New Construction SURPRISE! Property Taxes EXPLODE AFTER PURCHASE!

Already 75% of recent homebuyers have buyers remorse on some level, and the number one reason is because of how much the property taxes go up after purchase. But for homebuyers that purchase a brand new house, have it even worse. The property taxes advertise on brand new houses are much lower than existing homes because it's previously only factoring in the land value and once you actually purchase the house the taxes explode after purchase.
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

PROOF We Are HEADED FOR WORST CASE SCENARIO!

[@debbiec6216]

Michael , you need to move back to the southwest illinois . go out there and buy you a farm and house , and grow a garden and have some animals.

[@spaceindian3769]

We've had proof decades and decades ago The bilderberg group The trilateral commission The UN I can go on

[@HunterJohnson77]

I was dropped by Farmers for my 4 acre ranch style home even after it doubled in price.When I checked to find new insurance, the first 4 wouldn't even give me a quote. Finally I got insurance through Geico and It was just a hundred dollars a year less. My taxes have also skyrocketed. My house payment has gone up by almost $500 in just the past 4 years. Plus I have been with Farmers for 21 years zero claims, still got dropped, but so did others in my zip code. Crazy times.

[@bonzocleach2496]

@@debbiec6216 What a terrible suggestion.

[@user-oe5ey3ex8b]

We should all petition DeSantis and our legislators for an increase to the homestead exemption from the worthless $50K to $500K more in line with today's values. This wouldn't impact tax revenue because it wouldn't impact commercial or second home taxes. Tax revenue is also already high because of home values doubling. I would say tax revenue would still be above prepandemic levels.

[@ryanwilliams989]

The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.

[@TheresaAnderson-kf5xw]

I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.

[@maryHenokNft]

Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

[@maggysterling33254]

@@maryHenokNftKudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?

[@maryHenokNft]

Definitely! All of this happened in less than a year after *Gertrude Margaret Quinto* told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.

[@BiancaSherly-qt6sb]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@SaadatIrfan-nf9pu]

*I love the grounded reality of this channel!!!* Retirement took a toll on my finances, but with my involvement in the digital market, $27,000 weekly returns has been life changing. AWESOME GOD❤️❤

[@ClaraGilbart]

I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do ? Thank you 🙏

[@SaadatIrfan-nf9pu]

Thanks to my co-worker (Alex) who suggested Ms Maria Luisa Abrams.

[@SaadatIrfan-nf9pu]

She's a licensed broker in the states 🇺🇸

[@ReinholdHed]

Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.

[@ReinholdHed]

After I raised up to £228k trading with her I bought a new House and a car here in the United Kingdom 🇬🇧🇬🇧 also paid for my son's surgery (Oscar). Glory to God.shalom.🎉❤

[@davidbenett1]

This is such an important topic. I have family in FL and TX and I tell people all the time not to fall for the no income tax narrative. Both of these states have no income tax and my relatives always complain about their absurdly high property tax, sales tax and other various fees. You have to look at the total tax (and fee) picture, not just income tax.

[@eabhaconnor]

For sure! You need to think about all the taxes and fees, not just income tax. I think financial advisors can really help by looking at your whole financial picture, cutting down on any extra costs, and finding ways to handle property taxes smartly. This can take a load off homeowners, especially in places like FL and TX where taxes can be a bit tricky 🙁

[@lauraallisonn]

@@michealpnoel My brother is working with her currently and making it big. she is really good at what she does

[@sophialharper]

@@michealpnoel hey i think tthat was a great decision moving to Texas and buying a home .You'll love the fact that Texas doesn't have state income tax, so you get to keep more of what you earn. While property taxes are something to consider, many find that the lack of state income tax helps balance things out. It's a choice that can really benefit your financial situation

[@marblox9300]

Well, in Illinois we have ALL the taxes being high. So Illinois just does it better.

[@1powerequalsgod]

Exactly, just because there is no income tax doesn’t mean there are no other ways of getting that money that goes to the GOVERNMENT as revenue.

[@nogames8982]

I really don’t understand why people emphasize the interest rate over the actual price of the house. Yes it’s gonna be a little cheaper if the interest rate is lower, but if the house is too damn expensive to begin with it doesn’t matter what the interest rate is.

[@BREEZYM6015]

I looked at the interest rate, the price, and the monthly payment before I bought.

[@marysaltlife1427]

I totally agree, the price matters!

[@margostephenson8214]

Ditto!

[@retireinhuahin]

If you plan to live in the house for 10 years then interest rates are a huge factor. 4% vs 7% is massive over 10+ years.

[@nogames8982]

@@retireinhuahin I get it. But if the house is too damn expensive in the first place, how can you even afford to buy it? it’s the housing prices that are the problem. I bought a house Wayback in 2001 at 6.1% interest. but the house was much much cheaper than it would be today.

[@jayjay-bz3rr]

Brand new houses today are not built as good and solid as the homes from the 1960’s. In my opinion. New homes may be energy efficient, but they’re not as solid.

[@hectorrodriguez2686]

From siding to windows and doors, everything in new homes is less stout.

[@chargermopar]

Most of the 1960's homes have termites and have been ruined by remodeling.

[@IP0Monsturd]

I grew up in a home built in the early 60’s. My mom paid a little over 30k for this home in Southern California in 1973. This home was built with 2x4’s, chicken wire and stucco. Nice but nothing special. I put my childhood home’s address in Zillow a while back. That 30k home is now going for half a million dollars.

[@Francisco-po1cf]

I’ve seen so many sellers of existing homes try to pass problems onto buyers like old roofs. I’ve also seen solar panels that wasn’t paid off.

