Don’t sell unless you already have a place. Don’t forget if you sell your house for an inflated price you need to buy a place for an inflated price. No one really wins.
There are some that win. Imagine those who own multiple houses and rent them out. They have done it for years and have wanted to "retire", or just get TF away from Murican tenants! They just sell those houses, dumping crappy renters and taking a massive win on their house.
Not exactly. Some people like me, sell to pay off debt, and since the interest is so low, it works out. I sold my house, and pocketed 60k, bought another, and my payment only went up $200. Financed $180k on the house I sold.....$253k on my current home. Not bad imo.
@@acz88 this is what I've bee telling people. Mortgages are being used as the new gold by central banks all over the world. Prices in most places in the US are still cheap compared to where they could go.
It’s the same in Vegas. We have paid off our home that we raise both of our children in. We paid it off in 2005. Since then we have started two businesses and we’ve been saving our money for a second dream home in Vegas . We were going to buy in Vegas, we were ready, we have a realtor and everything. We just don’t see paying $150,000 over what it’s really worth. We know that this is a bubble just like the man on the video is saying. There’s no way that these prices are sustainable. And what’s going to happen when the prices do you start to go down in the interest-rate to go up the people that purchased these homes at these crazy astronomical prices are now going to be in a home that’s worth $100-$150,000 less. Could you imagine if we purchased a home right now? If we even put the 20% down at $500,000 home we would essentially loseOur hundred thousand dollars when the prices drop. There’s no way! This has never happened before people are going crazy there’s moratoriums and wait till this moratoriums her up. A lot of people are in a world of trouble. Now if you are in a situation like me or if you are first time homebuyers just sit back and wait have patience. Even if we have to wait a year I’m telling you it will be worth the wait.
As long as you don't sell your current home you can wait. The problem is for first time home buyers or people who are selling thinking they might buy cheaper later. Those people risk being locked out of the market if what's happened in Canada and Australia happens here.
The same thing is going to happen that happened last time the market crashed in FL. Mortgages will go into foreclosure, investment companies will swoop in and buy up the houses at a discount and turn them all into rentals and the neighborhoods will go to shit. This is exactly what happened in my old neighborhood after the last crash and we sold our paid-off house and took a mortgage to get into a nicer part of town.
People coming from higher activity markets will always inflate the local ones. If you have a house now sell and go to a less attractive market and do it again. If you’re local you know what the neighborhoods are that are on the rise. Eventually you’ll choose a nice spot payment free and be set for life........like me!🤓😎
It might. The difference is that in 05 the interest rate was probably around 5.75, and with interest rates at around 3%, the 30yr mortgage payment may be similar. Who knows with these markets. I do agree, what goes up, must come down
@@8180634 That was everywhere. We still have empty foreclosures here from that time period. Property values went sky high and people bought or took out an equity loan and when prices came back down they went under.
We got a ridiculous outdoor mask mandate here up North. So we are using all the stimulus and isolation savings to flood south. Rent in Tampa may be going up 7% but buying is going up 15+%. Northerners will scoop up the properties raise the rents then realize how hard it is to find rich renters and pay for maintenance. Eventually they will flop. Rent a cheap place now, save and buy later.
I did NOT say it was Crashing!! Do you know how to Comprehend What You Read? Go read it again. The Market WILL Crash "Within the Next 4 years", I'll bet a WHOLE Month of Income on that, because of what is happening in DC. Also, because of "WHAT they have PLANNED, per Congress.
Wait to buy. In a few years will be in another housing market crash and you will be able to pickup these same houses for half what there selling for today.
What goes up must come down? In the 80s average home prices were $80k. 2021 $400k. Don’t take market or investing advice from a real estate salesmen. Often they’re more clueless than you are. If they’re so good at timing the market they wouldn’t be driving around showing you houses. Rent prices goes up because house prices goes up. Houses prices are up because 1) massive money creation by central bank causing your dollar to devalue 2) real estate sales practices such as creating bidding wars to escalate property prices 3) low interest rates let’s people borrow more so they have more to spend 4) the ever increases in taxes, government fees, and regulation to slow construction and investment of new homes (supply) while increasing levels of immigration legal and illegal (demand).
I’m in Maine and we’re having the same problem. We’ve been pre-approved for over a year but the market is just too crazy. We’ve put in bids (well over asking) but we’re always outbid by out-of-staters. They bid without even looking at the property and then back out after inspection (when they see the property for the first time) without penalty. It’s frustrating for other buyers and frustrating for the homeowner. That, on top of houses going under contract in 48 hours- I just can’t do it. We’ve decided to wait until the bubble bursts and 3bedroom split ranches on .5acres aren’t $400k. It’s ridiculous. *edited to say houses go under contact in 48 hours- not sold in 48 hours.
