Why Blackstone is selling houses in Florida.
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- เผยแพร่เมื่อ 27 ก.ย. 2024
- Blackstone is selling yet another house in Florida, this time at a loss of $15,000. This house is located in the city of Palmetto, south of Tampa. And reflects a continued effort by corporate real estate investors to leave the Florida housing market before the downturn gets worse in 2024 and 2025.
Access data on Reventure App: www.reventure.app
The number of homes for sale in the area has spiked due to these investors selling. And values are now going down. But they are still very high compared to long-term norms. Reventure's home price forecast suggests that values will keep declining in markets like Tampa, Sarasota, Naples, and Bradenton so long as inventory levels remain high.
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3rd separate video I've done showing Blackstone selling. Hopefully you all realize that this is a thing, and it's happening.
The math on owning rentals simply doesn't make sense in Florida right now. And as a result - the investors keep selling.
Track the selloff and inventory trends in your market on Reventure App: www.reventure.app
Talk to @Garyseconomics about this housing crash and he'll tell you that even more asset owning "middle" working class will have to lose their assets for the super rich to buy low, rent out and hoarde
Can u do a subdivision analysis of chicago?
The loss Is higher if you consider the interest that thay paied in the years that they owned it
it looks more they just bought high to lure people to take high debt and now they are tanking the price
Another great one nick. Keep up the good work. It’s gonna pay off
... and yet Blackstone has bought 1,200 RV and mobile home parks across the country !!! They are raising lot fees as much as 60% !!! Many people in these parks don't have expendable incomes and are being driven to homelessness !!! Pathetic !!!
When you don’t own the land you own nothing it’s as simple as that because you are at the mercy of the land owner
One of Blackstone's objectives appears to be to destroy the middle class and devalue the US dollar. If they're betting against it, making that happen will make them even more powerful than they are now. George Soros bet against the British pound, then forced its devaluation. There are very powerful people working to rule the planet. Same old theme, different players.
@@kathysanders3915 Not an excuse. 20, 30, 40 years ago, these RV owners had no idea they would be thrust into predatory Wall Street equity buyouts. The predatory digital takeover of land wasn't on the minds of these hardworking people, nor should it have been. I'm sick of blaming the victim. It's disgusting that the oligarchy has turned us on each other. This is wholesale robbery, plain and simple. No excuses !!!
Perfect move by Blackstone. Force people out of their actual home who will be then forced to move down to RV Parks. So clever of them.
That income will drop to zero on those parks, and they'll be sold at a huge loss. Watch. When the long time tenants who have some skin in the game leave, who do you think they're going to be replaced with? More reliable tenants at higher rates? LOLOLOL No.
DO NOT buy a house being sold by a private equity!!! I don’t care how good the price is!!! DO NOT BAIL THEM OUT!!! Let them lose their arses!!
I wish there was a union of buyers to make this happen. Good idea.
lol
Buy at the price they paid for.😅
Don't worry, the government is going to bail them out.
@@NabiuMurtadin terrible advice, they overpaid when they purchased. Most of these homes were bought with cash offers above listing at the time.
That first house is worth $179-199….$350 is NUTS. FOMO sheep bought in 2021-2023…bad timing.
Our dollars are worth much less than they were pre 2020. This home will never fall to the $199 level again.
Never say never
Nothing worse than FOMO. Clouds the mind. Ruins thinking. Leads to bad decisions.
@@taterkaze9428 you got that right…
@@je5406I would be careful saying that. I understand your point and in good neighborhoods and newer homes you probably right but some of these prices are going to bottom hard.
$350k for a 1300 sq ft house? That is way too much. Especially with property taxes and insurance. The prices of the houses have to come down.
Dude, take a vacation until prices drop 75%
@@rasbot2haha
Yeah too high for sure
Yes, my formula shows the average home is about 38% over valued.
@@bubbajones4522 What formula are you using.
I was looking at a new house that was reduced from $429,000 to $314,000 the builders are starting to get desperate too. I was talking to a Realtor friend and he told me that the market is cooling down dramatically and that they know it very well. Something big is really coming very soon!
@@DEG1985 $115,000 drop isn’t cooling, it’s in the refrigerator.
