South Floridians look for budgeting options as housing costs rise

Living in South Florida is significantly more expensive than it used to be. CBS News Miami's Joe Gorchow set out to find the answer on how to budget living expenses in Miami-Dade and Broward Counties.

[@tjr4459]

It doesn’t matter if interest rates go down, the prices are still out of reach for most.

[@JC.LC.]

The biggest problem with Miami is that they allow too many people that don't even live in the country to buy properties, many of them just seating empty.

[@latinhellas6383]

Don't hold your breath for interest rates to go down in 2024.

[@Jack-russell103]

Feds have already said they are lowering rates so mortgage rates will,definitely drop later this year

[@latinhellas6383]

No, they have not said that. They published projections in December. The most recent thing Governor Powell said publicly is that he wants more evidence ... that inflation is well-anchored around 2% ... before lowering policy rates later this year; the mere breath from his mouth caused rates to tick back up again and interest-rate sensitive stocks to plunge. Look, I want rates to come down a bit too, but those December projections could get stuck up in stickiness. We'll see. Good Luck! @@Jack-russell103

[@misutasutanto6312]

​@@Jack-russell103No they didn't

[@Jack-russell103]

Yes they did…pay attention dude! Jpow said it on 60 minutes on sunday!!!!@@misutasutanto6312

[@Jack-russell103]

Follow the 10 year to 2 year treasury yields That tells,you where mortgage rates are going@@misutasutanto6312

[@shawndon3622]

$4000 a month for rent is crazy.

[@davidg11134]

new normal sadly

[@Real_Talk_Ent]

That’s just Brickell

[@daniellereid7576]

Ryte that a small mansion note in the country with land

[@mcm2366]

How wasteful spending $4k a mo renting in Brickell then burns more by indoor gardening. 😂 Miami realtor by day + onlyfans/insta model by night = driving up prices.

[@jmusmc85]

Yes, what a ridiculous idea. Just get a smaller apt?

[@millennialgalore5592]

Also I’m sure there is not just vegetables in there 💨🌱

[@JohnPrepuce]

Greater housing inventory will not lower prices, instead, it will incentivize more people to move here, which increases the cost of everything else.

[@Lucho0335]

I blame car insurances too its evil

[@renemartinez4956]

Can you blame them, between accidents , stolen cars and people scamming car insurances with fake accidents i dont blame them

[@Real_Talk_Ent]

I don’t like them

[@kellywade8275]

@@renemartinez4956 And people texting and talking while driving, speeding, belligerent in a rush because they left late and lack self- regulatory skills...

[@phillipcotton833]

Realistically speaking, Miami is ONLY suited for mid to high six figure income at MINIMUM. Where's the incentive for the hotel , restaurant, city employee " types" ??

[@Sovereignty420]

There were no "tips" here. It's all about oh you can't afford it so be prepared to give up stuff that you want because landlords are greedy as all get out. I hate South Florida now. I grew up here and now I have to leave.

[@Los526]

CBS terrible story lame not helpful 👎🏼⏬⬇️

[@half-breed]

Pack it up magots

[@cristina9012]

So why is groceries so much higher in Miami than the rest of Florida? Pure greed. Miami doesn’t pay shyte

[@Blaze6432]

overhead costs in South Florida is a lot higher. Rent for merchants, worker salaries.

[@jbevolve2023]

Did she say she BREASTFEED the bunnies? Got to the 2:30 mark.

[@JohnPrepuce]

"actually breastfeeds all of them." She's talking about the mommy bunny.

[@JolieFleur0116]

I heard, "I actually rescued all of them."

[@organicsoulgumbo]

Yes she said that lol

[@InsaneNuYawka]

"I actually breastfeed ALL of them"... How much money is she even saving doing that ? If its gotten to that point , girl leave Miami and save your morals !

[@izzyizzyizzy5638]

As a landlord that rents out three properties in Miami I have had to increase my tenants rent due to increase property taxes, HOA fees and "special assessments". It sucks but South, FL is just an expensive place to live now.

[@Real_Talk_Ent]

Cap

[@RonSlinker-dt7vr]

If they really get desperate those rabbits will end up in the crock pot.

