These Housing Market Predictions ARE A COMPLETE JOKE!

Recently Goldman Sachs and Zillow released new housing market predictions for the rest of 2023 and let me tell you, they are a complete joke! Both of them are saying we will end this year with home prices being up year over year, even though right now, we are down year over year, during the busy home buying season.
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[@MichaelBordenaro]

FED Issues NEW WARNING: SURGE In Credit Application REJECTIONS kzbin.info/www/bejne/joXIemqtqtqspdk

[@charliesargent6225]

Little buddy Powell already spewing propaganda yesterday that a recession is probably off the table. Same guy that said inflation is transitory, what are your thoughts? If you want to see Beverly Hills you need not go far, come up to Winter Park, many neighborhoods here that look exactly alike those in your video and you're just 15 miles from all the theme parks.

[@firetravellers5271]

Here is the problem. If the mortgages continue to go up because of insurance and taxes. (Which they are in Fl) rent will also have to go up. If that house gets rented out where the mortgage is now $3100 rent will have to be as much.

[@jamesbond007colt45]

Got denied with good credit 😪

[@Rochelletrem]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[@jeffery_Automotive]

I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!

[@theresahv]

Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.

[@berkrix4312]

@@theresahvI need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?

[@theresahv]

My advisor is Julie Anne Hoover , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@berkrix4312]

@@theresahv Thank you very much. Curious, I read over her profile on her website, and she seemed to be competent. This is very appreciated.

[@free_at_last8141]

This economy has made no sense to me since 2008.

[@rubicon3416]

It's easy. Massive debt year after year to keep the circus going.

[@Striker50_]

*1971

[@drake_leo2152]

Since 1913

[@francismarion6400]

They should have let it bust!

[@dangarcia6760]

@@Striker50_dollar no longer backed by gold?

[@bsetdays6784]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@africanboi4542]

A lot of folks have been going on about a January rally and said stocks that would be experiencing significant growth these festive season, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?

[@cloudyblaze7916]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 3 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@selenajack2036]

@@cloudyblaze7916 True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?

[@cloudyblaze7916]

@@selenajack2036 Having a counselor is essential for portfolio diversification. My advisor is Eleanor Annette Eckhaus who is easily searchable and has extensive knowledge of the financial markets.

[@kaylawood9053]

@@cloudyblaze7916 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@dougronald561]

My ex-girlfriend’s sister lived in a condo building. Drug dealers took over the lobby. The association was forced to hire security. Their HOA fees shot up from $300 to $700 per month. She couldn’t afford the increase. Then she couldn’t sell it either because of the high HOA fee.

[@MichaelBordenaro]

Yep and that’s just one example out of many that can cause your fees to go up practically overnight

[@s.k.6616]

Golden Handcuffs

[@networth00]

Did she turn the keys over to the bank? What happened?

[@glogloe1797]

That’s terrible, I’m on my HOA board but not a condo type. I can see this happening if you have some undesirables living there.

[@dougronald561]

@@networth00 She sold it at a loss because the value went down.

[@tizzx4945]

michael is like the red pill for the Housing Market. He tells you everything you need to understand and know about the Housing Market and Economy.

[@MichaelBordenaro]

Thank you!

[@AFuller2020]

I remember in 2009 there were hundreds of houses in my area and the realtors said inventory was tight.

[@mrwilliamwonder]

@@StevenT7146 Then after they feed you, they're gonna slap your hands with that wooden spoon.

[@makoado6010]

but this market is manipulated... so u cant predict.

[@chrislastnam6822]

Actually I don't find him too enlightening. . I want to downsize in Los Angeles and I don't know if I should wait until (if) prices drop a significant amount.

[@LivingtheSprings]

I agree with most of this, but if people don’t think landlords are not going to forward those costs onto tenants they are sadly mistaken. I am seeing landlord’s raise rates up to $400 a month or evicting tenants and not renewing their leases to get a better paying renter.

[@iamlatroshia]

They want people to continue buying homes and once they start defaulting then the banks will take it back and sell. I’m a realtor and I feel terrible telling buyers to buy. Although it hurts my income I don’t want another season like we experienced in 2007-2008.

[@andreaberryman5354]

This is going to be worse. We were lied to-there WAS no "recovery"-they are lying again saying homes will go up. Nope. They wanted us to keep spending, just like they are sad we can't NOW. 😂

[@loribayne5109]

Same here! We are the Noah's out here warning about the flood! Keep on keeping on, you'll come out the other side and many others will not.

[@hotchicsf]

Unfortunately, that increased cost of living impacts the renters too. I have a rental which I've been very hesitant to raise rent on because they've been good tenants for years...but my HOA dues keep rising every year, taxes and insurance keeps rising, and costs of maintenance and upkeep of the appliances and interior of the unit keeps rising. I've been eating the increased costs myself up to this point, but eventually, I will have to pass some of these costs onto my tenant. It's going to be a tough day when I have to do that, but I may have no choice.

[@ByDesign333]

Me exactly...hate to do it, but reality.

[@MichaelBordenaro]

It’s always tough to raise the rent on good tenants as a landlord, but you can’t absorb all the costs all the time. If you’re not turning a profit, there’s no use and even being a landlord.

[@Jediknight91]

That’s why I’ve never gotten into the landlord business. Covid made me very thankful I didn’t.

