Insurance rates up 100% in Florida over last 3 years. Citizens is doing ANOTHER insurance hike of 14%. The crisis will only get worse. Inventory will keep hitting the market. The question is: will it be enough to bring down prices in a market like Miami? Track the data for your city and ZIP code in Florida on Reventure App: www.reventure.app
@MHiggins4 күн бұрын
Big problem is that when buyers go to the closing table they need to have homeowners hazard insurance to close with most mortgage lenders. So this crisis is hitting home owners and home buyers from both sides.
@MyLoganTreks4 күн бұрын
53% insurance increase for some homeowners in the FL Keys. Thanks Ron Disantis for making Florida unaffordable. He removed the 30 % rules too on insurance roof replacement so more money spent on litigation after a hurricane
@Ent131114 күн бұрын
Florida was doomed after we voted for a $15 minimum wage in 2020. The amount of people moving in from areas like New York, Illinois and California only made the problem a lot worse.
@user-vb8yf8be3l4 күн бұрын
These houses are crap It you could afford 1.6 what are you buying a dump that is worth 22 000 The same thing happened in CA
@plektosgaming4 күн бұрын
@@Ent13111 $15 an hour people never had been able to afford a home and never will. $15 an hour wasn't enough to own a home back in 1984, even. So those people are 100% not a factor as they don't participate in the market at all.
@JersderakerguoeКүн бұрын
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
@berniceburgos-Күн бұрын
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
@RaymondKeen.Күн бұрын
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
@SandraDave.Күн бұрын
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@RaymondKeen.Күн бұрын
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
@HectorWhitneyКүн бұрын
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
@frankrusso20934 күн бұрын
Forced to sell a home is bad but what's worse is when your forced to sell and no one is buying.
@justinsamuels33054 күн бұрын
There are always buyers. They need to lower the price significantly to bring buyers back. Until then, people like myself will wait, and wait, and wait, and wait. Until true value is realized.
@richprokop51554 күн бұрын
WHO THE HELL WILL BUY YOUR HOUSE WITH HUGE INSURANCE INCREASES?? NOBODY...
@CC-ii9hg3 күн бұрын
You go, girl!
@ShalomUSA3 күн бұрын
@@justinsamuels3305 Some folks can't afford to take less. They're stuck.
@kevingarabedian48913 күн бұрын
Where is this happening right now?
@steven43154 күн бұрын
Florida- New York prices, West Virginia wages.
@chrisculhane37773 күн бұрын
Of course it's a red states wich might as well be anti worker like south Carolina wich governor brags about being anti union. Like most red states right to work for less laws
@brianmatthews41493 күн бұрын
Well said.same with AZ. That's why they crash the hardest.
@Thiago_TT_MIA2 күн бұрын
Unless you work for Grandpa Joe Biden. Im raking in the doe. Thanks Joe!
@jbell68522 күн бұрын
@@Thiago_TT_MIAhard choice between Grandpa Biden vs Inmate Trump.
@winstonsmith62042 күн бұрын
😂😂so true
@palebiss16464 күн бұрын
For a piece of junk property, people in California are willing to pay close to $1 million. California is losing people and businesses, yet the cost of homes there hasn't decreased. Here, nothing makes sense.
@LouisMorganxb34 күн бұрын
Yes, I completely agree! That's why in August 2022, I paid 685k with a 4.375 interest rate to purchase my second property in San Diego. The property is currently worth $895k. I've already increased my ownership by over 30% in less than two years. There's no need for me to sell because I'm making over 90k in rental income from my two ADU studios, which pays my mortgage each month. Not to mention that I view my ridiculously low rate as a benefit.
@palebiss16464 күн бұрын
I'm sorry for first-time homebuyers who could never afford to buy one in the first place. I have no sympathy for first-time homebuyers who could afford it but decided to hold off because they believed the market was collapsing and was now priced out.
@LouisMorganxb34 күн бұрын
I don't panic because I have an excellent professional analyst in *Leah* *Foster* *Alderman* who helps me adopt an investor mindset and only purchases properties with strong cash flows in desirable neighborhoods.
@LouisMorganxb33 күн бұрын
*Leah* *Foster* *Alderman*
@LouisMorganxb33 күн бұрын
I don't panic because my financial analyst is professional she helps me adopt an investor mindset and only purchases properties with strong cash flows in desirable neighborhoods.
@gjsthreefoursevinoneone89454 күн бұрын
Lived in FL for 34 years. What the primary causes are predatory roofers with assignment of benefits claims, shoddy roof jobs, the big ambulance chasing legal firms, shoddy house construction. Auto insurance is the same.
@Arthur-Silva4 күн бұрын
My friend basically got his entire roof replaced for “free” or so he thought he did. The money he saved he’s now paying back and then some, his home insurance tripled.
@sailingaeolus4 күн бұрын
Friend, did you forget outright fraud...?
@christaylor83374 күн бұрын
Also, the fraud is rampant. I am a contractor in Sarasota. After the last hurricane, I'd estimate 30% of all new roofs were not needed. 50% of all fences were already dilpidated before the storm but the insurance companies, and payees, got to buy people a new fence. It's a problem.
@SC-or2ek4 күн бұрын
Nothing is free especially With insurance. Insurance exists to make money 💰. And out the lowest they can 😅
@trentp1514 күн бұрын
Couldn't be, ya know.. hurricanes.
@danielsnook50292 күн бұрын
I cancelled all 8 of my policies on my rental homes in 2023. I'm now among the self-insured. My houses are in a relatively safe county (Marion) yet the premiums went up between 80-130%. Screw the insurance companies!!!😡
@neilkurzman49072 күн бұрын
You do realize you have to pay based on your state, not based on your individual home
@angie-xy5sf2 күн бұрын
can you tie your homeowners liability policy to your rental homes.
@angie-xy5sf2 күн бұрын
@@neilkurzman4907?? he dont have to pay he only needs liability insurance l. renters have to have their personal property insurance
@angie-xy5sf2 күн бұрын
dont blame you. if tentant starts fire their insurance pays I WOULD DEMAMD YOU are on their policy
@neilkurzman49072 күн бұрын
@@angie-xy5sf Tenant policies only cover contents.
@martinmillard57764 күн бұрын
Greed rules our country.
@lockhamj3 күн бұрын
Selfish politicians to be exact
@UnordinaryIzz3 күн бұрын
Finding a way to Get money out of politics is the way to get things more stabilized. Politicians will do where ever the money comes which by default isn't going or looking out for the peoples interests at all.