[@jayjay-bz3rr]

@@IP0Monsturd WOW!

[@nikkirsi]

Born and raised in S. Florida moved to Orlando, FL in 2015 and we sold our home in March 2023 in Orlando, FL (purchased it in 2018) and moved to the Midwest (OKC). We made a killing on our home in Orlando and put it all towards our down payment on our new home. Less property taxes, cheaper living, super nice people here, extremely safe compared to Orlando and we went from a 10K sqft lot, 2,700sqft home to a new custom construction on a 2acre lot with a detached guesthouse and 8 car garage. We have no family here and are those rare people you are speaking of in this video. Best decision we’ve ever made and our kid is thriving out here. Love your videos Michael, keep them coming!

[@TheRealestHi]

For the record, Orlando is not South Florida. South Florida is from West Palm Beach and down. Orlando is just plain Florida. 😂

[@bigvalley4987]

Great News! And inspiring to read.

[@marblox9300]

@@TheRealestHi This guy thinks Oklahoma is the midwest. Wouldn't believe anything he writes is true.

[@CementFactoryNutrition]

@@TheRealestHiI also lived in Orlando , SW FL ( fort myers ) and ft.lauderdale . All dumps , overpriced and over populated .

[@CementFactoryNutrition]

@@marblox9300it’s actually considered the south / southwest and Midwest . A quick search will tell you this .

[@GillAgainsIsland12]

Gotta agree. My property taxes are at New York levels. I came to Florida to avoid that. What a disappointment.

[@mutiny_on_the_bounty]

Yep. You people ruined your home area then fled to the South thinking you would be one of us and get cheap cost of living. Nope! As soon as y'all came here we tripled the price.

[@marblox9300]

@@mutiny_on_the_bounty It's not their fault. People are getting pushed out of high cost states and that influx of newbees are what increases the demand - that is what drives up prices. I live in a highly republican Chicago Suburb and the high cost of taxes is no better.

[@MB-xv7er]

Y’all are the ones who jack up the price. You come to the south and jack up the rent

[@johncpa9196]

This is me. I bought a new construction house in Dade City, Fl. Got my first tax bill, $8,000 WITH the homestead exemption. I about fainted. Nothing about my house, nor my area, is worth $8,000 a year. The schools here are bad, no attractions, in need of stop lights…… Unbelievable. I bought my house in cash, but I still want out. Many of my neighbors have higher taxes than me. D.R. Horton community.

[@benton-benton]

Imagine being stuck in a suburb of Columbus Ohio and paying 8k a year for property tax. That's me! It's ridiculous. Be happy you're in Florida.

[@johncpa9196]

@@benton-benton oh man, that does suck. New buy, or has it just gone up that much over time?

[@benton-benton]

@@johncpa9196 1947 house 2 bdrm 1 bth. Old suburb of Columbus. Schools take the most of the property tax money. Yep, I'd rather be in Florida than stuck here.

[@colettespencer3357]

Take your time with your decision. Right now, finding an ideal place to live is really difficult.

[@NoDaysOff-oz2zl]

Gotta pay for retired cops, retired firefighters, retired teachers, retired paper pushers.

[@robertwright7283]

Man are we in America in so much trouble.

[@debbiec6216]

why are we in trouble , do explain ?

[@johnjaco5544]

How can that be????TV says every things just fine.😂😂😂😂😂😂😂

[@bobshimits]

We're not allowed to build in any "wetlands", without 30 engineer's approvals from every level of government. Ect Then we're getting killed on our interest rates, giving it to our direct competition in illegals, and somehow have to still buy a house 😅

[@tonalddrump5554]

@@debbiec6216BLIND

[@shadowbanned4days]

Your that slow..lol or just our of touch?​@@debbiec6216

[@kingglizzer]

St. Louis MO may have lower home prices, but it's a crime-ridden city.

[@jkmarshall3553]

Every big city is... it's the burbs that are better and still low cost in St. Louis. And you know this!

[@savedbygrace777]

Missouri is an awful place to live!

[@C1K450]

No one’s moving in the inner city though. That’s all the crime. Chicago is a big example. The city itself loses its population but its population gains in Chicagoland suburbs. I wouldn’t live in the Midwest unless it’s Chicago or Minneapolis. The geography is too bland for me.

[@JoeBlow-fp5ng]

@@jkmarshall3553 Some big cities much much more than others. But iIcan't say what the real distinguishing factor is or KZbin will block my comments.

[@MM-fh6kp]

St Louis is a horrible place to live…….IMHO

[@marblox9300]

They USED to build houses for everyday Americans. Those days are long gone. Now those common houses are being demolished and in it's place a very high end house replaces it. Those property taxes are insanely high and the government loves it.

[@dp.7616]

It's called the destruction of the middle class. It's all part of the new world order.

[@malcolmlove4602]

KB Homes said 68% of its orders for new homes were canceled last quarter. The national cancellation rate is about 20%. FOMO is wearing off, and people are crunching numbers and not buying houses based on their emotions running wild.

[@debbiec6216]

They shouldn't in the first place ( emotions ), buy what you can afford .

[@NoDaysOff-oz2zl]

People aren't crunching numbers. They've run of money to tap. Can't tap the fake equity. Maxed out credit cards. $1800 a month EV or SUV payment. Exes. IRS tax lien. PPP run dry. Gotta pay back those student loans. Crypto options. Sports betting. Everything pawned. Too much 420. Avoiding the repo man.

