These barrier islands whether they are called a "Keys" or "Outerbanks" or "Fire Island in NY, are there for a purpose: they are sand dunes that nature is allowed to shift back and forth with incoming and outgoing storms. There shouldn't be any permanent development beyond what day visitors require: bathrooms, parking lots, food trucks, etc. Maybe a campground here and there but that's it: nothing that "we" can't afford to lose. This is local governments fault - the government should never have allowed the acquisition nor upzoning to allow development of these critical ocean features. Maybe this time with the canceling of insurance, there won't be any rebuilding. Let's hope.
What about people who can afford to build an oceanfront cottage for cash and afford to lose it in a storm and not even bother to carry any insurance? Okay, I carry a liability policy for accidents and injuries and such, but if a person can afford it, why not let them have their fun? Why should it be prohibited?
I will take it one step further. EVERY property gets 1 (ONE) chance at reconstruction after a hurricane. The 2nd time there is damage over 50% of the value it should be a mandatory teardown and nothing should ever be able to be built on the property ever again. If 50% of the homes in the area have 50% value damage then the ENTIRE area should be rezoned to wetland.
Lifelong resident of Florida and my home was built in 1950 and never had any substantial flooding till idalia put 2 feet in a foyer and bedroom. I spent two months fixing everything myself and then Helene trashed the home with 4 to 5 feet of water throughout the home. I am paying 8300 for wind from citizen and 3300 for flood. Flood is 250k with a 5k deductable and citizen covers 375k with i think a 10k deductible. Im not fixing the home this time as 5 hurricanes in 2 years is a game changer. The property needs a fortress home 12 feet in the air because i fear this is the new normal. All this happened while the hurricanes were 120 miles offshore!
I am sorry if this is your primary residence. We left Fl in 2011. We lived on the water in Broward. We self insured except for flood which at the time was like $365. Someone like Musk with the resources needs to come up with a solution. Maybe artificial reefs or something. Or maybe someone should design tethered sputnik like homes (which float).
Agreed, we’re going to demo and build up to code in 5 years. Not our primary residence, but our 2nd home. I think these floods will continue happening.
@ OMG Genius where have you been . Just think of all the homes and people and businesses that could have been saved if you had spoken out sooner. Dude amazing job!!!
The more I learn about insurance as I grow older the more I think insurance is a scam. Life, health, dental, car, homeowners etc. You pay faithfully monthly, make a claim …….get very little coverage if any. Increased Co-pays, deductibles, premiums, exclusions, denials….it goes on.
I've thought the same about insurance since reading a book called "Hit From Both Sides" back around 1970. That said, the Fl situation is a little different. Nothing seems more predictable but that every single beachfront home in FL will eventually suffer this destruction. Can hardly blame the insurance industry for calling a halt to the craziness. Fixed homes just do not belong on beaches scoured by hurricanes.
Obviously as you got older you got stupid....The wealthy always buy Insurance ....but you Poor Conservative Republicans can't understand that Insurance is a business and not a charity or socialism....The policy owners must pay for all of the losses and a profit for the company... But I am curious....How would YOU run an Insurance Company?
My running group has run this route, the south end of Manasota Key, for over 10 years. It was a cute, picturesque little neighborhood with colorful bungalows from the 1950s, 60s and 70s. It never flooded like this before. It was exactly the type of place you would love to retire to, with adorable little rentals and fewer mansion type homes. The smell of dead fish this Thursday was horrible. It is truly a disaster zone. Houses that were more like works of art with tikis and fun, beachy signs are gone. Nothing left. It’s so sad.
As a "Snowbird" for last 18 yrs, I think coastal FL is no longer affordable for most of us. We were fortunate to sell our home and leave SWFL before all this devastation ..... resettled to higher ground and now just visit the coastal south in our RV.
If people buy a house someplace like this …. Essentially a strip of sand in the hurricane-prone Gulf of Mexico, then this is the risk they take. Why should taxpayers in the whole state of Florida subsidize this via Citizens insurance?? They shouldn’t be doing heavy development in places like this.
@ Agreed…. The people building or buying a home in a high risk area (due to hurricanes, floods, earthquakes, wildfires, etc…) should pay the price, no one else.
This isn’t new. This is happening for decades in the North Carolina Outer Banks. Some houses there were rebuilt several times with US taxpayers’ money 😮
New sub here, I'm a catastrophe insurance adjuster and was deployed to FL for Milton. I got there and the firm I was working for only got 1/10 of the claims they were expecting, after 2 weeks of no claims I had to return to my home state of AZ to get back to work. Shelled out a bunch of money to get there and then leave empty handed, ufta.... But I am humbled by the damage I saw in Siesta Key, my thoughts and prayers go out to those affected. What I understand is that the carriers were denying 75% of the claims on the initial phone call because of flood damage. Homeowners needed a letter of denial from carriers to apply for FEMA assistance. Very informative video thank you for sharing!! Good luck to you all in the recovery process!!
The sand is exactly where it’s supposed to be. It’s the houses that need to move. People have turned all of Florida into a theme park where reality is supplanted by a fantasy life that is fading quickly. I lived in Florida from 1972 to 2019 and it’s unrecognizable to me now. It’s gotten so hot all year round. We used to have temperatures in the 20’s sometimes during the winter. I grew up without air conditioning until I was 15. Wake up and get out while people are still buying because it’s not going to last that much longer.
Exactly! Had human beings had any brains at all, they’d have built their cities inland and kept all the barrier islands as state parks for all to enjoy. It’s a shame how few mangroves are left in the state. Mother Nature will take her land back regardless. Rebuilding only creates more of a mess to clean up.
What a horrible scene for all those homeowners, but it’s easy to see why so many insurance companies pulled out of Florida. The Uber wealthy will own all the coastal regions, I’m good with driving 20 minutes to see the Gulf and living in zone x at 61 ft above sea level. May God bless all the families struggling through this.
