Price of Paradise: Reasons for high housing vacancies in Florida
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- Опубликовано: 5 апр 2022
- According to the U.S. Census Bureau, the state of Florida leads the nation in empty houses. However, just because they are not occupied, does not mean they're not owned.
16million vacant homes nationwide....we are 5 million "short"...you do the math. The taxpayers better not bail out these jerks...
Liberals stop voting for free handouts and BIG GOVT … blame the Govt not investors …. If you had the means you would do the same ….
If they do ill be leaving for sure
Yes, I really wish I could withhold taxes in protest of what my country is over generously doing with them...
(We're meant to trust our government but they haven't earned mine!)
House and Senate should have term limits, salary cuts and a huge dose of corrections by the people, for the people...✌️❤️
(Note: I've said it once, I'll say it again... Can we please do something to investigate on having Rick Scott STILL holding a seat in our senate and governing over the state of Florida after his being accused of the issues of the unemployment system--whether directly or indirectly, how can we allow him to remain in his position after claims of "the largest medical fraud" in history AND $77.9 MILLION DOLLARS FOR A INTENTIONALLY BROKEN UNEMPLOYMENT SYSTEM FOR THE STATE OF FLORIDA-- even if you want to look at the best case scenario--if he made these in bad judgement/bad decisions, I don't think he should be in our state Senate-- clearly his morals and ethics are questionable to say the least....
(Until 2024--WTF!?!?)
@@charityalcott7317
I could not believe he was voted in as Governor...
Not to mention so many of the really tall expensive buildings in cities are empty on the higher floors because it's all for show and a complete waste of money and resources.
This type of practice needs to be outlawed. It is very unethical what these investors are doing. Everyone needs a roof over their head and it needs to be attainable.
Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
I don't understand why everyone is complaining. Nobody is forcing you to buy. I wish everyone who wants to buy a property RECONSIDER NOT TO BUY. PLEASE DO NO BUY. THESE PRICES ARE RIDICULOUS. I wish the buyers choose to live with a relative for a 1 year or 2, pay relative a reduced rent. Then you will be able to save money until home prices make SENSE. IT WRONG AND STUPID TO PAY THESE HIGH PRICES JUST BECAUSE YOU HAVE THE ABILITY TO BUY IT. LET'S TEACH THEM A LESSON TO THESE GREEDY PEOPLE. DO NOT BUY. LET'S SHOW THEM WHO IS BOSS.
@@brainard30 people want to buy so they don't have to pay the high rent that keeps going up. They want to buy now while the interest rate is low. Not everyone has a relative they can move in with.
This is your capitalist nation.
Yep that's why I refuse to buy right now. I belong to several different home buying sites. People are paying over 20-30,000 over asking and people are paying it. 🙄
I love how they tell us that the market is being manipulated for the time being then immediately turn around and say “here’s some tips, act fast! Spend above the asking price!!”
LOL what!? How about be patient and wait for things to stabilize?
Exactly! This news clip is double talk !Clearly giving advice that will basically fulfil the investor’s strategy.
Because people still need a place to live.
It's as stabilized as it's going to get. Prices ARE NOT going down in Florida, I can assure you of that. It's the next California. And once a hurricane hits, insurance will go thru the roof
@@mikegeee3319 I predict this comment won't age well! People talked like this during the last bubble too
The liberal news media is shit all the way around. They screwed Trump and the rest of this country so we could have an incompetent President in the WH. 😡
you guys missed one good reason why housing is very expensive. There are outer States investor that are holding these houses to the highest bidder just like it is in Key West. Example, the place that I and my husband use to stay at was brought out by a group from Colorado. First they jacked up the price per night then they were trying to sell the place for over 4 million dollars. It sat there empty for 4 years! Most of the blame falls on investors from outside the state of Florida for the high price to buy and to rent.
Because federal govt allows investors to write off the mortgage and interest as depreciation as if its a piece of business equipment getting wear and tear - even when the value of said equipment (the house) increases not decreases.
No I hear you. Common sense if you travel we have seen it. I know. I wrote more comments because as usual discussion becomes political and that is fine just time consuming.
However we really do not need others flooding our city and state. They came for reasons in the last couple years and hope they leave soon because those reasons for coming are going to reverse. They should go home to fix their own dismantled cities & states. That's all. And yes to whomever suggested a rate tax on those owners whom are investors w an empty home. See in comments.
Nice to know people ignorantly comment on RUclips and point fingers with no given statistical data
@@Blaze6432
Whom are you referring to?
Blame the Govt --
If you live in California, Arizona, Texas or Nevada you have seen rent triple
@The Majority Speaks I lived in Glendale. The govt needs to regulate rent and adjust it accordingly to the local areas' average wages. Offer more ideas for buying, such as apt selling like they do in Europe and Russian. You can buy a decent apt (what we call condo) with nice amenities, basic but nice, for under 15 grand. Turn the abandoned malls into this concept for middle class singles like myself, we're becoming a larger demographic in populous. Change antiquated loaning methods to make sense, I ran into problems that truly didn't make sense and really just seemed designed to eliminate you and keep people from improving their life despite having paid their dues and sacrificed beyond comprehension, I can say full heartedly I have and it took me almost 15 full year's to do beyond under poverty level odds. There is not enough emphasis on middle income service workers the community needs but won't house. They build low income, they encourage out of state vacation secondary ownership, slum lording, everything BUT what they should be that bring stable tax revenue while also providing caring members of the community that contribute immensely. There is so much that can be done but I don't see anything on Biden's crew taking any initiative, they are ignoring the wasteland homeless nation they're supposed to be serving and representing. Canada banned foreign investor's for two years, should be more like permanent!!! Why just two years??? If you're gonna bother to change a shipwreck, it needs to be sustainable to see through to more positive outcome in years to come. Our govt needs to follow suit but make it a permanent BAN, along with other changes which this old fart administration seems opposed to change that will promote healthier quality of life and fair opportunity for those who truly worked to earn it.
