Homeowners Insurance and Property Tax NIGHTMARE is Brewing
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- เผยแพร่เมื่อ 25 มิ.ย. 2022
- Due to numerous fraudulent claims the homeowners insurance, particularly in Florida is SKYROCKETING for many folks. And if thats not enough, add property taxes going up all across the U.S. as well due to massive equity gains the housing market has seen over the past 2 years.
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HOME PRICES and SALES Dropping FAST! Inventory on the Rise th-cam.com/video/MJF5ZSnhA4Q/w-d-xo.html
the reason they are selling & losing $$ is to "get out" - they know whats coming to that State or City where their property is at. They kno the legislation thats being passed! They are SMART for getting out.
You need to do a report on how much it’s going to cost insurance companies if a major hurricane blows through. The days of cheap little Florida homes are gone. They are being replaced with bigger more expensive houses now.
wow at 1:26 just his insurance and taxes went up $3500? or his whole payment went upto 4500?
Let’s all cry for the insurance companies, there a business figure it out
looked at a house in my area the roof was 70 years old. it was a flat roof. Amazing!
Your grandpa and I had our insurance raised from $2300 to $7000 for our home in venice
Oh wow, that is a huge increase! Sadly it is happening to all Floridians now.
dee at 12:45. $275k home value? in colorado denver area. you can't even buy land for $275k.
At least get liability insurance Incase you are sued.
Good idea
Single family homes with older roofs cant even find insurance companies to cover them anymore in Florida
Thats right
The water leaks are what is killing insurance price competition here in Florida. I live in a small subdivision of 29 homes and at least 5 have had their house repiped in the last year including mine. The water here on the East Coast of Central Florida is extremely hard and mineral rich, like most of Florida from the sandy, beach like soil and minerals, that the water corrodes metal pipes much faster down here. Also, in Florida, homeowner insurance companies have to pay all the expenses up front, out of pocket, with no cost to the policy holder, in order to deny claims, so most carriers are leaving the state so the competition is low AND we haven’t even had a bad storm in four years and that hit the less populated central panhandle. Imagine if a bad storm hit South Florida or Tampa!
You are very smart and only speak the truth!!! many realtors don't tell the truth because they want to sell...
Bon Dia, Realtors are by law obligated to tell the truth regarding any property they are selling. If you where lied by any agent or broker you can report them and they will be investigated. If found guilty they will loose their license and can be fined or more.
Realtor bots in the house!!
i like michael bordenaro because he talks the bad part too… other realtors only show the good side
I only speak the truth my friend. I don’t have an agenda on this channel other than providing accurate and valuable information for my viewers👌
@@MichaelBordenaro keep your good job my friend
Once, I did not insure a car and totaled it. I was SOL. I
Won't be uninsured again.
Yep its not for everyone
wait for new insurance rates in Cape coral and fort meyers. insurance will be $2000 per month
It’s criminal and bait and switch.
I’m a roofing contractor. Standard roof is 30 years. You should absolutely get at the least 20 - 25 years if roof was installed correctly
Exactly so how can these insurance companies come to you and say if your roof is more than 10 years old we won’t insure you? It’s criminal
@@MichaelBordenaro lawyers 😊
Dealing with a underwater property today byer beware..make shure u get a roof inspection every 5 years ..
Prepandemic, I was looking at a house in Flagler beach, which at the time was less that half a million. Property taxes were 8,500 and insurance was another 6,000. So, basically, when you own your home outright, you still have to fork out 1,200 a month. Ridiculous. I walked away without hesitation.
Its probably just going to get worse too!
😳
what about higher dedectibles? self insure up to lets say $10,000-$20,000. Then you just pay for catastophic loss only
Look at the homes being built. Florida used to be cheap little houses, RV’s and house trailers. Very cheap to insure. Homes are larger and much more expensive so it’s going to cost insurance companies more if a hurricane comes through.
