What happened in California and New York is now happening in places like Florida, Tennessee, Arizona, Texas and other US states. The unaffordable housing crisis can and will get worse as more people flood into these states and the demand for housing goes up but not enough supply is being built so prices will continue to rise. When you get priced out of area eventually you’ll have to move to a cheaper state. This is gentrification at the state level.
@@Yandel21ableify No, Strive and thrive. I am successful because I ignore the background noise. I always knew all I have to do is find ONE. Deal. Today, after many years of patience, the housing bubble is a good thing for me. I don’t look to others to get me there. I came from Italy when I was 15. I was blown away that you can work and earn money as much as you want. I’m no genius but 16 hours a day for years keeps the cash growing IF YOU LIVE BELOW YOUR MEANS. Maturity is identifying your needs vs your wants. Good luck!!
You are correct. I lived in SW Ontario for years and the average home in London is over $650,000 for a cookie cutter. No "local" can afford it unless they bought a few years ago.
@@mikegeee3319 indeed, they just want workers to wait on the old population that move there, but the workers can’t afford to thrive not just survive in shithole Florida
Guess they worried get voted out if pass any rent control laws to where they cant raise it so hi anytime later. like any state with lack of places to buy or rent just gonna get more homeless later.
Just depends on how much was paid for the house. If the mortgage, insurance, and taxes are $3,000 a month, the owner has to use that as a starting point for rent.
Exactly. Our godvernment officials can decree and regulate the price of anything as seen in California, NYC, etc. There's nothing they can't achieve as seen in 2020. Including fighting greed and hate because emotions like these run the world, not "logic" or "reason". Supply, demand, demographics, markets, investment, capitalism, etc are not economics or science but just right-wing make-believe myths.
@James Deam until it's valued at $500k and you can no longer afford the property insurance. Or you have another financial issue (other than your mortgage) and can no longer make payments. You don't own your home, you probably signed a 30 year lease and if 70% of your income is going towards it then how much equity are you really building? In reality you're just as fragile as a renter a paycheck or financial emergency away from eviction.
My rent for a three bed/three bath 2000 sq ft house in Boca went from $3200 two years ago, to $3750 last year and now my renewal is $5k. I’m a single mom. My child support isn’t increasing. Income isn’t increasing. So now what? The house was worth 400k when I moved in and now, without any renovations or improvements, this house is now worth just under $1m! Seriously? Wtf is going on in this country!!!
You could live in a nice BIG 4 bedroom house, on a nice chunk of land out here in Oklahoma for 5k per month! Unfortunately we don’t have the ocean to be next to but it’s affordable.
@@galupproperties3098 where are the cheapest states that everybody's moving to causing the prices to skyrocket as everybody wants to move there, with Wall Street investors showing up first with cash?
@@zAlaska idk I mean states like Oklahoma, Pennsylvania states like that still offer rural areas for cheaper prices. You will never really see affordable housing in cities it never has been.
And folks complain about California. Guess what… the average citizen needs to be able to earn a decent living wage like our parents and grandparents, who were somehow able to buy homes. The middle class is being strangled
The middle class is being removed. Erased. Obliterated. This country has turned into something other than the land of the free and the home of the brave. We’ve turned into the land of chaos and the loss of our constitution.
As i have seen videos and read that almost everyone wanted to move to Florida for any reason and now it has caused all things to rise cause so many have moved and so owners are wanna charge more to get more cause pandemic and any other reason besides rent not got cause renters not pay for any reason. so it may just cause everyone or some to move out of Florida for cheaper places maybe.
Don't allow corporations to buy up all the housing inventory. It turns into a monopoly. They hold off renting houses long enough to make the supply shortage then raise the rents astronomically and say it's market driven. I say it's market manipulated.
Yes, but that's just a symptom. The root of this evil system is the Federal Reserve banking system. The "money" is created at will out of nothing and then lent into existence AT INTEREST - which represents an INFINITE return on investment for those tied into the system - banks, governments, government contractors, "investors," etc. They also artificially set the interest rate, so not only is the money not real and not representing actual production in the economy, but the cost of money - the interest rate - is also fake and is merely the whim of the Fed at any given time. They just increase the money supply constantly, create massive inflation and debt, send all prices skyrocketing, and create boom and bust cycles. And all of this then results in people clamoring for government to "do something" to solve the "crisis." And it's one crisis after another after another until all of our liberties and all of our wealth is gone. Until people genuinely wake up to what's actually going on, this will all continue.
not just U.S. corporations....WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
But when you state "don't allow", doesn't that have to be done as a law? Also we should keep in mind that corporations do like to contribute to politicians' reelection campaigns.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
Yeah its ridiculous that I cannot afford rent and find an apartment here. I'm 28 years old and still living with my family because everything is expensive here. I may move to South Carolina because of this. Its sad that I'll have to leave my old friends behind because of the way everything is around here.
I lived in south Florida since 2004 and I had to leave it break my heart that I had no choice but to leave the only people who can afford and who desantis want to live here are those that have money everyone else is a burden that must leave to make way for the wealthy ones
Affordable housing programs in South Florida has been a scam for 10+ years. The low income threshold wouldn't allow anyone to keep a home without being foreclosed let alone justifying the purchase
Affordable housing is a general scam anyway. No profit in it, needs taxpayer subsidies. Government should not have turned low-income housing over to the private sector, like throwing fresh meat to the wolves...
@@juliapurdy4653 yea. Same in nyc. Once the projects were eliminated it created a massive homeless problem. I have tried numerous times to purchase through low income house plans yet for some reason I always made too much. Imagine the threshold for a single person is 40k to buy a 400k subsidized house through these programs. It's impossible. Then to find out the people who get the hones are children of rich people who are in college or just graduated. So its all designed to give back to the rich not middle class. I'm so disgusted because I was screwed at every turn. Including using down payment assistance programs. It's makes me angry as I could have had a home from 2015 for half the cost as now in nyc but the game playing was severe. Even after I give all documents electronically repeatedly they keep "losing them"
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 it's all planned. Bankrupt and turn Americans homeless. Replace with illegals who get free housing that don't care for constitution or right and create a new America
It’s happening because we decided a long time ago that only low density SF housing could ever be built. It’s actually illegal for developers to build anything else, and the minute they want to build a fourplex in a single family neighborhood you get the NIMBY crowd overturning it.
For many wanting to buy a home, their only option is to wait and keep saving. Completely priced out, and if nothing is done there will be civil unrest. Housing should be a human right, not an investment play thing.
Yeah there is no other option, is crazy … but with increases in rent there will be nothing they can save either… although I am an owner, I was looking into selling my condo and get me a house … but there is no way I will be paying over 2k for a house … even after putting a good down payment 🤷🏻♀️ It is crazy how much a mortgage will be … so I will be just keeping my little condo 🤷🏻♀️
This is capitalism, you're either from a rich family or you will be a slave to a rich family. If you were silly enough to be born in a place where you can't exploit natural resources for personal income, what are you even doing bro? Just lie down and cease to exist you failed
I really don't think 20,000 houses is in 10 years for all of Florida is going to make a difference for the people today or in 10 years. Especially when the case study of this broadcast was just for palm beach county. Across Florida the politicians are selling out their current constituents for wealthier people. We need to go to our local commissioners and representatives and work with the for better solutions before it's too late, if its not already.
If we are talking about rentals specifically (and not homes for sale) it is too late, unfortunately. Rent doesn't go down. It can only go up or stagnate, according to economists. Home prices fluctuate with the market and can go up or down, but rent does not go down. That is why major hedge funds have recently been buying up homes by the thousands and turning them into permanent rentals. Rentals are where the real money is and they know it. Rent prices are skyrocketing across the whole state and we have one area of the state, the Tampa Bay area, which is seeing the highest percentage increases in rent in the whole nation. This is a most unfortunate situation for Floridians like myself.
ya'll never heard of sinkholes, or just don't understand the physics of how they work? there is a reason most of FL is zoned for low density housing. put a building in the wrong place and watch it be eaten by the ground. there are other geography issues that make it so that no, its NOT a good idea to develop. but how's this?? .... it's not just U.S. corporations.. WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
All of the out of state folks from up north and out west are buying up all the properties. Natives are simply being priced out, because our income is much lower than the wealthy escapees....
