Priced out of paradise: How boomers retiring to Sarasota are sending home and rent prices soaring
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- Опубликовано: 30 ноя 2021
- "I think it would be more appropriate to say what's the blame, rather than who's to blame, and it's the market that is to blame."
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What they aren't telling you is that there is literally nowhere to move. Every place in the area has a two year back log. I know because I live in Sarasota. I work my butt off. But when my 1 bedroom apartment literally DOUBLES in price (1,500 to 2900) literally because they can get it, it's just crazy. I work 50+hours a week, and I still am having to move out because I can't afford it. No idea where we are going.
I really feel for you and your family, I am from Sarasota however, I live in Indiana and I have been hearing about this for quite some time now. A place that may still be affordable is Owensboro Kentucky., Best Wishes
I know a younger couple that had been renting a nice three bedroom with pool a few blocks off Bee Ridge. It was an older house built in the early 60s with a single car garage It needed some repairs and updating but It was still nice. They had been saving up money for a down payment to buy the home when one day they got the call from their friend / landlord that the offers from investors had just become so large they couldn't afford to say no anymore. Their month-to-month lease was terminated and they had a very short time to find somewhere to live.
The only place they could find that had units available was way out on 64 past Lakewood Ranch boulevard, miles from where both of them work in Sarasota. Now not only do they have longer commutes. Their rent has gone up to the point where they can no longer afford to save for a down payment and they are living in a tiny two bedroom on the far outskirts of Bradenton.
I drove by their old house the other day. I have no idea what's going on there but it's been painted and there were several construction vehicles parked out front.
Welcome to Sarasota.
This is happening everywhere really.
@@lynx70123 this should be illegal.
Yep. Not everyone can afford to live anywhere they want to. Supply and demand.
I own my home and 5 very nice rental properties. I get calls constantly wanting me to sell. The major investors are causing havoc with would be first time home buyers. I don't see it changing anytime soon. What a sad thing it is for young people to simply want to own their own home but the properties are being bought up by the corporations.
Duh, there are other “Paradises” and jobs outside of Florida. And with what their Governor is doing to the state is criminal!
I’m a native Floridian with 2 jobs: I work in a high-volume moderately priced breakfast diner in an affluent area, so daily tips vary between $150-$300 per shift depending on the day/season. I also work for Amazon in a warehouse about an hour away. I make $16/hr and have full benefits including free education, so I’m completing my AA and pursuing a CDL license.
My parents own a home in the neighboring Manatee county because it was passed down from my grandparents. They also rent in a 65+ community. As much as I’d like to be like my parents (my dad’s retired military and post office, my mom was a CNA and started her own company with my aunt), I can’t see it happening. We’ve spoken about this too. I think I’m going to need to move to Houston for a few years to save money for a tiny house. Then, if I want to come back to Florida, I can park it in a community… but I think the days of buying homes here on a blue collar income have passed.
Sister... You need to look Hard on where you would move to Out of Florida, Houston is Starting to be a Damn Joke, Find something that has Real Low Housing or Apartment Rents, Blame these 🤬 🤬 Corporate Companies that are Buying up Houses & Apartments & Renting for Absorbent Fees! These Bastards are in 1st in Line with "COLD HARD CASH" To buy any Real Estate in the Sun Belt cause People are Moving Down there like Crazy from other parts of the Country & it's the Reason why Rents & Housing where you are are Rising Faster.
???YOU MAKE BETWEEN $ 300- $ 500 A DAY....WHY WOULD YOU GIVE THAT UP TO MOVE TO A HELL HOLE LIKE HOUSTON!?
Good plan… I’m much older than you (56) and live in central Florida. My retirement plan is to sell my almost paid for home and pay cash for a tiny or small modular home. They don’t even mention homeowners insurance which is outrageous now. Stay the course and keep working hard. YOU are the future 🙏🏼🇺🇸😎
@@anntrope491 PREACH. MOVE TO SOUTH VENICE OR NORTH PORT, EASY TO GET EVERYWHERE TOO
Houston is a concrete nightmare and the gulf is polluted with oil.
This is why I recently left. My crappy 600 sq. ft. apartment off of Fruitville went from $1,350 to $1,815!!! Are you kidding me!!! I now live in Arlington, TX (Next to Dallas), in a great neighborhood with tons of jobs for $910 a month. Get lost Sarasota!!! Florida as a whole is insanely overpriced.
Buy a home while you still can. Only a matter of time before Arlington gets just as expensive as the place you left.
I'm shocked you found something that cheap in Arlington my old apartment in Lewisville is now 1500. I bought my house in 2020 but if I tried to buy it now I wouldn't be able to afford it.
@@joypeaceandhappiness1501 Plenty of nice and reasonable apartments here at the Brown & Collins intersection.
@@AJourneyOfYourSoul
Exactly. People who don't see the trend will be stunned when they realize this is happening everywhere, not just expensive places like NY, LA and San Fran.
Arlington is kind of run down area of DFW. You can’t get an apartment for that money anywhere else in the DFW, especially east and north of Dallas. I live in Wylie and $800 will get you a room and you have to share the bathroom with other occupants.
I was born in Sarasota Memorial Hospital and graduated at Sarasota High, I'm 22 years old and I haven't been able to even consider moving out due to the price of housing
Born and raised as well. Even with a good job in cybersecurity, I'm looking at apartments in Ohio
Same even with 48k income I still stay home.
The rich will have to eat money when the poor no longer makes food
Such a powerful statement. We are just hurting ourselves as a country by letting this shit happen. So sad to see.
