The RENT IS TOO DAMN HIGH!

[@MichaelBordenaro]

Insurance on EVERYTHING is SPIRALING OUT OF CONTROL! kzbin.info/www/bejne/i6nOpmtperOaopI

[@Icutrauma11]

What has to be pointed out was that all these billionaires were able to double and triple their wealth not because they created a new product not because they were being able to create a new industry it was because they assisted to shut down small business & transfer wealth by destruction.

[@commonsense6967]

It's called Marxism, and is the modus operadi of the WEF and Democrat party.

[@katydid2877]

Lots of small businesses never reopened after they were deemed non-essential in 2020, while corporate chains were kept open and made tons, so sure if you have preferential treatment from the government you’ll have an advantage.

[@jeltoninc.8542]

The WEF. Alex Jones has been ranting about this stuff forever. That’s why they’ve tried to take him down. Look up Klaus Schwab, head of the WEF, talking about chipping everyone like animals to buy and sell.

[@RickAP]

They own the politicians and the politicians facilitate the destruction of small business

[@charlesp467]

Not billionaires but government

[@enthused7591]

I live in Brevard County (central east coast) Florida. My homeowner's insurance went up 56% last year in January 2023. Today I got an email, 3 hours ago letting me know my insurance is going up 53% MORE this year. That's an ACTUAL cumulative 138% price increase in 2 years over what I was paying in December of 2022. This is the craziest thing I've ever experienced, and I lived through AND bought/sold a couple homes in 2008-2009. This is exponentially worse than that 2007 bubble. Everyone in Florida is about to get the same email. Our bills are all up 55-140% in a 2-year span. Completely unsustainable.

[@cypherlock01]

Try to get USAA

[@DiFinni]

Yeah, that's just unreal. This can't continue or Florida will lose so many people. I don't blame anyone moving out with the prices getting out of control.

[@missylearned9821]

Do you have a mortgage? I’d be curious to know what percentage of the value of your home the new insurance premium is. I think there are just so many crazy factors at play in Florida where insurance is concerned. At some point, I think a lot of people who own properties outright might simply have to go without insurance.

[@francismarion6400]

Sounds about right in this inflated economy it would cost 100-150% more to repair or rebuild your structure right now.

[@dsj9831]

That is a huge increase in home insurance but on the flip side there are millions of people bragging about how much their home went up in value. Well, since some homes have nearly doubled in value, the replacement cost doubled and up goes the insurance premiums by double. Those on fixed incomes will be the first to sell since they're getting priced out of their home.

[@sierrasky2491]

I'm in my 60 and have been saving my whole life to buy a home and I'm still waiting.

[@gregorylyon1004]

Where exactly are you trying to buy ?? What city ??? Miami

[@jimcrawford3185]

Go to Pearce, AZ

[@cypherlock01]

I wish you had support to buy it. Another person would help.

[@rfink222]

Don't worry, even if you own you still owe taxes on it.

[@RasiRobi]

@@rfink222that’s right 👍

[@nicolasbenson009]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[@riveneva1519]

I used to live in a 1 bedroom 680 sq ft apartment in Ventura county in California. When I first rented the apartment 10 years ago the rent was about $1450/month. When I moved out recently (because of high rent) it had increased to $2550 a month and was still going up. Now I see the same apartment renting for $2200/month. My mom recently passed away and I sold her house for $222k last July. That house has dropped $12k in value since then. Real estate prices seem to be correcting themselves albeit slowly. I’m currently living with a friend and she just got a new job in a southern state. We are in the process of relocating there. Houses and land there are far cheaper than they are here in California. I don’t know if the bottom is going to fall out of the economy in the near future (some say it will), but I do know that housing costs are killing a lot of people financially right now along with the increased cost of everything else. Something’s gotta give. Enjoy your videos!

[@MR..181]

Where did you put the 222,000?

[@riveneva1519]

@@MR..181 it’s in a bank account awaiting the end of probate. Legally I can’t spend a penny of it until then.

[@kingfitted8512]

You are very right Texas Louisiana Mississippi all those houses back south Way more cheaper than California and that’s with Land

[@Joeainthere73]

I'd pay $200 more per month (about 10-12%) to have a private yard, parking under a roof and my own driveway, quiet, outdoor power and hose, and no neighbors 5 feet from my front door or on the other side of the walls. No HOA.

[@bayaholic]

I agree. ☝️

[@Creolekitchenwisdom]

Where u living UPSTATE NY❤

[@cyrusmorales4880]

You do you, but the headboard banging against the other side of my shared wall helps me wake up on time.

[@marknewton6984]

Same here!

[@lisahertel2415]

@@Creolekitchenwisdomsugar, it’s never been cheap in upstate NY😂😂😂😂

[@BroJo420Cafe]

26K just for property tax ? INSANE

[@roland2763]

And if it sells close to asking price that could go to about $40k

[@danielj3010]

That's 6 vacations, please and thank you.

[@JC-nl3nh]

our property tax has been over 10k on my childhood tiny house on a tiny lot in the north east for over a DECADE. my family has been ROBBED by property taxes to educate foreign children filling our schools, where are my reparations???

[@rentslave]

A lot of people pay that in rent.

[@sargepent9815]

The only solution is to pass laws that PROHIBIT out of state groups/people to buy residential property for commercial use. Mega companies buying up all the property to then turn around and renting that property out are WHY rent/home prices are "so damn high"

[@marleezawadzki]

Less state the better. Government is slavery. “Mark passio“

[@sbearly]

Right. Get the government involved. Politicians know how to make everything work better, fairer. Anything government touches, it screws up, while making politicians wealthy.

[@trippypages7309]

Goverments are mediocre. They have the power to do it; the power to create new laws. But, they are more than lazy; they are indiferent. Maybe some of them are good. Rents are too unfair.

[@sbearly]

@TheRealCatof We won't be the first country to vote themselves into submission.

[@sbearly]

@TheRealCatof Excellent response. Like, if you want to be taken care of move in with your mom. We have different views on the role of government. It doesn't mean we don't like our country.