@The Majority Speaks You can rent a "room" for 1k in New York and Miami
This type of house buying by investors should never be allowed.
Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
Why? Government inflates away the value of the dollar , the only chance of preserving your past efforts are assets. Real estate is a great asset to own. No way limits should be imposed on ownership of anything. IMO you can only own three pair of socks !
GREEDY INVESTORS!!!!! LET the house sit and ROT!!! THE PRICES are RIDICULOUSLY HIGH.....
Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
@@jesuslover5968 MY relationship with Jesus is personal,, Everyone's should be...
He has never FAILED me!! YOU must be a investor...
@@janicelumpkin601 no I’m not an investor. I am a follower of Christ. You need to have a strong enough of faith to know he is all you will ever need. I will pray for you🙏🏻 God loves you and he will never fail you. Don’t give up on him. This is just a test of faith.
@@janicelumpkin601 don’t understand what you’re complaining and crying about. You sound entitled and lazy. Stop acting like a Victim. You are not a true Christian because of you were you would be grateful for what you have. You aren’t praying enough or have a strong enough faith. I prayed and god answered my prayers he lowered my rent by 50%. He will set you free. Surrender and Give your life to Christ
@@jesuslover5968 "give to the poor and you will be lending to the Lord"
Heard other countries tax the crap out of people holding on to empty homes...
Canada just passed a law that prevents non citizens from buying homes there.
@@raylemar2386 I think Australia has that, too.
I’m usually against government taxation but this makes sense. Live in it or pay the price or sell it. And also disallowing non-citizens or corporate buyers from purchasing any property.
Our politicians are so corrupt
But the right wings will called that red tapes and socialism. You know those people with red hat!
Blame big corporations like black rock for this problem, it’s the same thing going on across the whole country
This is sad and should be illegal everywhere. These companies do this, meanwhile people and others judge and look down on those living on the street or on gov't funds. How are people supposed to get better with this type of stuff stacked against them.
This is why I believe it's all deliberate. As hard as it is to have to think your own government or own human race could be so evil, I think the government is trying to purge us by a number of means, one being homelessness.
As long as they can keep the homeowners hating and dehumanizing the homeless, we will practically wage the war on ourselves. The 1% just has to sit back, print money and let inflation starve us out.
Agreed!! As in A - GREED! Get it!? 💲💲💲💲💲💲
It is sad for many people who want to own a traditional home...but with so many alternatives, I wouldnt waste my time. Can you say CO-HOUSING!?!?
The president needs to do something. This is ridiculous. It should be against the law
That's exactly what I was thinking 🤔 it's time for the government to step in!!!
Dumb comment … the govt makes everything worse
The president 😆
He listens to the highest bidder.
that's what you get when you bail out the same people who caused the problems!
this is 2008 part two.
land of the greed and home of the slave. Everyday the billionaires take more of what belongs to the people.
They are laughing at me and you.
Time to start squatting empty investment houses!
I agree.
Absoutely
Thank goodness I'm leaving FL. tired of this clown show FL
This phenomena spans the nation.
@@WagTheTail that's true. very sad, and to make matters worse inflation is getting bad
Bye be poor elsewhere 👋
@@Eman1900O I totally get you, I am in NJ and same situation
Wish I could afford to leave . I lived in NJ and PA - they trap you here with sucky pay and no worker rights!
Real families cant get a home these days because investors are profiting of of housing. A basic necessity. It is called a single family home for a reason! It is not a Multi investor home. Housing and healthcare should not be for profit!
People can rent ….. people have always rented ..you would rather have a small mom and pop landlord then Govt housing to rent from
@@lcr2382 but that problem is so many investors buying up housing to rent out, thus reducing supply of housing and making it unaffordable to buy and forcing people to rent. It's parasitic. Many of these are young people would have normally been buying their first home, but now have to rent it because the price has been driven up by investors taking available homes off the market.
I agree 100%.
Exactly! But guess what? - these people are greedy af ... Pure evil selfishness. They figured out the two things people need to exist happily and they hold it over your head and laugh and laugh as you die in pain in an alley somewhere.
I concur
It's crazy there's over a million empty houses in Florida but there's many without a home. While investors buy up all the homes and upmark the price where the average working person could never afford it. Horrible.
We get calls every single day about people trying to buy our home. It's just silly.
Exactly silly.
Not only phone calls but also Mail from realtors!
My father was dead one week and they started calling, to buy his home, I was shocked. No, I didn't sell it and now own it, but two years later they still call. Had one ask me why we needed two homes 🤦.
You should ask them why they need whole neighborhoods
Shoot them a price ten times what it would probably sell for, they'll leave you alone after that.
Same here. My dad died in Feb and those vultures keep calling my poor mom. ..I tore one a new @#$ , told them we won't sell to any company or Investor group as they have RUINED Tampa Bay with their GREED..
@@LetsDanceTampa part of me is worried they will switch to even more nefarious tactics, since it seems like they won't be happy until every single person is a renter.
You need to tell them it’s none of their business how many homes you own. If it’s not for sale it’s not for sale!
Don’t worry folks, I’m in South Florida right now and everything looks just like 2007! Everyone has purchased houses with 5% down and it’s going to turn into a house of cards just like 2008!
No homes on sale in South Fl??