Hello robotics, AI and universal basic income. The World Economic Forum game plan (inc. Biden)
@cfcbrenden7 Klaus Schwab, Larry Fink, Bill Gates, etc. are hardly right wingers. They are authoritarian absolutists who want to own you. Biden and family are already owned. It is you who meets the Mark Twain test…”it’s easier to fool someone than to convince them they have been fooled…”
No, the rich will pay whatever price to get what they need. The problem is there are too many people that can only serve food. It's a new era and technology has outpaced most people's ability to keep up - truth is we just don't need as many people for civilization to prosper. If you are not one of the people creating wealth and technology or providing an essential service, then it's a rat race.
Be real! Investors came in about 5 yrs ago and started buying up apartments. They painted and did a little landscaping, raised the rents, then sold the properties. When new owners bought they kept prices up and then raised them again. Then the economy with prices for building etc went up etc. Between investors and economy people are priced out of homes. It's not people moving here. It's happening all over the country.
Let's be honest. I live in Sarasota and the major problem with the housing market here is investors and house flippers driving up the costs and pricing the middle class out.
As a 28 year old Florida native that just moved back after 6 years in the Army.
Yeah. this is tough xD
Frfr, I remember looking at apartments at $750/m going for $1500/m atm
what about a VA loan?
Yeah, lemme just take out a loan to rent an apartment xD
My comment isn't so much for, *oh no, I require aid* My comment is: Yeah the market jumped from 800/mt around where I lived to 1700/mt which is nonsense.
@cfcbrenden7 If you want to eat the rich and cause civic unrest call BLM. They get 💩done with 🔥 Just ask Target 🎯
As a family who just moved out of Sarasota and back to Boston, it’s also the Air BnB issue. People are buying homes, renting them out. They should be nailed with big taxes.
Thank God you're not in charge.
@@stephfran9761 well, no one seems to be in charge in Florida. Traffic is overflowing into the Everglades, there’s homeless people everywhere, the ocean can’t be visited for months out of the year because of red tide, the housing market is about to crash there, workers have to drive 40+ miles to work the tourist areas (because everyone thinks they are on HGTV and try flipping/investing in properties with minimal state law to protect renters/buyers), and billionaires are using the roads/amenities with zero income tax. So where do you suppose money comes from?
@@cinnamonshack2278 It sounds to me like you're just pissed off and want others to pay for it, um ok.
One of my favorite areas is considering combatting multiple homeowners who buy vacation homes. It has been rather a process that the people working and living there are priced out of the market by all the rich people buying the properties, do airbnb style renting, and don't contribute to the town. People are annoyed often that the vacationers keep partying too. They want to charge high taxes then if it is a vacation home.
I live in Sarasota in the gulf gate area. I bought my house 20 years ago. It was worth 40k dollars. It's up to 500k now....The pricing is ridiculous here. If you're single-forget about it. I count my blessings that my house is paid off and I won't have to work 4 jobs to pay rent somewhere else.
God bless you. You are one less person who have to worry about a place to call home. I pray for those who can not find a home right now. I wish this country will have a change of heart. Such a sad thing to see.
GG is a fun area. Enjoyed my time there.
I own my home and 5 nice rental properties. When I go I'm leaving it all to my kids and grandkids. Now I'm a bit worried the grandkids are going to knock me off to get a house to live in.
@@veronicadare9047 I just got lucky that I was born in the right year. What’s happening now is so bad for the new generation. How people will survive in the future is beyond me. A guy I work with rents a one bedroom one bath apartment for 1600 dollars a month. Guy works 3 jobs just to live paycheck to paycheck. Unreal.
@@dougfoster445 boomers screwed up crashed the car and handed the keys to the younger generation millenials. Welcome to modern society
It’s not just retirees. It’s political relocation.
I predict Americans in 70 to 100 years from now (if there is even an America left) will laugh at the damage we did to ourselved as a society. This is ridiculous.
Its not the people its the government
@@tonhan2092 the people made the government.
This has happened in NY, Long Island and LA, SF about 2 decades ago and is still going on. This is NOT new. It just took awhile to get here. Sarasota is not a Petrie dish at all. Late bloomer if anything.
Its been going on steadily for yrs here , its just now gotten to the point where people are desperate.
Besides didn't lots of people leave NY and LA to move to Florida because of covid making life so impossible?
Government floods the market with cheap dollars and rock bottom interest rates. Asset values naturally skyrocket, becoming unaffordable for a large chunk of the population. Government steps in to "fix" the problem with more regulations, etc. Rinse and repeat.
Correct. Don't ask government to fix problems; in the long run they just make them worse to please the uneducated voters in the short run, in order to get reelected.
Who would have ever thought overpriced real estate would be a problem. Priced the next-generation right out of existence. But what a great investment??? What were your real cost? family, friends and loved ones. Only seems to matter when you don't have it. Hold your children tight ,God bless you and your family
I feel bad for all the children being born into this world now.
@@perpetualmotion8090 if they don’t major in useless crap like gender studies, they’ll be fine.
Democrats caused this problem by shutting down the states they control, which lead to a lack of supply in homes that could not keep up with the demand. When demand exceeds supply, the product in question becomes more expensive.
@@johnmartin4641 Will they though? You know the interest on that $2 trillion borrowed to fund the war in Afghanistan will be 7.5 trillion in 30 years. Our national debt is about $30 trillion, and even conservatives are passing these spending bills. I dont think future generations are going to be just fine.