[@Studiovette]

Makes sense. Values are dropping but taxes are rising! 😆

[@shadowbanned4days]

Lets go obiden

[@TonyTitleGuy]

As the value of real estate increases, due to inflation, the tax revenue produced will also go up. The argument, that we haven't had a raise in a long time, is a lie. Inflation of the value will automatically cause your taxes on the property to increase. Watch out, if the tax RATE increases, or special "one-time only" fees are added to your property.

[@Scorpio1060-]

Really, not in California. Home value $2M, annual property tax 5K, it doesn’t go up and it’s beautiful here.

[@user-xo3dh2id8g]

Why do they call it "Property tax"? It's actually "School Tax" when you look at the bill. Even if you have no kids in school.

[@pinschrunner]

School tax is separate from property taxes in many states. School tax is a tiny portion of property taxes in Florida.

[@markbone5028]

I call it extortion.

[@GenevieveEKelly]

Right, I never had children. Yet I’ve had to pay endless taxes for other people’s kids. 😡 Same with the GD forgiven student loans.😡 I did without only to pay for everyone else.😡

[@ThatGratefulGuy]

Because the tax is applied to the property, not the individual. The holder of the title (or mortgage) is responsible for the taxes applied to the land you hold title to.

[@charlesp467]

School taxes are the largest portion by far in Texas . Probably just over half the bill

[@ColdPotato]

You will own nothing and still feel the sting of inflation when buying food to survive.

[@1970MPC]

All new homes are on postage stamp lots…. 😕

[@annmarie1689]

Stack em and pack em. it's horrible!

[@TimeToBeKind]

Beautiful Monday in paradise, South Carolina where insurance and taxes are 78% cheaper than Florida.

[@johnsizemore1666]

Yes, but there are State taxes..

[@jkmarshall3553]

Well, yeah single wides are like that. So...

[@dmac42]

Take it from somebody whose area was destroyed by the invasion of those from the northeast coast because they thought it was better here, you need to be quiet. If I were you, I would bash South Carolina. I tried to convince Northerners that red tide would give you Covid

[@Juliet875]

I'm in Florida and it is way more expensive here and it keeps going up unfortunately. Heard we are all due for more Insurance hikes as well this year again.

[@user-db2ob2jc2f]

Guess it's good ta have a full bowl of porridge in a state that has 14.5%(+10 off the record) poverty.

[@tommidd8042]

Who ever is in charge with raising any property tax anywhere should be stripped of their authority and sentenced to prison minimum 24 months.

[@andrewgleason586]

And don't forget if you're late on paying your property taxes interest starts ticking at 12 percent after 30 days...

[@njprepper8601]

18% if over $1500 where I am. It should be illegal.

[@mowtivatedmechanic1172]

Ahhhh bidding a tax receipt starts at 18% and then it goes down.

[@carlrasmussen2778]

Most ,if not all, of the cities you mentioned that are affordable are on every list of the most dangerous cities in the U.S. Not a good idea to buy or rent in these crime infested cities.

[@johnberry2877]

My brother in law saved for his retirement home and got plans from Better Homes magazine. Well, the home was built by mostly labor from family members who had experience or owned construction businesses. So, overall the home was constructed for less than 100 grand. This house was amazing to say the least. However, when it was assessed by the TAX man. It came in at such a cost that the TAX bill literally pushed him out of the home he had built. He lived in that house for less than a year and was forced to sell or have it foreclosed for tax reasons !

[@lrevz9672]

Same thing happened to my brother... my father has a small construction co. an had my brothers house built for around 350k... 5 bedroom 2700sqft... in 2006..... then 08 came. Taxes through the roof.. house appraisal 600k... payment went from 2500 to over 3300 .. that rate increase coupled with 2 newer cars pushed them over their limit an they had to move... i see this happening more an more coming up... ill keep my 155k house locked in at 3.75 i purchased in 08... 😂

[@craigelliott933]

Monday through Friday he operates the leaf blower, but on Saturday it's time to bring out the jackhammer.

[@inouno77]

That happened to me. When I bought my house the taxes went from 1.5K to 6.5K the next year. I am in Hollywood FL. Homesteaded.

[@CarlaQuattlebaum]

WHOA!

[@TruckerLerone]

Damn

[@Rick-gy8fz]

You might as well live in Illinois.

[@mowtivatedmechanic1172]

Jeez dude!!! The Redlands? Taxes that high?!?! I’d turn my property back into a tree nursery or a farm.

[@francismarion6400]

But you knew it was coming, right ?

[@richardhay645]

The property taxes on new construction go up sharply because the latest tax bill on that property only reflects the vacant lot.

[@njprepper8601]

That is criminal

[@marblox9300]

@@njprepper8601 What isn't criminal in the U.S.???

[@beloved-child]

Joey says everything is FANTASTIC, best economy ever

[@Anglophile2012]

Move to a state with very low property taxes and a small home

[@azwife1715]

Have you been to any of those cities you mentioned??? Democrat run crime fests....not worth the move😢

[@jkmarshall3553]

cess pools indeed!

[@Lionfish-Hunting]

No property taxes in the Cayman Islands except in the first year of purchase. And if you're a first time Caymanian buyer then that tax is waved as well. US property taxes are insane!!

[@mateofernando5066]

What about income taxes?

[@deborahheckstall1881]

Caymen means crocodile good look with that house.

[@gypsygirl9]

Yeh..who wants to live out on a small island like that? Pass.

