You’ve Been WARNED! Moving To Florida is TOO EXPENSIVE!

So many people decided to relocate to Florida during the pandemic seeking freedom, a warmer climate, no state income tax and a high quality of life at a lower cost of living. But that low cost of living part is now a thing of the past. Florida has so many new expenses that have ballooned over the past few years making moving there practically unaffordable for many people.
Need a Realtor? homeandmoney.com/michael/
======
Like My Sunglasses? Get a Pair s.click.aliexpress.com/e/_DlJ...
======
I offer 1 on 1 calls, book one if you'd like!
michaelbordenaro.com/book-ser...
======
My Filming and Editing Equipment
michaelbordenaro.com/my-youtu...
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
bit.ly/MBreminders
======
Get Cash Back on ALL your Internet Purchases!
www.rakuten.com/r/NIRVPL2?eei...
Articles Mentioned in the Video
www.businessinsider.com/perso...
www.floridarealtors.org/news-...
therealdeal.com/miami/2023/08...
therealdeal.com/magazine/nati...
FTC Legal Disclaimer - Some links found in the description box of my videos may be affiliate links, meaning I will make commission on purchases you make through my link. This is at no extra cost to you to use my links/codes, it's just one more way to support the channel! :)

[@MichaelBordenaro]

The Economy IS NOT WORKING But Experts Say "IT'S GREAT" kzbin.info/www/bejne/nnmtqnl4jtWFaZo

[@sandyrose2398]

The Experts only worry about themselves - they love when people are suffering.

[@hanwin651]

Hey, this is really beautiful beach . I was watching the background when you are walking ! Great video and content !

[@Lisithedogwalker]

@@hanwin651It is really beautiful!😍🌊🩷

[@jimshoe402]

Works great for Me T-Bills UP and Taxes and home ins $500 per month. $300K ORD...Keep Walking 😁😁

[@donnawoodford6641]

Define "experts".😒

[@michelleg1076]

The unaffordability in florida is ridiculous. It does not match the incomes here.

[@MM-ig2zq]

It matches the income of Yankees and Fornifonia people. Locals? Screw with a big S.

[@BDUBB24]

Florida market is one more major hurricane away from complete collapse.

[@Investormillard]

It’s worse in hot areas of TX…

[@randymillhouse791]

@@Investormillard Not true. I have lived in Both FL. and currently TX. TX. is still VERY affordable and the salaries are higher.

[@Jaelynne17]

Very true. Looking to Leave Tampa. Been here 18 years… I can no long afford it.

[@suem3854]

I'm in Wisconsin and was visiting my cousin in Florida recently. We went grocery shopping and I couldn't believe how high the food cost is there too !

[@Pinkfrosting962]

Were you at Publix? Cuz not everywhere is that much higher. I moved from the Midwest to FL last year

[@suem3854]

@@Pinkfrosting962 yes, Publix it was crazy.

[@MichaelBordenaro]

Absolutely I would say the food cost just as much as California if not even more

[@suem3854]

@@MichaelBordenaro I would be shopping at WAWA 😁

[@willystalla]

Here in California: Ralphs, State Bros, and Vons are significantly cheaper than any grocery store I have seen in South Florida. And salaries are way lower in Florida. Don't know how people can live there.

[@Elysian40772]

I moved here 5 years ago, Orlando suburbs..It was great until 2020 and everyone and their brother moved here. I'm moving out of state next spring. Too hot, too much traffic, too expensive and people here have been incredibly rude. People were nicer in CT than FL. It's rare to get a corporate job here, so the remaining jobs are $15 an hour, but a 1 bed apartment is $1600 without utilities and most are in run down unsafe neighborhoods near Orlando. They are charging New England prices without the matching paycheck.

[@naturelover2292]

I met a lady from CT that was working in Walmart, she moved here thinking she could get a good paying job with her CNA license, she had a problem getting her license transferred she ended up at walmart, she says she couldn’t believe what jobs paid here compared to CT, she said as soon as she saved enough money she was moving back to CT and would visit FL for vacation only.

[@charleshart5563]

It's totally disgusting what they are charging for rentals 1800 a month for a one bedroom and 15 dollars an hour. The math doesn't math so many people I know are living with 3 people in a one bedroom apartment just to survive.

[@georgeguegold4927]

Found that out 30 years ago for sure worse now.

[@MarcusAurelius33036]

Interesting take. I think it depends where in CT you are. I was in Stamford for 30 years before I cashed out in 2021 to take advantage of the pandemic panic price surge before it evaporated. After selling, I moved to my small Keys bungalow because I couldn’t find a rationally priced house anywhere I wanted to live in CT. Finally bought a place in New Milford where I found a place to buy. My experience has been that the mixed demographic people up in New Miford area are MUCH MUCH nicer than the NYC white collar Covid lockdown refugee types from NYC that had then recently overwhelmed Stamford. Just my $5.36 cents adjusted for inflation from 2 cents.

[@DIVISIONINCISION]

Imagine clearing over $200K/year and still only being able to afford a condo in Boynton Beach. There's no way I'd move to Florida or California.