@ryansilvernell9153 күн бұрын
So its desantis fault? Not big insurance for jacking up prices or joe biden/fed reserve money printer for inflation or all the millions of people moving here creating insane demand bcuz desantis looked after us and kept us open during covid when their states didnt?
@jdog22c343 күн бұрын
Thank goodness that human trait stops at the border, lol
@ryansilvernell9153 күн бұрын
@@jdog22c34 WOW your soo smart! You really think him saying that implies that he thinks greed doesnt exsist outside this country? Does he really need to be that specific? Besides, he can really only speak for his own country...
@e43003 күн бұрын
People in Florida are just like the people in Las Vegas and Phoenix. They can't get enough of the same thing. (Yes Master, May I Have Another)
@RomeliaGomez-Calmell7934Күн бұрын
🤔🤨🤨😅
@stargazer50734 күн бұрын
Crushed by: home insurance, property tax, HOA FEES and assessments.
@Yui789esss3 күн бұрын
But lots of things have come down as well… subscription cable, security cameras, home improvements (diy and handyman apps), electricity with more efficient electrics …..
@Peepppinpppper2 күн бұрын
@@Yui789esssand I just got my insurance quote it’s 2k less than last year idk what they are talking about
@ReventureConsultingКүн бұрын
Not to mention rising mortgage rates for anyone new buying into the market. Numbers don't make sense.
@glebb2154 күн бұрын
Just met a guy today selling his house here in Jacksonville..moved from DC 2yrs ago & going back WOW.. Video on POINT 👉🏾
@George-ri6vg4 күн бұрын
I am in Jacksonville as well. This is a very common thing. It’s been happening all over Florida and that’s what happened in 2008 as well.
@TS-rd7oy4 күн бұрын
Thank God
@lerar284 күн бұрын
Also in Jax, in a bunch of open houses I've gone in it seems a lot of young professionals who moved here over the pandemic moving back to Midwest or Northeast home areas.
@George-ri6vg3 күн бұрын
@@lerar28 100%, I was in Gainesville for almost 10 years before I moved here so it’s a little bit different for me but most people that move from other states they don’t realize the lifestyle and the culture of Florida so it makes perfect sense that they want to move out of here. Florida is not for everybody. I grew up inGreece, but I have been in the south for 20 years so it’s a little bit different. I’m used to the way of life.
@nathanwoodruff94223 күн бұрын
_"Just met a guy today selling his house here in Jacksonville..moved from DC 2yrs ago & going back WOW.. Video on POINT"_ You wouldn't happen to be a CNN reporter???
@josemilanes79373 күн бұрын
I live in Miami in a town house which I own and it’s 1200 square feet. My HOA insurance covers my roof and walls. So I have to just get dwelling insurance. I went from 1100 to 1200 to 1800 to 3900 and my renewed is in July and it went to 4100. I only qualify for citizen. So this is very true about the insurance.
@jeg54383 күн бұрын
Im in Minnesota in a condo. I don't have any homeowners insurance.
@ReventureConsultingКүн бұрын
Thanks for the comment. That's crazy. Quadrupling in insurance cost.
@als75944 күн бұрын
I sold my condo on the beach in Naples back in 2021. I was paying $1,150 a year for homeowners insurance policy. The present owners are now paying $6,100 in 2024.
@josepha.r58393 күн бұрын
In 3 yrs?!
@gsftom3 күн бұрын
Whoa!
@lockhamj3 күн бұрын
Holy shit, I thought I was passing high insurance
@petradjokoo21502 күн бұрын
Damn
@vmoses19792 күн бұрын
Wow! That is a scam. The risk of hurricane damage has not increased to such a degree. And the value of the house is the not the basis of what premiums ought to be. It is the risk of having to pay out.
@Juliet8754 күн бұрын
Florida has always been a Boom/Crash state. Thanks Nick!
@user-cv9cd4sq2nКүн бұрын
Since when? lol…Florida is only 70 years old haaaaasas……what are you talking about? …..boomers ruined it
@MRBURNTTOAST111Күн бұрын
@@user-cv9cd4sq2nmeaning it’s always one of the first states to bust/boom like the bust in 2007 and the boom in 2020
@kyul93574 күн бұрын
5k mortgage 1.7k insurance 1.7k taxes 8.5k monthly payments? You have to make 400k to live in Florida
@ambivertical4 күн бұрын
Why 400k
@dancox32514 күн бұрын
nah. you just need to be on enough government assistance programs.
@joaquinjr25704 күн бұрын
@@dancox3251the government assistance program aren’t helping people who’d qualify for a mortgage of 5k
@wwjccsd4 күн бұрын
Nah once you pay off housing then food and car at most like 20k a year. So like 150k would still be comfortable.
@dancox32514 күн бұрын
@@geocam2 'conservative' doesn't mean low numbers of welfare recipients, indeed the red states tend to have the most people on welfare for lots of reasons I won't get into. As far as quantity, there are more than enough Federal programs, subsidies, etc. that can be tapped into but Florida also has additional ones that are local.
@MCC8764 күн бұрын
It’s sad. California and Florida were the two states people dreamed of moving to, but now both are becoming unlivable.
@nathanwoodruff94223 күн бұрын
_"but now both are becoming unlivable."_ California is becoming unlivable due to Gavin Nuisance. The only place becoming unlivable in Florida is Miami and everyone there votes blue no matter who... Both California and Miami got what they voted for... They get to live with it. I was born in Pensacola. My mom lives there my older brother has lived there most of his life. Florida panhandle is one of the best places in the world to live.
@MM-kf3gq3 күн бұрын
@@nathanwoodruff9422 never ever a republican felt
@coolbreeze2.0-mortemadfasc133 күн бұрын
@@nathanwoodruff9422lol Yes, Florida insurance is through the roof because of Miami. The GOP runs Florida, no one wants to hear you trying to avoid holding REPUBLICANS accountable.
@nathanwoodruff94223 күн бұрын
@@MM-kf3gq _"never ever a republican felt"_ If that is what your feelings are teling you. Or maybe CNN told you how to feel.
@lisabracken2733 күн бұрын
Both beautiful states with beautiful weather ruined
@jgg2044 күн бұрын
As they say about Florida: when Florida isn't bubbling, it's crashing
@destroya33033 күн бұрын
Just have to weather the storm. Fitting metaphor.
@ReventureConsultingКүн бұрын
It's funny how rarely Florida is priced at it's long-term average. It's usually above or below.