Middle class is getting wiped out like a kook trying to surf
Has nothing to do with anything other than greed. I love how they always say is inflation instead of calling it what it really is which is plain and simply greed
If some one is offering a lot of money for a place that you own then you would have to sell it to them.
Ah yes, successful people are greedy and poor folks are saints. Very easy for a poor man to accuse others of greed as he cannot prove he is not since he has nothing to give.
The current rate of people moving to the area is just not sustainable from a housing standpoint. Until people stop moving here at a 1000 people a day or 365,000 a year there will continue to be housing shortages and exorbitant price increases for renters and buyers. Not to mention the widespread destruction of the beautiful nature that made this such a nice place to live.
Not to mention COMPANIES are buying homes with Cash on Day Of Listing THOUSANDS of dollars OVER Asking price. In turn making CRIMINAL MONEY renting at Rediculas prices!! Making it near Impossible for a regular family with Mortgage financing to buy.
Retired ppl moving south isn’t a freakin surprise it’s been going on for decades.
F*cking greedy developers cause all this.
Yep. It is absolutely horrible in San Antonio, TX. Once beautiful open land just east and southeast in the county have ALL been swooped in by developers and now literally thousands of cookie-cutter monstrocities being built on tiny lots for $300, $400K and up. There are no front or back yards and just a few feet apart from house to house. You could not pay me to live in those disgusting houses!
@@perpetualmotion8090 OMG so true! They are called " cookie cutter snout houses" Don't ask me why the snout part? But if I am to spend that amount you bet I am going to have some room outside my home to breath! They sold one home on our corner in the city of Sarasota , knocked it down and built 3 homes exactly alike on that one property!!!
World Economic Form. Do some research.
@@bishley6379 Your comment makes no sense.
I am in Sarasota right now, taking care of my mother. This past 2 years has been a real eye opener. Prices have gone up 25 to 50 %. Blue collar workers cannot afford to work and love here, and the overwhelming over 65 population that is buying up property is driving out the very workers that are needed to keep people healthy. Nice place to visit, but too many old people, especially during the snow season.
And they only use those residences for 3-5 months out of the year. Wealthy snowbird locales are a true eye opener to the wealthy disparity in our country.
@@ahmanfan facts I work on Hvac out there and majority of the time my clients are never home until this time then they go back most don't even rent out the properties or anything either. It's pretty crazy
@@vermouthsavage4750 As a former Realtor in Pinellas 5 years ago, roughly half the inventory would be vacant which usually meant it was a second home. That percent is certainly higher the closer to the beach.
Years ago I dreamed of owning an RV resort, sure wish I had done that.
IT IS HORRIBLE HERE NOW! ESPECIALLY W/ TRAFFIC AND PPL WHO ARENT FROM HERE ACTING LIKE THEYRE SPECIAL. Luckily i'm okay bcz I own my home which was purchased for 300k about 8 1/2 yrs ago, last year valued around 420k, now I could easily sell for 600k...and property values just continue to rise which is good for sellers ofc, but not for anyone else. I'm damn near 30 so all my friends are late 20s-late 30s and I think i'm probably 1 of 5 friends/associates of mine who actually own their homes full stop, and maybe another 20 ppl who are okay w/ their mortgages and everything right now. Everyone else is struggling, rent keeps going up, it's insane, and for the most part i'm not talking about friends making anything close to minimum wage were talking (mostly) ppl making 60-80k a year...these are educated people, and/or skilled laborers/tradesmen like welders, ppl who work hard at jobs that we were taught would grant a certain level of economic security, and they can barely afford to live in an average 1 story 2 bedroom. My friends who do work lower paying jobs in restaurants, or as handymen, pool ppl, etc. shittt most of them have to either live w/ family, rent a room in someone's home, live w/ their significant other, or 5 of them will all have to pool their $ just to get an old, somewhat suspicious looking, 3 bedroom 2 bath in an old neighborhood that not many ppl are interested in.
My family's from CO and what's going on in Sota reminds me of what's happening in parts of CO, what's going on in Sota now is hands down Aspenization so it's all fun and games for the wealthy until their favorite restaurants can only stay open 3 days a week bcz there's no staff, same w/ stores, and basically all similar businesses. Letting all these big companies buy up all these homes is IMO the most shameful part.
It's the same in Las Vegas, the wages don't support the cost of houses or rent.
Same in phx. Its ridiculous
I have now lived in ALL THREE over the last 4yrs and can confirm. Phoenix, vegas and sarsota, anywhere you work you’re underpaid yet living expenses waaaaay expensive. Weird times.
@@a_piece_of_poo I'm in Sedona, the prices are crazy here.
I was born here and I have been forced to live in my car. I guess it's my fault because I can't get a job making good enough money. I'm 48 and this is my home and I have to find someplace else to move to. It makes me sad really. I didn't come here from someplace else but I'm being forced out.
Especially when you do find someplace you could possibly afford then your faced with " will i be excepted as a renter with this landlord?" Since there are so many others wanting it.
When I was in middle school, you could buy a house here for under $100k. Now that I am out of college and working, I am stuck living at home until prices come down or I just move to a different town. Really would be sad to leave, all my family is here.
Same here in some parts of Broward and West Palm Beach and even West parts of Miami but now that is impossible to Find
You're waiting for prices to come down? I mean, you sometimes get corrections in certain areas. Years ago, houses in the Phoenix, Arizona area crashed after '08. But in general, the trend is only going in one direction: up.
I'm having to leave NY and move out because of cost of housing. It's insane.