In what market?
@@l.j.r.8448it’s a freezer too!
I’m in charleston SC and the for sale signs are everywhere
For cheap??? Any price cuts?
Yeah inventory has spiked there.
Check inventory graph for free on Reventure app: map.reventure.app/dashboard?geo=metro&dataPoint=total_active_inventory&zoom=6.0798164497313305&lnglat=%7B%22lng%22%3A-79.93171670245022%2C%22lat%22%3A32.95586356471635%7D&graphView=true&GEOID=16700
Still needs to grow by more to unlock real price declines.
When the for sale signs were popping up on the outskirts of Los Angeles in 2007, the mainstream media said nothing.
Do you think it people trying to cash out at near the top or something else. I heard Charleston was pretty stesdy with prices?
@@StuartBehrens Charleston had a massive boom. It's not a cheap place to live at all, at least not in the desirable areas. North side is high crime, south of Calhoun you better have DEEP pockets. Most people who live in "Charleston" live in one of the burbs like Mt Pleasant.
The banksters are heading for the exit, the music has stopped and they don’t want to be the one without a chair. I bet the derivative market is overextended to the tune of a few quintillion this time around. By the time the bailouts hit a McDonald’s cheeseburger is going to be $300.
Spot on.
NO, a Big Mac will be $1.50 real soon
lol I wonder what price Big Macs would need to go to for ppl to stop buying them
And if it gets super ugly, they'll get bailed out this is not capitalism it's corporate socialism.
@InMyBrz anyone that starts a sentence with "No" instantly is the smartest person in the room
Wait till after the hurricane 😂
We’ll be fine, meanwhile you’re still poor
@@rdee7406 How is Tallahassee doing right now. Hope those millionaires got their flood insurance paid up. 🤣🤣🤣
@@The_Forever_SoldierI know of a few investors who bought in cross city to just hold to resell for a profit 👍🏻
Pretty shitty to laugh at home owners, hard working Americans who don’t have anything to do with it and might get hit hard on both fronts
Yep another round of insurance rate increases
All these houses should not cost more than 150/170k.
Today price is just a bubble ,almost ready to burst.
Amen! the prices are ridiculous. they need to come back down to reality!
Exactly!
Add in the cost of insurance and they should be lower if you look at the median income.
Certain reality to construction inflation that will prevent these houses going to 150k.
But 350k is still way too high.
Very true.
They're not gonna be able to sell them houses....no one has money! HAHAAAAAAAAAA!
Gotta love seeing Blackstone take a big hit!! 😂
Amazing how most of these houses I’ve found last 2 months are all still sitting.
@@ReventureConsulting The taxpayers will absorb the losses through bailouts. The politicians will look out for the crooks.
the people that do have money are waiting for even deeper discounts
@@ReventureConsulting I work at a business in Cape Coral and these investors were sooooooo smug. "I can move wherever I want", one said. She was here to buy at any price so she can jack rents way up for the "Locals" and live comfy up in "New Yuck". I hope she winds up bankrupt and homeless in New Yuck.
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That first house is now listed for $344K one month later...a 2.13% decrease (-$7,500) from the $351,500 shown here and a 5.70% decrease (-$20,800) from their original purchase price of $364,800 on 8/22/2022.
And that’s not to count maintenance costs, insurance, and property taxes. They have lost LOTS on this property
True value … $ 44,000 😂
I realized rent prices were too high when our landlord tried to raise our rent about $200 a year. so we moved to the Midwest for cheaper rents. The avg Joe just wants affordable rents and a decent place to live. Hopefully there is a major correction with the housing market and apartment rents in 2025.
mine went up that much per month for a 1 bedroom, I wish it was only $200 per year aha
Landlord is doing that every where payday for greedy
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A price-cut from insanely too high to really-really-really too high is not a price-cut that matters.
Great job Keep boycott going STOP RENTING OR BUYING from big investment company's
The lack of rental cash flow is a definite motivating force behind some of these investor sales.
I think it’s more like not being able to afford it with all the inflation going on than boycotting anything.
@@ReventureConsulting maybe you could do a video on how many people are still leaving california flush with cash from the sale of their million dollar california house... i hear over a million a year still leave, but it seems like it's slowing down...
