The Great Florida Migration is Reversing

[@Justinhsgsfwfefyu]

The most important thing that everyone should think about now is how to invest in different sources of income that do not depend on the state.especially considering the current real estate cryptocurrency market,stocks,NFTs and forex are good area to explore thanks Mrs Sophia for coaching me

[@salah.3034]

Sophia again she's my mentor since last year I just received my profit this morning £89k

[@nomortimothy7851]

It is really refreshing to see a comment about Sophia I have worked with her also. her approach consistently keeps you ahead of the trend, She's the best i'll say..

[@ApprovedGiveaway]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been

[@ImportAgentBenardo]

The success behind every Rich person today is the decision they made for themselves im so happy with a good investment im able to acquire my third house recently even as a single mom at 41 and I believe if things keep going well I would retire early

[@RosemaryEdwin-lh5ih]

Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.

[@ralphholiman7401]

We left south Florida for Mississippi in 2004. Florida is beautiful, no doubt about it. And, it has a lot of things going for it, like great boating, vibrant Caribbean food and culture and a lot of other great stuff. But it just became too darned crowded. I lived 11 miles from my office in Miami and I was putting in 3-5 hours a day in my car on the commute. That's insane. I miss Florida, but I don't miss the traffic.

[@tzugrrl]

Best thing that could ever happen to Florida. It is miserably crowded. I grew up there, and it used to be beautiful. It is awful now. TOO MANY PEOPLE. The developers and the realtors have been feeding off Florida for far too long. Time for things to come back into balance. Too much development. Time for things to change.

[@dontaskmenomore]

We should have built a boarder wall at the Florida Georgia line 50 plus years ago.

[@Markham12thcentury]

WAY too many people here now. I can't even cast my vote because our population here has quadrupled in 4 years' time, and nothing is being done to accommodate that growth. I think they have four voting boots for 200 zillion people. Good, ole' Florida. Never missing an opportunity to do something idiotic.

[@matthewswingle391]

The ‘uglification’ of the state is going to be tough to undo.

[@timboc105]

Yessssssss..BINGO!

[@rochelletheriault650]

Totally agree!

[@jamesgullo8240]

Florida was fun (and affordable) 40 years ago.

[@Floorguy1000]

I think that describes most places.

[@charlies3502]

Around 1984 my wife and I were living in Rockland County NY. The snow outside was over the top of the cars and we were watching Miami Vice on TV. I said to me wife. What are we doing living here ? Let's go to Florida - and we did. It was great ! A little tough getting my first job but after a little while I had good steady work for 30+ years and the cost of living was really really low. Weekends were spent at the beach, scuba and later we had a 25' open fisherman. We felt blessed.

[@GregA-i6l]

I bought a house 49’ above sea level in St Petersburg in 2012. Paid off mortgage, self insure, use my golf cart to do most things. Pretty damn cheap to live in an awesome place if you keep your house size and expectations in check.

[@JimmyTSicily]

Haha that's really funny and also true, the name of the game now is survival of the fittest if you're not physically financially and emotionally solid as a rock.. vacating would be very prudent.😂

[@chriskelly6559]

Spring Break '75, Ft Lauderdale. Too much fun.

[@adoss7273]

People are simply delusional. It is an extremely tall order to ask someone to pay substantially more for your house than you did in 2021 when interest rates, property taxes and insurance have doubled - sometimes tripled - since then. Most of these people putting their houses on the market for absurd prices wouldn't qualify for the very house they're selling right now. I'm in NE FL and prices have stagnated as inventory builds up. These small price drops are meaningless in this environment.

[@DerraKormino]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@jackson-z7o]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@hoosier-daddy-wv5gi]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@amoreauMike-t6z]

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@hoosier-daddy-wv5gi]

There are advisors in cities around you but I needed services of one who can guide me irrespective of location. ‘Melissa Terri Swayne’ comes highly recommended especially in times like this. I am hedging and haven't lost much to the recession. I found her in 2020 when the market was at an all time low. Look her up and thank me later.

[@hoosier-daddy-wv5gi]

Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@Blitz4688]

If you bought a home/condo in most of Florida in 2021-2023 you most likely overpaid and should expect to take a hit if you need to sell now.

[@odeszarules5125]

This is a blessing. Been here over 30 years. It’s grown and grown and then COVID happened and now it’s ridiculous. Yes, please reverse course and go back to where you came. Sorry. Not trying to be mean. It’s just so full and we don’t have the roads

[@ruthdella37]

All the highways are getting a makeover. They took out the EZ Pass booths and are expanding the roads with three extra lanes in each direction from Daytona Beach to Orlando to Miami ;and Orlando to Tampa. They are putting in more FastPass lanes. They have Brightline’s train from Miami to Orlando MCO and are expanding it to Tampa. There SOOOO MUCH road construction going on. But in a few years, it’s going to be GREAT!

