ruffleschips9055 unfortunately, it’s mostly not a “him”. It’s an international conglomerate of covert investors, such as BlackRock. 20-25% of residential housing in the USA has been flat out given to these un-named & unaccountable foreign & domestic entities via WallStreet middlemen. These packaged financial systems are funding our parents and grandparents via investment portfolios. Collectively, they are taking care of themselves and pulling up the ladder for everyone that has followed them. Never-mind the obvious influence of the US political parties and certainly the US Supreme Courts decision relative to Citizens United. I believe in higher laws/powers, guided by Divinity. We are overdue for a rebalance. The opportunistic that chose greed over the collective wellbeing, will be held to account. It has been historically proven. Despite Religion. Race. Geography. Gender. Politicians. $$$$. We are all in this together. God Bless…the experience of existing as a human being 💜 ☮️ In other words, Siloed egos power trips, equate to zero for all
South FL houses appreciated double or triple fold since pandemic. A lot of people might have borrowed against available equity with their home as collateral. The house prices are now rapidly going south! What will bank do now?
This was exactly why my wife and I sold our house in Florida to move to Texas. I invested some of the money from the sale in the stock market. The portfolio is up 300k this year. I guess she knows the investment is making profit, but we've never really spoken openly about it. It's one of the best choices I made.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
*Marissa Lynn Babula* is the licensed fiduciary I use. Just research the name. You’ll find necessary details to work with a correspondence to set up an appointment.
It doesn't help that Redfin and especially Zillow are posting numbers that are waaaay out of touch with reality. Still saying prices are up big in places where they have been declining for well over a year.
I grew up in Saint Petersburg, FL. Graduated h.s. here in 1983. My rent has gone up sky high since 2020. I was planning on buying a house in 2021. Forget it. All the houses were bought up in cash, companies bought a big majority. People from California & New York Were paying over the asking price Forget it if you needed a loan. Rent is outrageous . My rent has gone up 45% since 2022. Ridiculous
@@MM-kf3gq It is. It’s booming up here. I definitely like it better than FL. The weather is in the high 70s now, we have mountains, beaches, cheap car insurance and fall is to die for. I think having 4 distinct seasons is so much better than sweating 9 months out of the year.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Jessica Lee Horst" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
It used to be alot more affordable, but the housing prices are just ridiculous now. Wages have increased, but not enough to keep up with the prices for most folks. You should be ok if you purchased a home between 5-10 years ago. For potential buyers that can afford it, I would wait until the rate cuts come back, or start making lower offers.
The 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 Tampa 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?
Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.
I concur; I've been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.
I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 13 years of experience is certainly striking! very much appreciate it
I moved to KCMO a few years ago ,I’m a new mum and I'm weighing my options: should I invest in a single-family home despite soaring real estate prices, or would it be wiser to put my money into stocks and wait for a housing market correction?
Some AI companies might be overvalued and cause a market downturn. Consider a managed portfolio, but even those have limitations. It's best to consult a financial expert (like we did, and earned $738k in Q4 last year) to get personalized guide
Glen Howard Chester 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.
Woah for real? I'm so excited. Adriana's catherine strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
In Scottsdale, my car insurance went up 50%, my home insurance up 35%, price gouging for sure. I will self insure before I pay these prices for insurance.
I have a friend who is super savvy with real estate--and art! She got a great pool home in Naples before the market rose, and she paid $300k. It doubled in value in a matter of 5 years. I visited and loved her place. She took me to a Good Will and a Habitat For Humanity store that sold used furniture. You cannot believe the quality of things for sale in those places. My friend told me that wealthy women in Naples redecorated every year or two leaving prior fabulous furniture at these consignment shops. My friend also studied art and found pieces worth several thousand dollars each (she recognized the artists' names) at these local shops!
That’s everywhere. I do that for a living. I flip things I find in those place and resell them. Not too unusual to find high end clothing, accessories, in those places. You would not believe what people give away because they are too lazy to sell it themselves. 😊
My friend goes to estate sales, garage sales, goodwills and has an amazing eye for things of value. It’s his side hustle. he buys things for dollars and sells for hundreds routinely. I think his record was a small tea cup or something like that he got for $1.25 at goodwill and sold it online for $1500. Cool hobby.
@@shanerogers9386 I buy designer clothing at these places. One year close to the holidays there was a long line; so I stirred up a conversation with the woman ahead of me. She told me she put her daughter through law school ... by finding things of value at those types of places and selling them for a lot more on Ebay, etc. It's a good side hustle if you're good at logistics.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
@floridad4717 not better than Ohio, I was making 32 an hour, same job here wanted to give me 12. Food is cheaper, taxes cheaper homes cheaper insurance cheaper. Who cares if you don't pay taxes when everything else is 4x more
@@Tater-Skinz Yes it is. Something that doubles in price only needs to lose 50% to get right back to where it was. Can it go more than 50% down? probably in some places, but 50% is a catastrophic crash in anyone's book.
It's going to have to be more than that. Prices were up more than 300% in many parts of Florida. A 50% drop would mean they're still 150% too expensive.
Insurance that was $2,500 now $7,500 w flood insurance becoming mandatory for many/most homes over time. Currently 25% of flood claims are OUTside flood zones.
Im from Ocala, I was very interested to see if and where we would land. So way overpriced here, a big fall coming. Im in mobile home development in which prices more than doubled since 2020 and nothing is selling other than land.
I read another article, where Ocala was, one of the top places people are moving to. I remember as a kid Ocala to Orlando was nothing but orange groves. Nothing but houses now.
@TT-hv8bx I want to move their next year. I've been paying attention to the rent prices there for 3 years now, and they are definitely gotten higher even for old homes.
My parents sold a house just south of Ocala last month and it had multiple offers within the first couple of days. I was shocked. There is a lot of new development going on, new neighborhoods, and that may account for the huge increase in inventory. Personally I think people are moving here because it's cheaper but it's cheaper for a reason.. it's so hot and miserable during the summer. On the coast you at least get a breeze, It's hotter in the summer and colder in the winter in Ocala.
I had trouble understanding trading in general. I tried watching other YT trading channels but they made the concepts more complicated. I was about to give up until I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow.
Those highest inventory are where recent hurricanes hit it very hard, destroyed and flooded everything ! Ft. Myers beach, Cape Coral, Naples and east coast as well. Lakeland is a ghost town and over all Florida has the same wages 25 years, nobody can afford to live there with high prices and so little paycheck !
Why do people talk about wages as a limiting factor for FL real estate? Most of the folks moving down are retired people with money. They are not working, they have investments and/or a pension, and probably sold a home up north.
Yes it is crazy, I just retired and left Apopka, Florida. In 2016 I bought a 1200 sq.ft. home for $165K,.... today it is on Zillow for $368K. Everyone in the world wants to move there. How in the hell does everyone know about this little town?.....And everyday a big traffic jam on 441. In the 1960's they used to have signs at the city limit that said that it was the indoor foliage capital of the world because of all the Nurseries. But most of them sold off and are now sub divisions. Most of the yards are pure dirt, even with sprinkler systems due to the bugs. It takes about an hour to get anywhere, even with all the toll roads. I moved to a little town in North Alabama, Dora, which is small, like Mt. Dora in Florida.
Corporations using algorithms to find the lowest priced real estate everywhere in the country is my guess. Blackrock is buying up entire neighborhoods in Florida to rent out.