I think that your idea will make the situation worse . We need to self insurer and it doesn't effect anything. Prices could come down because you will have to pay cash . Insurance companies and banks always make things bad.
@@theone4929 Do you really think that we Americans are getting shafted by this event? Try EVERYTHING else regarding inflation and you'll see that this is all by design. We are ALL suffering. At least allow some sympathy to those who have had their SHTF.
That was very informative. It is just not a matter of high premiums, but also high deductibles. The truth is these insurance premiums are not covering the losses.
Figured it out that it was $5-8,000 per year. My total replacement/cover everything was increased to about $89 per month but I live in a small-semi farming community in California. / Home value around $450,000.Guess I shouldn’t complain about a $10 monthly increase. A +$500 a month insurance payment would freak me out..
You should see the 8 feet or more of sand we got in Naples. Ian was water but Milton was less surge but tons of sand which destroyed all of the vegetation and pools on our gulf front property. Insurance doesn't pay anyway, don't know anyone who hasn't had to pay for most of their repairs.
No one foresaw that they would turn around and try to remove everyone from the books? Yes we did! That’s why we’re back in PA and not “living the dream in paradise” anymore. We grieved Florida in 2022 and left for good last year.
We left for good in 2023. The 2nd happiest day of my life was closing day!! I wouldn't step foot in the state for ***ANY*** reason ever. My wife comments daily on how much happier she is here in the frozen north. As we were driving across the border I extended my arm as far as it could go then extended the finger to the entire state. I really meant it too. Edit: We now live in a wonderful community. I know just about everyone who lives here. There are actual people here!!! We never lock our doors. I leave keys in my vehicles. I live on a piece of property that would be ~30 million dollars in FlorDUH and here its nothing special.
well I would say it's more about zoning laws. however climate change have been marching on rapidly the last decade and will continue to get way worse the coming one. basically no area anywhere in florida can be considered safe from flooding anymore. the reason why many of these houses where built was because just until 20 years ago these areas wherent prone to flooding as they are now, and the risk is just increasing yearly now. climate change doesn't care whether you believe it or not. it happens anyway. not talking about or not changing zoning for it etc won't change that.
@johndoe1909 I'm from a beach town up north and before I was born floods of 3-6ft were common. In my life 2ft was the worst I've seen in 45 years. The beaches have also gotten bigger and farther out. In Florida forts Jefferson and Marion both show sea rise is 0.25" per century and slowing.
Florida was on my list of possible states to retire too. Sadly its now off my list. I just couldn't imagine going through that Nightmare time and time again. The sunshine is just not worth it. And the cost to live there is not competitive anymore.
South Florida has no future or the coasts. The water table has risen under homes and water can't drain out after storms anymore as a result unless pumps are used. That's not natural.
You might want to take up residence on the moon? Because it's not just Florida that deals with natural disasters every year like wildfire, earthquakes, landslides, flooding and storms. We've now had two wildfires in 14 years living here in northern Nevada, it's taken the neighbors homes on both sides of us and many more! It's part of life.
@@redrider7730you are absolutely correct. But there are a lot of places that are far less expensive than most of Florida. Maybe not the paradise people want but much more affordable. You should live where you can reasonably afford to.
I’m in NE FL on a barrier island (1 mile from ocean smack in the middle of the island in the only B zone) and just got my renewal and increasing another almost $1400. I have the 2% deductible too - used to have 3% but the deductible $ was getting uncomfortably high. May have to weigh the 3% again. Luckily still hanging on to my USAA. Pretty obvious from that walk that everything needs to be on stilts.
@@ltcmoose2001 Yes, if I bought my house today, they would not insure. They at least didn’t drop me like the other companies. They are still insuring some homes for non-active military, but selective.
Waverlys is one of our faves!! They were hit heavy with Ian n had to do a major remodel but good to see they haven’t sustained wind damage though flooding was more an issue with Helene n Milton!! Hope their street level area is ok!! Sad Tiki Sand Bar didn’t survive; we’ve partied there when the group 22N was performing!!
For decades, Florida’s economy has been based on a real estate bubble that had as much basis in reality as the tulip craze of the 16th century. The recent disasters are a harsh reality check which will go far beyond jacking insurance premiums. The market value of Florida real estate is now in free fall. Great numbers of mortgage holders will find themselves underwater financially even if they weren’t physically underwater. What will this mean for the financial stability of the institutions that lent the money? Going forward, who’s gonna lend money for future projects?
Ponzi-Pyramid schemes require new/underneath money coming in for sustenance or growth. The flow of that money has stopped (or at a minimum, is greatly reduced). Without it, natural price discovery will dictate prices/values from here. Appraisals using past comparable sales will be rendered meaningless. The air has left the bubble and how far it falls is anybody's guess. Just imagine if we fall into recession or if asset markets deflate and people can no longer sell one overpriced asset and replace it with another one. If that were to happen, it will be a nightmare for sellers. Depending on how many homes are financed, it could be big trouble for banks. People with high LTV loans could become walkaways. What is more important, hundreds of thousands in money, or a couple of hundred point decreases in your FICO score?
The last time the Florida real estate bubble popped it was in 1926 when first, a ship carrying lumber tipped over and sank right at the docks in Miami and then a month later a Category 4 hurricane made landfall at Miami Beach and headed west out Flagler Street. Aid came but local politicians and community boosters said that everything was fine when the people were struggling, homeless and starving. Aid dried up because of these irresponsible individuals and people left and the state fell into The Depression early. As far as I can remember or guess, there was no development in Miami until the mid to late 1930s when Jewish people started building art deco and depression moderne hotels and apartments in Miami Beach.