For years they told you taxing is the reason why California's rent is so expensive. What are they gonna say now that a taxless state's housing prices are getting gouged?
High taxation is one cause of high prices and rents, but it's not the only cause. The main cause is the creation of fiat money and credit via the Federal Reserve banking system.
It's immigration. The lack of habitable space makes California worse but Arizona now has high housing costs in the Phoenix area. Arizona may just be taking in a lot of people from California.
It's peculiar that they fail to mention how property taxes have risen so much on rentals. It's approximately a 25% increase each year if you own a rental property. The politicians like to keep this secret because they love this form of revenue to finance their budgets. This, more than increased insurance costs is contributing greatly to the rise in rents.
@@MAOjax I don't own more than one house. I bought the house to live in for when I retire, but I doubt I'll be able to afford it due to property taxes.
Stop allowing corporations and the super wealthy to hoard all of the real estate? This isn't just happening in Florida, it's all over the U.S. Housing prices went from outrageous to nearly impossible, even with a decent paying job. This just isn't sustainable.
@@sprague49 the point is that these are families that have lived here in SF for years and are being forced out of their own neighborhood to accommodate the new people. If anything, the people coming in should look at the homes in Tallahassee and surrounding areas.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
Bingo!!! However, everyone, especially republicans, scream capitalism. Market forces, all that jazz, right? Well, this is what capitalism gets you. Let the strongest survive.
@@dontbanmebrodontbanme5403 It's not capitalism per se. It's mostly that because of zoning regulations, only large companies can afford to build multi family housing, leading to a monopoly.
@@beback_ While zoning regulations do make it difficult to construct more homes in an area, that's not the problem. For example, San Francisco has already been analyzed and even if zoning issues weren't a factor, there wouldn't be nearly enough homes to drop the prices down to something more reasonable. The biggest issue is exactly what Rickee said: shell companies, with billions and billions of dollars at their disposal, are coming in and buying up all of the inventory. This forces prices on the remaining inventory to go up, forcing some people out of the market entirely. Those people are then forced to rent, which is exactly what these owners wanted in the first place. Once they know these people have no option but to rent, when then they can jack up the price, can't they?
@@beback_ To me, there's only two solutions: 1. buy a home - easier said than done in this market. Obviously it helps to have already owned a home way before this house price spike happened 2. move to another country with cheaper prices - Mexico, Costa Rica, Panama, something like that. The problem is this only delays the inevitable and when prices go up in these countries as well, you really want to be owning something at that point.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 Thanks for telling it like it is Nick, but the governor and the lawmakers already know that. The wealthy in Florida wants to keep slave wages, and housing for the middle/lower class people like the slaves in third world countries.... think about it. Walmart is the company store. No insurance for the houses, vehicles, poor health insurance and care. Don-the-Con is there, hurricanes, and the hot/humid weather.
The irony is most of the homes in Palm Beach County are vacant more than half the year. I'd like to know that statistic. I recall in the year 2000 prices jumped really high as well. Than came the famous crash. I purchased my 3/2 for 95K in 2008. Everyone seeking a home, wait patiently. Prices will go down. The fed is raising interest rates.
There’s nothing going on that is going to see a crash. Short nationally 500k new units a year since 2010. Most responsible lending practices over the past 10 years, largest population of 30ish looking for housing since 1980’s. A .25% increase in rates isn’t going to hinder this market. In a couple years it will take a breath but you won’t see a repeat of the crash of 2008. The fact that many are snowbirds and the houses are empty when they’re gone has no bearing on the rental market. Waiting isn’t a great game plan.
It's true about the large amount of vacant properties! I live a little further north near Melbourne Beach and I see it everywhere up here too. Very strange and bizarre especially in times like these where lack of "inventory" is a big factor in rising home prices
@@Dbb27 Thats an NAR stat that takes population growth from the 70s. Working age americans are DECLINING for the first time .....ever. You can imagine how that ends.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
The State Congress and Governor give zero F's about this. Correction: They give zero F's about your problem they care about developers and banks not average Floridians.
Exactly!!!! DeSantis pocketed the 800 million he took from the Fed in December 2020 that was earmarked for rental assistance. So far he has earned over 9 million in interest off that money.
@@littleredhen3354 Unfortunately we have a large geriatric population that loves the guy. I have no doubt he will win re-election. I swear they are called boomers because they are political terrorists.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 I 100% agree and have been saying the exact thing for months now not because the government said so but because that's what I'm seeing on the ground with my own eyes. The demographic change is that pronounced. Florida deserves to turn into an overpriced ghetto with no services and shuttered businesses surrounding the million dollar trailers.
I was a renter, had school loan debt, and don't have a degree. I got a decent job, worked more hours then my coworkers, went out less then my friends did, and bought less then my neighbors. I sold my car and took the bus. Now I am debt free (other then my mortgage) and own a profitable duplex. People just want to float by in life and when a wave hits they want to cry and have the government safe them. I'm 31 years old, born with nothing but a low IQ, but I'm a hard worker and willing to sacrifice.
I'm a renter to here in South Florida and it can be daunting thinking about the prospect of owning a home here, especially when you're still in debt. So thank you for sharing your story it's very inspiring.
John A... I too have been a homenowner and landlord before the age of 31... Take this from experience... This issue is deeper than laziness or someone wanting a handout from the government... This is about a shift in income and values... While you were riding the bus and saving your coins, there were millions making coins on social media and new tech... You only have a blueprint to what you know!
@@richardsou You missed his point. While he was making sacrifices, being intentional, and practicing delayed gratification many people are taking the hope and pray approach to life. They are then shocked when life slaps them in the face. The reality is most people aren’t doing the things they need to do to prepare.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
At least you guys in WPB area are talking about it. The politicians in South Florida are not doing anything about it. It really sucks here in Miami and Fort Lauderdale area, even as a nurse, I'm struggling and I refuse to pay $2300 for rent. I regret the day I sold my home in 2010, when the market was sluggish.
What are they supposed to do, build a wall? The root problem (aside from investors) is all the residents moving in from out of state, who sold their homes and are flush with cash.
I agree with you Ms. Young. I sold my house in 2021 and I regret it every minute. Paying between $2,100 to $3,100 for a two bedroom apartment is absolutely unthinkable. The government has never helped the people and only the financial institutions.
The non-profit organization Strong Towns gave recommendations back in 2016. End R1 single family zoning, provide missing middle housing, provide public transportation and non car centric systems
The solution years ago in Los Angeles was rent control. The result was the landlords didn't do any repairs to their properties, buildings deteriorated and the homeless population continued to increase despite that measure.
The solution is to not let capitalism run amok. So many have been scared away from socialism. We don’t want to be like Venezuela. I agree, that’s not good. However, the other end of the spectrum isn’t good either. This is the other end, where billion dollar shell companies can come in and buy up all of the inventory, then jack up rents as much as they want. We need to not allow shell companies to buy property. That would be a good first step to solving this. I have other ideas as well. Otherwise, billionaires will own us all.
@@beback_ Uh, no. You don't get it. A free market is exactly the problem! Imagine there's five houses on a block and there are five people who are interested in moving onto this block. One of those people, however, has billions of dollars and, for each house, comes in with an all cash offer, 20% above the asking price. Unfortunately, those four people have to now check out another neighborhood. Now imagine if that same scenario plays out on every block every place these 4 people go. That's pretty much exactly what's happening in the US. It's actually happening in many cities all around the world, actually. If Elon Musk, Bill Gates, Jeff Bezos and Warren Buffet decide to buy up millions of homes, do you actually think you could compete with them? No, you'd get squashed like a bug. Like I said, we've been sold on the idea of socialism = bad and capitalism = good. WHAT IS HAPPENING RIGHT NOW IN THE HOUSING MARKET IS THE RESULT OF CAPITALISM!!! If you don't get anything else, please understand that last sentence!