[@leedrowlette2847]

Bought our first house in the winter of ‘78, & I was 22. Will never forget it, our house payment was $361.00, and my wife worried where the money would come from. Another thing memorable was that was the winter of the blizzard. Lord always provided and was so faithful to us. Worked hard for the power company-(44yrs , and we had steady income. PTL!

[@hvaball150]

...and today the new homeowner is wondering which $10 Starbucks coffee to order tomorrow... How far we have come.

[@jaxntax5509]

Some people rent single family homes simply to avoid the common wall issue. There is an old saying, " ... In an apartment you are at the mercy of your neighbors ability and competence...." I am not renting but buying and this was part of my decision process. I have a multi generational home and this works for us because we all talk and work together. I have one son who is a Merchant Marine he is ship side or at school most of the year my other son is disabled. I am the owner of our home and recently my brother joined the house hold he is a long haul trucker also not home most of the time. This household is extended family and multi income but with so many hands we are all able to ensure everything is paid and we are able to save and live in the ways we are most comfortable and safe. I know for most of civilization the extended family living situation has been most common.

[@Gypsygirl9]

Seems like the multi gen home scenaro is making a comeback from the 30s-40s. If it works..sure is better than a bunch of random stranger roommates.

[@MereAYT]

I am in the rent a home to avoid the sensory overload of neighbors group, and I will downsize to an affordable and maintainable tiny home as soon as I have the option.

[@PlasmaBurns]

sadly...estimates show around 50% of western women will die alone and childless by 2035. The average man 18-35 has not had sex in over a year or is a virgin... "Single Family Homes" are going the way of the Phone Booth as no families are being made. "Extended Family" is going extinct.

[@Thisismeofcourse]

@@MereAYT right, how do you feel when you hear your neighbors through the walls?

[@MereAYT]

@@Thisismeofcourse It sucks! I want to be surrounded by trees instead.

[@HeyMsVal]

I have a 3-2-1 rental home. I think I priced it fairly. The current tenants requested a two year lease. No problem. Six months in they wanted to extend it to 3 years to lock in the rate. Again, no problem. I dont want anyone struggling to pay me. Overly priced rent is counter productive and makes for tenants who may hold a grudge and call you for everything.

[@tomswierszczyk]

Be careful, tenants are good until they are not. If your costs will go up (taxes, ins, maintenance etc) and tenants will start "neglecting" your place, you're in trouble. One year lease is the way to go...you may not like your tenant after 6 months ! It's so easy to renew the lease...

[@jimshoe402]

I did same thing on 5 no Hassle I'll be very nice some 10 to 16 years . Smart man u are LOL

[@lauriegriffin1835]

I wish more landlords had a 10th of your wisdom

[@sheasolo8507]

I love that we Americans call ourselves "Home Owners" as soon as we get a bank to buy a house and then take on 3 to 5 times the debt of the house over the majority of our adult life.

[@inwiththenew]

Well, we do it with everything else, so what's the difference? Example, things bought on credit or with loans... vehicles, store credit cards, pay as you go, etc. So why are people b.tching about mortgages when other forms of credit/loans have significantly higher interest rates?

[@Eli-ye4df]

@@inwiththenewbecause it takes your entire life practically to pay it off even with high discipline. Cars and credit cards can be paid off in such a small amount of time in conparison

[@Winterascent]

That was why when I was a "home owner" as you put it, I called myself a mortgager. I had a mortgage, and it was less than rent, and I got more. I was also lucky to sell on the upswing.

[@msingleton]

You’re not the home owner until you own the title. Dave Ramsey is the way.

[@tmdrake]

i hate debt@@inwiththenew

[@annadanbury9276]

Senior disabled widow here...I pay 50% of my income for my studio apartment in Indiana...

[@jimshoe402]

Me too Rough..LOL

[@Jeannified]

Great info on the young people still living at home with their parents. In our neighborhood, all of the kids who have graduated high school are still living st home with their parents and are going to local colleges. It is just so expensive here in San Diego!

[@mohhingman]

Same in Australia. People getting older and older before they can afford a house.

[@well-blazeredman6187]

Too few politicians across the West focus on the average age of the first-time buyer. Could Florida's governor answer that question? Could California's? Could Sunak, Albanese or Trudeau?

[@Bills96TA]

One reason rent is going up is that state and local governments are jacking up the taxes and fees. This is in addition to the crazy increases in insurance and materials to make repairs. Its not all landlord greed (unless you mean gov, ins, contractors etc.)

[@nelcomargaming6612]

Those you don't understand economics use the word greed

[@leedrowlette2847]

Everything is high as hang in Florida, and not sustainable for moderate incomes and budgets anymore.

[@williamshaw8106]

🛫🇲🇽🏖️

[@mattanderson6672]

THE RENT IS TOO DAMNED HIGH!!! Thanks Mitch!!

[@BrightHardDay]

Having a look at the people who have already been through what is coming might help people to wake up as well. There are hundreds and hundreds of seniors and families that have lived in South Florida motels up to two years so far. These are the people who lost what little they had in that engineered crash.

[@gregorylyon1004]

You mean that 2008 financial Ponzi scheme??? That was the beginning of the downfall of America. We never recovered as a nation. And we never will

[@brucebell1090]

Hi Mike, my wife and I look forward towards your video every night. We feel so fortunate that we own outright our relatively new home (2017). I built my last two homes, so I saved a ton of money on labor. We live in Florida now, from Maine. We can't even fathom the house payments with escrow being paid every month. That along with a double car payment. My first home mortgage(the only mortgage I ever had) was a whopping $530 a month, that included property tax and home insurance. How things have changed.

[@may86bear]

Rental houses in our neighborhood ( Kissimmee, FL.) are emptying out and some have multiple tenants living in one house 😮

[@cypherlock01]

My brother moved from his rental home in Orlando (lived there for a decade until the owner sold it for nearly 3x its true value last year) to a rental home in Kissimmee.

