Remote Work Causes WORST Housing Market Ever!
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- เผยแพร่เมื่อ 2 ส.ค. 2024
- Many workers over the pandemic have enjoyed the freedom of remote works and have enjoyed extremely high salaries while living in low cost of living cities. Thats is all about to change as more companies like Apple, Google, Jp Morgan, Verizon, Ford, BoA just to name a few are all starting to require their employees to return to work in the office either full time or on a hybrid schedule. Here's how remote work caused the worst housing market ever!
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MORE Home Buyers SAYING NO! Housing Market RECESSION IS HERE th-cam.com/video/Bs-0GjS6PWQ/w-d-xo.html
ty mike i follow you for 1y now, all video very instructive for me. olivier from france
Nothing happened in Estonia. Fml._
In order to buy a modest home in South Florida needs to make a million bucks a year.
I can't get excited about a 10K or even a 50K price cut when houses went up by 200-300K in the last couple of years
You don't have to, but its important to recognize there are price cuts. Because thats how it goes, one reduction at a time...
@@MichaelBordenaro Very true 👍
I feel you, a 50% crash at the minimum before I will even consider buying.
Especially when so many reasonable priced homes need a $200k remodel.
@@robertmcgee7083 Yeah and ironically I don't even consider a 50% drop a "crash", more like a correction to where it should be but realistically it does still depend on inventory available. Every house that is for sale on zillow is about 50-100% higher than when it was bought 1-5 years ago and I sure as hell am not giving someone $700k for what is supposed to be a $450k house. There's some real delusional people trying to sell in FL right now.
Time to convert the empty office towers into affordable housing - not drag people back into a dead paradigm.
Makes to much sense
Agree
Or build affordable single family homes...tracts of them..acres
Love this idea. It would solve many societal problems. Could also offer a unit as housing as part of an employment package. One of the reasons I have worked overseas for the past 16 years is that they offer housing and transportation as part of my employment package.
Lolol.
You think the status quo that allows them to strong arm the public and then use any excuse to access that pool of money is going to end?
They'll never do that.. they'll create another issue to maintain that power.
No annoying brainwashing catchy phrases, no begging for likes or subscribers just a steady stream of information right out of the gate. I appreciate you and your Chanel. Thank you for sharing your knowledge with us.
Shoot it straight, thats what I do. Glad you appreciate my style Paul👌
Shots fired at economic ninja and IAlegebly
That’s why I’ve been a sub from the very early days.
I hate when a channels asks for a like and to subscribe even before you have had a change to decide if you like the channel or the video.
Your right. Just giving the real facts. Not all that data... data is not accurate all the time.
Unless America makes child care more affordable, I will continue to seek remote jobs. I'm able to work and watch my kids. It's a postive for sure.
I'm a Florida native , my family has been here since the 1870s . Long story short I left, not coming back. Too expensive, way overcrowded, tourist everywhere, no one is from here anymore. Found property for a new home build , my business ( owner & operator ) truck driver. Everything that Florida was now I find in South Carolina hopefully it stays this way . Enjoy your videos! 🙂
I'm your neighbor to the north, I like to fly down to Florida in the Winter for a couple months, and that's it I'm done with Florida!! until the next cold season comes, in North Carolina it is not that bad in the Winter, I just like to get a little bit of sun in January and February, Only conservatives are allowed to move to North Carolina lol
I wish I could up and move like that. Florida native myself for 50+ years my dad was born in Lakeland in 1940s. Kids and jobs are holding us back.
@@Kevinw4040 Some choices are hard, but I would move while the prices are high
@@erickemper7779 Tell that to your Governor and your school districts. At least Florida is conservative, even Miami-Dade has alot of conservatives.
It is truly sad how many times I have heard that story Michael. The state has gone through a tremendous transformation over the last decade. Thanks, glad you enjoy my vids!
You can only look at the ocean for so long and walk on the beach for so many times......after that, you will get bored....and the ocean and the beach will become so normal that you don't even notice they are there anymore........but you are still stuck with the high monthly mortgage payment..........