@@tomlewis632 a small town in Alabama sounds so refreshing in comparison, congrats! Growing up in Florida, our family vacations were road trips 2X a year to visit grandparents in Mobile, Anniston & Birmingham. You’ve made good decisions
I'm in Apopka. Still very nice but for sure the insurance is the biggest problem here. Unfortunately this is all planned and will eventually reach everyone. The middle class is almost doomed. The only saving grace for you is that you are retired. I have a couple more years to go and praying that I can hang on. By the way congrats to you on your move.
@@tonyh4513 Yes I fought with State Farm Several times. Then they stopped offering coverage for homes. Only cars. And none of them will issue you insurance while there is a tropical storm or hurricane developing near. You have to wait until it passes. So make sure you are covered before the season hits.
Can understand the move, been telling the wife we need to move North of Ocala to get out of the crowd myself. I remember when driving to MT Dora was mostly a 2 lane road and now 6 lanes isn't enough. I feel sorry for the long term residents of that area. The Villages sprung up from 0 in the 80s, to over 300k now.
Current resident of Jacksonville Fl, I can tell you now, home prices and rents are going to go full fire sale next year. The job market here does not support the prices and the price to sqft ratio + Deposit/Fees and needing to make 3 times the rent has many homes sitting for months with 0 applications. The corporations that own these homes like Progress and First Key are doing their best to not lower the prices by much, but that just means they will sit vacant. For mom and pop landlords, many aren't keeping up with the current trend, and are trying to charge outrageous rent prices, and when no one bites within a month of listing, they then put it up for sale which no one is buying. People simply do not have the money, not with a median income of $35k and household of $64K.
If I am interested in the areas just north of JAX up to the Georgia state line, but staying in FL for tax reasons, what do you think about Hillard and Yulee and all those places above Jax ?? Thanks !
I will believe it when I see it. Houses on the beaches side have practically doubled in the last 4-5 years. Just looked at a 2000sq ft house that was last sold in late 2015 for $433k. Now on the market for 1.175 million. Lots of buyers with tons of cash.
@@LJ-jq8og Once unemployment crosses 8.250 Million, you'll see the start of panic in housing and inventory start to skyrocket. If you're looking to grab a house, wait until unemployment stops going parabolic and starts to even out
@@dingodave1238 Now how many of them are actually selling? Doesn't matter how much it list. 2015 buyers aren't 2024 buyers. One came right out of a crash, another is going right into it. Drop the address of the place if you dare so we can see if they cut the price $5,000 multiple times.
I read about and heard stories about the boom and then bust of Florida real estate in the 1920s. Interesting, 100 years later, the exact same things have and are happening in Florida now. The 5 reasons for the Florida bust of the 1920s according to a site I checked are: 1) Those who made lots of appreciation on their properties sold, thus taking their profits. 2) Negative stories about the expense of Florida land/home ownership were appearing. 3) Fewer buyers were interested in buying Florida properties 4) A horrendous hurricane and severe storms made the area less desirable. 5) Lastly, the stock market crash of 1929 destroyed the wealth of nearly all formerly potential buyers.
Thanks for keeping it real. No one believed me when I kept telling them Florida's housing market was going to crash, my parents included. I've been watching you for years, the data doesn't lie. The time has come, the money has dried up, time to pay the piper.
Median Florida salary is about $60k. Even if-when housing crashes, it won't be to an affordable price, for the average Joe, making $40,000. Prices would have to be under $200,000.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I'd like to add, that looking at large metro areas gives a very broad view of the market. Taking it down to county is even better, but the best is by town and/or zip code. Also, the type of house (condo, single family, multi-family) is also something to look at. I pay attention to all of this to determine how our property values are doing. Everything is local!
A lot of the Florida inventory spike is due to condos flooding the market. The condos were required to catch up on HOA fees which has caused massive fees. Freestanding homes are still rising in price.
@@scottgriffin2005 Unfortunately, yes in many areas of Florida, particularly South Florida. That’s why I said a lot but not all. I see in another comment you gambled and sold your home to cash in on a potential correction. I truly hope it works out for you.
I am a current florida resident, and I approve of that message. The client list of those high income residents that you mentioned is missing the illicit drug business and cartels, which contributes enormously to the Miami housing market.
Sold my townhome in Tampa last summer. I purchased right before the pandemic. Prices were already dropping last year from the 2022 highs. Im waiting and will buy again as prices drop more.
I live in Port Saint Lucie and the prices are 50% over at minimum of what the local economy can support! The only people buying here are from out of state or from the south. We are set for a major crash!
@@larrymann1272 I’ve noticed that most of the people buying and moving into the new construction are “work from home people” ie from out of FL. Or people that are stacking up 2-3 generations or family in the same home. I literally drive these communities with job everyday and there are way too many cars in the driveway from 10:00-3:00. Once the work from home collapses, PSL housing collapses. People aren’t retiring here because it is cheaper to stay where they are at. Plus taxes are ready to go up again.
@@larrymann1272 I work in the industry and there are hundreds/ thousands of units going in, rentals and for sale. I just can’t imagine how locals can afford to keep this market flowing. We don’t make enough to put a dent in a mortgage payment for these prices. I make a decent wage for PSL and I can barely afford to rent an apartment for my family. Out of state money only goes so far before the market collapses and the state government realizes that the people drive the economy, not big money moving in.
@@BradleyJ_FL Same here in Palm Bay, new homes that can’t sell are being rented, plus brand new 4 story apartment complexes ( wood framed) just being built 1 mile from my house
Sold my house in Land O Lakes FL (just north of Tampa) for $545K in October of 2023. Zillow estimated value of that house is now $528K. I'm glad i got out when i did!
Port St. Lucie is getting hit hard three times. As you mentioned they are the highest overvalued city in Florida, which is especially brutal as they also have the highest property tax rate in Florida. A few years ago FEMA completely rewrote their flood maps, with Florida receiving the greatest increase in flood risk and rising premiums, especially along the coastlines but not all areas were affected equally. Port St Lucie was given the highest rate increase in the entire nation, about a 300% increase compared with 2020 rates. I’d argue those 3 factors push Port St Lucie up the least affordable list, putting it on par with cities with much higher average housing prices.
Just like the flood maps, there seems to be other delineations within PSL. West of 95 may be taking on a different tone than east of 95 and coastal PSL. Most of the new builds and higher prices seem to be mostly west of 95. Brand new construction with the latest hurricane materials will cost more thus higher home prices. The older homes more towards the coast are similarly priced as new builds or just a bit less and this is where I think the price adjustments will take place. People coming down from the northeast after selling their overpriced homes can easily afford the higher prices new builds and have no mortgage. Even if there is an adjustment with new builds, those adjustments would have happened up the northeast, too so it's kind of a wash. Buy a home to live in and enjoy. After a lifetime of the northeast grind, boring is looking pretty good.
We live in the Cocoa Beach area. The new home building has stopped (thank God), existing home sales have slowed down considerably, but the values have not dropped too much. We bought our place in 2021 for 380K and it’s now still worth about 590K. 10 minute walk to the beach.
Congrats on making it on yahoo today! Super proud of you and self that we saw and informed. I saw too many families in 2008 being kicked out of homes with children misplaced. Most of it is self induced but there are still plenty of unaware individuals.