[@statesoftheunited7049]

Why are you bills someone else's problem?

[@FooFan-b3k]

@@statesoftheunited7049 As a landlord I actually agree with you. I set my rents based on the market. Not raising rents is a horrible mistake usually made by landlords who have 1 or 2 properties who falsely believe that not raising rents on "good" tenants is smart. It's not.

[@sjrmike]

im glad i got my house when i did. as a first time homebuyer i ended up with a nice hidden gem. its still in its original design when it was constructed back in the late 50’s early 60’s era. i think of it as a gem because if i wanted to go and update everything to modernize it, it would all be added value and increase in comfort. it’s nothing fancy but it serves its purpose as a home. haven’t had any serious issues and a little preventative maintenance is all that’s required.

[@malifinch3461]

We have not yet seen the effects of the new FHA loans with 1% down, and to under qualified borrowers. Government manipulation in the market NEVER ends well. Yikes

[@MichaelBordenaro]

That’s right just another nail in the coffin for the future HousingMarket as far as I’m concerned

[@inwiththenew]

So I've been searching all over and didn't see any options for a 1% down FHA loan. The lowest FHA down payment is still listed at 3.5% + it requires MIP. What's your source?

[@EvilMonkey7818]

@@inwiththenew The FHA stopped their 1% program some time this year but there are still two places doing 1% down. There's 1% through UWM and 1% through Rocket Mortgage. They differ in MIP payments. The UWM actually requires you don't make more than 80% of the local area medium income and people with scores under 600 qualify. So it's a repeat of the subprime mortgages of 15-20 yrs ago. I don't know about Rocket Mortgage's 1% requirements.

[@jesse_-]

Same holds true for government regulation. The Wall Street Reform and Consumer Protection Act of 2010 is the reason we have a major housing shortage. The laws made it more difficult for builders and buyers to procure loans to build, and as a result, not as many houses that were needed were built, that piled up and exposed itself on 2020.

[@inwiththenew]

@EvilMonkey7818 are you sure it was FHA though? It seems there were/are a lot of down payment assistance programs that allow buyers to put 1% down and they fund the rest with grants or tack on the balance as a second mortgage. FHA was probably used more often due to having lower down payment requirements at 3.5% minimum, but that doesn't mean it was FHA's doing, because down payment assistance programs can be used with other types of loans. As far as I can tell, buyers still have to meet lending requirements so to liken it to the loose lending standards from the previous recession where income verification standards, etc. were lax, I don't think it is equivalent to what is happening today.

[@Fony_turgeson]

as a nyc resident i hear lawn blowers all day everyday from 8 till 6 blaring incessantly one of the worst and most disturbing noises no one does their own lawn or rake anymore

[@MichaelBordenaro]

Oh man!! That’s crazy

[@Norm475]

I sold my house and I now rent an apartment, I also own a condo in Fl. I sometimes wonder if is not worst just listening to the lawnmowers, leaf blowers, and other noises, than just mowing your own yard. When I mowed my own lawn the noise did not bother me, now as I am sitting on my fat ass on the computer it bothers the hell out of me. Of course, I am glad I no longer have to do the yard work. But, it is nice to complain.

[@Fony_turgeson]

@MichaelBordenaro yea. It's a double edge knife of living in a nicer neighborhood with big yards. I'm happy for that. But it us excessive. Something needs to be done. But this is nyc.. I also bought a house for the lowest in 16. Sold in 20. Bought very low. 3% interest rate. I got really lucky because i didn't even think it out. My first house. Was a last thought instead of ne buying a new car. Great choice lol

[@superodalisque]

Yep. Home prices are unsustainable. I took appraisal and real estate years ago when preparing to buy a house. I'm really glad I did. I learned a lot, like looking at flood plane maps and thinking about propensity for forest fires and inclement weather and possible tax hikes. Global warming in previously stable areas is really going to screw people over. Home prices were inflated specifically because interest rates were low and people found they could afford higher prices. Quarantine pushed prices up because people saved by not commuting and at the same time wanted to have a more enjoyable home. People are retiring and will be trying to unload a lot of MCmansions. Meanwhile the next generation can't really afford a home while taking care of children and the elderly without adequate compensation. Wages are extremely stagnant. They also want a more modest, more cost effective and sustainable home, not huge , high maintenance, energy gobbling old housing stock. I don't know where all of the money is supposed to come from. IMO that's why we're trying so desperately to start a war. Corporations have been playing a shell game. Instead of reinvesting in the workforce and R and D as promised, when they were bailed out, they've made stock buybacks to artificially increase dividends. Seems like we have a generation of truly untalented businessmen running the larger corporations including the banks. They mainly do what amounts to stock manipulation instead of innovation. Our country also hasn't invested in much needed infrastructure. One very huge issue is how many rural areas have no internet. A lot of communities could sustain themselves if the virtual workforce could relocate to their areas.

[@alyross2850]

With all of the new construction in FL, the requirements for people having flood insurance will go up. New construction, particularly housing plans, decrease the amount of foliage and undeveloped land to absorb even regular rainfall. This happened to me where a creek that was typically two inches of water in a 30 ft drop from the homes elevation flooded an entire town. It was devastating.