@@beback_ Again, you're totally right here. Local governments are limiting the supply of housing-- that's why we have a housing shortage. The free market would be a LOT better than what we have now. (Although I think some public housing would fill in the gaps for poorer people). DontBanMeBroDontBanMe! doesn't understand that the problem is with restrictive zoning. And I'm a leftist. Ending restrictive zoning will get corporations OUT of the housing market because their prices will stop skyrocketing.
So she didn’t have a problem when she priced someone out of their home at $2790 a month. KARMA $3900 is affordable to someone so she will have to move. Now she wants the government to do something.
One way to alleviate this problem is to allow smaller, alternative homes (tiny homes, container homes, barndominiums, etc.) in more areas. I have a ton of 3D concepts on my channel with free floorplans. I'm currently building an off-grid semi trailer in FL. We gotta start thinking outside of the box. This issue is only going to get worse due to inflation, material shortages and rising lumber costs.
@@fashionlife5348 they did no such thing, we still have plenty of "trailer parks". A tourist area we are, so fine, How about people stop moving here and just visit?? the very ground upon which we stand here canNOT support the physical weight of the amount of people who want to flood the area. what's more, i hate it when people move here cause they had a nice vacation then complain its not like it is up north and we "don't have proper seasons" and confusing weather. Go HOME and leave MY home Alone! thanks for visiting, please pick up Your Trash!
Most of these homes are bought by zillow, vanguard, blackrock and other billion dollar companies, when then keep them off market, or as rentals to inflate prices. Look into it, it's out of control. They are talking your homes and forcing you to pay double if can afford it, but also creating the biggest bubble the world has ever seen. We need new laws to stop corporate investors to used priveate homes as commodity options, and that's what they are doing. There's not suddenly more people with money in America. These billion dollar corporations are intentionally limiting supply to increase prices.
Dezoning it's called and yes dezoning would completely obliterate the problem. The problem then is stuck up residents who lobby out the middle class that are looking for this solution.
I lived in FL for 20 years until my landlord hit me with an almost 40% rent increase for a 1/1. I was there for 6 years. I got a completely new remote position and moved 5 states away. Move y’all - just go. Go where you are welcomed and appreciated. We can always go to FL on vacation. Rent had increased everywhere in the US but a lot of states aren’t as bad and wages are generally better in other states. Florida will get the hint and maybe it will truly just be a state for tourists 🤷🏾♀️
@@KevinGonzalez-vz7rz Florida's property taxes and insurance has skyrocketed...I moved to Vegas from Florida and glad I did. Homes aren't cheap here by any means but low insurance and property taxes level it out. Oh and I don't have to worry about hurricanes and humidity all year.
@@KevinGonzalez-vz7rz that's like saying hopefully Florida doesn't erode away or California doesn't fall in the ocean from earthquake 😂 I only have control over what I do, not mother nature.
@@nicholasthompson7690 heck yea my first rental mortgage was 52k. My yearly taxes are still less than 2k a year. My landlord insurance policy on that property is $692/year.
We don't want to be "the Wallstreet of the South"! Locals HATE what's happening to our area. My family is going to have to move out of the state bc of North Easterners moving here & contributing to gentrification! Gentrification is killing what we've always known our home to be in more ways than one.
I'm sorry, but nobody is holding a gun to your head telling you have to live in Florida. I'm getting quite tired of hearing people complain that the middle class is being squeezed out of California, Florida, New York etc. I live in the mid-west and yes the winters can be quite brutal, but it's a small price to pay. In my town there are still plenty of homes for 200-300k which is well within most middle class budgets. Life is about priorities. If you prioritize living in beautiful natural environments with perfect weather - be prepared to pay. If you put priority on being able to sleep at night knowing you can pay your mortgage - there are still many other places. No sympathy from me. We can't ALL live in paradise. Some people are just really jaded and think "fly over country" is an impossible place to live.
Totally agree, like the old saying goes " If you gotta ask the price you probably can't afford it". Factor in things like skyrocketing food & gas, insurance increases, taxes, and many other things then you really can't afford the South Florida lifestyle. 😄🇺🇸
Those of us complaining about the increase in rent and that there is no affordable housing here cannot just move. We live in Florida because this is where our families, friends and jobs are. Would you like to have your rent raised at renewal to $600-$1100 more a month? Could you afford it? Could you afford to move? What about if someone has to leave an aging parent, take a child out of school, find a new job, buy clothes for weather you have never been in? Would you then think it so easy to just move to another part of the country?
Move North to the Space Coast. This area was overbuilt during the Apollo days and never recovered. I moved from a mobile home in Hollywood Florida to a two story three bedroom house on a canal in Merritt Island.
When the service people all leave the community because they can't afford to live there.... and the wealthy have to do their own support work...... Then it will matter.
The moral of this is plan for your financial independence long in advance. Buy your own home should be the first major investment in your life in this country. When you rent you have no control of the future payments. There are decade old successful businesses being forced to close because of jump in their rent. This is a hard reality and you cannot look to the government for help, as even if there is, it most likely will come too late.
not just U.S. corporations.. WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
@Plane Sight Idiots like you blaming non citizens when most countries allow foreigners to buy land. It's not a citizenship issue, it's a residency issue. A person of German nationality who is a permanent resident of Tampa isn't an issue. A Snow bird from New Jersey who buys property that they only live in 2 months of the year is.
@@planesight1142 what? why shouldnt legal, permanent residents be able to own land? that is absolutely ridiculous...if you are a resident you should be able to own land, just like you can own a car, a business, etc. at least 15% of this country are legal permanent residents but not citizens. so my moms been here since she was 19 and now shes 55, she cant own a house? f outa here with that attitude
@@bcoconuts as a Pinellas native I have watched my beautiful, tropical, GREEN county be DESTROYED by houses and condos. This Florida land can only hold little weight. try Georgia.
I was born and raised in Palm Beach County. Left at 18 to go to college in Tallahassee and haven't been back as a resident since. Been in Tallahassee since 2008 and finally left in 2019 for Houston, TX. I live on the 6th floor of a mid rise and my rent is less that $1300 with real granite island and stainless steel appliances. It's unfortunate that I don't see myself ever returning "home" as I can purchase a 3/2 brand new home for under $300K here. Don't understand it.
I'm sure that'll all change soon. It seems to be happening all over. It's plain & simple price gouging. I am a landlord & I haven't found anything legitimate reason to raise rent.
@@doubtingthomas8305 You are correct. My rent was to go up to $1400, which isn't too bad but they sent me a renewal for the same price I currently pay so they have to honor that one. The issue is big tech. Tampa and South Florida, Houston and Austin. With remote work and Silicon Valley relocations, Californians are coming in droves to Texas because they're paying 2/3 less for more space and brand new units here. It won't stop. I was recently in Tampa because that's where the company I work for is, the trash I would get there for around $1800 compared to what I have here for $600 less doesn't compare. Even as the prices rise here, it would be nowhere near South Florida prices. It's unfortunate, because I will always be a Florida boy, but my future kids will most likely be Texas babies.
In Houston? Where do you live? I left Houston in 2017 to Round Rock because Houston rent, cost of homes were increasing and crime was and still is through the roof.
Unfortunately, crime will be everywhere... The bigger the city, the worse it can be. I live in the Katy area. Even if the price increase,which it will, it won't be near as expensive as South Florida and Central Florida.
@@Jonas-nf2bc yes crime is everywhere but Houston has become one the most dangerous cities in the USA. Katy is nice for the most part depending on the location but too close to Houston for me. Katy has been in the news for crime lately that Katy typically wouldn't. Katy is in the news now for a school brawl that led to a 17-year-old death. Most people who live in cities surrounding Houston usually have to commute in or through Houston. It's just not for me anymore.
