It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Over the past three years, I have been working with an investment coach who has provided daily guidance on my investment decisions. With their expert analysis, I have realized gains of over 850k. Their insights have helped me avoid losses and capitalize on market breakthroughs, particularly during downtrends.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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.
There are advisors in cities around you but I needed services of one who can guide me irrespective of location. ‘Melissa Terri Swayne’ comes highly recommended especially in times like this. I am hedging and haven't lost much to the recession. I found her in 2020 when the market was at an all time low. Look her up and thank me later.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I’m in Kentucky and the housing insurance 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 quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods 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.
This is precisely why I like having an asset manager look over my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a manager for more than two years, and I've made over 85% of my initial amount.
Rebecca Noblett Roberts, is respected in her field. I suggest delving deeper into her credentials, as she possesses experience and serves as a valuable resource
My combined insurance policies cost more of my fixed income than my space rent and utilities! And since I have an older mobile home, I can’t get an umbrella policy.
@@derekschommer1465 Except ... they didn't. Hurricanes were relatively rare, especially BIG ones. Do you wonder what changed? Well we KNOW it's NOT THAT BS "climate change", right? Your caring, thoughtful Republican leaders (of all stripes, Federal and State) have told us over and over again that climate change is BS. So have your beloved institutions - Exxon, Chevron, Ford, GM, PG&E, Duke Energy ... ain't NO WAY they are lying to you! NOPE, MUST be those pesky EVs? Yes, that's it. The EVs are causing the big hurricanes!
#Today #Dentures & #Trump is #Trending By the ways, Donald #Trump JUST #Threatened Joe Rogan on #Truth #Social !! MAGA's angry that #Rogan endorsed #RFK ..AND #Rogan just made #Fun of #GRUMPY 😂✌ #NOW even Elon Musk Elon Musk Xperience Elon University Elon Musk 💯💯 Elon Musk has #DUMPED #DonaldTrump #Trump , #82 is Toooo #OLD 🙉 This Week, they gave the #Senile #old #pussy #grabber Donald J. Trump a MIKE again 🙉Donald saying his 25000 size crowd was bigger than MLK's 1 million crowd at the same Venue, has gone Viral , #weirdo 😂✌
It’s the government that is abusing us. They are going to completely devalue the currency. That’s what’s happening with rising insurance and everything else. The more debt they create/the more they spend the less the dollars are worth/ purchasing power.We’re down to 3 cents of the original purchasing power of the dollar. 3 cents!! That’s why everything is going up. It’s called inflation and it is BY DEFINITION, money creation. Stop listening to BS propaganda and educate yourself on how our financial system, a DEBT BASED SYSTEM, works!
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 56 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
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 3 years to consistently build my portfolio in preparations for retirement.
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 3 years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
I've read and seen where private equity firms are buying hospitals and then forcing doctors and nurses to take on more patients. Who benefits? Shareholders. Until we outlaw private equity firms from buying into the public domain, we'll see more and not less of this. For my own part, I'm leaving the United States. Forever.
I pay under $800/year to insure a four bed, four year old home in NY state. Up about 10% year over year. We are almost zero risk here, and properly regulated. It’s not an inferno so people actually go outside here, too.
The trouble is not insurance costs but that we have stifled inflation with full labor force mobilization and computerization... but we haven't procuced that much more oil, iron, copper, or steel... or 5xed productivity in building. Building is where you can see inflation. So is insurance. The problem isn't even lobbying, it's the central banker usury system.
@@user-rx162r No, the problem is corporate abuse. Period. You don't get to let these bastards off the hook by trying to blame the Fed like every libertarian does reflexively.
Thank you for the video. It’s gotten so bad. Here’s what I’ve paid in the past few years: 2019 $1850 2020 $2844 2021 $2673 2022 $3782 2023 $5830 2024 $6686
ALL insurance is going up. I started at $80/mo for private insurance to pay the 20% Medicare won't pay. I now pay $300/mo for the next step down in coverage. Many of you know how little Medicare actually allows and then pays 80% of. This $3600 policy just pays the final 20% of the small amount Medicare days is correct. Ridiculous.
These insurance companies are vile and unscrupulous. You're paying in for decades and when it's time to pay up, they do whatever they can to weasel their way outta paying your claim.
And what's interesting is all the small time insurers now that are taking over policies from Florida's public insurer of last resort, Citizens. They're all no-name insurers who almost certainly will flop the moment a storm hits and they won't be able to pay out all the claims. Even DeSantis' own insurance chief has said it's a disaster waiting to happen. No doubt Florida's legislators are counting on a federal FEMA bailout when the next storm hits. They've found a way to get American taxpayers to help subsidize Florida's insurance industry.
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this.. Look this up and see for YOURSELF.. you want the answer here it is- BY Valuetainment: copy and search for: " Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "
😮of course you go after the guy supporting Trump, and say nothing about the guy who took 31 million from China and left 70 billion dollars in high grade Military equipment in Afghanistan for the Taliban to parade around, the putz and his son have Bribes of tens of millions on a Laptop and you say nothing, but you go after Desantis, you got a Laptop with Desantis taking Bribes on the Laptop.
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!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
'Rebecca Nassar Dunne , a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
This is literally disgusting that we allow the rich and well connected to govern us all. PLEASE! SUPPORT NEW candidates to Congress and HELP US ALL turn the tide.
DeSantis received $3.5 billion from the federal government in 2023 for home owners insurance. He gave the money to the insurance industry with no plan on doing anything with it, and insurance companies left with the money.
I’m against using federal money to subsidize bad decision on infrastructure, home making, home ownership and bad choices. A good proportion was to elaborate some regulations to obligate insurers explain better to consumers why the insurance policy cost and have some sort of list to do things to lower premiums
Perhaps what De Devil wants is all those people to leave the state.... because it is considered beachfront property it can be sold to future developers and rich people.
@@Eyeris625 Rich people are rich people, because they’re making goods decisions throughout or pays someone to do that. They’re aiming to redevelop and sell to a bunch of naive. De Santis isn’t seeing the bigger future.
@@victortaveira8271 desantis and his hilly belly po;iticians are killing homeowners insurance. THEy are taking millions and do not do anything. DESANTIS and his budies need to vote out.
@@Eyeris625 same thing woulda happened with gillum in power. stop acting like ANY politicians will do something for you. they are all running for office because they are part of the cabal club.
Been a homeowner in Florida since 1999. Native Floridian. Over the past 2 years, my insurance went from $1700, to $4500. I live in the middle of the state. 70 miles from Gulf Coast. Desantas caused this. 100% to blame. The Insurance Lobby OWNS him & the GOP Majority.
I think what you mean to say is that Florida accounts for at least 70% of all lawsuits related to homeowners insurance in the country, not 80% of the claims.
@@BrianK-zz4fk Florida's insurance rates are triple, if not more, the national average. That reinsurance fund the video mentioned, the one that "insures the insurers" -- that's $2 billion of Florida taxpayer dollars. We pay for our own insurance, and then we pay again for the insurers insurance. And if the insurers decide not to pay up, DeSantis has removed Floridians ability to sue to resolve that issue -- we get to just roll over and take it, and DeSantis was proudly praising this as such a wonderful thing. He's blocked several attempts by Florida legislators to reduce insurance rates and raked in millions from the insurance industry as campaign donations, all while our rates double pretty much every year -- with the governor's approval. It is 100% his blame to bear.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I knew a guy in the UK whose parents worked for an insurance company. They outright refused to buy any insurance they weren't legally required to buy. They knew first hand exactly how much of a scam insurance companies are selling.
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine. To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require. Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply. The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium. A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
This is intentional. If insurance companies can cancel your insurance coverage, then you are forced to sell to private equity. Private equity will buy them to convert to rentals Make no mistake this is to convert homeowners to renters
And if you oppose it, you are called an America hating communist opposed to free markets and freedom in general. You want to take freedom away from people trying to make money.
This is true. Government doesn't want you to own a house....they want you to rent. Public Transit is another form of Government control....they don't want you to own cars...cars make one independent. Public Transit allows government to decide where you go, when you go, if you go and charge you for it!
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this.. Look this up and see for YOURSELF.. you want the answer here it is- BY Valuetainment: copy and search for: " Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this.. Look this up and see for YOURSELF.. you want the answer here it is- BY Valuetainment: copy and search for: " Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "-
Why would any insurance company do business in Florida for zones? They are not going to insure homes that are likely to be destroyed in a 50 year period. The only way to offer it is to raise the rates to cover the future losses that are likely if not inevitable plus a profit. I'm not with an insurance industry but basic business states revenue needs to exceed expenses. Stop building in flood zones, change how homes are built and change expectations.
Let me just point out that California is vastly different in political landscape, but experiencing serious issues with home an auto insurance companies comparable to Florida.
@@sarahdufresne6531let me point out Louisiana is being washed away by the ocean and insurance and politicians aren’t doing anything. It’s not a finger pointing contest. Both red and blue states need to do better ,
There is a concept that "ethical employers" pay their highest paid person, no more than 4 times (or sometimes 6 times) what their lowest paid employee gets. Note that there are extremely few such "ethical employers". We see various figures, such as that CEOs all to often get a multiple of somewhere between 400 and 4000 times, what their lowest paid employers get.
Ronnie D has no interest in and was never going to fix any of the problems in Florida because all of those problems make the people that donate to him richer.
Didn't he get the rules changed so he could stay governor while running for President? Makes you think....Doesn't seem like he cares much. He's more concerned about getting into higher office.
@@itsdarkout10 yes he did. Thank GOD he can't do the same thing for term limits since it's written into the state constitution which can only be changed by state wide referendum and has a higher than 50% threshold requirement for amendments to pass ( I think it's 60% but I'm too lazy to look it up). So one way or another he is out at the end of this term.
I live in Florida.And Before I purchase a plot of land made sure I wasnt in a flood risk zone.Have yet to get flooded.had property since 2018.Dont need flood insurance
One of the major reasons I fled Florida a month and a half ago after living there for 27 years. Florida is literally a state in crisis, yet people blissfully go about their lives as if everything will be ok. There’s the insurance crisis detailed in this video, a housing affordability crisis (which insurance plays a part in), a hurricane crisis with hurricanes routinely hitting Category 4 & 5, a cost of living crisis…. I didn’t want to be the last man standing.
Ah…Climate crisis, too? Try getting a 30-year mortgage on Miami Beach. The bank will laugh at you while writing a check to a climate-denying Super PAC.
@@lee-suhuang5326 im leaving in october with a big smile on my face. Im taking my vote and my money to a state where the vote matters... PA. My vote means nothing here and i cant stand the people anymore. After 33 years ive had enough of this dump.
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
Jessica Lee Horst a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I live in Florida. I live in a 4 yr old, new construction home, 2 - 3, valued at $280k. No pets. No pool. We both have 800 credit score. My homeowners annual premium is $575. Oh, BTW, I DONT LIVE ON THE WATER!!!!!