@Phil DeNuss bull shit? Cash means you are pre approved! South Florida has been a sea of dept for years! Do you remember 2008? Everyone lost their homes because they paid cash for them? That’s right the banks foreclose on homes with no mortgages!
@Steelers All Day I came from PA in 2004, now I'm stuck here, wish I could leave this sh*thole.
Investors should stay out of family homes and neighborhoods. Invest in cities (commercial buildings) and real estate that needs to be updated or torn down and something new can be built.
Factories...there was a time in this country that people built factories...
people you have the power to vote, exercise it.
It’s better to be adaptable and adapt to changes. Those politicians are not working for regular people. Doesn’t matter what side. They helping business more than regular people. Regular people getting played.
If you're a person of color your votes are being purged off the system in the millions due to voter suppression and other tactics that should be illegal.
Hard to vote for something that isn’t on the ballot.
@@areyoujelton 💙💙💙
Florida has High rent and low wages so where is the paradise 🙄
More importantly, it has 80% humidity, alligators, a trillion bugs, and crappy schools.
Seriously. Florida a paradise? Lol. Then what is Hawaii?
DuhSantis!
Out of staters made florida unaffordable. stay home
No different than New York California Massachusetts Connecticut you name it it's like that everywhere right now. Forget about Hawaii! Florida's a bargain compared to Hawaii
Sounds like we need some legislation to regulate these investors. This is not stocks and bonds, these are homes and people's lives are being wrecked by over inflated home values while these investors sit on empty homes.
Before you demand legislation against free market, I'd ask that the news report show actual documentable proof that their "theory" is correct. I didn't see any statistics in writing. Usually stories without documentable proof are fabricated.
@@victoriawitherup2342 Of course, I would agree. But if you think about it, if this wasn’t part of the problem then such legislation would make no difference. They have released some numbers that there’s close to 2 million vacant homes across the country bought up by investors and no one is moving into them, they are just sitting vacant. In a market where homes prices and rents skyrocketed. Still, I would agree the data needs to be verified in order to pass legislation.
The good news is that big stakes holders like out of state investors are going to lose their shirts in the housing crash, creating a discount liquidation sale.
how confident are you this will happen?
I don't think so , these corporations are ententianial hoarding home these homes to pretend they aren't making any profits
Rates will rise and housing prices won’t drop. The banks will start giving 40-60 year loans to people. Remember according to the world economic you were own nothing and be happy.
Hope these investors end up with "Fire sales" and have to abandon,liquidate it all!
Don't count on it. They always sell before it crash. That is what they do.
Guys do the opposite of the recommendation he suggested. Prices will com down
Yup. Every single time.
What did he recommend?
Exactly! The recommendation of putting as many offers above asking price as you can is just absurd
It’s like stores when they say “SUPPLY IS LIMITED” it’s the only thing that’ll keep this machine going. Our demand
@@sssssssss111
Yea...well I need my diet coke 😊 and that is in high demand. I could have worse addictions. Keep those truckers going and everyone else in our country. 🇺🇸 WASH YOUR HANDS AND TAKE OFF THAT MASK!!!
And when u check out information to rent a house average price is $2,800 for a small old 3/2
This is why we need REGULATIONS!! Federal and individual state governments need to step in. At this rate, in less than 10 years investors are going to own over 60% of the market and this will make the situation even worse. In some cities, these investors are buying up all the homes listed for sale without even seeing them. They don’t flip them, they relist them immediately for 20% - 30% above market value or they rent them out at exorbitant rates. These corporate investors even own 80% of both new and established neighborhoods in some cities! They have all the resources and power to manipulate the housing market. This needs to stop. This is more than out pricing potential homeowners; this is gross abuse of ethics across the country. These corporate vultures are destroying the middle class. Generational wealth and assets start with homeownership. But now, the housing market is now just another capitalist market to be reaped, exploited, and controlled by the elite and powerful but it wasn’t designed to be this way at all. Homeownership was designed for the middle class. The middle class is being played by these corrupt investors. They’re being absolutely ruined and screwed over by these companies that make buying up homes and influencing the market their entire business practice!
Email, call, or write your representatives and senators in both state and federal congresses.
Very well spoken and you are 💯 correct.
It will change. Zillow stopped. They were losing money. The government cannot regulate who buys property either so we can whine but there’s not much one can do.
Yes, we need more government regulation just like out in Californuts. Look how well it works out there.
You will own nothing and be happy
Not only is it extremely expensive but the rental criteria is more than if you were buying a house like wtf
Canada is about to release a law to protect homebuyer to some extent from those situations hope the US will do the same or all houses will be owned by private rich investors and families will be screwed
Seems like too much damage has already been done tho right? They would have to not only regulate, but also seize back a lot of properties from these corporations and investors, who they are in bed with anyway.
Yeah, and when the housing market collapse in Canada kiss goodbye to all the taxes generated as a result of real estate and say hello to the great economic recession.
That’s ironic since Canadian pension funds are buying entires neighborhoods in Arizona as investment rental properties.
And we will finally be the serfdom the Republicans desire.
Canada is a little late to release a law now
Save your money in bank account cause when bubble pops u can buy it for penny's on the dollar
This is inflation…
Yeah but the dollar is supposed to go down in value too
With interest rates going back up, savings accounts can earn a few more pennies I guess 😅
I'm confused, why are so many people buying homes here if they can't get the home insured? How is Florida a hot housing marker with record vacancies and home insurance crisis at the same time? Please do a story on that cuz I'm genuinely confused.
I’m curious about the home insurance crisis that you mentioned. What is happening with that? Why is there a crisis?
If you don't carry a mortgage then you don't need to carry insurance or if they do carry insurance it's minimal coverage liability type only .