We bought our home at 45,000. 30 yrs ago .....granted it was a fixer upper , but even houses that needed little fixing went for 50,000 and now our home in the city has increased to 414,000 ....the rich want our property so badly ....they call , text , and mail us offers on the daily!!
@@dontbanmebrodontbanme5403 They crashed here really bad then .....every other house was for sale or rent literally!!!! Now nothing!! I heard it was 7yrs up 7 down ....but I haven' t seen down in way over 7 yrs!!
Not could, it is that people are pricing out the locals. Months later and this has no signs of getting any better.
The cute little towns surrounding Sarasota (-already ruined) are OVER-DEVELOPING. Local government says we need new housing- residents & their TAXES to build infrastructure. NO!! Stop building, less cars- roads would be fine. But these people move down from NY / NJ where they are use to living house onto of house & become council members - local representatives RUINING the area. My family has lived here >150 years. It is SO SAD what has happened to this area. Where are the Animal & Environment ACTIVISTS?? NOT HERE!! Yet every NEW HOME BUYER would claim how important Protecting the environment is. WHAT A DEPRESSING JOKE!
we don't even get to enjoy the white sandy beaches or waterfront properties and such, yet the cost of everything around here is like we do
It's too crowded to enjoy much of anything here
@@kellyhanna3974 u find some sweet spots here and there lol I found a clutch spot out by longboat lol but that's a mission in itself these days
I haven't stepped foot on a beach in sarasota county in 15 years. I look at the beaches out the windows at work everyday with no desire to do so. It's full of people i dont know and arent from here. Growing up here surrounded everyday by more and more strangers is like living in hell, but for boomers it's paradise on earth. There is nothing here for young people.
It doesn’t help when everyone and there mom from New York and Jersey/ massahole wants to move here
Just price out all the people in the service sector ! and have fun doing everything yourself !
Robotics, AI are already here and replacing working class.
Try Salt Lake City. Homes averaging 600k, rents way up 2-3k for a nothing fancy small house, etc. Heavy drought this year, freeze your tail off in the winter and roast it off in the summer. Smog is really bad here too, Just comparing the two cities. Love Sarasota!
I own in Michigan and Florida and Michigan’s market is even worse, moving up quicker in price because there’s a bigger shortage. Glad I bought in Florida when I did. It’s still a bargain compared to many warm weather coastal places. Southern California is double or even triple.
I've lived in Sarasota and it's way over ranked. It's also humid as hell. Yes, there are some beautiful privileged areas.
Otherwise it looks like any other city. You can get equally beautiful scenery without the price and the sweat. In fact if you're a nature lover you can get even better looking scenery without the fake postcard Beach look.
I’ve lived in that area. The gulf water can get tepid in the summer, awful. There are no breezes, as the southeast of Florida has from the Atlantic. Sarasota is cultured, but It’s becoming just another overcrowded place to live.
Seems the wealthy who live there could have an ordinance passed banning humidity (and large bugs).
it’s not a fake postcard beach look if the beach is literally right there lmao
@@djbillybool8173 I was thinking the same , that made no sense! Our beaches are the essence of true and natural beauty not to mention so many other places like myyakka park
Yeah...not too over ranked but if course that's an opinion
Travelled alot oaroundnthe country, live here in Sarasota and Sarasota is definitely an exceptional place to live
Always love coming back home
Thankfully we've owned for over 20 years so able to afford being here
Sarasota here and this is insane! I was trying to help my retired senior citizen father find a home for rent recently. He lives on a social security fixed income and has been living in Sarasota almost his whole life, but as of a couple months ago, he had to leave Sarasota. We were simply looking for a one or two bedroom home in any part of Sarasota/Bradenton, and the cheapest one bedroom homes available were about $2,000 a month!! That pricing is ridiculous and he could not afford it. Once my lease is up I am sure that my family and I will have to leave Sarasota as well.
Find a small town.
It's everywhere, I'm across the state in Brevard county and it's bad here too.
Florida, the state of newlyweds and nearly deads.
Were moving to east of 75 in Sarasota in October. Paying 410k. Hoa Fees 500 a month. In Penna. we pay an avg of 100 a month for our grass to be cut, snow removal, etc. We get a pool and insurance in the Hoa. Deduct another 100 a month. Your down to 300 a month. The avg home anywhere costs 1-2% to maintain. 1% of 400k is 4k. Your Hoa Fee is a dream come true. No maintenance , no hassles with the roof is a hurricane takes it off. Same Hoa fees up north are triple. Try getting a place in NYC. 500 sq ft is about a mil these days and probably has bed bugs in the walls. Downtown is still dead and its real cold in the winter. Sarasota is expensive, yes, so go further south to Venice out in the country some and its cheaper. Ft. Myers even cheaper. Just watch out for them alligators. They grow em big down there.
It happened in 2008 it's going to happen again! When "The Served" have no one to SERVE THEM it's a HUGE PROBLEM!!! By this fall something is going to happen...
This is nothing like 2008, it's just the opposite.
If Florida is Paradise, I know I’m going to hate Hell.
Thank you William Russel your the first person I have seen doing something for middle class essential workers.
Several factors, as mentioned for. We have plenty of material to build houses but a diminishing supply of land on which to put them.
Single-Family Zoning is pervasive and it locks out the construction of cheaper multi-unit housing, from duplexes up to the efficient-to-build five story apartment. NIMBYs clamor to block cheaper housing at every turn.
Large government subsidized apartments have a history of going to pot where rents are subsidized as well, especially when troublemakers can’t be evicted and drag down their neighbors property values and quality of life through trash and junk everywhere.