No. The poor have free or low cost options from the government in many areas---FEMA, healthcare, housing, etc. It is the Middle Class that are offered zero help.
This is yet another perfect example of people voting against their own interests. All the people in FL who voted for Gov Go-go Boots and his Republican Party in the legislature have inherited the precise outcome they did unto themselves. I have zero pity or sadness for them because of this.
What are people to do? The Democrats are offering up crappy alternatives. If I vote blue I might benefit towards the fight against insurance issues but then I’m stuck with all the other garbage issues the Democrats are supporting today. Bring the Democrat Party back to the middle and I would support them. Give me a Democrat candidate that has common sense. Abortion, LGBTQ, transgender, etc. are not issues that should be at the forefront of. Focus on the economy and safety instead of the foolish stuff. That’s why Desantis ran away with it.
It's easy to feel like this when you're not the one suffering. There was many of us who didn't want him, I myself voted for another instead of this idiot. It's not only Idiotic Republican DeSantis worshippers here
Oh, I guess we should have voted for the meth user Gillum,...you remember him, the guy from Tallahassee who was under investigation by the FBI. The guy you probably voted for, so don't lecture us about DeSantis who is the best Governor in the country.
I am sooo happy and fortunate to be living in Canada and we have healthcare, pharmacare, lots of clean water, $10 per day day care etc, etc. etc. .......paid thru taxes and much much much more in the way of benefits.
Considering the prevailing inflationary conditions, it appears improbable that the stock and housing market will register substantial gains in the immediate future. Therefore, it is advisable to temper one's expectations and acknowledge the potential length of the market's recovery period. It is my professional opinion that it would be prudent to defer any significant investment decisions until the economic environment stabilizes in areas of concern. Until then, exercising caution and refraining from engaging with the current turbulence would be the most judicious course of action.
Focus on two key objectives. First, stay protected by learning when to buy and sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.
A steadfast commitment to reputable companies requires either holding steady during market downturns or increasing investments during such times. This strategy is based on the fundamental belief that well-managed enterprises will eventually rebound with renewed strength. On the other hand, investors seeking long-term profits through stock appreciation should seek guidance from a FA to identify opportune entry and exit points. My own experience during the pandemic highlights the value of working with an investment advisor, which resulted in a significant gain of $630k in just 8 months.
Vivian Jean Wilhelm 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.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I’m in Florida and I do not have flood insurance. The home insurance crisis is likely what will push me and my wife out of the state rather than the two of us living and growing here
I’m also in FL. Had flood insurance but dropped it after the 40% increase in our premium this year (with no claims & a 2 year old house). Our home owners insurance policy has gone up every year also, despite again no claims & a 2 year old home. I’ve never seen anything like it and this is my 4th home, the 2nd in Florida.
@@missyyy-this is by design. The rich people make it hard to live there, so loads of people leave and sell their homes for cheap. Rich people buy up the distressed properties. Then donate to republicans.
Born and raised in Florida, returned after a military career. Moved in May because of homeowner insurance. Between 2021 and 2022 it almost doubled. Only 1 claim in 18 years. I will never gi back to live. Now renting a house on a military installation in Ky to be close to daughter. Best decision we ever made.
Good ideas. Enjoy that time with the daughter......you can always visit Florida when you are not enjoying the rest of the great country you served. tHanks
I’ve only lived in Florida for 10 years and I am leaving in September. Moving to Pennsylvania to be closer to my family in jersey but I’ll be honest this whole property insurance problem is a also a big motivator. I am also tired of the hurricanes and the heat.
@@Dancing_Alone_wRentals thanks we will. We will follow her to wherever she gets relocated to and when she retires in 8 years, we will settle down then.
Just came across your channel. Kudos to these reporters and journalist for bringing us these important stories. Keep up the great work. Gratefully, a new fan.
If it floods so much in Florida why aren’t homes built in a way we’re damage would be minimal? Anyone in Asia or Europe would laugh at the type of construction materials that are used here in the US.
A lot of homes are now built in a way where damage would be minimal, such as using cinder blocks instead of plywood or other materials. I’m not a builder or expert at this so if I use the wrong terminology I’m sorry, just repeating what I’ve seen and been told. Homes in certain areas, like near the water or in major flood zones must be built on stilts up in the air unless they were built a certain number of years ago they’re grandfathered in. I lived in a single story house right on the water for a bit and it was one that was grandfathered in while the newer houses on my same street were built up on stilts because they were newer. However, I have seen new apartment complexes going up recently made with plywood instead of concrete cinder blocks which is very concerning… especially thinking a lot of new transplants will probably rent there and not know the building is made out of plywood and is not great for withstanding powerful hurricanes. I’m not defending anything, just wanted to offer a response ☺️ also, I want to GTFO of Florida so so bad but I can’t move right now.
Chernobyl (TV Mini Series) Valery Legasov : Why? For the same reason our reactors do not have containment buildings around them, like those in the West. For the same reason we don't use properly enriched fuel in our cores. For the same reason we are the only nation that builds water-cooled, graphite-moderated reactors with a positive void coefficient. [pause] Valery Legasov : It's cheaper.
Because a HURRICANE resistant house is expensive as hell.. and the insurance on it is still expensive because of the risk ! Even with a hurricane resistant house it can still be torn to shreds by Mother Nature . And people who lived in those areas before it got so bad have to bear the burden of those price hikes because of being in a “risk zone” that insurers created .. hence the reason working class people get pushed out.
we have some of the strictest buildng codes in the nation. Homes are built of concret block. We are constantly hardening our homes with hurricane proof windows and other improvements. Hard to find a wood frame home like in other parts of UD.
Before having watched this video, I’d like to say that this topic is extremely relevant, and I predict that it will become increasingly more relevant with every passing day for all working class Americans...the time to be unified as a people is NOW, friends... we have much work to do.
It’s sad about the insurance problems but I also don’t like that people are building in disaster prone regions and then believe they deserve a bailout. All these homes are expensive and should be built to standards to survive the region they are in.
This is s good point. If states helped people whose homes are in risky areas and get destroyed, to rebuild elsewhere in the state, the homes would be insurable and the state would benefit in several ways. Rather than rating certain areas as flood-prone, declare them no-build zones and help people to leave. It's not a free market choice when you choose risk, and your neighbors end up paying to bail you out.
100% with climate change and the increasing frequency of hurricanes, we need to stop the federal FEMA unconditional bailouts every time there's a major disaster in Florida. They need to learn to accept the risk they've taken by living there. Americans shouldn't be subsidizing your cost of living. If they want to live there, fine, but you'll have to actually pay realistic insurance rates where insurers can't count on federal bailouts every time something bad inevitably happens. The rates need to accurately reflect the risk. And that isn't happening while DeSantis allows no name smalltime insurers to underwrite policies, insurers that will almost certainly flop if they actually have to pay out on these policies.
You're absolutely right. Society absolutely should NOT subsidize building in more risky areas. Those areas are going to get absolutely clobbered more and more. We cannot absolutely cannot afford to keep rebuilding in these areas it's impossible disasterwise
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.
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.
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.
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Yes! Just commented about TWIA. I'm in coastal Houston/Galveston. State farm, TWIA, and FEMA have completely screwed us and now we're going to have to pay higher electricity rates cuz the PUC has been captured by energy lobbyists. Between Sept 2023 - March 2024, every Texas user had their energy bills raised roughly $50 per month for "weatherization" - they got literally BILLIONS just from residential energy users despite giving the republican politicians record level donations after finding them not liable for the deadly winter storm Muriel.
@@jim0311 Texas is heavily gerrymandered, has some of the most restrictive voting laws, regularly purges voting rolls, and election integrity offices in democratic cities are being closed by the state. Are votes quite literally don't matter. Houston ISD school board is a perfect example. Gov Abbott removed all the school board members that WON their position in an election and replaced them with his cronies, some of whom even LOST their election just a few months prior. Don't blame Texans for something we cannot control. Every time the GOP loses popularity, they change the laws.
@@lahicks9773 Wrong!, I agree that's the perception. DeSantis's situation is very obvious which means he is very secure with Authoritarian control of Florida (no exaggeration)
Allstate dropped me after 22 years. They said it was too old. I live in a very stable area with no natural disasters. Those are hands you don't want to deal with, believe me.
It happened well before DeSantis. We had 4 hurricanes in one year and the insurance companies cancelled many people. Florida, officially known as the “Sunshine State,” was dubbed the “Plywood State” by media after it was battered by four hurricanes in only six weeks during the 2004 hurricane season.
While Desantis is guilty of plenty, the insurance crisis isn't one of them. This has been brewing for 20 years now and it is mostly driven by rampant insurance fraud.
@@DonaldDolph-ob8yv Not well. He is a raging dumpster fire, but the blame for the insurance crisis can't really be laid at his feet nor is it the fault of hurricanes.
Republicans love deregulation and have been pushing for it and voting for it for 30-40 years....We are now seeing those results of the corporations having the power over the people.
Most politicians are tearing our country apart for the rich. We poors are depicted as black and white version of the opposite party as the enemy. But the real enemy is the rich lobbyers . We never get what we vote for.
The insurance for my Truck was around $900 a month in Florida. When i moved to Illinois, I was expecting things to be more expensive considering how much I was bombarded in Florida about how expensive it would be to move to a blue state. After moving all my paperwork for my Insurance to IL while keeping the same protections, my insurance went from around $900 a month to $160. I have the same issue with my motorcycle, my motorcycle insurance is close to $300 in Florida, and switching it to IL will lower it significantly. Its not just home insurance thats a huge problem in FL
We live in Florida 10 minutes from the coast and both mine and my spouses car insurance together is only $126 a month for full coverage.Depending on if there has been any accidents in the last 5 years, ones current credit score, that persons age, which deductible plan one chooses, year and make of vehicle etc. are factored in when getting a quote.
@@ShutterEmotions123 Those factors should not have resulted in a $900 insurance plan in one place and $180 in another. Thats a huge difference and i find it extremely problematic. These insurance companies are not applying those factors in any reasonable way for a lot of vehicle and homeowners. Insurance is a huge problem in Florida. They are abusing people
In Florida we do a lot of "freedom happy talk," while promoting hate & sticking it to anyone who doesn't have a trust fund! This is the across-the-board attitude of Governor DeSantis & GOP Legislature. A lot of "Heads I win, Tails you Lose!" But we're good at pushing the low tax, lot of sunshine brand. Just never let you know that our "insurance & fees" skyrocket on a yearly basis while our services crater!😳🤔
@@mrb152 it's true all the other states are experiencing the terrible consequences of the fossil fuel caused climate catastrophe. But it's the right wing bandwagon always orchestrating blame and hate against "California" as if it's the "only state." Despite Florida Scam is actually much worse. Florida Scam has been draining all the other states for decades. I'll never forgive Florida Scam for taking our grandparents from us here in West Virginia and Kentucky and then "giving back" pills from the Florida pill mills. But to hear the "trickle down" crime syndicate tell it, "everything is 'California.'" My AS$!