Unfortunately, the costly government permitting and bank fees are just as high for a million dollar home as a 20K tiny home. That is why it isn't even possible.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
How about stop building only single family homes and build more sustainable multi-family units with walk-able infrastructure and public transportation which will also reduce traffic.
We have so many golf course here, plenty of land but the stinking regulations set by the counties are the problem. I know because it took me 15 years to solve and EPA non issue which was absurd!
Why? So you can continue to complain about rent? Don't want people to own anything? How about no. It's better to own then to rent and single family neighborhoods are safer than multifamily neighborhoods. Get your blackrock great reset B.S. out of here.
@@Law19157 What are you talking about? Where did I mention renting? You can own a part of or a whole multifamily unit. Same goes for condos and similar types of real estate. I agree Blackrock is awful and think they are doing a disservice to the US economy but they're buying up all kinds of properties including single family homes.
@@TatamiDisco Most people would rather own a single family house than a condo and given the pandemic, why would want to want increase population density putting people closer together? There are affordable properties outside of palm beach.
@@TatamiDisco while black rock is buying a lot of homes, most home buyers are owner occupied not speculative. Prices have increased because that’s what the market can support. We are not all broke.
That's pretty bad. Basically a relationship mortgage. You're not alone, most dual income housheholds making below 150 combines are effectively in the same arrangement. Paper marriages.
Rent controls backfire and stop new construction. Excess vacancies from building too many apartments will drop prices. Smartest thing I did was to buy a humble home on an eight acre lot in middle of nowhere outside Saint Augustine, FL. Now I am surrounded in my paid off home by new homes and property that I could never have afforded. People, buy and payoff a home that you can afford while you are young. Don't think your old and worn out bodies will be able to pay ever escalating rent.
😞These stories are so sad. This problem needs to be addressed quickly. Everyone needs a safe place to call home. We all need to work together to solve this. It is not fair to raise rents that high and for corporations to buy family homes pricing other people out of the market. Corporations should be buying commercial real estate in cities not family homes in neighborhoods. The mission should be to address these problems and find solutions now.
I completely agree that unaffordable housing is unacceptable. People need a place to live. Investment firms are buying up housing units. This is true. It's not hard to see why they do this. Home prices have been skyrocketing recently and this is really bad for renters and homebuyers. Investors like these returns so they buy homes. Why are home prices skyrocketing? It's because there's an artificial shortage of housing. Local governments set the zoning codes that often ban anything except a large single family house. This super low density means it's impossible to build enough homes for the number of people. And since the supply of homes is low, the price rises. If we want to make housing affordable and get corporations out of home buying, we need to repeal these stupid zoning laws that ban more housing.
All them excuses for raising prices… at the end of the day it’s Greed & Evil, lust of money. A normal good human, can make money while helping their brother. Wanting all the money while the masses suffer is furthest thing from a functional society, but a goofy will mask it as “capitalism.” Let everybody eat
I don’t have a problem with people buying a home as a primary residence, but I do have a problem with investors flooding into areas, crowding prospective homebuyers out of the market because someone with a mortgage can’t compete with a deep-pocketed investor, and turning communities of homeowners into neighborhoods of renters. Increasing rents make homeownership further and further out of reach for prospective buyers, and the monthly payment is higher for renting a single family home than it is to buy, so people are being forced into a bad financial situation by being squeezed out of the housing market. Lawmakers should do something like giving homebuyers preference or rights of first refusal if they are going to live in the property, or increasing taxes on investment properties vs. people who are buying to live in the home, or capping the number of homes that investors can buy unless it’s in a development specifically built as a rental development.
Every Republican screams capitalism. Well, this is what capitalism run amok looks like. When the billionaires come in and buy up all of the inventory, you can’t complain because that’s capitalism. Let the strongest win! Maybe, just maybe, a little socialism with capitalism is the best solution?
@@dontbanmebrodontbanme5403 Republicans support capitalism, but what is going on here is corporatism. There is a big difference. One encourages fair market competition and regular people earning side money and small businesses for a better economy..... the other is corporations gaining unfair market advantages through government to squash small businesses and people out and is often confused for capitalism. There is a point where it crosses a line. Also going socialism won't help. Look at germany.... they are socialist and they have far worse housing issue than we do. Most homes are owned by a single company and its gotten so bad that people are trying to force that company to sell a good majority of the homes so that regular people can own a home.... the don't want to cross that line and become authoritarian and set a precedent for property seizure.... but now they are backed into that nasty corner. I do think we need to rethink things and offer up incentives for sellers to pick owner occupied offers over investors so that we can fix a bit of this mess with as little government interference as possible. Though really what might do the best to fixing this mess is putting some limits/taking away tax benefits on properties as investments over a certain amount for certain situations outside of multi family rentals/apartment buildings (since really its a single family home issue) would help a bunch to lessen the incentive to choose to buy real estate over other investment opportunities. That way it won't hurt homeowners with 1 or 2 properties legitimately and only effects those who invest. I would especially be OK with penalizing larger corporations that have multiple single family homes and have them pay into say a homebuyer incentive program so that way its paid by the corporations rather than taxpayers and helps those who have been displaced potentially by those same said corporations. Think of it as the housing equivalent of carbon offsetting in the energy and shipping world. if you impact something more you better make up for it more.
This is insane!! No one has a "right" to live in a specific location!! You have a choice-if you want to live where it's beautiful, you pay the price...it's like complaining that Lamborghini's aren't affordable....
Seems like some of us are so stupid that we are out of touch that none of these people are trying to afford penthouses on the water. Most of St. Pete isn't even directly on the water.
@Blaze6432 I never said stupid but......asking government to intervene to prevent someone from getting as much value out of their property as they can, just because you WANT to be there but can't afford it, is ENTITLEMENT, not equal rights...
@Richard Paige So basically you just move them to a whole alien place, and then when that becomes unaffordable, you move them again? So that's you idea of sustainability? Or better yet have them move 3 hours away and then have them commute to work because nome of the people who are buying up these properties want to do the blue collared jobs themselves? Housing is not a commodity, it's a right, just like food water and shelter. Having affordable access to basic needs is what the government is suppose to be. This is not an opinion, it's a fact.
The primary issue here has been covid 1) Covid restrictions in states like NY, California and the North East as well as even Canada now is leading to people leaving those places for Republican warm places. Florida is primary and Texas is the other 2) People in tech who are allowed to work remote because of covid can now go to more “affordable” places. Florida has no state income and warm weather and it’s “cheaper” than San Francisco, New York, Boston etc 3) REGULAR employees, non tech, are now also allowed to work remote and so they have also chosen warm places and FL is a big destination 4) Supply chain issues from covid related matters has led to delays in materials and spikes in prices which means new construction homes are way more expensive 5) Government printing a ton of money and allowing people to live off the unemployment and mortgage protection programs which allowed people to not pay rent or mortgage. People quit important jobs. Like construction jobs because they were better off with unemployment Only things that can help turn this around are the Feds raising rates drastically to bring the housing prices down and inflation as well as COVID as a dangerous threat turning into a common cold If covid ends this summer it will help alíviate a lot of things because people will go back to work. Companies that were allowing people to work remote will want them back and that will lead to some people having to move back where they left. Prices of home building materials should come down. Price of shipping should come down etc We just all gotta hope COVID becomes a common cold that worries almost no one for a lot of these things to kind of reverse. Land is still a problem in FL but this is not a new issue. The amount of people moving there cause of covid is what made it a bigger problem Let’s all hope omicron is the last hurrah for a serious variant
@@dcg590 That was not a thing before. If you couldn’t pay you don’t get the option to pay later. You got foreclosed. Millions of people who would have been foreclosed on kept their houses. This starvation of a NORMAL process which the housing market relies on to stay balanced, coupled with supply chain issues and houses selling at record pace is what has led to this super low inventory I am not advocating for people to lose their homes either I n just telling you that not foreclosing on people kept others from being able to buy houses and led to this issue we have
@@UrbanBDKNY yes true that was new thing when Covid hit. Normally you’d be foreclosed on but you don’t get out of paying like renters do. Yes it did lead to the issues we have now. It was all planned.