I see that happen to a lot of people that move here.
@@naturelover2292 I love living in New England after spending 15 years living in Florida. Your comment is spot on!! I don't miss living in Florida.
Qt
@@MichaelBordenaro I'm here in Santa Barbara, and I can see the beautiful Pacific Ocean from my condo every day and night. Sadly, I don't even notice that it's here anymore... It's the same ocean day after day, and night after night.... my condo is right above the tree line where I can see the ocean clearly.... I don't even bother to look at it anymore....there's nothing fascinating about it.... The cost of living here is so high that the residents are so busy working to pay their rent.....or mortgage that they hardly even have time to look at the ocean...... my Sicilian mother always said, " Bambino, looking at the ocean is like looking at the same woman everyday. You'll get tired of her soon. Find a woman full of life with a good heart. A pretty face will have wrinkles, and no make-ups from heaven can hide them. You're tired of the ocean eventually. Of course, if you want a condo right on the sand, that's up to you. That's your choice. Your dad and I will only pay for what it costs for a condo up mid hill.... you will need to get a job to make up for the deficit. Remember, any thing for pleasure or leisure, that's on you."
@@MichaelBordenaro I'm here in Santa Barbara, and I can see the beautiful Pacific Ocean from my condo every day and night. Sadly, I don't even notice that it's here anymore... It's the same ocean day after day, and night after night.... my condo is right above the tree line where I can see the ocean clearly.... I don't even bother to look at it anymore....there's nothing fascinating about it.... The cost of living here is so high that the residents are so busy working to pay their rent.....or mortgage that they hardly even have time to look at the ocean...... my Sicilian mother always said, " Bambino, looking at the ocean is like looking at the same woman everyday. You'll get tired of her soon. Find a woman full of life with a good heart. A pretty face will have wrinkles, and no make-ups from heaven can hide them. You're tired of the ocean eventually. Of course, if you want a condo right on the sand, that's up to you. That's your choice. Your dad and I will only pay for what it costs for a condo up mid hill.... you will need to get a job to make up for the deficit. Remember, any thing for pleasure or leisure, that's on you."
Yes. My brother was down in miami beach for the last year or so. Guess what? He is back in new york city. His job said everyone reports back to the office
I work remote and don't make some huge salary. And I want to keep working remote. Absolutely love it
I think these companies are going to be shocked that people won't go back into the office. It makes sense to work remotely for the folks that need too. Elderly parents, kids in school. Disabilities, etc. Every person that I know who works remotely says they'll find another job b4 going back in again.
Yes I am curious to see how exactly this will all play out.
@@njerseydavid agree
I can only speak for myself, but I've been working remote before it was "cool" (9+ years due to a disability). The need is there and companies realize it. There will continue to be instances where you don't have to be in an office to be effective. The pandemic was a good thing because it really showed workers and businesses alike that it can be done and done well.
I'd happily take your job while having to travel to work. 🤷🏿♂️
There's a quote for this exact thing but I can't think of it. So for now I'll say.
One man's trash is another man's treasure. A young person will swoop that job up. You will NOT be missed.
A remote worker who says they’ll quit before going back to the office may be on food stamps soon if that’s how they really feel. Most jobs will be back in the office within 2 years max.
I am in favor of remote work. I have been working remotely since 2017. I pay for my own internet service $75 a month and my own cell phone and electricity. My company does not pay those bills or buy me lunch or give me a gift card. I cannot afford gas. Why do we need to pollute the air or expressways? Taxes caused the problem . People are running away from high property taxes and they are moving away from crime .
Absolutely agree WFH and flexibility is the way forward 👍
I love that people are working remotely...less people driving on the roads, less gas used, and less damage to our roadways. I think it's great. I think people are happier working from home!
Less drivers on the road? Where cuz it sure as hell is not South Florida.
If that’s the case, then why are south Florida roads so jam packaged even almost 2 years ago now?