[@Gmac_Greg_M]

Rent will still go up in South Florida. Dade/Broward/ and south half of Palm beach is already fully developed and not much more supply can fit while the population in these places are still rapidly growing. Not to mention the increase in insurance costs for the owners.

[@nickc3856]

Michael's channel is the only one I watch every video of

[@ZZstaff]

I hope grown "kids" living off of mom and dad SAVE their money. Questionable.

[@idalmycastro5323]

Agree with you kids living with their parents is difficult because they spend more money in vacations, clothes etc etc plus something time they don't want to respect the parents rules and another situation is that in most the cases parents are no rich and need the kid help with the rent, utilities, food so I think that is not a good idea in most cases.

[@justinallport9789]

Mom, Dad and Kids, may all end up Homeless "

[@hillyseattlenarrowstreets6087]

Parents charge rent, deduct expenses and place remainder in a Separate "Move Out" bank account. No guarantee if the Kid was saving money, it would be spent wisely. More importantly - if there's Drama in the family - there's money saved for Rent and Security Deposit. You can kick them out with no guilt. Living "Rent Free" leads to an Irresponsible Lifestyle.

[@candelariaw1668]

agree. How do you live with your parents free. You not paying nothing is so irresponsible. They shouldn’t have to cover you unless you’re in school. If you’re grown and living with them and working at least pay a bill.

[@benjaminwlang]

Not all "kids" live off their parents. My parents lived off of me.

[@lindaadams1008]

I look at life from a different perspective today... Money is hard earned, and I spend it wisely... There's no one I want to impress at all...😅

[@enthused7591]

Bingo, I take that sentiment to the extremes. Luckily I'm single so I'm likely going to sell my home here in east coast FL and go live in a camper with $300k in the bank. This has gotten wildly out of control. Everyone's broke, I know the housing market is going to collapse many times worse than 2008.

[@BangMaster96]

@@enthused7591 When do you think the collapse will begin?

[@francoisl7663]

What I don't understand is a lot of people claim they want affordable housing and push for high density (near downtown's in CA) but will only accept living in SFH, not an apartment. Many families all around the world live in apartments, myself included when I grew up.

[@Kristen289]

Because SFH used to only cost 3-4 times the median income in the 70’s. Now they are 8-9 times. People SHOULD be able to afford a SFH

[@francoisl7663]

Well that's not going to happen in certain areas like southern California. You can buy a 200k house in middle of nowhere and it will be less than 3x4 time median income. In populated areas if you vote and push for "more housing" it has to come in apartment style because you can't create more square footage without going up. So I don't know why the same people that vote for more housing don't move into an apartment...@@Kristen289

[@clickpro2334]

Good video. I remember in the 80's I would ride my bicycle around and see someone that had a 120k house i was must be nice to be rich, now im 47 and look back at the rich. And far as im concerned good luck people. Hey guys now days just go get enough and stay under the radar, its alot of to spend big bucks. Buffet,Bezos,gates, etc they can have it. Now what that does when just a few have a bunch of$ they dont know how to spend it or spread it, this is why we have homeless people everywhere. I do good for myself now days grew up poor, now I own 10 homes all paid for, heck look up dolly partons story she was poor also now shes awesome and spreads her wealth like a champ to help people have a good time. Heck I can spend 120k now days and not look back for breakfast took me alot of work over the yrs. Good luck people go have fun!!

[@Feedergang]

There’s plenty of Californians who are spending half their take home some even more on rent alone

[@gregorylyon1004]

Welcome to California. Lol. And people wonder why I have never been there

[@Richard-xv7yf]

Same thing in Florida. They raised my rent buy $400 last year and another $200 this year. When a asked why so much at once the simply told me that's what everyone else was charging

[@Bamapride1985]

Same here in Alabama. Rent compared to avg income is around 40-50% but people are exaggerating their income on application bc of the 3x income to rent to even qualify.

[@gregorylyon1004]

@@Richard-xv7yf It's all greed

[@sssyria]

I rented out my house for 700$ 750 square foot..that family is happy I know they will take care of that house because they can’t rent anything similar for less than 1200$

[@mariatennyson429]

I used to rent for way under market value, thinking the same as you. Hate to say it ,but I wad wrong. Now my rents are under market value, but not by much.

[@sssyria]

@@mariatennyson429 i don’t care really. I paid 30k all in for that house after putting new floors, kitchen and new paint. Bought it at a sheriff auction 9k for it

[@danettewelborn5577]

Renters don't take care of property, not even if they owned

[@sergiolandz6056]

@@danettewelborn5577 Not true, i am a excelent tennant and treat my place like i own it. I live in a house thats split in 2 appartments and i even cut the grass and shovel the yard for free. Yet my landlord cant seem to give me a break with the increase and she has yet to put a single penny on this crack shack in the making. No vapor barrier on the plugs i cant even use during winter because the air comes in like crazy and i dont want to have a fire on my hands, so its a safety issue at the same time but theres no regulations for them so it is what it is.. were actively looking for a house but immigrants are coming in by the 100's of thousand so its hard to get something decent

[@nmm913]

Wow you are very kind. I'm renting a condo 950 Sq feet for $1490 in arizona and that is considered a good deal. My last place that was only 75 Sq feet bigger was raised to $1800 so I was forced to move

[@BangMaster96]

The Gas, Groceries, and Utilities are also too damn high. How the hell are People working a minimum wage Job surviving in this Economy?

[@francismarion6400]

Those are teenagers jobs and that's all Democrats want them to have.

[@hvaball150]

Ask that question 30 years ago... And you would get your answer today. Just believing minimum wage is surviving wage is the problem.

[@cleo6205]

Shoppers appeared to be more cautious at a large discount store today.