[@mowtivatedmechanic1172]

Where’s their airport ? (Cayman Islands)

[@hoppeanofasgard1365]

I looked into this once because the ultra low taxes there in almost anything, some types of taxes not even existing was very intriguing, but when I saw just how small the Cayman islands were and how expensive food is there I had to pass. decided on Mexico instead, in Mexico property taxes are only 1/10th of 1%, and there's lots to do and see, and the food is cheap.

[@robertd..17]

I just purchased my Texas home 5 years ago and I know I can’t afford to buy one of the new construction homes in my neighborhood. The purchase price has doubled and the interest rates have tripled. Something will have to give for people to buy these new homes. Monthly mortgage payments including principal, insurance and taxes are unbelievable. It’s crazy…

[@Florida_Woman]

Why would anyone want to live in any of those places you listed, unless you don’t mind violent crime and murder capitals.

[@JoeBlow-fp5ng]

Hence the far lower property values. Not a bargain at all if you and your kids aren't safe in your own home.

[@TruckerLerone]

Welp, they better consider it otherwise……..

[@hoppeanofasgard1365]

Kansas city and San Antonio actually aren't that bad, rather mellow for the size of cities they are actually.

[@MultiAnne36]

Let me help, my grandparents moved out of Detroit in the 1950s for good reasons. The only way you can buy a house in a decent area of Detroit where it's semi safe is if you have a lot of money. If you need an affordable house anywhere in Wayne County you wouldn't want to live there.

[@bbdawise]

I bought a home in one of the suburbs to the West of St. Louis in early 2022. It's actually pretty nice here.

[@aaronlambert9297]

The list of affordable places to live nearly matches lists of cities that are most dangerous to live in. These are Detroit, St. Louis, Cleveland, Birmingham, Baltimore, Minneapolis and Kansas City

[@Tim29737]

That all is true. I bought a house in texas mid 2021. Monthly payment was $2,000. Next year because of the property tax my monthly payment became $2,550.

[@johndrago8370]

Texas has higher taxes than Florida. If the local county is getting $5,000 annually for taxes why can’t they live with that plus the 3% tax raise they absconded the previous year instead of gutting the new buyer and say they need to because it’s the law. Counties can lower the millage. They are killing themselves in the long run. Greed is one of the cardinal sins.

[@PilotVBall]

The correct term is Housing Tax. There is no such thing as property taxes. Under US law you are not allowed to own real estate. You can occupy it as long as you are paying either a mortgage but always the housing tax. Your local county, which bills you the housing tax, is the legal owner of all real estate. Property Taxes is a deceptive term populated by the regime so that you will never make the connection and realize that housing, out of all things, should not be taxed.

[@cheekytitaable]

What you said at :45 was so true of Arizona. Our builders went belly up and our warranties weren’t honored for defects and damages

[@ramonal2205]

I live in Northwestern Michigan and since covid we have seen out of state buyers come in to our markets and buy houses sight unseen above listing price because compared to California they are cheap. However for the local /native buyer prices have skyrocketed to the point locals are priced out. I bought my house in 2016 for 182,000, everything in my neighborhood is selling between 400-450k. My house is estimated at 368K. I blame these out of state buyers with cash from their more expensive California, Colorado utah homes pushing our prices up. Inventory is definitely a problem here. One co worker just got a house after 2 years looking, the house had 19 other offers and she will now be house poor because the prices are so high. New subscriber, am enjoying listening to your walk and talks

[@matthewronson5218]

It's much the same in AZ. It all looks inexpensive to Californians. Same with NYers and FLA, which they have destroyed in much the same way.

[@OGJeff685]

@@matthewronson5218 same all over the place. Any place that is desirable to live.

[@j.r.4187]

It's called "Step up in tax cost basis" which means that the property taxes reset at the current purchase price of the home when it's sold to a new buyer, and not based on the price that the builder paid for the land or construction of the house. The same thing applies on the resale of an existing house or condo

[@scottkarolchyk9187]

Where does all the is extra money go? Exactly what is the town doing with this windfall? Tax revenue is more than doubling each year and services and infrastructure have not been updated

[@ArthurvanH0udt]

Yes, similar here (EU-NL), so if you buy at a certain price you also (99%(-ish) accurate) know what the property tax is going to be after the buy. So I do not get why people would be surprised!

[@MereAYT]

The taxes listed a lot of times are from the old assessed value 20 years ago, for the last tenant, who had senior citizens adjusted rates.

[@scott21113]

@@scottkarolchyk9187 Goes for county services. An empty lot doesn't need the sheriff's office, court system, road maintenance, schools, libraries, etc. when someone occupies a home build on the former empty lot they demand services. My local area used the taxes to rebuild nearly all the local fire companies with better buildings and equipment to serve the population that added 15,000 new residents just in my zip code. If the services keep up the area stays attractive and supports my home value going up. I don't like taxes but they are a necessary evil. You can dislike HOAs but you can't run a county without administration and organization.

[@commonsense6967]

@@scott21113I'm not in an HOA, but my house is in the middle of 2 city lots, and BOTH are assessed for taxes at their highest use assessment, which is FL state law. And I canget only one homestead exemption, so when combined, my taxes are considerably higher than they would be if the house was on only one lot.

[@emzywillrich7243]

I still think people are nuts to pay that much for houses in Florida, even in Miami.

[@blackworldtraveler3711]

Some people can afford it.

[@pnketia]

Most major cities have a local state property tax calculator online. All you have to do is put in your zip code and the final cost of the home you paid for and it will show you your annual property tax rate and the dollar amount so there's no excuse for people not knowing this in advance or the agent not doing this for them.

[@Mike-qc8xd]

I did its cheaper in florida the ne

[@Steve-bm2zm]

Everyone in the deal doesn’t get paid until you sign all the papers and officially buy a house. Your agent the sellers agent, the home builder THEY DONT CARE!!!