[@PianoMatronNeeNee]

I’m a Floridian and plan on leaving in the near future. People are tired of the stress Florida has. The saying goes, “ It’s a nice place to visit but I wouldn’t want to live there.” . I miss the way it used to be.

[@GregA-i6l]

Rosy Nostalgia.

[@JimmyTSicily]

Yeah it's pretty sad I'm originally from New Jersey been here about 12 years but all I could do is rent because buying is out of the question but in about a year from now I expect to be able to buy a house cash because the prices are going to plunge and it's all about being financially physically and emotionally fit those are the ones that will survive and persevere

[@ArthurDentZaphodBeeb]

Same with Hawaii. We spent 3 years getting permits, moved there to start building and it was nonstop issues. Left for sudden health issues and sold. What a relief.

[@ronie6773]

I hope so, how can you be so sure ​@@JimmyTSicily

[@ronie6773]

​@JimmyTSicily if you're in florida 12 yrs why didn't you buy in last crash

[@livingmybestlife365]

I don’t think people understand that there’s no such thing as a cheap nice area currently in this country. No matter what state. It’s the new reality.

[@rogerpatton4769]

The guy in the article overpaid for his house and is surprised that his house isn’t selling. If the price is right it will sell. Just because he overpaid doesn’t mean someone else will or should.

[@BuddhismHotlineTV]

Spot on

[@endofsociety]

Hes gonna have to take a huge loss if he wants to sell it.

[@Katiekatie948]

Forgot the first rule…buy low sell high…he got it exactly backward.

[@Newlinjim]

Exactly. How many more buyers from those yrs are in the same boat and now trying to carry expenses in two different states. All you have to do is look @ Zillows prior sales to see the unrealistic price jumps from 2019,but I guess that’s too rational an option.

[@andyhughes1776]

What goes up, must come down. Yet, when it goes up, nobody wants to believe that it must come down sooner or later.

[@JimmyTSicily]

Yes especially the people that own homes they bought a couple years ago at the peak they are delusional that they could get more or break even not going to happen

[@EM-ru3eh]

It's getting to be too much for those of us on a fixed income, the annual escrow increases and other escalating costs. Feeling very fortunate that I was able to sell my 40-yr old with a Charley tile roof Port Charlotte home, last week. When I listed, my realtor warned me I was competing with many new builds just around the block so be ready to drop my price, which I did. I'm still living in the area, in a lovely rental where I don't have to worry about too much 😉

[@simontempler3239]

Buyers are not leaving FL, the property is just changing hands ! As owners leave new ones come in , likely corporations. The strange and ominous thing about what is driving people off (the storms) is that they are striking areas (multiple times) that have not been hit for decades! Very strange indeed ! Most of these areas around the Big Bend were the last affordable shore front property left in Florida and they suffered direct hits 3 times in a row in less then 13 months! Prior to 2023 when Idalia hit, it was almost 73 years since one hit that part of Florida! Then BOOM all of a sudden it gets hit three times in a row! It almost defies logic as the probability of a storm hitting the same exact area in less then a 13 month period is less then 1% ! according to historical data and statistics.

[@rochelletheriault650]

Weather manipulation

[@john5712]

I’m not moving but I would love the property values to go down to save on taxes and insurance. Homes are not an investment the government pension scheme steals all the gains.

[@AJohnson-m8t]

Sadly, the time to sell was 2 years ago, just before there was a rush to the exits. Now, inventory is skyrocketing and It is just a giant game of musical chairs. As a prospective buyer, once you add up all of the assessments, taxes, HOA fees & insurance-if you can even get it, most areas do not make sense to purchase, when you can rent for so much less.

[@brucec954]

My Nephew in NC says they are seeing more people (and this was before the latest hurricanes) who moved to Florida from the Northeast and now are moving to NC, so they call them "halfbacks". Now we have seen, in Western NC, people still getting hammered by hurricanes.

[@andykives3420]

I've been in NE GA since 2008 and Floridiots and Halfbacks have been a big thing for almost a decade. Same with NC and TN.

[@joemartino6976]

The lesson here is that all real estate booms ultimately lead to an inflection point where things turn for the worse and the problems that were once absent in the good times become the new headlines of the day.

[@FREEDOM195844]

5 hurricanes in 2 years is a game changer for the West Coast of Florida and it's not one area affected but the whole coast from Naples to the Big Bend. All ground level homes have flooded on the water or on a barrier Island and it's no bargain if your house is built up higher because they got trashed too with pools popping and mountains of sand everywhere. Who wants to continually worry about these storms even if your house came through with no damage. The big issue is these storms show no sign of stopping this horrible assault! Lifelong Florida resident and this will greatly affect how we inhabit the West Coast of Florida.