Real Estate investment trusts don't need to buy insurance because they pay cash.
@@nf2885 Lawyers and roofers are suing insurance companies over things that should be maintained by the home owners (think tires on a vehicle). There's a lot of fraudulent lawsuits also (sink holes where there are no sinkholes, hailstorms without hail). As a result, insurance companies increase their rates, drop customers, etc so they don't go out of business. Insurance companies have begged the governor to help but he's too busy with trying to win the next presidential election. 🙄 It's a sh!tefest here. 🤬
@@willieverusethis That's another law that needs to change.
Sometimes when I go to a supermarket they have a sticker in the shelves saying " sorry for the inconvenience but you only can buy one per person due to lack of inventory" why is this not the rule for the housing market? Lol.
Because that would be socialism.
@@dontbanmebrodontbanme5403 its not socialism, the government doesn't take ownership of the property. Learn what socialism is please. Capitalism needs controls, which we learned from the gilded age, its about creating equal opportunity not outcome.
You can use different buying entities
Socialism is evict people from houses and then have the government help them, and is what exactly is gonna happen while all those sharks investors continue their business.
@@bubba6989
Why does capitalism need controls? I thought capitalism is a good thing. At least that's what republicans have been saying for a long time now, right? We don't want to become Venezuela!
Now you say limiting who can buy something isn't socialism, but according to the Oxford dictionary, socialism is,
"a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole."
So among other things, it is an economic concept of controlling the distribution of something. Sure, maybe I'm stretching the definition a tad, but I did it to make a point, which is that capitalism run amok is no better than pure socialism, and we need a balance of economic ideas, with checks and balances, in order to get results that best benefits society.
Need legislation on this ASAP.
Our cost of living is out of control, while incomes are slowing. With the burden of debt, we can't afford houses, especially in decent areas. "Bid above asking price?" Yeah, right. Huge pieces of property will be owned by fewer and fewer people, while the rest of us rent from them.
Lords and peasants
Now your using your head, because that is exactly what property investors are looking for a way to make money by charging snow birds high rent and the snow birds are seriously infatuated with Florida they are still packing the Florida airports, once they heard the state was open during the height of Covid they've been flooding South Florida ever since, trust me they will rent.
The World Economic Forum “Great Reset”
YOU WILL OWN NOTHING AND BE HAPPY 😊
lmao time to fight back.
it's tough to live down here in wpb fl, even studio and one bedroom apartments start at over $1000, We have families living with families just to cut rent in half, the living cost is OUT OF CONTROL to the point I'm losing my mind.. I'm heart broken about how expensive living cost is, we work so hard and still struggle, we live under constant pressure about keeping up with everything on top of rent cost, I know I do. The rich people, the state and rental owners just don't understand how hard it is to get by or to save money, at this rate Crime will go up sooner then later because eviction rates are soaring through the roof.. if I didn't have two kids I would find a way to live homeless instead of spending my last dollar to an apartment owner and I'm just being honest.. alot of these people we give money to don't care about lowering prices to allow us to live confrontable , hell some of them are just money hungry and rotten hearted people. I wish God can help us fix this issue not only in wpb but Nationwide. Living cost and minimum wage is a focal point, I feel like living cost should decrease and can decrease but we need to come together Nationwide as People, like what's wrong with decreasing rental cost Nationwide by %30 & also essential things we need in life that goes from anything from and I'd card to car payments and insurance companies, alot of these places we need but alot times your paying hundreds of dollars to drive your car . Sometimes I wonder if God was a person and become over the Senate's and congressman how much would living cost decrease? Like on everything essential to living and living cost I bet it'll be more then my %30.. I WISH🙏 life tough man.. sorry for the long log btw.
Right 👍!
Plus broke people spend money -- if overall costs were collectively lowered, that money would likely be paid back into the economy as people would have a safety net and therefore, are more likely to buy things they want, etc.
Then MOVE...Florida is becoming California within the next 5 years...if you don't have a home then move somewhere that's cheaper. Alabama, SC, and south GA are much cheaper with lower taxes.
@@mikegeee3319 I love how you say that like it's easy...
Do you know how much it cost to move?
I grew up in Sarasota, it's all I know, and the circumstances of the pandemic have bled my safety net/savings account dry...
Honestly, I'm f***ed, can't afford to stay, and now I can't afford to leave either...
@@charityalcott7317 Look in Dothan Alabama...super cheap. Thank me later
You don't have to live in WPB. Move somewhere cheaper.
Don't buy from investors to discourage them.
Also, don't sell to investors (if at all possible), and perpetuate the problem.
Do not sell your house to an investor 😞
Yeah, if you have 10 offers, do you sort them by which are by investors vs home dwellers?
The realtors, investors and Zillow have been manipulating the housing market. There needs to be more regulations in the housing market.
how many of these are just being used as air b&b and such?
Local municipalities should add a 2% annual surcharge for vacant residential real estate. Good for the schools and good for police departments and fire departments. Now this 2% surcharge can be dropped if the property is occupied.
I like that idea as a native. 😊
Prove it …. Duhhh
You would make a great commissioner/council member!
So the homeowner who doesn't live there(2nd home) and still paying all the school taxes(with no kids) should pay additional $$?
@@hokeywolf3416 If they are 65 years old then a lot can be waived. Like they do in the state of Texas. However if they have three or four homes and they are empty than they can rent them at market value or even take a little bit of a loss or pay the extra tax. Right now the goal is to get as many homes on the market as possible.
Guess the flippers of 2007 are now investors because after 5 more rounds of quantitative easing, there's no need to renovate or live in them anymore. This is how we keep the government solvent.
Everyone and their mom is now a "real estate investor" these days.