[@Dan-oj4iq]

Ron: The opposite is true. Pets will be the last standing in every and all situations. People worship their pets.

[@mentuhotepii2641]

​@@Dan-oj4iqCorrection! Only wyt pipo worship their pets!

[@landmark22]

People blame inventory it is greed, And it's not the interest rates it's home prices homes that doubled even trippled in price in 3 years it's greed.

[@faraboverubieskerry]

These news stories about high rents are very dystopian. Someone who can afford a $4,000 townhouse is a ridiculous choice for this news piece. It is almost like a slap in the face to everyone else. I don't care about her indoor garden...she has nothing to teach me about saving because she really isn't anyone we can relate to . Also these news stories act like this is "news" but this has been talked about for years now. Why do people still use the 30% of your income line. We all know that is ideal and what they've said for decades BUT it is just not reality anymore. What a terrible news piece. So patronizing

[@Azner101]

The pandemic created this atmosphere that Florida was the place to be. That result drove prices up and forced lifelong residents to find another place to live. Eventually, Florida will be treated as a rich Utopia

[@half-breed]

Wrong, meatball ron did that trying to get the magots to vote for him and abandon chump

[@fredmiami7841]

Solutions? Real easy. I did a few weeks ago. MOVE OUT OF SOUTH FLORIDA.

[@demonslayer9905]

Rent will stay high, with no real solutions in this story . Tired of hearing about it when nothing is being done.

[@carynvanwyk]

I am on SSI and my rent is 90% of my check.

[@Trucho001]

Thank you DeSantis for making Florida sooo expensive.

[@Jack-russell103]

How is it desantis fault you bozo

[@dhowto3005]

This was an interesting report.

[@Sharonhenry3000]

And the sad part you're paying a high cost for poor quality housing

[@wildego04]

Everyone wants to move to Florida

[@novadhd]

Not really

[@half-breed]

Not, I prefer a house that won't get trashed every year

[@JC.LC.]

Really? This has been going on for about 3 years now.

[@morecarstuff]

my cousin has to pay 2400 every 6 months for partial car insurance. cause his 19 year old (who doesnt drive) lives with him! they wont remove him

[@MJ-oc9fp]

They need to get another insursnce company and not mention their son. Trsut me, it works :)

[@junkyarddog4896]

Florida is the highest cost of living, all major cities with Florida are over priced. Renting isn't just a problem Homes alone are higher than what they are really worth. Who the heck cares about interest rates when Property Taxes, Home owners insurance is higher, Water & Electricity is way higher, Government taxes like permits, fine and licensing. With more than 50% of all the expenses being charged by the government how are they helping wih the 35% increase in cost of living alone when they increase their Taxes, fees and fines to cover they pay raises. What idiot thought that $15 an hour is going to be fruitfull and where do they think thats coming from? Increase wages means increase overhead turns to increase cost of products and service, nothing was accomplished at all, just more subsidizing from taxes. Its like Dumb and Dumber running the government. And for those who believe in the words affordable housing, thats code for builder and developers looking to get credit and grants to steal land and build something then turn around and rent, lease of sale the housing for the market value not so affordable. Jimmy Carters idea was better and affordable Habitat for Humanity.

[@ivanaivanov]

So what was the financial tip here? Rent an expensive townhouse downtown, so it has space for a veg garden inside and save $50 a month on lettuce? That seems like the most expensive farmland ever, but good for them if the math works out

[@Judess89]

Good Evening,CBS MIAMI!

[@sriramcan]

having a kid is the worst thing going forward. You don't want you to see your kid go through this knowing it will only get even worse!

[@newtonng2163]

If interest go down the bidding war will start again and is an illusion that you can afford more house as you will end up paying more at a lower interest rate so that realtor interviewed without offense does not know or did not live thru the last couple of years and i say this from 35 years of real estate experience

[@landmark22]

Miami-fornia and New Fortlauder-York

[@alexquevedo831]

If you think Florida is expensive come to Colorado so you can lose your mind

[@Sovereignty420]

Rent in south Florida is higher than Colorado. Studio apartments are going for over $4K here.