Yeah, the entire New England area is getting pumped up because of rich New Yorkers moving up there. It's a trend thats been happening since the beginning of the pandemic. A lot of New Yorkers realized they want more space and are moving (sometimes even as far Texas and Florida) to get it. Its honestly not even worth it right now. In a year or two when interest rates go back up you'll be able to get the same houses for 50k-100k less.
@Crater Tube Nobodys responding to you, everybodys ignoring you. We're talking to the original commenter, but you keep interjecting like a smart ass. Literally all you have to do is google Maine housing market and you'll see what everyone's talking about; its actually one of the hottest markets in the country rn. I honestly doubt you're even out of high school, let alone own a home.
Great idea...real estates agents are forcing the prices up by having all those people bidding for the same house. Also, the same rich people are buying and selling houses they are not letting the middle class to upper middle class in.
Therefore if you do not live in Florida it’s probably a good idea to just stay where you’re at and wait it out a little bit longer there are too many people here as it is and everybody is coming to Florida and honestly it’s crazy. I’m tired of hearing the Florida man stories or a Florida woman’s story. Many of the stories are from people who were not born and raised here.
The northerners do not understand life here, they want to change everything. Mostly the city people. They call the police on kids fishing in the local lakes, heaven help you if you put a boat in the lake, multiple officers on scene faster than an ambulance comes for a heart attack! We had it out with some lady who built her mansion with a dock on a prime fishing area, then thought the public should go away because she had arrived. We had to get law enforcement involved in that one, fortunately we were in the right and they asked her to pipe down, but I'm worried for when my kid wants to go fish there without me. They call animal control on every little wild animal they see, kill all the snakes then post pictures on the community forum asking "what kind of snake was this", while at the same time complaining about the rat problem... that didn't exist until they killed all the snakes! The latest fad is the city people wanting to replace the grass in their yards with artificial turf. I'm speechless! They have truly paved paradise and put up a parking lot... and a condo.. and mansion.....
That's what led to the Save Our Homes law. Back in the 80's and 90's we lived in the boonies (in FL), but as more people started building property values took off. Taxes went up so fast some of our friends got taxed out of their long time homes and had to move to cheaper areas. That same thing was happening in many places in Florida which led to the Save Our Homes law, which caps the amount your assessed value can go up each year on your homestead. It was capped at 3%/year, I'm not sure if it's still the same. That was great and all, but then people were stuck in their houses, because as soon as they moved the assessed values reset and presto your taxes skyrocket again. They have since added a provision that lets you take that savings with you when you move to another homestead. Of course that led to neighbors paying drastically different taxes for similar houses if one had lived in the area for many years and the other was a new transplant from out of state. To give you some idea, the house we bought in 1986 for $90k is now on the market now for $649k. It's a small 3/2 that was one of the first houses there. Now that the area is developed, there are multi-million dollar houses in the same neighborhood. I won't be surprised if someone buys it just to knock it down and put something bigger up. It's insane!
@@I.l.l.u.m.i.n.a.t.i. every year you get a notice of proposed taxes in the mail. It will have your assessed value and the milage rates, etc.. that's all used to calculate your taxes. It's easy math, the point is it's based on math, not someone picking a number randomly.
@@jimmyjohn8008 yeah , it’s literally so crazy. people are paying 200k for houses built in 2005 or older in texas, at this rate no middle class person will be able to afford a house in the future
Right they say us people up North are knocking locals out of being able to buy. It’s like this everywhere right now. I’m up North on East coast and my neighbors home was on market for an hour and was bought sight unseen for a huge price!
@@omar9268 In Maryland, if you find a house for $200K it’s a dump in a bad neighborhood. My daughter had to jump on her house because the market is crazy here too. The realtor told her you have to act fast so be ready. She bought a home in March I think and the same home almost is $30K more for sale now just months later.
Okay. My question is. HOW can the majority of the people live in any type of housing in Fl. When the min. Wage is 8.56 an hour. I CAN'T imagine HOW it will be in August and September once ALL the families are evicted at the end of this month. I assume TOTAL chaos.
Cannot compete against cash buyers, no matter how well put together your loan. Don't waste your time and search an area where cash buyers are absent. Cash buyers are typically banks, mutual funds, private equity and foreign equity to safely (relative to inflated stock market and other inflated soft assets) store/grow their wealth and make earnings by renting these homes to famililes. IMHO houses build for families should be for families, and not for elite profit making.