[@CreditCrusader]

that depends if you are in a flood zone.. look at the flooding after Ian.. all the flooding happed in flood zones and a lot of people had to self insure the properties.

[@superodalisque]

They really messed up by not protecting the everglades as well as they should.

[@superodalisque]

​@@CreditCrusader I've got news, with global warming the entirety of Florida will basically be a flood zone. The massive sinkholes are also going to become much more common. Then the superheated waters of the gulf and the Atlantic are also going to be a hurricane horror show.

[@thekid1597]

Truth 🙌 Texas is a wonderful example of that, property taxes are outta control here.

[@shawnhollahan590]

I live in Hobe Sound ! It's a great place to live but the prices are outrageously expensive .... a tiny cinderblock house is $400,000 and even I who make a good living can't afford $3500 a month in mortgage. The developers here are horribly greedy. They just keep building houses and ruining the 'laid back, small town' feel and turning it into West Palm / Fort Lauderdale sprawl all for the CASH. They dont care about community building. Every bit of green is for sale to be developed. In two years this place wont be recognizable. Its a horrible shame what developers are doing.

[@MichaelBordenaro]

It is a shame like you said because this is what’s happening all across Florida

[@CreamCheesePepperJelly]

It’s already happened. We’ve all been pushed north by the crowds, hubby from Broward and me from the Palm Beaches up from Jupiter Farms to be exact in 2010. Before that Lake Worth, before that Pompano Beach. When I built my 3400 sq ft house on 2 acres in 2001 the builder laughed at me, the dumb young chick, and hubby and family wouldn’t speak to me for days, hubby wouldn’t even look at the land until after closing. Then proceeded to laugh at me when I told him it would be over a mil in 20 yrs. Hahah, we are here. That house I sold for 500k in 2008 (NOT a short sale) now values at 1.4m. Yup! Jupiter farms. I’ve been a licensed Realtor for over 20 years and agree with EVERYTHING Mike says. We stopped flipping in 2015, who would have ever figured this crazy insane overvalued market cold get this far! BTW, I’m in Stuart (old Stuart) close to Sandsprit by the St. Lucie River :)

[@ericcarlson2166]

North Palm Beach County....carried Mail there in the late eighties.

[@mrwilliamwonder]

@@CreamCheesePepperJelly Flippers definitely drive prices up. But it's Florida home insurance that's crazy. A new roof every ten years? It's like putting new tires on your car every 6 months. I think the Florida market is topped out for everyone except for foreign money laundering.

[@dianecrowther581]

We need new commissioners. Hi neighbor😅

[@clevelanddavis1053]

Mike your videos should be mandatory for 1st time homebuyers!

[@clevelanddavis1053]

😂 common sense isn’t common anymore

[@MichaelBordenaro]

Ha ha you’re free to share them to anybody you know buying

[@Norm475]

I agree, Hell I am 81 years old and have owned five homes over the years and I still pick up nuggets of information. I look forward to his daily videos.

[@glennbeadshaw727]

Also should be mandatory for the banks loaning money to first-time buyers

[@McNelisG]

I’m a first time homebuyer in CA and massively thankful for this content. It’s so nice to hear unbiased information. All these real estate agents tell you fixing your cost by buying a house is SO important but they NEVER mention property taxes or insurance is not fixed. It’s helpful to be reinforced with this information. Buying a home for the first time can be a emotional rollercoaster.

[@Norm475]

Mike, when I bought my condo in Naples we were not in a flood zone and we are about 7 miles from the ocean. We are now in a low-risk flood zone. The primary reason is all of the new houses, parking lots, etc. and there are very few lawns for the water to sink into the ground, so we are left with the storm sewers and the ponds that store the water for irrigation. I am on the ground floor and so far there have been no problems.

[@MichaelBordenaro]

Absolutely the more they build the more flood zones they inevitably create by destroying nature

[@CreamCheesePepperJelly]

Im on block 12 in Stuart Fl, home built in 1968 and 5.5’ above sea level. When I bought this 10 yrs ago it was in a food zone. FEMA re-mapped and now Im not, go figure!

[@1969bones69]

You really should get out now while you still can.

[@Norm475]

@@1969bones69 Why should I get out?

[@seanhettich4378]

I love that you include your wife from time to time. I'm proud of my wife too.

[@chrislastnam6822]

Why are you proud of your wife?

[@SunofYork]

My wife is an autistic psycho but she is super intelligent and no fool with money (or men)

[@floridamaddogg]

What you are saying is very true! I hear too many stories online or in the news that say what this Zillow economist said. Also, realtors are not going to tell you things are bad because real estate is their livelihood. Home prices are definitely coming down and people can't live in the present day. They all think their homes are 2021 values because most them overpaid for the house and can't live with the fact they are at a massive loss.

[@alexlaw1892]

Ummm housing prices will be going up at least 30% in the next 12 months. There is no economic mechanism for them to go down.

[@novadhd]

A lot of these writers and "economists" have a vested interest in keeping the housing market and economy propped up. Thanks Micheal for keeping it real man.!

[@lauradalenberg3755]

When you get a mortgage you don’t have to set up an impound account where the mortgage company pays the property tax and insurance for you. I set mine up so I pay those directly to the insurance company and city. It just gives you more control. The less I owe to the mortgage company the better.