New Jersey is more crowded then ever…
No in my city. It’s just as many people, if not more, on the road now than there were then. The worst part is that the bad traffic is all day vs just during rush hour.
@@TriggaTreDay the remote workers are left to their own devices, work 1 or 2 hours then out causing more traffic!!!
I am a remote worker because my employer chose to close do to cutting operations cost. So now I am stuck with paying rising energy cost and internet cost. No money has been given to us to offset the cost, as this is a Billion dollar Corporation, and they are still getting the tax breaks. Little do they know, there time is up for creating a business that supports an imbalance of wealth.
I like this channel you don’t catastrophize like some of these other channels. Just give the facts in a friendly manner. The walks on the beach also bring back memories of when I lived in Miami over ten years ago!
Thank you Angie, so glad you enjoy the vids!
Being near the beach is nice, but it ain't worth 2-8 million premiums, Florida markets gonna have a bunch of price dropping condos for sale in the near future
Wow. Great update thanks!
I definitely agree if the building or home is older an inspection should be done to make sure the building or home is structurally sound and also there are a lot of places in FL that are prone to sink holes so, I think it's important before buying a home to get an extra inspection in addition to the inital home inspection to check out the structural integrity of the ground the home sits on or the land you want to build on to make sure that the ground is stable and that there is no danger of a sink hole forming as well or that a sink hole hasn't started to form because that's another big issue that Florida has as well and in some towns and cities more so than others so, I feel that it's a good idea to do a lot of research into that before buying or building a home in FL. Thanks again for all the great information!👍🙂
Continued prayers 🙏 to the families of this terrible tragedy. I can’t believe anyone would buy in that second tower.
I think your transparency is spot on. Thanks!
I’m seeing other local companies requiring their employees to return to the office as well. Some maybe permanent forever at home but remember, during a strong job market, employees call the shots. If we get a recession and the job market tanks, employers will call the shots and back to the office they will have to go.
I'm wondering if there's a similar TH-camr in China walking along streets and beaches giving regular updates on the Chinese real estate crisis.I'm thankful to live in the United States where Mr. Bordenaro can take us along during his walks around neighborhoods giving his thoughts on economics and real estate.
So glad you enjoy my content Douglas!!
Doubtful. The CCP doesn't allow free speech.
I don't think they can offload those mortgage backed security's. They may have to form a REIT that buy's them and then sells them to retirement funds, but when the market tanks, that REIT's are going to tank, causing a retirement catastrophe.
In all honesty, you can't blame remote work for causing the worst housing market ever, because the housing market was already terrible before the boom in remote work. The truth is that we love the free market up until the point when we get priced out. Technically, this is what free market financial competition really looks like and we're all experiencing the consequences.
As far as public/private partnerships, a lot of those properties are being bought by investment management/developer companies under convoluted financing schemes with the government. This doesn't stop the rent from going up at all. The units that they're purchasing are around $500k and up for a studio/one bedroom, so the rent is still going to be at least $2.5-5k. Developers just won't build affordable housing on their own.
I know this is a multifaceted issue of what has caused this market, just wanted to cover this aspect of it in this vid. The local govt needs to team up with builders to subsidize building affordable housing. There are a couple of projects like that happening in Miami right now, but on a small scale.
@@MichaelBordenaro Are they working with a local developer or is it a national management company? Either way, it looks like what's happening now is the biggest change in housing that we've experienced in decades. Have you seen the articles about WeWork's Adam Neumann buying up over 3,000 apartment units in Miami, Fort Lauderdale, Atlanta and Nashville?
Best comment. This is actually agenda 21 in action .
Would you? 90% of people want cheap everything but they know damn well that if they had an item, service, or whatever to sell, they would want the most that they could get out of it. You never see anyone ANYWHERE sell something for $100.00 or lowest offer. Quit being silly, folks! Teach your kids. Guide them in running a lemonade stand so that they can learn more about economics than a good chunk of the goofballs coming out of college in the last 30 years.