[@MichaelBordenaro]

Don’t have to imagine that is the reality now

[@DIVISIONINCISION]

@@MichaelBordenaro I'm referring to my buddy who is in that situation. Yes, sad reality.

[@ssoffshore5111]

And Boynton Beach is the low rent spot in that area!

[@MAfanwoods37]

​@ssoffshore5111 really. I love boynton.

[@gilzuniga6692]

300k here, Can’t afford a 2/2 condo in Miami.

[@KhmerMinnesnowta]

We glad we changed our mind not to move to FL after our retirement. We've been living in SE Asia for now and we're happy about it!

[@randymillhouse791]

Good for you! I am lighting out to South America at retirement. The USA is unlivable both financially and culturally now.

[@aquaviii]

What country

[@KhmerMinnesnowta]

@@aquaviii We are living between Vietnam and Cambodia!

[@SoulfulVeg]

I went backpacking through SE Asia and India in my late 40s. It was awesome! I lived in W Africa for a while. The only downside was being so far away from my loved one. Enjoy.

[@miguelgonzalez6213]

FL basically experienced what happened to CA in the late 80s and 90s. Everyone moved in because the cost of living was decent and homes weren't that expensive, but everything shot up, including the taxes here in CA.

[@tb1235]

The moment Florida votes in a Democrat Governor (which will happen eventually) taxes will see the same type of spikes that currently plague California.

[@jeannettasmith2825]

I lived in Florida for several years. The expenses of homeownership, taxes, and insurance are just one of many reasons to avoid moving there.

[@mrsentinel4911]

Taxes on what? Unless you're filing a return on your home, there's no way the county assessor can asses it for taxes.

[@dariodjakovic1600]

When you moving out?

[@rogertoth8663]

Property taxes and homeowners insurance, if you can get it, have priced the normal working people out.

[@paulj2948]

I'm still coming. NJ income tax and property tax is 30k a year. I'm done. I'll get a new house in Florida for half price of my townhouse here. I'll be paying cash.

[@762foryou]

You didn't even mention the snakes, Alligators, bugs, humidity, crime or the Brain-Eating Ameoba

[@tomgentry6409]

The problem with increasing costs in Florida is happening nation wide if you can’t afford to live in Florida move, I hear people who moved to Florida from the northeast and say everything is cheaper in Florida than up north, the problem with Florida is to many people have moved here

[@AmandathePandaBooks]

There are several other states, small towns, etc, 1000$ or less property tax, prices for a decent house 100000$ or less. Stay away from the cities.

[@UndertheNeedle282]

Right. Because everyone has the money and resources to move their family to a cheaper state while keeping the same income. Easy fix. Just move, people. 😂😂😂

[@marias2746]

Yes depending on where up north they moved from

[@eattherich9215]

The northern states are mostly a lot more expensive than down south.

[@marci1878]

No the problem with Florida is poor government policies.

[@BeckyJusto]

Thank you for talking again on all these issues in Florida Michael. I'm only a renter in Miami, Bay harbor Islands, for the past 13 years and now needing to find another place quickly because from one day to the next they hiked my rent up by a lot. There is no win whether you're an owner or a tenant here! This whole stuation especially in Miami sucks any way you cut it!

[@littleredhen3354]

Not just Miami! I'm in Tampa area and nobody who actually WORKS here can afford to live here. Homeless galore!!!!

[@n4870s]

So who is living there? Rich people who don’t work?

[@littleredhen3354]

@n4870s Yes and tons of short term rentals like air b&b and remote workers who work for out of state/country corporations.

[@JBoy340a]

Thanks for doing these walks along the South Coast. I have not visited that area in decades and forgot how beautiful it is. I was a little surprised to see so many people at the beach. But is great to see people out and about enjoy fantastic weather. I hope you 2 are enjoying your stay in SoCal.

[@kimmarie3699]

I live in the burbs of Washington DC. Average 4 bedroom house $1 million. Can’t be worse than that.

[@WestFloridaAccountability]

I’m a born and raised native and even with a decent job, I’m almost to the point where I can’t afford to live here alone. Even with a condo that’s almost paid off, my insurance and maintenance fees are completely out of control. I could absolutely see people paying off their condos after decades and then being forced out simply because they can’t afford the constant increases.

[@tinamakaneole]

I live in Lehigh Acres Fl, 3 homes on my street are going bare, no homeowners. These homes were built in 2001, 2007. Rates in Lee Cty. are now $6000 and up. And the coverage amounts were cut in half. Nightmare situation.

[@keithtauber4153]

What do you mean are going bare? I live in Lehigh also.

[@tinamakaneole]

@@keithtauber4153 self insuring.

[@ssoffshore5111]

@@keithtauber4153 Going w/o insurance.

[@Bradimoose]

@@keithtauber4153 they mean not having insurance, people without mortages can take that gamble.

[@pmstff700]

What those insurance companies won’t tell you is the amount they raked in all the years there were no claims.