[@CynthiaWord-iq7in]

That us so true. It's often a package fir very low income people buying on FHA, was always a safety, but in this environment, if you ca

[@CynthiaWord-iq7in]

That us so true. It's often a package fir very low income people buying on FHA, was always a safety, but in this environment, if you ca

[@CynthiaWord-iq7in]

That us so true. It's often a package fir very low income people buying on FHA, was always a safety, but in this environment, if you ca

[@CynthiaWord-iq7in]

That us so true. It's often a package fir very low income people buying on FHA, was always a safety, but in this environment, if you ca

[@rubicon3416]

My homeowner's insurance in Central Florida went from $1,280 a year to $1,640 to $2,500 this year. Not enough to be a deal breaker but I have an eye out for properties to the north.

[@user-qy9tf2im7f]

I am in Ft Myers and it only went up 49%!

[@georgetaylor2819]

We are in Broward County and bought the house in 1990 with the insurance of $300/annually -- NOW? Over $5,000/annually and I've been told the state gave permission for a 14% increase next year.

[@gnryushi]

That's an insane increase.

[@mslisa5791]

I am in south Sarasota county, fl, my homeowners doubled.

[@qbanb8582]

I second that about mortgage payment not staying the same. Until recent I was on the bandwagon on it staying the same or at least being predictable from year to year. This past year is the most I've ever seen my mortgage payment go up. On average the most my payment would change is around $100 a month it was usually around $50-$75. My primary residence with the escrow shortage it increased my payment by $400 a month this year. Luckily that is something I can absorb without hardship. If this had happened to me years ago after I bought my first house it would've been a huge crisis.

[@MichaelBordenaro]

Absolutely and this is going to continue happening to more and more people especially those who bought recently that will see the biggest increases in insurance and taxes

[@holaf1649]

Rates went up today by a quarter percent.

[@petertosh4748]

Need to go much further..another 3 percent at least...

[@cookingwithadamkahnandlixu2718]

Hi Michael Just a note as a defensive loan officer. That isn’t the lender. Once the deal has closed the loan is now a mortgage backed security and managed by a servicing company to make sure the loan remains compliant. The “lender” is more than likely no longer involved in any aspect and the servicing company has to make sure it’s properly insured. Any homeowner can find their own insurance and even if they’ve been placed into the insurance that the servicing company placed them in if they get their own insurance the servicing company will often rebate back anything they were charged over that amount. Typically the homeowners have received notification. The servicing company should be able to document the notifications about the changes. Sometimes people don’t see the mail or think the message on their phone is a scam.

[@MichaelBordenaro]

That’s a great point. Thanks for mentioning that here.

[@CynthiaWord-iq7in]

Cooking--servicers now often own the forced placement insurance cis. Upstairs from the call center. Many are close to predatory lenders. My JPMORGAN-Chase loan if $502 mo. was sold to one who increased my escrow to $791mo. And then Jun 1dt just went to $978. In a small cottage I owed $40k on. In my 70s and ssa us $1,300 mo. No one will write policies here now. Florida, especially pockets in Tampa near new ground barely broke on Yacht Basin (used to be old cottage-y too close to downtown. Now 3yrs later, it's Bahrain. When the insurance industry makes a masse maneuver to change...like in the 1980s after decades of only free health care through jobs, decided it would be an annual fee per patient. Corp. Doctors chains called HMO, in no time 5-8 everyone was having health 8ndurance premiums taken out of paychecks, no 9ne stopped the ins.ibf. and it has gotten more expensive every year. That is what they are doing with homeowner's jumping up a few notches. Nothing gradual, legislatures don't stop them and it will NEVER go down.All they have to do is say Hurricane and senators shrink away. Some of these builders have billion dollar buildings, never short of money for that. Take note of the biggest buildings in every town you visit: Banks and Insurance Cos.

[@andreaberryman5354]

Thanks for the info-forgot about that. I could see them charging a charge to charge for charging insurance. 😂

[@1969bones69]

@@CynthiaWord-iq7in Sounds like Ocwen Financial.

[@chief3619]

This is correct regarding force placed insurance. I work for a large bank and every single time a mortgagor says they received no advanced notice about force placed or lender placed insurance, we are always able to furnish three letters over the course of a three month span and then the fourth one when we purchase the policy for them. Unfortunately lender placed insurance is ridiculously expensive so it’s always best to be on top of those things as the home owner.

[@BrocktaviusKingofNFC]

Im waiting to buy a house or condo, i was trying to pull the trigger about early spring i watched your videos for the last 4 or 5 months and you have saved my financial life by listening to you,we have overpriced and low inventory, i live in providence, rhode Island, just so you know this state has a $17,500 no pay back loan to use for either closing costs or down payment as a 1st time home buyer, ,but i always said money isnt free and i think its because we will lose value of that or more, thank you so much for your videos!

[@alfonsosalinas3026]

I give Florida about six years before it becomes just as unaffordable as California.

[@MichaelBordenaro]

We’re already getting there in Miami

[@rhodes-diversity]

@@MichaelBordenaro Didn't you say home prices are falling because Florida owners are forced to sell due to high insurance?