My folks briefly rented a house on one of the Pinellas barrier islands when I was a kid: can never understand why folks want to do this after having actually lived on one for a year. In addition to the (rather obvious) fact that your house could get blown away, there are many other issues. The traffic to and from the mainland is a nightmare, due to tourists. The actual people on the beach (both locals and tourists) are drunk, obnoxious, etc. Throw trash on the ground, walk around like they own the place. This is also the prime spot where homeless like to camp out for the night. So you will be walking past that all day. The entire 12 months was just a nightmare, in my eyes. Move inland, where you don't have to deal with any of this! Pure ego, really. Wanting to have that "beach house".
I used to live in Dunedin. I read all the time from people who still live there saying what a paradise it is. I'm like what? It is so jam packed it gets frustrating. Heavy traffic all the time. Forget going to the beach on the weekends. During the week it's extremely overcrowded too. Years ago it was paradise. Not anymore. It actually is very sad.
Why in the world would people build on a barrier island? The developers have been running the state for far too long, and this is the result. It is very sad for the folks who lost their houses, but they had to know it was only a matter of time. Barrier islands are meant to be just that. So houses were the barrier. No amount of money should be spent to rebuild in these areas. If you want to live in these areas, you are on your own. Otherwise, take the money and move on.
I live here in Lakewood FL and only pay $2000. For the year for home owners insurance and around $800.00 for flood but not on the water or in a flood zone. Been here 23 years and fortunate with never being hit. So shocked for Englewood Beach, just devastating and I used to live there many years ago and remember how beautiful it was. My prayers for all here and down south and in the mountains that have been devastated! ❤
Why would you pay 800for flood and not in a flood area? That makes no sense to me. I live in inland fl and dont pay flood and when I was told my house doesn't meet new code by State Farm they actually told me they could write me a policy with Citizens. No joke, I shit you not. This was in Aug 2024. And when it got canceled with no claims in central Florida, lowest wind zone, no flood zone, and family lived here for 75 years so I know about the area, I walked and told them to have a nice day. I have no insurance and don't care. I self insure now. Btw I've had enough of Florida. I'm plotting my next move.
This video shows you exactly why people should evacuate. Yes your property might survive but look at the infrastructure. You would be completely on your own if you didn't evacuate.
We're being depopulated from Citizens. We were given two company options with shoddy coverage. We do have other options, but we have to replace our hot water heater before we can access them. We're in North Central Florida.
Ditto. I'm being de-populated from Citizens as well. Spent $28K on a new roof in June and am being forced back to Florida Peninsular, which dropped me 6 years ago for no reason. Had Nationwide for years and they were a good company but got a non-renewal as they were reducing the number of policies to lower their risk. I'm not near the ocean or in a floor plain and have never filled a claim.
Floridians love the out of state tourists. They rob the goobers with what they charge for just about everything. Golf green fees are a perfect example. $30 or $40 during spring,summer and fall. $150 and up in winter when the goobers show up.
They aren’t cutting policies, Ben they are transferring them to private markets. As an insurance broker, I hear this all the time from our clients. They ask why they are being canceled by CITIZENS and I let them know they are not and they are at least as well off being with a private market. CITIZENS cannot handle, the inflow of claims that they have after every storm. They claim service is notoriously the worst and their coverages are limited. This is a great option, It is the best one available right now.
Own my home. I contacted my insurance agent after we were switched to SLIDE because our original company went out. 1st Slide bill was $5,500. I sent requests for 2 estimates -- 1 if I raised the Hurricane deductible or 2 If I cancelled the Hurricane all together. She contacted me back saying I had to switch to CITIZENS, have all new inspections redone, probably a new roof and eventually flood insurance (I'm no where near a flood zone) Since WHEN do you have to have hurricane coverage to get any coverage at all?
Now is not the time to lament and feel sorry for the destruction. It is the time to work in cleaning and rebuilding the infraestructure that is damage. Inspecting and deciding what to do with the houses and buildings that are damaged. Doing and inventory of the houses with no damage and the ones that suffer flooding and damage. If people wants to sell their houses they will have to discount their prices accordingly to the new situation not only in their houses but the areas. There will probably not be easy to get insurance and at 7% mortgage interest will be challenging. There will always be cash buyers but not to many investors. I will like to hear your opinion as an expert realtor in SW Florida. Thanks
You have no technical information shown. The local flood ordinance needs to be shown. The firm panel could be stated. What is the CRS rating? Do you understand minimum NFIP basics? The structures shown are non-compliant pre-firm structures. Nothing new! Go to Mexico beach. Go to Fort Myers beach.
Please remember, most developments/houses have been on the coast for many years, some for almost 100 years. Tampa and Sarasota and nearby areas haven’t seen anything like this since 1921.
How many years has all this development been here? These are nice homes, not small beach shacks that could be rebuilt quickly. Isn’t t that part of the problem.
@@irwinsaltzman979The White Elephant was built in the 1930s. Many of the homes he was walking by on the south end of Manasota Key are from the 1950s, 60s and 70s. They’ve never seen anything like this. Houses are completely gone, with just a slab of concrete where 70 year old houses stood before the storm.
Great reporting, thank you. Ben. All the costs…to the governments cleaning up, utilities, insurers, repairs and building…all up through the roof (pardon the pun), while revenues from tourists and related businesses collapse. An on-going catastrophe with virtually no way out.
When you build your house on the beach, you should be well prepared to face a total loss at least several times during your lifetime. Only build there if you can afford a total loss. Don’t expect help from those who cannot afford to take that kind of risk I.e. taxpayers.
Maybe it shouldn’t “get fixed and come back”. Theres just going to be another storm next year and the one after that…. In my state, Louisiana, the area below New Orleans, below Belle Chase, leading down to the mouth of the river were once filled with little towns. After Katrina it’s just a few fishing camps because you can’t get insurance at all.
My parents aged mid-70s sold their Clearwater FL. condo in 2020 & moved BACK to Ohio. . . . Happiest & SMARTEST people I know 😊 . ? . Imagine ? . . If they still had the condo NOW 😢
How horrible. I mean some of the comments. Some of the homes here have withstood many storms over the years. I’ve been going to this beach since the 80’s. So sad to see what has happened.