The home prices has come back that way it was 2019 a 3 bedroom and 2 bath already fixed was for $150,000 But when the pandemic starts the same house now is $350,000 Is unbelievable crazy
Hope so, given what happened in Laurel Meadows from Debbie. It would take type of correction to make buying logical given hoa fees and insurance absurdities, not to mention future climate impacts.
The 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.
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague
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 just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
I can sum this up in one sentence. Drowning in information and starving for wisdom. There is no national real estate market, there is no state, county or city real estate market, there is only a neighborhood real estate market. Your analysis is equivalent to saying “my head is in the freezer and my feet are in the fire, on average I feel pretty good.” You may try adjusting for seasonality, population growth, product type, etc. Comparing average list price drops is ridiculous given how people often price things way too high…just see. I could go on and on and on.
That hurricane didn’t stop anyone from pouring in here. More ppl moved down here after Ian than any other time. Fla over priced and built itself. Im so hear for the downfall
I completely agree with you and further it was obvious mid 2021 that this was going to happen. What is it about history in the FL real estate market that people don't get? Coming from the Palm Beaches I can tell you that once the investors start pulling out of an area the entire game will easily go from positive to negative in a NY minute.
I was just in Venice (Sarasota county) checking out new homes and found that the HOA fees are friggin expensive ($460/mo in one particular community). For that amount they take care of your lawn and you get to use their clubhouse with a nice pool. They also charge you a one-time HOA contribution of $5,600. Of course there's the usual CDD and property tax. So they fee you to death to live in Florida before we even talk about home owner insurance, flood insurance, and hurricane insurance. Sure, the beaches are nice but I'll stay out of Florida because of these expenses.
Thats cheapc😂. Average is 780-905/mo. in Cali you can live in a manufactured home, a upgraded 2000+ trail park, for 275k 2000 sqft but now pay for the land rent which is 2200 to 4600/mo!!!
Those areas have been invaded by people from the northeast coast and California. The attitude of the people are not as nice as they used to be. Very aggressive driving, rude attitude and a self-serving mentality.
Actually when compared to the northeast $460 for an HOA is not anything out of line and for that money you will likely get far more in amenities in Florida. In Jersey my HOA was $400 with a pool the size that would be average size for a private single family home. Some of these Amenity centers in Florida are 30 thousand square feet with indoor basketball courts with resort style pools with a poolside bar and grill.
Insurance is a major problem all over Florida. My agent told me they're struggling to get policies for anything built pre-2021, and modulars more than 2 years old.
This is not true. We built in 2017 in NE Florida and we had no problem getting home insurance just a month ago. We are three miles to the coast as a crow flies.
Great stats and info. Appreciate the amount of work that went into the video. I do have an issue with lumping St. Pete. into the Tampa area or even Clearwater area. Not only are the three Ls paramount, look at new construction vs existing homes in this area. Perhaps the lowest inventories of new homes anywhere in Florida due to geography. Builders are still getting a premium.
Thanks for all the helpful data. I'm from Orlando and I've been holding out which has been hard but prices are so crazy. I'm an engineer and my wife's a nurse, no kids, and the top end of our budget gets us a crappy house here. I just can't justify jumping in at these prices. It's good to know things will likely get better and I'm better off waiting
Finally! I have been watching your videos religiously for many years now. I’ve been waiting to buy a house. Finally some good news. Greetings from Jacksonville and keep up the great work.
Question: Are these home statistics combining condos with single-family homes? The huge increase in condo fees IS creating a flood of inventory. But the same price depreciation may not apply to single-family stand-alone homes. Please clarify.
Single family homes are facing downward pressure too from escalating insurance costs/inflated property taxes. AirBnBs profilerated many SFH neigborhoods. As inflation eats away at disposable income (and AirBnB fees and cost of carry increased) many of those short term rental homes became unprofitable (now becoming part of the rising inventory for sale for those who can't find long term renters who can help the owners cover the cost)
Can you do a video on Loudoun County VA? I would love to hear your take on what's happening here. This is a tech sector area. Lots of software companies have stopped hiring and even let go of people in the area. Yet the housing market is still ridiculous. I would love to see the correlation between the two.
I wintered in Polk county last year and it is overcrowded with migrants and retirees. The lakes make improving congested road conditions difficult. Builders are over building, I could not make a left turn out of my community but a quarter mile up the road some company was building 400 apartments or condos.
I am in North Florida and like others, waiting to see how things play out since nothing is affordable south of where I live. The problem is that even if prices do become affordable, it won't change the following: 1. Hurricanes are coming more often, and South Florida is flat when it's not on the water 2. Insurance costs are insane 3. Condos that might have been affordable carry such high HOAS that seniors on a tight budget can't afford to live in them 4. It's so hot!!!!
Miami Dade property taxes are way higher than California. Of course, in California you are protected by Prop 13. But Miami Dade's property appraisal goes up and up every year, causing rents to be sky high. Absolutely ridiculous
This guy has been warning for years but prices keep climbing. Just like stocks, fundamentals matter, but price is most important. Unless there is a major depression event, prices retracing only 20-30% after quadrupling is not a big deal
@@froc7128 Do you think things happen overnight? Especially with the Government giving out trillions of dollars in stimulus. Sales are at 2010 lows, inventory is rising, wages are now stagnant or dropping, and unemployment will continue to rise as companies continue to try to show profits in the market. Also, credit usage is at an all time high. This market has been artificial for years. The fed can't continue to stimulate the market because of inflation. We have had about a year of high interest rates due to monetary tightening by the Federal Reserve. People have no idea how bad it is because of govt. intervention. Why do you think they keep dumping more Govt. programs for first time buyers? Because investors have stopped buying and the little people can't afford it. Again, manipulating the market.
Will it crash 50 percent or correct 50 percent? That actually still seems severely overvalued in many areas when you think about the fake values colluded up by out of control flipping and investing.
A Florida Native, thank goodness baby boomers are set to retirement peaks between 2024-2030. Along with the recent DOJ announcement corporate landlords using Algorithms keeping rents artificially high. Eventually this all will lead to more affordable FL, if it wasn't by Ron Disantis helping the insurance and developers make sure they are in his pockets. He took away the 30 percent rule for roof replacement which causes more litigation after each hurricane
I’m currently purchasing a townhome in Ocala, it’s not too expensive and needs updating, but structurally in great shape, I am also getting the seller to replace the roof and wood siding on it. I think even if the housing market crashes, I will still be fine as it is not one of those big houses that are way over valued, it is on the lower end of homes in the market right now. I am waiting until later this month for rates to drop so I can lock in my rate though. Hoping this all goes well and that this is a good investment for my first home. 🎉
Life long floridian, leaving when my house sells. The traffic is unbelievable, quiet little beach towns no longer exist. To many new yorkers retired here. I'm so tired of hearing "well NY has the best...", go back if it's so much better. The house I am in was $175k brand new 5 years ago and now it's allegedly double? Meanwhile it's already falling apart. Also way to many foreigners who illegally crossed.
Thank you! Can’t stand when blue staters move to a red state and complain about everything. This place use to be my dream now it’s literally my worst nightmare. I want to move out to the desert in AZ at this point
so move!! You sound like one of the whiners you complain about. NY does have the best....Free medical, free college educations, high paying jobs, but it's freakin cold there!!