About a half a mile from me an entire block is condemned because of sinkholes. This is not that unusual in Florida. This accounts for a huge problem here in the insurance industry and most people out of the state do not understand this. It costs around 40K to fix a sinkhole minimum. Minimum. Probably a 100k is more like it. Now ask yourself again why we might have an insurance problem here.
That's what happens when an industry is allowed to take over with no accountability. I guess people should just stop getting insurance on their homes in the first place. What's the point when they never want to pay up? Why should we pay good money for nothing??
Unfortunately if you have a mortgage through a bank you don’t have a choice, you have to have it. People are literally going into foreclosure BC they can longer afford their mortgage payment with the insurance increases.
"they never want to pay up..." The US homeowners insurance industry has on average lost money over the past 20 years. So they are paying up. The older lady in the video is an example of why you should READ and UNDERSTAND your policy. Know what's covered and what's not.
To be clear, this is what happens when government caters to corporations instead of people. If corporations can not or will not protect citizens, then the government must step in and provide the service or regulate the industry. The government already does this for flood insurance which is reasonable and affordable.
The government's job, its ONLY job, is to take care of its people. Whether it's building highways, providing solid military defense, helping seniors with Medicare, or whatever, if it's not taking care of its people it's an abject failure.
No, this is only protecting the wealthy too. Those who build houses in expensive places right by the water. People living in less risky, less fancy places pay for this. It also operates in the red.
@@lightowl4345not many places in the states these days that would be considered less risky…. Increasing large scale fires in the west, increasing amount of tornadoes in the Midwest/south, and increasing amount of hurricanes on the East coast along with more intense and damaging winters around the Great Lakes region really makes it so there really is not many places to live that are less risky
I've worked in insurance for 10+ years. Flood insurance is NOT affordable because there's an inherent element of adverse selection. The only people buying flood insurance are those in flood-prone areas. Those who aren't in flood-prone areas don't buy it, so they aren't subsidizing the higher risk individuals.
Something to add on to this: If you are RENTING a home: Oftentimes your rental company will have you add them as the insured on YOUR rental insurance, meaning what used to be YOUR renter’s insurance for coverage when you got broken in to, had a fire, etc. will now go to the rental company and you will be on your bum.
this was something I faced when I rented an apartment after 9 years of owning. The insurance covered the owners property, but not my personal property!! I was shocked. So I left.
Not true...your renters insurance covers 3 separate parts. 1 your belongings..if you are robbed..or the building burns down your items are covered. 2. Relocation if a storm rips the roof off and you need a place to stay while the property is repaired they cover the costs...or if that storm knocked the place flat they pay to relocate you..YOUR LANDLORD can not receive a single cent from those first 2...AND 3 your liability THIS is the part where landlords insist on being listed as ALSO INSURED. ...if YOU fall asleep cooking and burn the place down YOU are 100% legally responsible to cover the losses to the landlord and thier insurance company...do YOU happen to have 100k to cover the landlords deductable sitting in your back pocket? Let alone rebuild costs of more than a million ? Each of those 3 parts have separate deductables..covered losses and limits. Hope this helps to educate those who are ill informed
How? Why? A rental company needs their own insurance to cover the property. The rental insurance is to cover your property in their property. The reason rental insurance is so cheap is that it isn't insuring the structure. Just your shit that likely amounts to far less. Any rental company that does this is super shady and likely doing other practices to pull one over on their tenants.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
@@mellon-wrigley3 Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Izella Annette Anderson for the last five years or so, and her returns have been pretty much amazing.
"Izella Annette Anderson" 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
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine. To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require. Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply. The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium. A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
@@BrianK-zz4fkyes he certainly attracted a lot of racist people they love his policies against LBGTQ against women Reproductive Rights book b a n s the list goes on and on of the types of people he's attracted to Florida
@@qbanz00 no, i really mean out of the scope of property rights, as the statute straight up doesn't recognise house ownership inside the sea boundaries.
Meanwhile, DeSantis refuses to acknowledge climate change & refused to allow the state energy dept to take climate change into account when setting policy which only increases the housing and insurance problems.
I moved to Clearwater, Florida in 2022 for my husbands job and rent has increased hundreds of dollars each year and currently no rent control. Home ownership is even more expensive with insurance increasing every year. Coastal Florida is no longer for the middle class, it is for the wealthy elite and investors.
This happens when you blame everything on "the other side" instead of focusing on solving the real problems. Detachment from reality is a fast track to ruin, regardless of political affiliation.
Amen. But to be fair I kinda enjoy watching people I don't like blame their problems on things that aren't actually causing the problem, because you know they're never going to fix them. That's why I never argue when people blame me for stuff.
Yeah….well take a look at demoncrap California. It’s worse there. No Floridians moving to California but lots of Californians moving into Florida. Hmm.
This is why people must be careful who they vote for and not what they represent. People need to ask hard questions from politicians, questions they don’t like, how are they going to govern the public. And most importantly who is funding their campaigns.
I was 5 ft above sea level in St. Pete FL and watched so many neighbors lose cars and homes due to flooding in the past 10 years. I left and moved North. I keep meeting Florida refugees. One guy was paying 15k a year in Ft. Lauderdale. I was paying $6k.
Better to live on the Pinellas ridge somewhere. 100+ feet above the gulf. Pinellas Park is always underwater, but not North Greenwood. Topography matters.
We have many homes built on land 5 ft. above sea level. the homes are built 20 ft. in the air. Why would anyone buy a home 5 ft. above sea level unless it was a scrape off.
@@turbo32coupe Because not that long ago, all of inland Pinellas was pretty ghetto and or trailer parks. Living along the coast was a flood risk but you were less likely to be robbed all the time and have meth heads riding bikes in front of your house all day.
Let's not ignore that you have state government caving into insurance lobbyists place more laws and making it hard for average citizens to get a cheaper rate. De Santis passed bills that allows Citizens Insurance to be competitive or raised their rates. Do you think Citizens executives care now they are bringing profits? Not much of a fight. Floridian didn't have a chance. I didn't vote for DeSantis and have suffered since. Florida government is beyond greedy and corrupt.
@@Jason-ml3vs According to a May 2024 report by S&P Global, the US homeowners insurance industry has averaged a combined ratio of 101.5% over the past 20 years, which means they've lost money. 2023 was the 3rd worst year during this time horizon, at 110.5%. They've been losing money for decades. Why should they continue to insure a bunch of boomers who want cheap insurance for their coastal retirement home that's been hit by 5 hurricanes?
This has nothing to do with below-expectation profits. They are flush with profits. I have an expectation of my salary to be. But sheesh, I never get it.
@@Jason-ml3vs No, they are leaving because they are sick and tired of fraudsters making them replace their 18 year old roof when it isn't leaking and there hasn't been a hurricane or anything, it's just that they don't want to have to pay to replace the old roof themselves and a roofer is willing to claim that they need a new roof not because it is 18 years old, but because there may have been a few hail stones that fell on it in a 15 minute storm 6 months ago.
It's almost like living in an area with 100% chance to be subjected to a hurricane in a house not built to withstand a hurricane is not a good idea. Insurance companies would have to be insane to insure these places.
Citizens insurance was totally solvent in the worst of worst cases, up until this asshat governor took money from Citizens and paid out private insurance companies...... The St. Pete Times did a multi-week article all about it. This started with Rick Scott......
How do you insure a sinking ship? With more intense storms, beach erosion, and king tides twice a year it will become more obvious that it doesn’t make a lot of sense to insure. coastal regions of florida. If a house is to be insured , a minimum elevation standard should be required to be eligible for insurance. Example 10 feet and above , and this does not mean putting your house on a ten foot pier type foundation. If insurance is available for less than ten feet, For every foot below ten feet your insurance premium should increase by 12%. Unfortunately this means only the rich would be able to afford the cost of living close to the water. The coast should probably be used for camping purposes. In the event of a storm campers can quickly evacuate, their stuff and return when the storm cleanup is over.
My insurance is now up to $4000/yr and I can pay it, but am unwilling to pay it. There are other options to living in the USA. Maurice in FL is staying no matter what, and he's going bare, with no insurance. He will lose everything eventually. This is corporate dictatorship gone mad.
You need insurance to get a mortgage, if a large portion of homes cannot be insured then people won't be able to get loans to buy them and it will create another housing crash.
If it was just one area of one state, that's a problem and needs evaluating. When hundreds of thousands of people are either denied coverage or can't afford it, and the worst happens -- as is now pretty much inevitable -- you will have mortgage banking collapse as people just walk away from their homes because they can't pay for repairs. You will have those same people homeless/on welfare/collecting unemployment. ER and Hospital bills won't get paid. Property taxes won't be paid. The state/county will have to clean up the mess in and around the remains of the abandoned houses or risk a health hazard. Stores and businesses the walk-aways patronized will go out of business. Huge areas will be abandoned and blighted, and it will spread as more business and home mortgage payments can't be met, more bankruptcies filed, more creditors underpaid or unpaid and in turn going under. The weight of all the mortgage failures will bring down major banks nationwide. A disaster. I'm sure if you think about it you can come but with more problems this can cause.
It creates the potential for that scenario. Potential consequences are talked about at 7:20 to 7:50. If one extrapolates that scenario across many neighborhoods, towns, and cities that becomes a major problem.
The risk profile for human habitation on the coasts of Florida has changed to unaffordable. That is reality. The rational response is to move to an acceptable risk environment. Large insurance companies are risk management capital pools with exquisite databases and risk analysts. When they leave an area in mass you should too, especially if you are poor. Poor people should be risk adverse security seeking, capital and income accumulators. Bad decisions have consequences.
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.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I spent most of my life in Florida, home and car insurance rates are outrageous and when disaster strikes the insurance companies will turn tail and run just to keep your money. Honestly at this rate the state should just run its own insurance fund. But in GOP controlled Florida that will never happen, they believe in the corporations right to pillage more than the actual people whom live there. Profit motivated insurance companies will always be scummy, last thing they want is to pay out money.
Flooding and violent storms are getting more frequent and more intense. As I feel horrible for the people that lost their homes and/or lives, the same people people deny climate change and vote against anything that helps our environment.
Bingo. They don’t want to try to stop climate change but they also don’t want to pay the cost for the damage of climate change. I feel bad for them, but this is the reality of climate change.
I’m in Florida 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 neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.
@@hunter-bourke21I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
Definitely! All of this happened in less than a year after *Izella Annette Anderson* told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.