@jgg204Күн бұрын
@@ReventureConsulting yeah it's one of the least stable real estate markets in the nation, next to the Southwest. I attribute that to increasing influx populations, lots of buildable and undeveloped land, etc. It's like a night and day difference with, say, the real estate market in Northeast which is stable.
@Ben-kh4le20 сағат бұрын
Past 15 years ive waited for a crash - feminist losers lolll
@leedanielson74524 күн бұрын
Northerners moving back to where they came from and getting out of Florida is a great thing!!!! Thank y'all very much!!!👍👏🏻👏🏻👏🏻👏🏻
@christaylor83374 күн бұрын
But who is going to act like an ass at restaurants now?
@dan-qe1tb4 күн бұрын
My aunt and uncle are two of those people. They live in Orlando, and they're not leaving. As far as I'm concerned the state could do without you and your family and their bigotry. Most of those out of state homeowners are probably richer than you, and smarter than you. Florida is nothing without out of state investment in real estate, and tourism.
@leedanielson74524 күн бұрын
@@christaylor8337 Right!
@Horatio1886build4 күн бұрын
Yep ,Yankee go home! Before they do any more damage to Florida. I used to love going down there in the old school Wild west ( key west)Florida hey day of the 1970s . Southern Ocean Racing Conference( SORC big time sailboat racing working on rich peoples yachts)inexpensive cottages to rent,lots of fun ,crazy 70s parties , little substance enforcement. I guess the pretty party girls from back then are all the " Golden Girls" now shacked up together trying to make rent after their diborces or they nagged their husbands to death.😮Oh I'm getting old, but good for one more wild adventure.
@fabuloushostess61714 күн бұрын
Tell them to stop by Georgia and pick up a couple more of their other selfish douches that took our kids' inheritances away.
@TylerofSc0043 күн бұрын
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 48.
@Richmind-ir5zi3 күн бұрын
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
@Mitch10bands3 күн бұрын
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
@Marianela-r3v3 күн бұрын
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
@Mitch10bands3 күн бұрын
'Kristin Amber Landis' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
@Marianela-r3v3 күн бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
@talkingonline8214 күн бұрын
Not that Im defending insurance companies but its kind of hard to insure a property that jumped "70% in value" in 2 years. What did these dummy homeowners think was going to happen with the biggest residential real estate bubble in world history for such ridiculous home prices. This is in addition to rising property taxes. Wake up America, YOU ARE GETTING PLAYED!
@vmoses19792 күн бұрын
That's not how insurance is supposed work. Insurance is based on the increased risk of an event happening not that the value of your home is worth. Otherwise insurance rates in NYC and coastal California would have increased the most.
@juliuscheng57882 күн бұрын
@@vmoses1979 But that's the thing - what's the point of insurance if it will only pay for a fraction of what it takes to replace the home? And what makes Florida more problematic is the need to build stronger than the previous structure to satisfy building codes that have to account for hurricanes.
@vmoses19792 күн бұрын
@@juliuscheng5788 Insurance have companies have banked billions over decades. Their business is to figure out the risk and be prepared to pay out clients in full. This is not a non profit service. The reality is that the premium increase over the last 5 years cannot be justified by the increase in home values. Ultimately this Insurance shoukd be taken over by the state since private companies will just abuse the little people.
@marylander37982 күн бұрын
I think its moreso due to FL being so vulnerable to climate change impacts coupled with high cost to replace/repair when homes are damaged or destroyed. so the value is a factor but the main issue is actually risk of natural disasters.
@vmoses19792 күн бұрын
@@marylander3798 But risk of natural disaster hasn't doubled as premiums have. These insurance companies are making sh*t up to justify higher revenues.
@johnwebb71633 күн бұрын
Nick I live and work close to this area... NO JOKE I think more than 1/2 the population is on welfare, collecting "disability" checks, on section 8, medicaid, food stamps and on Medicare early. It wound be interesting to see the data on what percentage of the population is "disabled" or on Welfare.... I couldn't image buying a home for over 1m and all my neighbors are on welfare and there are chickens running around. This is literally the story for MOST of Miami Dade.
@CarsandCats2 күн бұрын
Disability must pay more than a decent job because I see people that I know who have quit their jobs and now have MORE money than before and they are not disabled! They just choose not to work and contribute. It turns my stomach.
@johnwebb71632 күн бұрын
This is why the Social Security program is FAILING in the country.
@user-wm3vo9uw3n3 күн бұрын
I live in Boulder Colorado and the rent here is the same. No ocean no hot chicks no anything just homeless people everywhere.
@equityjustice26953 күн бұрын
Florida is worse, the chicks are all plastic and ran through 🤮. Plus we have hurricane weather 🌀. Nothing nice about Florida
@brianmatthews41493 күн бұрын
No hot chicks.
@dumpsterbaby31552 күн бұрын
aint no hot girls in Florida
@uog2932 күн бұрын
You don't go out enough The chicks are athletic and educated maybe go for a hike or a beer instead of right handing all night long
@badsawww2 күн бұрын
It use to be nice
@WalterLeeHamptonII3 күн бұрын
Sounds like a correction in price is coming. That’s good for Florida.
@sharoncrawford71924 күн бұрын
I lived in SW Fla for 25 yrs. Wages are terrible.
@mastaskep4 күн бұрын
I really dislike what these investors done to my home state. Ignorant greed
@thefpvlife77853 күн бұрын
Desantis allowed it. He’s a bum
@Whats.thissa2 күн бұрын
Nope......it's more than that...........
@Whats.thissa2 күн бұрын
If you don't like FL. ....... GTFO us locals can't stand and never will tolerate Tommy Bahama Hey dude wearing Kyles and Kevin's.......stay out so you don't keep on whining about the problems you caused.......us locals will be just fine
@mastaskep2 күн бұрын
@@Whats.thissa enlighten me what?
@neilkurzman49072 күн бұрын
@@thefpvlife7785 Oh, it’s not just DeSantis. It’s your previous governor too. And the one before that I believe.
@RedPandas31114 күн бұрын
Never overpay for a house in a neighborhood swarming with chickens 😂
@benjaminolsen23814 күн бұрын
I love my neighbors chickens! The rooster crows in the morning and it makes me feel like I'm in the countryside. My ex girlfriend couldn't handle them though and would flip out cursing at them.
@DavidS-bm2st3 күн бұрын
I got chickens in the city and a few others closeby have them too, of course our homes are priced less than a third of the national average
@urbanteck3 күн бұрын
@@benjaminolsen2381 Yeah not everybody wants to put up with that. My neighbor did the same S# but he had about 15 roosters.