[@nathanmaxwell2188]

Way too many people moving to FL from all over the world. Twenty years Florida was one of the most affordable places to live. The state can't keep up with the influx of people per year. Roads are jammed with traffic, housing is overpriced, rent is unaffordable, and the southern border is wide open. Tons of illegals

[@leok7193]

Southern border... of a peninsula? Yeah, I guess you could wall off the beaches 🤦‍♂🤦‍♂

[@nathanmaxwell2188]

@@leok7193 Apparently you haven't been paying attention to our southern border wide open and the government sending illegals all over the USA. Every state is a border state at this point. Florida has tons of illegals. Look it up. While you're at it, also look up how the United Nations have been giving illegals debit cards and cell phones once they reach the USA. They're EVERYWHERE. That's just "conspiracy theory" though lol

[@funincdm3105]

Welcome! Glad you stopped by the neighborhood! CdM is a great little town within Newport Beach. Enjoy your stay, & safe travels.

[@Msteve-nt5bx]

Insurance companies love collecting your money but hate paying it out when you need them. They're quick to bail on you.

[@INTERNETVID]

Not always, ironically enough. Actually, and depending on the type of claim, they LOVE paying it out as it facilitates the near certain premium increase coming your way in the next billing cycle.

[@Msteve-nt5bx]

@INTERNETVID that is a good point too!

[@njprepper8601]

State Farm bailed on me.

[@Resmith18SR]

How many of those high rise condos in Florida are in similar condition to the one that collapsed killing all those people? Florida is infamous for using shoddy cheap materials in their construction so the builder and developer can pocket even more.

[@MichaelBordenaro]

Who knows…

[@MM-ig2zq]

All of them. Concrete is no match for salt air and water.

[@tonyburzio4107]

What you said is incorrect. The condo collapse was clearly a design error and adding far too much tree weight to the pool deck. The materials were fine, and if the error was repaired and the weight not added, she'd be standing still.

[@Resmith18SR]

@@tonyburzio4107 Tony, If you want to say it was completely a design error then I would disagree with you. That building along with others that age are deteriorating and not being maintained by the Board of Directors up to current standards.

[@harryholiday5356]

I really enjoy your presentation and information you share with us. Takes considerable research that I don't do. I want to thank you for your efforts.

[@frankrusso2093]

I'm starting to see those U-hauls with the personal car in tow heading north on I95. Those are the people leaving Fla. for good. I still see about 3 to 1 ratio of those coming south vs north. I mostly see them on Sundays. Last several years it was only southbound. Yup, Florida is to expensive.

[@magicparkmemories]

I see u haul trucks in my neighborhood every week since April

[@frankrusso2093]

@@jbanana3896 It's not all oranges and cream here. I'm planning my exit strategy too.

[@frankrusso2093]

@@jbanana3896 Better beaches for sure. Florida is ok if you are very wealthy and can afford old Florida or direct waterfront. Otherwise it's a rat race inside a microwave.

[@WarbirdPylonRacer]

Hi Michael! Don't know if you will read this or not but I just wanted to thank you for your videos especially this one! I subscribed to your channel because I was planning on moving and retiring to Florida but because of your hard work and honesty I didn't realize how good I had it here in SoCal, actually not very far from where you are right now. I'll just figure out another way to deal with taxes and whatnot but we really have the nicest weather here and many other perks. Thanks for all you do Michael. Your channel is the most informative I've seen!

[@stevekrupp6974]

Totally agree with the feeling it’s crowded in South Florida. Sold my Boca Raton home and living in Northern Florida where at least the heat breaks at night ! Trees still line the sides of I95 up here

[@commonsense6967]

I ❤ North FL!

[@jbar_85]

I know! But more people are moving to there too. I am speaking about Jacksonville area.

[@rena5385]

Its just a matter of time until Northern Fla gets as crowded as Southern Fla. You can already tell all the construction going on in St Johns County. It wasnt like jst 3 yrs ago.

[@stevekrupp6974]

@@rena5385 we settled in Palm Coast and St. Augustine. Two beautiful places to enjoy life. It is exploding up here also.

[@Janevelyn]

Yes and Tampa is now as crowded as SoFlo was five years ago I know from personal experience. Jacksonville and even palm coast are next.

[@Juliet875]

Happy Friday Lizzy and Michael, Thank You! Hope you two are enjoying California. We did a drive down Pacific Coast Hwy. while visiting California before COVID & all the crazy, just beautiful!

[@MichaelBordenaro]

We did that drive before as well all the way up to San Francisco and it is a marvelous drive

[@realestatebykemi]

Same thing happened to Atlanta, minus the insurance issues. Our main issue is Blackrock & other iBuyers have killed affordable housing here. Plus high migration from other states.

[@MR..181]

Food flippers...vanguard and blackrock..frontrunning. 50cent = 3$..?

[@MR..181]

Food flippers...vanguard and blackrock..frontrunning. 50cent = 3$..?

[@MR..181]

Food flippers...vanguard and blackrock..frontrunning. 50cent = 3$..? Insurers buying housings?

[@jameskelly9243]

Your main issue in Atlanta should be very bad democratic govt, slums, assults, traffic.