[@lorischamay1634]

Everyone knows your P&I is fixed if u have a fixed rate loan, but your taxes and insurance will go up over time. It’s very unusual to be pulled into a new flood map redrawing. Always best to buy & get ur house paid off before u retire. We paid off our house after 15 yrs and now live here in central NC for $549/mo on about a mil $ home. You don’t want to be 60 years old and be paying $2k per mo. still renting because u were afraid to buy a home when u were younger.

[@MM-ig2zq]

Well my insurance went from $2K to $4K to $6.3K. Today got my renewal notice. I have been dropped because my home was built in 1990. Company will not insured homes built before 2014. Citizens is insolvent you might not get paid, hope some people go to jail because this is a scam. Paid off, self insured. Florida.

[@CarlaQuattlebaum]

What a lousy deal! Not insuring homes built before 2014? Just rotten.

[@carefulconsumer8682]

So much truth in one video! After Harvey in Houston and all the flooding, insurance is going up a lot every year. I am seeing lots of price reductions as home owners get their property tax and house insurance updates and say, "WTF!"

[@MichaelBordenaro]

Absolutely many people are getting hit with these massive increases and may have to sell because they simply can’t afford it

[@andreaberryman5354]

I know...😢 WTF?! 100%

[@daveblackman816]

Nice bringing the wife alone, my wife’s name is also Lizzy.

[@MichaelBordenaro]

Oh nice! I like when she comes along

[@Lisithedogwalker]

I love walking around with him.❤️Say hi to Lizzy from me!🤗 Thanks for supporting his channel Dave.🙏

[@McNelisG]

Michael, thanks for this excellent and unbiased content. Super helpful for 1st time buyers. Your channel is going to skyrocket.

[@MichaelBordenaro]

You’re welcome thank you very much for watching!

[@stevekrupp6974]

My buddy works for FPL. He says they’ve had to replace a lot of equipment in lower lying areas with submerged connections and people buying these expensive homes in Broward and Miami are crazy ! Everything is sinking, except interest rates

[@mrwilliamwonder]

It's nice to see that you have the confidence to include your beautiful and personable significant other in these travel vids. Many KZbinrs don't do that. You're doing great Michael.

[@brn2863]

I honestly think it's kind of distracting but I've only ever seen it this once so no big deal.

[@alminci6622]

Nice to see you with your better half. Lovely lady and I knew when the time came Id expect you to be so lucky!!! God bless you two!

[@Lisithedogwalker]

Thank you!!☺️🩷

[@christasgamingchannel6120]

I started on a $980 mortgage payment in 2011 to $1451 of 2022, because of Real estate and home owners insurance increases.

[@trainsandlocomotives]

That’s still cheap by today’s standards. Some renters had the same change within 2 years for a 600sq apartment. Your Mortage took 11 years to climb that much. Some apartments are $2000 per month. Your still coming out ahead.

[@inwiththenew]

I know people think homebuyers using FHA is risky, but IMO it can also be a strategic financial move. Unless you're specifically looking to avoid MIP, someone with good credit and the ability to put 20% down might consider going the FHA route and put down 3.5% if they want to have money left over to provide a cushion for emergencies. They would also have extra money saved up if they plan on buying another property in the future. FHA isn't always a risky choice or a bad thing if you are responsible with money.

[@redphoenix1740]

Actually around here in the midwest, housing values have been decreased right in front of your eyes,, TG! 12% to actually 20%. Some of these houses were so overpriced it was insane! Your predictions are matching what's going on here for sure. I think your right👍🏻

[@Johnny-vb3dq]

We hope you and your lovely wife are having a great working vacation

[@MichaelBordenaro]

We are thank you very much. It’s been very fun😀

[@Lisithedogwalker]

Thank you!☺️🩷

[@francismarion6400]

Yes FEMA had to redraw the maps to capture more people to fund it. The history of Federal flood zones being able to get insurance caused all the growth in flood zones. Mississippi River basin.

[@lovly2cu725]

i have seen properties that have 1 foot in a flood zone & the entire house is considered flood zone. i find it hard to believe that he wasnt notified, force placed insurance is more expensive. thats what im trying to figure out- taxes based on purchase price. im going to call the county

[@6x6Tortuga]

I think you are spot on this. The entire financial collapse is near...

[@AJourneyOfYourSoul]

Every long term renter I know wishes they bought a house, or 10, back in the day. You even bought instead of rented. You definitely need to be careful where you buy with respect to insurance, HOA, taxes etc...Not every location is the same, choose wisely.

[@trainsandlocomotives]

Yup. I know a few people who decided to wait in 2019 and 2020 hoping for a crash that didn’t happen. They regretted that decision since.

[@lynnec6325]

I know where you're going with this. My Uber driver said " why are my friends complaining about property taxes?" I schooled him! I said there will 5 things on your payment bill. If....you go to the bank for a loan, aka a mortgage... I named them. He said " omg that was so good!" He said nobody ever explained it to me. If the insurance and property taxes go up. So does your payment...😊 That was his tip..

[@hcox1111]

That tip and 3 dollars will get you a cup of McDonalds coffee.

[@lourdest6171]

Beautiful couple ❤

[@MichaelBordenaro]

Thanks!

[@Lisithedogwalker]

Thank you!!!❤️☺️

[@bendalessandro5226]

I’ve sold 2 of my homes during 2 market corrections . The last one was valued @ 500k before the bubble burst . Was offered 400 at the time and I refused . Took me another year to sell @380 . Long Island NY the year was 2009

[@Shahyee]

I know you are being practical and truthful. It’s just, the truth hurts. 😢 I never got to buy a home and now I feel disappointed with where real estate is.