As someone who works in insurance property restoration in Canada, the whole industry needs to be nationalised. Insurance, restoration, and all. We've got a good thing going at the moment but how long before they start cutting us back for profits? Stop insuring people? You already can't get roof coverage with a flat roof here, which is very common on older houses, and like it's mentioned in the video, you need insurance for a mortgage.
Pay outrageous premiums then they cancel you before a claim or require some insane construction, then they cancel you anyway. Goodluck getting payment on a claim.
Also renting at $2600/month for a 3/2 built in the 70s is whats fuckin up Florida. $1600 for crap 1/1 apartments. Ron doesnt care about renters or homeowners.
The shell game is this...Citzens denies your coverage annually and you reapply. They come back with a higher rate AND a list of improvements that need to be done or they will reject the new policy within 60 days. Even if you do the repairs, the new policy could be cancelled. I sold when Citizens wanted a 10 year old roof and 35 windows replaced. Lloyd's of London would have been my back up 'insurer." Advice...FL is great but do not buy a home made before 2000 and do not go naked with an older house.
Before Cat 5 Hurricane Michael destroyed my house in 2018 I dropped my unaffordable house insurance. This is real, and it has been going on for years. My rates were literally DOUBLED from one month to the next. I called and asked why, and was told the Public Service Commision had okayed rate increases according to zip code. In FACT, home owners across the street from me were not impacted by the increase, because they were in a different zip code. What really burns me up is that people who do not live in the coastal areas subsidize insurance for millionaires who own beachfront and low lying properties. (You ARE a millionaire if you own Florida beachfront properties) May I just say that Governor Bobblehead (DeSantis) is a horse's ass?
Well, I sold my house in California and due to this, paid cash for my current house in Nevada. I no longer pay for insurance. 47 years in my last house and only paying and paying and for what? I am very pro active to protect my home. Also do all the repairs INCLUDING the roof myself. Insurance is one of the greatest scams ever put over on us. And now when the costs go up.... the scammers don't want to insure you. Go figure. I'll take my chances.... we are totally on our own anyway. Though I'll argue this: If you don't want to get hit by a train, don't live on railroad tracks.
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine. To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require. Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply. The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium. A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
I've worked in the insurance industry for 10+ years. It's clear you have no clue wtf you're talking about. Although if you have some actual thoughtful facts or data points, I'd be all ears. Just a blanket statement like "entire XYZ industry is a scam" demonstrates a horrendous poverty of nuance, and lack of critical thinking.
Insurance is much like a casino in that they do enough research and leverage their bets to make a profit. That makes it almost seem like a scam, but it is in fact not. They do pay out, they’re just good at math and paperwork. They wouldn’t be in business if they didn’t win more often than not.
![ไข้ขึ้นเลย! เมื่อแฝดโดนจัดเต็มวัคซีนครบ2เดือน🤒 [cc] แดนแพทตี้ SS2 | EP.54 |](http://i.ytimg.com/vi/z2VHItnyyvY/mqdefault.jpg)
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Over the past three years, I have been working with an investment coach who has provided daily guidance on my investment decisions. With their expert analysis, I have realized gains of over 850k. Their insights have helped me avoid losses and capitalize on market breakthroughs, particularly during downtrends.
I’m intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
There are advisors in cities around you but I needed services of one who can guide me irrespective of location. ‘Melissa Terri Swayne’ comes highly recommended especially in times like this. I am hedging and haven't lost much to the recession. I found her in 2020 when the market was at an all time low. Look her up and thank me later.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
“This country has (social) welfare for the rich, and rugged individualism for the poor”. ~ MLK Jr.
dead on
👏 well said!
100%
@@lolalalia4119 I was going to say this. But yes, well said.
Oh, just another result of "Trickle Down" and Republican "Greed is Good" capitalism.
I’m in Kentucky and the housing insurance 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 quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods 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.
This is precisely why I like having an asset manager look over my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a manager for more than two years, and I've made over 85% of my initial amount.
Mind if I ask you to recommend this particular coach you using their service?
Rebecca Noblett Roberts, is respected in her field. I suggest delving deeper into her credentials, as she possesses experience and serves as a valuable resource
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
It's funny how you spend your whole adult life paying for all kinds of insurances and then.... they drop you to not pay up.
My combined insurance policies cost more of my fixed income than my space rent and utilities! And since I have an older mobile home, I can’t get an umbrella policy.
Almost like people retire to a state full of hurricanes and wonder why bad things happen lol
@@derekschommer1465 Except ... they didn't. Hurricanes were relatively rare, especially BIG ones.
Do you wonder what changed? Well we KNOW it's NOT THAT BS "climate change", right? Your caring, thoughtful Republican leaders (of all stripes, Federal and State) have told us over and over again that climate change is BS.
So have your beloved institutions - Exxon, Chevron, Ford, GM, PG&E, Duke Energy ... ain't NO WAY they are lying to you!
NOPE, MUST be those pesky EVs? Yes, that's it. The EVs are causing the big hurricanes!
@@derekschommer1465That's like saying "I hate earthquakes" then Move to Cali. 😂
Insurance is now basically a payment for the right to sue the company.
The perfect scam. Youre forced to buy a product for decades and when you go to use it, they fire you
Al Gore showed Florida 10 years ago that sea level rise was going to destroy most of it's land mass. That's Climate Change roaring down on all of us.
I'd say abandoned is a better description.
Insurance companies
where do you think it all stems from? Government down. It is bs. Should be a fucking law they can't do it.
You aren't required by law to have house insurance.
This is what happens when you don't have laws protecting consumers from corporate abuse.
How can you when those same Corporations PAY OFF the politicians who write the laws allowing them to do this to the public?...
#Today #Dentures & #Trump is #Trending
By the ways, Donald #Trump JUST #Threatened Joe Rogan on #Truth #Social !! MAGA's angry that #Rogan endorsed #RFK ..AND #Rogan just made #Fun of #GRUMPY 😂✌
#NOW even Elon Musk Elon Musk Xperience Elon University Elon Musk 💯💯 Elon Musk has #DUMPED #DonaldTrump #Trump , #82 is Toooo #OLD 🙉
This Week, they gave the #Senile #old #pussy #grabber Donald J. Trump a MIKE again 🙉Donald saying his 25000 size crowd was bigger than MLK's 1 million crowd at the same Venue, has gone Viral , #weirdo 😂✌
@@peacheswilliams4539its crazy how we all know, but yet all we do is complain on the internet
It’s the government that is abusing us. They are going to completely devalue the currency. That’s what’s happening with rising insurance and everything else. The more debt they create/the more they spend the less the dollars are worth/ purchasing power.We’re down to 3 cents of the original purchasing power of the dollar. 3 cents!! That’s why everything is going up. It’s called inflation and it is BY DEFINITION, money creation. Stop listening to BS propaganda and educate yourself on how our financial system, a DEBT BASED SYSTEM, works!
The big bankers own the insurance companies.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 56 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
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 3 years to consistently build my portfolio in preparations for retirement.
@@williamDonaldson432 My partner’s been considering going the same route, could you share more info please on the advisor that guides you
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 3 years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
as a health care professional, you should look into what private entities are doing to the healthcare system in America.
I’ve seen! Some of companies come in and bankrupt the company after they take their multimillion $ fee and close the hospital!
And look at who are the largest shareholders are of those private entities…follow the money and world control!
Yes! They are fleecing the people and the hospitals.
Some of us are quite aware of this but most are not, that's the problem, too many minds with blinders on.
I've read and seen where private equity firms are buying hospitals and then forcing doctors and nurses to take on more patients. Who benefits? Shareholders. Until we outlaw private equity firms from buying into the public domain, we'll see more and not less of this. For my own part, I'm leaving the United States. Forever.
Unpopular opinion: If a place is prone to natural disasters, maybe we should stop subsidizing/encouraging growth there
I pay under $800/year to insure a four bed, four year old home in NY state. Up about 10% year over year.
We are almost zero risk here, and properly regulated. It’s not an inferno so people actually go outside here, too.
All the people who say that love to live by the water. Thats the lure of Florida.
@@marshallj2415 but most of them don’t even use the water; they stay inside in their air conditioned bubbles.
It was that way... but the wealthy tend to get whatever they want in Florida
Same is true if you live in a forest fire area or a tornado alley.
Lobbying should again be a crime.
The trouble is not insurance costs but that we have stifled inflation with full labor force mobilization and computerization... but we haven't procuced that much more oil, iron, copper, or steel... or 5xed productivity in building. Building is where you can see inflation. So is insurance. The problem isn't even lobbying, it's the central banker usury system.
you should talk to your congress person about that
The issue is people would rather be sheep then have to get off their phones and do anything.. We will pretend voting matters
@@davidtomasetti8520 kek
@@user-rx162r No, the problem is corporate abuse. Period. You don't get to let these bastards off the hook by trying to blame the Fed like every libertarian does reflexively.
Thank you for the video. It’s gotten so bad. Here’s what I’ve paid in the past few years:
2019 $1850
2020 $2844
2021 $2673
2022 $3782
2023 $5830
2024 $6686
😢 ouch
And when a disaster happens and you need them, the insurance will tell you "it's not covered" :(
ALL insurance is going up. I started at $80/mo for private insurance to pay the 20% Medicare won't pay. I now pay $300/mo for the next step down in coverage. Many of you know how little Medicare actually allows and then pays 80% of. This $3600 policy just pays the final 20% of the small amount Medicare days is correct. Ridiculous.
Remember inflation is 3%
@@robertmanley26872.9% actually
These insurance companies are vile and unscrupulous. You're paying in for decades and when it's time to pay up, they do whatever they can to weasel their way outta paying your claim.
That's the insurance business model.....
It's the only industry I know of that is legally allowed to accept payment and never give anything in return for it.
That's how any insurance works.
Correction, these insurance companies offered a premium that was too low to insure the risks for these homes.
And what's interesting is all the small time insurers now that are taking over policies from Florida's public insurer of last resort, Citizens. They're all no-name insurers who almost certainly will flop the moment a storm hits and they won't be able to pay out all the claims. Even DeSantis' own insurance chief has said it's a disaster waiting to happen. No doubt Florida's legislators are counting on a federal FEMA bailout when the next storm hits. They've found a way to get American taxpayers to help subsidize Florida's insurance industry.
"Meanwhile, Governor DeSantis has taken $3.9 million in donations from the insurance industry" ...that's an interesting way to describe taking bribes.
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this..
Look this up and see for YOURSELF.. you want the answer here it is-
BY Valuetainment:
copy and search for:
" Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "
I just hope that DeSantis uses the Florida Tax money to send the homeless and migrants to sanctuary cities.
Spot *On!*
😮of course you go after the guy supporting Trump, and say nothing about the guy who took 31 million from China and left 70 billion dollars in high grade Military equipment in Afghanistan for the Taliban to parade around, the putz and his son have Bribes of tens of millions on a Laptop and you say nothing, but you go after Desantis, you got a Laptop with Desantis taking Bribes on the Laptop.