I'm watching a video by some demolition guy somewhere in SW Fla. I didn't catch exactly where he is - "mid-island, publix is right over there, there is the bay, the beaches are a 100 yards that way...". I myself would live in the waterfront house he is going to demo. My question - the water in the canal is brown. Is that normal in that area or is that remnants of the storms ?
I’m not on the beach or even within several miles of the beach and yet Citizens sent me a depopulation letter stating my new "private insurer" is going to cost me over $8k a year. Flood insurance is another almost $9k a year. This is on a $625k 4/4 2800sq ft home. It’s definitely not a mansion . More and more homes in Florida are skyrocketing in price.
Just checked on Eagle point parks website eight more homes just went up for sale in this past week now 16 homes for sale at Eagle point on Burnt store road looks like the retirees have had enough and are leaving Florida it started with Charlie in 04 .
When I look at the internet - I still don't see any real price reduction within those coastal areas. At best prices feel like they are going back a year or so, and then by pennies.
The coastline homes will always sell at crazy prices no matter how many times it gets destroyed. There are so many goobers in this country to buy them and hope it doesn't happen to them.
Looks like snow piles up north but they eventually melt away!! The sand just stays til it’s moved somewhere else, in this case back to the beaches!! I’ve been hearing about sand being sifted to remove any dangerous debris but not sure it’s being done everywhere?!?!
Hello Ben. Thanks for your important content. This information is valuable to huge numbers of people. I hope you have fared reasonably well personally and wherever your home is. If you wouldn't mind, perhaps you can let us know without delving into personal/private information.
These barrier islands whether they are called a "Keys" or "Outerbanks" or "Fire Island in NY, are there for a purpose: they are sand dunes that nature is allowed to shift back and forth with incoming and outgoing storms. There shouldn't be any permanent development beyond what day visitors require: bathrooms, parking lots, food trucks, etc. Maybe a campground here and there but that's it: nothing that "we" can't afford to lose. This is local governments fault - the government should never have allowed the acquisition nor upzoning to allow development of these critical ocean features. Maybe this time with the canceling of insurance, there won't be any rebuilding. Let's hope.
What about people who can afford to build an oceanfront cottage for cash and afford to lose it in a storm and not even bother to carry any insurance?
Okay, I carry a liability policy for accidents and injuries and such, but if a person can afford it, why not let them have their fun? Why should it be prohibited?
@@Singlesix6 It's up to local governments to perhaps proclaim a building moratorium on oceanfront building
I will take it one step further. EVERY property gets 1 (ONE) chance at reconstruction after a hurricane. The 2nd time there is damage over 50% of the value it should be a mandatory teardown and nothing should ever be able to be built on the property ever again.
If 50% of the homes in the area have 50% value damage then the ENTIRE area should be rezoned to wetland.
I go into a fair amount of homes every one that ive been in that is elevated the homeowner finish and furnish the buffer level like its living space.
I forgot to add that its common that cottages and reasonably sized homes are getting bigfooted
That’s not sand, that’s the new beach. Stop building on it.
Good answer
The beaches are for all of us not the rich alone to enjoy 👍
Agreed. The government should buy the land these wrecked homes sits on and turn it into a public beach
eserve.
These barrier islands and keys need to be state beaches or protected natural reservations... and should have been since Florida became a state.
Build back bigger and better ... this will NEVER happen again ... Life on a giant sandbar is soooooooo exciting ... !
If you build on barrier islands or near the cost you either self insure or no insurance. Why should everyone in Florida pay for your risk?
Mother Nature wants Florida back.
Controlled more like it
Only people that can pay cash and self-insure should live there and there should be an HOA so the homeowners pay for the cleanup and not all taxpayers
But it brings in tourist dollars,
@@charlies3502 dollars for the rich who do not pay taxes
In other words, only wealthy people will be able to live there.
Lifelong resident of Florida and my home was built in 1950 and never had any substantial flooding till idalia put 2 feet in a foyer and bedroom. I spent two months fixing everything myself and then Helene trashed the home with 4 to 5 feet of water throughout the home. I am paying 8300 for wind from citizen and 3300 for flood. Flood is 250k with a 5k deductable and citizen covers 375k with i think a 10k deductible. Im not fixing the home this time as 5 hurricanes in 2 years is a game changer. The property needs a fortress home 12 feet in the air because i fear this is the new normal. All this happened while the hurricanes were 120 miles offshore!
I am sorry if this is your primary residence. We left Fl in 2011. We lived on the water in Broward. We self insured except for flood which at the time was like $365. Someone like Musk with the resources needs to come up with a solution. Maybe artificial reefs or something. Or maybe someone should design tethered sputnik like homes (which float).
@@charlies3502omg Musk lmao like he is going to insure people who live in Florida sign me up haha.
Agreed, we’re going to demo and build up to code in 5 years. Not our primary residence, but our 2nd home. I think these floods will continue happening.
Building on barrier islands is dumb, as is building on the beach, should not be allowed.😮
@ OMG Genius where have you been . Just think of all the homes and people and businesses that could have been saved if you had spoken out sooner. Dude amazing job!!!
The more I learn about insurance as I grow older the more I think insurance is a scam. Life, health, dental, car, homeowners etc. You pay faithfully monthly, make a claim …….get very little coverage if any. Increased Co-pays, deductibles, premiums, exclusions, denials….it goes on.
It is a Ponzi scheme.
💯
I've thought the same about insurance since reading a book called "Hit From Both Sides" back around 1970. That said, the Fl situation is a little different. Nothing seems more predictable but that every single beachfront home in FL will eventually suffer this destruction. Can hardly blame the insurance industry for calling a halt to the craziness. Fixed homes just do not belong on beaches scoured by hurricanes.
Obviously as you got older you got stupid....The wealthy always buy Insurance ....but you Poor Conservative Republicans can't understand that Insurance is a business and not a charity or socialism....The policy owners must pay for all of the losses and a profit for the company...