The hurricanes can only get worse, the rising sea levels are only going to get worse, the heat in tropical areas is only going to get worse. None of these climatic changes is good.
My insurance doubled down here on the Florida west coast. My neighbors all think it's so great that our homes have gone up in value so much. I tell em, well now you pay more for property insurance and taxes. I'm retired. I want my house to be worth 29 cents! I guarantee that when these houses go back down in price, my taxes and insurance wont' go back down.
That’s exactly right. These high home values don’t just hurt buyers. Existing homeowners are suffering to with these massive increases. I can see taxes going down once everything corrects but probably not insurance
I'm guessing you have the homestead and that helps a lot.
@@MichaelBordenaro property values were artificially increased & propped up. NOW, insure that increased value ASSET. Record rises for every industry. Maybe a low rent cottage industry can start up, I’m sure FLA insurance has gone up after that condo collapse last year. It’s tragic.. maybe that will stop people from moving there.
Imagine if insurance companies knew when disasters hit
They’d raise the price
Oh shit wait-
@@ciscoventura there was talk a few years ago how insurance is paying attention to climate change, more severe weather, and of course don't want to lose. I read once a storm is named, any extras you added after that won't be covered in said storm.
Property taxes on our PA home have doubled in 10 years. We sold!
My friend owned a house in Hawaii. The hurricane insurance was about $450 per month. I thought that was high then, but doesn't even compare to Miami insurance cost. Wow!!
Wait this invester at 1:20 is now paying $50,000 per year in taxes and insurance? Then he'd have to rent house for $80-$90k per year?
Exactly, I’m here in Florida, bought in 2020, and my mortgage is 1600 with 385 escrow in property taxes and insurance. Now fast forward to 2022, my property taxes increased 2k and my insurance has more than tripled…now my escrow payment is an additional 1155.00 a month. Absolutely insane…I called many insurance companies and its for the law fraud from the roofing companies and also the increase in value of our home if it were to burn down and cost to replace. So were does this end? “Keep going up”. It will literally get to a point that we can’t afford it anymore if this keeps happening.
Its really crazy, sorry to hear its happening you. It can only go so far before people really cant afford it anymore
Check with KIN insurance.
Does in increasing the deductible to the max make a difference?
Hey can we get an update? How are you holding up?
We have every sort of tax in my state (CA), and I grew up on Abbott Ave not far from where this video was filmed. It is mind-boggling the government can just raise your taxes out of the blue in a retirement state. Rise in property values do not coincide with incomes.
Buy a 10K RV. 500 a month with a pool. No maintenance.
For some people thats the way to go
Not only those celebrities lost millions
But the property taxes $$$,, insurance, maintenance, light bill
Add another 3 million on top
That too!
No house headaches. I want a condo in Normandy Island.
Very informative Michael, and thank you! 👍👍
I lived in Portland, Oregon. My family and I visited Florida 3 times in the past decade. My husband and I love the weather and I recently have been browsing for our retirement home. After seeing this video, I’m having a second thought.
Yeah. You'd be stupid to retire in Florida with what is going on there. Unless it is northern Florida.
Florida weather truly sucks in the summer.
We had the roof scam here in charleston sc .
Oh really Dayton Ohio. Homeowners insurance raise my mortgage payment by 159.00 per month. I only pring in 1.000 per month. What about the poor homeowners. Now my mortgage is gone from 509.00 to 659.000 they want a civil war.
I think it would be more advantageous to have a self funded maintenance fund rather than fighting w/ crooked insurance companies .
Imagine single family homes HOA forcing paid off homes to require insurance..
Florida has become unaffordable
Real wages hasn't been keeping up with housing prices/costs for decades now.
Crazy premiums?? Yup!! They are hitting investors, but you're walking around Normandy Isles next to Miami Beach.. Low end houses there are 1-2 million... Of course investors are going to get hammered on Taxes and insurance without homestead exemption.. The real problem is when they come after primary residence homeowners with outrageous premiums in FL (and zero claim history too!!)...