This is how we make half the country homeless.
This FOMO ending is appalling. Wow.
More than 16 million homes are vacant in the US. That’s nearly 1 in 10 homes. It’s not a supply and demand issue
Then what is it?
Vacant can mean a lot of things. It can mean it's someone's vacation home, they are trying to sell it, this stat doesn't mean much
Airbnb
@@nicholasthompson7690 people get paid to keep their houses empty to drive rent up
Manipulation
Personally, it made me wealthier since I bought my house in 2014. Sold a for $420k when it was $118k lol. Bought land and a manufacured home. Debt free age 35, and now I work part time in a business I started. Traveling the world as a hobby. But yeah, it should be illegal what it happening, not everyone gets lucky like me. GOD BLESS VA HOME LOANS
And sellers are starting to turn down VA loan buyers. It’s brutal out here. You had good timing on your side. I guess I’ll wait for my next PCS to buy.
Thank you for recognizing that everyone today can't just do what you did. Too many people in your position spend their time trolling renters on RUclips
@@cosmicllama6910 he is a vet, he earned that loan!!
Wanna fix the overinflated housing market? Make it more expensive to own. Not for single-home buyers, but for second-home owners, investment property owners who bought when former homeowners had no other options but to sell and move to cheaper areas. Raising property taxes discourages investors holding vacant properties, and drives down housing prices when holding onto an empty home is a greater tax liability than an appreciating asset. At the least, landlords will lower rents to generate profit from currently vacant homes and that will more equitably redistribute resources among society using a free market economy. If politicians want to protect voters, exclude primary residences from increased property tax, and one could even use the increased revenue to decrease property taxes on primary homes. Votes come from voters, not empty homes. Out of state investors don’t get more than one vote even if they own the whole neighborhood.
“Equitably redistribute” that you Bernie
I think that is a brilliant idea
No bad idea nobody wants to pay even higher taxes on homes
@@gracelikerain5039I thought the original comment said that its not for primary residences but for investment properties?
@@adamvose2651 your right
Wrong. Get discouraged. All these homes are held by leveraged investors. Raise their rates!
Home is a place to live in ,not to speculate with
And 4) NEVER OVER PAY !!!
Not surprised by this at all.
You can charge $100 for application fees as a landlord and let's say 400 people apply that month .....and you have 0 obligations to actually rent it
Indeed.
One of the reasons I had to move to Mississippi after selling my home there was nothing I could afford as the homes forsale were way high for even the crappy ones I went from a mobile home to a brick home over 2000 sq ft. With 1.5 acres for way less the anything in Florida homes in Mississippi are beautiful an affordable
Alabama, SC, and south GA are all still reasonable as well. Not sure what the allure is with Florida but I lived there 15 years and didn't like it.
@@mikegeee3319 one word: DeSantis. After Covid conservatives are fleeing authoritative blue states
What jobs are available?
Yeah but now you live in Mississippi 🤢
@@mikegeee3319 Govenor doughboy DeSantis has been promoting with bs.
I will never sell my home to an LLC.
Our state had to pass a law to prevent anonymous owners from companies setup to purchase homes. This is how drug money is laundered. Of course China and others have destroyed the Canadian housing market and they have tons of empty condos. They had to pass a law against foreign investment to solve their problems when taxes didn't work.
I don’t understand what is taking so long for our government to do something
@@naturelover2292 Because they orchestrated it along with every other crisis back to back, in case you haven't noticed. Why don't we just help Ukraine and kick Russian ass, sure their propaganda wants you to believe that could bring nuclear devastation but the truth is that they contrived a war because Corona wasn't cutting it anymore and they needed a global excuse to jack up prices to archelies and beyond!!! They don't do anything about it because they're behind it/in on it.
I had been on the lookout for new builds in Jacksonville about a year ago and there was a community of brand new townhomes going up that were listed for sale. Just stumbled across those same houses being marketed on an apartment finding site…like, the whole community…being rented out. This is not a joke. These big investors are snatching these houses up like hotcakes & the ones that remain available for us regular folks are over priced for the size and popsicle stick quality. I’m tapping out. I’m tired. I couldn’t have had to relocate at a worse time. I’ll pay a 300k house mortgage payment worth of rent for a one bedroom shoebox for now & try my hand at home ownership when I’m due for my next relocation I guess.
Better advice, stay put and don’t bid over price. Find a way to pay a relative for the time being to stay in there home and wait for the dust to settle.
Maybe investment houses should face higher property taxes to discourage this? Out of control inflation has helped cause this malinvestment fiasco.
I've been trying to buy in a retirement community. I've been looking for a while, and I'm surprised to see that quite a few retirement places are flips. Some were updated but most were not. One house went off the market and came back at 90,000 more and absolutely nothing was done. Others are marked up higher than the regular market and they paid very little for them originally. Why was this allowed to happen?
That's how business works. Why can't you understand this. Buy something and sell it at a profit. It's called business!
@@OldTimerGarden I’ve had investment property 10 years. My current home was purchased precovid. My point was nothing is sacred. Our poor our sick our old are being crushed by so called business. This will not end well. Inhumane behavior should not be acceptable or be able to hide behind “It’s business “.
The Retrumplicans allow it to happen then cry there are no workers to fill low paying jobs which is half of Florida.
This is something that’s hardly ever talked about, but I will say this whenever a city or state is growing fast the cost of living is going to go up typically. Unfortunately a lot of times people who move out of California or a state they don’t like they hardly ever move to a midsize or small city, they’re typically moving to a similar but slightly to moderately cheaper big metropolis or state, and Florida and Texas are both true examples of those especially since they were the remaining cheap places to live, that has changed ever since.