[@JW-kx3bf]

I sold my home for $1.3M seven months ago. I found a home in TX listed for $850K or lease for $4k. If I had purchased the house which has ridiculous property taxes and horrible insurance premiums my calculation was $7500 a month payment plus repairs…. And the house has a lot of deferred maintenance that as a renter I don’t have to pay for. I am easily ahead $4-5K a month on the rent deal. Yes, the landscaping sucks, the kitchen needs to be ripped out but I can live with it for a year or two….. My point is that rent is a way better deal for me that buying right now……. And the next house I am moving down to something less nice that I pay for with cash and I will self insure. Insurance is crazy……. Unless rents fall more…. And if they do I will lock in a low lease payment for 2-3 years.

[@JohnDoe-np3zk]

You actually have more ownership of your time and now money by renting.

[@lisahertel2415]

True, but that’s until they decide to sell, or not rent anymore for whatever reason. The problem with renting is the insecurity. I’m a renter, again, 13 years now. Won’t be able to afford to buy another home again. Even with a place paid off, you never really own because of taxes

[@zacksweden519]

I truly hope you are right. Rent has gone up 15% per year every year for 3 years straight. If rent stops going up, I can deal with just about anything else.

[@Creolekitchenwisdom]

The rent is damn high!!! FOR REAL,SOON IT WILL BE THE MORTGAGE TO HIGH"❤😮. LOVE YOUR SHOW. HAPPY BLESSED NEW YEAR 2024

[@GPG0000]

Mike, we have our lease renewing in March and yes the rent is up. Inventory in our target area (Sacramento suburbs) is still tight and only new builds seem to be available (with contracts biased in favor of the builder). We are slowly giving up hope of ever becoming home owners as we are looking for single story homes on a large lot, so good luck with that. Anyway, just feeling negative & discouraged. Somehow California doesn't seem to be going down with the rest of the nation and it's business as usual here (with prices continuing to defy gravity).

[@BREEZYM6015]

I was already putting close to 50% of my monthly income into renting before I purchased a towhome about four months ago so why continue renting? I'm paying about the same owning as I was when I was renting plus I don't have to deal with a landlord. I don't see why buying is looked down upon as much as it is.

[@bogdan78pop]

Depends on the location.... you buy a 2 flat in Chicago , in my neighborhood ( $ 650,000 ), you will pay around $5,900 a month with all included( mortgage , property tax, insurance, water, sewer, and garbage collection ) except gas and electric........So you live in one apartment and rent the other , but the rent you can get is around $1800 -1900....so the renter gets to pay $1,900 for the same apartment that you will have to pay $4,000 ( 5,900-1,900= 4,000) and are responsible for the maintaining and repairing of the building

[@jimcrawford3185]

Not a bad deal if taxes reasonable and no HOA and monthly fee

[@johna5484]

@@bogdan78popbut the buyers money is going towards equity. Can probably sell for double in another 5 years.

[@francismarion6400]

you didn't buy at the extreme high. You might be alright.

[@bogdan78pop]

@@johna5484 No ....not really .......you see , the last time this building was worth 650 K .....was in 2007 .....so no equity whatsoever in the past 16 years....!!!

[@thejohnnycway2b]

There's literally 15 apartment complexes under construction in Fort Myers right now it's insane!

[@TomokoAbe_]

Medical bills even with insurance (and I have a "gold" plan), is too damn high. I just got a bill for 2023 for $5,000 for cancer treatments. Without insurance it would have been like $750,000. At least own my own home, paid off. I can't imagine paying over a thousand a month just for the rent! So your piece brought me some comfort that things could be far, far worse.

[@MrsRight2020]

California is giving all free healthcare to immigrants. Maybe we should throw away our passports in order to live better

[@MACD69]

I had a medical issue that put me 10,000$ in debt with insurance

[@TomokoAbe_]

@@MACD69 They say technology is the #1 cause of medical expenses and insurance going higher. Yet people still suffer and die. Cancer, for example, remains the second leading cause of death in the world and Alzhiemer's disease is still epidemic and leading dementia--because people are living longer.

[@fredk9999]

Thank you to our host for taking us along on this educational tour. Always learn a lot

[@yanetcortes2437]

we are moving this year to Dallas Tx, we went recently to check the suburbs , they have beautiful areas with new apartments, condos etc with 6 weeks free of rent!!!!!! giving only $500 deposit and lot of incentives, lot of luxury condos, here we live in south FL paying $ 2,750 for 1 bedroom apart !!!! Miami is getting worse everyday, we lived in CA, Vegas, and as a travel nurse i have been in different states, so we decided Texas!! we loved it they are paying more money to nurses , here in fl we are underpaid, well salaries in FL are very low, so bye bye fl!! we love the beach but living here is getting extremely expensive, better quality of life in other states

[@mariambintsaid3814]

Hello which part of South Florida? Looking to move towards Homestead/Redlands

[@idnotapplicable]

Been living with my parents for the last 2.5 years. I don't pay rent, but I definitely help out around the house and watch the place when they go out of town. It also makes the house more valuable since all of the rooms are filled. If you have the option, even if you don't like your parents 100% of time, it is worth it. Getting close to a 20% down payment now for a house because I've stuck to living at home.

[@cypherlock01]

I did it - and I love my parents 😂❤

[@stevenshorten6184]

Lol you're adding "value" to the house but not paying anything? 😂

[@idnotapplicable]

@@stevenshorten6184 Having more rooms full than empty makes the house worth more on a personal level. Sorry you can't see that lol.

[@BangMaster96]

@idnotapplicable Why do Americans have a problem with living with their Parents? As long as you're working, sharing some of the expenses, and helping around the House, what's wrong with living with your Parents? Go to Middle East or Asia, living with your Parents is the norm in those cultures. The children grow up, go to college, get a job, even get married, and they stay in the same House as their Parents'. And the benefit of that is both the Parents and the Children save a lot of Money by splitting the expenses. Only in America there is some taboo if someone chooses to live with his/her Parents.

[@DiFinni]

You do what you got to do. Good job.

[@guzmancharles7]

Washington Politicians should pass legislation, to eliminate Property taxes on seniors (over 65). That will help a lot.

[@rd8370]

But then they’ll just raise it on ones under 65.