[@acegolfman3203]

8 years ago FL seemed warm and cheap. Still warm, NOT cheap anymore, not now

[@branfashionistad7579]

As someone born and raised in Florida…it’s getting ridiculous. I love Florida but it’s not the same and honestly the charm of Florida is gone

[@AlexM-vh2pu]

Same here. Born and raised in Florida(Miami) . Paradise lost. Its not the same Florida.

[@Patrick-yh5yd]

As long as you got the beach it's good

[@JimmyCuba7070]

Been here since 68..my Florida I once loved is gone

[@keithcolegrove2924]

Always Great Videos Michael. Hope you're having a blast in California.

[@katharden5806]

I've lived in FL 14 years. Insurance cost has gone up but when you combine our low property tax with no state income tax it is still cheaper than homes that cost less in KS and NE bc their taxes are ridiculous. My taxes and insurance combined is under $6K but if I were to purchase where my family members live in KS & NE it is upwards of $10K for same or less priced home. Plus we have the save our homes tax cap for homesteads. I'll keep my cheap taxes and $0 state income taxes along w beautiful beaches and year round out door weather! Love it here! (Just paid my annual homeowners insurance so I'm aware of increases... mine went from $2400 to $3100 but my taxes are only $2700. I've owned the home 10 years and taxes have only increased by $200 total since 2013)

[@marknewton6984]

Good points.

[@brianreilly6523]

Hi Michael - Glad you are here in So Cal for a visit. Corona Del Mar is a wonderful area but the prices are not representative. Try someplace like Huntington Beach or Irvine. Still plenty expensive but way less than CDM! Enjoy your visit and we are glad you are here!

[@donjuan914]

Everywhere is expensive on the coast in CA though but I’d totally live in Irvine if I could afford it. Best suburb in the US in my opinion and it’s close enough to the beach.

[@gregmotyka4]

This is my real estate education channel. Thanks, Michael!

[@chp6489]

Hey Michael! Great to see you & Lizzy enjoying sunny California! I live in Ventura County & I just got my new car insurance & my home owners insurance premiums for this year. Wow! I got hit with the higher insurance premiums. My car insurance went up 100 a month ( 1200 a year higher)it was already high. The home owners insurance went up 400 a month! They know they got ya because no other insurance company will write you a policy. Thanks for another informative & reality check video! Man it hurts!😢❤

[@shirleyruth55]

How about your monthly electric bill? I was paying $300-375 monthly in Laguna Beach before I left in 2022!

[@MichaelBordenaro]

We’re having an excellent time here! You’re totally right they got everybody up against the wall because go ahead and try to find a cheaper deal with insurance. Chances are it’s not out there.

[@Jeannified]

I just love it that sweet Lisi just walks along looking at the beautiful surroundings and takes pictures. She seems to be very relaxed and content. I love it that she waves snd blows us all a kiss goodbye too! She is so sweet! On another note…I drove through Coronado yesterday, on my way home from work. Right across from the very popular and famous Hotel del Coronado, they were tearing down a small motel that had been there forever, and was well maintained, called the Villa Capri. So sad, as I know they are going to put something very expensive there in place of the beautiful older little motel that has been there. Love this area you guys walked today!

[@ssoffshore5111]

I've stayed at both, sad to hear they are tearing it down.

[@Pengasmon]

Here in Louisiana my homeowners insurance has gone from $2300 to $5900 in 2 years. I’m on the side of my city that’s away from the coast so the people farther out are having it worse. It’s almost to the point where you might as well be buying a new roof yourself every 2 or 3 years. Houses cost relatively less but we are all paying a premium for insurance in a state that doesn’t have much to offer compared to Florida and others.

[@bigtom1948]

And you are lucky to get a policy at all, sad situation.

[@DIVISIONINCISION]

Louisiana real estate has depreciated since 2020. People are not moving there. They are leaving!

[@MichaelBordenaro]

I just can’t help but wonder how many people can hold on with these expenses rising like this and for how long

[@brianmatthews4149]

How can a insurance company tell you to replace a roof that has a 30 year warranty.

[@meropee9994]

​@@brianmatthews4149cuz they drop you if you dont

[@bryanbunday781]

With my H.O. insurance still under 1k per year, staying in Michigan looks better every day!

[@noreenn6976]

Good idea!

[@MichaelBordenaro]

I’ll bet!!

[@JNoMooreNumbers]

But the politics are awful. Governor and her minions are whacko.

[@pensacola321]

​@@JNoMooreNumbersBetter than DeDichead

[@JNoMooreNumbers]

@@pensacola321 Which one? Plenty of them in politics.😆

[@3777177]

Awesome seeing and hearing your wife on trip with you....makes channel more personal to us....

[@danielj3010]

Beautiful landscape

[@MichaelBordenaro]

Gorgeous

[@edge918]

Michael & Lisi 🙂🧡💛💗 Beautiful scenery and sunshine where you two are! As I've mentioned before, I have friends who have lived their entire lives in Florida but now because of Ian's devastation and the insanity with homeowners insurance, they are moving away from the United States altogether.