Republicans don’t believe in helping the working class because the working class keep voting for republicans. Republicans are doing nothing but helping the rich pay less taxes.
At some point you have to realize that government is not the solution to your problems. Prices have increased because that’s what the market can support. If the demand wasn’t there than prices would go down. Most home buyers are not corporations and speculators. Perhaps you’ve been sold on the idea of having it all without having the income. Those that have decided to have more than just being “middle class”or make “living wage” are doing just fine.
Don't forget, it's not just U.S. corporations.. i do not understand WHY we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nicholasthompson7690 Charlotte cost of living is very high. We are currently in Concord. I think Raleigh is a little more reasonable right now, but still on the rise.
Meanwhile in rust belt cities - rent is 400-800 for a 1 bedroom or studio. Florida has nice weather, low taxes, and tourist attractions. Rents need to go up more to force people into all the vacant houses in undesirable areas like (Cleveland, Buffalo, Detroit, Milwaukee, Dayton, Toledo, ect). These cities have bad weather and no tourist stuff and plenty of jobs. Sunshine aint free.
It’s become beautifully developed downtown and around the inner city, I’ll say that. And used to live in Palm Beach too. Came up to raise children here over South Florida.
@@apove1814 For a 1 Bedroom in Buffalo or a small house? I'm looking at zillow (rents) at Buffalo and Niagara Falls and see good deals on rent (1 bedroom)... Suburbs look expensive though... Buffalo has tons of listings on zillow between 850 and 1600. Niagara Falls looks cheaper though (600-900)...
@@donaldmeier1911 Check out zillow rentals - really depends on the area in Milwaukee... I'm seeing tons of 1 bed, 1 bath rentals 600-950... I'm also seeing a good amount of rentals in 1600-2300 closer to Lake Michigan/Downtown/East of Milwaukee River... I'm also seeing affordable housing in Milwaukee but not in suburbs. Housing is very unaffordable outside of city.
the way things are trending across America, california aint the exception, they are just ahead of the curve..every state will catch up eventually it seems sad to say
Ocala, leesburg area are almost 50% as well. 2017 I could rent an ENTIRE decent home for $800. Know I'm paying 1200 for a 500 sqft apt that is really not that great but I can't afford to live anywhere else. I'm afraid of what my Ren will be once my lease is up in Oct. 2022. To rent an entire decent home is about $2000 now. It's getting ridiculous you can't buy anything as know we're priced out of the market avg homenprices here are 200k plus. We barely get buy paying a 300k mortgage payment for rent, there is a serious problem and I'm looking to have to move back up to northern WI were housing prices are much cheaper. I like fl I don't want to leave but the price to live here is getting into the realm of impossible.
Damn, 52% increase? I know that a lot of the house owners that rent out increased their rent while they wait to get reimbursed, but damn, that’s very unfair.
If the owners cost of living went up 52% then you can't expect that person to just eat the cost of Brandon's inflation. This is what we have been trying to tell you about Democrat spending and lockdowns. Registered Democrats should forfeit everything they own so we can redistribute it to these people in need.
@@juliapurdy4653 #1 The Federal Reserve Bank. #2 The Democrat Party. The reason housing has doubled over the last 2 years is directly related to lockdowns, mandates, defund the police, etc. in DEMOCRAT states!
If this lady is paying $2,790 per month for rent, why doesn’t she buy a home? If she did that, she wouldn’t have to worry about rental price increases.
Yeah, why not? One, maybe she does not have the downpayment. DP is something you plan for. She didn't plan on buying. Two, the prices are going up so fast, next month you would not be able to buy back the house you just sold. Three, investment combines are gobbling up every reasonably priced home - or making unheard-of offers - to "flip" homes, convert to AirBnb, etc. All puts pressure on supply, with price inflation resulting. It is intentional. These investors want to be another Elon Musk or Jeff Bezos. Government needs to step in and "just say No."
@@pepperonipete7566 my parents mortgage in Boynton beach on the intercoastal is $1300 a month they bought in 2014 though lol my aunt recently bought a 4/3 in Boynton and her mortgage is $1800 a month. The real problem is the flippers and foreign investors that snatch up homes the second they go up for sale buy them and put them back on the market the next month at a higher price my aunt was looking for a year and a half before she found her place.
No, they are not - obviously you are not a home owner. Have your ever heard of property taxes? Housing will not collapse only increase to price out every day workers. Stop watching CNN!
@@frozentundra7446 the population of the USA is not increasing , this is an artificially created problem to jack up prices. Once the middle class cannot truly afford a home prices will collapse .Just like 2008 you will have people filing bankruptcy on these 1 million dollar properties that fall down to 300k .
So a new landlord buys a property at triple the previous value and escalated property taxes, but he should be forced to charge the same amount of monthly rental as before? Wow.
800k is a bargain in California. My home under construction here in Palm Beach County for which I paid 360k goes for 3.6 million in the San Francisco Bay Area.
Insuring a house in a wetland at sea level that gets blasted by an increasing number of hurricanes and rising sea levels might have something to do with it. Right?
If those increases are not price gouging, what does constitute gouging? There is SO much corruption in So. Florida I'm amazed anything gets done. Good luck.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida. The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals. Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force. Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future. Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away... They are going to kill this state and it will completwly backfire on the economy down here...
All of you guys always want SMALL government and now all of sudden you want BIG government and socialism?? I think you guys are greedy as much as all these investors flippers and corporations. They are greedy like you guys but smarter that's all smh
@@hyunpark8752 You guys? Who does that refer to? What are you talking about? You sound like a stupid bot, trying to provoke an argument. I don’t play both side, don’t contradict myself when representing what I stand by and for. Don’t insult a truthful person without good reason and knowledge, it demeaning and disrespectful to yourself.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
Well when you are only allow to build single family homes and low-density housing, what were you expecting? To make things worse, ppl are being pushed further and further away from the cities and services in order to afford housing, which ofc just means they spend more on fuel and gas, which means the ones closer become even more valuable. The whole country needs a massive upzone.
no investors are buying homes left and right and putting them on the market the next month at higher prices we have availability developers and realtors say other wise but investors keep on buying though so what are they buying lol
And people always think that the lack of affordable housing is only a problem California, and NY. We need to build more affordable housing otherwise we are going to have more homelessness in almost every state.
Guess what people of Florida, you will suffer the consequences because allot of low income earners are needed throughout the job market can’t survive. Where they will have to forcefully quit there jobs an move anywhere else where they can survive.
Interest rates were in the teens in the early 80s. When the Fed finally raises rates, this will slow the big investment companies down and hopefully correct the market in time.
Problem is that should of happened over a decade ago and did not. Now there is a plethora of people who know they have been robbed out of home ownership that will elect to be violent about it given the right circumstances. Unfortunately these are the right circumstances with inflation causing mass price hikes on everything all at once. Chronic homelessness shaves about 10 years off the average human life, so it already is a life or death scenario.
They can never go to the teens again. I don't know if you how debt works but we didn't have 30T in debt to pay interest on. If the interest went that high again the entire US economy would collapse.
@@jmcnally647 There is a plethora of people who will respond to that violence with violence. Feeling "robbed of homeownership" is a feeling based on entitlement. Did someone also rob you of your Tesla, your yacht, and your jet too? Or have you failed to take responsibility of what you can control in your own life? Hint: Stop playing the victim and find (intelligent non-violent legal) ways to solve your problems, which is almost always making more money and nowadays there's a thousand ways.