Those states have been expensive for decade or more
You mean it will be cheaper for investment firms to gobble it all up. This year has been a disaster for a lot of us. I make just under $70k/year and found myself drowning, seeing my savings go to nothing and increased my credit card debt by $20k because my partner is pending approval for disability. Rent was increased by 30 percent and we are expected to follow through. Now I’m doing doordash/instacart on the weekends to keep up with everything and hopefully get out of debt. Yes, backpay from disability could happen whenever they decide to approve disability, but that doesn’t account for all the interest rate charges and crap I’m paying monthly. So I don’t want to hear any fucking politician saying that the middle class is lazy and wants hand outs. We are busting our ass here to live paycheck to paycheck. Government needs to prohibit investment firms from gobbling up all the housing and increasing the rent. So much for the American dream in America, but hey at least we get to rent our American dream from all these investors. Something isn’t right and needs to change.
I hate how news people and politicians say, just save a bigger down payment!
How can we do that when investors are buying the entire house with CASH?
Some of it is greed and some of it is situational - lost rent revenue, higher property taxes and lack of affordable inventory. There are plenty of houses for sale here but many just can't afford them. It will eventually crash and burn but it will take a while for the market to correct. I wouldn't recommend buying now unless you absolutely have to. I wanted to buy a single family home this year but I can swing the $320 more my rent went up and I'll wait another year to see how things go. I'm not locked into FL and have the flexibility to go somewhere else if I can't buy here. If you have to stay, find a neighboring town of these overinflated markets where rent is a bit lower, although it won't be by much and move. If my rent had gone up $500 or more I found a few other places to go. Do your research and start planning your next move now. Tighten the belt - many of us can - and get the finances in order. The gov't isn't going to help you. I'm all for people making profits but not at the expense of pricing locals our of their own neighborhoods. Maybe FL is not the place to be right now.
lot of fixer upper homes in Youngstown , Ohio. buy some land too.
Change the tax laws.
1. Remove the Depreciation deduction from Real estate.
2. Only allow expenses (like Property taxes and Interest and Repairs) to be deducted off of Rental income for that specific property. No Income, no deduction. (You can add repairs into the basis of the house but no other expenses).
3. Disallow AirBnB of non-occupied housing. (you want to AirBnb a room of the house you live in fine, otherwise you are running a business in a residential area which is a violation of zoning laws).
4. Disallow Foreign ownership of non owner-occupied residential real estate.
5. Double Property taxes on vacant homes. Once you can verify owner occupied or a tenant then it returns to normal.
Do these things and watch how fast these vacant homes come on the market and rent and housing prices fall.
🏆
I agree. Unfortunately, you'll hear idiots whining whataboutisms like, "B-but cAPiTaLiSm! People have a right to make money in a residential community any way they can! Waaaaah!"
STOP BUYING, STOP COMPETING, STOP STRESSING-DO NOT BUY-WAIT FOR THE MARKET TO CRASH 💥
Sounds like realestate investing as a business (vs a private investor buying a second or third home to rent) is at the root of the high housing prices. It seems the same in CA. Instead of forcing neighborhoods to build low-cost housing, we should be regulating businesses that hold real estate just to force market prices higher. (I’m looking at you CA! Stop trying to force us to accept 5-6 story complexes next to 1 story homes!)
And yet, people are STILL pumping out kids. Each kid is like an 18 year car payment 😂
Not if you put them to work at age 6
Some people can afford to have kids but there are some that cannot.
They should charge a surtax on vacant homes.
And if it’s happening in Florida…. It’s happening everywhere in the United States. This should be a crime!!!!
It's not really happening in Nebraska, one of the best kept secrets in America..Seriously!
@@Lifetalk849 True, but I'm talking about major metro areas in the United States, I know people are moving there but not at the rate people are moving to the Southeast US.
Back in the days people would of burn those investor home.. now a days we just argue at each other, become divorce, fight and etc not turn our frustration at the source
We decided to buy a house in Georgia we're glad.
Ever heard of "snow birds" and how do know the houses are empty just because there is no one there when you check
I heard they are going to vandalize and burn them...controlled. New way of getting rid of people coming to Florida. Stay in your own state is the new sign. Frankly they have a right & point.
Owner information is public so yes large investment groups are buying up these properties not snow birds lmaoooo
@@adnan_velic
We as natives DO NOT care who what where they are from. We plan on getting them out. We like TX have had enough. We have money and plenty of resources. We have done it in the past and we will do it again.
@@franki7518 I live in Miami my rent went up 20%. I agree and support your comment.
@@adnan_velic
I'm sorry...damn fools. They will have to answer at some point to a much higher Judge my friend.
Hang in there. I frequent Miami.🙏🌴🇺🇸😎🇺🇸🌴🙏💪💪💪
Everyone needs to call, email, or write their representatives and senators in both state and federal congresses to regulate these investors.
I live in Bay Area. I've purchased 100s of homes in Florida.
I AirBnb the houses out. Makes 10K a month per property.
what is the normal % of investment company ownership of an average metro area? Is Tampa/St.Pete through the roof compared to the peers? It sure feels like it.
This Is ridiculous and very unethical! So glad I have a military pension and VA. I bought land and property in Southeast Asia for way less than what they charge here in the US! It is very sad they rip off people all for the mighty dollar! Home ownership is unattainable in the states. They don’t want the average person to own nothing and want to control everything. And I bet you in that Tampa area, they have high HOA fees on top of it. And the government doesn’t do anything to regulate it. And a lot of times, you don’t even know who the investors are that are buying up all the land and properties! Very sad! So glad my family and I don’t have to live in the US as an only option!