But I am curious....How would YOU run an Insurance Company?
Insurance is a business. When your customers pay $5000/year but file $100k+ claims every four or five years, the math doesn’t add up.
My running group has run this route, the south end of Manasota Key, for over 10 years. It was a cute, picturesque little neighborhood with colorful bungalows from the 1950s, 60s and 70s. It never flooded like this before. It was exactly the type of place you would love to retire to, with adorable little rentals and fewer mansion type homes. The smell of dead fish this Thursday was horrible. It is truly a disaster zone. Houses that were more like works of art with tikis and fun, beachy signs are gone. Nothing left. It’s so sad.
Only going to get worse and happen again and again. Time to rethink living 5 inches from the ocean.
Build back bigger and better ... this will NEVER happen again ... Life on a giant sandbar is soooooooo exciting ... !
When you are that close to the water it is not question of 'if' but only 'when'.
These beautiful areas should become state parks. The people should be given help to move to safer areas. No rebuilding on sand bars.
Congrats, someone that actually knows what the barrier islands are. Just sandbars from the earlier years when much of florida was underwater.
Left Florida in 2010 after my insurance company wanted 2k a month to insure my home. I saw this coming a long time ago.
Im sure you are breathing a sigh of relief.
$24k a year? How much was the house worth? A giant mansion?
I had a 3500 sq. home in 2010 in sw Florida built to code and our insurance was $4,500 per annum. Not in zone A or B flood.
As a "Snowbird" for last 18 yrs, I think coastal FL is no longer affordable for most of us. We were fortunate to sell our home and leave SWFL before all this devastation ..... resettled to higher ground and now just visit the coastal south in our RV.
Smart!
Where did you relocate?
If people buy a house someplace like this …. Essentially a strip of sand in the hurricane-prone Gulf of Mexico, then this is the risk they take. Why should taxpayers in the whole state of Florida subsidize this via Citizens insurance?? They shouldn’t be doing heavy development in places like this.
100 percent correct
And, why should the US taxpayers should bear the cost of someone’s choice to live in the swamp, because they want the Beach paradise?
Mind your own business idiot
@ Agreed…. The people building or buying a home in a high risk area (due to hurricanes, floods, earthquakes, wildfires, etc…) should pay the price, no one else.
This isn’t new. This is happening for decades in the North Carolina Outer Banks. Some houses there were rebuilt several times with US taxpayers’ money 😮
New sub here, I'm a catastrophe insurance adjuster and was deployed to FL for Milton. I got there and the firm I was working for only got 1/10 of the claims they were expecting, after 2 weeks of no claims I had to return to my home state of AZ to get back to work. Shelled out a bunch of money to get there and then leave empty handed, ufta.... But I am humbled by the damage I saw in Siesta Key, my thoughts and prayers go out to those affected. What I understand is that the carriers were denying 75% of the claims on the initial phone call because of flood damage. Homeowners needed a letter of denial from carriers to apply for FEMA assistance.
Very informative video thank you for sharing!! Good luck to you all in the recovery process!!
Thank you!
Keep building right up to the shore. You'll show those hurricanes!
The sand is exactly where it’s supposed to be. It’s the houses that need to move. People have turned all of Florida into a theme park where reality is supplanted by a fantasy life that is fading quickly. I lived in Florida from 1972 to 2019 and it’s unrecognizable to me now. It’s gotten so hot all year round. We used to have temperatures in the 20’s sometimes during the winter. I grew up without air conditioning until I was 15. Wake up and get out while people are still buying because it’s not going to last that much longer.
Exactly! Had human beings had any brains at all, they’d have built their cities inland and kept all the barrier islands as state parks for all to enjoy. It’s a shame how few mangroves are left in the state. Mother Nature will take her land back regardless. Rebuilding only creates more of a mess to clean up.
Good point
Spot on!
It got down to the 20s Fahrenheit the year before last in the Panhandle.
Did Californians and NYC lib nutjobs ruin Florida
Insurance used to be a minor detail in a home sale, now it's a deal breaker.
What a horrible scene for all those homeowners, but it’s easy to see why so many insurance companies pulled out of Florida. The Uber wealthy will own all the coastal regions, I’m good with driving 20 minutes to see the Gulf and living in zone x at 61 ft above sea level. May God bless all the families struggling through this.
It's a new version of what Paradise looks like
Should not be allowed to rebuild in these areas.
I think that your idea will make the situation worse . We need to self insurer and it doesn't effect anything. Prices could come down because you will have to pay cash . Insurance companies and banks always make things bad.
I feel so bad for all those affected. It breaks my heart.
It breaks my heart that all Americans have to foot the bill for this through taxes. It's so sad😢
@@theone4929 Do you really think that we Americans are getting shafted by this event? Try EVERYTHING else regarding inflation and you'll see that this is all by design. We are ALL suffering. At least allow some sympathy to those who have had their SHTF.
@@withSeraphim I clearly stated all Americans have been affected by this and deserve sympathy, not sure what your issue is
Im sad that my insurance is going up to fund the beach people's recovery.
@davemojarra4734 I hear your man, it affects everybody
That was very informative. It is just not a matter of high premiums, but also high deductibles. The truth is these insurance premiums are not covering the losses.
On this scale I agree.
Figured it out that it was $5-8,000 per year. My total replacement/cover everything was increased to about $89 per month but I live in a small-semi farming community in California.
/ Home value around $450,000.Guess I shouldn’t complain about a $10 monthly increase. A +$500 a month insurance payment would freak me out..
You should see the 8 feet or more of sand we got in Naples. Ian was water but Milton was less surge but tons of sand which destroyed all of the vegetation and pools on our gulf front property. Insurance doesn't pay anyway, don't know anyone who hasn't had to pay for most of their repairs.
Why do people continue to be surprised by what 150mph wind and surge can do?