@HoldenMcG3 күн бұрын
Yeah, saw a few of those houses with bars on the windows to keep the chicken swarms out da' house!!! 🤪
@pitbull24843 күн бұрын
Clearly you've never lived in Hawaii or Guam
@mattdecker67914 күн бұрын
Last fall, my son accepted a public school teaching job in Doral that paid $48K per year. He struggled to find housing he could afford on that scrawny salary, eventually commuting daily 45 minutes and living in a dump. He is leaving for Ventura CA where he'll make 50% more and rents are about the same. The Miami housing market is truly awful.
@mike-uw6wt4 күн бұрын
Florida doesn’t value education.
@josepha.r58393 күн бұрын
And, the weather is much nicer there. I wouldn't mind Ventura.
@edmundmcgrath2133 күн бұрын
48 K is plenty for a teacher don't kid yourself he's not a brain surgeon and with hoilidays and summer vacation teachers work 6 months a year and have good pensions that no one should get. Many of these teachers lifeguard for 3 months in the summer as they have off at least 3 straight months while I work 50 weeks per year with no time off and am way more highly educated
@robertpierpont22623 күн бұрын
@@edmundmcgrath213 by your own logic you are not very smart. if a teacher has it better than you do then who is the smarter & more educated one? That said you are wrong, take on a teaching position, try that on for size, but na you would rather work 50 weeks per year because you are so highly educated... dunning kruger much?
@mattdecker67913 күн бұрын
@@edmundmcgrath213 You miss the point. At $4K/month, $1500 for rent would be the absolute maximum a young professional could afford. Miami rents are $3000/month and up. The ratio simply doesn't work for most of the people living there, no matter the occupation.
@bfmgxdx3 күн бұрын
Realtors are still blowing smoke up owners butts with what their house value just to get the listing too. You said it all in one word…..GREED.
@lindaludwig96553 күн бұрын
People are greedy and ridiculous. Those houses in Florida are not worth a fraction of what they're asking and they put these houses on the market after they maybe painted a door and they want like you said $400,000 more for it. It's insanity!! I live here and I sold my farm for so cheap the end of 2020 and I can't even buy a home now and I'm retired . It's so sad and I've had five homes here I just can't wait for it to become another 2008 to tell you the truth!!
@pirate91544 күн бұрын
For sale signs and open house signs popping up all over Sarasota, NorthPort and Venice areas. Also, new Single Family Homes and Condo new builds are grinding to a halt. It;s happening fast!
@solarryan97624 күн бұрын
We sold NP, leaving pc/florida asap. NP is in for a WILDDDD RIDE
@JackMeOffJarJar-vk8vw4 күн бұрын
Miami sucks. Hope it drops 90% and no one comes back to buy it up. Garbage!
@garymuhlenforth72514 күн бұрын
Bit of a chip on your shoulder wouldn't you say. What did floridians do to u ?
@trentp1514 күн бұрын
Miami has a democrat majority, and democrats are far more likely to abuse capitalism to the point of fraud. Just look at California, New York, and Chicago.
@yellaboymike5614 күн бұрын
@@garymuhlenforth7251Floridians didn’t do sh*t us to us NATIVE, BORN N RAISED here Floridians, it’s the foreigners and northerners that’s fuckin shit up and ruining our paradise
@Adriana-hx1bf4 күн бұрын
@@geocam2 Does California and New York? nope
@Elite_Employee4 күн бұрын
Lmfao you couldn’t give me a free mansion in Miami with the only strings attached were I had to pay for the insurance and property taxes on it.Still not worth it.
@meshumi13 күн бұрын
The balls that owner has for asking 1.6M for a home that was bought for 350k just 4 years ago. 🤯🤯
@joemiami14242 күн бұрын
I’ll take $1.5m write a formal offer and send it over
@ImThePronounPolice2 күн бұрын
Why not? The seller still has to buy a place to live and pay the same high rate
@AndyB7182 күн бұрын
Balls of Yellen telling us inflation is transitory.
@allanbauer40762 күн бұрын
Kudos to the owner if they find somebody stupid enough to buy it.
@neilkurzman49072 күн бұрын
@@AndyB718 you know it’s 2024 right?
@aprilgentile54383 күн бұрын
My insurance for my light industrial warehouses 1000 square-foot each doubled.
@Alchemizingg4 күн бұрын
What sucks about this next recession is the crime is going to be 100x worse. Broward was mostly working class people so in 2009 the only thing that happened was shuttered commercial spaces and empty parking lots. These luxury high rises are a breeding ground to turn into slums, the gentrifier:homeless ration is <a href="#" class="seekto" data-time="61">1:1</a>. The homeless population has skyrocketed, I was born here and have never seen anything close to this. Junkies throwing up on the side of the road. And a hurricane? Forget it. We don't have the infrastructure to handle this many people here any way you cut it. Developers and politicians have RUINED south florida.
@williamjenkins55624 күн бұрын
They have ruined central Florida too!!!!!!!!
@plektosgaming4 күн бұрын
Poor global control of assets, little production in-country any more, stagflation, ruler flat wages while the 1% parties... this is going to be a depression for sure. 10-15 "lost years" are about to happen to us because of greed and a lack of planning by our leaders.
@Carolynfoodforest3553 күн бұрын
They ruined Broward county many years ago. I grew up there . I escaped when I was 35 years old. That was in 1997.
@rubicon34163 күн бұрын
Democrats ruined South Florida, especially Broward County.
@fernandobaez99144 күн бұрын
Fl 2008 all over again in 2025 baby. Been waiting for 3 years for this crash 😮😮😮😮
@user-nj2vv2xm4j4 күн бұрын
This one might last for 10 years, everything is in a bubble.
@TCJC72964 күн бұрын
I’m praying you are correct. I’ve been holding onto cash. I Sold everything I bought in the last crash. Waiting for this crash since 2022!!
@Roman_4x54 күн бұрын
If so many people are predicting it, you will see how government will step in again before the prices will actually start going down. US is a quiet communistic system
@cindychaney85153 күн бұрын
@@TCJC7296I bought early 2011. It was a very good time to buy. I just added a standing seam aluminum roof, impact windows and doors, and renovated the kitchen. Best investment in my life.
@user-nj2vv2xm4j3 күн бұрын
@@TCJC7296Don't worry prices are coming down, you will have to wait longer that 2025 to get to a bottom though.