If banks not making new loans- they are not making money. And rent isn’t coming neither….greedy corporations enflTed the market and now it bites them back
I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I'd really appreciate clues and tips on how to reach this goal within 5years.
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Buy a little at first.
Buy with a purpose.
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My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Houses for sale everywhere in Louisiana
Thanks for feedback. Here’s the inventory data for Louisiana on Reventure App:
map.reventure.app/dashboard?geo=state&dataPoint=total_active_inventory&zoom=5.029360236605564&lnglat=%7B%22lng%22%3A-91.18444900524116%2C%22lat%22%3A30.133389460333234%7D&graphView=true&GEOID=22
I have been a REALTOR for 25 years. I wouldn’t pay more than the pre-pandemic value for a house at this time, unless you plan on holding your property for a minimum of ten years.
Even then, you should be cautious
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800k to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after going through a difficult divorce, when my business was struggling, and I needed a financial lift. After some research, I found a licensed advisor who worked tirelessly to grow my reserves despite inflation. As a result, my reserves increased from $200k to around $580k.
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FYI...the have since dropped the price to $344k after this video...
Condo crash is just starting in Florida.
Yeah scary the value drops on certain listings
Now my Florida condo is in demand.
Ben Grieco had a great video on this just a few days ago. Check it out.
My 3 bedroom, 2 1/2 bath condo’s worth has doubled in the last ten years. It rents for $10,000 per month.
If Blackstone knew anything they wouldn’t have bought it in the first place
That’s exactly what I thought! I thought these were professional investors who know the adjustments in the markets effect their bottom line!
Many sellers are still irrational and believe rate cuts are the answer instead of prices coming down.
A lot of sellers are going to be left holding the bag. 50% off or more is coming.
FORECLOSURES by the thousands are coming !
Yeah the rate cut narrative is starting to get pierced. No real bounce back in apps.
Sellers also think they won't pay any commissions on either side! Roflmao
My rent went up in Sebastian FL becasuse my landlord's home insurance & taxes went up. I'm still paying under market because I started renting this house in 2020 and they've only raised the rent one other time. But taxes and insurance are going to be making rents unaffordable and I can see more landlords selling.
Outstanding analyst by Nick! I don't know what Blackstone was thinking when they invested in private single homes. They are going to lose their shirts on this one.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Waking up every 14th of each month to 210,000 dollars it's a blessing to I and my family... Big gratitude to Stella Francis 🙌🏻
Yeah, 253k from Stella Francis, looking up to acquire a new House, blessings.
Started with 5,000$ and Withdrew profits
89,000$
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
Blackstone knows interest rates dropping makes their residential real estate fund less attractive and Donald Trump being elected will mean lower demand from immigration.
So few people acknowledge the Trump thing. There are at least 20 million new illegals in the country. They’re not really in the housing market, but they push other people into it. There are only so many places to live. 20 million people subtracted from the country equates to at least a few million houses, and that totally solves the housing crisis.
If he gets elected and begins deportations as feverishly as he’s suggesting, it’s going to radically change the housing market
Blackstone is part of the WEF plan to make us all slaves. They’re intentionally crashing the real estate pricing to force people out of their homes. Don’t buy anything they are selling. Let the counties repossess them for lack of tax payment. Leave them all empty. Screw Blackstone and no vanguard
Not sure what you mean. Please explain.
We haven't seen anything yet. In 2008, 3 bed 2 bath townhouses in Miami were going for $45K
😂😂
The NJ market still has homes selling over asking but I noticed asking is slowly becoming more realistic now. Renting for the next 6-12 months after selling in July.
I'm a real estate photographer in Washington state and I've definitely noticed an increase in homes going up for sale but not selling for a long time if at all.
It’s a nationwide due to the economy.
If only this was going on in my neck of the woods 😭
I live in the woods too 😁
@@fusion82Don't let Big foot get you!😊
This is just the beginning
Yep
Corporations bought these houses for top-dollar hiking the cost of houses and now they are trying to sell it still for more than most people can afford it at today. Greedy aholes. 😮😮😮
let the banks take them back, then will see reality
You are absolutely right. Home prices are still too high for most buyers to consider buying a new home. Especially, if they have a home purchased before the pandemic with a low interest rate. You would have to be crazy to jump into such debt. I am waiting this market out.