[@Lisithedogwalker]

🥲Be patient, faithful and strong🙏🩷

[@Mita7401]

I’m in the same boat! I moved to Georgia back in 2020 thinking homes wouldn’t be as expensive…well…they are! And the prices aren’t correcting fast enough in the area I’m in. Now I’m stuck between higher interest rates and prices that won’t budge! The cherry on top is my rent is expected to sky rocket another $400 and there’s a city meeting TODAY regarding an increase in home taxes. They won’t let us win!! 😩

[@seanm3226]

@@Mita7401 What area of GA?

[@Mita7401]

@@seanm3226 near Tybee Island

[@BillDaBurgerEater]

Go to Old Town Pasadena or San Marino please. I think Lizzie will enjoy too if she wants to come with you. Very nice blocks of houses to walk by.

[@lberry152008]

Hope yo two are having a great time. I love how Lizzy looks so happy to taking in the sights on your walk.

[@darmou]

Well fortunately PMI goes down too once you get to 20 % equity which for me will be in 3 years. And it looks like property Tax in Texas is about to go down too, perhaps @MichaelBordenaro should do a video on that also.

[@MichaelBordenaro]

Send me an email with your numbers and I’ll be happy to mention it in a future video

[@bigbluecrab]

My friend outside Fresno had her insurance go up, and cost her an extra 3k to remove trees and brush by 100' by the road. With this heat, fires in Ca next...

[@JR-fh1iz]

I wouldn't listen to anyone who says home prices are only going to go up. Two years ago everyone was saying prices would not decline and just keep going up at a slower rate over the next few years. But here we are with half the country down with some areas over 30% below summer 2022.

[@alexlaw1892]

Down? Prices are going up like crazy every day wtf.

[@JR-fh1iz]

Not sure where you are, but maybe you should venture outside of your bubble and look at what’s happening. Out west here prices have dropped significantly. Some places in the SF Bay Area are back down to pre-pandemic prices. Went to an open house in Santa Cruz for a house that finally sold $600K below initial listing price.

[@scott331]

You forgot to mention PMI will be going up as well!

[@kookietherapy9398]

Try to put down 20+%

[@TrustedSilver1987]

You are right, people don't do their own thinking or research.

[@angelinaferguson1307]

Michael the banks are going bankrupt. They dont have the money to give out loans . Many homes in my area have been pending way lo ger than usual. Also many homes in my area that were pending are falling out of pending

[@ksmith2852]

I got an email from my bank, US Bank. They called it "Getting to know you" and I was required to call them, or my access to funds would be restricted. I called. They wanted to know who I planned to make wire transfers to. I said, "Why are you asking me this?" They really didn't answer the question. They blocked my account.

[@angelinaferguson1307]

@@ksmith2852 .sorry to hear that. That's what going on right now. One of our friends had 4000.00 take from her savings. The bank pur it back when she complained

[@CarlaQuattlebaum]

@@angelinaferguson1307 Again, how do they get away with that? They only put it back AFTER she complained? Somebody tell me how a bank can even attempt to do this? Who do they think they are? Wells Fargo?

[@angelinaferguson1307]

@@CarlaQuattlebaum wasnt Wells Fargo. I don't know which bank . The banks are bankrupt. They need your money to survive. Especially if you have a lot of money. Look up bank runs.

[@holaf1649]

I just got notice that my rent is going up 200$ a month. So depressing. I’m staying because the rent is cheaper than elsewhere in Orlando area, but the apartment has a no functioning dishwasher, no fans, and I suspect mold. Drag.

[@MichaelBordenaro]

That always sucks but one thing that might make you feel better is look to see what it would cost to buy a similar place that you’re living in and I’m willing to bet it’s probably more

[@CarlaQuattlebaum]

Sorry to hear about your situation. No fans!? Hopefully they are there right away if your air conditioning goes out! I live about an hour west of you. I have a few fans of my own as backup, in case my air goes out, until our maintenance guys can get it fixed. In my apartment community, it is considered an emergency if the air conditioning goes out when it's above 80 degrees outside. Has to be fixed quickly.

[@theladynextdoor313]

Time to leave Florida! Or report that landlord because mold can cause all types of serious health problems. I wouldn’t risk it.

[@rillesttalk]

Welcome to LA! Beverly Hills will make just about anyone wanna move here. And thank you for bringing us the real. Along with repairs, home fees outside of the fixed principal and interest rates truly do adjust upwards over time to make homeownership more stressful - especially in retirement.

[@iworkout6912]

Probably about .000001 percent of the viewers could afford this beautiful area. I have driven around the area at night and if you stay in the area to long a security car will start following you. Didn't see Michael pause the video to point out any homes for sale or rent.....A great video just the same, with his beautiful wife tagging along, love her dress by the way.

[@shauntaprahamian3142]

We need MORE Lizzie. Would love if you can shoot a video in Encino/Tarzana area while you're here.