Did they differentiate between vacancies and unoccupied vacation homes?
Good question
Tampa City has to do some kind of cooling measures and some sort of control such that investors will not exploit the market.
Nobody has a satisfactory answer about why housing is so expensive. It's simple: companies shouldn't be legally allowed to own homes. Housing is a human right it shouldn't be monetized to make a bunch if faceless corporations money.
My home is for sale- but we've pit many upgrades. Entire home is impact and remodeled & in a retirement community - great community with 3 clunhouses HOA in not expensive at all.
So are you buying another home? Let me guess this is a second home while people here can't have one.
Fighting to buy a house so you can move to Florida? That's like trying to commit a serious enough crime to get into federal prison. Nobody needs to worry about me bidding against them. I wouldn't move to Florida if somebody paid me.
Was going to relocate to the sebring area, prices for property have gone crazy! Think I'll stay where I am.
If you pay above the asking price then you are fueling the housing bubble and part of the problem. Solution hold off buying for a while.
Florida is boring and over rated with low pay but high rent. McDonald and Target is two of the decent paying job there and that’s sad to say. Companies offering 40,000 for a person with a bachelor’s degree or higher get out of here. We moved to another state after being there 4 months.
I suggest get technical training. Many jobs have full time work from home and you can live anywhere.
Yah and idiots like you comment with not data. The median single income reported by the Yahoo finance is 52K.
Bye bye 👋
Louie doesn’t know what he’s taking about. Many are second homes. Many are vacation rental properties. All of which consider “vacant” as part of the analysis.
It’s all to blame investors not Govt…. GOVT is the ones to blame
Give me a break ! You must be one of the rich greedy people pulling this .
No its pretty likely.. I'm see higher rentals increasing but fewer sales im my area.. There's a inflation being made on rents while people are waiting for their expensive homes to be built.. The companies like Zillow are buying up homes just to rent out at crazy prices that people can't afford.. Heck almost every apartment in Phoenix is corporate owned now
Which need to take a backseat to the citizens that live and work here.
These big companies and investor groups got all these houses to make money on Airbnb and etc too. 😐
The media is at fault too! Its encouraging people to bid above asking, so that what everyone thinks they have to do. Thus, artificially pushing the bids higher than should be.
In addition if no one is willing to purchase these home that are sitting vacant for a long period of time. Than their high estimated values should signal that there is a mismatch in the accessed value: that it is wrong! Thus, the asking price is way off on the high side and need to come down until people are willing and able to buy them. Or else there homes will just rot.
Media is paid by DeSantis and friends.
Investors are destroying the real estate market.
There should be limits to how many houses any individual or company can own. That's the only way to fix this problem but that'll never happen because this country is for the rich. The poor don't matter in America. This is what happens when everything is all about capitalism.
Yes, or a city says that only x amount of the available housing stock is available for non occupiers. Obviously you will always need some rentals as not everyone wants to buy.
@@rexx9496 Yeah that's another pretty good solution. The fact that they can buy unlimited houses is just so insane. If a billionaire wants to buy a bunch of houses, there's nothing regular people can do to get the house. The "solution" of people offering more than the asking price won't get them the house when the investor's have far more money to burn. Speaking of rentals there also needs to be limits on how much can charge for rent. How it works right now is if you own enough of the rental market in a city, you get to set the price for rent to whatever you want.
You hate capitalism cus your not successful?
@@improvisedsurvival5967 Or maybe because of the reason I stated. Another reason to hate capitalism is the people who support it are all jackass's. No one can ever not like capitalism because of it's affects on society no you can only dislike it because you're not successful. Let me guess I'm also a communist because I think we should imponent some social programs. I think mixture of the two systems is a far better idea. Pure capitalism is just going to destroy society when automation really kicks in. People have to have something called a job for capitalism to work. When all the jobs are done by robots, the only ones "working" are the people who own the robots and the business the robots run. That's day is just getting closer and closer.
@@XxkrealxX pure capitalism is best. Socialism protects the weak. I’d rather everyone get they own $ stop taking gov handouts. We don’t need social programs. There is plenty of work for everyone. Get to work
We've seen it before and we'll see it again. When this overinflated bubble pops it'll be yet another footnote in the real estate history books.
It'll adjust differently this time.
It might be snowbirds as well. People living up north but owning homes here only coming here in the winter.
If landlords got paid on time they never would have been forced to sell.
Mom & pop make up 90% of landlordship, the eviction moratorium choked them up, and forced them out to richer parties.....oh well
Very sad, but true...
At 32 years old--I learned too quickly and the hard way that Florida has only one season--and it's either on or off....
I feel like I am trapped in a hellish and unjustifiably unfair to be 18 during the great recession and now with COVID and unjust inflation at such an unprecedented pace--
I don't know what's up with the government's factoring and I strongly recommend we maybe need to retest on qualifications and standards to estimate only 7% inflation--?
More like a solid 25% plus!!! (Both, at the place where I work--as part of my job is to try to keep up with replacement of the products and price labels that are changing on a daily basis), and in my so-called personal life-- everyday, everywhere... and on every single product and service + moving goalposts and hidden fees/loopholes, dead ends, trapdoors and extra steps ...)
My Laundromat has even gone from $6.50 to $7.75 with the dryers cycles shortened by 1 min and 25¢!!!
My employer/CEO has 3 houses--I'm like, "Bro, can I afford just one?!"...?
and I have to hear from my local news about 1.68 million vacant homes and Florida being an unsustainable, how landlords are seemingly the only distressed "victims" of our housing market--its a mess!!
(I don't feel like I relate with anyone else in this mess)--
-- and unlivable trap to those of us being crushed by our hometown and can suddenly no longer afford to stay but yet I also can't afford to leave... So what then...?