Been in Tampa since the early 2000s and cost of living since the pandemic has gotten absolutely out of control for housing. Not to mention all the traffic and out of state plates. Looking to leave the state for more affordable living
Yep he's wearing headphones Maybe you should have his mask on don't forget the tinfoil helmet yep good day for News casting should had a cup of coffee in his hand look more professional course women look better with glasses on makes them look smarter
People bringing money from other places when Florida historically pays %40 less for the same jobs is pricing anyone who lives here out of the market. This will crash and it will be worse than 2008. Anyone buying now will be severely upside down in 4 years
2:35 "You can't move yourself up because prices are so high right now..." Well yeah. You expected to "move yourself up" without paying more? Not sure that's the way life works.
My wife and I are ready to buy, we were ready at the start of covid. I have my VA loan and we can get a normal loan, but we are just going to wait this out. I am betting on this being a bubble that is going to pop, hard!!
But most of them own houses already in Florida and the Caribbean,with an underground bunker somewhere in Colorado. Rich don't wait for "plandemic" to make moves.
1.) Best beaches in 48 states 2.) No state income tax 3.) Homestead state 4.) You’ll sell over your asking in less than a week. 5.) People moving to this area has increased 3X in 2021. 6.) Bubble-bubble. Hubba-Bubba. Wubba-wubba.
I got my 3 covid checks and 12 months of huge unemployment checks. Move over Tampa locals, I'm coming down and ready to buy into this "low stress low cost area" with water as warm as pee......:)
@@Alwaysbeclosing1774 The reporter spewing this misinformation said Tampa and Florida in general is low cost and low stress.. Guess he is lying just to pack some more people in there and houses sell in 10 min instead of 20.
I moved from California to Orlando 15 years ago. I'll just say this whats happening in Florida is the same that happened in California, prices in California have been insane for three decades and they just keep going up.
@Crater Tube No, Jeff C is absolutely correct. I'm in california, and home prices continue to rise, due to lack of inventory. Our home value just went up $41,000 with a 5% increase in the last 30 days alone, and Tampa florida is the same right now. Housing prices are not falling in these states. If you think otherwise, you just havent been following the market closely these past few months.
By financing a house purchase with a pre-approved mortgage you can close faster than a cash buyer that needs a "few days" to get the money together? I don't think so.
@Crater Tube Why would a mortgage that you can afford, create poverty? A person can pay their mortgage and invest/save at the same time. I rented for many years and always disliked having to renegotiate the new lease terms after my existing term ended. The landlord always wanted more money with each subsequent renewal. Though maintenance was covered, I still had to pay all utilities. In the end, though buying was expensive, it was still within my budget and the better option for me.
@Crater Tube But what you fail to realize is, a number of wealthy people 'borrow" money, while investing their own. Graham Stephen and "Meet Kevin" (who do finance content on youtube, have networths that exceed 10 million) and they borrowed to purchase their multiple investment properties, while investing their money in the market and other assets. It is advantageous during this time to borrow, because money is cheap (very low interest rates).
@Crater Tube What do you advise? Should all people wait until they can purchase the home outright? The very homes/apartments that people are renting, usually have an existing mortgage. Essentially, their rent payment to the landlord is paying down in most instances, the owner's mortgage debt..
A small percentage of buyers are out-of-state buyers the majority are overseas investors, there is a plan by investors to buy all of the inventory available and then turn it into rentals but those rentals will be extremely high we're talkin about a minimum of $2000 a month that's 90% of the workforce income, only about 10% of the country's population makes over $2000 a month we're slowly becoming like China eventually will have brand new cities that no one can afford to live so many misunderstand China, its capitalism on steroids and we're starting to get our dose of steroids. That's why so many companies that can go overseas go overseas
People have been talking about a real estate crash and bubble since prices started rising in 2013. I still think 2027 will be the year real estate crashes. But don't take my word for it I am just a young guy who has only bought and sold a few million worth of houses in Tampa Bay. 👍 Be cautious myself and many others could be wrong and likely are.
People have unrealistic expectations when purchasing a home in a subdivision. This reminds me of the house feeding frenzy in 2008. Buyers are over approved to purchase an overpriced home in subdivision with HOA fees, impact fees, water fees, etc. How many of these people can afford to stay in their home after 2-3 years? They only have 5% down and therefore no equity in their Mcmansion. They may have to sell their overpriced home at a lose and then go back to living in a "very expensive but now seemingly affordable". apartment
@@adventuresinthebay8487 Justin Turdeau tells me different, Sir. 45 Billion from 2010 to 2015 before investigation shutdown. 35 million more then the USA. Hong Kong...follow the money
@@djjeffro5081 Yes, of course we are all Americans. The problem is people from the northeast in general are rude, obnoxious and pushy. Not all, but a lot. Where I lived in north Hillsborough county was a calm place. Now it's tense and unpleasant because of these people and the attitudes they bring. If you want to live among them, go ahead. All this Kumbaya stuff doesn't work in real ife. Some people are just arseholes and ruin once calm places.