[@randymillhouse791]

Absolutely! Retiring in Colombia 2027!!!!

[@SirCarlosMusicBMI]

Looks like you’re having a great time in California 😊. Enjoy your stay. And of course thank you for another great video. Blessings, Carlos ✝️🙏❤️😊🇺🇸

[@MichaelBordenaro]

We are Carlos. It’s been super fun. Thank you very much!

[@PistolPete1984]

Always great content I hope your both having a great vacation love the channel

[@tommorningstar6373]

Excellent video sir. Really captured the coastal OC vibe. Life is a beach.

[@ajusa2024]

Florida has been absolutely and utterly destroyed in every way imaginable. Yea people are flocking here, but Floridians are leaving by the truck load.

[@hideoussails1783]

And the wildlife are suffering the most

[@ajusa2024]

@@hideoussails1783 the water is suffering the most, and in turn the entire ecological health of the land/state. The most polluted waters in the country.

[@hideoussails1783]

@@ajusa2024 yes it's very horrifying. And knowing that the developers just bulldoze over the animals

[@leok7193]

Is that all of Florida or just the densely populated cities? I was considering Daytona beach or Melbourne

[@Mmoselle1983]

All the Californians and tristate area folks, are eventually going to be left with a desolate Florida, and most of that investment revenue, down the toilet. Especially when the crash hits. And it’s coming. Florida is among those states the gets WRECKED during recessions/depressions. 😂😂😂 Moved a year ago to South Carolina. I see it coming and it’s tragic what they’ve allowed to happen to Florida It’ll be the next Los Angeles in no time.

[@gabrielw7773]

Same thing happening here in Phoenix, AZ. Traffic has increased so much over the last 3 years.

[@DIVISIONINCISION]

You must be new to Phoenix. I left Phoenix in 2011 after having moved there in 1988. Phoenix is basically uninhabitable now. California prices and congestion without the good weather.

[@MR..181]

No traffic..thinking covid vax dead?

[@MR..181]

@@DIVISIONINCISION worse as gasoline 5$ gal..

[@MR..181]

@@DIVISIONINCISION worse as gasoline 5$ gal.. urregulated solar powered electric bicycles??

[@MR..181]

@@DIVISIONINCISION worse as gasoline 5$ gal.. urregulated solar powered electric bicycles??

[@tombecky3544]

Good job keep it up thanks you are good at what you do tom

[@maxangeles6279]

beautiful california scenery!! nice video!!

[@sillygirl4651]

All the beach areas in so-cal have always been expensive I was blessed to grow up on the beaches starting from Ventura, and all the way to La Jolla and all the beaches in between

[@Ponskippa]

A similar thing is happening to car insurance. My auto policy literally doubled during / after lockdowns.

[@SoulfulVeg]

Same. Florida has the highest auto insurance rates in the country.

[@hulk-smash-deez-hose.7951]

Love your channel bro ✊🏾

[@emzywillrich7243]

Michael, this was definitely one of your most beautiful videos. It is absolutely gorgeous!!

[@jbrous3602]

That girl that keeps following you around looks like a keeper...I got one 52yrs ago.

[@Lisithedogwalker]

So happy for you guys!❤️

[@costak7679]

Come on Michael! Almost at 100K! Let's go. March to a million.

[@MichaelBordenaro]

Almost there!!

[@imeldareerman6280]

Wow beautiful California and your wife too Thanks for Sharing .

[@azwife1715]

Thanks for the videos 😊

[@MichaelBordenaro]

You’re welcome!

[@KristopherStidd]

Lol thank you for the video Michael.

[@MichaelBordenaro]

You’re welcome!

[@brandonbarber9266]

I was living in Southern California for 2 years and came to Miami Beach. I been here for almost 6 months now I can’t wait to go back to SoCal I just gave my landlord notice I’m moving out next month . The humidity here alone is enough of a reason for my departure lol

[@MichaelBordenaro]

Haha I hear you! Although you probably had the worst impression of Miami Beach ever since this is literally the hottest month ever there. but the crazy humidity is a normal part of summer in Miami.

[@brandonbarber9266]

@@MichaelBordenaro I bet when you return to Miami your gonna be California dreaming everyday . I know I have

[@AJSHOPE]

At least in Miami you do have the beach. I'm in St. Louis and it gets just as hot and humid as about any place in the country (we've had quite a few 120 degree heat indexes this year).

[@proudgrandma138]

Mike, its not just wildfire areas of SoCal, its in the deserts too & theres no wildfire or Hurricanes or flooding issues.

[@thomashicks1687]

You’re seriously the Goat!!😎🙏🏾🔥

[@llew-AZ]

You should put together a video with your audience that have then send you their home taxes and insurance costs with the estimate of the homes from Zillow based on state. Make sure they include city, state, Sq footage, garage size, lot size, etc... you could pick a few that are decent compatibles.