Thank you Michael! Speaking the truth is so refreshing! A much bigger truth is on it’s way! Wow! Hoping & praying that people can handle what’s to come. I wish you were here in California. We need you out here! Keep up the great work!
You're welcome! I am looking forward to coming out to California and doing these videos there as well. In the future I hope to spend a good chunk of my summers out there.
Thank you for sharing. Always beautiful scenery I ❤️ Florida. Here on the Jersey shore prices are starting to slowly reduce. Waiting to see how things unfold over the next 6-12 months.
Weird the thesis is "remote wokers from high cost cities are driving prices in low cost locations" . If that's true then why properties in high cost cities are not still affordable
High cost cities were already high before this, now its exorbitantly high
@@MichaelBordenaro Agreed
Thanks Michael! You're videos are always enjoyable and informative! I appreciate your efforts and the atmosphere on your walks!
Glad you like them!
The stimulus checks, remote workers, airbnb business, real estate investors, covid relief for businesses ( many used the funds to invest in real estate NOT), low mortgage interest rates.
I’m an IT worker. My last employer in The dfw metroplex made my team of 4 people go in with vp approval on a daily basis. I quit the place and started remote work a year ago. The genie is out of the bottle. My current employer has regional offices from Georgia to New Mexico. They embraced the remote work model since cv19. Being a consulting company, there is no need for us to come in. I work from my ABQ home for a company located in Kentucky. These big corporations can try to for people back in. Those jobs won’t fill. Why? Commuting sucks. Ill walk to a burger joint before I deal with that hell again.
Yes I think there are plenty of remote jobs that can easily be done remotely indefinitely but some of them require more face time and those are probably the ones getting called back full or hybrid. Will be interesting to see how it plays out
A lot of people moved to lower cost of living places as soon as Covid started. Many were also trying to keep the big city pay. Many of these companies just want them back in and some cant lol.
Burger joint job does not paycurrent rent costs!
@@madusonkeeper in my case, the mortgage is paid off and I am single with some very nice financial security as a single 50 year old. Wouldn’t work for everyone.
@@novadhd my current employer pays about 18 percent less than my last employer but I can work from home, anywhere in the US. Its still over six figures and is more than enough.
Enjoy watching your video. Thanks for the information!
I really appreciate that Nima, thanks for being here!
Working remotely was long overdue; of course there are pros and cons to everything but- for contract workers, the freedom to live where you really want along with the added flexibilty to your daily life offers benefits that outweigh any negative aspect. Also, large real estate companies and speculative investors who own rental units are a large part of the rental crisis and why rents are so high in many areas- it's more difficult now for young families to save for a downpayment when a large portion of their income (40% +) goes to paying rent.
I think hybrid is a good compromise.
All by plan to destroy lower and middle classes with big help from governments.
Yeah. I want to like in ky with a remote job in Cali.
How could remote workers not see that coming?
The main reason companies get tax breaks was because their workers buy lunch and spend money all around the offices
Crazy over $3million for 1200' Sq. 1-bdrm 1- bthrm
It’s not crazy if there is proper demand to pay that. Must be the case if there’s only one condo currently for sale there. It may be hard to stomach, but that’s the law of supply and demand. As long as there’s a willing buyer. . . .
Really enjoy this videos !!! Thanks for the insight. Rich dead radio show is so good I watched that episode as well. You’re killing it ! Have a great one!💪🏡
Thank you Ken! Rich Dad Radio is great, I listen to every episode for probably 5 years now!
@@MichaelBordenaro That’s awesome!!! I’ve discovered the rich dad poor dad book in 2018 when I was living in California. I moved to Tampa Florida 2021. Can’t wait to invest in the Tampa market after i graduate BMT ( Basic military training) for Florida Air National Guard. thanks for your knowledge I deeply appreciate it!
Very good video. Thanks for the clear truthful analysis.
PG&E BURNED 🔥 The town of paradise California, and the people still haven't received their money almost 4 years ago
Lots more pensions will be going bankrupt in the near future. Its a disaster.