@peterjack23233 күн бұрын
Everyone with a second home in Florida will be forced to dump that 2nd home. Nobody is going to pay those new insurance premiums and new high HOA and/or Condo Fees to meet all the new regulations, if they don't absolutely have to do so. Only those that need their home to live in will struggle to keep up with all the new higher costs, and only if they can find a way to do so. But, if that home is an "option", just a vacation home, or something they rent or lease out, it's going on the market.
@TCxfan3 күн бұрын
<a href="#" class="seekto" data-time="225">3:45</a> Quite the contrast talking about wages not going up enough while a Lambo Urus drives by. Miami is definitely an example of economic extremes existing side by side.
@winstonsmith62042 күн бұрын
That's always been Miami though. All those folks that moved down looking for an escape act like the Lambo Life is a new thing. Miami has always been a bifurcated economy
@ElbryanDoUrden4 күн бұрын
I closed on selling our second home in Charlotte County last week. The intent was to carry it for 5 years until we retire......but with everything going up (insurance, HOA, property taxes, energy) and the threat of our equity going down, the calculus to hold didn't make sense anymore. We didn't take a loss thankfully. Wishing all prospective sellers and buyers the best of luck.
@cindychaney85153 күн бұрын
I live in Charlotte county. We were hit hard by Ian and that definitely scared a lot of folks. I’m glad you were able to not lose money on the transaction.
@flight15133 күн бұрын
Lived in Miami in 2021. Rent for a 1/1 went from 2k/mo to 3.2k/mo in one year. I left.
@naturelover22924 күн бұрын
I’m curious to know how they thought this was sustainable in a state with low wages.
@gamanshoo3 күн бұрын
Rich outsiders would never stop coming to FL and paying ANYTHING for EVERYTHING!!!
@user-wn7fr7wi2t3 күн бұрын
🤣Exactly
@AmerPridexxxКүн бұрын
Unfortunately, as a tourist based economy, its reliant on vacationers. Squeeze disposable income, and there goes the state economy. Florida agriculture used to cover part of the dependency on tourism, but when we import from other countries in larger and larger basis (Florida citrus processing plants began using concentrated juice from Mexico and Brazil) the growers lost about 40% of business - source: Citrus Industry 2020 titled: Florida Citrus Season Soured By Imports
@user-nj2vv2xm4j4 күн бұрын
That house is going back to 350k, most aren't smart enough to sell and not be greedy.
@rapsheets49932 күн бұрын
It's not. The house isn't worth more today than it was 4 years ago, the dollar is just worth less
@costcontrolaccounting46134 күн бұрын
They key is to pay off the home and self-insure, improve your homes construction and then you don't have to buy any insurance.
@kelvingavin95194 күн бұрын
Would about property taxes?
@Crunchyconservativemamma3 күн бұрын
Florida has the save our homes tax. If you’re homesteaded you can’t go up more than 3 %. (Used to live in Coral Springs )
@JT-bs8wz3 күн бұрын
That is horrid advice. Save $5k a year to have $700k in risk?
@robertpierpont22623 күн бұрын
@@JT-bs8wz its not horrible advice, just watched a guy that paid 4 million in cash for a home in miami, he paid cash to avoid a $60k year insurance bill & only citizens will cover him if he wanted insurance. Go 3-5 years without a problem & you saved $180k to $300k, takes a lot of damage from a storm or whatever to make a 60k per year bill worth it. $180k to $300k goes kind of far when you take crooked insurance out of the picture.
@CarsandCats2 күн бұрын
Great advice. Put that insurance money into something that makes at least 5% per year in case you need a roof replacement due to hail or hurricane damage. You WILL come out ahead.
@caligogetter4 күн бұрын
Great information and great channel Nick
@AFAskygoddess2 күн бұрын
I bought my house in Florida five years ago. It's a 1979 fixer upper in a fabulous location. I didn't want to buy a shoddy flip. I wanted to slowly renocate it with quality materials. My big mistake was assuming that prices for materials wouldn't skyrocket. Of course, insurance prices will increase because everything costs twice what it did before c0vid. Everything in life is a choice. I have no plans to move. Every location has its issues. I live in an area where people travel long distances just to vacation for a week or two. I wake up every morning to beautiful sunrises over the ocean and dolphins swimming by. Can't get that in Omaha or Spokane.
@jgg2044 күн бұрын
Florida is basically rocking on the edge.
@Keithlawson0013 күн бұрын
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
@debroahmorrow59193 күн бұрын
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
@ryan_dylan66503 күн бұрын
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
@patricia_nura33783 күн бұрын
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
@WEi456353 күн бұрын
How can people address concerns about their property values?❤❤❤
@patricia_nura33783 күн бұрын
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
@willmart24764 күн бұрын
Fort Lauderdale used be a great option if miami was too expensive…but they are just as bad in terms of rent and cost of living 😢
@jeffersonjohns63974 күн бұрын
Unfortunately, all the poor and less desirable people are being pushed away.
@rodseller99363 күн бұрын
I used to live there.
@SA-hz1rs3 күн бұрын
@@jeffersonjohns6397 wrong Rich people are leaving
@edmundmcgrath2133 күн бұрын
At least in Broward Cnty 50% speak English.
@305dadecounty3053 күн бұрын
@edmundmcgrath213 but none grew up in Florida and all out of towners
@dannys-beverage-world3 күн бұрын
The property where he is is the worst in Florida.. You do not want to live off of the Treasure Coast more than a mile.. It is so hot and humid.. That was the point you could live in Florida for $500 a month because of the hurricanes and terrible weather Heat
@iceman967953 күн бұрын
Outsider looking in here, California has many of the same problems as Florida with unaffordable housing, home/ car insurance more than doubling and California’s problems are blamed on Newsome who are they blaming for the same problems in Florida?
@equityjustice26953 күн бұрын
Both newsome and Desantis are the same. Corruption rules us all.
@rodtruett34454 күн бұрын
Right in the heart of downtown Orlando, on the main popular drag Orange Avenue, a remodeled office building that was appraised at 22 million sold for 9 million just a few weeks ago
@brians23284 күн бұрын
Good, hope it was private equity!!
@SA-hz1rs3 күн бұрын
Florida is dying
@erickanter3 күн бұрын
Some commercial real estate is going for pennies on the dollar.
@rubicon34163 күн бұрын
@@SA-hz1rs- Florida is dying? Lol.. compared to where?