What happened in California and New York is now happening in places like Florida, Tennessee, Arizona, Texas and other US states. The unaffordable housing crisis can and will get worse as more people flood into these states and the demand for housing goes up but not enough supply is being built so prices will continue to rise. When you get priced out of area eventually you’ll have to move to a cheaper state. This is gentrification at the state level.
@DoanR6 gotten...not getting....
South Dakota beckons
The New American Dream is to gtfo of America.
@@Yandel21ableify 😂😂😂
@@Yandel21ableify No, Strive and thrive. I am successful because I ignore the background noise. I always knew all I have to do is find ONE. Deal. Today, after many years of patience, the housing bubble is a good thing for me. I don’t look to others to get me there. I came from Italy when I was 15. I was blown away that you can work and earn money as much as you want. I’m no genius but 16 hours a day for years keeps the cash growing IF YOU LIVE BELOW YOUR MEANS. Maturity is identifying your needs vs your wants. Good luck!!
This is not just Florida or even the USA it's all across the western world, Australia, new Zealand & Canada are also very unaffordable
You are correct. I lived in SW Ontario for years and the average home in London is over $650,000 for a cookie cutter. No "local" can afford it unless they bought a few years ago.
But Florida wages are horrendous. 4th worst in the country between Kentucky and Mississippi...that's ridiculous
its worse in nz than florida. cheapest house near me is 1.8 million
@@mikegeee3319 indeed, they just want workers to wait on the old population that move there, but the workers can’t afford to thrive not just survive in shithole Florida
Florida is a sunny place for the Shady Rich, Poor Trash, and the illegal Riff Raffs....Now, if some people insist in calling it Paradise....OK...!!!
What??? Local government doesn’t think paying an additional $1100/month for rent is price gouging??? Man we are in trouble
Yup we have to vote them out
Guess they worried get voted out if pass any rent control laws to where they cant raise it so hi anytime later. like any state with lack of places to buy or rent just gonna get more homeless later.
@@cable30 other states are having similar issues. Like Nevada, TN.
Just depends on how much was paid for the house. If the mortgage, insurance, and taxes are $3,000 a month, the owner has to use that as a starting point for rent.
Exactly. Our godvernment officials can decree and regulate the price of anything as seen in California, NYC, etc. There's nothing they can't achieve as seen in 2020. Including fighting greed and hate because emotions like these run the world, not "logic" or "reason". Supply, demand, demographics, markets, investment, capitalism, etc are not economics or science but just right-wing make-believe myths.
How much is an "affordable" home ?
300k ?
Out of reach for 99% of the people.
Banks allow you to take on a 300K mortgage on a 60K a year gross income. They encourage people to become house poor.
@James Deam until it's valued at $500k and you can no longer afford the property insurance. Or you have another financial issue (other than your mortgage) and can no longer make payments. You don't own your home, you probably signed a 30 year lease and if 70% of your income is going towards it then how much equity are you really building? In reality you're just as fragile as a renter a paycheck or financial emergency away from eviction.
The average price here in Canada is over 700k now.
Florida is a sunny place for the Shady Rich, Poor Trash, and the illegal Riff Raffs....Now, if some people insist in calling it Paradise....OK...!!!
@@theowl3756 Man this is the best definition i ever heard
My rent for a three bed/three bath 2000 sq ft house in Boca went from $3200 two years ago, to $3750 last year and now my renewal is $5k. I’m a single mom. My child support isn’t increasing. Income isn’t increasing. So now what? The house was worth 400k when I moved in and now, without any renovations or improvements, this house is now worth just under $1m! Seriously? Wtf is going on in this country!!!
No freaking way!!!! 5k !
You could live in a nice BIG 4 bedroom house, on a nice chunk of land out here in Oklahoma for 5k per month! Unfortunately we don’t have the ocean to be next to but it’s affordable.
You need to move to a cheaper state. You won’t get the ocean but you’ll be able to live a better life.
@@galupproperties3098 where are the cheapest states that everybody's moving to causing the prices to skyrocket as everybody wants to move there, with Wall Street investors showing up first with cash?
@@zAlaska idk I mean states like Oklahoma, Pennsylvania states like that still offer rural areas for cheaper prices. You will never really see affordable housing in cities it never has been.
And folks complain about California. Guess what… the average citizen needs to be able to earn a decent living wage like our parents and grandparents, who were somehow able to buy homes. The middle class is being strangled
The middle class is being removed. Erased. Obliterated. This country has turned into something other than the land of the free and the home of the brave. We’ve turned into the land of chaos and the loss of our constitution.
As i have seen videos and read that almost everyone wanted to move to Florida for any reason and now it has caused all things to rise cause so many have moved and so owners are wanna charge more to get more cause pandemic and any other reason besides rent not got cause renters not pay for any reason. so it may just cause everyone or some to move out of Florida for cheaper places maybe.
The UN Agenda 2030 Build Back Better. "You will own NOTHING and be happy"
Its sad
@@cable30 I know ppl who live in Fl who moved there frm northeast states.
Don't allow corporations to buy up all the housing inventory. It turns into a monopoly. They hold off renting houses long enough to make the supply shortage then raise the rents astronomically and say it's market driven. I say it's market manipulated.
Yes, but that's just a symptom. The root of this evil system is the Federal Reserve banking system. The "money" is created at will out of nothing and then lent into existence AT INTEREST - which represents an INFINITE return on investment for those tied into the system - banks, governments, government contractors, "investors," etc. They also artificially set the interest rate, so not only is the money not real and not representing actual production in the economy, but the cost of money - the interest rate - is also fake and is merely the whim of the Fed at any given time. They just increase the money supply constantly, create massive inflation and debt, send all prices skyrocketing, and create boom and bust cycles. And all of this then results in people clamoring for government to "do something" to solve the "crisis." And it's one crisis after another after another until all of our liberties and all of our wealth is gone. Until people genuinely wake up to what's actually going on, this will all continue.
They want as much rent as they can get now. Nobody holds back any rentable inventory a minute longer than they have to.
not just U.S. corporations....WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
But when you state "don't allow", doesn't that have to be done as a law? Also we should keep in mind that corporations do like to contribute to politicians' reelection campaigns.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
Yeah its ridiculous that I cannot afford rent and find an apartment here. I'm 28 years old and still living with my family because everything is expensive here. I may move to South Carolina because of this. Its sad that I'll have to leave my old friends behind because of the way everything is around here.
The pay scale in Florida is definitely not keeping up with the price of housing.
I lived in south Florida since 2004 and I had to leave it break my heart that I had no choice but to leave the only people who can afford and who desantis want to live here are those that have money everyone else is a burden that must leave to make way for the wealthy ones
Coastal S.C. is no better, same problem but smaller scale. There is no where to run to so might as well stay where you love and fight.
Lmao, I too am considering south Carolina. I saw some homes for rent under $1000
@@Jessicalovechocolate drive around those home at night and you'll see why it's so affordable
Affordable housing programs in South Florida has been a scam for 10+ years. The low income threshold wouldn't allow anyone to keep a home without being foreclosed let alone justifying the purchase
Affordable housing is a general scam anyway. No profit in it, needs taxpayer subsidies. Government should not have turned low-income housing over to the private sector, like throwing fresh meat to the wolves...
@@juliapurdy4653 yea. Same in nyc. Once the projects were eliminated it created a massive homeless problem. I have tried numerous times to purchase through low income house plans yet for some reason I always made too much. Imagine the threshold for a single person is 40k to buy a 400k subsidized house through these programs. It's impossible. Then to find out the people who get the hones are children of rich people who are in college or just graduated. So its all designed to give back to the rich not middle class. I'm so disgusted because I was screwed at every turn. Including using down payment assistance programs. It's makes me angry as I could have had a home from 2015 for half the cost as now in nyc but the game playing was severe. Even after I give all documents electronically repeatedly they keep "losing them"
Florida is a Sunny place for the Shady Rich, Poor Trash, and the illegal Riff Raffs....Now, if some people insist in calling it Paradise....OK...!!!