[@elleeg.9413]

The large amts of building in high flood zones , not even on a grade, has been crazy. Puts homes in vulnerable positions and strips the land of precious vegetation, which is needed for protection.

[@troypollonais9143]

​@elleeg.9413 as a resident of pinellas county for 25 years only in the last 2 - 3 years have I become an amateur Hurricane Specialist. I think a lot of us became one after studying all manner of spaghetti models, storm surge, flood zone, elevation, wind speed, you name it. Just driving through shore acres you could see the nice houses with built up properties with the garage on the ground floor have little to no damage, while their next door neighbors typical florida ranch style 1 story house, lost everything

[@JimmyTSicily]

Yes I'm ready to retire in about 1 year live in Boca Raton now I was going to relocate to warm Mineral Springs or North Port or Venice but forget that no possibility I now have my eye on Vero Beach which did get hit recently but it's way better on the Atlantic side

[@EdwardM-t8p]

​@@elleeg.9413 Plus there are neighborhoods of houses which were built on land that never flooded until other neighborhoods were built around them and then they flood for the first time, and flood badly.

[@alterfloyd1]

Tampa prices have another 30% to drop.

[@IGbullshark]

To sum up the Tampa market right now from a hopeful first time buyer: "I was dumb enough to pay XXXX more than the home was worth, so you should be willing to pay 20% more than that"

[@davidandrich6100]

After Milton my Insurance co. cancelled my policy as it wont be renewed. If they could cancel it sooner they would have. Nationwide was not on my side.

[@indygothicsociety9716]

It never was

[@PolishprinceJG]

Florida was really nice in most neighborhoods I lived in, and I liked it, did my due diligence in 2017 and left after 13 years of living in the Tampa Bay and SW Florida area, I loved the beaches, lovely parks, and the warm weather, but the cost of living increases, dangerous traffic patterns in Tampa Bay due to urban infill and the future climate change risks, outweighed the pros for me, and I think I was right.

[@JohnDuch-k1e]

Tak kurwa

[@troypollonais9143]

Out of all those things, the home values related to average income are the real reason to leave florida. It's no longer an affordable place to live. It hasn't been cheap since before 2008

[@Rick-gy8fz]

I thought it was global warming? Climates and weather never remain static day to day. Don't buy into the cult mentality.

[@madeleineaudette1586]

Great information as always Ben.

[@bensellin]

Thanks Madaleine!

[@meropee9994]

Someone needs to tell the developers the great migration has begun. They are building like crazy in Englewood! Clearing lots of land and building tract housing.....

[@elleeg.9413]

@meropee9994 building in 10/10 flood risk areas. No one will be able to buy them. They can t afford the insurance. They destroyed the land. We bought our second home in 22 in Englewood East. We looked at flood factor, and building that mitigated wind. We have some damage with Ian. Nothing drastic and none with the last two. We were moving there to care for family, but getting elderly family members out of harms way is difficult so a family discussion is needed. So far we have not been canceled by our insurer. Doubled the rates but not canceled.

[@bayboybob]

Everyone is so excited that their house prices go up every year until their taxes and insurance are adjusted to the new prices. It will keep going up until only the upper 1% can afford Florida.

[@Valmontst]

I am considered a high net worth individual, and even I can’t afford to buy a small beachfront house in Florida. If I am considered to be in the top 10%, as far as wealth, and even I can’t afford to purchase it, who can??

[@ruthdella37]

Florida is BEAUTIFUL and has BEAUTIFUL beaches and nice weather nine months out of 12!

[@mchristr]

The artificially low interest rates have created this bubble. Interest rates don’t need to come down, housing prices do (10 to 20 percent).

[@BuddhismHotlineTV]

Spot on

[@Newlinjim]

When the government removes the return of a whole asset class that capital floods into the remaining two =real estate/equities.

[@Ashgutierr]

This.

[@towgod3096]

Hi Ben, I really enjoy your videos and their no-nonsense format. One point that stands out to me is all the Snowbirds that are just now heading south to their property. Do they have any damage to deal with, or they might be looking at a tear-down situation. I'am suspecting that there is a spike in real estate listing to come the first half of next year, some for land value only.

[@bensellin]

Glad you like them! Yes I was actually showing a house today that had still not been attended to since Milton. It was a mess. You could see the water line 2 feet up the wall. I was shocked it was still on the market. They owners are out of state and had not had time to get to it yet. I think we will see a big spike in listings come next Spring yes.