[@organicsoulgumbo]

Man you’re crazy

[@hostileaks4495]

Not even close to south Florida prices

[@RobertZemeckis2025]

@@Sovereignty420 wrong

[@Betty-ub1jc]

I think that people in Denver are leaving due to the illegal immigrants and cost

[@arena2236]

I'm a Colombian-American, living now in Colombia because of U.S. prices. I tell you something, I see how corrupt leftist polititians, some even allied with narcoterrorists have mansions in Miami, to go for some days. Where are the authorities?. How many more are buying those types of properties. Meanhile I still have to do taxes in both countries, and is a nightmare for me. By the way, time to investigate those rich Colombian polititians from Petro's party. Thank you DOS, DOJ. (sarcasm). By the way, FARC is out of the terrorist list, but they are still killing people in my country, Alex Saab is free, and I hope they dont lift sanctions to Venezuela again. Just saying. I'm done with this administration, I'm done. I want to be back to the U.S. but I'm taking care of my mom, the health system here is fantastic, but the new corrupt, criminal government want to take everything from us, like in Venezuela. I kmow this is not the place to talk about it. I hope the U.S. is going to get better so I can come back. God Bless America, God Bless Latinamerica, God Bless Colombia. Please save us from communism.

[@magicalindigoadult3838]

The heath in Colombia is not I brought my aunt here because they don’t cover a home for her an elders home is not covered in Colombia

[@youtubeplumbing]

AIRBNB = HOMELESSNESS ‼️ Politicians are profiting

[@DJ-vj4vi]

Not really renting from an airbnb is the same thing as renting from a private landlord

[@ricardobike123]

did I spot marihuana plants in that veggie garden???

[@lawtonsfinest8622]

Ahhhh reminds me of Mexico, Jamaica, and Alta California 🥬☘️🌿🍀🍁🍂🍃🕶️😎🤓🇪🇸

[@schawnettarobinson8584]

It is so expensive.

[@ytfeverguy8367]

Moving to Mexico looks pretty good right about now.

[@user-dr8ug3gs3c]

Sky high prices that only the rich can afford. That's the ideal. The plan is working.

[@iveyhealth2266]

I wonder what they really hustle out of their "garden". 😅

[@CategoricalImperative]

I'm sure the owner of that townhouse REALLY loves that their tenants are cultivating and have rabbits running around the INTERIOR of their property. SHEESH🤨

[@beaubiden9293]

Is there a greedier people than the 🇮🇱s?

[@Kaitokaz]

I remember clear as day when interest rates were low around covid time owners just raised the price of their homes instead. This is a waste of time.

[@elelectrotech9374]

the craziness after the pandemic everything went up 30 to 50 % there is no way anyone can plan anything.

[@user-ce7jv1vw1g]

I Love Miami ❤😂🎉

[@Los526]

If i was a landlord I would not allow a grow in an apartment

[@royaltyempireinc9959]

Welcome to America

[@ricksaunders3889]

Thanks Joe.

[@imlevitating___]

Where is DeSantis? Shoes shopping?!?!

[@MichaelGilmoreTV]

Being poor and homeless, I think America needs a city for the rich. I coined Miami the Dubai of the USA. We need a place like Dubai. New York and Beverly Hills juxtaposed the rest of America are disqualified💰🏠🏢💯.

[@iveyhealth2266]

I feel so bad for those beautiful rabbits that she keeps imprisoned in those tiny little cages. 😢

[@shanerogers9386]

South Florida is the flipper and investor capital of the US!

[@user-ce7jv1vw1g]

Miami is The Future

[@robertward8035]

Ronnie is back, he's there for Florida!!!! He'll fix it like he always does!!😂😂😂😂😂😂😂😂😂😂😂😂😂😂

[@Jack-russell103]

What exactly do you wa t him to do?

[@onionpeeler2023]

Pack up and leave is the best option.

[@photoguymiami]

Get rid of supply and demand...

[@anthonymartinez4307]

The real estate lady is laughing, these homes are way overpriced 5% is not doing anything. Maybe they need to see the mass lay offs incoming.

[@CategoricalImperative]

So, where did they find that garbage real estate agent? If rates drop...... prices (per almost EVERY economist), should increase in tandem with buying power... SO, you're still stuck. I've been in real estate for 22 years. What we need is a: price correction.