[@MCC876]

Developers know that until January 2025 will be their best time to buy old condos in Miami. Condo owners face paying a large amount of money to get their condo reserve up to the new mandate, which many simply cannot afford. I predict a very large number of old condos being sold to developers between now and January 2025.

[@MichaelBordenaro]

I think so too

[@tomswierszczyk1162]

Good news for those condo owners trapped by unforeseen new assessments , higher insurance and HOA costs - there maybe a way out...

[@billredding2000]

@@tomswierszczyk1162 But why would a NEW owner want to buy that condo with the increased costs of "owning" it each month (meaning, carrying a mortgage on it), including any increased HOA fee, assessments or outrageous new insurance rates? Even if someone paid cash up-front for the condo -- so no need for a mortgage -- about those OTHER increased costs: Who would want undertake them? -- BR

[@tomswierszczyk1162]

@@billredding2000 Because he, the developer, will demolish the whole building. In its place, a new modern structure would carry more floors with more units at 3 to 5 times the price per unit. Or, he can repurpose the building and lease it to FORTUNE 500 company for next decade and make even more money. Miami is one of the fastest growing cities in America, and very business friendly.

[@billredding2000]

@@tomswierszczyk1162 Thanks...but I should have made it clear by "who" I meant a BUYER of a condo in the original building -- an individual (like us) -- as I wasn't thinking "commercially" ("wholesale" vs. "retail," if you will). ;-) So, it seems if the building remains standing with the condos "as-is," there's no individual (if smart) who would buy a condo there, only a developer. -- BR

[@mattanderson6672]

Thanks Mich

[@A1Bokeh]

really digging these videos I do not know much about real estate at all but im wanting to get out there..tons of info and its cool to see the nice areas you walk around in

[@MichaelBordenaro]

Thanks!

[@tizzx4945]

A video of Michael is the perfect way to start the weekend😊

[@dickjones8119]

You in love ... 🙂

[@MichaelBordenaro]

😎🤙

[@randymillhouse791]

Salaries are low in Florida. I left for Texas in 2022 and got a job making $30K more and bought a 3 BR house brand new build for $352K. My mortgage is less than the old 1K sq. ft. apartment rent and I have a 2K sq. ft. home now. I heard that my replacement was offered about what I make now in TX. But their expenses are THROUGH THE ROOF in Florida. Best decision I ever made. Fun fact: HOA fees I saw in FL. were about $400 per month. Mine in TX. is $547 per YEAR!

[@russellseilhamer4552]

Michael, you should visit southern Maine; the Ogonquin area. They have some of the most beautiful beaches you’ll find anywhere

[@Monkeybongoes]

Ponte Vedra Beach would make a fascinating walk and talk video. There are a couple miles of mansions built on the dunes. Storms over the past 5 years have eroded the dunes, and most of the mansions are teetering on the edge of collapse. You can see the desperate measures people are taking, from building concretes retaining walls to planting sea grass and bringing in truckloads of sand. But it's clearly a matter of time before miles of mansions become unlivable.

[@MichaelBordenaro]

That’s so crazy

[@Chloe-hv7xi]

That’s where I live… They added miles of sand between the houses and the beach last year. Remade all the beach stairs and a few weeks later the sand was all gone 😅 probably all paid for by the tax payers.

[@commonsense6967]

That's what happened to a house we were renting in Pensacola Beach, right on the Bay, in the 1980s. The water encroached so much in the year we were there, that half of the backyard fountain/patio disappeared into the Bay!😮

[@timboc105]

Awesome..Mother Nature will prevail 😂

[@mariamartino2863]

@@timboc105 Seems like Mother Nature is cleaning up

[@toomanymodz]

Another reason to consider is the amount of price gouging here. Since there is a shortage of everything, the prices and labor charges are astronomical. A new roof for my mothers 1300 sq/ft home cost $24k. Another example is my neighbor needed his garage door spring replaced. They wanted to charge $800, and since it was the weekend they wanted $1,000. My neighbor changed the spring himself for $120. Everything here is very expensive. A company wanted $28k to put up a new fence for a friend of mine. Luckily he knew someone who gave him an honest price of $8400. It seems that almost everyone is out to over-price for their services.

[@JNoMooreNumbers]

24k for a roof?😳I paid 5k for a 1100 sq ft house. A major company too.

[@BDUBB24]

More people should take the effort to learn how to remodel and repair themselves, including roofing. It certainly is hard work, but not overly complicated, and you’d save a fortune if you and a couple buddies would be willing to do it.

[@JNoMooreNumbers]

@@BDUBB24 I fixed up a foreclosure nearly by.myself when widowed to survive. Made a good profit and got another fixer upper. If an older small female with health issues can do it so can others. Took six months as was limited physically but I did it and went without and paid it off. People are getting too soft and spoiled. Put up with nonsense and not lift a finger and you'll get taken advantage of which in turn ruins things for others. Letting government get too big has a big hand in this mess we're in. Complying made things worse. Many can't even change a flat tire. I was working on simple fixes in cars at 16.

[@toomanymodz]

@@BDUBB24 I agree. We need to band together and help each other out. I can work on cars and have basic HVAC skills, so at least I can offer those skills to my friends and family.