[@hideoussails1783]

There's always a buyer if the price is low enough

[@Markham12thcentury]

How come I looked on Zillow last night and saw several houses recently sold for over 400K if no one is buying? This was Port St. Lucie. I was researching a particular address and noticed that several sold....after Milton.

[@Markham12thcentury]

@DementiaDon Either way, Florida's an overpriced hell hole and only fools are still paying a premium to put themselves through it. Good for 'em. I hope they lose much.

[@davidmajer3652]

As the middle class shrinks, there will be fewer who can afford second homes, which will shrink housing demand in Florida.

[@MrDCMiami]

Not sure I see the connection. Middle class people generally can't afford second homes. Fuck, most middle classers can't even afford ONE home. Perhaps you're referring to the upper middle class ....

[@JERSEYTOMATO]

Who in “reality” needs a second home….just asking…

[@Markham12thcentury]

Oh no! Save the poor Liberals! Whatever will they do without their second, third and fourth house?! Boo Hoo. (Votes blue all over again)

[@dwshank]

I see it. 25 years ago, I knew two school teachers (!) in Maryland who owned a condo near Naples. They'd rent it out most of the year and enjoy it when they could with the plan that they'd retire there someday with a 10-year head start on the mortgage. Sounds unbelievable, but yes, the prices used to make that possible.

[@paulconner4614]

@@MrDCMiami He is talking about the retired snowbirds that come to Florida for the winter and then go back up North for the summer. I think they are less of an issue as Florida has had them forever. It's the huge spike in Wall Street buying residential houses along with people buying them for AirBnb. Both those trends have peaked and have slowly turned. It will get ugly is either of those head for the hills.

[@DEG1985]

There is no doubt that Florida is in serious trouble...

[@sandtoy11510]

Florida will do fine.. look for this guy to to a video in 3 or 4 years about the influx of new people moving back to Florida

[@sicsempertyrannis4104]

Yankees in Florida are in serious trouble. -Fixed it for you.😂

[@shanerogers9386]

Looking forward to helping out some NYers that came down here and started hoarding up peoples homes with the intention of renting it back to them. Gonna help them really hard

[@Fourofakind-22B]

@@sandtoy11510Bahahahaha! Only if a Democrat wins this state for the first time in decades. Most who moved to Florida moved because of masks and “freedom”. Now there’s realizing that couldn’t be further from the truth.

[@matthewswingle391]

Florida is economically depressed and nobody wants to hear it.

[@Floorguy1000]

Florida has no state or local (city) income taxes ....why are people surprised that real estate taxes go up ?

[@RedfishGB]

property tax is a percentage of market value, it’s capped if homestead exempted. I’m glad it goes up for non homestead owners. As a percentage of sale price, it is not massive for homeowners who are primary residence. Screw the investors! Locals will move in.

[@amyciriello2745]

I still plan on moving to the Venice area by the end of Summer 2025!

[@chantalle7340]

Venice is a beautiful area with a great beach.

[@andredaedone7732]

I sold in Florida in 2021 and moved to South Carolina. My taxes and insurance went way down from 5500 to 1700 this year..

[@jayroo26]

How much is state income tax in SC?

[@andredaedone7732]

@jayroo26 I am retired and my military and my SS are not taxable. After those are excluded, I costs me about 300 a year income tax on 27k of actual income before deductions. The tax is graduating, you can look it up, it's similar to North Carolina.

[@annjames1837]

You and thousands of other people. Just give it time and SC will be like Florida. Over priced, over populated and tons of traffic

[@andredaedone7732]

@annjames1837 then I will sell, make money, and move to Alaska.

[@annjames1837]

@@andredaedone7732 the definition of a lo cust

[@sellerg2968]

Was planning to buy second home in FL this coming winter (from Midwest) but all plans are on hold. The hurricanes and insurance issues make it less than desirable. Will be renting Jan/ Feb in FL until it makes sense again to buy.

[@FraaaaaankRizzo]

Go to South Carolina! Nothing but cold and snow up here in Pennsylvania!

[@bensellin]

I lived in PA. I believe you!

[@Bemmuu-p3m]

Yup, it's where I bought. Driving down today as closing happened this week. I was all in on purchasing in Tampa but with the constant hurricanes..nope.

[@raydemos1181]

Flee back to below zero weather, I am staying in the warmth and greenery, also ne heating bills

[@ronie6773]

You are great, keep up

[@doorguru168888]

I've been here 70 years and I'm used to it. Wouldn't live anywhere else.

[@theodoregibbons4615]

Don't bet on a migration out. Adjustments, yes. The allure of beautiful winter weather, beaches, and golf are very intoxicating allures to northerners.