It’s outrageous!!! Sarasota are selling old mobile homes renovated cause they never remove them they renovate old MH .my sister and her husband ex car sellers and hustlers are selling old MH in mobile home parks for $500,000 plus you have a monthly fee of anywhere from $500-700 month ! Who to hell wants to buy a MH and pay a monthly lot rent ! You don’t own crap and she was posting the last few years of all the Bennie’s they get from theses sales : cruises and so on ! Greedy as hell and the prices outrageous! We bought a double wide 1978 MH on Bryant pond w boat house for $30,000 we own the land no lot rent 12 years ago now people in this area that bought MH w pools buying for $25,000 now selling them as is for $175,000! No bites !! I wonder why . Housing is outrageous. In England housing is easy cheaper than in USA
I got outbid by a cash investor for a townhome in Fort Lauderdale that they wanted to turn into an Airbnb
Little over a year later they listed it as a long term rental and it’s been sitting on Zillow for 6 months
take it in the shorts !
as a cash investor, they have ALL their money on the line and cant walk away with a small loss by handing the keys to th bank. typically, these people will hold tight for a while and then close to the bottom they give up because they can take the loss anymore.
San Francisco and the Bay Area housing has not dropping. It is still record high. I haven’t seen any correction yet.
Bay Area is down 2% within the last month
Your Head is Completely in a CLOUD!!! It started crashing almost 14 Months ago.
Primary differences:
Florida banned foreign investors, so there's none of them to prop up demand. Still plenty of this in SFBA, esp for single family homes.
Bay Area still has a ton of tech workers with very high incomes. Working class people can only dream of ever affording a deece home.
You spent 14 minutes walking around. I saw NO evidence that "for sale signs are everywhere".
I don't understand your logic. How many houses can you walk by in 15 minutes? Take a drive for 15 minutes and you will see a different outcome. I live in Florida, and yes, many for sale signs, and many of them been there for months.. not days... months! Right at my neighborhood there is a new built house for sale for just over a year now, another for sale now about 5 months, this is just with in walking distance. In this town there was just over 1600 ouses for sale a year ago, This year, over 9000. Sooooo.... yes, big diference from just 1-2 years ago.
My area does not place for sale signs on the lawn. Look at Zillow and see all the dots that represent for sale
@ely1479 here is my logic. If for sale signs are "everywhere", why didn't we see evidence of this? In 14 minutes I can walk 3 housing additions to make a point. In addition, dots on a web app ( like Zillow) aren't signs. I guess I could be wrong. For the last 40 years, people were either leaving or moving to Florida. It's not a big surprise. I bet 20 to 30 percent of Floridians were born somewhere else. Because of this, it's not a huge surprise that housing is in transition.
Yikes. The crash is coming.
🥰
What would one expect when the ocean off Florida reached its highest ever recorded temperature this year
@@toyotaprius79 How long have they been recording it?
@@SG-ji5ijSince the early 1800s
@@CatLover-g7j That's not very long in the grand scheme of things.
Can we just take a moment and notice that Nebraska is 24% over valued… higher than Texas????
I was just thinking that homes there were starting to look stupidly expensive.
Talks about what does blackstone know what no one else does... and 2 min later explains what everyone knows about real estate in florida from its insurance spikes and taxes over the last 5 years... Good job you figured it out... took ya long enough
The Florida Real Estate market is just like the price of your Reventure app.......OVERPRICED
Their cash cow isn’t investing. It’s selling the app and getting views making videos.
@@kevinc8811 he isn't having it getting these subscriptions he wants at $39 a month. I think it's worth $20 but I don't think he'll ever do that price.