[@Lisithedogwalker]

I am always with him on his walks ever since we left Miami Beach.☺️ I just don’t make too many appearances in front of the camera. I am a bit shy.🙈 Thanks for watching his videos.🙏🩷

[@estelatechera5147]

The smart thing to do is just not buy , seriously , everything is a disaster now , now the roofing in florida its 15 years to redo , use to be 20 not anymore , great info Michael ,great videos

[@Juliet875]

Happy Wednesday Lizzy and Michael! Thank You and I hope you two are enjoying your travels. I think Mr. Habib needs a new Crystal Ball! LOL

[@MichaelBordenaro]

Yeah, I think his might be “cracked”😂

[@Lisithedogwalker]

Thank you!!! Happy Wednesday to you as well!🩷

[@magicparkmemories]

Any old movie stars own those homes in the background? How much are those homes that you are walking by?

[@johnpreciado3040]

Hey Michael! Great job man, appreciate all your knowledge! Have you been to San Marino yet??

[@Eyeris625]

Thank you for taking us to Beverly Hills, it's lovely.. with another blue sky and those palm trees are so tall. Regarding the insurance issue, it will affect all of us .. just look at what is happening with the weather right now, the heat, hail, storm, small super gusts, etc.. everything that will give an insurance company to hike up prices. Also, prices of homes will go down. I have been following a few in my neighborhood and within the last two week I have seen prices drop about $20-$40K from the asking price. At other instances, I have seen that homes are not moving, it's almost like nobody is buying.

[@todddunn945]

Michael, looking in my crystal ball I see a move to California in your future. Actually I am noticing how your wife is looking at all the beautiful homes there.

[@MichaelBordenaro]

Trust me, I’m giving it serious thought. Yes she loves all of the beautiful landscaping and flowers here

[@NuNugirl]

This is exactly why I decided to stay away from the Stuart area in Martin County, that and where the new Brightline train gos through. I moved to Brevard County instead. I’m happy here. I’m near the beach, but in flood zone X. Sea level is higher. The Condo Association Insurance went up, like everyone else in the State of Florida. I expected that.

[@magicparkmemories]

I saw a few new houses in the background. They must of tore down the other houses

[@jerrysommerdorf4021]

I want what Mr. Habib is smoking. The Fed doesn't expect the inflation to drop much lower until mid 2024. Don't be surprised if it actually go up a little. Great Job

[@CarlaQuattlebaum]

Michael told you . . . crack.

[@greggmenard]

In N.central Massachusetts, I'm seeing more and more real estate signs reminding me of 2008🤷🏻‍♂️

[@danielalonzo7445]

I live in California, and unfortunately we have either the rich homeowners and the struggling poor trying to afford their rents. I tell everyone we are a third world in California with first world amenities.

[@alexlaw1892]

Import the third world, become the third world.

[@MCC876]

Beverly Hills is beautiful. And I have really enjoyed the many beautiful neighborhoods of Miami. Beautiful places.

[@MichaelBordenaro]

It sure is!!

[@chrislastnam6822]

​@@MichaelBordenaroBeverly Hills was beautiful but not anymore because most of the houses were torn down and replaced with hideous Persian palaces.

[@austheboss2]

home prices are going up here in colorado again

[@Resmith18SR]

Good on you Michael for pointing out what a shill Barry Habib is for Redfin, Zillow, and the R.E. market. He should have received the Crystal Ball award for being the most wrong. 😂😂😂

[@andreaberryman5354]

😂😂😂😂

[@johncronin5311]

Beautiful weather and not one person outside ? You could not melt a home on me in that state

[@bchbum3802]

Apparently I need rose sunglasses or a new crystal ball! My kid says are you smoking crack..not to me but in response to people..keep speaking truth Michael!

[@myothercarisadelorean8957]

Michael. I live in Southern California and the leaf blower guys are always out. Problem is every property has their own guy at different times and days of the week. Another problem in my neighborhood, we have 4 different trash and recycle companies and every property is not on the same provider. So every goddam morning and throughout the day is trash or recycle pick up per every company.

[@FloridaManConstruction]

Come on up to Lake County, Florida. My ranch is at 170 feet above sea level. No, we don’t need oxygen because of the altitude, just a little weed to help the attitude….. 🌴🐈🐈🐈🌴🏴‍☠️

[@Blsfull]

Hey I think I know you? I’m trying to move back home….I’ll be there soon❤

[@janejustice859]

TY Michael. It's a good reminder for those that live near the water. I've seen houses here go from no flood insurance to needing it.

[@TBrown-zy2dr]

Hi Lizzy/Lizzie!!! 👋

[@Lisithedogwalker]

Hi TBrown!!!👋☺️

[@mnml]

Dude, I work like two blocks from there and I was walking there today. I’m a huge fan and would have been great to say hello in person.

[@Lisithedogwalker]

Oh wow 😊

[@jacquelinemorgan2086]

As always good video. Thank you.

[@dominicktricozzi1221]

Another great job Michael also enjoyed seeing and hearing from Lizzie👍👍👍

[@Lisithedogwalker]

Thank you for supporting his channel Dominick 🙏🩷☺️

[@AJourneyOfYourSoul]

I think the appeal of Florida is no longer there. No property tax protections, as well as run away insurance, have ruined it. The bottom line, there are just too many people compared to nice places to live. The entire country is trying to fit into the same 30-40 top locations in the country. The days of living cheap in desirable locations are over.