[@michellebatzel5809]

Apparently you've been working with all the wrong people.

[@ihave35cents95]

Not everybody I became good friends with my realtor

[@waverly2468]

Many if not all states are in massive debt, mostly with unfunded pension liabilities, so they will try to squeeze as much money from you as they can. Calif. is struggling with a $60 billion deficit in spite of our 10% sales tax. Thank a teacher. CalSTRS is $100 billion in debt. If teachers don't last long on the job that's fine because they won't be collecting pensions.

[@Steve-bm2zm]

@@michellebatzel5809 I don’t work with anyone. I bought a house in 2010 and have it paid off.

[@lordcarve]

Home builders are garbage I wouldn't buy anything built after the year 1990 unless it's a custom built done well

[@iheartcolorado9311]

Those lists are complete BS! I live in Minneapolis, though I am not a 1st time home buyer, I am a third time home buyer, and I put an offer on a house in South Minneapolis 2 weeks ago and there were 35 offers on the house. I put in a solid offer that was $25,000 over asking, pass-fail inspection, full 20% down payment, appraisal coverage with a 30 day close and I did not get the house. The housing market in Minneapolis sucks. There is very little inventory in areas of the city that are safe and you would actually want to live, prices are high and interest rates suck. Had known that it would be this difficult to buy again when I sold my 2nd house in 2022, I NEVER would have sold, and I certainly would not have sold my first house. My first house was in a HIGHLY desirable are of South Minneapolis just a few blocks from a lake. My interest rate was 2.1%, my mortgage was $800 a month, I had it made...selling that house was a HUGE fucking mistake even though I walked away with a lot of money.

[@droubal]

You need to watch Real Estate Mindset. Travis will tell you why it is crazy to pay over asking. Wait for better prices. Bubbles always burst.

[@danilucita22]

I think the biggest thing is whether you can find a good job or not

[@Bruins77Fan]

I'm in NH and the average price of a new house is about $500K

[@Ospery157]

I'm from Iowa and there is no chance in hell I'd move back. The reason why they are cheaper there is because of crime and jobs. My first job after graduating from college was working at Boeing in St Louis and crime was all over there. And we're in several financial bubbles that the Fed created by keeping rates too low for too long. Commercial Real Estate has already started correcting and it's only a question of time until the rest of the economy starts doing the same.

[@dianamew]

Same, from Iowa and can't wait to get out of here. Son lives in Florida now and loves it, said he'd never move back to Iowa.

[@jbarkley4938653]

Midwest= Snow Storms and Tornadoes😂

[@katydid2877]

Name a place that has nothing.

[@debbiec6216]

Overall our winters are only 3 1/2 months , where other regions are 4 or 5 months long . And it depends on the region , my point is where I live , it storms , but not that bad , not lately. The last tornado in the region 2021 or 2022 ,when the tornado hit Amazon warehouse , and ever since then , they are keeping that warehouse closed. The families are suing entire place, including Amazon . When you sue , you sue everyone involved ( companies ) . P.S. with the snow, this winter , we didn't have a bad winter over all , not at all . Remember the Media like to make everything sound bad .

[@Freepr411]

Miami expat living in Midwest it sucks living out here omaha house taxes are getting as expensive as in MIA

[@katydid2877]

Where r u?

[@susanrocksvold534]

He said Omaha Nebraska 🎉😂 Home of the Oracle. Warn Buffet. I have that Omaha is the place to go for cheaper living. I'm like, Nope, the weather.

[@marblox9300]

Yea, but the most affordable place to live is Gary, Indiana.

[@paulc1352]

St. Louis has the highest murder rate in 50 years...

[@s99614]

The rent is too damn high!

[@JoeBlow-fp5ng]

Those Midwest cities have low house prices because every one you mentioned has soaring crime and the white populations are moving out if they can afford to. St. Louis and Detroit are total disasters with little or no hope of any type of comeback and Minneapolis is catching up to them quickly due to horrific Democrat policies on crime, policing, and taxation.

[@katydid2877]

The suburbs outside of every city he listed, maybe.

[@susanrocksvold534]

In time, especially when it's a food Desert in these cities, crime moves out into the suburbs. Detroit I have read is a good example.

[@John1908-vo1iv]

​@@susanrocksvold534it already started in St Louis suburbs. Carjackings, robberies, murder moving to expensive municipalities west of St Louis 18:42

[@shando3333]

Minneapolis is a joke. The city council defunded the police. I would not live there.

[@andrewgleason586]

Buy a older one and fix it up little by little,save your money and sanity...

[@jeffbalog5161]

Even those houses are way too high in my area.

[@Mr.Helper.]

Yeah .. fixer uppers are stupid expensive

[@EroticOnion23]

How does that make any difference regarding re-valuation & taxes in this video??...

[@ThePerimeters]

You gotta have skills to fix them unless you can find a moral (lololol) contractor or if you have skills you gotta get a hold of some reasonably cheap materials. The hedgies want them torn down so they can build housing they want people to live in notably in the city. You needed to buy one when housing was still relatively cheap (1970's - 2000) when no one wanted the older homes. But that was really because they didn't or don't have the skills to fix them and or access to reasonably cheap materials.

[@davidjames666]

in florida, it would be cost prohibitive to make an older house hurricaine proof where you get all the savings off insurance.

[@gregc8483]

St Louis County is where we all live. Prices are rising out here. St Louis City is where the deals are along with all of the murders and violent crimes. Oh, plus riots and a mayor that defunds the police at every turn.