U try and gather all that data . No have no clue cheap skate
@@nosnerd1967 don't be hating because you disagree. if he was hitting his subscription targets he would not be selling all the time. Amen
The reason this home didn't sell might be due to more competitive deals in nearby communities like Jackson Crossing (Highland Homes) and Silverstone North (DR Horton), which offer similar floor plans along with better incentives. Buyers are often looking for the best value, and those incentives can make a big difference in decision-making, but I can be wrong as Im located in Orlando
I am not seeing this in Denver, CO. Prices still way up and no signs of slowing
Same in charlotte
Why? Price is at all time high, interest is higher than when it was 2022 and the suppiles are higher than ever. 😅
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Aileen Gertrude Tippy’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
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😂😂😂😂😂 republicans are doing that?. i dont believe it 😂😂😂😂.
That's not a loss it's a write off😂
It breaks my heart to see a hedge fund take a loss after they tried to take over a market and rip off the American consumer.
What’s horrible is the impact this has on owners who need to sell because their home insurance and taxes are too high.
Men! After this hurricane passes florida, I wonder what the home prices will look like in a few months.
Hopefully better I've been waiting for 2 years in Jacksonville
@ursulamullikin4723 yea, if you're buying in florida, I think you will be very happy before the end of the year. Me in San Diego? 😕 😞 i think I got a ways to go. 🤣😂
Hurricane so far in St. Petersburg isn’t doing much. Hopefully everyone up in Tallahassee stays safe.
@@ReventureConsulting Have you moved there? I thought you were in Dallas.
Blackstone sells investments at a loss, but who ultimately suffers the investment loss? What is the financial backing Blackstone? Whose money is Blackstone managing? Who has the real risk? Ultimately, where would a failure propagate?
That's what I was thinking. I have Blackstone mutual funds in my 401k. Considering if I have to reevaluate my investments.
@@rubenmejia942Absolutely. Have they shown themselves worthy of playing with your money?
Been watching you for 3 years Nick and mostly agreed. But this video you broke yourself in 2.
You told people to "get involved in the market"...... cmon nick. You know better. You have been brainwashed by the high prices to think these levels are somewhat of a deal? Cmon.
Folks fetting laid off, govts raising taxes by exponential amounts? Insurance costs outlandish at best? HOA fees beyond belief?
And then you stabbed yourself. Did you say CONDOS ARE 40% OFF? CONDOS? WITH THOSE CONDO HOA/MAINT COSTS AND SPECIAL ASSESSMENTS? THE FLA CONDO MARKET IS IN DISARRAY! Worst advice I've seen you ever give. Condos. In Fla. At AT NO PRICE are confos a good deal in Fla.
But you do you, Nick. But I think you had better readjust your POV. This market has a LONG WAY DOWN to even begin to be priced fair. 3 or 4 yrs before the bottom. We haven't even gone thru the stock crash yet which is coming. This is just getting going. You have psyched yourself into false beliefs due to outrageous price bubble.
My opinion. But thanks for your hard work as always. 😎🤙
Agreed on the condos in Florida. I'd say unless they are cutting prices by 80% or more, the Florida condo is an exceptionally bad investment right now. I've seen HOA fees that exceed my home's mortgage.
Wait till AFTER Hurricane Season in Florida till you Buy Property there 😂
Haha
I live in NY and not sure where you are getting the idea that NY is not overvalued and is only 13% over... NY has massive amounts of townhouses/Brownstones up for sale as long as TEN YEARS with no buyers. So far as prices going up... I don't know what world you are living in or trying to project NY as some great place, but you are totally wrong. So many apartment building begging for renters because so many have either moved out or NY or can not afford what they are asking.
There are so many abandoned brownstones/townhouses it is not even funny. And the so-called desirable areas are suffering the same problem. The so called Billionaires Row... EMPTY!!!! Lower Manhattan a wasteland all due to people unable to afford rents/mortgages.
Business closures, bank closures, high taxes and fees for everything has made living and visiting NY impossible.
Relatives I have that live in Chicago speak of the same housing/job/income difficulties... at some point people will come to accept the DEPRESSION we are now all in.
We are not in a depression, merely experiencing "depression like" symptoms. Hah!
@@chetmyers7041
Depression like symptoms because you are in a DEPRESSION!!!
DENIAL is more than a river in Egypt
You’re correct. No one wants to see it but it’s right in front of them.