Yep everyone is getting hit with this insurance debacle
There is no law that contracts you to pay county tax.All attorneys contract you with the county.Even though there is no law to do so.
In 2006 our homeowners insurance went to 2,000. We sold and left Florida. Sold a 10 yr old home we built for 123,000 for 323,000. Then, in 2008, the market crashed. We moved back to Midwest, built a really nice home for around 250,000. All brick and larger then the home we sold in Florida.
If you make the choice of no insurance you better get liability at least.
You know Hollywood!
These are all ppl who live big. They can afford to lose a million here & there. It's only crazy to us who work for a living. Rich celebrities never notice it, unless they lose in everything else they invest in.
our videos are very interesting as always. You are on the mark and I think people that follow you will no doubt be much more ahead of the game with the what is going on in the country. Thank you, keep the videos coming!
It helps to pick where you live. Don’t buy on the beach, no flood zones, no trees, home construction CBS or slab, hurricane windows and doors, metal roof all go into insurance and building costs.
Great video man. Definitely subscribing. Love how you used real life examples.
Here in St Pete our condo insurance policy tripled.
I believe it, its a huge problem in FL RN
I live in Broward. My rule of thumb is for every $50 k of value of the property its $1 k in taxes. So a $500,000.00 house would be $10,000, ($9k with homestead), Insurance used to be about $1 k for every $100,000. The guy who got a $5.2 k quote for a 750,000.00 property got a low quote for insurance. Now when I moved to Florida back in 1996 I bought a 1,800 sq foot home for $138 k, I paid $750 to $800 a year in insurance and about 2.1 k in taxes, that house is probably going for about $450 k + right now so the insurance would be at least $ 4 k, and the taxes would be $ 8 k if you were to buy it now. Wait till you see the assessments on the condos along the beach with the new regulations that came out for maintenance after the surfside disaster, also their monthly fees will go up significantly because they have to have mandatory reserves of capital for Maintenace. Boards can no longer wave this fund with a majority of homeowner approving the waiver. If you look at the surfside disaster, the board and residents knew for years that they needed major repairs and kept voting not to do them, that is no longer allowed anymore.
Tin roof rusted!!!!!
Hawaii $2200 rent 4* or 5* near beach Diamond Head view Great Bus system..
It’s bad…..
As I mentioned in a previous reply, we had to shop home insurance this year due to our current renewal doubling. Can't do that. We did find an insurer (we totally bypassed brokers) that similar to Geico, for auto insurance, does all business online. They only insure in Florida and Louisiana and are currently A rated and underwrite their own policies. Is this good? I can only say that you have to do what you have to do. Luckily we replaced our roof in 2021 so that was not an obstacle. We escrow ourselves, which really makes no difference, but I feel is easier to manage. I'm feeling good about our choice as the customer reviews, too, are very high. If the home insurance problem is not addressed by the Florida legislature, somehow, we like thousands of others will be forced to pull out of Florida... Sadly. Where to ? No idea.. Thx to this administration which is pretty much hammering us down.
NJ home, $450,000 annual tax $ 6800. Ins. $764.00 Allstate Ins. for 2023.
I underestimated the price of the home. It is currently $550.000, I allowed for values going down during the year to $450,000.
In Japan you finance homes for 2-3 generations.
That really seems crazy...I heard over there houses are not built to last and they typically rebuild homes every 20 years or so.
@@MichaelBordenaro there's a young man in our family who married a Japanese young woman. Her family had a lot next door and they gave it to the couple when they were married. They hadn't decided to live in Japan or the US. He was the one who told me that when building a house in Japan, you can mortgage the land and house for up to 3 generations beyond you.