They won’t if they can’t get renters, because they still have to pay taxes, upkeep, and insurance on empty homes. That’s a loser for corporations, and they will sell under what they paid.
When I bought my 1st house in 1990 their interest rate was 10% interest rates go up and down all the time. I refinanced in 1996 and refinanced again after that. The economy never been better than it is right now. Interest rates will come down again.
We just got home from my wife's medical jobs interviews in Kentucky and Missouri. They just offered her the job today at Kentucky and she's waiting for Missouri to write back. They pay her more than she gets paid in Orlando and the cost to live there is easily half. We have become stretched for money and we said enough was enough. I think we will be putting our Kissimmee home on the Flooded market in the next 3 months and bugging out. My wife said she's taking the Kentucky job if the MO job doesn't pan out but we're leaving one way or another. They can't get medical doctors to move to those smaller towns so they pay tons to live up there. Home insurance here and Car insurance has gotten insane. If we can literally save 15k a year on insurance alone by moving and we can double the size of the home for generally the same price, we are gone!! We are scared it won't sell though because the market is currently flooded here in Kissimmee.
Yes . All this " experts" are full of sh@it . I know one day real estate prices will go down , but it has nothing to do with their predictions that take many years to happen😂😂
Major movements happeing in Florida's housing market right now. Inventory spiking to highest level in 10 years in some cities. Price cuts out the wazoo.
Track what's happening in your city and ZIP code on Reventure App: www.reventure.app
Note: despite this initial declines in Florida, values are still near all-time highs in many markets.
How about Brevard county Florida space coast specifically Melbourne, Palm Bay, and the beaches up to Coco Beach
Homes in Florida have been way overvalued for the past 20 years. Prices can come down 50% or even 60%. Then we're going to see a little stability in the market.
dude wtf happen to your left eye being lower than your right eye?
@@TheBirdmon17 lmao! I did not expect this kind of comment...
So is this reventure website that you're selling sort of like true car or something that tells you what a home should be valued at? Does it show an up to date average price per square foot for single family homes, condos, and townhomes or just single family?
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA Annette Marie Holt , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
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?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
To my own research In 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.
Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
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.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
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
Melissa Terri Swayne is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.
When someone buys a Florida house for $10 million, and then tries to flip it for $38 million, I have no pity for him if he can't sell it for 50% off his asking price.
zero pitty, it's just greed.
Right. The country is getting real sick and tired of all these wannabe "hustlers" and home flippers.
@@ruffleschips9055 unfortunately, it’s mostly not a “him”. It’s an international conglomerate of covert investors, such as BlackRock. 20-25% of residential housing in the USA has been flat out given to these un-named & unaccountable foreign & domestic entities via WallStreet middlemen. These packaged financial systems are funding our parents and grandparents via investment portfolios. Collectively, they are taking care of themselves and pulling up the ladder for everyone that has followed them. Never-mind the obvious influence of the US political parties and certainly the US Supreme Courts decision relative to Citizens United.
I believe in higher laws/powers, guided by Divinity.
We are overdue for a rebalance. The opportunistic that chose greed over the collective wellbeing, will be held to account. It has been historically proven. Despite Religion. Race. Geography. Gender. Politicians. $$$$. We are all in this together. God Bless…the experience of existing as a human being 💜 ☮️
In other words, Siloed egos power trips, equate to zero for all
South FL houses appreciated double or triple fold since pandemic. A lot of people might have borrowed against available equity with their home as collateral. The house prices are now rapidly going south! What will bank do now?
How about if he sells it for 1% of his asking price? Are you cool with that?. That's still $380, 000, 000.
This was exactly why my wife and I sold our house in Florida to move to Texas. I invested some of the money from the sale in the stock market. The portfolio is up 300k this year. I guess she knows the investment is making profit, but we've never really spoken openly about it. It's one of the best choices I made.
Wow, that's a good ROI. You trade or you have been holding all this while?
Oh no, I don't really trade. Too complex and random for me. I work with a financial advisor.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
*Marissa Lynn Babula* is the licensed fiduciary I use. Just research the name. You’ll find necessary details to work with a correspondence to set up an appointment.
Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.
I love how you mentioned that in Tampa/St.Pete that people are unaware of prices retracting. It's so true, people exist in Lala land here
For real. I get called Chicken Little and Bubble Boy when I mention that we're due for a crash here.
@@matt243Same here
It doesn't help that Redfin and especially Zillow are posting numbers that are waaaay out of touch with reality. Still saying prices are up big in places where they have been declining for well over a year.
St. Pete was always a strange RE market
@@matt243 lol
I grew up in Saint Petersburg, FL.
Graduated h.s. here in 1983.
My rent has gone up sky high since 2020.
I was planning on buying a house in 2021.
Forget it.
All the houses were bought up in cash, companies bought a big majority.
People from California & New York
Were paying over the asking price
Forget it if you needed a loan.
Rent is outrageous .
My rent has gone up 45% since 2022.
Ridiculous
What do you do for work? 41 years later and you never bought a house?
My rent is up in Tampa $650 more per month in the last 4 years, it used to go up $35-50/yr
That would be called inflation. Biden inflation
@@kjay5056Had the same question.
Get out of FL while you can. I can't sell my house in Punta Gorda due to all the inventory so I'm stuck !
Prices doubled so a 25%drop would be a correction.
Another 25% would bring back affordability after taxes and insurance returned to normal.
insurance will never return to normal. they don't give up that cash cow.
@@freedomoffgrid82jew activities
* another 50% percent drop 😉
@@freedomoffgrid82 most major home insurance companies won't even cover you in FL anymore. At least in Central/South FL. Too much risk.
@@gary9080 I remember seeing a few places sell 75 percent off in boynton beach after that last one burst.
Sold my house 3 months ago in Clermont Florida and moved to a different state. I saw the writing on the wall.
What state you move to?
@@MM-kf3gq North Carolina
@@dapperdino1996 heard that state getting super popular
America is about to collapse as a whole …people will be moving to a different country…especially when states start going bankrupt.
@@MM-kf3gq It is. It’s booming up here. I definitely like it better than FL. The weather is in the high 70s now, we have mountains, beaches, cheap car insurance and fall is to die for. I think having 4 distinct seasons is so much better than sweating 9 months out of the year.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Jessica Lee Horst" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Property tax; HOA fees; insurance; storms, are all dealbreakers for remaining in, or moving to Florida.
Property taxes in FL are fine but HOA and insurances are NOT !
You forgot the politics.
Looks like things haven't changed. There is a reason why florida was cheap and people chose to ignore it bc everything was open during the pandemic.
@@mike-uw6wt MAGA
What are they doing with the HUGE Tax increases Buying Junk ??
Florida is so expensive to live there and wages are very low, who can pay high rent or mortgage with that little bit of money written on the paycheck
That's why I'm so glad I left that ratchet state!
Retired NYC employees with a chunky retirement
It used to be alot more affordable, but the housing prices are just ridiculous now. Wages have increased, but not enough to keep up with the prices for most folks. You should be ok if you purchased a home between 5-10 years ago. For potential buyers that can afford it, I would wait until the rate cuts come back, or start making lower offers.
@@julienalexander6113Thats racket. 😊
@@vltruanI'm looking for a tiny home. It's all I can afford now. I need to get it asap before those are 300k too
The 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 Tampa 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?
Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.
I concur; I've been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.
I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 13 years of experience is certainly striking! very much appreciate it
I moved to KCMO a few years ago ,I’m a new mum and I'm weighing my options: should I invest in a single-family home despite soaring real estate prices, or would it be wiser to put my money into stocks and wait for a housing market correction?
thats a personal decision, but i would suggest you hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks
Some AI companies might be overvalued and cause a market downturn. Consider a managed portfolio, but even those have limitations. It's best to consult a financial expert (like we did, and earned $738k in Q4 last year) to get personalized guide
who do you work with? can you recommend me?
Glen Howard Chester 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.
West Palm Beach. New construction. Listed for 5 million. On the market for over 400 days.Price lowered over 40%. Ouch.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
Sincerely speaking. I will continue to trade and stick to expert catherine daily signals and guides as long as it works well for me.
Woah for real? I'm so excited. Adriana's catherine strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
In Scottsdale, my car insurance went up 50%, my home insurance up 35%, price gouging for sure. I will self insure before I pay these prices for insurance.
Thanks for adding perspective
I’m in Pittsburgh area and my car and homeowners also went up but don’t think 50%.
I have a friend who is super savvy with real estate--and art! She got a great pool home in Naples before the market rose, and she paid $300k. It doubled in value in a matter of 5 years.
I visited and loved her place. She took me to a Good Will and a Habitat For Humanity store that sold used furniture. You cannot believe the quality of things for sale in those places. My friend told me that wealthy women in Naples redecorated every year or two leaving prior fabulous furniture at these consignment shops. My friend also studied art and found pieces worth several thousand dollars each (she recognized the artists' names) at these local shops!
Prices will be going back to 300k range within a year. 👍
That’s everywhere. I do that for a living. I flip things I find in those place and resell them. Not too unusual to find high end clothing, accessories, in those places. You would not believe what people give away because they are too lazy to sell it themselves. 😊
Did she have a background in real estate; was she a licenced agent or broker? Serious question
My friend goes to estate sales, garage sales, goodwills and has an amazing eye for things of value. It’s his side hustle. he buys things for dollars and sells for hundreds routinely. I think his record was a small tea cup or something like that he got for $1.25 at goodwill and sold it online for $1500. Cool hobby.
@@shanerogers9386 I buy designer clothing at these places. One year close to the holidays there was a long line; so I stirred up a conversation with the woman ahead of me. She told me she put her daughter through law school ... by finding things of value at those types of places and selling them for a lot more on Ebay, etc. It's a good side hustle if you're good at logistics.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Jennafer Beaver Turner is the licensed advisor I use.
Just research the name. You'd find necessary details to work with to set up an appointment
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
Wages are the same as when I lived in Jacksonville in 2001
I made more in 2001 than I do now but Rent has doubled
Agreed, you can't leverage anything here because someone else will always take the lower pay and undermine everyone else.
@@floridad4717 I was a car salesman and made more in 2001 then I do now
@floridad4717 not better than Ohio, I was making 32 an hour, same job here wanted to give me 12. Food is cheaper, taxes cheaper homes cheaper insurance cheaper. Who cares if you don't pay taxes when everything else is 4x more
Who needs money when you can get paid in sunshine, lol.
Need badly a 40-50% deflation adjustment on land and homes nationwide.
It’s coming just stack some cash and gold if you can and wait
Darn right!!!
Come on 70% correction!!!
007
need 60-70% price drop just to get back to 2019 affordability given the elevated interest rates, taxes, and insurance.
@@Tater-Skinz Yes it is. Something that doubles in price only needs to lose 50% to get right back to where it was. Can it go more than 50% down? probably in some places, but 50% is a catastrophic crash in anyone's book.
It's going to have to be more than that. Prices were up more than 300% in many parts of Florida. A 50% drop would mean they're still 150% too expensive.
Insurance that was $2,500 now $7,500 w flood insurance becoming mandatory for many/most homes over time. Currently 25% of flood claims are OUTside flood zones.
Im from Ocala, I was very interested to see if and where we would land. So way overpriced here, a big fall coming. Im in mobile home development in which prices more than doubled since 2020 and nothing is selling other than land.
9:45
I read another article, where Ocala was, one of the top places people are moving to. I remember as a kid Ocala to Orlando was nothing but orange groves. Nothing but houses now.
@TT-hv8bx I want to move their next year. I've been paying attention to the rent prices there for 3 years now, and they are definitely gotten higher even for old homes.
My parents sold a house just south of Ocala last month and it had multiple offers within the first couple of days. I was shocked. There is a lot of new development going on, new neighborhoods, and that may account for the huge increase in inventory. Personally I think people are moving here because it's cheaper but it's cheaper for a reason.. it's so hot and miserable during the summer. On the coast you at least get a breeze, It's hotter in the summer and colder in the winter in Ocala.
I live in rollinghills.
Oh well there's always the trailer parks. Pink flamingos and all.😂😂😂😂😂
Watch out for Cape Coral. It was ground zero for the 2008 housing crash.
Lehigh was actually
I sold my house 2 years ago in cape coral at the high point.i got real lucky.😊
Are you still in Florida?
Why did you move? How long did you live there?
Very lucky! I was there in 2021 and it was a ghost town. Fast forward to 2022 and everything skyrocketed. Crazy how that happens.
This guy put out the same video on August 5, 2021. Over 3 years ago. It didn’t crash then and it’s not crashing now.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
You're correct!! I make a lot of money without relying on the government.
Investing in stocks and digital currencies is beneficial at this moment.
I just want to use this opportunity to say a very big thank's to Sonia duke and his Strategy, he changed my life.
Soina Duke program is widely available online..
Started with 5,000$ and Withdrew profits
89,000$
Soina gave me the autonomy I need to learn at my own pace and ask questions when I need to she's so accommodating.
I had trouble understanding trading in general. I tried watching other YT trading channels but they made the concepts more complicated. I was about to give up until I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow.
I advise you to follow experts and experienced people like Ms. Sara Ramirez
You don't need to be shocked haha because I am also a big beneficiary of her
Please how can one reach her?
She is mostly on tele grams, using the username
she is verified and active there
Spent 2 weeks on vacation in Florida. Never saw more for sale signs in my life. Actually freaked me out.
And nobody will sell for less than what they bought for. Everyone clutching pearls down here
Those highest inventory are where recent hurricanes hit it very hard, destroyed and flooded everything ! Ft. Myers beach, Cape Coral, Naples and east coast as well. Lakeland is a ghost town and over all Florida has the same wages 25 years, nobody can afford to live there with high prices and so little paycheck !
Why do people talk about wages as a limiting factor for FL real estate? Most of the folks moving down are retired people with money. They are not working, they have investments and/or a pension, and probably sold a home up north.
Yes it is crazy, I just retired and left Apopka, Florida. In 2016 I bought a 1200 sq.ft. home for $165K,.... today it is on Zillow for $368K. Everyone in the world wants to move there. How in the hell does everyone know about this little town?.....And everyday a big traffic jam on 441. In the 1960's they used to have signs at the city limit that said that it was the indoor foliage capital of the world because of all the Nurseries. But most of them sold off and are now sub divisions. Most of the yards are pure dirt, even with sprinkler systems due to the bugs. It takes about an hour to get anywhere, even with all the toll roads. I moved to a little town in North Alabama, Dora, which is small, like Mt. Dora in Florida.