It’s not just on the beach that homes got devastated!
Homes around Indian Mound of Dearborn st got hurt really bad! Also home on canals got flooded!
Thanks Ben for all you do! Stay safe out there!
Thanks, will do!
No one foresaw that they would turn around and try to remove everyone from the books? Yes we did! That’s why we’re back in PA and not “living the dream in paradise” anymore. We grieved Florida in 2022 and left for good last year.
But floriduh is safe from woke tho...
We left for good in 2023. The 2nd happiest day of my life was closing day!! I wouldn't step foot in the state for ***ANY*** reason ever. My wife comments daily on how much happier she is here in the frozen north. As we were driving across the border I extended my arm as far as it could go then extended the finger to the entire state. I really meant it too.
Edit: We now live in a wonderful community. I know just about everyone who lives here. There are actual people here!!! We never lock our doors. I leave keys in my vehicles. I live on a piece of property that would be ~30 million dollars in FlorDUH and here its nothing special.
@@dersteer I on my way "Back to Ohio" myself 😊. . . Moved to St . Pete Fl. in 1992 . . . Im OUTTA Here
Exactly.
@@dersteerI did too.
Insurance has become such a racket. The state(s) subsidizing the insurance industry is why we're in the crisis we're in.
well I would say it's more about zoning laws. however climate change have been marching on rapidly the last decade and will continue to get way worse the coming one. basically no area anywhere in florida can be considered safe from flooding anymore. the reason why many of these houses where built was because just until 20 years ago these areas wherent prone to flooding as they are now, and the risk is just increasing yearly now. climate change doesn't care whether you believe it or not. it happens anyway. not talking about or not changing zoning for it etc won't change that.
@@johndoe1909 Rick Scott and DeSantis won’t allow “climate change” to be uttered.
@elizabethlibero1878 well. that seems to workout nicely in florida...
It’s absurd but maybe republicans will finally get it’s real and costly to ignore
@johndoe1909 I'm from a beach town up north and before I was born floods of 3-6ft were common. In my life 2ft was the worst I've seen in 45 years. The beaches have also gotten bigger and farther out. In Florida forts Jefferson and Marion both show sea rise is 0.25" per century and slowing.
Hard to believe people on the beach didn't have flood insurance.
Some couldn't afford it. Tapped out. You would be shocked at how many people are up to their eyeballs in debt.
Florida was on my list of possible states to retire too.
Sadly its now off my list. I just couldn't imagine going through that Nightmare time and time again.
The sunshine is just not worth it. And the cost to live there is not competitive anymore.
South Florida has no future or the coasts. The water table has risen under homes and water can't drain out after storms anymore as a result unless pumps are used. That's not natural.
You might want to take up residence on the moon? Because it's not just Florida that deals with natural disasters every year like wildfire, earthquakes, landslides, flooding and storms. We've now had two wildfires in 14 years living here in northern Nevada, it's taken the neighbors homes on both sides of us and many more! It's part of life.
@@redrider7730you are absolutely correct. But there are a lot of places that are far less expensive than most of Florida. Maybe not the paradise people want but much more affordable. You should live where you can reasonably afford to.
I’m in NE FL on a barrier island (1 mile from ocean smack in the middle of the island in the only B zone) and just got my renewal and increasing another almost $1400. I have the 2% deductible too - used to have 3% but the deductible $ was getting uncomfortably high. May have to weigh the 3% again. Luckily still hanging on to my USAA. Pretty obvious from that walk that everything needs to be on stilts.
Time to sell out and get outm
I have been with USAA for over 40 years up north. They will not write a policy for me in Florida with a repaired sink hole house.
@@ltcmoose2001 Yes, if I bought my house today, they would not insure. They at least didn’t drop me like the other companies. They are still insuring some homes for non-active military, but selective.
Sand looks like snow. Good seeing you and reporting. What a shame that this happens. Some of these are so beautiful.
Great video Ben.
Thank you!
Waverlys is one of our faves!! They were hit heavy with Ian n had to do a major remodel but good to see they haven’t sustained wind damage though flooding was more an issue with Helene n Milton!! Hope their street level area is ok!! Sad Tiki Sand Bar didn’t survive; we’ve partied there when the group 22N was performing!!
When folks build on sandy soil and that close to the water........ What do you think is going to happen ? It's a choice and sometimes we lose !!!
For decades, Florida’s economy has been based on a real estate bubble that had as much basis in reality as the tulip craze of the 16th century. The recent disasters are a harsh reality check which will go far beyond jacking insurance premiums. The market value of Florida real estate is now in free fall. Great numbers of mortgage holders will find themselves underwater financially even if they weren’t physically underwater. What will this mean for the financial stability of the institutions that lent the money? Going forward, who’s gonna lend money for future projects?
Ponzi-Pyramid schemes require new/underneath money coming in for sustenance or growth. The flow of that money has stopped (or at a minimum, is greatly reduced). Without it, natural price discovery will dictate prices/values from here. Appraisals using past comparable sales will be rendered meaningless. The air has left the bubble and how far it falls is anybody's guess. Just imagine if we fall into recession or if asset markets deflate and people can no longer sell one overpriced asset and replace it with another one. If that were to happen, it will be a nightmare for sellers. Depending on how many homes are financed, it could be big trouble for banks. People with high LTV loans could become walkaways. What is more important, hundreds of thousands in money, or a couple of hundred point decreases in your FICO score?
The last time the Florida real estate bubble popped it was in 1926 when first, a ship carrying lumber tipped over and sank right at the docks in Miami and then a month later a Category 4 hurricane made landfall at Miami Beach and headed west out Flagler Street. Aid came but local politicians and community boosters said that everything was fine when the people were struggling, homeless and starving. Aid dried up because of these irresponsible individuals and people left and the state fell into The Depression early. As far as I can remember or guess, there was no development in Miami until the mid to late 1930s when Jewish people started building art deco and depression moderne hotels and apartments in Miami Beach.