[@igotaction]

Welcome to CA and the home of Prop 13. That keeps property tax essentially locked. Find a home with no HOA.

[@BillDaBurgerEater]

Yeah, but what about Prop 19, that ended parent child tax reassessment exclusion in 2021. Dont rely on govt laws, theyre the biggest crooks and can change the rules at anytime and call it a tax cut.

[@chrislastnam6822]

Our legislators want to get rid of it. They hope to pass legislation that allows them to get rid of it with 50% instead of the current 66% majority required. Old people will then be forced to move from Holmby Hills to Compton.

[@alexlaw1892]

​@@chrislastnam6822Goooood

[@kfox9650]

So builders are building “starter” houses in our area, 3 story with 3 bedrooms and 3 full bathrooms. Trying to sell for 400-600k, the current prices here are 300k. I dont know what the definition of a starter home is but I highly doubt it’s 3000 square feet. And all the new land lords are asking double or even triple the local ones. So all the new landlords are asking for ( going by averages ) 1 month’s income in rent each month. Plus the 1 month advance and security deposit. The total comes out to 5 months of the average income. 100% sustainable.

[@monkeyloven]

I love your wifes accent and her beautiful hair and dress. Thank you also for your housing updates too Michael, keep them coming. We love all the scenery!! Hope you guys have an amazing trip!

[@Lisithedogwalker]

Thank you so very much!🙏❤️☺️

[@craigkincheloe7779]

What’s silly is talking about the RE market in terms of a national market. It’s not the stock market. There isn’t one market that everybody trades from.

[@chrislastnam6822]

Beverly Hills , my home town , is ruined. He should do videos from Hancock Park , San Marino , Holmby Park where the beautiful original hundred year old houses are still standing.

[@jessesantillano9179]

The friendswood texas neighborhood is landlocked - high demand neighborhood will hold its value

[@themarkandmelteam]

Just saw that the Hollywood show The Brady Bunch house is for sale ovrr there for over $5M which is unbelievable.

[@user-qy9tf2im7f]

One problem! Listing are at an all time low. That will keep prices high. Supply/demand . That is how markets operate. Supply is at historical lows.

[@MichaelBordenaro]

Everyone needs to understand that that is the only thing that is keeping prices elevated right now. But as soon as there’s any sign of distress in the economy, the low inventory argument will be a thing of the past as many people will be forced to sell.

[@alexlaw1892]

Supply and demand is a bit of an outdated myth.

[@nolongeranurse3369]

​@@alexlaw1892nope...it 8s what capitalism is based on

[@lorysutherland5464]

As always..An excellent education. Lizzie, I love your dress. ❤

[@Lisithedogwalker]

Thank youuuu!!!😊👗🩷

[@scottsjmc7063]

Thanks for the Southern California travelogue. You pick some nice walking place and the scenery is more diverse than Miami with the hills, canals, trails, etc.

[@MichaelBordenaro]

My pleasure I’ve been loving getting out in new places shooting videos for you. Changing it up with the scenery is my favorite part👌

[@scottsjmc7063]

@@MichaelBordenaro We need some merchandise from the Michael Bordenaro 2023 USA Tour - You've hit enough cities to make it a thing. Your trip makes me thing of the "I Love L.A" video where Randy Newman hits all the hot neighborhoods in the 80s!

[@jjbees7911]

Seeing that the labor participation rate is at an all time low, the fed is going to have to punish a lot of people to bring unemployment higher.

[@barkbros123]

Just warning you folks, the market is still expensive

[@chrisdfuture8]

Thanks for telling the truth unlike every other person

[@MM-gu8tk]

Welcome to LA. I enjoy your videos. We are having our heat wave here in So Cal . 0 for the common sense. Im a homeowner here in Monrovia way more inland from the posh Beverly Hills or beach cities .

[@kevothagod6144]

There’s a realtor with a KZbin page called “John Wieland” who is saying on his videos why there won’t be a market crash. I commented with facts and he just ignores them and gives a bunch of BS why he’s right. Realtors like him are the reason why people will lose everything on this go around

[@MichaelBordenaro]

I agree. I will at least listen to people that tell me why it won’t crash and sometimes they have a good arguments. But I think there’s more things pointing to a downfall, than not

[@kevothagod6144]

@@MichaelBordenaro Exactly!! I will always listen to opposite views because it may be an opportunity to learn. But this guy kept responding to me with nonsense and never addressed any points I made with any logic. That’s when I knew he was just trying to make his last few bucks before the well is completely tapped out

[@CreamCheesePepperJelly]

No way this will sustain. I see a trend of multi-generational living, you know, like the “old days”. ALF’s are 5k+ per month and young adults can’t live on low wages. With the horrific rental rates along with over valued homes and insurance gone awry, multi-level living appears to be the best bet.

[@rhodes-diversity]

This YoY stuff is complete non-sense. Home prices in the busy season should not be up YoY because it's the busy season, because the year before, the point of comparison, was also a busy season. In fact July 2022 was a record for prices. We are close to those same records now. Yes from hereon out, home prices may drop. But they did the same last year, which means the YoY could indeed be 6%, despite month over month falling prices.

[@timstultz4387]

Great video. Really cool you guest stared your lady. More coverage on current events in the economy always up to date. Your my go to for this information. Keep the videos coming.