😮
This country has socialism for the rich, rugged individualism for the poor
I always laugh when insurance companies talk about keeping us safe.. just another con.
thats like when your dentist tells you dont worry , i will treat you like my brother
Insurance corporations are there to make a profit to pay those exorbitant executive pay checks.
America isn't a country. America is a corporation!
US is plutocracy and oligarchy.
They switched it on us...that is the problem
America is a corporation.. disguised as a country.
When founded, it was as a " Republic", not as many say, a " Democracy". There is a difference.
America is a country. Florida is a MAGA Cult State.
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!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
'Rebecca Nassar Dunne , a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
This is literally disgusting that we allow the rich and well connected to govern us all. PLEASE! SUPPORT NEW candidates to Congress and HELP US ALL turn the tide.
VOTE 💙 the GOP will dismantle consumer protection.
Hell yea bye bye incumbents
DeSantis received $3.5 billion from the federal government in 2023 for home owners insurance. He gave the money to the insurance industry with no plan on doing anything with it, and insurance companies left with the money.
I’m against using federal money to subsidize bad decision on infrastructure, home making, home ownership and bad choices. A good proportion was to elaborate some regulations to obligate insurers explain better to consumers why the insurance policy cost and have some sort of list to do things to lower premiums
Perhaps what De Devil wants is all those people to leave the state.... because it is considered beachfront property it can be sold to future developers and rich people.
@@Eyeris625 Rich people are rich people, because they’re making goods decisions throughout or pays someone to do that. They’re aiming to redevelop and sell to a bunch of naive. De Santis isn’t seeing the bigger future.
@@victortaveira8271 desantis and his hilly belly po;iticians are killing homeowners insurance. THEy are taking millions and do not do anything. DESANTIS and his budies need to vote out.
@@Eyeris625 same thing woulda happened with gillum in power. stop acting like ANY politicians will do something for you. they are all running for office because they are part of the cabal club.
Been a homeowner in Florida since 1999. Native Floridian. Over the past 2 years, my insurance went from $1700, to $4500. I live in the middle of the state. 70 miles from Gulf Coast. Desantas caused this. 100% to blame. The Insurance Lobby OWNS him & the GOP Majority.
no he didnt. the entire country ins prices have gone throug the roof.
@@BrianK-zz4fk not like florida magat. Bow down to Deathsantis and Orange Jesus. The chickens are coming home to roost. Go pray to Jesus.
@@BrianK-zz4fk no , Florida owns 84% of all claims in the country . Thats why insurance is so much lower in other states.
I think what you mean to say is that Florida accounts for at least 70% of all lawsuits related to homeowners insurance in the country, not 80% of the claims.
@@BrianK-zz4fk Florida's insurance rates are triple, if not more, the national average. That reinsurance fund the video mentioned, the one that "insures the insurers" -- that's $2 billion of Florida taxpayer dollars. We pay for our own insurance, and then we pay again for the insurers insurance. And if the insurers decide not to pay up, DeSantis has removed Floridians ability to sue to resolve that issue -- we get to just roll over and take it, and DeSantis was proudly praising this as such a wonderful thing. He's blocked several attempts by Florida legislators to reduce insurance rates and raked in millions from the insurance industry as campaign donations, all while our rates double pretty much every year -- with the governor's approval. It is 100% his blame to bear.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I knew a guy in the UK whose parents worked for an insurance company. They outright refused to buy any insurance they weren't legally required to buy. They knew first hand exactly how much of a scam insurance companies are selling.
Ron DeSantis doesn't believe in climate change but the insurance industry sure does.
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine.
To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require.
Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply.
The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium.
A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
This.
And so do Oil companies who use our tax dollars to beef up embankments around their coastal refiners for the rising water level.
Not even remotely accurate. Ron DeSantis didn't create this problem he's trying to correct it.
@@powerguymark By receiving donations from the insurance companies and writing bills for them? Yes? You're sure you know what you're talking about?
This is intentional. If insurance companies can cancel your insurance coverage, then you are forced to sell to private equity.
Private equity will buy them to convert to rentals
Make no mistake this is to convert homeowners to renters
And if you oppose it, you are called an America hating communist opposed to free markets and freedom in general. You want to take freedom away from people trying to make money.
Oh and the rental prices will be so high it’s 50% or more of renters take home pay
yay, unregulated capitalism!
small government!
This is true. Government doesn't want you to own a house....they want you to rent. Public Transit is another form of Government control....they don't want you to own cars...cars make one independent. Public Transit allows government to decide where you go, when you go, if you go and charge you for it!
🤢
Governor DeSantis sided with the insurance companies instead of the people
What! Oh my goodness
Quelle surprise!
He'll *always* side with corporations over citizens. That's pretty much all politicians in the US!
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this..
Look this up and see for YOURSELF.. you want the answer here it is-
BY Valuetainment:
copy and search for:
" Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "
You want to see WHO is Screwing with US?.. THE TRUTH.. they are EVEN suppressing this..
Look this up and see for YOURSELF.. you want the answer here it is-
BY Valuetainment:
copy and search for:
" Florida Insurance Rate Hike Crisis - BlackRock’s ESG Influence Causing Industry Exodus? "-
Why would any insurance company do business in Florida for zones? They are not going to insure homes that are likely to be destroyed in a 50 year period. The only way to offer it is to raise the rates to cover the future losses that are likely if not inevitable plus a profit. I'm not with an insurance industry but basic business states revenue needs to exceed expenses. Stop building in flood zones, change how homes are built and change expectations.
But... Florida is supposed to be a conservative utopia...
It is. This is as good as it gets for them.
It is, that's why the working class struggle there
Yes, a utopia for wealthy conservatives. No state income tax either.
Let me just point out that California is vastly different in political landscape, but experiencing serious issues with home an auto insurance companies comparable to Florida.
@@sarahdufresne6531let me point out Louisiana is being washed away by the ocean and insurance and politicians aren’t doing anything. It’s not a finger pointing contest. Both red and blue states need to do better ,
There should be a cap on what CEOs should be paid based on a % over the lowest paid employees wages..
Should, but it will never happen. It's like how AI could easily replace CEOs, But it will only ever be used to reduce labor that's paid less.
They get bonuses so it objectively based. The better the ants work, the more they profit.
There is a concept that "ethical employers" pay their highest paid person, no more than 4 times (or sometimes 6 times) what their lowest paid employee gets. Note that there are extremely few such "ethical employers". We see various figures, such as that CEOs all to often get a multiple of somewhere between 400 and 4000 times, what their lowest paid employers get.
Naw
Bernie proposed this.. he calls it a Maximum wage issue.
Born and raised Floridian 🙋♂️ and D@cksantis was out trying to be president instead of working to fix our insurance crisis
Ronnie D has no interest in and was never going to fix any of the problems in Florida because all of those problems make the people that donate to him richer.
This above statement
Ron’s a loser and so are his supporters.
Didn't he get the rules changed so he could stay governor while running for President? Makes you think....Doesn't seem like he cares much. He's more concerned about getting into higher office.
@@itsdarkout10 yes he did. Thank GOD he can't do the same thing for term limits since it's written into the state constitution which can only be changed by state wide referendum and has a higher than 50% threshold requirement for amendments to pass ( I think it's 60% but I'm too lazy to look it up). So one way or another he is out at the end of this term.
I live in Florida.And Before I purchase a plot of land made sure I wasnt in a flood risk zone.Have yet to get flooded.had property since 2018.Dont need flood insurance
corporate greed is killing America
That and the NWO😮
But politicians have some people convinced that it’s Woke issues, LGBTQ, and CRT that are the issues that need to be addressed.
I already did
And attempts to address it will have people in trailer parks screeching “socialism”!!! So deep and effective the propaganda has been.
@@spaceindian3769 Right, as if everyone knows wtf is NWO
Hey Florida, public insurance sure sounds like the socialism you always complain about
Right? I wonder how many people complaining about these rate hikes voted for those politicians and policies.
@@AltruisticWarriormost of them. American middle class are the dumbest voters.
@@AltruisticWarrior All of them!!!!!
yup I dont want to pay for coastal elites when their porperty gets damaged 😂
🤣
this was a long way to the same old: "privatize profits, socialize losses".
But it keeps needing to be said because many still dont get it
Well that is the exact purpose of "insurance" - to socialize losses.
These shady insurance companies are private.
Sounds like the problem isn’t insurance but rather people building homes in areas guaranteed to take on significant damage.
One of the major reasons I fled Florida a month and a half ago after living there for 27 years. Florida is literally a state in crisis, yet people blissfully go about their lives as if everything will be ok. There’s the insurance crisis detailed in this video, a housing affordability crisis (which insurance plays a part in), a hurricane crisis with hurricanes routinely hitting Category 4 & 5, a cost of living crisis…. I didn’t want to be the last man standing.
I'm happy for you. I wish I could but now I'm so sick and old, that I can't just pick up and move anymore.
Ah…Climate crisis, too? Try getting a 30-year mortgage on Miami Beach. The bank will laugh at you while writing a check to a climate-denying Super PAC.
Dont forget the brain drain. The fascist problem, the fear of books and education problem, and the corrupt republican problem.
@@burnout_2017I'm one of those that left, for both those reasons after 15 years living in FL. Much happier now!
@@lee-suhuang5326 im leaving in october with a big smile on my face. Im taking my vote and my money to a state where the vote matters... PA. My vote means nothing here and i cant stand the people anymore. After 33 years ive had enough of this dump.
So many floridians, with their staunch capitalism are surprisingly dependent on government social programs.
Republicans are fluent in new speak and double think!
How true.
Their version of capitalism is awesome. They make all the money, and stick the bills on people who told them not to live there when things go bad.
Exactly
You don't live in Florida and obvious don't understand it. Why are you talking?
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
Jessica Lee Horst a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I live in Florida. I live in a 4 yr old, new construction home, 2 - 3, valued at $280k. No pets. No pool. We both have 800 credit score. My homeowners annual premium is $575. Oh, BTW, I DONT LIVE ON THE WATER!!!!!
I love how it's always socialism for the rich and rugged individualism for the poor.
Goldman gets bailouts, average people get, "Live in a van."
You motivate the rich by giving them things and motivate the poor by taking things away from them !! lol 😂
You motivate the rich by giving them things and motivate the poor by taking things away from them ! lol😂
No. The poor have free or low cost options from the government in many areas---FEMA, healthcare, housing, etc.
It is the Middle Class that are offered zero help.
True. Renters get nothing. Homeowners get subsidized loans and now want subsidized insurance...
Maybe if the insurance industry didn’t spend so much on influencing politicians, they would have money to pay claims.
This is yet another perfect example of people voting against their own interests.