We were on the dirty side of Cat3 Milton, so now imagine FMB suffering the dirty side of Cat5 Ian. 😮
It's so sad. I can't believe it either. I love Englewood.
We live in Punta Gorda and Manasota is our “local beach”
Without the beaches what’s the point of living in Florida!?
The water here in Englewood is contaminated!😢
My folks briefly rented a house on one of the Pinellas barrier islands when I was a kid: can never understand why folks want to do this after having actually lived on one for a year. In addition to the (rather obvious) fact that your house could get blown away, there are many other issues. The traffic to and from the mainland is a nightmare, due to tourists. The actual people on the beach (both locals and tourists) are drunk, obnoxious, etc. Throw trash on the ground, walk around like they own the place. This is also the prime spot where homeless like to camp out for the night. So you will be walking past that all day. The entire 12 months was just a nightmare, in my eyes. Move inland, where you don't have to deal with any of this! Pure ego, really. Wanting to have that "beach house".
I live on Treasure Island, above comment is 100% accurate.
I live 5 miles from Fort Myers Beach, and I stay the hell away from there
Having the homeless camping out all over is quite a tourist attraction.
I used to live in Dunedin. I read all the time from people who still live there saying what a paradise it is. I'm like what? It is so jam packed it gets frustrating. Heavy traffic all the time. Forget going to the beach on the weekends. During the week it's extremely overcrowded too. Years ago it was paradise. Not anymore. It actually is very sad.
This info is fascinating.
Good reminder that the storms are not over for a lot of people. The devastation is unreal.
I'm originally from Cleveland. Winter snow is as much as that sand and it gets moved and removed routinely long before the melting occurs.
Why in the world would people build on a barrier island? The developers have been running the state for far too long, and this is the result.
It is very sad for the folks who lost their houses, but they had to know it was only a matter of time. Barrier islands are meant to be just that. So houses were the barrier.
No amount of money should be spent to rebuild in these areas. If you want to live in these areas, you are on your own. Otherwise, take the money and move on.
Build back bigger and better ... this will NEVER happen again ... Life on a giant sandbar is soooooooo exciting ... !
Helen made $200 Billion , Milton adds 100 more. That's half of military budget - for instance.
Nice to see all of the raised houses, but house is unlivable for months since area around is blasted.
Thank you for your updates
You bet!
I live here in Lakewood FL and only pay $2000. For the year for home owners insurance and around $800.00 for flood but not on the water or in a flood zone. Been here 23 years and fortunate with never being hit. So shocked for Englewood Beach, just devastating and I used to live there many years ago and remember how beautiful it was. My prayers for all here and down south and in the mountains that have been devastated! ❤
Why would you pay 800for flood and not in a flood area? That makes no sense to me. I live in inland fl and dont pay flood and when I was told my house doesn't meet new code by State Farm they actually told me they could write me a policy with Citizens. No joke, I shit you not. This was in Aug 2024. And when it got canceled with no claims in central Florida, lowest wind zone, no flood zone, and family lived here for 75 years so I know about the area, I walked and told them to have a nice day. I have no insurance and don't care. I self insure now. Btw I've had enough of Florida. I'm plotting my next move.
The sand looks like piles of snow after a big storm up here in the NE.
I noticed, I grew up and used to live in and around Boston, late 1960s, 1970s, 80s (except college), and 90s.
Manasota Key is such a beautiful and special area. Complete and utter devastation. Very sad.
This video shows you exactly why people should evacuate.
Yes your property might survive but look at the infrastructure. You would be completely on your own if you didn't evacuate.
The days of cheap paradise are long gone.
We're being depopulated from Citizens. We were given two company options with shoddy coverage. We do have other options, but we have to replace our hot water heater before we can access them. We're in North Central Florida.
Ditto. I'm being de-populated from Citizens as well. Spent $28K on a new roof in June and am being forced back to Florida Peninsular, which dropped me 6 years ago for no reason. Had Nationwide for years and they were a good company but got a non-renewal as they were reducing the number of policies to lower their risk. I'm not near the ocean or in a floor plain and have never filled a claim.
Thank you for sharing!
Wow, the piles of sand look very similar to when we here in the NE get large dumps of snow! God bless all affected.
At least snow mounds melt!
Wise man say don’t build house in the sand
Sales in Collier were down 24% in October.
I expect similar here. I lost a few transactions due to Helene alone.
I live in PG, tons of out of state license plates
Floridians love the out of state tourists. They rob the goobers with what they charge for just about everything. Golf green fees are a perfect example. $30 or $40 during spring,summer and fall. $150 and up in winter when the goobers show up.
They aren’t cutting policies, Ben they are transferring them to private markets. As an insurance broker, I hear this all the time from our clients. They ask why they are being canceled by CITIZENS and I let them know they are not and they are at least as well off being with a private market. CITIZENS cannot handle, the inflow of claims that they have after every storm. They claim service is notoriously the worst and their coverages are limited. This is a great option, It is the best one available right now.
The huge hills of sand will be cleaned of any debris and will be returned to beaches as dunes.
Own my home.
I contacted my insurance agent after we were switched to SLIDE because our original company went out. 1st Slide bill was $5,500. I sent requests for 2 estimates -- 1 if I raised the Hurricane deductible or 2 If I cancelled the Hurricane all together. She contacted me back saying I had to switch to CITIZENS, have all new inspections redone, probably a new roof and eventually flood insurance (I'm no where near a flood zone)
Since WHEN do you have to have hurricane coverage to get any coverage at all?
Good job as usual ben
Thanks again!