Just because black stone was a sucker and over paid for houses it doesn’t mean we are going to be the will have to come down even more if they want us to buy 😂😂
Property valuations in Florida will Never, Never, Never recover and will instead continue to go down, down, down BECAUSE Homeowners insurance premiums will continue to go up, up, up year-after-year. Buying what was a Five Hundred Thousand dollar home in FL for Two Hundred and Fifty thousand dollars (half price) is still not a Good deal when you have to pay twenty five thousand dollars per year in Homeowners and Flood insurance premiums each year that are only going higher every year. All throughout the ages people have always migrated to safer and affordable areas. The Exodus from Florida is just beginning.
FLORIDA FLORIDA FLORIDA. I don’t live in Florida. Tell the rest of us what is going on elsewhere.
The idea that the NE isn’t going to see significant price declines is absurd. It’s disappointing to hear a supposed RE expert say that and ignore the major red flags looming. I think you should revisit your hypothesis.
Rents are increasing in Central West Florida because people who cannot afford their coastal insurance are looking to move inland. If they don't have the credit to buy because they lived their overextended coastal life where u r today, then they rent. Prices are still sellers favor.
Institutions like Blackstone have trended the price of these homes to the sky a couple years ago. Unsurprisingly, institutions like Blackstone today are now starting the trend of crashing the market the same way, leaving the trail of out-priced buyers in it's wake. Well done!
No bubble is bursting. Individuals are not walking away from balloon mortgages. Hedge funds and the like may take a loss, but they will not walk away.
DeSantis barred entry to the wrong New Yorkers! Now he’s stuck with another collapsing real estate market!😊
Greed by all these investment companies.
I wonder how much will be a total loss from the hurricane and shifted to insurance.
How is central Florida : Orlando is market dropping? The house still very expensive!
Nick need to come and spend two weeks in Scottsdale and Phoenix valley, interesting housing bubble
Lol HOA at $1,400/mo, that's not ownership, you're just renting but with more steps.
Winter is coming
are you kidding me? 2120 rent for a barely 1300 sqft house?!
Not just florida. Everywhere. And they have further down to go
You are making the same video over and over and over.
And the gullible think they’re going to buy these houses for next to nothing. They have come to the realization they’ll likely never drop to a price they can afford.
@@kevinc8811The stock market from it's 1929 high to it's 1932 low dropped 89%. I am not saying this will happen to homes. Just food for thought.
@@jimkelly4214wow, that was dirt cheap
Hang on to your cash people, it's not buying time yet...
Writing from a hotel in Gainesville. This is the third dangerous storm that curled into the Florida Panhandle in 13 months and there is plenty of tidal surge and wind damage "downstream." Florida has been pummeled by storms and that HAS to have an impact on potential buyers. Of course, the insurance aspect is directly related to this.
I am strongly considering leaving the state. It's pretty stressful for retirees. I spent two days moving things away from windows, putting patio furniture and plants inside, going through important papers to take along...
It's becoming an annual ritual and more! This hotel with 120 rooms is packed.
Phew - good. Bring the prices down. I need to buy a house in Pinellas, South Hillsborough, or Manatee county asap! I’m currently in Palmetto. Can’t believe many of the the new home builders prices INCREASED this month 🙄
There is that 18-year pattern showing its cute little head.
Historically, real estate has had a high to high every (approximately) 18 years. See the math? 2006 was the last high. After the high comes the fall. The rate of fall is all that needs to be seen. The rise was sharp and aggressive. A sharp fall is to be expected.
18 year housing cycle is interesting. Can also do it with sales and builder starts.
Clueless!
that cycle of increasing prices was fed by steady increases in the number of households with 2 incomes. that is no longer the case. my guess is that over the coming decade the labor used in housing will be dramatically reduced (due to new home build techniques and AI robots) and with WFH, location is less important so people can move to places with more land. we need policies that penalize large land owners with unproductive land held for investment purposes, so it gets put into the hands of developers. if were possible to build new homes for $250K in nice areas, then why would anyone pay $500K or a million? build, baby, build should be the mantra of a Trump presidency.
Good work Nick!
Stay in your market/lane regardless of what others request. Network with other TH-camrs to bring geographical areas/local content. You’re doing a great job in the Florida market.
This is happening all over the country with few exceptions.
as an investor, 15 k means nothing..