@SA-hz1rs3 күн бұрын
@@rubicon3416 to anywhere
@DogWater20113 күн бұрын
I literally just saw on the news that here in California, state farm insurance will go up as high as 30% because they lost a lot of money due to the fires over the years. 😲 😱
@SA-hz1rs3 күн бұрын
Nope
@RAZTubin3 күн бұрын
As a Florida resident of many years, I can tell you that I've seen this ebb and flow in home prices for decades. If you look at history, it has occurred since Florida was founded. I really don’t feel sorry for the current crop of people who bought high and now are forced to sell low. Most of them were outstaters speculating on the market because their own markets (New York, LA, Chicago, etc.) are even more overpriced. As far as insurance is concerned, this is a nationwide issue. I know, I owned houses in Texas and Maryland. It is very simple, the more a house costs, the more it will cost to replace it in case of major damage to the home.
@sneakersmcfee973 күн бұрын
It's not the chickens that make that neighborhood look poor and lower class. Its the chain-linked fences.
@nanny86753093 күн бұрын
I also love how he ignored all the graffiti he walked by😣
@lauriekerze34612 күн бұрын
Wow, snob much?
@sneakersmcfee972 күн бұрын
@@lauriekerze3461 Well yeah, actually in this instance. If the houses cost a million dollars, shouldn't the neighborhood look like it?
@erickanter3 күн бұрын
People are actually dropping insurance as risky as that is.
@Sports4All-kw5vm3 күн бұрын
The remote workers came to Florida with their NY salaries to a state’s salaries are much lower creating hyperinflation which became the norm in South Florida
@SA-hz1rs3 күн бұрын
They all.left
@rampletero13Күн бұрын
I did that exact thing back in 2018. Me and wife with Boston salaries in FL. Love it
@SA-hz1rsКүн бұрын
@@rampletero13 they all went back to ca They hated fl
@samsontadesse39754 күн бұрын
Great stuff Nick!
@trentp1514 күн бұрын
Everyone knows that home prices are absurdly inflated. It's not accidental either. Blackrock and Vangard are driving this by offering 120% of asking price, and then suddenly stopping in certain areas, then prices tank back to normal levels, then they move in and buy up more.
@JT-bs8wz3 күн бұрын
Vanguard does not buy homes.
@ralphpal3 күн бұрын
So true but also airbnb people. Make it illegal
@trentp1513 күн бұрын
@@ralphpal Hm, that's interesting. You think government should tell people what they can and can't do with their property?
@Automedon23 күн бұрын
@@trentp151 There has always been a difference between residential and commercial property areas. Airbnb is a commercial enterprise that should not be allowed in a residential zoned area.
@trentp1513 күн бұрын
@@Automedon2 So you do want government to tell people what they can and can't do with their property.
@rjg71124 күн бұрын
Plus, HOA dues are also going through the roof. All part of the plan to squeeze more and more people out of home ownership.
@suburbankaren51374 күн бұрын
It really is evil.
@christaylor83374 күн бұрын
@@suburbankaren5137 It's even worse than that. The HOA's went through the roof and the insurance company won't pay to fix it.
@jeffersonjohns63974 күн бұрын
Yes, all the poor and less desirables are being forced out. It’s not fair.
@dan-qe1tb4 күн бұрын
HOA dues and condo fees aren't part of some sinister plot by the rich to screw over the working class. Inflation does exist.
@TCJC72963 күн бұрын
You are correct. “They” want us “to own nothing and be happy.” Even cars. In 20 years not many will be able to afford cars. They will just call a self driving car whenever they want to go anywhere losing all freedom in an emergency to evacuate. Very scary times ahead. Save our money and live within our means is the best advice.
@RoLE7773 күн бұрын
Thats crazy, those wynwood homes sold for like 25k in the 90s… Selling for a mill these days and still run down not even renovated looking like they were in the 70s when they were built
@ken57093 күн бұрын
Saw a condo listed for $550K. The estimated financing is $4,600 + HOA of $1,100. That's crazy no matter the view. And it's sitting empty. I can only guess at the insurance cost as it's on the water.
@adrianesteves32604 күн бұрын
Here in Miami, what I’m seeing is families moving in with other families to sustain their mortgage payments. Drive by the homes and you’ll see about 5-8 cars parked there. And groups of people hanging out on their yards. That’s on a daily basis. People in Miami dade, Broward and Palm beach counties which basically is south Florida. They claim they live in a bullet proof economy and that houses will still rise. They will be in for a rude awakening if there is a housing crash in south Florida. Boots on the ground in Miami is awesome keep up the good work!
@great4ever8454 күн бұрын
Same here in tampa some people have like 6-8 cars on their driveway
@heretic00144 күн бұрын
You're wrong. Men can get pregnant.
@jibberjabber-fm6pb3 күн бұрын
same in fort myers and nales
@MrDCMiami3 күн бұрын
I predicted the emergence of the "roommate society." Looks like I was right.
@KD-yk9wvКүн бұрын
same in the Phoenix AZ area. Several families renting one home just so they all can afford a roof over their heads. I've even seen people living in the attached garage, just turned it into a studio. But the gov says the economy is great, right?
@cherylcampbell74954 күн бұрын
I vacationed in Florida once, caught a cruise ship once and Super Bowl in the 70’s. I thought Floridas weather was horrible.
@johnsaylor1754 күн бұрын
You do an awesome job with your info,, thanks..
@MyLoganTreks4 күн бұрын
Fantastic reporting on the topic he is exactly on point. I know someone listing 1.6M and was offered with a 1.3M offer and took it off the market because they were insulted lol
@CarsandCats2 күн бұрын
One more thing: If you're going to live in Florida, DO NOT LIVE ON THE COAST! Not only is it incredibly expensive, but your hurricane risk means you could lose everything. Stay inland where it is much hotter AND safer. The chance of Orlando getting hit by a Cat 5 hurricane is near ZERO. A Cat 5 on the coast will be a Cat 3 by the time it moves inland and even a direct hit will be around 115mph Max winds. Your home will survive! You might need new shingles, but that's it. Location is critical in a hurricane state. I've been here over 30 years and know what I am talking about.
@lisabracken2733 күн бұрын
I know people who own their homes outright in Florida either drop homeowners insurance altogether or just carrying liability
@andredaedone54 күн бұрын
I got the heck out of Dodge / Florida in 2021. Sold and moved to South Carolina.
@naturelover22924 күн бұрын
Smart move
@luvmycountry7773 күн бұрын
If you don't mind me asking what area in SC?
@dawnturitto8442Күн бұрын
I lived near Charlotte NC/SC border. I hated it there.
@infoguy1978Күн бұрын
@@dawnturitto8442 why did you hate the Charlotte area? what state are you originally from?