I agree I can't stand people from up north, I never met anyone that I liked from Minnesota, Indiana, Wisconsin, Illinois, North Dakota and South Dakota, Michigan, or anywhere in the north , they have the worst accent's almost like Canadian gibberish. There is no Mutual friendship there, all them people are sheltered self centered and slow
He is correct though. Locals are absolutely being outbid and for local buyers this is a bubble. In Florida 70% of the working population makes $15 and hour or less. We are going to end up with a lot of problems like more homelessness if increased housing and rental prices becomes a permanent trend.
I started in real estate in 1991. Back then it was the Saving & Loan crisis. Then came the sub prime roller coaster. Now in 2021 its the same ride with different ingredients. Real estate prices are driven by economic conditions. Thinking that this level of demand is permanent is not level headed thinking. The history of pricing shows areas like Tampa, Miami, LA, Phoenix and Las Vegas all lead the way in real estate booms and we crash the hardest when it hits. Most of my investors have sold all their rental homes and only kept their homesteaded property........ just like they did in 2005. So to the knucklehead that called me “Stupid”...you just go buy yourself some extra real estate and let me know how that works out for you in 3-4 years.
@In Your Empty Skull to a degree. But with people coming from the north, they pay WAY over appraisal in many cases. But you are correct, many of those appraisals are “sheeeeccchhhh”..... stretching a bit
I agree. He sounds like an uneducated moron. Bubble only appears when inventory exceeds the number of buyers. As far as foreclosures go....banks will work to keep you in your house, refinance and add missed payments to the end of the loan and add another 10 years to pay. If you're waiting for a foreclosure, you'll be waiting 2 to 4 years. Good luck everyone!
Don’t sell unless you already have a place. Don’t forget if you sell your house for an inflated price you need to buy a place for an inflated price. No one really wins.
Yep, there really isn't even a cheaper state to move to now. And how can anyone compete against people coming from California with cash?
There are some that win. Imagine those who own multiple houses and rent them out. They have done it for years and have wanted to "retire", or just get TF away from Murican tenants! They just sell those houses, dumping crappy renters and taking a massive win on their house.
Not exactly. Some people like me, sell to pay off debt, and since the interest is so low, it works out. I sold my house, and pocketed 60k, bought another, and my payment only went up $200. Financed $180k on the house I sold.....$253k on my current home. Not bad imo.
Happening everywhere in the country
It’s crazy here in Texas
It’s worse in the Treasure Valley area in Idaho because of the lumber shortage; and other materials shortages!
It’s happening world wide not just the USA. Here in Ontario we are seeing 30-40% price increase year over year in most southern cities.
Due to the forbearance and handing free money everyone.
@@acz88 this is what I've bee telling people. Mortgages are being used as the new gold by central banks all over the world. Prices in most places in the US are still cheap compared to where they could go.
Anybody who can exercise extreme patience now will benefit in the future.
Cost of living won't be low for long
It’s the same in Vegas. We have paid off our home that we raise both of our children in. We paid it off in 2005. Since then we have started two businesses and we’ve been saving our money for a second dream home in Vegas . We were going to buy in Vegas, we were ready, we have a realtor and everything. We just don’t see paying $150,000 over what it’s really worth. We know that this is a bubble just like the man on the video is saying. There’s no way that these prices are sustainable. And what’s going to happen when the prices do you start to go down in the interest-rate to go up the people that purchased these homes at these crazy astronomical prices are now going to be in a home that’s worth $100-$150,000 less. Could you imagine if we purchased a home right now? If we even put the 20% down at $500,000 home we would essentially loseOur hundred thousand dollars when the prices drop. There’s no way! This has never happened before people are going crazy there’s moratoriums and wait till this moratoriums her up. A lot of people are in a world of trouble. Now if you are in a situation like me or if you are first time homebuyers just sit back and wait have patience. Even if we have to wait a year I’m telling you it will be worth the wait.
As long as you don't sell your current home you can wait. The problem is for first time home buyers or people who are selling thinking they might buy cheaper later. Those people risk being locked out of the market if what's happened in Canada and Australia happens here.
The same thing is going to happen that happened last time the market crashed in FL. Mortgages will go into foreclosure, investment companies will swoop in and buy up the houses at a discount and turn them all into rentals and the neighborhoods will go to shit. This is exactly what happened in my old neighborhood after the last crash and we sold our paid-off house and took a mortgage to get into a nicer part of town.
People coming from higher activity markets will always inflate the local ones. If you have a house now sell and go to a less attractive market and do it again. If you’re local you know what the neighborhoods are that are on the rise. Eventually you’ll choose a nice spot payment free and be set for life........like me!🤓😎
It might. The difference is that in 05 the interest rate was probably around 5.75, and with interest rates at around 3%, the 30yr mortgage payment may be similar.