Corporations using algorithms to find the lowest priced real estate everywhere in the country is my guess. Blackrock is buying up entire neighborhoods in Florida to rent out.
@@tomlewis632 a small town in Alabama sounds so refreshing in comparison, congrats! Growing up in Florida, our family vacations were road trips 2X a year to visit grandparents in Mobile, Anniston & Birmingham. You’ve made good decisions
I'm in Apopka. Still very nice but for sure the insurance is the biggest problem here. Unfortunately this is all planned and will eventually reach everyone. The middle class is almost doomed. The only saving grace for you is that you are retired. I have a couple more years to go and praying that I can hang on. By the way congrats to you on your move.
@@tonyh4513 Yes I fought with State Farm Several times. Then they stopped offering coverage for homes. Only cars. And none of them will issue you insurance while there is a tropical storm or hurricane developing near. You have to wait until it passes. So make sure you are covered before the season hits.
Can understand the move, been telling the wife we need to move North of Ocala to get out of the crowd myself. I remember when driving to MT Dora was mostly a 2 lane road and now 6 lanes isn't enough. I feel sorry for the long term residents of that area. The Villages sprung up from 0 in the 80s, to over 300k now.
Current resident of Jacksonville Fl, I can tell you now, home prices and rents are going to go full fire sale next year. The job market here does not support the prices and the price to sqft ratio + Deposit/Fees and needing to make 3 times the rent has many homes sitting for months with 0 applications. The corporations that own these homes like Progress and First Key are doing their best to not lower the prices by much, but that just means they will sit vacant. For mom and pop landlords, many aren't keeping up with the current trend, and are trying to charge outrageous rent prices, and when no one bites within a month of listing, they then put it up for sale which no one is buying. People simply do not have the money, not with a median income of $35k and household of $64K.
If I am interested in the areas just north of JAX up to the Georgia state line, but staying in FL for tax reasons, what do you think about Hillard and Yulee and all those places above Jax ?? Thanks !
I will believe it when I see it. Houses on the beaches side have practically doubled in the last 4-5 years. Just looked at a 2000sq ft house that was last sold in late 2015 for $433k. Now on the market for 1.175 million. Lots of buyers with tons of cash.
@@LJ-jq8og Once unemployment crosses 8.250 Million, you'll see the start of panic in housing and inventory start to skyrocket. If you're looking to grab a house, wait until unemployment stops going parabolic and starts to even out
@@dingodave1238 Now how many of them are actually selling? Doesn't matter how much it list. 2015 buyers aren't 2024 buyers. One came right out of a crash, another is going right into it. Drop the address of the place if you dare so we can see if they cut the price $5,000 multiple times.
Going to take a lot of 5k price cuts to make a nearly 1.2 million dollar house that should be a 500k house affordable.
I read about and heard stories about the boom and then bust of Florida real estate in the 1920s.
Interesting, 100 years later, the exact same things have and are happening in Florida now.
The 5 reasons for the Florida bust of the 1920s according to a site I checked are: 1) Those who made lots of appreciation on their properties sold, thus taking their profits. 2) Negative stories about the expense of Florida land/home ownership were appearing. 3) Fewer buyers were interested in buying Florida properties 4) A horrendous hurricane and severe storms made the area less desirable. 5) Lastly, the stock market crash of 1929 destroyed the wealth of nearly all formerly potential buyers.
Port st lucie will IMPLODE!
Yet they’re still building it’s crazy !
But houses and rent are cheap their compare to South FL 😔
I really hope it does, so I can actually afford to buy a house in that area!
Let me know when this happens. I've been wanting to move there too. I can wait though lol
The traffic is now insane.
Thanks for keeping it real. No one believed me when I kept telling them Florida's housing market was going to crash, my parents included. I've been watching you for years, the data doesn't lie. The time has come, the money has dried up, time to pay the piper.
Median Florida salary is about $60k. Even if-when housing crashes, it won't be to an affordable price, for the average Joe, making $40,000. Prices would have to be under $200,000.
It's definitely plausible because insurance alone is killing the ability for affordability
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I'd like to add, that looking at large metro areas gives a very broad view of the market. Taking it down to county is even better, but the best is by town and/or zip code. Also, the type of house (condo, single family, multi-family) is also something to look at. I pay attention to all of this to determine how our property values are doing. Everything is local!
Great video, thank you so much. I’ve been watching you for years now and you’ve been right on!!!
Sometimes, the numbers on a spreadsheet don't capture the storm on the horizon. Is it still worth riding the Florida wave?
Investing in real estate is always a gamble, but understanding local markets is key. Florida's boom might be hiding deeper cracks.
I've been struggling to figure out where to put my money next. Anyone know a solid investing professional who could help?
I've heard Kristin Amy Rose is pretty sharp with navigating complex markets. Has anyone worked with her?
Real estate isn't just about property; it's about the community and future potential. Florida's long-term growth is what I'm watching closely.
This guy has been calling for a crash since 2021 so he can sell a membership.
Finally you mentioned capecoral, fortmyers it's thrue I live here I see for sale and for rent every where.
A lot of the Florida inventory spike is due to condos flooding the market. The condos were required to catch up on HOA fees which has caused massive fees. Freestanding homes are still rising in price.
Nope
@@scottgriffin2005 Unfortunately, yes in many areas of Florida, particularly South Florida. That’s why I said a lot but not all. I see in another comment you gambled and sold your home to cash in on a potential correction. I truly hope it works out for you.
I am a current florida resident, and I approve of that message. The client list of those high income residents that you mentioned is missing the illicit drug business and cartels, which contributes enormously to the Miami housing market.
Sad to see what is happening to all the fixed income retired people.
They voted for MAGA and DeSantis. They deserve it.
@@DrewRueDoo WTF?
Maga is not in power now, that is your Bidenomix…wake up!
Sold my townhome in Tampa last summer. I purchased right before the pandemic. Prices were already dropping last year from the 2022 highs. Im waiting and will buy again as prices drop more.
I live in Port Saint Lucie and the prices are 50% over at minimum of what the local economy can support! The only people buying here are from out of state or from the south. We are set for a major crash!
Yes, many drive out of PSL to work. Mostly service and hospital
type jobs in PSL.
@@larrymann1272 I’ve noticed that most of the people buying and moving into the new construction are “work from home people” ie from out of FL. Or people that are stacking up 2-3 generations or family in the same home. I literally drive these communities with job everyday and there are way too many cars in the driveway from 10:00-3:00. Once the work from home collapses, PSL housing collapses. People aren’t retiring here because it is cheaper to stay where they are at. Plus taxes are ready to go up again.
@@BradleyJ_FL
I’m in Brevard , but have friends i visit in PSL. Notice a lot of people
living in one house.
@@larrymann1272 I work in the industry and there are hundreds/ thousands of units going in, rentals and for sale. I just can’t imagine how locals can afford to keep this market flowing. We don’t make enough to put a dent in a mortgage payment for these prices. I make a decent wage for PSL and I can barely afford to rent an apartment for my family. Out of state money only goes so far before the market collapses and the state government realizes that the people drive the economy, not big money moving in.