@dawnturitto8442Күн бұрын
@@infoguy1978 I'm originally from Long Island. Lived in AZ for 18 years. Moved back to NY, then NC. Charlotte is just a mish mosh of everyone moving in the area. CMS is not a viable place to teach, although they pay decently. I just did not care for the culture. Didn't feel safe there either.
@green-user83484 күн бұрын
The hurricanes are going to be intense this year.
@equityjustice26953 күн бұрын
What makes you think 🤔 so?
@rubicon34163 күн бұрын
We hear that every year.
@jerrymathew661919 сағат бұрын
@@rubicon3416keeps getting worse every year too
@lovingsummertime59653 күн бұрын
Buying a house in Miami is like buying in Cuba😂😂😂 Cuban Realty 😂😂😂🐓🐓🐓🐔
@brianmatthews41493 күн бұрын
Little Havana.
@NatasChild6664 күн бұрын
Chickens... Florida Keys: "Hold my beer"
@George-ri6vg4 күн бұрын
Greetings from Jacksonville. I agree with your advice I follow you! great work.
@kiyoshitakeda4524 күн бұрын
It is not a human right to have low cost homeowner's insurance. The market determines the rates. Can't afford it sell and move. Have no sympathy for owners who took on more than they can handle and are now unhappy. You made the choice so you must live with it.
@kelvingavin95194 күн бұрын
Must include the guy who paid off his house after 30 yrs and the retirement money not enough
@equityjustice26953 күн бұрын
The system is a facking scam. Insurance is a scam also
@Jackg19493 күн бұрын
Hey Nick, always enjoy your videos, you have been spot on, thanks
@TheHiredGun187Күн бұрын
I was forced to leave an a nice apartment in Miami( Little Havana) because I could not afford the renter insurance required by the landlord...this was in 1998. It's hella worse today
@This2ndHalf4 күн бұрын
Makes sense people would be moving back to their original states. So many people moved during the pandemic when there was absolutely no guarantee from their employers that they’d be allowed to work from home forever
@nanny86753093 күн бұрын
I think this was a plan within the government to jack up home prices. Start a pandemic, make people believe that they will work from home forever and that they can live wherever they want, wait and when that changes causing prices to plummet so corporations can come in and buy a whole bunch more
@autecheee3 күн бұрын
Cheers Nick, I like that you had an on the street interview with a tenant and hopefully you will do this more in the future with homeowners, potential buyers, sellers.
@joserivera73493 күн бұрын
Thanks for the great Miami report. You are the first to do it in a long time.
@mikeking75824 күн бұрын
THE AIR B & B CRASH IS HAPPENING ALSO
@TCJC72963 күн бұрын
Yes!! The proof is in the pudding. I sold a house in Fort Lauderdale for 1.8M in 2021 that I paid 300 for (plus 250 reno) in 2012. It was the last foreclosure I bought. I scraped together the money. The buyer in 2021 was from NYC and turned it into an airbnb. It went bust in 2.5 years as every other house became one. It’s about to close to a new buyer for 1.2M next week. How do I know? I did seller financing for both deals and no the new sale isn’t a short sale.
@mike-uw6wt2 күн бұрын
@@TCJC7296 sounds like you’re “pretending” to sell it and are just a bank.
@bblegacy15 сағат бұрын
Good. The owners of those unlicensed hotels are also looking for the quick buck. Let them all go under as well and lose their investments in foreclosure or tax delinquency.
@green-user83484 күн бұрын
What??! Those prices are crazy!
@MyLoganTreks4 күн бұрын
What goes up must come down, subscribed to his channel because he definitely called it. Banker for 20 yrs I agree with everything he is saying. When incomes don't keep up with prices something breaks.
@Dohair8793 күн бұрын
Miami is not for the middle class or lower. It hasn’t been for a very long time. It’s now just getting worse.
@TheBluntTruthsFamily4 күн бұрын
Dude that camera is amazing
@dilatedtime4 күн бұрын
Dude, I know you’re not from here and don’t know but welcome to Miami. The chickens are part of the scene and the culture here. One of the things I love about this area actually. A little taste (pun intended) of Latin America here in the continental US. Got nothing to do with the cost of a house. Go to some of the most expensive neighborhoods like Coconut Grove and you’ll see chickens. The chickens are residents as much as the people that live here.
@TCJC72963 күн бұрын
Yes and gorgeous peacocks roam neighborhoods.
@mitchelldumpson76032 күн бұрын
We have roaming turkeys where I live, part of the community, pleasantly surprised to see them when I first got here
@Jimfundercover22 күн бұрын
Why would you build an apartment building with an apartment cost of $3K when the medium household income is $70K? Who were they catering to?
@docgoldwaser3 күн бұрын
It warms my heart to see New Yorkers leaving…
@ambivertical4 күн бұрын
I like that you walk the neighbiorhoods you talk about. Respect!!
@marcozone58664 күн бұрын
Yo the chicken is worth $250k alone. Matter of fact it’s probably part owner of some building. I’m not even kidding.
@funguy4utube2 күн бұрын
Not even to mention on street parking, noisy traffic, cheap fences, bad to no landscaping ….. and airplanes overhead. The area is not worth that kind of money.
@eve12972 күн бұрын
Miami rentals you quoted were “base” price. Then there’s recycle, pets, parking, rental insurance…. All those tack-ons and the rental price skyrocketed.
@user-jm8yu9zl7n3 күн бұрын
Those chickens think they are in Key West 😂😂
@jojopapa75214 күн бұрын
Nowadays property tax, Insurance plus HOA are like Rent if it is bought cash or is paid off!!!
@solarryan97624 күн бұрын
We are leaving and taking our business out of Florida ASAP
@thefpvlife77853 күн бұрын
I already did in 2022. Desantis scared us.
@solarryan97622 күн бұрын
@@thefpvlife7785he used concealed carry as bait for reelection. Meanwhile, half the nation already had it. He’s not going to fix the insurance.
@jimmyobando93822 сағат бұрын
I live in Miami and a Construction Contractor and you are absolutely RIGHT
@ricnyc27593 күн бұрын
Horrible weather. I have no idea why people think that living in a sauna is a good thing.
@TCJC72963 күн бұрын
Sun and sauna heat are good for testosterone, vitamin d and the list goes on. Way healthier to live here than the northeast. I just feel better. I also a stay trimmer with year round outdoor activities. I hated leaving the gym up north in 10 degree weather.