I am a West Coast of Florida resident and retired from the property and casualty industry. Florida HO insurance is mess. The "pup" companies formed by the state legislators are going belly up. They were rated by Demotech, not A M Best. Thousands of homeowners are being forced into Citizens, the State owned insuror of last resort.
There are three AM Best rated companies writing new Homeowners poilices in Florida: Farmers, Auto Club through AAA, and Hartford through the Nutmeg Agency(Conn is the Nutmeg State). Good luck.
I'm lucky I have lifetime renewal. This year the coverage went up 8% and the premium went up 4%
It is getting so tough to get good insurance and affordable in Florida. Especially if you have a single family home. You are lucky!
Here in FL it's becoming more common for folks that own their property outright to purchase an insurance coverage policy that does NOT include the roof. So instead of self-insuring the whole structure they're only gambling with the roof. These generally cost far less. I have a friend down in Homestead with a probably $1.5 mil home who's doing this and pays about $1K a year in insurance.
Do you know the name of any insurance companies that do this?
Lucky you can do that you can’t in NY I don’t think
I’m guessing this is the equivalent of Russian roulette.
That’s interesting I haven’t heard of that before but if it’s available I think that’s great for anyone willing to take the risk and has the cash to do some repairs themselves if necessary
I'm just being super jaded right now but i could see an insurance company denying coverage for a claim b/c the roof that they didn't cover wasn't sufficient and if not for an insufficient roof, the interior wouldn't have been damaged. For example, a hurricane blows the roof off and floods everything inside.
My home in Hialeah FL built in the 60s isn't bad yes it went up from 3,800 insurance to 5,800 taxes are 3500 and my 300,000 mortgage is 2.625 %. I pay 1,249 a month. I pay my taxes in full separate, and my Insurance in full every year. My roof was redone last hurricane 2017 via my last insurance claim. I bought the home in 2005 at 392,500 was down to 180,00 before my divorce. Gave my ex her half and kept the house. Luckily she has a paid home from her parents she's an only child. Its worth 600,000 its a 3/2 two car garage 2800 sq ft with a pool. So I'm under 2,000 a month.
As for home owners insurance, If I paid off my home Id get fire insurance, and pass on Hurricane insurance. I can save those 6,000 a year and put it towards any damage. Hell put on a Metal roof and shutters you'll be fine
Insane , no def not worth buying anything
When I worked for Allstate a few years ago, we routinely rejected anyone who lived within 2 miles of the coast because it was policy. So those people had to go to the bigger risk, shady insurance companies. Not surprised by the $1,000 to $4,500 change because the changes once you go from the known companies to the smaller insurance brokers aren't small.
Roof scammers
Great video, Mike. About 10 years ago a friend, who is a physician, decided NOT to carry HO Insurance. His home was paid off, and he had the financial discipline to invest the amount of what his insurance premiums WOULD have been. I suspect he now has enough to rebuild his house in the event of catastrophic loss.
Thank you! Yes it can be the right move for some people, and the chances of having to totally rebuild are slim to none
If you live waterfront in the Keys than your insurance can cost up to and over 25k per year. For that reason alot of home owners self insure and just invest the money and pull it when a repair, aka hurricane damages, is needed.
2 yrs ago I heard an economist say they during the next big crash people will also lose their homes because they couldn't pay insane property taxes.
Thats looking like it could be the case.
That is the insurance company strategy the 3D's of insurance deny delay and defend
You got that right!
If you buy all CASH. PUT what you would pay in insurance into an Annuity every year , in you have an emergency you have the money if nothing happens you have a nice NEST EGG OF SAVINGS. Ihave been paying insurance for 30 years, if I saved it I would have had ........ 100g plus.
There you go!
Your 2 insurance quotes had extremely low deductibles
I live in Kissimmee Florida ( 15 mins from Disney)Condo built in 2000. I’m 77 years old with no mortgage --- 750sq ft condo--taxes $800---insurance $420--HOA $215. Thank you for your channel !