[@IanThecrackerstacker]

I left Stl as fast as i could and never looked back.

[@charlesbrown9213]

@@IanThecrackerstacker - Me too. Whenever people ask me where I come from, I always say: "I'm from St.Louis, and its a great place to be FROM!"

[@charlesbrown9213]

As a former resident, 3 decades removed, there are only 3 things I miss from my old home town: a. White Castle b. Imo's Pizza c. Lion's Choice roast beef

[@IanThecrackerstacker]

@@charlesbrown9213 im now craving imos. 😆

[@elziemcmillion]

yes sir totally agree living in the north side of Downtown but I got a awesome deal and the construction is fabulous, compared to my condo in the CWE at a quarter of the price. So I am very happy!!!!

[@fredk9999]

Thank you to our host for these walk-around outdoor tour segments. Always learn from you

[@jamesdelap4085]

Move to the rust belt. . .Hell no.

[@Orlando_Steve]

Yeah no one is doing that. No one is leaving Florida for Ohio. I wish the Ohioans WOULD go back though.

[@ericaknesek3266]

Yeah, maybe inventory is coming back but who in the right mind wants to move to Florida I live there 11 years and it is a beautiful place to live however, how is anyone going to owe for taxes homeowners insurance HOA fees and this is going to be one of the most intense hurricane seasons on record. I’m glad I am moved from Florida. I cannot imagine another 2008 scenario been there done that.

[@jkmarshall3553]

"and this is going to be one of the most intense hurricane seasons on record"... wow, and clairvoyant as well!

[@solorsix]

Same

[@francismarion6400]

It's always going to be the worst hurricane season. 😂

[@lifewith9cats153]

I've lived in North AL most of my life and love AL. But, Birmingham has a high crime rate and had the distinction at the time of being the largest municipality to declare bankruptcy in 2011.

[@pensacola321]

Alaphuckenbama?

[@geraldkoth654]

As a seller if I am stupid enough to use a realtor, I ride them like a rented mule. I want action and I don't mean list and sit.

[@landeeld9596]

As a retired Realtor for 30 years. I avoided people like you like the plague

[@lordcarve]

Sounds like a bad idea

[@willlywillly]

I have been on the sidelines since spring 2021. I have waited this long I can easily wait another year. I don't care that interest rates are....only the price.

[@nowlaterkiss9811]

Me too! I'll wait.

[@JesusisLord-nn5oi]

BILLIONS of dollars to Ukraine and Israel while the U.S. Debt is over 34 Trillion dollars. Does anyone see anything WRONG here???

[@greenbrown7776]

Well, I agree to a degree with Israel part. I think we'll very much regret letting Russia overrun Ukraine, if that happens.

[@tqlla]

I support us, supporting the Ukraine. Yes, it has cost money, but we have gained a lot of insight into the readiness, strategies and capabilities of an adversary, and it hasnt cost the lives of our soldiers.

[@francismarion6400]

Climate bs will cost 20 Trillion.

[@greenbrown7776]

@@tqlla Agreed. I think a lot of people have it all wrong. I think Israeli aid ought to be have more strings attached, and Ukraine aid needs to be intensified. I still think the US should support our ally Israel, but the relationship needs a major adjustment.

[@MrSean03839]

The billions are going to US defense contractors who are making a killing supplying Ukraine with weapons.

[@scottkarolchyk9187]

Mortgage lenders should calculate property taxes correctly. They know the rate in that city at the purchase price.

[@greensandbeansgaming1358]

Best to buy a small lot and put a tiny home on it, then skip the insurance ha. Florida, you want to be outside anyway. Then get a cabin up north for the summers. Big fancy house lol, what just to tell people hey come look at my house I need to feel important.

[@Prophezora]

True. If I had a dollar or two I would buy something simple and invest the rest.

[@JoeBlow-fp5ng]

If such lots come up for sale some developers knocks down the existing small house and either builds a McMansion eyesore too big for the lot or builds rows of townhomes taking up every inch of land.

[@mowtivatedmechanic1172]

I’m buying a couple lots and doing just that. Dang it the land alone is expensive too.

[@greensandbeansgaming1358]

@mowtivatedmechanic1172 Maybe after buying it, you can subdivide it and sell them to others with same idea.

[@Norm475]

Over 30 years ago I worked for a company that had its headquarters in Kansas City and at that time it was still a great place to buy a home.

[@QRCodes4U]

My friend sold her house in California at the beach and moved to Missouri. She paid cash for her house in Missouri, has cheap property tax and her house is on Lake Ozark, where everyday is a holiday!

[@John1908-vo1iv]

That's terrible for the local buyers like me

[@mowtivatedmechanic1172]

and these buyers are the ones screwing the locals over. Pay cash sight unseen.

[@annjames1837]

I'm wondering whose deleting my comment hmm

[@annjames1837]

​@@John1908-vo1ivthey are l o c u s t

[@michaelrexrode3759]

Entire Florida economy is built on growth. When that slows or stops you have a problem.

[@MaxItUpwithMarta]

you are on point. few people know that.

[@gino2634]

all around me in fort lauderdale. old homes are being torn down and new ultra modern homes are replacing them. crazy. but there all sold. i ask how ? then there is condo and apartment towers going up all around me here , and they all get sold or rented. and again i ask how ? crazy whats going on here in FLL.

[@noreenn6976]

Happening in central FL too. I like the older FL homes, sad to see them torn down.