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 it's all planned. Bankrupt and turn Americans homeless. Replace with illegals who get free housing that don't care for constitution or right and create a new America
It’s happening because we decided a long time ago that only low density SF housing could ever be built. It’s actually illegal for developers to build anything else, and the minute they want to build a fourplex in a single family neighborhood you get the NIMBY crowd overturning it.
Exactly these people are disgusting they enjoy seeing the working class or people of color suffer as long as their house value went up
Hallelujah!
Why should they? They paid a lot of money to live where they want. You aren’t entitled to be where you want without paying for it
@@dcg590 more death, crime, and misery to come
This is true. If more 2, 3 and 4 units were built this would help aliviate the problem quickly
For many wanting to buy a home, their only option is to wait and keep saving. Completely priced out, and if nothing is done there will be civil unrest. Housing should be a human right, not an investment play thing.
They are being priced out because of the influx of people moving in from out of state. It's like gentrification but on a Country-Wide scale.
@@danr9584 it's sad
@@danr9584 its a speculative mania caused by manipulated interest rates. We've seen how that ends before
Yeah there is no other option, is crazy … but with increases in rent there will be nothing they can save either… although I am an owner, I was looking into selling my condo and get me a house … but there is no way I will be paying over 2k for a house … even after putting a good down payment 🤷🏻♀️ It is crazy how much a mortgage will be … so I will be just keeping my little condo 🤷🏻♀️
This is capitalism, you're either from a rich family or you will be a slave to a rich family. If you were silly enough to be born in a place where you can't exploit natural resources for personal income, what are you even doing bro? Just lie down and cease to exist you failed
Let's not forget ..Blackstone.....
I really don't think 20,000 houses is in 10 years for all of Florida is going to make a difference for the people today or in 10 years. Especially when the case study of this broadcast was just for palm beach county. Across Florida the politicians are selling out their current constituents for wealthier people. We need to go to our local commissioners and representatives and work with the for better solutions before it's too late, if its not already.
If we are talking about rentals specifically (and not homes for sale) it is too late, unfortunately. Rent doesn't go down. It can only go up or stagnate, according to economists. Home prices fluctuate with the market and can go up or down, but rent does not go down. That is why major hedge funds have recently been buying up homes by the thousands and turning them into permanent rentals. Rentals are where the real money is and they know it. Rent prices are skyrocketing across the whole state and we have one area of the state, the Tampa Bay area, which is seeing the highest percentage increases in rent in the whole nation. This is a most unfortunate situation for Floridians like myself.
ya'll never heard of sinkholes, or just don't understand the physics of how they work? there is a reason most of FL is zoned for low density housing. put a building in the wrong place and watch it be eaten by the ground. there are other geography issues that make it so that no, its NOT a good idea to develop. but how's this?? .... it's not just U.S. corporations.. WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
Florida is a sunny place for the Shady Rich, Poor Trash, and the illegal Riff Raffs....Now, if some people insist in calling it Paradise....OK...!!!
All of the out of state folks from up north and out west are buying up all the properties. Natives are simply being priced out, because our income is much lower than the wealthy escapees....
For years they told you taxing is the reason why California's rent is so expensive. What are they gonna say now that a taxless state's housing prices are getting gouged?
The real solution is to tax investors who are buying homes in bulk and contributing to the problem harder. More incentive for first time home buyers.
High taxation is one cause of high prices and rents, but it's not the only cause. The main cause is the creation of fiat money and credit via the Federal Reserve banking system.
It's immigration. The lack of habitable space makes California worse but Arizona now has high housing costs in the Phoenix area. Arizona may just be taking in a lot of people from California.
@@stephenpavlov8942 bingo!! Immigration is ONE MAJOR part of it!!! Hardly anyone here speaks English. It's mostly creole and Spanish.
@@MillionthUsername now your making too much sense that most can’t seem to comprehend. So…. We’ll continue to blame other things. Thanks though.
It's peculiar that they fail to mention how property taxes have risen so much on rentals. It's approximately a 25% increase each year if you own a rental property. The politicians like to keep this secret because they love this form of revenue to finance their budgets. This, more than increased insurance costs is contributing greatly to the rise in rents.
Thats a great point. I read the state of Florida took in over $140 million extra in property taxes last year.
Also the insurance rates are up like crazy
Great comment Robert.
Nobody asked you to own more than one house.
@@MAOjax I don't own more than one house. I bought the house to live in for when I retire, but I doubt I'll be able to afford it due to property taxes.
Stop allowing corporations and the super wealthy to hoard all of the real estate? This isn't just happening in Florida, it's all over the U.S. Housing prices went from outrageous to nearly impossible, even with a decent paying job. This just isn't sustainable.
The problem with Florida is that everyone lives in S. Florida and the governor is waaay up north in Tallahassee.
Tallahassee: Median home price is $182,200 and median monthly rent is $931. The complainers could live there but noooooooo!
@@sprague49 And there’s a reason it’s like that too.
@@sprague49 the point is that these are families that have lived here in SF for years and are being forced out of their own neighborhood to accommodate the new people. If anything, the people coming in should look at the homes in Tallahassee and surrounding areas.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
If corporations couldn't by thousands of homes to rent out we wouldn't have this problem.
Bingo!!! However, everyone, especially republicans, scream capitalism. Market forces, all that jazz, right? Well, this is what capitalism gets you. Let the strongest survive.
@@dontbanmebrodontbanme5403 It's not capitalism per se. It's mostly that because of zoning regulations, only large companies can afford to build multi family housing, leading to a monopoly.
@@beback_
While zoning regulations do make it difficult to construct more homes in an area, that's not the problem. For example, San Francisco has already been analyzed and even if zoning issues weren't a factor, there wouldn't be nearly enough homes to drop the prices down to something more reasonable.
The biggest issue is exactly what Rickee said: shell companies, with billions and billions of dollars at their disposal, are coming in and buying up all of the inventory. This forces prices on the remaining inventory to go up, forcing some people out of the market entirely. Those people are then forced to rent, which is exactly what these owners wanted in the first place. Once they know these people have no option but to rent, when then they can jack up the price, can't they?
@@dontbanmebrodontbanme5403 That's fair. Monopolies are a problem. That too can improve by relaxing zoning, making small developers more competitive.
@@beback_
To me, there's only two solutions:
1. buy a home - easier said than done in this market. Obviously it helps to have already owned a home way before this house price spike happened
2. move to another country with cheaper prices - Mexico, Costa Rica, Panama, something like that. The problem is this only delays the inevitable and when prices go up in these countries as well, you really want to be owning something at that point.
One bedroom apartment is 1100$ a month in Wildwood, Florida. Current population 8000
Wow and that’s a small town.. people don’t have it🙏
One headroom apartment in miami 2k a month
@@furenaef suburbs around miami are 2500 a month, actual miami at least 3500
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 Thanks for telling it like it is Nick, but the governor and the lawmakers already know that. The wealthy in Florida wants to keep slave wages, and housing for the middle/lower class people like the slaves in third world countries.... think about it. Walmart is the company store. No insurance for the houses, vehicles, poor health insurance and care.
Don-the-Con is there, hurricanes, and the hot/humid weather.
The irony is most of the homes in Palm Beach County are vacant more than half the year. I'd like to know that statistic.
I recall in the year 2000 prices jumped really high as well. Than came the famous crash. I purchased my 3/2 for 95K in 2008. Everyone seeking a home, wait patiently. Prices will go down. The fed is raising interest rates.
There’s nothing going on that is going to see a crash. Short nationally 500k new units a year since 2010. Most responsible lending practices over the past 10 years, largest population of 30ish looking for housing since 1980’s. A .25% increase in rates isn’t going to hinder this market. In a couple years it will take a breath but you won’t see a repeat of the crash of 2008. The fact that many are snowbirds and the houses are empty when they’re gone has no bearing on the rental market. Waiting isn’t a great game plan.