[@dakalabanka9214]

The risk /reward in the FL market is gone….both for investors and 2nd home buyers. Its not if investors run- they have already started very quietly getting out before the major crash occurs to minimize losses. During the pandemic prices skyrocketed and overpriced the home market-now, the inventory is up; prices are falling; days on market up. Then throw in hurricanes and flood issues and the insurance crisis ….who wants to make a major investment like a 2nd home and have it be uninsurable or be unable to afford insurance and bear the risk of loss unless you are very, very wealthy ? Instead it is more cost effective to rent for a few months to soak up some warm weather and leave it behind ……

[@gerardguida7727]

I think people are really waiting to see what Happens in Our Presidential Election. The Insurance Industry needs to get their Acts together...

[@JimmyTSicily]

Yes but also property taxes are escalating and don't even dream of associating yourself with a condo that's a absolute dumpster fire

[@Bemmuu-p3m]

It's not the insurance industry's fault. You need lower house values, or the insurance premium will continue to go up. If you bought a house for 250k and pay $5,000 for insurance you can expect your insurance to double when your house is now worth $500,000, especially if the cost of materials to build such house also went up (along with everything else).

[@Valmontst]

For most of my life, I have dreamed of being able to retire and buy something on the beachfront, somewhere along the Florida coast. I am now 62, retired, and have been working and savings since the age of 12. I have skimmed and saved, with the goal of being able to one day move to the Florida coast, and buy a small cruiser boat. My current net worth is supposedly considered to be in the top 10% of the nation, (~$4 million) and there is no way that I feel comfortable in being able to afford to buy those things today. It is shocking and very depressing. If even I can’t afford to buy a small waterfront property, and boat, how many others can expect to do so?? It is a shame to have skimped and saved my entire life, amassed what I had assumed would be more than enough to have been able to retire and relocate to coastal Florida, and now have my dreams crushed.

[@dgriffin6074]

There needs to be a property tax revolution in this Country. Once your children are no longer attending public schools, you shouldn't have to pay school taxes! We home schooled, so we received no benefits from those taxes.Let those who benefit pay the taxes.

[@MrDCMiami]

The "underneath" money that fed the bubble is now gone. Buyers are holding their fire or are writing off Florida as a place to relocate to, so the air is no longer filling the bubble. Aside from overvaluation, you have extreme increases in upkeep/maintenance, taxes, INSURANCE, property damage, etc. I would not want to be a seller right now. I WAS one in January. I got a good offer and didn't try to haggle for a few more dollars. I took the money and ran. I'm now going to do my daily ritual - light a candle to celebrate my decision because I saw trouble ahead. A lot of things will need to be corrected - price, taxes, insurance, construction, and a break from the storms for at least several consecutive years. Until then, I see things continue to trend downward. Even BnB could take a huge hit because who wants to vacation in a storm devastated area? If those BnB properties are leveraged, foreclosures could ramp up!!

[@trobertson1825]

Like you telling the real truth

[@mikemoab]

I guess I’m wondering how many of the listings are from full time residents vs investors/people with 2nd homes. So are people really leaving?

[@Vangela1]

Good, we’re moving down next year from Minnesota.

[@DomrealtyGroup]

Good video / information

[@bensellin]

Thanks!

[@ronron2312]

Our neighbors own a second home in Florida. Despite their second home only experiencing only minor flooding they decided to sale.

[@LJH662]

The price drops are largely insignificant. Homes are 100-300k overvalued compared to the non existent labor market in SWFL. Was just a matter of time even with out the insurance and taxes problem.

[@paulconner4614]

I have actually been surprised at how slow moving this crash has been. With the interest rates and housing prices something has to break (especially when you add in insurance in places like Florida). But somehow the market is holding on.

[@LJH662]

@ only the wealthy purchase so it skews the median. Also the builders are in bed with counties to keep prices up for tax revenue! Hello DeSantis! Crooked!

[@charlies3502]

Ok, while this Redfin article you cite has a date of early Oct (post Helene) and pre Milton I suspect the article was in fact written (and researched) prior to the storms. Even all these year-over-year figures which are thrown out are pre-storms. I would be interested in how many 'pending' sales in the last couple of months have gone bust - and are there provisions in the contracts to help the buyers walk away, particularly if the 'subject' property OR EVEN the neighborhood are affected by storms. Hey it is really fortunate for those people with unaffected houses but to drive home past homes not so fortunate has to be a little demoralizing. Ben - please do a video where you highlight the reasons why someone should consider moving to SW Florida in late fall 2024.