Who knows with these markets.
I do agree, what goes up, must come down
@@8180634 That was everywhere. We still have empty foreclosures here from that time period. Property values went sky high and people bought or took out an equity loan and when prices came back down they went under.
It's most likely the biggest purchase you will make in your like and you're suppose to do it fast, in a rushed state, or else fear losing out. SMH.
Exactly
The Big money wash ahhhhh!! The big crash in 08 a little different but, who are u kidding!! I seen this game before!!!
We got a ridiculous outdoor mask mandate here up North. So we are using all the stimulus and isolation savings to flood south. Rent in Tampa may be going up 7% but buying is going up 15+%. Northerners will scoop up the properties raise the rents then realize how hard it is to find rich renters and pay for maintenance. Eventually they will flop. Rent a cheap place now, save and buy later.
Hold on to Your Money, wait till the Market Crashes, (it Will), then you Can buy your Dream Home at HALF the Price.
I did NOT say it was Crashing!! Do you know how to Comprehend What You Read? Go read it again. The Market WILL Crash "Within the Next 4 years", I'll bet a WHOLE Month of Income on that, because of what is happening in DC. Also, because of "WHAT they have PLANNED, per Congress.
Wait to buy. In a few years will be in another housing market crash and you will be able to pickup these same houses for half what there selling for today.
Yep
What goes up must come down?
In the 80s average home prices were $80k. 2021 $400k.
Don’t take market or investing advice from a real estate salesmen. Often they’re more clueless than you are. If they’re so good at timing the market they wouldn’t be driving around showing you houses.
Rent prices goes up because house prices goes up. Houses prices are up because 1) massive money creation by central bank causing your dollar to devalue 2) real estate sales practices such as creating bidding wars to escalate property prices 3) low interest rates let’s people borrow more so they have more to spend 4) the ever increases in taxes, government fees, and regulation to slow construction and investment of new homes (supply) while increasing levels of immigration legal and illegal (demand).
@In Your Empty Skull 7 months later, that was a funny joke
I’m in Maine and we’re having the same problem. We’ve been pre-approved for over a year but the market is just too crazy. We’ve put in bids (well over asking) but we’re always outbid by out-of-staters. They bid without even looking at the property and then back out after inspection (when they see the property for the first time) without penalty. It’s frustrating for other buyers and frustrating for the homeowner. That, on top of houses going under contract in 48 hours- I just can’t do it. We’ve decided to wait until the bubble bursts and 3bedroom split ranches on .5acres aren’t $400k. It’s ridiculous.
*edited to say houses go under contact in 48 hours- not sold in 48 hours.
Yeah, the entire New England area is getting pumped up because of rich New Yorkers moving up there. It's a trend thats been happening since the beginning of the pandemic. A lot of New Yorkers realized they want more space and are moving (sometimes even as far Texas and Florida) to get it. Its honestly not even worth it right now. In a year or two when interest rates go back up you'll be able to get the same houses for 50k-100k less.
@Crater Tube Nobodys responding to you, everybodys ignoring you. We're talking to the original commenter, but you keep interjecting like a smart ass. Literally all you have to do is google Maine housing market and you'll see what everyone's talking about; its actually one of the hottest markets in the country rn. I honestly doubt you're even out of high school, let alone own a home.
Great idea...real estates agents are forcing the prices up by having all those people bidding for the same house. Also, the same rich people are buying and selling houses they are not letting the middle class to upper middle class in.
Buying swamp land in Florida..........hahahahahahaha Florida will be under water in 50 years
Therefore if you do not live in Florida it’s probably a good idea to just stay where you’re at and wait it out a little bit longer there are too many people here as it is and everybody is coming to Florida and honestly it’s crazy. I’m tired of hearing the Florida man stories or a Florida woman’s story. Many of the stories are from people who were not born and raised here.
The northerners do not understand life here, they want to change everything. Mostly the city people. They call the police on kids fishing in the local lakes, heaven help you if you put a boat in the lake, multiple officers on scene faster than an ambulance comes for a heart attack! We had it out with some lady who built her mansion with a dock on a prime fishing area, then thought the public should go away because she had arrived. We had to get law enforcement involved in that one, fortunately we were in the right and they asked her to pipe down, but I'm worried for when my kid wants to go fish there without me. They call animal control on every little wild animal they see, kill all the snakes then post pictures on the community forum asking "what kind of snake was this", while at the same time complaining about the rat problem... that didn't exist until they killed all the snakes! The latest fad is the city people wanting to replace the grass in their yards with artificial turf. I'm speechless! They have truly paved paradise and put up a parking lot... and a condo.. and mansion.....
@@8180634 yep saw the idiots act the same way in arizona, wasting water on grass and flowers. I used to shake my head and say idiot its the desert!