[@silverforme1487]

3 of our young adults live with us. Sons work full time, pay $400 in rent. Daughter in college, no rent charge as long as she pays cash for college.

[@hardshell9236]

Only in America kids pay for their college🤣🤣🤣 it’s your duty to pay for their college, they did ask you to bring them into this world to pay for their own college so that they can get a job.

[@Goorood]

@@hardshell9236 In most civilized countries governments have free college education for children, so young people can become valuable citizens in a society. In America education is yet another business to make money. No need for smart and educated citizens, the dumbed the masses the better for government - its much easier to control. 😉

[@Kuulei265]

I saw three (3) videos posted regarding the insurance issue. The people who are suffering are those on fixed incomes. One person said they went from $8,000 a year to over $10,000. This affected everyone who was part of the HOA. They have to think about moving at a time when they never thought they would have to move. Another issue is finding a person who will be willing to pay that price.

[@oscalsochirino8706]

This hasn’t hit yet in Miami wait till the hoa adjust for insurance hikes and 40 year new law for condos no more passing the bill to fix issues assessments galore all on corrupt city greedy Cubans etc just wait it’s coming

[@inwiththenew]

What people forget is that those HOAs are paying increased costs on taxes, insurance and repairs. Those costs don't vanish just because you own a home independently. My homeowners insurance increased 80%. No claims or anything... in fact I even replaced my roof and entire plumbing system. All of those expenses came out of my own pocket. I didn't have an HOA to help spread the costs among other people. My point is that with an HOA vs non-HOA, either you share the costs as a group, or you go it alone.

[@Kuulei265]

@@inwiththenew Thank you for those thoughts. It really is getting scary out there.

[@MR..181]

Could not be rid of hoa even when they had contract date of expiration. And not like Great Northern Iron trust of the messabi range expiration date after 100 years 23 years back ..but? Rumored bpt British Petro trust that ignored its contracted expiration date? On oil lands...???? Suppose courts could argue the definition of pay as Associatives "pay" as its "service like iron mines paid selling iron or then BP pays? Selling oil?

[@MR..181]

Pay..standing in the way of public street maintaining? Ect..???

[@my_humble_opinion4019]

Michael, thanks for all of the great information! I grew up in Florida, currently live in intown Atlanta and (was) looking to relocate to Florida to be closer to family…then I crunched the numbers with the current interest rates, FL county taxes, and FL insurance…the payment and escrow would be $1200 higher a month in Florida than Atlanta for the same sized house (3/2) with a hypothetical loan that is the same as the current loan balance on my Atlanta home. I have a 3% fixed interest rate on my Atlanta bungalow…the Florida rate would be 6.35%. My Florida homeowners insurance would be $6500/year with a $8900 deductible…my Atlanta home insurance is around $2000/year. I think I’ll continue to visit regularly and appreciate what I have in Atlanta.

[@georgedreher2322]

I bought my Tampa suburbia pool home in 97 with cash. Been looking in upstate SC, near Blue Ridge Mountain area, for another home. Can't do it! Prices for all homes, even if new, are way overpriced. Wife & I have decided to just "hunker down" during this over-priced housing period. Prices on homes/raw land are selling for over 2x what they are worth.

[@Gunner53-OK]

My boys have both graduated from college and live at home, because rents are so frickin' high......and they are putting money away or investing it, but not in real estate.

[@KingFergus]

In some places people are paying %65 of their income for rent/mortgage

[@cypherlock01]

Yes, Tampa, St Pete, etc

[@edpatterson3789]

I should run for governor! I would pass laws 1 you can't buy a house in Florida unless you have been a resident for at least two years and 2 you can't own rental property unless you have been and continue to be a resident of Florida for 5 yrs.! I'd have to get bullet-proof suits with bullet-proof underwear (just In case) cause they'd be out to SHOOT my ass!!😅😅😅

[@mingazzini]

And higher taxes on secondary homes and rentals. And a tax for vacant STRs.

[@MrFalcman]

I just had to renew my rental agreement and I was paying $1,900 a month. To renew I had a few options... I could sign for another 12 months at $2,346 or I could sign for 13 months at $1,950 per month. I found that interesting that I save almost $400 per month by extending my lease for 30 extra days. Is this something that you are starting to see in the rental market? It was a no brainer for me to sign the 13 month lease.

[@currypablo]

As a landlord, I want good long-term tenants who pay on time, maintain my property, and wish stay for a longer period. If your landlord wants to charge you a higher rent than your previous lease, they may want you gone or just can't make ends meet. In my experience, highest rent isn't always your best rent. Equity is where wealth is built in real estate. After 5 years most landlords make great cash flow.

[@BangMaster96]

You just got bamboozled into paying extra $50 per month

[@marilynh5487]

Scams

[@lovethemflowers]

@MrFalcmam -I’ve seen renewal offers like that, but then the rent went higher if you had a longer lease, like 16 or 17 months. Those were rents on a brand new community they’re building near me. These new places with so many amenities are costing no less than $2,300 a month for a o e bedroom. don’t know how anyone affords them. Couples have to have two very good incomes to make it work. It would be scary to rely on roommates living together to afford a two or three bedroom place. They have to be very dependable and pull their weight to live in a nice community with all those perks.

[@lovethemflowers]

Oops, sorry about the misspelling, MrFalcman.

[@flyingjeff1984]

The problem with rental units (especially with the large landlords) is the upfront incentive is nice---but then comes year two and beyond.

[@jackkrom]

They sucker you in. That's America.