@@MichaelBordenaro 😪
Your videos keep getting better Michael! Thanks for telling the truth about the Fed not selling off Mortgage Backed Securities like the promised. I was wondering why the housing market hadn’t crashed yet as they were raising interest rates! Now I know why!
Thank you Chandler! Yes I'm always looking to improve in any small way I can. Its important people know the truth about the MBS as its literally BS!
It's people buying second and thrid houses that are the issue. This whole 'remote working is the problem' is a red herring.
Really all of it adds to the housing issue. Remote has made traditionally affordable areas, unaffordable in many cases.
Another reason for back to work is that the cities where these big corporations are located have given significant tax breaks to those companies to come there. The argument those corps make for the tax breaks is that they will bring stimulus to the local ecomomy. Well since work remote has been implemented and people moved away many of these towns and their local economies/businesses have taken a big revenue hit which also affects the overall tax revenue. So now the local governments are telling the corporations if you want to continue getting these tax brakes you better call your employees back to the office.
Thats right, I covered a story of NJ doing this in a prior video.
Wow I didn’t know that!?
Perverse incentives are ruining our collective quality of life.
This is the first time I have ever heard of the government doing something that makes sense directly..
Thanks for the update on what's going on in Miami👍🏽
You're welcome!
Remote work is here to stay, like it or not, that’s a fact!
Yeah it's just boomers who think younger generations have it easier. Gen Z lives and dies by their screens, they are not going to be keen to go into the office if they can find remote work. It will be the standard in the future.
So interesting that you made this video, Michael, showing the Champlain Towers. I was gonna suggest that you contact Nick Johnson for a collaboration and send him the video you made of Champlain Towers a while back. Then I started watching this video and see that you are featuring it again. Good video and important information. Thanks, as always!
Thanks for the thoughtful perspective, im just a regular homeowner who bought my 1st home in early 19 and so thankful i did..
You're welcome! Probably one of the best decisions you've ever made 👌. Its paying off right about now
@@MichaelBordenaro I still find it hard to believe it's now worth so much, 330k
what's crazy is a few years ago I was looking at condos in that area and probably was looking at units in that building that collapsed on Zillow.
I no longer want to buy anywhere that has an HOA. I want to control all aspects of my land and property
Haven’t watched the video yet, but haven’t the speculative investors and big flippers been a bigger part of the problem?
Yes absolutely. It’s not like just one single event caused this situation. It’s a combination of printing too much money, extremely low interest rates, the pandemic, remote work etc. but watch the whole video because I have a lot of interesting things to share in this one
Here in Florida the biggest issue is people moving from NY/NJ/CT and CA with jobs that pay them a lot more than people get paid in Florida and this is decimating the housing market down here, top to bottom. I live and work here and my boyfriend has one of those well paying remote jobs that he moved here with. We live 2 different lives, he has no idea how messed up things are as he has no connection to the local economy except food shopping and going out to eat. He can afford to live here whereas I am seemingly having a much harder time and I have more education and I work harder. Florida is f*cked due to remote workers, on some real sh*t.
Yes. 100%
Remote work at my company is now only offered for a small handful of positions. They quickly learned that remote work is not sustainable for our business and most employees have returned in office or quit / were laid off. I had people on my team who didn't want to return to work and truth be told I'm happy they got cut. We couldn't properly manage them and tasks kept piling up for those still in office including myself. Now we're moving locations in a month and some people don't want to make the drive so of course some are asking to go remote. We said no. Truthfully I think another benefit my company sees in this move is the opportunity to cut more people due to our business sector slowing down. I have nothing against remote work, but let's be real, majority of jobs need people who are physically there.
My friend remote works and I can tell you having observed, most of the day is spent eating, doing non employment related tasks and taking naps, with some work interspersed. It was the biggest bludge ever and yet he was paid so much money.
Thanks for all sharing your thought 🙏 I learned a lot from this video🤓
Glad it was helpful!