All these overpriced houses will drive up the property taxes for all in the area.
That's what led to the Save Our Homes law. Back in the 80's and 90's we lived in the boonies (in FL), but as more people started building property values took off. Taxes went up so fast some of our friends got taxed out of their long time homes and had to move to cheaper areas. That same thing was happening in many places in Florida which led to the Save Our Homes law, which caps the amount your assessed value can go up each year on your homestead. It was capped at 3%/year, I'm not sure if it's still the same. That was great and all, but then people were stuck in their houses, because as soon as they moved the assessed values reset and presto your taxes skyrocket again. They have since added a provision that lets you take that savings with you when you move to another homestead. Of course that led to neighbors paying drastically different taxes for similar houses if one had lived in the area for many years and the other was a new transplant from out of state. To give you some idea, the house we bought in 1986 for $90k is now on the market now for $649k. It's a small 3/2 that was one of the first houses there. Now that the area is developed, there are multi-million dollar houses in the same neighborhood. I won't be surprised if someone buys it just to knock it down and put something bigger up. It's insane!
Demand drives property taxes prices higher more then a homes price does.
@@morgenhoop you don't understand how property taxes work do you? It's based on the assessed value of the property. It's a mathematical formula.
@@8180634 OK, Goodwill hunting, LMAO!!
@@I.l.l.u.m.i.n.a.t.i. every year you get a notice of proposed taxes in the mail. It will have your assessed value and the milage rates, etc.. that's all used to calculate your taxes. It's easy math, the point is it's based on math, not someone picking a number randomly.
it’s happening nationwide, my dad was able to sell his house for 200k and bought it for 89k in 2010
In my nieghbor the houses are starting to sell for 2 twice as much I paid for my house 4 years ago.
@@jimmyjohn8008 yeah , it’s literally so crazy. people are paying 200k for houses built in 2005 or older in texas, at this rate no middle class person will be able to afford a house in the future
@@jimmyjohn8008 Where is that?
Right they say us people up North are knocking locals out of being able to buy. It’s like this everywhere right now. I’m up North on East coast and my neighbors home was on market for an hour and was bought sight unseen for a huge price!
@@omar9268 In Maryland, if you find a house for $200K it’s a dump in a bad neighborhood. My daughter had to jump on her house because the market is crazy here too. The realtor told her you have to act fast so be ready. She bought a home in March I think and the same home almost is $30K more for sale now just months later.
Okay. My question is. HOW can the majority of the people live in any type of housing in Fl. When the min. Wage is 8.56 an hour. I CAN'T imagine HOW it will be in August and September once ALL the families are evicted at the end of this month. I assume TOTAL chaos.
Wait till after the hurricane....
Shit isn’t Florida hurricane state. Next hurricane everybody’s moving back north
@@supportmytroups7 🤣
Exactly. Buy in Florida if you can deal with any damages that come along with the weather.
Cannot compete against cash buyers, no matter how well put together your loan. Don't waste your time and search an area where cash buyers are absent. Cash buyers are typically banks, mutual funds, private equity and foreign equity to safely (relative to inflated stock market and other inflated soft assets) store/grow their wealth and make earnings by renting these homes to famililes. IMHO houses build for families should be for families, and not for elite profit making.
Just got a house in tampa bay from California. Can't believe how cheap it is there. Got it all cash.
But you’re waking up in Tampa...
Leave
@In Your Empty Skull sounds like you’re mad you can’t afford one.
@@adventuresinthebay8487 Judging by his name he's originally from India....so Tampa is still an upgrade lol.
Tampa prices are a joke compared to expensive city’s
Been in Tampa since the early 2000s and cost of living since the pandemic has gotten absolutely out of control for housing. Not to mention all the traffic and out of state plates. Looking to leave the state for more affordable living
Good content. The headphones look dumb 😆 it’s not a football game
Yep he's wearing headphones Maybe you should have his mask on don't forget the tinfoil helmet yep good day for News casting should had a cup of coffee in his hand look more professional course women look better with glasses on makes them look smarter
House comes on the market 420k and buyer buys for 470k. Housing market crashes and now that is worth 400k
More like $280k
@@zorro8410 Homes that sell in this market for over 400K, will never be priced in the 200Ks, especially given inflation.
@@lenaprice6239 oh yeah??? If that were true I wouldn't have 2 foreclosures and lost my lifes saving!!!!!
@@lenaprice6239 Say what?? LMAO
People bringing money from other places when Florida historically pays %40 less for the same jobs is pricing anyone who lives here out of the market. This will crash and it will be worse than 2008. Anyone buying now will be severely upside down in 4 years
Wait till they get a load of the skyrocketing home insurance prices. Don't forget to go take a swim in piney point.
Why tf is he still wearing that headset
NFL commentator style headset.