I grew up in Miami in the sixties and seventies. The families in my neighborhood had dads who worked regular middle class jobs such as construction, retail, a computer programmer for Eastern Airlines, a photographer who worked for the Miami News newspaper (his wife was a legal secretary), etc. My dad was a union pipe fitter. We enjoyed safe neighborhoods, good schools and nice homes. It all started to change in the mid-seventies when there was a massive influx of Cubans who were basically willing to work for nothing. Greed took over and wages stagnated, home prices went up and eventually it was difficult to get a job unless you were bilingual. This is what Leftists want for the entire country.
" It all started to change in the mid-seventies when there was a massive influx of Cubans who were basically willing to work for nothing."
It has been our national policy for decades to let in Cubans no matter who sets in the White House. Blaming just the left is sort of lame.
@@robertjones7565 “Letting Cubans in” as part of our normal immigration policy is different than a sudden huge influx of immigrants that drastically changed the demographics and economy of a major city in a very short time. One example (of many) is that construction jobs went from union to non-union overnight. Your comment is sort of lame.
I buy into multifamily syndication deals and I swear basically every one of them says their business plan is that "these apartments are currently renting for 20% below market value because the current owner has prioritized full occupancy; we're going to bring rents up to market price whenever leases expire; oh, and also, we're going to do some value add renovations after which we can raise the rents by another 20%; then we're going to get the building reappraised and do a cash-out refinance and return capital to the investors, at which point they'll have gotten their money back but will still collect rents in perpetuity".
This is everywhere
I'm in socialist NJ & it's the same.
Big corps w govt are doing this - welcome to nwo- you will own nothing
Jesus said" I am the way the truth and the life" he promised to never leave or forsake us.
He promised to provide all the needs of His people
Come unto me- all who labor& are burdened& I will give you rest.
Today is the day of salvation-
He died for us& today he is risen
Repent-and ask Him to save you
Don't wait too long- He's returning soon- and then the Antichrist is loosed- after 3.5 yrs- God will pour out his wrath on the world
They’re extremely needy and awful to work for too.
When all of the workers leave due to not being able to live there what are these rich old people going to do? There will be no one to serve them. These folks will cut off their own nose to spite their face. I grew up in Sarasota and moved out years ago due to the cost of living and now Bradenton is getting to expensive for the working class. I hope you folks enjoy your long lines as you wait to eat your crappy food and other things as all of the good works have left.
They’ll just get Biden’s illegals who live 20 to a house.
Years ago I took annual trips to Florida to visit in-laws who had just retired. They lived in a retirement community (55+) and had a wonderful time. Parties, poolside games, social events, and so forth. For a few years it was paradise. Flash forward 10 - 15 years, and that fun loving community was a memory. The paradise turned into something very different. Wheelchairs, oxygen masks and tanks, walkers, and a (literally) dying population. Unfortunately, rents remained high, health costs were high, and the paradise turned into a lonely ghost town. Florida looks great in your 60's, and it may be a retirement paradise - for a while. Be careful what you wish for. It may indeed come true, but nothing lasts forever except death, taxes, and medical bills. If you're happy where you are, and your mortgage is almost paid off, do yourself a favor. Visit Florida, but don't move there. The devil is in the details.
Florida, the weather, the beach, that's all. Plenty of other places qualify, maybe not as warm in the winter, but even in Florida in the winter you don't want to swim, too cold. There's still Georgia, South Carolina and Alabama→Gulf Shores, Orange Beach. Of course Florida has no state income tax.
This is an eye opening comment.
Oh yeah. My husband and I lived there for 25 yrs. My husband started his own business, and after about 5 years or so, we did pretty good. But even with that we left when we were 50. Looking at the way things are now, we would have never been able to retire down there. We moved back to the Midwest. Nothing is cheap anywhere now days. But everything is cheaper where we are now. We are in our 60s and my husband is still working.
@@BigBirdy100 South Carolina isn't all that cheap in certain parts. My daughter lives there. But it's still cheaper then Florida.
I'm a graduate of riverview high school majority of my o7 class was pushed out of Sarasota years ago..
‘93 graduate here. Go Rams.
There are no high pay jobs in Sarasota. Wages are so low; incredible low. Know about a person that has a Masters degree in engineering and the job offers are extremely low.
Sarasota is a retirement town, which is why there’s no high paying jobs there, because people there don’t work. And although it’s still not a lot of money, their median income is still a good deal higher than the national median income, which is impressive considering there are so many people there who don’t work because they’re retired.
@@johnmartin4641 Absolutely true. I just wonder who will be serving them and caring for them when the workers won't drive 60 miles to get to a job near then. Florida has always been a hot bed for retirees.
All of FL is lower wages in all sectors.
The word “affordable” will be erased from the minds and dictionaries very soon
If there there is a severe labor shortage and far fewer people working for no low income the Baby Boomers are going to get screwed hard trying to find and maintain in home care givers to age in place in Florida and else where. That’s a major problem most BabyBoomers are going to find themselves severely caught off guard when start needing assistance. I’m predicting the nationwide caregiver shortage to really disrupt the housing market.
Robotics, AI will fill the gap.
Absolutely right Mark. Caregiving shortages is going to be a huge issue. We will have to have much more immigration in the future.
@@AJourneyOfYourSoul Those new immigrants won’t speak allot of English or fill the experience gap and skill levels to be in-home care service provider. To really understand this problem is to get better informed. The Baby Boomers are going to to find out the hard way it’s not all about having money but enough human resources for those positions.