Thank You❣️
12:32
They found you 😂
About the building collapsing...from an eastern European architect:
When you build anything where I live (even a garage in your backyard) you are required to have a full project (architecture; structural; electric, heating, water and plumbing) and a few extras, including a geotechnical study (containing drilling samples and lab testing whether the soil is capable of sustaining the building). The fact that such a big building collapsed...is mind boggling to me.
And them not figuring out what the problem was...smells like bs to me. You definitely figure it out if you have acces to the original documents (which are archived at the townhouse, here).
And just like plane crashing, you have all sorts of experts in this industry. There's no doubt in my mind they could have figured that out.
Haha I know! I only saw that after they made the turn. Wonder if security called them 🤔
it is bs. Someone I know well who has lots of pull says it had to do with not wanting to pay assemments. In other words ignoring the problems.
This is when people that are retiring that will be on a fixed income will leave the US. I have already looked at Portugal, Spain, etc..
I’ve never understood the term “fixed income” being used in retirement. Isn’t everyone on a fixed income unless you are commissioned?? A retiree could get a part-time job or do a side hustle to supplement their retirement income easier than someone already working a full-time job. Social Security at least has cost of living adjustments where the days of guaranteed annual increases in corporations is long gone.
@@midlife_minimalist Been used forever pretty much. however you are correct an income from a pension or investment that is set at a particular figure and does not vary (as a dividend) or rise with the rate of inflation.\ is false as they just raised it in 12/21 5.9%. But they will still use the term. But to your comment about still being able to get a part time job, with SS you cannot make more than a certain amount while collecting.
Forcing people to come back to work is to avert having to conduct a layoff. Some of these companies will probably have layoffs anyways. All those companies you mentioned are vulnerable in this downturn.
Yeah. It's just a way to shift the blame from the greedy profit driven corporations to the public.
I really look forward to your videos. Thank you! I’m hearing there’s likely to be another foreclosure surge. Hoping it’s not as bad as 2008. ✌️
Thank you! Foreclosure starts and delinquencies are starting to tick up as well. Probably won't be as bad as 2008, unless the recession gets real bad.
Their intention has never been to save the economy. It's about a massive wealth transference via manipulation of the entire economic gameboard. They tilt the board to one side, everyone runs to the other side....then they flip the board. There's a great presentation that illustrates this mechanism, by Mike Maloney entitled "The Eerie similarities of 1929 crash and today".
Mike Maloney is super smart, I'll have to watch that video! He is the best at explaining real money too
💯!!! Great vid Michael. As a loan officer myself, luv your channel my man.
Thank you! I love hearing from others in the biz like yourself 👌
Great work, keep these videos coming!
Thanks, will do!
If they were skilled enough to get the kind of remote work that would allow them to live in a place like Miami, they’ll find other remote work or create something themselves
I like your factual & no drama style for the vids.
Thanks!
I worked the Towers event as a Special Agent in Miami. Bless the families of the tragedy. I was also wondering about how the property would be handled after enough time passed. I am also a permanent remote worker. I see the benefit of staying remote....it's too costly to maintain commercial office spaces and pay rent/utilities. The Fed has shifted their view and letting the commercial leases run out. My Condo does not permit owners to operate Air B&B units within.
Yes it didn't take that long for it to change hands to a developer. Remote definitely has its benefits. Many condos here in Miami don't allow airbnb rentals.
My South Florida condo does not allow rentals of less than six months and all rentals must be for either that time period or a year or longer. All rental tenants must be approved by a screening (credit and criminal check, etc.), just as is required of buyers/owners. 3 letters of reference/recommendation are also mandatory. These are good rules in this day and age.
Recession are needed. When it comes investors will dump properties because people won’t be able to rent them. This needs to happen if it doesn’t we’re all screwed.
Thanks for the video.
I've thought about this but rents seems to be going up everywhere, even in the places that would seem less desirable for remote workers like Ohio.
I consider Columbus Ohio, Pittsburgh and a few different places in Michigan and they are def cheaper then where I am in northeast but I think they are all going up or cheaper rents don’t become easily available…. More desperation as time goes on…..