@@BradleyJ_FL
Same here in Palm Bay, new homes that can’t sell are being rented, plus brand new 4 story apartment complexes ( wood framed) just being
built 1 mile from my house
Sold my house in Land O Lakes FL (just north of Tampa) for $545K in October of 2023. Zillow estimated value of that house is now $528K. I'm glad i got out when i did!
Port St. Lucie is getting hit hard three times. As you mentioned they are the highest overvalued city in Florida, which is especially brutal as they also have the highest property tax rate in Florida. A few years ago FEMA completely rewrote their flood maps, with Florida receiving the greatest increase in flood risk and rising premiums, especially along the coastlines but not all areas were affected equally. Port St Lucie was given the highest rate increase in the entire nation, about a 300% increase compared with 2020 rates. I’d argue those 3 factors push Port St Lucie up the least affordable list, putting it on par with cities with much higher average housing prices.
🤣😂.. is this true @@Tater-Skinz
Houses 🏘️ are cheap their compare to South FL, how do you explain that?
Just like the flood maps, there seems to be other delineations within PSL. West of 95 may be taking on a different tone than east of 95 and coastal PSL. Most of the new builds and higher prices seem to be mostly west of 95. Brand new construction with the latest hurricane materials will cost more thus higher home prices. The older homes more towards the coast are similarly priced as new builds or just a bit less and this is where I think the price adjustments will take place. People coming down from the northeast after selling their overpriced homes can easily afford the higher prices new builds and have no mortgage. Even if there is an adjustment with new builds, those adjustments would have happened up the northeast, too so it's kind of a wash. Buy a home to live in and enjoy. After a lifetime of the northeast grind, boring is looking pretty good.
@@SonnyChan-y3w
You are correct, except that I-95
runs way inland in that area.
Even east of I -95 takes an hour
to get to the ocean.
We live in the Cocoa Beach area. The new home building has stopped (thank God), existing home sales have slowed down considerably, but the values have not dropped too much. We bought our place in 2021 for 380K and it’s now still worth about 590K. 10 minute walk to the beach.
Nice Nick!!!
Let's get this 70% correction started !!!!!
007
I am waiting for it😊
Congrats on making it on yahoo today! Super proud of you and self that we saw and informed. I saw too many families in 2008 being kicked out of homes with children misplaced. Most of it is self induced but there are still plenty of unaware individuals.
The home prices has come back that way it was 2019 a 3 bedroom and 2 bath already fixed was for $150,000
But when the pandemic starts the same house now is $350,000
Is unbelievable crazy
Hollywood Florida Home flipper dropped his price from $1,200,000 to $850,000 right here on Adams st.
No one can afford this.
I love living in Hollywood. The only thing I hate is how easily it floods here…Hollywood, Hallandale, Dania are a mess
@@k_escobar917 Hollywood also it’s shit show here Wild West , but noting will crash here ppl moving in every day
😂😂😂😂😂 yeah right. They revamped downtown Hollywood, but it's not enough. They went with the Wynwood aesthetic 🤮.
@k_escobar917 I hate what they've done to Dania. It had an old-time feel and now it's full of skyscrapers 😢....
Not a crash, just a market adjustment
Yup, this channel is just clickbait garbage for wishful thinkers
You’re absolutely right.
@@LibsareTRASH👍
agree
Nick , Thank you very much !....Great Real Time Intel !!..
The best time to buy is when the banks stop lending. That's when you need a big pot of cash in the bank.
Great video brother lots of insight on the market at this time in in the future
You missed North Port, Sarasota, Lakewood Ranch> all getting ready for 30 to 50% off
Hope so, given what happened in Laurel Meadows from Debbie. It would take type of correction to make buying logical given hoa fees and insurance absurdities, not to mention future climate impacts.
@@Gufenaugh Ya, They should sue the county for APPROVING the developments right there with different elevations and not enough holding ponds.
It’s basically all markets from tampa to naples
@@dennisnoone7427 Yes, all Sw Florida
@@dennisnoone7427100%. I’m in Rotonda. Prices dropping. Investors can’t sell for what they paid - pre-remodeling. 2025 is going to be crazy.
As far as I’m concerned anything less than a 25% change in price is not a correction.
The 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.
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague
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.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
They're building like crazy in Polk County. It's nuts! Lakeland, Haines City and Sebring. Prices are similar to South Florida.
I can sum this up in one sentence. Drowning in information and starving for wisdom.
There is no national real estate market, there is no state, county or city real estate market, there is only a neighborhood real estate market. Your analysis is equivalent to saying “my head is in the freezer and my feet are in the fire, on average I feel pretty good.” You may try adjusting for seasonality, population growth, product type, etc. Comparing average list price drops is ridiculous given how people often price things way too high…just see. I could go on and on and on.
Great video - straight to the point
Ft Myers had a hurricane that destroyed homes. He didn't mention that
Still a very real risk of living in Florida, as a Floridian
That hurricane didn’t stop anyone from pouring in here. More ppl moved down here after Ian than any other time. Fla over priced and built itself. Im so hear for the downfall
I completely agree with you and further it was obvious mid 2021 that this was going to happen. What is it about history in the FL real estate market that people don't get? Coming from the Palm Beaches I can tell you that once the investors start pulling out of an area the entire game will easily go from positive to negative in a NY minute.
I was just in Venice (Sarasota county) checking out new homes and found that the HOA fees are friggin expensive ($460/mo in one particular community). For that amount they take care of your lawn and you get to use their clubhouse with a nice pool. They also charge you a one-time HOA contribution of $5,600. Of course there's the usual CDD and property tax. So they fee you to death to live in Florida before we even talk about home owner insurance, flood insurance, and hurricane insurance. Sure, the beaches are nice but I'll stay out of Florida because of these expenses.
Thats cheapc😂. Average is 780-905/mo. in Cali you can live in a manufactured home, a upgraded 2000+ trail park, for 275k 2000 sqft but now pay for the land rent which is 2200 to 4600/mo!!!
It nice but geriatric - everyone is old- average age ballpark is 70
We used to walk the beach in Palm beach County during weekdays. Empty everyone is working.
Those areas have been invaded by people from the northeast coast and California. The attitude of the people are not as nice as they used to be. Very aggressive driving, rude attitude and a self-serving mentality.
Actually when compared to the northeast $460 for an HOA is not anything out of line and for that money you will likely get far more in amenities in Florida. In Jersey my HOA was $400 with a pool the size that would be average size for a private single family home. Some of these Amenity centers in Florida are 30 thousand square feet with indoor basketball courts with resort style pools with a poolside bar and grill.
You and everyone else keep saying there is going to be a crash in 2026... Hope you are right.... Great video
Insurance is a major problem all over Florida. My agent told me they're struggling to get policies for anything built pre-2021, and modulars more than 2 years old.
This is not true. We built in 2017 in NE Florida and we had no problem getting home insurance just a month ago. We are three miles to the coast as a crow flies.
Where? I had no problem getting quotes from multiple companies. My house is 53 years old and less than a mile from the Gulf.
Insurance is super sucky here right now, but the 2021 number is totally made up.
Great stats and info. Appreciate the amount of work that went into the video. I do have an issue with lumping St. Pete. into the Tampa area or even Clearwater area. Not only are the three Ls paramount, look at new construction vs existing homes in this area. Perhaps the lowest inventories of new homes anywhere in Florida due to geography. Builders are still getting a premium.