Michael----I’m living the good life----read my ABOUT PAGE
Thats a pretty good setup you got there!
I see that! Happy for you ✌️
I guess can't apply for homestead
Correct, not when you don't live there.
Good content. You and Reventure Consulting are giving great insight.
I appreciate that Tom! Reventure is great!!
States like Florida that promote "no income tax" as an incentive to move there get you with the high property taxes. There is very little regulation and protections for home owners.
Thats not really true, most of the state has pretty low property taxes, and you are protected if you have a homestead exemption by having it be your primary residence. If you are an investor or its a 2nd home it will cost more. But it was relatively affordable up until very recently when valuations started skyrocketing as well as the insurance scams.
Illinois and new Jersey have income tax and highest real estate taxes In country.
@@pgrut8880 In NJ the income tax isn't too bad but the property tax -- YIKES! On the bright side they do have good unemployment benefits.
All parties involved in the insurance are to blame from the roof manufacturers who say the roof is warrantied for a certain amount of time. The people who want to take advantage of the insurance companies. The insurance companies who don't digitally try to fight a false claim
A negative about not owning insurance: If you own your property outright and choose not to get homeowners or condo insurance, you won’t have any protection against liability claims from people who are injured inside your property. Your attorneys’ fees (very expensive) will have to be paid by you and any judgment against you is also your financial responsibility. Always remember the liability protection you WON’T have if you don’t get insurance.
Flood damage from a broken pipe ( I was not home) a dryer fire ( smoke damage) I had both both. My insurance covered everything.
Excellen point that people dont think of
Absolutely and is a valid concern
This message was brought to you by Allstate.
I thought you could buy a policy for personal liability only?
One way to control insurance premiums is to increase the deductible. That is what I did and it really dropped my premium by quite a bit. I have a $2,500 deductible now, instead of $500.
Good advice Don thanks for including that here👌
How much did it reduce your annual homeowner's insurance? I may look at doing the same if the cost savings is significant.
@@peanutsassyathena I did it about 12 years ago (after an $800K rebuild due a total loss by fire), so those numbers are lost to time and irrelevant now. But it was significant enough. I figured a $2,500 deductible on a total loss is nothing. You should have your agent get you a quote, that is the only way to know for sure.
The biggest issues are in South Florida. Too many scammers and overpriced properties.
Homeownership in Florida is like playing chess. I'm not a great chess player. Glad to just play checkers where I'm at in Reno.
You lose your property and the property will be purchased cash by investors.
Many all across this nation only earn sixty or seventy thousand dollars a year . Much if not all of Florida is completely unaffordable.
I agree it got real expensive real fast down here
Many seniors live in Florida on Social Security. Sixty or SEVENTY thousand dollars is feasible. Many factors come into play when determining affordability.
From my insurance broker in Miami when I asked for quotes on a prospective purchase (H06/condo) last month / July.... :
"Citizens is the only current carrier writing in the tri county area, Citizens is the state carrier,.We have lost 16 companies in the past 12 weeks due to excessive fraud and litigation.
Therefore the only carrier currently is Citizens. The other 12 I have are not writing south of the Orlando area only north for now and event hen in limited counties"
I'm not sure what everyone's thoughts are but I finally made an offer on a house and it got accepted! Got the tax and insurace quote and it was a mortage payment itself! I backed out.
Good thing you checked that before! and its probably going to keep getting more expensive until the situation gets fixed.
wow so what were totals? home price?. Principal and interest?
Great video- i'm in Atlanta, GA and we are getting hit HARD with property taxes increasing as well. Our lender gave us a courtesy call 3 months out saying our mortgage was going up $500 due to property taxes and insurance increases. We had to work our asses off to get that number back down as close to the original as possible !
Wow I believe it! And this is just another check on the board if you ask me for home prices to come down. Everything is just costing too much for most to handle.