ICU/ER RN. Normally I'll have 2 ventilator patients in ICU, during the pandemic I had up to 12. I had to wear diapers under my scrubs as I couldn't get to the bathroom the patient load was so horrible. I quit my nursing job of 20 years as it was killing me. From that glimpse of what it will be like as the boomers get sick in a high retirement area will be the same thing. I bet they start flying the sick out to other communities that have medical staff to care for the Florida retirees when they get sick.
@@1powerequalsgod Jamaican and phillipino speak English and can be trained. The problem isn't finding people, but the wages are too low to keep the good ones. I've been a caregiver, but couldn't afford to stay. Companies pay very low while charging over $20 ph to clients. With housing so expensive, workers can't live near their clients. Zoning has to change to allow multigenerational properties. Most residential areas will not allow a studio added to a home.
The real issue is that our country imports most of materials. The only way to fix the inflation issue is building a country which can sustain itself
The real issue is crappy wages. When workers are getting 13-15 dollars an hour while the executives get bonuses of millions of dollars-It creates an unfair line of people living off the backs of others. Wages have been stagnant the past 20 years while houses have gone up exponentially
Sad that the politicians destroyed all that.
@@dougfoster445 Globalism and open borders sure are nice for big corp, yet people keep voting for it. You can’t fix stupid.
So affordable housing for cops nurses etc are important but those that clean your homes wait on you and work at Walmart and target can live where?!! Service industry workers keep Sarasota tourism industry thriving. I suppose you assume they can live in some Tampa Bay ghetto and drive there.
There isnt enough public money to do this for everyone.
Can I get an AMEN!
They’ll just get Biden’s illegals to do those jobs.
You're comparing what they must have with what is nice to have. If the low-skill population start to move out of the area, it will help the small number that stay as their wages will increase (less supply). The problem is there are too many low-skill laborers so the overabundance of supply is driving your wages down.
My girlfriend and I can no longer afford to live in Florida. Our rent is going up again at the end of the year and we already pay $1450/month for a 1-bedroom apartment that's 60+ years old and is falling apart. North Carolina here we come!
Get married stop fornicating first of all.
@@jasonrabe1664 you don't get married in this modern day. It's nothing but risk for men and there assets
I’m from a midwestern city. It’s so hard to make affordable housing with high construction and labor costs.
GREED
There goes my dream of living in Sarasota….. 😢 I love Sarasota 🤩
If a house has been in your family for years, and you can not afford it, you are doing something wrong.
2 major home insurance companies recently stopped providing coverage for the whole state, when home insurance is already difficult to obtain in FL. Many areas also have to purchase a separate/additional policy specifically for flooding due to hurricanes and low lying areas. And property taxes literally doubled in 2020 and doubled again 2021. If you're retired and on a fixed income or grew up here and work in the service industry, it's difficult to keep up with the rising costs. Especially when the wages aren't keeping up with costs. Add pandemic job losses/lost income for a time, companies raising prices on goods and services to recoup their losses during covid, and the current gas prices and general inflation rate on everything.... Yeah I can see it.
@@amandadean2623 Just stop trying to "recoup" losses and move forward. I hate when land "lords" keep saying they need to recoup. The past is PAST! Mr. Land "lord" you can't go back in time, just move forward.
@@perpetualmotion8090 you made the wrong assumption on that one buddy! I wish I owned multiple properties here on lido key and a few on central and MLK for good measure. I was a first time home buyer yrs ago. married for 22 yrs with 5 kids. I would like to downsize and pass my home down to my 21 and 18 yr old children but they can't afford the costs. Even with good jobs like mechanic for waste management and an assistant manager of a major auto part chain store. I am not the greedy one here! I
@@perpetualmotion8090 landlords have bills, too. Especially since so many deadbeat renters have not paid rent in two years. Buckle up, squatters!
That's so cool that this started by you thinking something different about my post. You are absolutely right and I think we might be the same people and I have been saying I'm feeling the 2008 coming for a while now.
This isn’t accurate… a STUDIO apartment is $2000/month at the moment. DON’T move here!
We shopped around some new communities in the area this past summer, and townhouses that werent even built yet, were going in the upper 300s!!
The problem is exacerbated by the acceleration in number of multiple property owners as well as the number of their holdings.
Um, Sunshine and palm 🌴 are luxury living ,it's always cheap in Ohio, st Louis!
This is what happens when greed is more important than human life. Live on the f'in street if you cant afford d a $2K one bedroom on your blue collar job. Rent control and limiting big investment firms from buying up the stock of affordable home would be a start BUT I really dont think our elected officials have a genuine concern when it comes to human suffering. Welcome to capitalism gone awry.....
Example: My mother - a widow with 3 young kids who worked full time making $2/hr - sold our 2 family Boston house in 1975 for $36k. A couple of years ago, a very similar house on the same cramped street went up for sale for $1.3m. Not a price any of her kids or any of our friends or family can afford.
Yes .. It is the working class keeping it going .. Lets not forget that ! Its ridiculous !
If you are making "minimum wage", you aren't going to be able to buy a house anywhere. Since when does minimum wage cover a mortgage? These people are experts?