The newer elevated homes seem to have survived much better than other homes
Hey : Sure wish you would go to El Jobean in Port Charlotte. I use to live there on Hollis Street. Wonder how it came out. Thanks :)
Yep, citizens kicked me off. I'm in Bradenton FL
They wanted waterfront. They sure got it
Now is not the time to lament and feel sorry for the destruction. It is the time to work in cleaning and rebuilding the infraestructure that is damage. Inspecting and deciding what to do with the houses and buildings that are damaged. Doing and inventory of the houses with no damage and the ones that suffer flooding and damage. If people wants to sell their houses they will have to discount their prices accordingly to the new situation not only in their houses but the areas. There will probably not be easy to get insurance and at 7% mortgage interest will be challenging. There will always be cash buyers but not to many investors. I will like to hear your opinion as an expert realtor in SW Florida. Thanks
You have no technical information shown. The local flood ordinance needs to be shown. The firm panel could be stated. What is the CRS rating? Do you understand minimum NFIP basics? The structures shown are non-compliant pre-firm structures. Nothing new! Go to Mexico beach. Go to Fort Myers beach.
Please remember, most developments/houses have been on the coast for many years, some for almost 100 years. Tampa and Sarasota and nearby areas haven’t seen anything like this since 1921.
How many years has all this development been here? These are nice homes, not small beach shacks that could be rebuilt quickly. Isn’t t that part of the problem.
@@irwinsaltzman979The White Elephant was built in the 1930s. Many of the homes he was walking by on the south end of Manasota Key are from the 1950s, 60s and 70s. They’ve never seen anything like this. Houses are completely gone, with just a slab of concrete where 70 year old houses stood before the storm.
@@johnlibonati7807 thanks for update
No one learned from Hurricane Ian 2 years ago..
Thanks for sharing Englewood...
You bet
The weather will only get worse now, sad to say.
Why in hell anyone would insure ruins..? This makes no sense at all.
I love your honesty " horrible"😂😂
Great reporting, thank you. Ben. All the costs…to the governments cleaning up, utilities, insurers, repairs and building…all up through the roof (pardon the pun), while revenues from tourists and related businesses collapse. An on-going catastrophe with virtually no way out.
When you build your house on the beach, you should be well prepared to face a total loss at least several times during your lifetime. Only build there if you can afford a total loss. Don’t expect help from those who cannot afford to take that kind of risk I.e. taxpayers.
Quit building on the BEACH
Maybe it shouldn’t “get fixed and come back”. Theres just going to be another storm next year and the one after that….
In my state, Louisiana, the area below New Orleans, below Belle Chase, leading down to the mouth of the river were once filled with little towns. After Katrina it’s just a few fishing camps because you can’t get insurance at all.
That amount of sand is probably the highest point in florida.
No, that would be Mount Trashmore in Miami.
My parents aged mid-70s sold their Clearwater FL. condo in 2020 & moved BACK to Ohio. . . . Happiest & SMARTEST people I know 😊 . ? . Imagine ? . . If they still had the condo NOW 😢
Any properties that are rebuilt must be elevated on stilts 😮
Or not rebuilt at all. Us other homeowners who live in areas not prone to hurricanes shouldn't have to subsidize these people.
These houses should be uninsureable but let them be able anyway they want
My house is double plywood inside and outside uf wire and easy to fix
How horrible. I mean some of the comments. Some of the homes here have withstood many storms over the years. I’ve been going to this beach since the 80’s. So sad to see what has happened.
Looks like Gov Go-Go Boots was wrong about global warming 😂
Ty
I'm watching a video by some demolition guy somewhere in SW Fla. I didn't catch exactly where he is - "mid-island, publix is right over there, there is the bay, the beaches are a 100 yards that way...". I myself would live in the waterfront house he is going to demo. My question - the water in the canal is brown. Is that normal in that area or is that remnants of the storms ?
Only unusual thing is that yhere sre homes where the sand is supposed to be
This is nothing more then high tech gentrification against the last affordable shorefront properties in Florida !
If you live 3 feet from the ocean, AT sea level, with 12 foot storm surge, 5 DAYS warning, HURRICANE prone area... sorry... they knew the dangers
I’m not on the beach or even within several miles of the beach and yet Citizens sent me a depopulation letter stating my new "private insurer" is going to cost me over $8k a year. Flood insurance is another almost $9k a year. This is on a $625k 4/4 2800sq ft home. It’s definitely not a mansion . More and more homes in Florida are skyrocketing in price.
It should be illegal to build a new house there if it can't survive a hurricane with minimal damage.
Uaoo uaoo 😢 it's so sad, thanks a lot for this video you really show the real damage.
$5000 per month for insurance?!?! NO DEAL
@ ok got it but still no deal
5k is low
@ yeah probably low but still too high. Florida just isn’t that great. I know…I live near Sarasota
I am sure this is going to seem uncaring but I think citizens should only insure homes with a homestead exemption.
Just checked on Eagle point parks website eight more homes just went up for sale in this past week now 16 homes for sale at Eagle point on Burnt store road looks like the retirees have had enough and are leaving Florida it started with Charlie in 04 .
When I look at the internet - I still don't see any real price reduction within those coastal areas. At best prices feel like they are going back a year or so, and then by pennies.
The coastline homes will always sell at crazy prices no matter how many times it gets destroyed. There are so many goobers in this country to buy them and hope it doesn't happen to them.
It's maddening that people are this stupid. They have more money than common sense.
Looks like snow piles up north but they eventually melt away!! The sand just stays til it’s moved somewhere else, in this case back to the beaches!! I’ve been hearing about sand being sifted to remove any dangerous debris but not sure it’s being done everywhere?!?!
yes it is required before it is returned to the beach
thanks for sharing. Terrible to look.
Hi Gorgeous , i really enjoy your videos, keep up the great job
Hello Ben. Thanks for your important content. This information is valuable to huge numbers of people. I hope you have fared reasonably well personally and wherever your home is. If you wouldn't mind, perhaps you can let us know without delving into personal/private information.
Thank you! Yes I am personally ok. Just lost a few screens in the recent storms. Very fortunate. I appreciate you asking!
So sad and scary.