[@FREEDOM195844]

Most of the flooded homes have been there for 40 to 70 years The new construction is east of the barrier islands The weather has drastically changed

[@oneemotiva4975]

I am in Miami, as per Zillow which is priced about 25% over real value, my home lost 125K in the last few months alone. I believe as an investor this will crash the Florida market. Was overpriced anyways for the last 2 years. In general, people moved to Florida because it was cheap to buy, now is has become more expensive than in CA, where I am from and Florida will never be CA as Miami will never be Los Angeles.

[@shanerogers9386]

You mean you don’t think the homes listed at $2MM that sold for $500K 2-3 year ago will hold their value?

[@Ryan-jx4vh]

I lived in San Diego, it isn't paradise. Great weather yes, but insane traffic, freezing cold murky water, earthquake fears, insane state income tax 🤷‍♂️

[@bradleyo2098]

People moved to FL because northern states had lockdowns during Corona. That is starting to unwind itself because of price spikes, homeowner insurance and hurricanes

[@oneemotiva4975]

@@shanerogers9386 No they wont, also no buyers, and a 2 M home your payment would be about 16K per month, ad the crazy home insurance, maintenance, your car payment, etc, you would need to make 400K a year at list to even been approved, so good luck with that one. IS less then 4 % of actual cash buyers, the rest that claim they are are using loans, or other peoples money.

[@oneemotiva4975]

@@Ryan-jx4vh Well I am from LA, worse then San Diego and Miami is not a walk on the park either because the light are never synchronized.

[@cefcruz5495]

I am in Texas, my house has been on the market since July and no bites. I suspect it maybe to the outcome of the election a few days from now. Once again, Ben spot on content!!!

[@bensellin]

Thank you! Yes very many people holding off till after election day.

[@john5712]

The taxes had to go up because schools need that money to pay all the retirees pensions. The school district says we need x amount of money the the property assessor raises home values by that much.the government increased the m2 money supply by 40 % from 2020 to 2024 and every thing went up by that amount but pay

[@harryhoesch3793]

The next big increase is Florida Power and Light raising rates to cover the hurricanes and flooding repairs, plus continuing until the they have sufficient reserves for the future. As a perspective buyer, it's hard to swallow paying for damages of those before you plus bailing out the power companies loss on risk to increase profits. Just another cost of Florida living increase.

[@JimmyTSicily]

Without a doubt Florida is becoming more and more for the financially Supreme that could weather the storm of all the little chipping away at people's wallets

[@bradleyo2098]

TECO is doing the same thing. Charge their customers a premium then cry poor mouth after bragging how quick they got the lights back on. No accountability for power companies

[@RonaldChristian-sl1uq]

What is your feeling about LWR /Sarasota/ E Bradenton/Palmetto areas . Seems like they can’t build the houses fast enough!

[@dmac42]

Overbuilt and too crowded

[@bensellin]

I think you nailed it. Seems like they can't build houses fast enough. I cant speak on Palmetto but the new builds in the other areas still seem to be holding up extremely well with high demand. A lot of people heading east moving away from the water.

[@kutatm]

@@bensellinTraffic is bad in that area. The roads cannot handle all the new growth. Palmetto is in early stages of development but it will suffer the same fate.

[@indygothicsociety9716]

As a former resident of 11 years one of the best days of my life was crossing the border leaving to move back up north #floraduhhh

[@dontaskmenomore]

thank you for leaving

[@Kristen10-22]

Cloudy and rain on Halloween?? Not here in Houston. Rain and clouds maybe this year. Usually sweating dew points in the high 70’s

[@endofsociety]

Lots of homeowners are gonna have to take a huge loss in order to unload their homes. The economy is so bad that its gonna take a long time to recover if we ever do. So sitting hoping for things to change for the better isnt the thing to do. Unless you can afford to hold on to that house for another 10 yrs give or take.

[@anzlito]

Come to southern cali. Been here over 20 years and maybe we've had two or three days where it's been cold or cloudy. It's usually in the mid 80s.

[@bensellin]

I've been through. Beautiful state. Drove the whole coast a few years back and was in awe.

[@Bob-g1i]

Gotta love the realtors with dire news about florida non stop. But funny, they live and are licensed here.

[@NovellAllen]

Do you not know that a new law requiring if a home was flooded must be reported to a new buyer, that almost all insurance companies have left and that the state insurance company is broke, HOA fees are rising in some areas 200%, new condo assessments in the tens or hundreds of thousands, insurance companies no longer wanting to insure flood prone areas, taxes skyrocketing, hurricanes which come yearly. Do the research, the numbers are tracked and documented and not made up by him.

[@FuzzyBears..]