[@colettespencer3357]

This is happening all over Southern ca

[@anng4665]

I guess “The Builders” want the US to be filled with high density apartments. It’s likely that in 20 years or less, the US will look like Hong Kong. Demographics will flip as well, with illegal immigrants as well as legal ones having families. Meanwhile, the Millennials & generations that follow them will not recognize the country they grew up in. Unfortunately, most will not have children. Their family lines will end with them. It’s all so tragic.

[@censoredeveryday3320]

Migrants

[@dp.7616]

Globalists are buying everything in sight . They raise prices by buying all the inventory. It's like someone buying 20 million shares of a company with only 21 million float . It's can't go anywhere but up.

[@falconinflight6235]

Government employees living large lifestyles off of the taxpayers.

[@hoppeanofasgard1365]

Yep, and they love their big fat pensions all paid for in tax dollars too! mean while most private companies have abandoned the pension.

[@tiffanyjohnson9989]

I’m a government employee, we are not living large. I promise you that.

[@hoppeanofasgard1365]

@@tiffanyjohnson9989 highly depends on the government job, but regardless ya'll still getting pensions in retirement regardless of the job, and that's just not right.

[@user-ji6ni5wo2p]

Yes. The USA is a feudal society. Gov't workers, corporations, politicians at the top while the people are at the bottom.

[@bigvalley4987]

@@tiffanyjohnson9989, Hey so am I. And I will second you on that motion. And they take a percentage out each employee paycheck to build that pension. Ok🎯💯

[@willlywillly]

Michael I live in Birmingham. It's one of the most dangerous cities in America. And the cheap houses are inside the city limits.

[@glebb215]

WOW

[@valerierogers9609]

While gov't prints out legal counterfeit, we pay with our life-force. We used to have a country where you had a decent chance in return for hard work. Now, it's rubbish.

[@barnabusdoyle4930]

Gaming the system and exploiting other people are what get you paid now, hard work is what gets you exploited. This is what capitalism is built on.

[@Scorpio1060-]

Choose wisely when you vote. Elect politicians that don’t cater to the rich.

[@checkthelogic]

I bet not too many people thought about property tax hikes 😮. Good Thinking 🤔

[@braddevries1184]

I moved to the mid west and got a piece of the American dream. Got a good deal on a fixer upper in a small city with a 1/2hr commute. I like it here and was able to drop my bills considerably.

[@grantaugustyniak6667]

In Ohio - our Spring & Summers are getting warmer earlier every year ! Lived up here my entire life. At first thought about retiring to Florida but not anymore. The climate, cost, construction & people have changed. So, we decided to stay put & visit Florida when we want. Win-win ! Our winters are like 2-3 months top now - it’s crazy !

[@amyhudson1016]

At this rate Florida will end up a ghost town due to huge costs 😮

[@chargermopar]

There is no shortage of idiots who are willing to buy overpriced Miami properties.

[@AlexM-vh2pu]

@@chargermopar Plenty of foreign buyers especially from south America dropping big $$ on houses.

[@danilucita22]

@@chargermoparit’s expensive all over Florida. It wasn’t like this before.

[@dbrew2u]

In the direction that Florida is now headed ? Only the Rich in that State will survive . The Middle Class will have to find somewhere else .

[@chargermopar]

@@dbrew2u People in third world countries steal and run to Miami. At least they won't be executed here.

[@BladeObssession]

I love that you always tell the truth but I think people are looking for something positive so bad that they would almost prefer to be lied to just to hear some good news sadly

[@jasonhbush]

So move to move to murderville or rent forever 😂

[@MaxItUpwithMarta]

The median salary in St. Louis, Mo is $56,550, with 80% of salaries falling between $26,100 and $126,150. Salaries in St. Louis, Mo are generally below the national average. The median salary in Miami, FL is $60,900, with 80% of salaries falling between $25,334 and $151,380. Salaries in Miami, FL are generally close to the national average.

[@bobbyf7317]

Then again, who wants to move from beautiful south Florida sell their home and move to the Midwest maybe some not many

[@Kevin-fn1rn]

Would rather rent and live in ca than buy a house in st louis MO

[@dbrew2u]

The real question at this point should be ? Exactly how much higher can the cost of everything actually rise before most of us find ourselves in trouble ? And honestly , i for one predict Inflation will just continue going up .

[@mowtivatedmechanic1172]

We’re competing globally. You and I will be competing against foreign buyers for housing.

[@anthonybianchini5144]

It's pretty much guaranteed that inflation will only go up... questions being how much and how fast?

[@drupe100]

Ocala Florida area is still very reasonably priced and is a beautiful area of Florida. New Construction 250K to 300K. 1600 to 1800 sq.ft.

[@vladimirofsvalbard9477]

Thanks for the info btw! I've been passively looking to move south to Florida, but the costs/insurance in Fort Myers/Tampa is stupid. I'll take a peak at Ocala and other areas a bit further north. Have a wonderful day :)

[@pinschrunner]

If I leave my home state of Florida, I will be leaving the country, not moving to some Northern or Midwestern hellhole. The USA is forever about to be changed into a digital currency surveillance state

[@Runtherace247]

Hahaha. I love to vacation in Florida and the beaches are beautiful. Living there would suck unless you were walking distance to the beach and who can afford that. I live in an Ohio suburb and it is much nicer than Florida and has a lot less derelicts as well.

[@JoeBlow-fp5ng]

If you move to the Midwest, surveillance is not your main problem. Soaring violent crime (often) against white people is the problem.

[@egcruzer]

Mexico?