[@BDUBB24]

@@toomanymodz I realized how outrageous things had gotten when I reached out to get quotes on putting in 3 more sprinkler heads on an existing line. About 30 ft of trench required and basic PVC attachment, just didn’t want to do it myself. I kid you not, I got quotes up to $3400. I was floored. Did it myself for less than $100 in about 2 hours.

[@Billpimentel82]

My insurance in Miami was 7k a year, here in Sebring (central florida) its 800 a year. Just the coastal cities are expenses.

[@baldydoes]

Born and raised here in the sunshine state, also in the process of purchasing a new build. The coastal area insurance is nuts. Interior isn't much better unfortunately. We're buying new build right now because of seller incentives and much cheaper insurance on new builds.

[@wlester66]

Yup my sister and her family are finding that out now and are considering leaving Florida for real estate prices more reasonable

[@Dee8H]

Really enjoy your channel! Nice to see your wife joining in.

[@MichaelBordenaro]

Thank you!

[@variableresistor]

Glad you're coming to visit our great state! You're hitting all the great spots for your trip; they're beautiful areas. But yeah, expensive AF in those particular areas 😅.

[@silvermaiden77]

im back to comment , One thing i know about South Orange County is a lot of mortgage corps have their headquarters there. The epicenter for these corps is the area comprising Costa mesa.newport beach all way to Irvine. Last housing bubble these Mort operations big and small were as abundant as locusts. Many went under when the bubble popped in 2007-2012. South coastal OC is a different animal than LA. More organized, cleaner and perhaps a bit more upscale than LA County. But not immune from a RE collapae. I remember going into a super planned community called Rancho Margharita in the last bubble era and saw recent built 4-3 2 -story neat fancy homes many of which had shown signs of distress and even foreclosed upon. I miss kayaking out of Newport Harbor. And surfing Huntington Beach since i moved out of coast in 2020

[@oldroscoe2590]

My homeowners went from 0 to 0 again this year. I dropped it a few years ago when the homeowner insurance I had said I'd have to put my vehicles with them if I wanted to stay with them. If a fire or tornado levels the old place I'm be able to buy another one. I'm still able to do repairs and keep the old place up (and some of the neighborhood) ........ to my standards.

[@ieatsnowcrabs2240]

I live in Florida, and I'm trying to convince my wife to let us leave so we can finally afford a house 🫤

[@randymillhouse791]

I left in April 2022 and found a house in TX. 2K sq. ft. new build for $352K and a $47 per month HOA. Make $30K more here too in the same type of job I had in FL.

[@cosmiccometchichi]

@@randymillhouse791you lost me at HOA

[@randymillhouse791]

@@cosmiccometchichi You just gave me a great idea. I am going to invent an internet search engine called GOOGLE!

[@fozzir]

If you have to convince your wife to leave Florida you will be there until you die.

[@randymillhouse791]

@@fozzir Florida not looking so good tonight, or for this past week. Franklin, Idalia, other stuff churning 700 miles out in the Atlantic does not make for a comfortable life. I know, lived in Florida for 30 years. Getting out was a great financial move. Tonight, I realize there are other benefits.

[@timothygrote]

Bangin show again!!

[@MichaelBordenaro]

Thank you Tim!

[@markking2054]

Hope you do a Walk and Talk on Newport Beach it's the bay/ Harbor 7 Islands ,The Peninsula and up above Coast Hwy.

[@mikeparker5550]

Beach water temps in Miami during the coldest winter months are 5-7 degrees warmer than southern Cali mid summer temps. At least the water is refreshing during a hot day though, unlike south FL !

[@MichaelBordenaro]

That’s what I’m enjoying about going to the beach here in the summer. Feels good to get into the cold water on a nice warm day. We don’t ever really get that in Miami except for a couple months in the winter. i’m not a fan of the beach in the summertime in Florida. The air is hot, so is the water there’s no relief.

[@JBoy340a]

@@MichaelBordenaro at least you are not there this year with the 100+ water.

[@MichaelBordenaro]

@@JBoy340a I know! I’m happy I’m not there right now

[@JBoy340a]

@@MichaelBordenaro agreed. BTW, what is the "normal" water temperature?

[@MikeSunRiseWest]

What is the phrase? Water seeks its own level. Things will eventually equalize. The operative word Is eventually

[@CryptocurrencyTheory]

Hey, welcome from Irvine!

[@gladysgriffin7347]

I enjoyed the Video

[@murphoto]

It would be interesting for you guys to do a swing to the upper midwest for some perspective. My area in Wisconsin on Lake Michigan is beautiful 8 months out of the year (don't ask about the other 4 months!). And home, insurance, cost of living is way cheaper, although higher then it's ever been. I investigated moving to Florida, found your channel and you talked me out of it. Insane. I'll turn up the thermostat. Thumbs up for Lisi !

[@Biker.Adam22]

Midwest is the best

[@julielehman1921]

I agree, I'm in Fort Wayne Indiana, I keep wanting to move more North, like Vermont. I think our summers are too hot. I couldn't stand that Heat! Plus the humidity and traffic. No thank you! I bet it's Beautiful where you live!