All the people in FL who voted for Gov Go-go Boots and his Republican Party in the legislature have inherited the precise outcome they did unto themselves. I have zero pity or sadness for them because of this.
What are people to do? The Democrats are offering up crappy alternatives. If I vote blue I might benefit towards the fight against insurance issues but then I’m stuck with all the other garbage issues the Democrats are supporting today. Bring the Democrat Party back to the middle and I would support them. Give me a Democrat candidate that has common sense. Abortion, LGBTQ, transgender, etc. are not issues that should be at the forefront of. Focus on the economy and safety instead of the foolish stuff. That’s why Desantis ran away with it.
It's easy to feel like this when you're not the one suffering. There was many of us who didn't want him, I myself voted for another instead of this idiot. It's not only Idiotic Republican DeSantis worshippers here
Oh, I guess we should have voted for the meth user Gillum,...you remember him, the guy from Tallahassee who was under investigation by the FBI. The guy you probably voted for, so don't lecture us about DeSantis who is the best Governor in the country.
It's the weather and DeSantis gave lawyers the boot. You complain but don't understand what happened.
I am sooo happy and fortunate to be living in Canada and we have healthcare, pharmacare, lots of clean water, $10 per day day care etc, etc. etc. .......paid thru taxes and much much much more in the way of benefits.
Considering the prevailing inflationary conditions, it appears improbable that the stock and housing market will register substantial gains in the immediate future. Therefore, it is advisable to temper one's expectations and acknowledge the potential length of the market's recovery period. It is my professional opinion that it would be prudent to defer any significant investment decisions until the economic environment stabilizes in areas of concern. Until then, exercising caution and refraining from engaging with the current turbulence would be the most judicious course of action.
Focus on two key objectives. First, stay protected by learning when to buy and sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.
A steadfast commitment to reputable companies requires either holding steady during market downturns or increasing investments during such times. This strategy is based on the fundamental belief that well-managed enterprises will eventually rebound with renewed strength. On the other hand, investors seeking long-term profits through stock appreciation should seek guidance from a FA to identify opportune entry and exit points. My own experience during the pandemic highlights the value of working with an investment advisor, which resulted in a significant gain of $630k in just 8 months.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Vivian Jean Wilhelm 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.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I’m in Florida and I do not have flood insurance. The home insurance crisis is likely what will push me and my wife out of the state rather than the two of us living and growing here
This is God telling you to move out of the state scheduled to be under water in your childrens' lifetimes.
I’m also in FL. Had flood insurance but dropped it after the 40% increase in our premium this year (with no claims & a 2 year old house). Our home owners insurance policy has gone up every year also, despite again no claims & a 2 year old home. I’ve never seen anything like it and this is my 4th home, the 2nd in Florida.
@@missyyy- ..but you're still there....get out while you can.
@@davidcottrell1308 my LIFE is here.
@@missyyy-this is by design. The rich people make it hard to live there, so loads of people leave and sell their homes for cheap. Rich people buy up the distressed properties. Then donate to republicans.
Born and raised in Florida, returned after a military career. Moved in May because of homeowner insurance. Between 2021 and 2022 it almost doubled. Only 1 claim in 18 years.
I will never gi back to live. Now renting a house on a military installation in Ky to be close to daughter. Best decision we ever made.
Good ideas. Enjoy that time with the daughter......you can always visit Florida when you are not enjoying the rest of the great country you served. tHanks
2021 and 2022.... two or three hurricanes that year, right?
I’ve only lived in Florida for 10 years and I am leaving in September. Moving to Pennsylvania to be closer to my family in jersey but I’ll be honest this whole property insurance problem is a also a big motivator. I am also tired of the hurricanes and the heat.
@@Dancing_Alone_wRentals thanks we will. We will follow her to wherever she gets relocated to and when she retires in 8 years, we will settle down then.
@@jusletursoulglobaby There are always 2 or 3 hurricanes in Florida. Always has been.
Just came across your channel. Kudos to these reporters and journalist for bringing us these important stories. Keep up the great work. Gratefully, a new fan.
If it floods so much in Florida why aren’t homes built in a way we’re damage would be minimal? Anyone in Asia or Europe would laugh at the type of construction materials that are used here in the US.
A lot of homes are now built in a way where damage would be minimal, such as using cinder blocks instead of plywood or other materials. I’m not a builder or expert at this so if I use the wrong terminology I’m sorry, just repeating what I’ve seen and been told. Homes in certain areas, like near the water or in major flood zones must be built on stilts up in the air unless they were built a certain number of years ago they’re grandfathered in. I lived in a single story house right on the water for a bit and it was one that was grandfathered in while the newer houses on my same street were built up on stilts because they were newer. However, I have seen new apartment complexes going up recently made with plywood instead of concrete cinder blocks which is very concerning… especially thinking a lot of new transplants will probably rent there and not know the building is made out of plywood and is not great for withstanding powerful hurricanes.
I’m not defending anything, just wanted to offer a response ☺️ also, I want to GTFO of Florida so so bad but I can’t move right now.
Mobile homes with improper foundations are primary Victims.
Chernobyl (TV Mini Series)
Valery Legasov : Why? For the same reason our reactors do not have containment buildings around them, like those in the West. For the same reason we don't use properly enriched fuel in our cores. For the same reason we are the only nation that builds water-cooled, graphite-moderated reactors with a positive void coefficient.
[pause]
Valery Legasov : It's cheaper.
Because a HURRICANE resistant house is expensive as hell.. and the insurance on it is still expensive because of the risk ! Even with a hurricane resistant house it can still be torn to shreds by Mother Nature . And people who lived in those areas before it got so bad have to bear the burden of those price hikes because of being in a “risk zone” that insurers created .. hence the reason working class people get pushed out.
we have some of the strictest buildng codes in the nation. Homes are built of concret block. We are constantly hardening our homes with hurricane proof windows and other improvements. Hard to find a wood frame home like in other parts of UD.
Before having watched this video, I’d like to say that this topic is extremely relevant, and I predict that it will become increasingly more relevant with every passing day for all working class Americans...the time to be unified as a people is NOW, friends... we have much work to do.
✌️ ☮️ 🕊 💙 ✌️ ☮️ 🕊
It’s sad about the insurance problems but I also don’t like that people are building in disaster prone regions and then believe they deserve a bailout. All these homes are expensive and should be built to standards to survive the region they are in.
This is s good point. If states helped people whose homes are in risky areas and get destroyed, to rebuild elsewhere in the state, the homes would be insurable and the state would benefit in several ways. Rather than rating certain areas as flood-prone, declare them no-build zones and help people to leave. It's not a free market choice when you choose risk, and your neighbors end up paying to bail you out.
100% with climate change and the increasing frequency of hurricanes, we need to stop the federal FEMA unconditional bailouts every time there's a major disaster in Florida. They need to learn to accept the risk they've taken by living there. Americans shouldn't be subsidizing your cost of living.
If they want to live there, fine, but you'll have to actually pay realistic insurance rates where insurers can't count on federal bailouts every time something bad inevitably happens.
The rates need to accurately reflect the risk. And that isn't happening while DeSantis allows no name smalltime insurers to underwrite policies, insurers that will almost certainly flop if they actually have to pay out on these policies.
Rich people want waterfront homes. The rest of will pay for them.
Or not built at all. Pretend like there's no such thing as insurance
You're absolutely right. Society absolutely should NOT subsidize building in more risky areas. Those areas are going to get absolutely clobbered more and more. We cannot absolutely cannot afford to keep rebuilding in these areas it's impossible disasterwise
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.
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.
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.
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Gotta love what DeSantis’ priorities are.
This is happening all over the US, but you bought the Desantis narrative, hook line and sinker. Hhmmmm
Yeah!
He says a few obvious , common sense truths about some obvious tyrants & people fall for his bs or ignore his tyrannical actions
$$$.
collecting his pay checks, and what ever else.
Who knew you could get worse than Rick Scott?
And Texas is dealing with this as well.
Yes! Just commented about TWIA. I'm in coastal Houston/Galveston. State farm, TWIA, and FEMA have completely screwed us and now we're going to have to pay higher electricity rates cuz the PUC has been captured by energy lobbyists.
Between Sept 2023 - March 2024, every Texas user had their energy bills raised roughly $50 per month for "weatherization" - they got literally BILLIONS just from residential energy users despite giving the republican politicians record level donations after finding them not liable for the deadly winter storm Muriel.
Voting Republican is the problem
@@jim0311 Texas is heavily gerrymandered, has some of the most restrictive voting laws, regularly purges voting rolls, and election integrity offices in democratic cities are being closed by the state. Are votes quite literally don't matter. Houston ISD school board is a perfect example. Gov Abbott removed all the school board members that WON their position in an election and replaced them with his cronies, some of whom even LOST their election just a few months prior.
Don't blame Texans for something we cannot control. Every time the GOP loses popularity, they change the laws.
@@jim0311yah because New York and California are haven of peace
Trump!!! 😓 Harris!!! 😔 Boff of them phony
Bottom line .Ron DeSantis is owned by Corporate interest OR a complete fool that can be handled easily by Insurers. There is no 3rd option.
DeSantis never told people to build houses directly in Hurricane Alley.
@@jimmyday9536 Lol, he's still taking big donations by Big Insurance. Boot lickers.
All politicians are owned by someone.
Why not both?
@@lahicks9773 Wrong!, I agree that's the perception. DeSantis's situation is very obvious which means he is very secure with Authoritarian control of Florida (no exaggeration)
Allstate dropped me after 22 years. They said it was too old. I live in a very stable area with no natural disasters. Those are hands you don't want to deal with, believe me.
DeSantis and his policies to enrich the insurance industry has destroyed Florida. 🤦♂️😪
It happened well before DeSantis. We had 4 hurricanes in one year and the insurance companies cancelled many people. Florida, officially known as the “Sunshine State,” was dubbed the “Plywood State” by media after it was battered by four hurricanes in only six weeks during the 2004 hurricane season.
While Desantis is guilty of plenty, the insurance crisis isn't one of them. This has been brewing for 20 years now and it is mostly driven by rampant insurance fraud.
You got what you voted for, not necessarily you per se. FL governor is psycho, how's that working for you Florida?
@@DonaldDolph-ob8yv No you Communists are Psycho and we know it.
@@DonaldDolph-ob8yv Not well. He is a raging dumpster fire, but the blame for the insurance crisis can't really be laid at his feet nor is it the fault of hurricanes.
How are these people voting for DeSantis?
Voting against their self interests is the dumb poor republican voters top priority. They keep doing it again & again.
Stupidity and ignorance
@@burnout_2017 mixed with racism and bigotry.
Republican voters in Florida love being screwed over by Republican politicians
Republicans love deregulation and have been pushing for it and voting for it for 30-40 years....We are now seeing those results of the corporations having the power over the people.
DeSantis is a complete failure for the people of Florida unless of course your an Oligarch.