[@jamisonbernhardt3310]

The cost of maintenance on a home is incredibly expensive. If you can save while renting theatrically nothing should increase cost wise unless you choose to increase your bill load. If you are at a surplus you will save while renting. your finances are on the line when dealing with home repair running a mortgage you must be intelligent. If renting or being poor in general work at least 50 hours a week minimum to try and keep ahead. Thats wat i do. I do not do risky things in life while focusing on saving cash :)

[@IesKorpershoek]

Until last year I rented a condo, 1 bedroom, in Fort Lauderdale. It's located on the Intercoastal and eighty yards from the Ocean. I started paying $1800 / month about 10 years ago. Until last year the rent was raised to $4200 / month. The biggest problem is that many other owners in the building are using their condo(s) as vacation rentals. Some owners even ask $ 5500 / month. I'm sure many of the owners will sell their condos very soon. The building is > 40 years old. Insurance was raised by 300%. A new 40-year recertification resulted in about $ 35.000 per owner for needed repairs. The sewage pipes need to be replaced because they are completely corroded and need to be replaced or relined. My wife and I are now living in the Netherlands and looking to move to France.

[@roland2763]

Was that recertification the new law for bldgs 3+ stories as a result of the Surfside collapse?

[@IesKorpershoek]

@@roland2763 This was a year ago so I'm not sure. The building has 6 stories. They are within those rules. I think it had more to do with the insurance. They had to find a new insurance company; I moved out just when all this started. The financial burden is getting too much for many of the owners. Except for the insurance and sewage, In the last 5 years, the gallery floors had to be replaced because of concrete rot, and the parking was repaved.

[@bradc1263]

Anyone struggling financially…which is likely over half our population…would be smart to cohabitate as much as possible to cut their housing expenses. If businesses are not going to pay people livable wages, then people need to fight back by refusing to pay the overinflated housing and rent prices, until they come down to a level that is supported by incomes. Residential housing is the largest ticket item that is sucking the blood out of the economy. If residential real estate was not allowed to be used as an investment tool, prices would be in line with incomes, people wouldn’t be screaming for raises, inflation would be under control, the American Dream would still exist, birth rates would be going up instead of down, marriages would be increasing instead of decreasing, more people would be having sex, Aquaman would be breaking records at the box office instead of bringing mediocre returns, people would be happier and less stressed, retail theft would drop and stores wouldn’t be locking up products…I could go on and on….the domino effect of allowing people and investors to hoard homes has wrecked our economy and society. It has to come to an end for us to save our society and economy.

[@ty6099lle]

Amen. Agreed. You are a smart guy. I would subscribe to your KZbin channel if you start one.

[@PlasmaBurns]

I dont think the Domestic Enemies running the asylum will be working towards that goal. "You have the Right to pursue happiness, not the right to obtain it!" - The United States of Israel.

[@danielvalerio9703]

Love it you understand the little hats run the show@@PlasmaBurns

[@PlasmaBurns]

@@danielvalerio9703 sadly...yes.. If you would like to see the Israeli Defense Forces, Anti Defamation League, FBI, DHS, US Army, Navy and Air Force - all busted on camera working together to stage fake terror on Americans - I can show you as I have spent the last 10 years exposing it.. Reality isnt what it used to be.

[@inwiththenew]

Well people do it to themselves as well by having $700+/month auto loans, overextend their credit cards, take out high student loans, etc. There are other facets draining people's income

[@StarATL]

There is no denying that all those millions crossing into the US now are living somewhere, which in turn displaces available housing for others, which is not helping availability right now.

[@georgedreher2322]

Biden's open border policy is ruining a lot of cities. You haven't seen anything yet!

[@BangMaster96]

Majority of the illegal immigrants usually live in low income neighborhoods, and they probably have two to three families sharing a single Housing unit. It's crazy the things Human Beings are willing to do to achieve the 'good life'.

[@leslovesdogs-o6e]

Yes, hundreds of thousands of homes nationwide.they live somewhere

[@francismarion6400]

​@BangMaster96 I think his sarcasm went over you but yes they are still displacing people.

[@KikoValleyMan]

You mean like Colony Ridge?

[@ericaknesek3266]

I agree I live in a very expensive development and some of the most inexpensive homes you can tell more than one family lives there when you have six cars in the driveway to which around the grass in South Carolina you know things are expensive. I think it’s military people sharing a home.

[@donnab8055]

I’m in Nashville. Yes they are building a lot but mostly in the areas us natives can’t afford. East Nashville, downtown area, Spring Hill area. The rents there are like 1500 and up for one bedrooms. The cheapest rent I could find it 1259 for 725 sq ft one bed apartment in a slightly ok area. They start shooting and breaking into cars every now and again. Don’t forget to add on all the extra expenses the rental complex adds to the base rent too. I make 22.00 an hour and I’m still struggling. I live way under my means too. Everything is too damn high. Lol 😂

[@Dainja]

I'm a Capitalist who sees nothing wrong with engaging in business to earn profits. However, there is a moral and ethical component to business that I believe too many Capitalists are forgetting or ignoring. Just because you can charge more doesn't necessarily mean that you should charge more. Make your profits, but don't gouge the people.

[@LumberjackLandlord]

All my rents rose in 2023 on over 100 units. There is no rent I have that went down and I had waiting lists for all my units. As I have said for 2 years... rents will only go down in class A. I specialize in B and C areas. All those rents are up.... even the government hiked section 8 over 10 percent. So keep waiting for them to fall. In most rentals they won't. In New A class they will eventually. Many A class renters will trade down to b and C class when the market shifts. We aren't even at market rent in some units but they all still went up. That's fact nit charts feeling or belief. The A class rents adjusting is where all the discounting is coming from.

[@joshuathomas4934]

The demand is too damn high. That’s the issue. Air b n b took so many long term units off the market for short term rentals.

[@AceAlaska]

Alaska is usually the exception to most of the issues addressed on this channel but still always cool when we get mentioned 😂. We are usually a few years behind the rest of the country when it comes to being impacted by the fed.

[@pia9343]

Jack Morgan RLP is giving you a shout out frequently! His content is great as well.

[@philalethistry7937]

Good video Michael, but I would like to correct you on one thing. The young people these days who are living with their parents to save money, many of them do not have a choice as they cannot afford rent in their area at all. The goal is to save money, sure, but many of them would rather be living in their own place. This is not due to this new generation's laziness - and there are more problematic factors involved, such as college debt and the job market. I say this not as a college-age kid myself, but as someone who works with them.