[@Orlando_Steve]

@@Runtherace247 Yeah Toledo, Akron and Cleveland are beautiful! 🤣🤣😂😂🤣🤣 That's why we have so many ex-Ohioans here. 🤣🤣😂😂🤣🤣

[@MrTmarshall]

I lived in southern Michigan for 49 years and seven years ago I started visiting Florida. Quickly decided that living in a law and order state like Florida was WAY better than living in communist Michigan or Ohio that’s basically the exact same as Michigan. Couldn’t pay me to move back to Michigan

[@owensdaniels6244]

YOU RIGHT SIR. ONE DAY I MIGHT HAVE TO SLEEP IN MY BOX TRUCK TURNED INTO AN R.V. CAUSE I CANT AFFORD THIS RIDICULOUS RENT PRICES. THIS IS TRULY CRAZY SIR.

[@J.A.M.133]

Michael, when you buy a new home the property taxes are based on THE LAND ONLY! The property appraisers cannot tax the builder on the improved property meaning the home until it is complete and a C/O has been issued. So of course the taxes are doing to go up. BUYERS need to work with a professional knowledgeable Realtor to help them navigate. Plus almost all the property Appraisers have a calculator on their websites to determine what the taxes are going to be based on the purchase price of the home , millage rate and homestead(if applicable).

[@anthonybianchini5144]

Michael is a dude we can count on to keep us informed. Can't say that about the news media. Keep the highly informative, engaging videos coming!

[@als7594]

Inventory is jumping in the CITY of Pittsburgh but not so much in the suburbs outside it's borders. City is in big trouble financially along with the school district. City home owners are trying to get out before the needed higher taxes get dumped on them. The city school board went to court last week and are demanding a complete real estate reassessment of the county, because they need these higher values for increased revenue from the city residents. You heard the story from last month that close to 50% of the commercial properties in the downtown Pittsburgh will be empty of tenants within the next four years. The other story was how the Police patrols were downsized between 3:00 am and 7:00 am in the city. There will be no more than 20 officers (More like 12-16) officers on duty during that time for a city of 300K. BTW there will be no one in any of the police stations during that time also. You can call and talk to the answering machine if you have an emergency.

[@vegaswebgeek]

I grew up in Kansas City in 1970s and 80s. It has changed allot in population demographics and was German ancestry and were farmers. Now, mostly Spanish and African Americans

[@georgeallen7667]

Lol..... enjoy your neighbors

[@lordcarve]

MO is mostly white but you gotta stay away from KC and St. Louis

[@censoredeveryday3320]

In contrast, in SW MO, it's mostly white people

[@ninacook9162]

The sound of construction going on nearby my house is music to my ears. Michael, any improvements that they can make to their property will reflect on the value of my home. The only way is up from here.

[@ryanretirement6662]

MIdwest have tornados every month and people don't see sunny day.

[@jkmarshall3553]

The sun is overrated!

[@dianamew]

Yep. I'm in the Midwest and plan on heading South. Cloudy most of the time here.

[@joed5419]

It’s not the two months of tornadoes that get people it’s the six months of Old Man Winter

[@dianamew]

​@@jkmarshall3553 The sun makes people feel better. Maybe the lack of sunshine is why most people in the Midwest are grumpy and mouthy and miserable most of the time? 😊

[@TrueBeliever6491]

Tornados I always pray and I'm still here. It used to be sunny here but the past eight or ten years the weather has changed and there's more rain, humidity and overcast skies due to pollution, etc. I take vit d for lack of sun and it works. Have to take the bad with the good. There is a reason its cheaper tho of c ourse.

[@jeffbalog5161]

That’s the #1 reason we have stayed out of the market is cap coming off taxes, sometimes even doubling and tripling, and your not getting anything for your tax hike, nothing changes except high pay raises for municipalities in which I don’t get that kind of a raise.

[@bluescityguy]

Yay - Giving St. Louis some love! Been helping people buy and sell here for 40 years!

[@keithkamps77]

My question for you is why do i need an agent to sell my house when i don't need one to buy or sell a car?????

[@joycedudzinski9415]

St. Louis MO...forget it. Crime is horrible. Live across the Old Miss river, 17 miles away and haven't been back in 19 years.

[@jkmarshall3553]

East St. Louis, yeah baby!!!!!!!!

[@John1908-vo1iv]

Illinois politics are way worse

[@michellebeuter1871]

I have seen one lender in my 20 years of working in the mortgage industry actually calculate using the new tax rate and qualify home buyers on new builds using that but they also have the borrowers sign at closing that its an estimated amount so if its above that it's on the borrower to pay the difference.

[@kevinpratt-ge5ye]

I purchased one new house. Unless you're buying a model, there is a lot to be done. I had to do the sod and landscaping. Install all the window treatments. Paint everything unless you like flat white.

[@davidcobb464]

I've never lived in Florida, but since they don't tax income, I assume the government makes up the difference on all of the other taxes, including hotel taxes. I'm curious how the total tax burden on residents compares to other states.

[@silverfoxfinance]

I wouldn’t live in any of those places listed. Let alone find a good job.

[@Gamesso1slO0l]

New house designs are kinda ugly, and I wouldn't trust the workmanship of todays builders

[@felixyusupov7299]

I moved from the D.C. Maryland area to Pittsburgh, PA because I wanted to own a house with being a slave to a monthly payment. My house cost me two years salary.

[@thatgirlirish5492]

I’m really floored that people do not know these things!! There’s so much financial illiteracy and so much stupidity with real estate in this country. I guess at least some people are learning through videos like these.

[@cer2299]

You can also call the county to get your tax bill.

[@dannymeske3821]

Love todays neighborhood! It's hard to believe that times are hard Micheal!