Thank God I had home insurance for my house and for my business, when the town apparently burned down I was covered, otherwise believe me it's worth it get insurance
Paradise California November 8th 2018
I bought my home for cash, so didn't need an appraisal. My insurance agent retired, and the new guy is harassing me to get it appraised. My other agent didn't care. I was covered. Period. This new young man will not let UP on me getting it appraised. I am really suspicious of him. Thank you for letting me know young "investors" are buying out insurance franchises as well. No wonder my agent retired early. State Farm has gone fully impersonal corporate bs. 😔 This new guy wants his additional 100 bucks. F***ers. I find fewer and fewer excuses to remain ALIVE. I'm on disability and like millions of others, our COLA for 2023 puts me over the $2,000 taxable threshold. Not only do I not keep a cent of my $170 COLA, I ALSO get to pay over $200 in taxes on top, so next month, my income will go from $1,957/month to just barely $1,700. Meanwhile prices skyrocket. Meanwhile, if I go back to work (I have no choice now) and make $1,500/month for over 6 months, I lose the disability AND health insurance. So, even though I have no mortgage, I just might lose my home. My property taxes have gone up by $250 a year since 2020. My gas and power went up over $100 each. Our retirees and disabled now make up the majority of our homeless today. It is impossible to live on $1,700 a month. Even if I get a job like our elders now have to, I might not MAKE it now, guys. I'm scared. This is why we are seeing 78-year-old clerks, folks.
These newly high insurance and property taxes were. The sleepers I said would catch. A lot of these homeowners off guard and pretty much due folks in.
Desantas needs to step in!
Agreed
Didn’t the Governor step in with the recent special session on property insurance and the new laws passed. How’s that working out?
The new laws only begin to address the insurance challenges. But, it's a hot topic.
@ 21:00 my heart bleeds for those poor people. HA!
The Surfside collapse that killed 98 people less than a year, that scared off most carriers writing condos.
Does home owners insurance cover short term renters bodily injury, possessions etc if you rent your condo half of the year or is that a separate insurance policy ?
I would love to get away with not having homeowner's insurance, however; when I think of all the inconsiderate neighbors in my area, I don't even want to think about the problems I would have without it.
They will like it. Many home owners I know are proud to tell me ZILLOW told them the prices of their home increased 100% in the last 2 years! Lol. They are too DUMB to listen to INVESTORS and INTEREST GROUP! Hope they will learn from experience shortly!!!
Brother you are providing real world 🌎 analysis of what's really going on in Florida. Because you live here. Keep up the great work. 👍🏾💯
In Parrish, FL home built in 2006. Insurance company notified me that due to age of roof they would be cancelling the policy. Was paying $900 & never had any claims. Roof is in excellent condition. Only insurance available was Citizens at $2275. There is clause in the policy that Citizens has a right to increase the premium by up to $700 additional premium during the one year term.
Yep that is exactly what happened to me as well right after I sold my duplex. Everyone will start getting these notices.
Seems to me most people don't care what they have to pay as long as they "own" a house.
I wonder if Dan from San Diego lives near me, as our HOA is even lower, which is fortunate! 40 year home loans! Ugh! I can’t stomach it! Good info about not letting your insurance lapse! As always, thanks for sharing your knowledge!
Maybe! Yes I hope the 40yr loans remain an FHA program for now, but who knows. Yes letting the insurance lapse could be a very costly mistake
I worked 17 years restoring the exterior of buildings … many people don't know but if you live near the sea you need to do a complete restoration every 5 years and that doesn't pay the association or the homeowner insurance that is paid through a loan that the building makes with a bank and apartment owners have to pay for years... apartment owners usually hate construction companies for the high cost of renovations... I worked in a building near your house just off 71st street called king cole and we started swapping the balcony railins for an aluminum model and in the middle of the work they changed to aluminum and glass as a result of all this they paid 2x more
How close is living near the sea? I would be 1 mile away. Does this statement apply to concrete construction?