[@JohnTaylor-ts8wk]

Lots of people are staying with parents with no plans to buy their own house. It allows you to live in a nice place, invest a decent amount in a 401k, and have a bit of spending cash. You can even throw some at the stock market and hope it adds up to something - often with options trading, junior mining stocks, pot stocks, crypto coins, or whatever gives you a chance for a big win.

[@cypherlock01]

Hopefully you are also paying your parents or supporting them (financially?) in some way.

[@RealLifeFinance]

15:30 Houses Double in last 10yrs. Out West we have a near Tripling in price in last 10yrs!!! $150k houses now $450k. Wages are up maybe 30% in that time.

[@redtiger7268]

Another aspect of the older 1st time home buyer metrics is family formation. The average age of first time marriage is 30 for males 28 for females. Some will argue that this is a good thing, however in terms of children it is not. If a woman has no prior children she is now getting to the point where without medical assistance she cannot have children and than once past 35 the probability of having a child with a genetic disorder is heightened. If people choose to have children without being marriage there is a direct correlation with higher degrees of life long poverty. My point is that because of everything being pushed back later and later the government and central bankers have essentially sent America on a death spiral.

[@JC.LC.]

Wages in Miami vs. the cost of a home or rent is probably one of the worst ones in the nation.

[@hvaball150]

Renters are always in a better financial positon than RECENT homebuyers, Michael. Thats the way it works. Come back in 20 years and re-evaluate.

[@RobertHamilton-u4m]

Hi Mike my name is Robert, and I live in Arizona, rents are sky high here, my rent takes about 66% of my income, and I am on a fixed income.

[@nikigarza2442]

We have one rental...the repairs, the insurance, the taxes... hard time finding someone who qualifies... barely making any income... has been a lot of work and headache... nothing that hasn't been said but it is all very hard. Trying to tease the relevant factors out...definitely feels like an attack on the middle class.

[@judyfabion8849]

I've been looking at the houses in some areas of Florida. The flipping prices are insane in the last couple of years. House bought then sold for double in a year or two. That same house then listed for double again. This needs to end and the prices need to fall back to reasonable increases if no substantial improvements are done to a property.

[@13ChroniclesOfDagger]

Bernie Sanders voter 🗳 ???

[@jackkrom]

True. It will end -- when people stop buying. Which is probably around now.

[@michelledelfrate1014]

American greed at its finest!

[@jackkrom]

I can't say I have a great deal of fondness for landlords. That's the nicest way I can say it.

[@JohnAppleseed-cy1rd]

Specially if they wear goldenstarsssin there hairy chesstss

[@erikbusenbark4865]

It will continue. Nothing is getting better. What changes have been made to correct it? None. They are continuing the same policies, and even expanding them. The momentum is only increasing!!!

[@bigmoneybenjamin9477]

the rent is too damn high he right. I see rent cuts in Pennsylvania by 25 percent and it's still too high.

[@carriebishop8568]

Hi Michael, I told my daughter to subscribe to your channel because it's so informative. So she did and she said mom Michael was right this flood insurance where I live in Sarasota is over the top now. Just the flood insurance alone not including the regular insurance was two years ago was $2500 last year was up to $3500 this year oh my gosh, she said mom I don't know what I'm gonna do it is now $10,900 just for the flood insurance and I have a $10,000 deductible because the flood insurance would've been double the $2500 back then. But finding out she talked to her home insurance company and he said that they could probably get it out $4000 or so but it's only if the mortgage company excepts the policy which we're not sure they will. And now with the homeowners taxes that are going up with the regular home owners insurance then you top it off with the flood insurance she's really scared she don't want to lose the home with her husband and two year-old child.

[@coled5090]

My friend has a very nice 3/2 home that they built in 2018 for $200k. I thought they had the steal of a lifetime. They just bought another 4/3 two story home for $450k. I was very surprised, they had a baby last year but I can’t see them having outgrown that house already. And here I am can’t afford anything. lol

[@pubabolu]

Michael! What’s your solution for run down dumps if an investor like myself doesn’t buy with cash, renovate & turn them into rental properties?? Very often, they’re not eligible for financing as the seller is not financially able to make major repairs such as replacing a roof, re-plumbing etc. These run down properties sit vacant, deteriorate further with time & decrease the property value of entire neighborhoods. Then when another elderly owner dies, the cycle repeats when their heirs can’t sell. Seriously, what’s your solution? Not all investors are bad or raise rent annually. I’d much rather have a long-term tenant stay in one of my homes for 10 years paying below fair market value than a new tenant every year paying top dollar. Maybe that’s why I’ve never had to evict anyone in 30 years.

[@idalmycastro5323]

These times, I believe we need to be smart, and if we ok where we live now, it is better to wait y see what is going to happen, specifically this 2024.

[@martingainty9623]

Very few and far between for new apt buildings In my city rehabs were completed at a pace of once per month Considering most of these units were duplexes that amts to only 24 total apt units I live in a de mocrat run brpken down mill city in Northern MA Getting Builfing Permits here is massively difficult So what Bordenaro is saying is true in Fl,GA,TN and Texas This is NOT the case here in New England

[@christopheraquino4711]

How can you walk to get your steps and eloquent with financial education, I listen to you, you explain good and clear, others have irritating way of talking explaining.

[@mr_num_numz]

My biggest monthly expense is childcare. It’s $200 more than my mortgage.

[@charlessheppard1292]

I was thinking that the rent in Florida would go up; due to insurance and tax premiums of the property owners.

[@ihave35cents95]

It most certainly will

[@dsj9831]

The rentals are still way overpriced and a lot are dropping their prices and still cant seem to find a renter. This will cause a sell off, more inventory and lower prices. You can't get blood from a stone!!!

[@Gmac_Greg_M]

It will in South Florida for sure. Can’t really build any more homes there and the population is continuing to grow.

[@Gmac_Greg_M]

@@dsj9831That is not the case in SE Florida.