There's no need to fret about the housing prices, it's ALL about to implode. Good luck
0:25 "A warning for the rest of the country", what? They have to be leaving somewhere to go to Sarasota. That means price has to drop in one location for it to rise in the other. Every buyer has to have a seller. Watch out "rest of the country", the 57 year-old's are coming, and they are going to bid up your housing! This hysteria over prices in Florida is going a bit far. 1:10 "Homes for people at the minimum wage", what? When ever, has a min wage earner bought a home in the United States? Never. When I was making it at $3 an hour, I could not even afford lunch, much less rent an apartment. More hysteria here.
Pretty accurate!
I own a house in Michigan and Florida. It’s crazy everywhere not just Florida. Houses in Michigan are just as high if not higher. My 335k 1500 sq foot caged pool house would sell in Michigan for probably 300k, without the pool or nice climate. There’s even a bigger shortage in Michigan I think.
Valid points
There was a time when minimum wage people could afford housing in Sarasota. I have several friends that did & still have their homes. As the popularity of Sarasota gained over the last 15+ years, that dream became harder to achieve. Now? Forget it. Affording rent from a 1B/1B is out of reach for many.
@@waitaminute2015 It is a sad state of affairs for the younger generation. But "gubmint" policies and public school "educators" are to blame for the dumbing down and 2nd enslavement of our young "sheeple". We deserve what we vote for. And we got it, in spades, with this "administration". Our youth are living the left's "nirvana utopia". "Be very careful what you ask, (vote), for, cuz you might just get it".
Not to be funny … but there was a 2 year break on rent due to covid .. tons of people abused it. These Landlords have had enough.
My parents moved to Miami in 74. Been here ever since and it gets harder every year to survive here. I was lucky to have been hired by a company that requires I travel making almost mid 6 figures. It's not easy though for I am separated from my wife and it's taking a toll on our marriage. We bought a lot in Port Charlotte and we are having our sea wall built. Should be done by summer. We will start building our home in "23. God willing.
Sarasota was always more expensive in the house market. We looked into that more than 35 years ago. Couldn’t afford then and now too old to worry about a mortgage now.
So glad I own my grandparents property and it's paid off
I own my home and 5 rental properties, I'm afraid my grandkids will knock me off to get free houses.
"I think it would be more appropriate to say what's the blame, rather than who's to blame, and it's the market that is to blame." ←is that all you got? How about asking the tough questions like..Is there any relation between home prices and quantitative easing? The Fed Reserve is who to blame. How about talking about where the rubber meets the road?
The market is created by people, government inaction, poor oversight, poor public policy, greed, greed, greed. Oh, let me add greed.
US is a big country! Better places than overcrowded and problem plagued states! Look elsewhere for cheaper homes and far better healthcare!
Mexico is great, their doctors work for cheap and their property is cheap too. Great food, warm weather, and a SSI check lets you live like royalty. Hurry and move before they build a wall to keep American retirees out (and make America pay for it)
Not everyone can or wants to move tho
You can retire confotably in Latin America
Michael Paluska is so handsome. It would be good to support affordable housing for working class people that offer services to the local community. As they said, teachers, nurses, firefighters that keep the community alive.
Supply and demand. Paradise isn’t cheap or we’d all be there
I’m trying to move out 😢 one bedroom apartment is over 1,200 so it’s harder for people my age to find a good apartment. Ima just work more and save more
Buy a piece of land and live in a motorhome.
I was wondering if anyone cared about us. 7th generation sarasota/Myakka girl with no home of my own. Can't afford rent now. My 17y daughter my husband my corgi and I are squished into my mother's small living room where we all sleep. We all work, except the corgi. Still cannot afford a rental unless we go on welfare. Does that make sense?
I'm so sorry to hear this! But I don't think these prick boomers give a rat ass about you or anyone struggling!
We had a nice 3 bed 2 bath house we rented for almost 5 years then this year they increased another $200 on top of the $1400 we were paying. 4 months ago had to move out and can't afford any rentals now.
You are not alone! I wish Americans would band together and boycott rent nationwide. It's cruel what is happening to the working class and the only way it stops is if more people quit the system. That's why you are seeing supply shortages everywhere. It's not just the insane cost of living but also the vaccine mandates. It's too much, people are reaching there breaking point and when the weather starts to warm up I am concerned we will see some real hot flash points around the nation.
@@arielmatinez 🤷♀️🤷♀️🤷♀️ not mine or anyone else’s job to make sure Linda and harry down the block did the right things in life.
i know it sucks but check out Venice or Bradenton you shouldn't have to move there but with the current circumstances might be good options venice would be my first choice ot of the two i almost like it better than current sarasota
When the residents start having to haul their own garbage and mow their own lawns, they will move out and then the recession will hit!
I’ll tell you a good place to start. Impact fees, unnecessary regulations, property taxes. Of course I’m just recommending these for projects that qualify for work force housing. It will be impossible to control the cost of materials and labor but the things that can be modified should be.
FYI.. Just as many are moving out!
Stop calling Florida paradise its a huge hell hole
I wouldn't live there because of all the hurricanes.
I form sarasota. Its a shit hole.
I love my clean , safe and beautiful sexy Lil city!!
My parents moved to Miami in "74. Been here ever since. I was lucky to find a job by a company that requires I travel.
If you're smart you would NOT want to live here... we have horrific red tide events the last one lasted 18 months and just like the long haulers with Covid symptoms we have long haulers with red tide symptoms and now they're linking red tide exposure to cognitive disorders. I still have a cough I cannot shake.
Look at Hawaii, in a very short period of time the tourist will have no one there to provide services. Because those providing service can no longer afford to live there let alone housing.
A great place to spend some money!!! 2022
A 2000 per month apartment maybe high in Florida, but it is the norm in NJ, NY, Hawaii, Calif, and in some parts of PA & it has always been.