Remote work is here to stay and people might have to go back and not but when they will continue to look for remote work the employers are out of their mind in this old style stagnant thinking. You know if they sign these long-term leases and can't get out or buy them out or it's attack right if that's on them yeah sure they can go overseas like they've been going overseas and selling out the American jobs for years and years but many of us have been remote for years. Why wouldn't you want your employees happy to be more productive as it's been proven and you can give them higher salaries because of this nobody there the end of the commercial real estate market is done.
no remote work for people who really do work.
Agreed, no one who is working remotely wants to go back to the office (unless they hate being around their kids or spouse). The companies who allow for permanent WFH will have their pick of the best talent.
@@rachelgreen1368 ah. Speaking of stagnant thinking.
Your information is awesome. Thank you Michael🙃🙂
Thank you Jill!
I moved to FL because I had a remote job, lost it, trying hard to find another one. I don’t drive, though, so I need a WFH job.
Sorry to hear that Brad! I would imagine you are not the only one, and I have seen a few other comments here saying they were in FL and had to leave back to the office.
Great video and info
The guy in the back at 8:26 😂
Haha security 🚔
Would you consider doing a live chat on TH-cam? It would be great for viewers to ask questions about real estate, the economy and Miami. Love your content.
Absolutely! I love doing lives. I've only done a few in the past, hoping to get back to doing more of them soon. Its soo fun interacting with you guys in real time 👌
I also like watching your videos too much to stop! Please keep em' up!
Glad you like them!
8:21 Guard came out like he was going to have to kick some azz
😆
So many companies have gotten away with losing money by not providing what people actually want... All because they're running on debt.
Fractional reserve...........
My job will be working remotely indefinitely as I can do my job without needing to go back to the office. Alot of my coworkers have moved all over the country. 🙃🙂
You are one of the lucky ones for sure!
Couldn't agree more about off loading mortgage backed securities.... the fed was giving lip service with the interest rate increases while still buying securities
It's also related to the ten year treasury yield which is why mortgage interest rates can fall while the fed increases rates
Appreciate your videos. Thank you for sharing
Thank you for being here!
One reason why people don't like going back to office - rush hour traffic jams._
Thnx MB👍🏻
Great content once again!
My question is why is nobody at the beach? If I lived in that area I would be there every day rain or shine. Maybe its school day but surely there has to be a population that would show up every day. I guess electronics have really killed the desire to enjoy the better things in life?
Feels like temp is 101 plus 67% humidity. It’s not that awesome at the beach when it’s this hot unfortunately.
Probably still a little too hot right now- folks will be out when the sun gets lower and when the weather turns. An 85 degree high is perfect beach weather and they will have that in a few weeks.
Like people below said its super hot plus half these condos are empty as many of them are 2nd homes plus, Surfside is a small town.
cause nobody (that is sane) goes to the beach in S Fl in the summer
@@miniprepper8284 it will take more then a few weeks. We are talking about January before it gets to “85 as the high”. It way to hot out here for 10 months out of the year.
When the recession hits many work from homers will be the 1st to get relieved of duties, only to find most other jobs are no longer hiring.
Amazing video! Right when you said you were in surfside I was interested because I followed the Champlain tower collapse very closely. Great video with both talking about that and the remote work concerns. That path seems like such a nice walk way and it was nice there weren't any people on it. Glad you could get some shots of it and interesting that the columns are still there. Have you gone through the 'Building Integrity' videos on it? I thought they were really good.
At my work they used to have a 2 week in the office 3 weeks work from home but went to a 3 day in the office 2 day home model. I am an engineer that goes into the office to work with others remotely and I am the only one in the state at a large company. Kinda strange that everyone is doing the same thing and 3 days in the office 2 days home. Its messed up because if you only work from home 2 days you don't get to have a good sleep schedule with sleeping in because of not having a commute. I have seen other policies like this recently come in and I feel like it is a way to make people slowly quit rather than needing to lay off people.