here all the buildings are made of concrete! the balconies are the ones that suffer the most from the sea air… if you pay attention after 5 to 10 years many buildings have part of their stucco start to break and in some cases they fall off .. so a complete renovation with waterproofing is necessary
Great info! I had no idea you needed to do a complete restoration that often if you’re close to the beach. How many miles away from the beach do you need to be in order to avoid having to do these restorations every 5 years?
a good example is a person who lives by shipping to the beach and leaves things made of metal on the balcony like metal beach chairs, metal ornaments, bicycles, everything will rust in months… the same thing happens with the rebars inside the concrete after some years the cracks caused by the movements and then the infiltration of rain water and the sea air begin, that's why it's so important to keep it well painted every 5 years
@@MiamiParaisoBrasileiro great advice. My current apt is 4 to 5 blocks from ocean and the air rusts everything inside. I will hopefully be owning something 1 mile from the beach soon.
Mike, you left out one very important aspect of insurance. If you choose to go without insurance because your house is paid for, you are leaving yourself open to lawsuits related to liability on the premises. If someone comes on your property and gets hurt and sues you, you could be facing uncovered damages. If you choose to forgoe homeowner's insurance at least purchase a liability policy to protect yourself from any liability related to that property.
Yes I did forget that Henry, thanks for bringing it a up. A few others mentioned it here as well, that is important.
@@MichaelBordenaro Keep up the good work Mike.
Loved this Michael. I swear you really give us a lot to think about. Can’t thank you enough!
Thank you Lindy trying to give you all the best information I can👌
Love your videos, I'm thinking of buying a house and retiring in "The Villages" and was wondering if you thought the housing prices will go down within the nest year or two.
what are your thoughts on The Villages for retirement.
thanks Matt (north east ohio)
Why is any state, let alone a red state selling homeowners insurance? Of course insurance companies are going to leave the state. No private company can compete against the state. This sounds like something California would do. Let the market work. Get the government out of the insurance business. Competition will bring down rates.
Its because many private insurance companies are choosing not to insure here, and so citizens (govt) insurance often times is the only option, depending where you live in FL
@@MichaelBordenaro Of course they don't choose to insure there. They can't compete against subsidized government insurance. This is socialism, pure and simple. What's next, government gas stations?
Insurance, u really don't use it much, to save money raise the deductible sky high
I agree, especially for property insurance
I own a home in a flood plain, so that is additional expense
Yes it is
$4500 a month for taxes and insurance adds up real quick when nobody can afford to rent or lease your property. Those bills don’t go away, but income can.
Exactly that can easily turn a great investment into a horrible one overnight
Be serious. Who would ever interfere with a landlord getting rent from a tenant?
If you decide to go with no insurance on your home, you better take that money that would have gone into the insurance and squirrel it away in a safe place. If disaster strikes, hopefully you will have enough savings to cover the cost; if no disaster happens before you sell, great, you are sitting on a bundle of cash.
Absolutely
East of I-95 in south Fla is 4x vs West of I-95…
I don’t doubt it
Insurance redlining
Alligators, snakes, bears, mosquitoes...
No way.
Beach or bust
Always informative Michael, thank you so much!
Thank you for watching Jo!
Wow that's awful and thank God I dodged the bullet I was going to buy and next to West Palm Beach I would be in so much trouble
I will never and we need to fight
When Powell said new buyers need to wait for a reset, I was shocked. The Fed will commit to removing themselves from the markets and we will see the real housing bottom. We didn't even get to the real housing bottom in 2008 because the Fed turned on QE. Banks are going to have to vet borrowers with more risk built in because they won't be able to offload their loans off to the Fed. These next couple years are going to be very volatile.
I agree and a reset is exactly what’s needed and the most healthy thing for the market right now. Think we’re also gonna see A lot of lenders tighten up on the amount of loans being given as well now that the Fed will not be buying mortgage backed securities