Ms. L. Churchill
How in the world can people afford to rent a 2 bedroom apartment for $2000 or more a Month. I have a newer 2 story house with a fully finished Basement in a very nice neighborhood, and I cringe at my mortgage payment being $1670 a Month. And I make a decent salary in the $80K range. I couldn't imagine renting a small apartment box for that much money. Granted I did put $50K down on my home to get the payment in the $1670 range for 15 year mortgage.
Well of course its always been that way in Manhattan!!
One man's 2k is not the same as another. An apartment in most of Florida for 2k is insane. The wages just don't support it here. You're talking about states that have much higher wages, hence why 2k sounds affordable to you. Most of the states you mentioned have already had their minimum wage around $15 for some time. FL just got to $10/hr 6 months ago from $8.50 for many years. Florida is mainly service industry and tipped employees just got $6.70/hr. Up from $3.21/hr for years.
How about raising wages and stabilizing property taxes
Had a bad first marriage for 7 years. 19 years old to 26, then finally divorced and met my wonderful husband now and we've been together for 19years. Had bad experiences being left with strangers when I was a child so when we had our daughter we decided that I would stay home with her until she was old enough for kindergarten. So we had very little income. A friend of ours that worked for delta airlines was a single mother with 2 girls around the same age as our daughter had bought a house in sarasota and offered free rent if I took care of her daughters while she was in travel 4-5 days a week. A good deal for about 5 years so we weren't ready to buy a house b/c technically I had no income. Only my husband and it wasn't enough. Then my younger brother had a brain aneurysm and needed to be taken care of so we moved to north port to have him live with us so I could take care of him. Didn't think his progress would be so slow but it took 5 years for him to finally be somewhat self sufficient. Now that I don't have to take care of anyone and I'm working at Publix for $13.75 just last year, I'm ready now with my husband's income and mine to buy a house and now the banks won't lend to us and the housing prices have skyrocketed we will probably not be able to buy for a long time, if ever.
Kings have been put in place. Satan is on the way
The last time I checked, the number of ppl moving to FL was nearly the same as the number moving out of FL. The housing market crashed before, and most likely it’ll crash again. That’s when u buy. In the meantime, mobile home parks are being bought out by Berkshire Hathaway, which drove up lot rents to $800 or more a month, making them no longer affordable. Greed is what it’s about.
Look who your Governor is. That should be all you need to see to say. Oh yeah.. that’s why nothing will change.
We are being thrown out of sarasota and the local government is behind it!
You have to make 25 dollars per hour to live here and thats per person but the service industry only pays 15 dollars per hour.
The government set the financial relief at under 55k for state assistance so the middle class is screwed and that means when you are thrown out of your home a retired rich person takes over!
I have lived in Sarasota,fl for over 16 years and now i am loosing my home and the state says its not their problem!
Middle class is screwed!
You find a house for 2,000 around here it does not exist. Rent is double that. Not sure where those numbers are coming from because they are highly inaccurate.
The inability to afford to live the city where you grew up is *NOT* A NEW PHENOMENON - I'm a 3rd generation Bostonian who grew up in a working class part of the city in the 70s. NO ONE in my working-to-middle class family have been able to afford a house there OUR ENTIRE ADULT LIVES. ALL of us are economic refugees who fled to cheaper states - even though we didn't want to leave.
This is what happens when crony capitalism is fueled by cheap money by the fed for years. Institutional investors have money to burn 🔥 and the public can’t earn against it.
We can’t keep up with the demand and stay alive.
Employers here will not pay the wages to afford to live here I'm about ready to leave myself been here for 24 years Hanging On by a thread
Too many people on planet earth
nah, they just need to spread out.
@@yrmthr true
Absolutely right - self-centered people like to blame politicians, billionaires, illegal immigrants, everything but themselves. Too many people - if you are poor and can't take care of yourself, do the world a favor and don't have kids. Everyone's quality of life will increase if we reduce the population, add the bonus of saving the planet and ensuring humans are around longer. Less is more. Yes, we need service workers but not at the numbers that exist today - reduce the supply and the ones remaining will be paid better.
My grandparents moved to Sarasota in the mid 70s. Paid $15,000 for a tiny 3 bedroom home on Loma Linda over by Sarasota High school with window units for a/c. Today with hardly no updates the house is valued at around $300,000. I also remember when Siesta Key’s public beach parking lot was sand and shell, walking on paths with tall vegetation on both sides to get to the beach . Now it’s all concrete and transplanted crap. 1-800 Ask Gary isn’t helping with the god awful looking mausoleum he built at Point of Rocks. And then throws in a crappy ass reality tv show to add insult to injury.
This is what happens when one state, Florida, is so much better governed than the rest of the country. People call Florida the "Free State." I almost moved there from DC; instead, returned to my hometown in rural Illinois. Very happy to be back to my roots, but Sarasota seemed like Paradise, as described above.
You can no longer afford to live there
Jennifer this is why I always mock Trump Trash like you. Housing costs are always a function of supply and demand. NYC and CA have some of the highest housing costs. I don't remember dimwits like you claiming that's because they are so well run. Lol I am sure the poor Trump Trash can still afford the panhandle where the Jesus Freaks dominate.
I am from Sarasota, fl and it sucks. Enough said.
@@criticalthinker8953 Exactly. Jesus Freaks are bad.
Sincerely,
Hitler, Stalin, Mao and Pol Pot....
Please stop coming to Florida no matter your reason for wanting to come