2:35 "You can't move yourself up because prices are so high right now..." Well yeah. You expected to "move yourself up" without paying more? Not sure that's the way life works.
People love cheap and free. Why do you think the stimulus was a hit?
So your saying if you make more you need to spend more you must be broke lol
Dale Mabry Highway, Classic and Iconic.
My wife and I are ready to buy, we were ready at the start of covid. I have my VA loan and we can get a normal loan, but we are just going to wait this out. I am betting on this being a bubble that is going to pop, hard!!
Foreign investors also
It’s probably because of the New York; and New Jersey wealthy individuals who are sick; and tired of the taxes; and the socio-economic problems.
That they voted for 🤣
But most of them own houses already in Florida and the Caribbean,with an underground bunker somewhere in Colorado.
Rich don't wait for "plandemic" to make moves.
What socioeconomic problems, be more specific.
@Jenniolms That is not an answer to my question.
So over bid the appraisal price? Wow
I guess I'll stay North 🤷
Who wants to live in a hot humid state with crappy economy and flatland with no hills or mountains
1.) Best beaches in 48 states
2.) No state income tax
3.) Homestead state
4.) You’ll sell over your asking in less than a week.
5.) People moving to this area has increased 3X in 2021.
6.) Bubble-bubble. Hubba-Bubba. Wubba-wubba.
I got my 3 covid checks and 12 months of huge unemployment checks. Move over Tampa locals, I'm coming down and ready to buy into this "low stress low cost area" with water as warm as pee......:)
Who told you it’s low cost. Good luck finding a shack in a decent area under 400K
@@Alwaysbeclosing1774 The reporter spewing this misinformation said
Tampa and Florida in general is low cost and low stress.. Guess he is lying just to pack some more people in there and houses sell in 10 min instead of 20.
😂 stop scaring folk
This is just public relations
Florida has always been a hard place to get home unless it's at a shity area. Low cost of living wtf are they smoking
Most houses in SE Wisconsin market have doubled over 3-4 years. Out of this world.
I'm going to wait.
Prices will go down soon or later.
Just be patient.
I moved from California to Orlando 15 years ago. I'll just say this whats happening in Florida is the same that happened in California, prices in California have been insane for three decades and they just keep going up.
Prices will only go down if numerous people default on their mortgages
Otherwise don’t wait or find a city that’s not far from the beaches
@Crater Tube Both Florida and California prices are up over 10% from a year ago
@Crater Tube No, Jeff C is absolutely correct. I'm in california, and home prices continue to rise, due to lack of inventory. Our home value just went up $41,000 with a 5% increase in the last 30 days alone, and Tampa florida is the same right now. Housing prices are not falling in these states. If you think otherwise, you just havent been following the market closely these past few months.
Good info! And thank you for not wearing a mask to report!
I'd never move there, too crowded, but that's just me, I'm more of an acreage guy.
You like having a bunch of grass to cut huh? To each his own I guess...
Yeah, never been afraid of manual labor, but that's just me
Yea imma wait to buy too. Not just because I’m broke
No crash in Florida
It's going to burst
Hurricane - lets see the new residents handle one of these. Tampa area due for big one!
By financing a house purchase with a pre-approved mortgage you can close faster than a cash buyer that needs a "few days" to get the money together? I don't think so.
@Crater Tube real estate created more millionaires than any other industry. you’re broke right now what do you have to lose?
@Crater Tube Why would a mortgage that you can afford, create poverty? A person can pay their mortgage and invest/save at the same time. I rented for many years and always disliked having to renegotiate the new lease terms after my existing term ended. The landlord always wanted more money with each subsequent renewal. Though maintenance was covered, I still had to pay all utilities. In the end, though buying was expensive, it was still within my budget and the better option for me.
@Crater Tube But what you fail to realize is, a number of wealthy people 'borrow" money, while investing their own. Graham Stephen and "Meet Kevin" (who do finance content on youtube, have networths that exceed 10 million) and they borrowed to purchase their multiple investment properties, while investing their money in the market and other assets.
It is advantageous during this time to borrow, because money is cheap (very low interest rates).
@Crater Tube What do you advise? Should all people wait until they can purchase the home outright?
The very homes/apartments that people are renting, usually have an existing mortgage. Essentially, their rent payment to the landlord is paying down in most instances, the owner's mortgage debt..
@@lenaprice6239 Are you actually taking financial advice from RUclipsrs? 😂
Waiting? Prices aren’t going down any time soon.