They also lived in Florida in 2006-2008 when everyone in real estate went bankrupt

[@perryweeks9577]

I moved to chattanooga and love it here❤

[@BuddhismHotlineTV]

Bro I live in Tampa and am going to move to Knoxville. I almost did Chattanooga but it doesn’t have young crowd I want. It’s miles better than Tampa 🙏🙏

[@bensellin]

Great town. I stayed in Chattanooga during hurricane Irma. Did some Cave exploring, went to the point you can see several states, rode the tram. Had a great time.

[@perryweeks9577]

@@BuddhismHotlineTV Yeah knoxvilles ok . I do like chatt though 👍

[@rhammond2152]

I would be asking....where does one go? They won't be moving back to NE US, California, or Alaska.

[@driv3n758]

Insurance expense and HOA fees are getting crazy too.

[@pwu8194]

When Ian hit Florida, I expected the insurance premiums to hit the ceiling. It took 2 years for that to happen.

[@antcaruso3465]

Gave up on Florida years ago. Oppressive heat half the year

[@RenataDedalus]

Hi handsome, great content, keep up the good work

[@RobOlgatree]

I will never be a full time resident ever again

[@andredaedone7732]

Its overcast here too, has been for at least 4 days.

[@s99614]

I don't live anywhere near Florida, but I can remember getting rained on while out biking on 4th of July many times.

[@johngates5372]

How can anyone afford to buy a primary home let alone a secondary home?? We want to buy a retirement home in Punta Gorda but ………. ?!?!?!

[@Howiefm28496]

The most practical retirement living in Florida right now is to own your own RV and rent space in rv parks.

[@johngates5372]

Waterfront RV parks!!

[@chantalle7340]

The prices will start dropping & hopefully you can then afford to buy something.

[@JetJ321]

You are right. It would rain every Halloween and we were always scared it would be cancelled but never was 😊 I was born in S.Fl 1955 so even way before you.

[@Kristen10-22]

Idk if it’s so much hurricanes or weather as it is our red states. They aren’t leaving where I am here in Katy, Tx however I have heard people leaving due to obgyn health

[@bensellin]

I heard Katy is hugely popular. You guys had a really big boom from what I have seen?

[@Kristen10-22]

@ on going since 2012 It’s the school system Too many people lol

[@Kristen10-22]

@ Ben the minute a house is up it’s bought within a day or 2. We had to build in order to grab our home

[@bobthompkins3232]

Florida is overpriced 25, 35, even 45%

[@SupremeMotorsUSA]

Have to keep in mind that appreciation is normal at 3%. People think they can price a home 20% higher than they paid in a recent sale. A lot of this has to do with seller expectations and buyers thinking they will get 50% off. There will be a balancing of the market at some point.

[@parkependleton6453]

If you think that Florida has become overcrowded by people moving there, it is possible that some of those people would like to move back to where they came from, but can't afford to do so. The solution is obvious. An effort should be made to provide such people with Sarco pods.

[@TimMcmillan-k1c]

Isn’t property tax capped at a 3% increase if it’s your primary residence?

[@SquatchyNetwork]

Yes, and goes lower if the assessment is lower

[@EdwardM-t8p]

If Florida has another bad hurricane season next year like this past year or even 2004 I suspect the insurance companies will all make a run for the exits or go insolvent and out of business, creating a new Florida real estate bust like what happened in 1926 after the Miami hurricane.

[@Hotspur37]

my understandign was insurrers were not writing new home policies so Desantis said if they dont provide home policies they cannot provide any insurcnce in FLA so a lot of the said okay and left. Now the only option is the state provided one and its in a lot of difficulty

[@Newlinjim]

@@Hotspur37nothing an increase in property taxes can’t fix.

[@SquatchyNetwork]

It would be interesting to know how much of your area is in an at risk flood zone.

[@bensellin]

Technically all of it lol

[@elizabethallen4353]

Bought our Sarasota condo in 2017. Last year, we were tempted to upgrade to a house. Very glad we didn't. We'll enjoy what we have and stay off the real estate roller coaster.

[@gary9080]

You want your home values to go up but don’t want taxes and insurance to follow value gains?

[@Bemmuu-p3m]

Exactly. It's what people don't get. It's like the same argument people make about record profits at corporations so there must be price gauging. Are there record profits? Absolutely, but $1 Trillion dollars is about the same as $500 Billion 5 years ago, so it's all nominal.

[@DeborahThomas-h6x]

It’s an ebb and flow for now. Florida has benefits and appeal that no other state can offer. Weather events happen everywhere that people want to be. People will leave and people will come. Insurance will get straightened out (it’s high everywhere). No state income taxes, perfect winters, without being stuck indoors is a dream that is not going away. I prefer the Atlantic.