[@Dohair879]

To rent a 2/2 with a 1 car garage in my SE Florida complex today it’s $3200 it’s went up $200 in 2022 and $200 more in 2023. It’s almost the same as buying right now if you have 30-40% down. Except when something breaks I don’t have to pay.

[@rodgangloff8540]

I lived and worked in Florida. In 1959 we had Coconut trees on the beaches. In 1975 we had live music and great clubs. In 1980 we had tourist and lines. 1985 we had crime and non citizens. In 1995 we got Republican racists. In 2000 we got a police state. 2007 was bank fraud and foreclosures. In 2015 we got foreigner investing and housing boom. In 2019 we got the CoVi. And 2021 we got crazy greed, shootings, and global warming. So in 2024 it's part time visiting world elite. I have my memories, and am the lucky one.

[@TonyM-zi9rq]

When I first moved to FL in 2019 I had a 3br apt for $1450 in Dunedin, now its a 2br for $2175... I cant wait for the crash, if it doesn't happen I may move back up north where you can get a 2br for ALOT less.

[@cypherlock01]

It has to come down - that’s a mortgage right now. Wow!

[@TonyM-zi9rq]

@@cypherlock01 $1450 was more than my mortgage when I lived up north. I moved here because I didn't like the cold. It's def getting unaffordable, I'm close to the breaking point.

[@jaguar4271]

Oh it is very unfair with regards to the transfer of wealth up to the 1% and why? Because it is a plan, it has been a plan and they "invest" on insider trading like information, not really hard to see all at the top of the digital prison that's already built and AI will put the final touches to, also planned out to the most microscopic detail.

[@davidrichardson1849]

I think you have the most useful information in the finance/real estate youtube space at the moment. Thank you for the content and keep up the good work!

[@joesmith3590]

Yep he has only been wrong 100% of the time. lol.

[@davidrichardson1849]

@@joesmith3590 if you think that then why waste 15-20 minutes of your life every few days watching the vids and commenting? Genuinely curious

[@joesmith3590]

@@davidrichardson1849 nothing is funnier to me then watching people get praised who have always been wrong. lol.

[@Main1Event]

Whats really interesting Micheal is that on many Real Estate videos, I keep hearing the same thing. Sure prices may fall, but if you hold it for 5 to 10 years the prices will just keep going up because they always have. I mean they arent wrong up until now but thats because most people have not experienced 70's style inflation. They dont know what its like to have a cash crunch.

[@teresamartinez8629]

Hi Michael I’m exactly in one of the situations you mentioned. I’m 40 live with my parents and saving to buy a house. In Central Valley California. Renting on my own at my current income is not possible, just saving and working on growing my income so I may be able to buy. The prices and rates going down will help expedite that but for now just saving for the right time.

[@eddiethealien]

37 yrs old here and I feel like I am maybe half way to saving what is needed to have a half decent home. This is a serious problem in America, where kids are growing up to hit their 40s now and are struggling like teenagers to get by. This is a sick culture and it's a good thing that the birth rate, marriage is plummeting...people who are capable of having kids cannot afford to keep their genetic lineage continuing, don't see reason for family when they can't take care of their own health and wellness. I can't be the only person to feel like they run backwards and still owe someone for getting nothing in return for a happy life.

[@markfcoble]

"Money" is being devalued each day. The fiat currency collapse continues. Not the first time in history so the lessons are there. Unsustainable is correct....still going corrupt since 1971! Eventually a debt wipe out will happen. We now owe over thirty trillion? I avoided rent whenever possible too. Apartments are going up all over! Open air prisons.

[@SuperFez87]

Random thought. Might kill the vibe. But the migration problem won't help your rental prices

[@rd8370]

It will undoubtedly cause tax increases.

[@haldriver1378]

I own my house outright. Paid for. But, let me make this as clear as I possibly can... THE RENT IS TOO PHUCKING HIGH.

[@gregorylyon1004]

I have a friend in Florida that pays 2400 a month for rent. Lol

[@benton-benton]

Yep. Because you're renting from the county/state. Property tax.

[@WeekendsOutsideFL]

@@benton-bentonand they’ve been jacking that shit up beyond affordability

[@deandevirgilio3068]

Arizona still has high rents which is ridiculous

[@s99614]

The rent is too damn high!

[@HeyMsVal]

Found you😂😂😂👍🏾👍🏾👍🏾

[@bradleypollack5658]

They’ve been saying that for years that it’s going to go down it hasn’t went down at all

[@jasoncrandall73]

Florida is allowing those press wood/wood multi floored apartment complexes that take 3 to 4 months to build going up everywhere.

[@MR..181]

Somebody sold the front yard of that picture opening? To RE Trust?

[@Thisismeofcourse]

Exactly. Biden needs to go!!

[@ybe87]

Yeah IDK man. 36 is still mid 30s so isn't all that old. If you were in your mid 20s less than 10 years ago you're still pretty young, regardless of the grey.

[@evananglim3683]

Disability claims are higher than ever and increased at a 7 sigma. Blackswan. I wonder why?...So I do believe people are taking care of others in high numbers.

[@jblaze114]

I'm in Florida and I changed my homeowners insurance last year, I just got my escrow statement with a check for $1,000 and $300 off my mortgage payment every month

[@enthused7591]

Which company? I just got an email saying that my insurance is going up over 50% for the 2nd straight year, up 138% cumulatively in 2 years.

[@cypherlock01]

Wish they’d send me a check!

[@jblaze114]

@@enthused7591 kin insurance

[@SirCarlosMusicBMI]

Hey Michael 👋🏼 You know that you are CRUSHING IT on KZbin 👏👏👏❗️I said that you would get to 150K Subscribers in 6 Months.. But WOW 😮❗️ANOTHER Thousand Subscribers in Just a couple weeks????? Im so happy to see your channel grow so fast 👏👏. You always bring us the latest information regarding Real Estate and all things financial. Just happy to see you doing well. Blessings, Carlos ✝️🙏❤️😊🇺🇸