A small percentage of buyers are out-of-state buyers the majority are overseas investors, there is a plan by investors to buy all of the inventory available and then turn it into rentals but those rentals will be extremely high we're talkin about a minimum of $2000 a month that's 90% of the workforce income, only about 10% of the country's population makes over $2000 a month we're slowly becoming like China eventually will have brand new cities that no one can afford to live so many misunderstand China, its capitalism on steroids and we're starting to get our dose of steroids. That's why so many companies that can go overseas go overseas
People have been talking about a real estate crash and bubble since prices started rising in 2013. I still think 2027 will be the year real estate crashes. But don't take my word for it I am just a young guy who has only bought and sold a few million worth of houses in Tampa Bay. 👍 Be cautious myself and many others could be wrong and likely are.
Yup I agree with the couple.
California license plates not allowed 😭😡😤😠💩🙂😊🤠😴🤔🙄🤯😕😾🤧😷🤒
People have unrealistic expectations when purchasing a home in a subdivision. This reminds me of the house feeding frenzy in 2008. Buyers are over approved to purchase an overpriced home in subdivision with HOA fees, impact fees, water fees, etc. How many of these people can afford to stay in their home after 2-3 years? They only have 5% down and therefore no equity in their Mcmansion. They may have to sell their overpriced home at a lose and then go back to living in a "very expensive but now seemingly affordable". apartment
A lot of dumb money at work
Tampa is expensive as heck. This reporter is lying through his shirt.
C H I N A. all that dirty money.
No they restricted outbound money years ago. It’s local and corporate buyers.
@@adventuresinthebay8487 Justin Turdeau tells me different, Sir. 45 Billion from 2010 to 2015 before investigation shutdown. 35 million more then the USA. Hong Kong...follow the money
@@thedrabfour you believe the shit that comes out of blackface Trudeau? I think you have a bigger problem.
@@acz88 don't believe any politicians. They got YOU ALL FOOLED. DDDDIIIRRRTTYTYY C H I N A 💸...DIRTY DIRTY
Tampa Bay is now ruined. I just sold my house to get away from all these northeasterners coming down. So sad.
You staying in state?
Aren’t we all Americans wtf is wrong with y’all.
@@djjeffro5081 Yes, of course we are all Americans. The problem is people from the northeast in general are rude, obnoxious and pushy. Not all, but a lot. Where I lived in north Hillsborough county was a calm place. Now it's tense and unpleasant because of these people and the attitudes they bring. If you want to live among them, go ahead. All this Kumbaya stuff doesn't work in real ife. Some people are just arseholes and ruin once calm places.
@@highlymedicated2438 No, I left the state entirely.
I agree I can't stand people from up north, I never met anyone that I liked from Minnesota, Indiana, Wisconsin, Illinois, North Dakota and South Dakota, Michigan, or anywhere in the north , they have the worst accent's almost like Canadian gibberish. There is no Mutual friendship there, all them people are sheltered self centered and slow
The bidding wars aren’t going to stop any time soon
CASH IS KING!
Those neighborhoods in this video don’t have trash scattered around the streets; and on the lawns of the houses!
Foh
Don’t worry new police officers/deputies aren’t able to afford anything in Tampa soon
Moving to Florida let me see hmm thats a NOOOO for me ✋🏼
It's so cheap because Florida is going to sink into the ocean Global Warming
Give up. It’s over
Haha realtor advise is get a good realtor haha
Sunshine State? Don’t old shopping karts get sent to Florida to die?
😂
It's also benefitting local families!
2:30 "I think we're in a bubble 100%." Based on? Oh yeah "What comes up must come down." That's high level stupid.
Ok, go ahead and buy bro.
I'm not.
He is correct though. Locals are absolutely being outbid and for local buyers this is a bubble. In Florida 70% of the working population makes $15 and hour or less. We are going to end up with a lot of problems like more homelessness if increased housing and rental prices becomes a permanent trend.
I started in real estate in 1991. Back then it was the Saving & Loan crisis. Then came the sub prime roller coaster. Now in 2021 its the same ride with different ingredients. Real estate prices are driven by economic conditions. Thinking that this level of demand is permanent is not level headed thinking. The history of pricing shows areas like Tampa, Miami, LA, Phoenix and Las Vegas all lead the way in real estate booms and we crash the hardest when it hits. Most of my investors have sold all their rental homes and only kept their homesteaded property........ just like they did in 2005. So to the knucklehead that called me
“Stupid”...you just go buy yourself some extra real estate and let me know how that works out for you in 3-4 years.
@In Your Empty Skull to a degree. But with people coming from the north, they pay WAY over appraisal in many cases. But you are correct, many of those appraisals are “sheeeeccchhhh”..... stretching a bit
I agree. He sounds like an uneducated moron. Bubble only appears when inventory exceeds the number of buyers. As far as foreclosures go....banks will work to keep you in your house, refinance and add missed payments to the end of the loan and add another 10 years to pay. If you're waiting for a foreclosure, you'll be waiting 2 to 4 years. Good luck everyone!