Welcome news. Thank you.
For Rent
For Sale
For Closed!
Wow, 2025 gonna be exciting!!!
Shaping up to be that way
people want to own houses not rent them
Helen isn't helping either.
Them people in Florida ain't gots no insurance
@12:41 - SOUND FAMILIAR?
Way too early to be in….
We bought in Anaheim Hills, CA in March, and we just got a giant supplental property tax bill, apparently our house has a 120k net taxable value increase since our purchase. 🤷♂
They been absorbed!
What's going to happen in Florida this weekend? The narrative has been that insurance is too expensive, and homeowners were rolling the dice and forgoing homeowner's insurance. Cut to today, a Category 2-3 hurricane is about to make that decision real.
We put a sign on our property asking the hurricane to spare us and move a county over.
Desperate times call for desperate measures ~Hypocrates~
Every hurricane just raises our insurance.
why is Blackstone selling? Simple prices are still high and from rental perspective they cannot get the rents and the cost of carry in FL is sky high with insurance. Very likely we will see recession which means more pressure on rents as people will not be able to afford the monthly expenses. All housing crashes start in FL and make their way everywhere at some point later, this is largely because FL's economy is highly dependent of consumer spending they don't have a ton of heavy industry the businesses mostly support wealthy retiree's and this who come to vacation when things hit the skids people pull back on spending and regular folks in FL are hit pretty hard. To put it succinctly an oversized portion of the state economy is driven by discretionary spending. This is running for the exits, let them rot they have conspired to raise housing prices in the US, this is "the playbook" they control the an outsized percentage of the rental housing in certain markets so they can effectively set the market rents and it seems like they are failing to find tenants who can pay.
I live in Manatee County, there are still developments with thousands of houses in the beginning phases of construction. Things are definitely going to get interesting here to say the least.
Buyer beware. We looked to buy a 3 BR, 2 Bath, pool, Lanai home in small town central FL, 2005 price around $350 K. We rented VRBO. We bought such a home for $150 K in 2012. Previous owner build that home for $250 as an investment. Sold under distress. Zillow says that home is now $350 K. Home prices in FL are volatile.
It's a gully.
If you think things are bad now...just wait what happens to the homeowners insurance market after Helene
Don't buy. Unless you can get a 60% or greater discount. Never try to catch a falling knife!
Nick is trying to set a 25% bottom. Don't believe it. You'd be a foul to buy at any other than MASSIVE discount.
Builders in Boise are dropping prices. CBH homes, which is like a local Lennar, is dropping theirs 35k and 40k, another local builder Biltmore dropped some of theirs by 40k today. I'd love to see a Boise video 😉
Once a housing mkt cracks, doesn't it take 3-4 years to bottom? Last time I saw a crack happened end of 2007 - bottomed around mid 2012 correct? So 2008 thru 2011 = 4 yrs. There is no hurry due to pricing to get in. Of course there are other parameters, but consider a conservative financial approach where cash is put in precious metals (hedge against politicians devaluating the dollar) and waiting until taxes/insurance and the price come to meet reality of long term economics. Sell the PMs (probably for more fiat than you paid) and buy your house then.
All real estate is local. I’m in the Capital District of NY. House a few doors down from us out there house up for sale. 3600 sq ft with 2 🚗 garage, about 1.2 acres for $600k. Went u ser contract within a week. There dozens of cars at the open house.
The reason is we never had the national home builders come in n build. There is plenty of work nearby (Regeneron, NYS, Semiconductors, etc).
I live in Fairfax, Northern Virginia, and home prices here are still very high. Especially compared to other states, the decline in housing prices is not being felt as much. Rents are incredibly expensive as well. I'm planning to buy a house, but it doesn’t seem reasonable to buy at these prices and take on mortgage risk. Housing prices in Northern Virginia are comparable to those in California.
It's funny that some people think that Blackstone is going to suffer 😂 They're mission is destroy the middle class.
1. Buy homes, inflate house prices and rents.
2. Sell homes at a loss forcing home prices down to below what many people paid. Owners are then underwater and many flee to RV parks
3. Buy RV parks and jack the lot fees
4. Middle class goes bye-bye.