[@HateDietPepsi]

Property taxes are through the roof in a lot of areas. As much as the house payment.

[@Bufbills1]

Correct, the high interest rates are the biggest problem not being brought up here.

[@prettygirlus9008]

@17:00: From about 2000 - 2010, all the old single-story, 1950s mom & pop motels in Sunny Isles were torn down and replaced with 30-story condos.

[@jonahhex9620]

I’m glad your exploring more of California. I miss surfing Newport Beach. My Mom is still in Marina Del Rey.

[@chrisaycock5965]

Coastal areas and areas with a lot of natural disasters in recent years are getting astronomical rate increases.

[@drbassface]

Yeah! Don’t move here! Lol Let the prices drop back to reflect local wages!!! Michael, my 352 unit complex has lowered their base rent on 2/2’s by $300 in the past two weeks. (Still $86 more than my base rent) They have Ten units available. 11 one bedrooms. Seven three bedrooms. IF they’d stop overpricing lease renewals, maybe they wouldn’t be losing so many tenants. I pray it stays low and I get a break on my next lease offer in October 🙏

[@flamingofan5411]

Yes! People need to stop moving here!!!!

[@Ats889]

Dude thank you

[@RealCptHammonds]

Here's 3 tips for everyone you haven't shared that will keep insurance premiums lower: #1) DON'T BUY A GARBAGE HOUSE. If a house doesn't have cinder block construction, but has wood exterior walls, it's GARBAGE CONSTRUCTION. #2) Replace your roof with a commercial grade standing seam ***GALVANIZED STEEL*** (not some other metal) roof that typically last 75-100 years. #3) If your doors and windows don't conform to Miami-Dade standards for hurricanes, REPLACE THEM. By doing these things, you're going to save about 50% on insurance and won't get dropped.

[@bigtom1948]

Block houses are better but still cannot stand up to stronger hurricanes. Cast concrete homes are about as good as you can go.

[@johnlibonati7807]

@@bigtom1948my 1970s built block house withstood winds between 176 to 208 mph for almost an entire day during Hurricane Ian. 2100 SF. My jalousie windows are original. My roof was GAF shingle. The roof lost shingles, but never leaked. I’ll never worry about my house during a hurricane again. It’s a legit bunker. The pool cage...not so much.

[@robertburdette2365]

Your list is over 100k

[@MM-ig2zq]

Jajajajajajajajajajaja wishful thinking. But good advice.

[@gregorymontanez5882]

Bs you ain't saving 50 percent

[@dalenelson9717]

Thank you for being so honest and transparent. I changed my mind from moving from Jersey to Miami during the pandemic because of all of your factual info on the rising costs in Florida. And then on top of that the A hole FL governor sealed the deal to stay put in the Garden state. More prosperity and blessings to you!

[@ILLUMINATOR49]

Michael, your presentation is impeccable and your partner is a stunning addition. Onward to 100,000👍🖖

[@Lisithedogwalker]

Thank you!🩷🙏

[@Mountain_Bike_Trails]

good info

[@brianphillips9631]

I moved from CA to Florida in January. Yes, they have been some surprises! But with that said, I would do it again. Hands down, I would do it again.

[@marknewton6984]

Yes.

[@thephotochad]

100% on point. I'm thinking about moving out myself. Insurance is the main reason why.

[@Bufbills1]

Now is a good time.

[@ForceWinds3]

After being in FL for 33 years moved back to Michigan four years ago. A friend still there wants to get out.

[@naturelover2292]

Michigan has some beautiful lakes, my neighbor is from there, he went there to visit his family he brought me back some fudge, it was delicious.

[@buffycat4641]

Was a good article about the Florida property insurance debacle about 2 days ago in Washington Post.

[@micheleh4016]

It has gotten ridiculously expensive here in the Sunshine State. The influx of newbies and the resultant change in supply/demand cycle has caused prices, especially of services, to go through the roof. Stay where you are!

[@zachlafond2652]

I live in wisconsin. This state has horrible winters but i can deal with them for a relatively low cost of living. Plus 4 real seasons is kind of nice.

[@CutThroatBeast]

I live in Wautoma, WI since 2020 and the houses used to be around $70k - $100k. Now they're $150k - $200k+

[@naturelover2292]

@@CutThroatBeastthats still reasonable, better keep it quiet before the heard heads your way. 😂😂

[@myytran3912]

Hi Michael welcome to CA, please visit Palmdale, take a 25 cent tour of out Aviation History.

[@randomstuffman01]

Toronto Canada. Getting crazy expensive here too. Inflation. Housing, food, gasoline, insurance, etc. Yikes.

[@elizabethschneider6173]

My mom lives in one of those older beach side condos and the assessments on them are crazy high insane ! No one took care of any of these buildings it seems ! Also. The population in many of these building are the elderly , who will probably be forced out in their 80s to go somewhere else. It’s all just nuts ! Beautiful beach there in California !!!! Great video !