It's like starting in a game of Monopoly that has already started to the point where all the properties are already owned by the other players --
"Upper class is thriving at the exploited crushing of the lower class--the ONLY thing that was not increased and actually lowered was the price of alcohol --and availability of it...weird..?!"
Divide and conquer is killing the best...
(Head and Heart ❤️)
I feel we have nothing in common anymore society--
Do as we say, not as we do...
Donate to Charity and they'll profit on their "doing their part" to, but the help doesn't come through...
Young, "healthy-looking" people are dying as we so quickly forget that heart disease and cancer do not discriminate-- so compassion is lost and community ties are sure to unravel soon too....
I don't make enough to live, but don't make enough to buy food and although I qualify for EBT (meaning that I am at least 160% below the poverty line) working full-time at $12 per hour--over half of my income is my rent for my 10' x 10' room that I rent in someone else's home but I have no kids so I get $20 per month to live by...!
I have no children, so after I slave away as a tax payer, and an American citizen, I feel obligated to tolerate that after I loan my 20-30 % income annually to the state (plus another 7% sales tax for every single transaction-- for the state of FL as well...?!--Again..?!)--
for the government programs that aren't helping me much ... At the end of the year, I get $50 from my 1040 ez and HSA+ turbo tax has their cut!
(I get $50 back and have to hear from others that have kids getting back thousands and some of these people don't work or not as much and make less....)
Amazon and Donald Trump don't pay any?!?
This is unbelievable--WTF?!?...?!
(I tolerate the abuse of the members of my community every single day... unprecedented reactions of others who find reason to be so entitled about things that I have no control of....)
Berated and insulted for following policies and limitations that were not set in place by me and are completely out of my control...
If there's a dispute, I'll be undercut and punished for doing the things that I am told to do....
And then, get punished by those that required me to do so...--
Who required that the customer had to be placed on a pedestal?!...
The state requires me to pay for car insurance that requires me to fight for the coverage we had a government binding document 📃 and agreement for, but let's not fix or change ANY of this.. (!?!?)..
What are they doing with food, the truth, and the resources that aren't working, the ones that aren't coming through....
Some are profiting....
Should we do anything about that?!?
No, let's bash it in their face on the daily news?!
🧐😷😮💨
No help.
(Tossing and turning at night, I can't sleep)
No rest.
Maybe it's me, maybe it's all in my head?
Maybe we should never be able to forgive and forget... We spent trillions of dollars on things, that we'll have to pay off for years, if I pay taxes for the government properties then am I entitled to a piece of the property that belongs to our government for services that are not serving the those who need it the most...
(...sorry, I think I needed to get this off my chest...)
I digress...
God bless.
I feel you completely. 😪
Housing prices are high because we don't build more houses. Bringing price down is a simple as increasing supply.
Moving from NJ to Fl to take care of Mom who sells her home. Priceless.
Blackrock coverts those homes into rental units
Sometimes folks just have to face the thought of moving to another area where homes are more reasonable. Hint: Try OLD Bullhead City, Arizona. Seriously, you have the Colorado River a mere walking distance away, with nine gambling casinos on the river bank across the river in Laughlin, Nevada. And we’re only 90 miles south of Vegas. Water taxi’s move people from one casino to the other, for those who don’t drive. There’s plenty of water sports (fishing, jet skies, etc.) and the best Springtime in the nation. But most important, PRICES ARE STILL REASONABLE. It’s hot in the summer, but no Humidity, Sinkholes, or Hurricanes.
I get that, but there is an ever increasing list of people from here that can't afford to live here any more. Imagine that, leaving your home because it's too expensive for them to live. Not everyone wants to move away from home, it used to be a choice.
Arizona has a water crisis.
You have to be a chump to pay for those houses. First of all the construction is CRAP. For 350K or more, it better be top flight. But it's not. Paper thin walls, crappy appliances, bad finish work....it runs the gambit. For my money I'm seeking out alternatives. Tiny homes seem to make a whole hell of a lot of sense right now.
the reason is Florida allows out of country foreign actors, and investment groups to over pay for housing, and allows people to purchase a house for the purpose of it being a rental property which it turns heats up on the market. They also consider an old 1974 on luxury housing which needs to updated and needs to update to parameters of luxury housing and rentals.
Everyone wants to be landlords so they can live off other hard work
Orlando I know is absolutely in a bubble, or at the very least has unsustainable housing prices. I bought at a hair over $200k in 2015 and within the past year Zillow has me at double that as an estimated value. The great thing is a lot of these investors are going to be seeing a ton of red when the rate hikes happen and no one is willing to pay 6-8% mortgage rates on overinflated values on homes. One of those real people fictionalized in "The Big Short" is also heading up one of these firms buying up all these homes. The absolute irony.
Don’t just blame the firms. Are we gonna ignore the fact that New Yorkers with 6 figure salaries are gobbling up homes all over Florida. These people are working remotely and are easily able to buy a $500k+ home with their income, native Floridians can’t compete with that.
@@mocha1886 pretty soon we will all be living in California when the property values there crumble.
@@areyoujelton lets hope so , property tax will be lower.
Insurance companies don't cover vacant homes due to vandalism
Ridiculousness!!!! Let the houses sit and rot!!!! No one can afford these Cracker Jack boxes!
They should have had a clue and kept the Mom's house in the Village's and taken care of her Mom in her home. It will take all their money to get back in the market, IF they can find a home in an area they want it. If not, they best take that money and go to Alabama, or Georgia for a bit better prices on a home.
They could take the money from the sale of Mom’s home and move her to NJ and avoid the terrible FL housing market.