[@celestialtl]

I live on the beach… I demand the government pay for my groceries and FEMA provide me a bungalow….do it NOW

[@datingandlifeadvicechannel7534]

😂😂😂 me too I need it now I was born in miami

[@cybercheetah7542]

Who has been moving down here. Huh during covid

[@user-zt8hn4ns5w]

if your fingerprints are not in the system, go to Mexico then cross the border. Mucho benefits

[@LadyCoyKoi]

I am so blessed to have a family that is super smart when it comes to finances. My parents got a home with yard and garage in the 1980s in Hialeah, than my brother paid it off in the 1990s. We only pay the taxes. We are consider Solar Panels on our own to limit electricity bills because was is most expensive is the electricity. You prioritize what is most important and work your way to have it and wait for the right time to buy. But people rather fight over for iPhones and stoopid Stanley cups and Drunk Elephant garbage products than saving up and focusing on housing and house maintenance. I am currently "snipping" (sneak attack for bargains and opportunities) for housing nearby my home, just in case any of my siblings needs a house and get it on a good price. This bubble is about to burst and prices will be lowest. People can call me a shark all they want, but sharks lived for BILLIONS of years for a good reason. I am a Greenland shark... I take my sweet time and do it right.

[@Sovereignty420]

You're delusional. The financial situation across the state is vastly different now than back in the 80's.

[@Betty-ub1jc]

Do you know that Homeowners insurance are now refusing customers who have solar panels? The prices are coming down in inflated parts of the country, but not in Miami. I don't know about Hialeah, because that's not really part of the US. 😂

[@Nottotv]

Sounds like a delusional spoiled brat who got a house handed to them by help of family members 😂 people don't view people as sharks who buy investment properties anymore. We all know this capitalism is just a game.

[@Jack-russell103]

She said her home is paid off and all they pay are taxes she doesnt have windstorm insurance so she can put as many solar panels on roof as she wants@@Betty-ub1jc

[@magicalindigoadult3838]

So lucky my aunt took my inheritance my dad died and I was stuck in a community building that bully me I have to start from scratch all the money my dad put for nothing

[@josevaldez5648]

Want to save Money? LEAVE!

[@phillybeccio2782]

That might be the best advice. There are more affordable areas.

[@delta0921]

That's Bidenomics! 😢

[@Shadowx157]

Republican state buddy

[@Betty-ub1jc]

​@@Shadowx157it's the entire country genius

[@d.p.6758]

Rent control is the answer!🤬🙏🇺🇸🌏

[@anthonymartinez4307]

5% is not enough your homes are way overpriced.

[@lkd7624]

He should grow weed or coca not Vegetables. He would definitely be able to afford to live in Florida

[@kimberlygilder4117]

They better come down on this rent they better come down on the groceries everything are there going to be a lot of innocent people getting killed

[@C.I.A795]

Close the state. Go live somewhere else. Making everything worse for everyone who's been here.

[@morecarstuff]

100% of my income goes to rent

[@jimmybrownett5983]

🍕🍕🍕

[@user-ce7jv1vw1g]

The Be$T $tate in The Country

[@almdrs]

Florida where the woke and everybody else go to...

[@averymoore509]

Both your liberal and conservative friends are rich care less as about Americans

[@DavidPerez-oj2dv]

GREED, I PAY NO RENT MY HOUSE IS PAID IN FULL MY TAXES ARE LOW I'M ABLE TO SAVE 500 EVERY MONTH FROM MY PAY

[@Sovereignty420]

Golf clap. Not all of us had the ability to buy a home back when it was feasible.

[@landmark22]

Greed

[@DavidPerez-oj2dv]

YEAH, FLORIDIANS CAN'T DRIVE

[@cHernandez6449]

Capitalism at its finest

[@phillipcotton833]

The UNREGULATED edition....

[@datingandlifeadvicechannel7534]

Is the vegetable garden a weed garden to pay for rent 😂

[@AnaRamirez-ly2vd]

Its sad how humans make it hard for eachother to live the bible does say those rich are buying their ticket to hell amen

[@Betty-ub1jc]

Tell that to the "Prosperity Preachers" ( TBN...)