@randymanchester69933 күн бұрын
Nov to April - amazing. I'm from the snow. I'd rather deal with the heat. It's healthier.
@akosiryan97612 күн бұрын
What’s better? Living in shithole northeast and going to Dunkin Donuts 5x’s a day?
@CarsandCats2 күн бұрын
6 months of nice weather, 6 months of hell. Really need another home on the other coast for this to work.
@soccersprintКүн бұрын
because its a good thing to live in Florida, and Florida is not the same as a sauna.
@georgedoolittle75744 күн бұрын
*"I see canceled policies everywhere OHHHH NOOOOOO!"*
@sold96033 күн бұрын
Amazing video super duper proud of you making this video great job!!! 👏👏👏👏👏
@wl60204 күн бұрын
If insurance rates go up, landlords are forced to raise the rent to pass on the costs. Even renters will be priced out and have to move out of state along with the homeowners who sell.
@pwu81944 күн бұрын
You are absolutely right. Florida's economy is mainly based on tourism, and rich retirees. New York has the financial market that's nothing but money. Los Angeles has the Hollywood and movie stars. Median household income in Miami is $54K, NYC is $74K, Los Angeles' is $82K. Ideally, homes should cost 4x their annual income. That would be $216K for Miami, but you are seeing 3x that.
@drewmorg.4 күн бұрын
I live in Orange County so have a good glimpse of LA and spend a little time up there for work. The people living in LA are generally paycheck to paycheck with a 6 figure (inflated wage) job and no family, kids, or marriage. Many are transplants from other areas and get help from mommy and daddy well into their 30's. Almost no one living there is truly "making it" for themselves. If you go tour anywhere fun in LA like Hollywood or Santa Monica, you will see the streets filled with people and no one actually working. I think the only place to build yourself up at this point is to work a remote job with modest income and take it to the midwest.
@SA-hz1rs3 күн бұрын
@@drewmorg. still doing better than fl No jobs in fl
@robertpierpont22623 күн бұрын
@@drewmorg. I know a family that moved from north of orlando / south of gainesville, very right leaning politically & they moved to Carlsbad ca during the early part of the pandemic. They love it there, they don't like the politics of course but they love the weather & the mountains/hills & the lack of humidity. They don't complain about much of anything there.
@drewmorg.3 күн бұрын
@@robertpierpont2262 Carlsbad is super nice.
@rubicon34163 күн бұрын
Miami does have wealthy foreigners owning some of that real estate.
@sidthekid794 күн бұрын
Im in South East Palm Beach County and havent had homeowners insurance for 10 years. Doesnt make sense.
@taterkaze94284 күн бұрын
Plan for life after your home is destroyed, it's only a matter of time.
@budalanemac31154 күн бұрын
@@taterkaze9428if he saved and invested all that money for the last 10 yrs. He can buy 3 of those. If not, he is efed.
@wwjccsd4 күн бұрын
@@taterkaze9428when rates are 10-20k a year, it’s not worth it. Historically rates were fine but the last 2-3 years have pushed them into unsustainable, and this is because so many people abused and defrauded insurance for new roofing and other damages for storms that didn’t do damage that they claimed.
@sidthekid793 күн бұрын
@@taterkaze9428 nah, been here 45 years... Im good....dont live where it floods either. all the new folks who just moved here should leave though.
@randymanchester69933 күн бұрын
Funky Biscuit!
@Acc0rd793 күн бұрын
We are in Kissimmee, have a 3,600sq ft home. When we bought it in 2012 it was 2,200 per year. Last year after being dropped we were slapped with Slide insurance and they said it was going up to 13,500 per year!! I shit you not. We said HELL no and picked up citizens and we dropped to 3,300 per year, down from 9,700 the previous year!! Now they tried to dump us this year but couldn't as all other quotes were over 20% more but now insist we buy flood insurance even though we aren't on a flood plain. I told my wife if this home had got to 15k we were dumping it and leaving. I want to move to the midwest Kentucky/Indiana area but she wants to stay in FL for the family. I told her there will be a point where we throw more money away each month than we can afford. If we move we can actually keep all of the money in our pocket. My car insurance for 4 cars is now 878 per month!!! Last year it was 577 and the year before that was 480s. Honestly I'm so ready to leave, I'd rather keep more money in my pocket for vacations than to just stay in Florida, I'm over the traffic and the influx anyways.
@robertpierpont22623 күн бұрын
I bought a mobile home on an acre in southern indiana in 2016, pretty private, 120 acres of forrest right out the back door, old limestone quarries across the street, quiet 1/3 mile dead end road with 4 homes/properties on it yet close to a gas station & dollar general, overall great location.. for get this I paid $10k, $115 year property taxes with no exemptions.. I can live on $600 per month there including food & with a $190 xfinity cable/internet bill, no sewer bill, $25 month water bill, $80 to $120 electric bill & a $35 cell phone bill. I work from home so not much of a gas cost for vehicle, maybe $10 a week in gas. talk about being able to save a lot of money!!! I didn't buy the place to live in when I bought it but it was 5 mins away from Indiana's biggest lake & it was so cheap but in 2020 I saw what was coming & moved there full time, best decision ever too! Now I look for ways to live even cheaper, or the same cost but on a beach in Thailand or Sri Lanka, just watched a video of a guy from australia who has his monthly cost down to $400 living in a closed down restaurant/hotel right on the beach not 20ft from the water in Sri Lanka & it has a restaurant grade kitchen with a good size dining room that he uses as a living room & a bedroom with bath/shower & he pays $150 month rent for it & he buys fresh yellow fin tuna for $3.12 a kilo, $6 per kilo for fresh prawns & so on. $400 a month total living costs & super duper cheap medical care, cheaper than just the co pay with insurance in Australia. Cell phone service is $6 month, $6 month water bill, $40-$50 month electric bill & so on & so on
@equityjustice26953 күн бұрын
A new wife would be even cheaper. I'm serious 😒.
@brianmatthews41493 күн бұрын
If you can pay it off asap and go without. Lots of folks doing this now.
@rubicon34163 күн бұрын
@@robertpierpont2262 - only a rare few would or could live a life that in the third world. Not for everyone.
@Automedon23 күн бұрын
So proud of your 3,600 sq ft. It's greed and not admirable.
@BadFry4 күн бұрын
The wages to the cost of living in Florida is crazy skewed. We need a MAJOR correction
@thefpvlife77853 күн бұрын
Yes vote desantis out
@niavellir74083 күн бұрын
@@thefpvlife7785Agreed, but we need someone who actually cares to run against him, we don’t have that right now