Most politicians are tearing our country apart for the rich. We poors are depicted as black and white version of the opposite party as the enemy. But the real enemy is the rich lobbyers . We never get what we vote for.
A PSYCHOPATH LUNATIC
I wonder how many people who ate from the palms of his hand and praised him actually despise him now . 😂
It is the UniParty. They are all part of the problem because they are bought.
@@qbanz00 We'll see at the next election.
People who think they aren't affected by the climate crisis are living in a bubble.
Democrats are causing a bigger affect...
I'll bet you don't even own an electric car
Poor woman paid her premiums for 40 years and is denied her claim after failing to properly advise her and canceled her insurance!
And with the new laws, she can't sue.
and she cannot sue
The insurance for my Truck was around $900 a month in Florida.
When i moved to Illinois, I was expecting things to be more expensive considering how much I was bombarded in Florida about how expensive it would be to move to a blue state.
After moving all my paperwork for my Insurance to IL while keeping the same protections, my insurance went from around $900 a month to $160.
I have the same issue with my motorcycle, my motorcycle insurance is close to $300 in Florida, and switching it to IL will lower it significantly.
Its not just home insurance thats a huge problem in FL
We live in Florida 10 minutes from the coast and both mine and my spouses car insurance together is only $126 a month for full coverage.Depending on if there has been any accidents in the last 5 years, ones current credit score, that persons age, which deductible plan one chooses, year and make of vehicle etc. are factored in when getting a quote.
@@ShutterEmotions123 Those factors should not have resulted in a $900 insurance plan in one place and $180 in another. Thats a huge difference and i find it extremely problematic.
These insurance companies are not applying those factors in any reasonable way for a lot of vehicle and homeowners. Insurance is a huge problem in Florida. They are abusing people
Smart getting away from here.
In Florida we do a lot of "freedom happy talk," while promoting hate & sticking it to anyone who doesn't have a trust fund!
This is the across-the-board attitude of Governor DeSantis & GOP Legislature. A lot of "Heads I win, Tails you Lose!" But we're good at pushing the low tax, lot of sunshine brand.
Just never let you know that our "insurance & fees" skyrocket on a yearly basis while our services crater!😳🤔
Exactly! I call it the Florida Scam and what you pointed out isn't even the half of it!
California is experiencing the same issues without hurricanes. And electricity costs 5x as much as well. So maybe your blame is misplaced.
Why I fled the state after 27 years there. I sleep much better now.
It's not. @@mrb152
@@mrb152 it's true all the other states are experiencing the terrible consequences of the fossil fuel caused climate catastrophe. But it's the right wing bandwagon always orchestrating blame and hate against "California" as if it's the "only state." Despite Florida Scam is actually much worse. Florida Scam has been draining all the other states for decades. I'll never forgive Florida Scam for taking our grandparents from us here in West Virginia and Kentucky and then "giving back" pills from the Florida pill mills. But to hear the "trickle down" crime syndicate tell it, "everything is 'California.'" My AS$!
About a half a mile from me an entire block is condemned because of sinkholes. This is not that unusual in Florida. This accounts for a huge problem here in the insurance industry and most people out of the state do not understand this. It costs around 40K to fix a sinkhole minimum. Minimum. Probably a 100k is more like it. Now ask yourself again why we might have an insurance problem here.
That's what happens when an industry is allowed to take over with no accountability. I guess people should just stop getting insurance on their homes in the first place. What's the point when they never want to pay up? Why should we pay good money for nothing??
Murphy's law. 😢
@@whatgoesaroundcomesaround920 No, sorry. These companies CHOOSE to rip people off. That's not Murphy's Law. That's unscrupulous, immoral selfishness.
Unfortunately if you have a mortgage through a bank you don’t have a choice, you have to have it. People are literally going into foreclosure BC they can longer afford their mortgage payment with the insurance increases.
Mortgage companies require it. They will force place it.
"they never want to pay up..." The US homeowners insurance industry has on average lost money over the past 20 years. So they are paying up. The older lady in the video is an example of why you should READ and UNDERSTAND your policy. Know what's covered and what's not.
To be clear, this is what happens when government caters to corporations instead of people. If corporations can not or will not protect citizens, then the government must step in and provide the service or regulate the industry. The government already does this for flood insurance which is reasonable and affordable.
The government's job, its ONLY job, is to take care of its people. Whether it's building highways, providing solid military defense, helping seniors with Medicare, or whatever, if it's not taking care of its people it's an abject failure.
No, this is only protecting the wealthy too. Those who build houses in expensive places right by the water. People living in less risky, less fancy places pay for this. It also operates in the red.
@@lightowl4345not many places in the states these days that would be considered less risky…. Increasing large scale fires in the west, increasing amount of tornadoes in the Midwest/south, and increasing amount of hurricanes on the East coast along with more intense and damaging winters around the Great Lakes region really makes it so there really is not many places to live that are less risky
Government works for the corporations.
I've worked in insurance for 10+ years. Flood insurance is NOT affordable because there's an inherent element of adverse selection. The only people buying flood insurance are those in flood-prone areas. Those who aren't in flood-prone areas don't buy it, so they aren't subsidizing the higher risk individuals.
Something to add on to this: If you are RENTING a home: Oftentimes your rental company will have you add them as the insured on YOUR rental insurance, meaning what used to be YOUR renter’s insurance for coverage when you got broken in to, had a fire, etc. will now go to the rental company and you will be on your bum.
this was something I faced when I rented an apartment after 9 years of owning. The insurance covered the owners property, but not my personal property!! I was shocked. So I left.
Not true...your renters insurance covers 3 separate parts. 1 your belongings..if you are robbed..or the building burns down your items are covered. 2. Relocation if a storm rips the roof off and you need a place to stay while the property is repaired they cover the costs...or if that storm knocked the place flat they pay to relocate you..YOUR LANDLORD can not receive a single cent from those first 2...AND 3 your liability THIS is the part where landlords insist on being listed as ALSO INSURED. ...if YOU fall asleep cooking and burn the place down YOU are 100% legally responsible to cover the losses to the landlord and thier insurance company...do YOU happen to have 100k to cover the landlords deductable sitting in your back pocket? Let alone rebuild costs of more than a million ?
Each of those 3 parts have separate deductables..covered losses and limits.
Hope this helps to educate those who are ill informed
@@anniesshenanigans3815when you rent the owners insurance never covers your losses...that is WHY renters insurance exsists
How? Why? A rental company needs their own insurance to cover the property. The rental insurance is to cover your property in their property. The reason rental insurance is so cheap is that it isn't insuring the structure. Just your shit that likely amounts to far less.
Any rental company that does this is super shady and likely doing other practices to pull one over on their tenants.
@@nolongeranurse3369 I know that... but the owners insisted that the renters buy insurance that covered the property.. not my stuff.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
@@mellon-wrigley3 Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Izella Annette Anderson for the last five years or so, and her returns have been pretty much amazing.
"Izella Annette Anderson" 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
DeSantis doesn’t give a crap about the average Floridian.
Just wealthy billionres.
he seemed to make policies that attracted people to want to move here?
@BrianK-zz4fk Ummm... nah
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine.
To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require.
Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply.
The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium.
A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
@@BrianK-zz4fkyes he certainly attracted a lot of racist people they love his policies against LBGTQ against women Reproductive Rights book b a n s the list goes on and on of the types of people he's attracted to Florida
"If your house is Literally Underwater. Just sell it." -Ben Shapiro
If your house is underwater, there's nothing to sell anymore, you've already forfeited your property...
People dont buy such houses..so the smartass comment is dumb and unwarranted...but funny..lol
TO WHO BEN FKING AQUAMAN?
Underwater house for sale .. yeah , get bought out by a corporation for $100 bucks if you’re lucky 😂 … or pay someone to take it
@@qbanz00 no, i really mean out of the scope of property rights, as the statute straight up doesn't recognise house ownership inside the sea boundaries.
Meanwhile, DeSantis refuses to acknowledge climate change & refused to allow the state energy dept to take climate change into account when setting policy which only increases the housing and insurance problems.
And what are you supposed to do about "climate change"? Tax everyone and make Al Gore rich?
I moved to Clearwater, Florida in 2022 for my husbands job and rent has increased hundreds of dollars each year and currently no rent control. Home ownership is even more expensive with insurance increasing every year. Coastal Florida is no longer for the middle class, it is for the wealthy elite and investors.
This happens when you blame everything on "the other side" instead of focusing on solving the real problems. Detachment from reality is a fast track to ruin, regardless of political affiliation.
Amen. But to be fair I kinda enjoy watching people I don't like blame their problems on things that aren't actually causing the problem, because you know they're never going to fix them.
That's why I never argue when people blame me for stuff.
A Republican looking out for big business (clutches imaginary pearls). No way! 😅😢
Yeah….well take a look at demoncrap California. It’s worse there. No Floridians moving to California but lots of Californians moving into Florida. Hmm.
This is why people must be careful who they vote for and not what they represent. People need to ask hard questions from politicians, questions they don’t like, how are they going to govern the public. And most importantly who is funding their campaigns.
When I moved to Miami in the early 1960s, nobody had homeowners' insurance. Mortgage companies didn't even require it.
I was 5 ft above sea level in St. Pete FL and watched so many neighbors lose cars and homes due to flooding in the past 10 years. I left and moved North. I keep meeting Florida refugees. One guy was paying 15k a year in Ft. Lauderdale. I was paying $6k.
Better to live on the Pinellas ridge somewhere. 100+ feet above the gulf. Pinellas Park is always underwater, but not North Greenwood. Topography matters.
@@Cuandoman rather than do that I sold it to an unsuspecting northerner and tripled my investment.
We have many homes built on land 5 ft. above sea level. the homes are built 20 ft. in the air. Why would anyone buy a home 5 ft. above sea level unless it was a scrape off.
@@Bradimoose To each their own!
@@turbo32coupe Because not that long ago, all of inland Pinellas was pretty ghetto and or trailer parks. Living along the coast was a flood risk but you were less likely to be robbed all the time and have meth heads riding bikes in front of your house all day.
When insurance companies up and leave because they can't make a profit, you know things are bad. And it will get worse.
They leave because they cant make the profit they think they should.
Let's not ignore that you have state government caving into insurance lobbyists place more laws and making it hard for average citizens to get a cheaper rate. De Santis passed bills that allows Citizens Insurance to be competitive or raised their rates. Do you think Citizens executives care now they are bringing profits? Not much of a fight. Floridian didn't have a chance. I didn't vote for DeSantis and have suffered since. Florida government is beyond greedy and corrupt.
@@Jason-ml3vs According to a May 2024 report by S&P Global, the US homeowners insurance industry has averaged a combined ratio of 101.5% over the past 20 years, which means they've lost money. 2023 was the 3rd worst year during this time horizon, at 110.5%. They've been losing money for decades. Why should they continue to insure a bunch of boomers who want cheap insurance for their coastal retirement home that's been hit by 5 hurricanes?