I didn't hear about the fed increasing MBS's that's pretty strange. That will be a good thing to monitor. I also heard Micheal Burry recently sold a large portion of his holdings.
Thank you! As a local after a week or 2 after the collapse, I couldn't follow it anymore. There was SO MUCh heresay about it and drama, I jus thad to shut it out, because it was crazy. Now that its been a while I would be curious to go and see some of those videos. The remote hybrid model seems to be the way most companies are moving toward, and its always better for them if people quite rather than letting them go and paying unemployment 👍
@@MichaelBordenaro Yeah I could see that being hard being so close to that. Yup I agree.
THANKS FOR THE SHOUT OUT!!!!
Thanks Michael.
Thanks for watching!
Thank you!
Can you imagine trying to escape from Florida with an electric car, not a good thing
I don't think they make electric gas cans yet
What a nightmare that would be! Looking for the next charge...
I can hear Arnold Schwarzenegger yelling "GIVE DOSE PEOPLE JOOS FOR DER CARS!"
About time! Let’s gooo!
Beautiful. 🌊
It sure is!
Yep. I see it too as a remote worker :D
The good thing is I can be anywhere I want.
Like the new doing things differently videos. Thank you from sunny So Cal
Me too! I love changing it up, here and there. So Cal, so beautiful 😀
How scary they are selling a unit in the building next to the one that fell
Another problem with remote work is that the employer loses control of the workers and accountability. Workers no longer want a boss. In some cases this works if you have a reliable, productive worker. Most take advantage of it.
@@ronlamont5623 Agreed
Yep! Lots of lazy ones took full advantage of it at my job. I witnessed it. They didn’t do anything in person so why would they actually my work from home? Lol
@@jbar_85 I ended up working a lot
more from home. Sometimes you never
leave the computer. Wake up and do it all over again. In the office, I'd usually be clock watching to beat traffic
@@markm391 Agree, I work much more now than when I was in the office. Less distractions, spend the time I would have spent commuting working, log in after hours to check in and do more work. Less stress means I'm more inclined to keep working.
video content AND quality is great!! Btw, what camera setup are you using? (thanks)
Thanks! iphone 13 pro max on a tripod. I have a link in my description that shows all the gear I use
@@MichaelBordenaro thank you.. of course, that was the link I somehow overlooked..
Every year the homeowners in my building vote against paying reserves and currently there are none. I disagree with it and vote for us to have them. Based on what you said, does it mean that in 2024 homeowners will no longer be able to vote against not paying for reserves? Love the videos. Thanks for keeping us updated.
Yes thats correct! By 2024 all condos in FL will need to start carrying reserves to keep up with maintenance that can no longer be neglected like Champlain.
All these homes close to the coast are also big financial liabilities. It’s been a quiet hurricane season so far.
Thank you 🙏
You’re welcome 😊
Been WFHing for 2.5 years. Looking forward to company requiring return.
Surfside was very affordable just 8 years ago, I used to rent a 1/1 for under $1000.00
I remember those days! And they are long gone....
Gm Sir 👍. Also live in S. Florida Was born here... What can I say seen it all including many a hurricane. My son's a Realtor go figure.
I love your sunglasses Michael. Btw! I loved to wooden boardwalk. Too bad they have demolished it all the way on the beach
Thanks! I have a link for them in the description if you want a pair 👌 The wooden boardwalk is completely gone now
I love this!
Thanks!!
Very interesting and informative video. Congrats
Glad you liked it!
Building Integrity has some videos regarding the surf side collapse, engineering, etc. It’s informative
Thank you Michael 👍
Very welcome
Loved your interview being on your friends real estate mindset podcast. By the way, what equipment are you using? Your footage is very good for vlogging!
Thanks glad you enjoyed that! It was great being on Travis's show! I am using an iphone 13 pro max for my vids 👌 I have a full list of all the equipment I use on my website in the description if you'd like to check it out.
Remote work is inevitable. Commercial real estate should take a hit in the future