Thanks for all the helpful data. I'm from Orlando and I've been holding out which has been hard but prices are so crazy. I'm an engineer and my wife's a nurse, no kids, and the top end of our budget gets us a crappy house here. I just can't justify jumping in at these prices. It's good to know things will likely get better and I'm better off waiting
Finally! I have been watching your videos religiously for many years now. I’ve been waiting to buy a house. Finally some good news. Greetings from Jacksonville and keep up the great work.
Thanks for the updates Nick.Happy Labor Day.
Question: Are these home statistics combining condos with single-family homes? The huge increase in condo fees IS creating a flood of inventory. But the same price depreciation may not apply to single-family stand-alone homes. Please clarify.
Single family homes are facing downward pressure too from escalating insurance costs/inflated property taxes.
AirBnBs profilerated many SFH neigborhoods. As inflation eats away at disposable income (and AirBnB fees and cost of carry increased) many of those short term rental homes became unprofitable (now becoming part of the rising inventory for sale for those who can't find long term renters who can help the owners cover the cost)
Can you do a video on Loudoun County VA? I would love to hear your take on what's happening here. This is a tech sector area. Lots of software companies have stopped hiring and even let go of people in the area. Yet the housing market is still ridiculous. I would love to see the correlation between the two.
I wintered in Polk county last year and it is overcrowded with migrants and retirees. The lakes make improving congested road conditions difficult. Builders are over building, I could not make a left turn out of my community but a quarter mile up the road some company was building 400 apartments or condos.
Wow, thanks for a better job with the charts!! Much easier to follow.
I am in North Florida and like others, waiting to see how things play out since nothing is affordable south of where I live.
The problem is that even if prices do become affordable, it won't change the following:
1. Hurricanes are coming more often, and South Florida is flat when it's not on the water
2. Insurance costs are insane
3. Condos that might have been affordable carry such high HOAS that seniors on a tight budget can't afford to live in them
4. It's so hot!!!!
1 and 2 go together.
@@toddknode752 --But they ARE two separate concerns.
Bruh your teeth are super shinny! Nice man!! Thanks for all the great content!
Damn dude aren't you tired of saying the same old thing? Nothing's happening
Miami Dade property taxes are way higher than California. Of course, in California you are protected by Prop 13. But Miami Dade's property appraisal goes up and up every year, causing rents to be sky high. Absolutely ridiculous
Up 100% then down 5%. Crash??? What crash???
Crash? Or just a correction seeing as prices have exploded upwards the past few years.
This guy has been warning for years but prices keep climbing. Just like stocks, fundamentals matter, but price is most important. Unless there is a major depression event, prices retracing only 20-30% after quadrupling is not a big deal
@@froc7128 Do you think things happen overnight? Especially with the Government giving out trillions of dollars in stimulus. Sales are at 2010 lows, inventory is rising, wages are now stagnant or dropping, and unemployment will continue to rise as companies continue to try to show profits in the market. Also, credit usage is at an all time high. This market has been artificial for years. The fed can't continue to stimulate the market because of inflation. We have had about a year of high interest rates due to monetary tightening by the Federal Reserve. People have no idea how bad it is because of govt. intervention. Why do you think they keep dumping more Govt. programs for first time buyers? Because investors have stopped buying and the little people can't afford it. Again, manipulating the market.
Ft Myers (not mentioning the Hurricane DESTROYED the entire city) and Insurance is almost impossible to get. Dude. 😮
Will it crash 50 percent or correct 50 percent? That actually still seems severely overvalued in many areas when you think about the fake values colluded up by out of control flipping and investing.
These insights are scary but important. 😓 I have family in Orlando and they're thinking of selling.
A Florida Native, thank goodness baby boomers are set to retirement peaks between 2024-2030. Along with the recent DOJ announcement corporate landlords using Algorithms keeping rents artificially high. Eventually this all will lead to more affordable FL, if it wasn't by Ron Disantis helping the insurance and developers make sure they are in his pockets. He took away the 30 percent rule for roof replacement which causes more litigation after each hurricane
I’m currently purchasing a townhome in Ocala, it’s not too expensive and needs updating, but structurally in great shape, I am also getting the seller to replace the roof and wood siding on it. I think even if the housing market crashes, I will still be fine as it is not one of those big houses that are way over valued, it is on the lower end of homes in the market right now. I am waiting until later this month for rates to drop so I can lock in my rate though. Hoping this all goes well and that this is a good investment for my first home. 🎉
Dude you been selling fear news for the longest time. Prices are not dropping lol
Love your videos ! I use your stuff for my channel , I'm more of a bull in my market but appreciate all insight!
Life long floridian, leaving when my house sells. The traffic is unbelievable, quiet little beach towns no longer exist. To many new yorkers retired here. I'm so tired of hearing "well NY has the best...", go back if it's so much better. The house I am in was $175k brand new 5 years ago and now it's allegedly double? Meanwhile it's already falling apart. Also way to many foreigners who illegally crossed.
Thank you! Can’t stand when blue staters move to a red state and complain about everything. This place use to be my dream now it’s literally my worst nightmare. I want to move out to the desert in AZ at this point
Don't forget the skyrocketing crime rates. It's like the 90s all over again.
so move!! You sound like one of the whiners you complain about. NY does have the best....Free medical, free college educations, high paying jobs, but it's freakin cold there!!
@@goochmcduck4285Forced to come here from California and I agree New Mexico or Arizona is where it’s at .
Sold my home in Port St Lucie...2018....so happy I did!!!! Left Florida...best decision
People way overpaid. Be also tons of foreclosures next
Florida # 4 in foreclosures according to SoFi
Great job quickly getting to the 'meat' of the video. Much appreciated.
There will be no housing crash. Corporations and the wealthy will continue to purchase this asset.
They won’t if they can’t get renters, because they still have to pay taxes, upkeep, and insurance on empty homes. That’s a loser for corporations, and they will sell under what they paid.
When I bought my 1st house in 1990 their interest rate was 10% interest rates go up and down all the time.
I refinanced in 1996 and refinanced again after that.
The economy never been better than it is right now. Interest rates will come down again.
Governor has to change / tweak the law so HOA and insurance costs come down or don’t go up 🆙 as fast. Also, no Wall Street investors
We just got home from my wife's medical jobs interviews in Kentucky and Missouri. They just offered her the job today at Kentucky and she's waiting for Missouri to write back. They pay her more than she gets paid in Orlando and the cost to live there is easily half. We have become stretched for money and we said enough was enough. I think we will be putting our Kissimmee home on the Flooded market in the next 3 months and bugging out. My wife said she's taking the Kentucky job if the MO job doesn't pan out but we're leaving one way or another. They can't get medical doctors to move to those smaller towns so they pay tons to live up there. Home insurance here and Car insurance has gotten insane. If we can literally save 15k a year on insurance alone by moving and we can double the size of the home for generally the same price, we are gone!! We are scared it won't sell though because the market is currently flooded here in Kissimmee.
I felt compelled to say a prayer that your home sells so you can move. 😊
Southeast Florida is very overvalued- prices need to crash
The property bubble has bursted in Florida as prices spiked to ridiculous levels.
You've been saying, "housing crash" since 2021. At what point can we call this, "clickbait?" 🙄
Yes . All this " experts" are full of sh@it . I know one day real estate prices will go down , but it has nothing to do with their predictions that take many years to happen😂😂