This has nothing to do with below-expectation profits. They are flush with profits.
I have an expectation of my salary to be. But sheesh, I never get it.
@@Jason-ml3vs No, they are leaving because they are sick and tired of fraudsters making them replace their 18 year old roof when it isn't leaking and there hasn't been a hurricane or anything, it's just that they don't want to have to pay to replace the old roof themselves and a roofer is willing to claim that they need a new roof not because it is 18 years old, but because there may have been a few hail stones that fell on it in a 15 minute storm 6 months ago.
It's almost like living in an area with 100% chance to be subjected to a hurricane in a house not built to withstand a hurricane is not a good idea.
Insurance companies would have to be insane to insure these places.
Citizens insurance was totally solvent in the worst of worst cases, up until this asshat governor took money from Citizens and paid out private insurance companies...... The St. Pete Times did a multi-week article all about it. This started with Rick Scott......
Maybe we should have a non-profit public option... yeah, that's it... oh wait.
@@Bob-Fields If I get to vote on it, I will vote to not insure high disaster places like Florida.
How do you insure a sinking ship? With more intense storms, beach erosion, and king tides twice a year it will become more obvious that it doesn’t make a lot of sense to insure. coastal regions of florida. If a house is to be insured , a minimum elevation standard should be required to be eligible for insurance. Example 10 feet and above , and this does not mean putting your house on a ten foot pier type foundation. If insurance is available for less than ten feet, For every foot below ten feet your insurance premium should increase by 12%. Unfortunately this means only the rich would be able to afford the cost of living close to the water. The coast should probably be used for camping purposes. In the event of a storm campers can quickly evacuate, their stuff and return when the storm cleanup is over.
Insurance doubled. Owners and renters can't afford it!
The market is telling you it’s time to go .
My insurance is now up to $4000/yr and I can pay it, but am unwilling to pay it. There are other options to living in the USA. Maurice in FL is staying no matter what, and he's going bare, with no insurance. He will lose everything eventually. This is corporate dictatorship gone mad.
"Take down the entire American economy" will need more explanation.
You need insurance to get a mortgage, if a large portion of homes cannot be insured then people won't be able to get loans to buy them and it will create another housing crash.
If it was just one area of one state, that's a problem and needs evaluating. When hundreds of thousands of people are either denied coverage or can't afford it, and the worst happens -- as is now pretty much inevitable -- you will have mortgage banking collapse as people just walk away from their homes because they can't pay for repairs. You will have those same people homeless/on welfare/collecting unemployment. ER and Hospital bills won't get paid. Property taxes won't be paid. The state/county will have to clean up the mess in and around the remains of the abandoned houses or risk a health hazard. Stores and businesses the walk-aways patronized will go out of business. Huge areas will be abandoned and blighted, and it will spread as more business and home mortgage payments can't be met, more bankruptcies filed, more creditors underpaid or unpaid and in turn going under. The weight of all the mortgage failures will bring down major banks nationwide. A disaster. I'm sure if you think about it you can come but with more problems this can cause.
It creates the potential for that scenario. Potential consequences are talked about at 7:20 to 7:50. If one extrapolates that scenario across many neighborhoods, towns, and cities that becomes a major problem.
I thought this video left that hanging as well.
The risk profile for human habitation on the coasts of Florida has changed to unaffordable. That is reality. The rational response is to move to an acceptable risk environment. Large insurance companies are risk management capital pools with exquisite databases and risk analysts. When they leave an area in mass you should too, especially if you are poor. Poor people should be risk adverse security seeking, capital and income accumulators. Bad decisions have consequences.
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.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.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 spent most of my life in Florida, home and car insurance rates are outrageous and when disaster strikes the insurance companies will turn tail and run just to keep your money. Honestly at this rate the state should just run its own insurance fund. But in GOP controlled Florida that will never happen, they believe in the corporations right to pillage more than the actual people whom live there. Profit motivated insurance companies will always be scummy, last thing they want is to pay out money.
Very true. Imagine a company actually trying to make a profit. Pure greed, I say. LOL.
Flooding and violent storms are getting more frequent and more intense. As I feel horrible for the people that lost their homes and/or lives, the same people people deny climate change and vote against anything that helps our environment.
Bingo. They don’t want to try to stop climate change but they also don’t want to pay the cost for the damage of climate change. I feel bad for them, but this is the reality of climate change.
Floridians can thank DeSantis for ripping them off yet again.
I’m in Florida 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 neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.
@@hunter-bourke21I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
Definitely! All of this happened in less than a year after *Izella Annette Anderson* told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.
Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call
As someone who works in insurance property restoration in Canada, the whole industry needs to be nationalised. Insurance, restoration, and all. We've got a good thing going at the moment but how long before they start cutting us back for profits? Stop insuring people? You already can't get roof coverage with a flat roof here, which is very common on older houses, and like it's mentioned in the video, you need insurance for a mortgage.
Pay outrageous premiums then they cancel you before a claim or require some insane construction, then they cancel you anyway. Goodluck getting payment on a claim.
Also renting at $2600/month for a 3/2 built in the 70s is whats fuckin up Florida. $1600 for crap 1/1 apartments.
Ron doesnt care about renters or homeowners.
The shell game is this...Citzens denies your coverage annually and you reapply. They come back with a higher rate AND a list of improvements that need to be done or they will reject the new policy within 60 days. Even if you do the repairs, the new policy could be cancelled. I sold when Citizens wanted a 10 year old roof and 35 windows replaced. Lloyd's of London would have been my back up 'insurer." Advice...FL is great but do not buy a home made before 2000 and do not go naked with an older house.
Before Cat 5 Hurricane Michael destroyed my house in 2018 I dropped my unaffordable house insurance. This is real, and it has been going on for years.
My rates were literally DOUBLED from one month to the next. I called and asked why, and was told the Public Service Commision had okayed rate increases according to zip code. In FACT, home owners across the street from me were not impacted by the increase, because they were in a different zip code.
What really burns me up is that people who do not live in the coastal areas subsidize insurance for millionaires who own beachfront and low lying properties. (You ARE a millionaire if you own Florida beachfront properties)
May I just say that Governor Bobblehead (DeSantis) is a horse's ass?
if you don't live on the coast and don't have a mortgage, you might be able to live without insurance.
@@rlkinnard Until it takes your house away.
Absolutely nothing about capitalism, and corporate GREED , surprises or shocks me .
Capitalism drives greed though
It’s always the republicans 😂
Right! The insurance lobby has never given a penny to any democrat. That's a scientific fact! lol
Always!
Follow the money, it's not that difficult.
Well, I sold my house in California and due to this, paid cash for my current house in Nevada. I no longer pay for insurance. 47 years in my last house and only paying and paying and for what? I am very pro active to protect my home. Also do all the repairs INCLUDING the roof myself. Insurance is one of the greatest scams ever put over on us. And now when the costs go up.... the scammers don't want to insure you. Go figure.
I'll take my chances.... we are totally on our own anyway. Though I'll argue this: If you don't want to get hit by a train, don't live on railroad tracks.
And yet Florida votes Republican😂😂😂
And abused children don't want to leave their abusive mothers.
California is blue and they are having some of the very same problems.
Bro blue state house isnt even fucking buyable lets alone insurance 😂😂@@Heather-db6wq
DeSantis has no control over the banks enforcing people to pay for home insurance on a property under their loan. He literally has zero to do with the problem, it's the private financial sector that's been lobbying the federal government for more and more power. Those same people pulled off a villain arch with the covid vaccines. Insurance companies giving doctors bonuses so that people were coerced into using the untested vaccine.
To assume a state governor has any power in the market that the federal government dictates is wildly obtuse. If we were still under the articles of confederation before the constitution was written, maybe your blame on Desantis is correct, however, it's not. States have zero to say what the federal government deems legal money, nor do they have any say on farther regulating the banks when that is on the preview of the federal government with their corrupt ties to the federal reserve. All of these policies that have been increasing insurance premiums both medical, and property IS because of these mandates, forcing us to pay whatever price the insurance company's name. Farther, More and more insurance companies are leaving Florida because they can't meet the requirements that the bankers require.
Again, due to the federal government over spending, and creating short term loans to pay for long term loans, so that they can boost the liquidity in the market, farther accelerates the inflation, which directly impacts what it costs for a total replacement of the home, if it were to be lost due to a disaster. Combined with cheap low interest home loans, (interest rate is still far too low) and the banking industry and the powers that congress has exclusively allowed for one bank to capitalize on. We have had the cheapest money for over a decade. Covid lockdowns had put 60% more money into the M1 money supply.
The only thing DeSantis did was make living in Florida over other areas of the country very attractive. Thus, the demand to live in Florida has greatly increased, and because of banks power enabled by the federal government, the new homeowners are forced to ensure for a total loss of the structure. As more and more people buy property since 2020, the only thing that had happened was the increase of these mega expensive homes. and people accepting whatever price for insurance because without it, the federal government allows the banks to shop for insurance for you and make you pay the premium.
A metric ton of wall street people moved down here, as well as major companies from across the country has moved to the free state of Florida. Miami has become known as the WallStreet of crypto. People with money are buying the new very expensive homes 350k+ and they have to pay for the possibility of a total loss unless it's completely paid off. But because of how money works, maintaining low interest loans, is vastly more productive, especially with our inflation rate, than to pay the home off entirely. You actually lose a lot of opportunity cost by putting your whole egg in real estate for a primary or commercial residence.
MAYBE but these REPUBLICANS ARE EVIL
Republicans: I dont believe in climate change! Also Republicans: Its the liberal's fault! I want my house back! *gone in hurricane.
ie global warming? It occurs naturally. Look at historic data
Typical tactic of the reds. Has been for decades, particularly from Reagan to the present.
Look up project cirrus 70 year anniversary. Not sure which side of the aisle is encouraging that stuff.
Sometimes I feel like Florida is just a giant catfishing scam.
Good Grief!
Miami was built on anti-communism and cocaine
YES, run and ruined by republicans for the last several years....
They were selling FL swamp land to people back before the 1920s.
"fools paradise" was what Miami was considered decades ago.
What will these companies do when nobody can afford to pay?
Insurance is a scam
Amen!
I've worked in the insurance industry for 10+ years. It's clear you have no clue wtf you're talking about. Although if you have some actual thoughtful facts or data points, I'd be all ears. Just a blanket statement like "entire XYZ industry is a scam" demonstrates a horrendous poverty of nuance, and lack of critical thinking.
Insurance is much like a casino in that they do enough research and leverage their bets to make a profit. That makes it almost seem like a scam, but it is in fact not. They do pay out, they’re just good at math and paperwork. They wouldn’t be in business if they didn’t win more often than not.