[@Youcanthandlethetruth-n5b]

The artificially inflated rents should start coming down yet, so that a ONE bedroom rents for a price STARTING with a ONE.......

[@langhamp8912]

Most homeowners: "Not In My Backyard" Hurricanes: "Not In my Backyard"

[@Dptl]

Its an honor soldier. This country appreciates the service that you provide as a reporting post from south florida. ❤

[@bensellin]

Not Military but thank you!

[@Dptl]

I agree its a bad idea ❤😊

[@Dptl]

@@bensellin It’s all numbers stats and P&L.

[@BuddhismHotlineTV]

I’m getting the HELL out of Tampa and moving to Knoxville tn for lower prices, nicer people, seaosns and beautiful terrain/nature and low insurance/taxes!!!!! Screw the people of Tampa they were rude miserable problematic people . Wasted so much money yere

[@cjairo]

Curious. Where do you originally move from?

[@BuddhismHotlineTV]

@ southern Indiana, Evansville area, then Indianapolis for a few years, I was tired of the unbearable winters and moved to Florida to escape it to realize it’s another version of hell, so Tennessee is the perfect middle ground for me

[@cjairo]

@@BuddhismHotlineTVokay that makes sense. I know a few people from Indianapolis area that can’t stand the traffic, heat, and one item I won’t mention on here in reference to big cities of Florida.

[@susan-e2y]

@@cjairo I live in a suburb of Indianapolis which is lovely. Our town has been ranked one of the best towns in the country to live and raise a family. Traffic not an issue like it was when I lived in Florida, there are 4 seasons and the last few winters have not been bad. We have very affordable home and auto insurance. The bang for the buck in terms of home prices is great. You can get a large home on a large lot for a very reasonable rate. No HOAs with big ideas to projects to assess you! The schools are highly rated and the people are friendly. Unlike Florida there are decent pays for employees. Florida wages are so low I wonder how anyone working can afford the high cost of housing, food and insurance. Florida had one season hot and hotter. Nicest in the winter when the place was infested by snowbirds who made life miserable with traffic and attitudes like they owned the place because their cheap selves hauled in from Canada for the winter. Poor servers in restaurants were stiffed on tips as they felt with the exchange rate they were paying enough so no tipping from them! I know what you are suggesting about big cities- the suburbs of Indy do not have problems with crime- the towns are very safe.

[@cjairo]

@@susan-e2yis the town called Carmel? A lot of my coworkers left Indiana and Illinois cause there is more money in Florida in our field and they say quality of living is better cause their kids could not play outside during the winter.

[@moa3008]

Let the institutional investors run for the exits so that the housing market can become more affordable for the poor middle class wage earners who are struggling to buy their first homes in Florida.

[@nameblocked]

Wait 🤔 what about the NO STATE TAXES⁉️ 😂🤣😂🤣😂🤣🤣🤣

[@hideoussails1783]

How many for sales are from vacation rentals?

[@davidduty8199]

Ty

[@bensellin]

☝️🤙

[@miriamwallwin7868]

This is the worst state I've ever been in. It's a big corrupt cesspool. Nothing good here

[@Bemmuu-p3m]

I was one of those people who was looking at moving to Florida. I have the income to purchase up a house, have a profession that was in need in Florida, and had been actively thinking about it for the past year. I thought the housing market was overpriced, but so was everywhere. Insurance was what scared me the most. What is that house worth without insurance? In my mind a lot less. How much money would I be willing to piss away? I don't know 150k? 200k? But not 400-500k which was my initial thought. Even at those prices I'm nervous. So, I bought a place in SC by the ocean. Insurance is kind of expensive, but I can afford it. I'm sure many other people are making very similar decisions.

[@JimmyTSicily]

Yes I thought about Myrtle Beach but it's too cold in the winter been in Florida now for 12 years and I just can't see leaving this paradise of a climate, granted we have radical hurricanes and storms but

[@kutatm]

But SC has a high state income tax.

[@Bemmuu-p3m]

@@kutatm For me it's slightly lower than my home state of NC. NC has a flat 4% and SC has a graduated up to 6.4% so It's all about where you're coming from.

[@tman4915]

Of course the hurricanes don’t help matters when you’re trying to get potential buyers, but the real problem is sustainability. The middle class can no longer afford homes anymore. Because inflation, interest rates, insurance premiums and employers not paying livable wages. It’s like that everywhere unfortunately the working classes being out priced out of everything!

[@27blanx]

There’s always a market for snowbirds in Florida!

[@koffee3336]

Good Intel! You sound just like Matt Damon to me.

[@bensellin]

😆😆 thank you. You are not the first to say thay but I dont hear it.