It's true about the large amount of vacant properties! I live a little further north near Melbourne Beach and I see it everywhere up here too. Very strange and bizarre especially in times like these where lack of "inventory" is a big factor in rising home prices
@@Dbb27 your missing the whole point my guy. Inflation is what’s going to grind everyrging to a stop.
So, wool is being pulled over our eyes🤔… interesting. Hope there is a crash to come… 😐
@@Dbb27 Thats an NAR stat that takes population growth from the 70s. Working age americans are DECLINING for the first time .....ever. You can imagine how that ends.
It's happening in EVERY state
And every country
Not West Virginia probably
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
Not in the Midwest / rust belt. Prices are going up, but there is such an abundance of homes that housing is still relatively affordable.
The State Congress and Governor give zero F's about this. Correction: They give zero F's about your problem they care about developers and banks not average Floridians.
Exactly!!!! DeSantis pocketed the 800 million he took from the Fed in December 2020 that was earmarked for rental assistance. So far he has earned over 9 million in interest off that money.
@@littleredhen3354 Unfortunately we have a large geriatric population that loves the guy. I have no doubt he will win re-election. I swear they are called boomers because they are political terrorists.
Also remember that developers and banks contribute to politicians' reelection campaigns, not average Floridians.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
@@nickfrost9771 I 100% agree and have been saying the exact thing for months now not because the government said so but because that's what I'm seeing on the ground with my own eyes. The demographic change is that pronounced. Florida deserves to turn into an overpriced ghetto with no services and shuttered businesses surrounding the million dollar trailers.
I was a renter, had school loan debt, and don't have a degree. I got a decent job, worked more hours then my coworkers, went out less then my friends did, and bought less then my neighbors. I sold my car and took the bus. Now I am debt free (other then my mortgage) and own a profitable duplex. People just want to float by in life and when a wave hits they want to cry and have the government safe them. I'm 31 years old, born with nothing but a low IQ, but I'm a hard worker and willing to sacrifice.
I'm a renter to here in South Florida and it can be daunting thinking about the prospect of owning a home here, especially when you're still in debt. So thank you for sharing your story it's very inspiring.
John A...
I too have been a homenowner and landlord before the age of 31...
Take this from experience...
This issue is deeper than laziness or someone wanting a handout from the government...
This is about a shift in income and values...
While you were riding the bus and saving your coins, there were millions making coins on social media and new tech...
You only have a blueprint to what you know!
@@taryn.b you got it! Just believe in yourself, I believe in you!
@@richardsou You missed his point. While he was making sacrifices, being intentional, and practicing delayed gratification many people are taking the hope and pray approach to life. They are then shocked when life slaps them in the face. The reality is most people aren’t doing the things they need to do to prepare.
@@xtrey19x Do you have statistical data that aligns with your statement?
Welcome to the new PBC! Low paying jobs and high prices in rent
Time to MOVE!!
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
@@theowl3756 well said!
Homeless camps is the solution because that’s where a lot of Floridians are heading.
Like it was in 1920-30s
Florida is a sunny place for the Shady Rich, Poor Trash, and the illegal Riff Raffs....Now, if some people insist in calling it Paradise....OK...!!!
At least you guys in WPB area are talking about it. The politicians in South Florida are not doing anything about it. It really sucks here in Miami and Fort Lauderdale area, even as a nurse, I'm struggling and I refuse to pay $2300 for rent. I regret the day I sold my home in 2010, when the market was sluggish.
What are they supposed to do, build a wall? The root problem (aside from investors) is all the residents moving in from out of state, who sold their homes and are flush with cash.
I agree with you Ms. Young. I sold my house in 2021 and I regret it every minute. Paying between $2,100 to $3,100 for a two bedroom apartment is absolutely unthinkable. The government has never helped the people and only the financial institutions.
I sold just 3 years ago to move. Now I rent a room for the same as my house payment. Sickening
@@RealLifeFinance omg why did u do that u could have stayed in the house and pay the same
@@magicalindigoadult3838 I was moving. Obviously had i not moved id be better off
The non-profit organization Strong Towns gave recommendations back in 2016. End R1 single family zoning, provide missing middle housing, provide public transportation and non car centric systems
As stated above, the NIMBY (Not In My Backyard) group will get it voted down.
@@azmike3572 then they deserve the shithole they created.
The solution years ago in Los Angeles was rent control. The result was the landlords didn't do any repairs to their properties, buildings deteriorated and the homeless population continued to increase despite that measure.
The solution is to not let capitalism run amok. So many have been scared away from socialism. We don’t want to be like Venezuela. I agree, that’s not good. However, the other end of the spectrum isn’t good either. This is the other end, where billion dollar shell companies can come in and buy up all of the inventory, then jack up rents as much as they want.
We need to not allow shell companies to buy property. That would be a good first step to solving this. I have other ideas as well. Otherwise, billionaires will own us all.
@@dontbanmebrodontbanme5403 A free market would most likely work in this situation. Our problem currently is that the market isn't free.
@@beback_
Uh, no. You don't get it. A free market is exactly the problem!
Imagine there's five houses on a block and there are five people who are interested in moving onto this block. One of those people, however, has billions of dollars and, for each house, comes in with an all cash offer, 20% above the asking price. Unfortunately, those four people have to now check out another neighborhood.
Now imagine if that same scenario plays out on every block every place these 4 people go. That's pretty much exactly what's happening in the US. It's actually happening in many cities all around the world, actually. If Elon Musk, Bill Gates, Jeff Bezos and Warren Buffet decide to buy up millions of homes, do you actually think you could compete with them? No, you'd get squashed like a bug.
Like I said, we've been sold on the idea of socialism = bad and capitalism = good. WHAT IS HAPPENING RIGHT NOW IN THE HOUSING MARKET IS THE RESULT OF CAPITALISM!!! If you don't get anything else, please understand that last sentence!
@@beback_ Again, you're totally right here. Local governments are limiting the supply of housing-- that's why we have a housing shortage. The free market would be a LOT better than what we have now. (Although I think some public housing would fill in the gaps for poorer people).
DontBanMeBroDontBanMe! doesn't understand that the problem is with restrictive zoning. And I'm a leftist. Ending restrictive zoning will get corporations OUT of the housing market because their prices will stop skyrocketing.
The solution is allowing developers to build more multistory buildings.
So she didn’t have a problem when she priced someone out of their home at $2790 a month. KARMA
$3900 is affordable to someone so she will have to move. Now she wants the government to do something.
Exactly. I was thinking the same thing. People are very entitled these days.
Exactly! But I have to admit that's pretty much everyone. Everyone is the main character of their own story.
@@lokchan9399 well stated. So true.
Everybody wants small government till they have a problem then they want big government.
@@steven4315 facts👍🏿
One way to alleviate this problem is to allow smaller, alternative homes (tiny homes, container homes, barndominiums, etc.) in more areas. I have a ton of 3D concepts on my channel with free floorplans. I'm currently building an off-grid semi trailer in FL. We gotta start thinking outside of the box. This issue is only going to get worse due to inflation, material shortages and rising lumber costs.
Where in Fl are you that they allow tiny homes? That’s what I find the biggest problem. And I wouldn’t want to be in an rv park.
That will noot fly in Florida a Tourist Area they already took out all trailer parks
@@fashionlife5348 they did no such thing, we still have plenty of "trailer parks". A tourist area we are, so fine, How about people stop moving here and just visit?? the very ground upon which we stand here canNOT support the physical weight of the amount of people who want to flood the area. what's more, i hate it when people move here cause they had a nice vacation then complain its not like it is up north and we "don't have proper seasons" and confusing weather. Go HOME and leave MY home Alone! thanks for visiting, please pick up Your Trash!
Most of these homes are bought by zillow, vanguard, blackrock and other billion dollar companies, when then keep them off market, or as rentals to inflate prices. Look into it, it's out of control. They are talking your homes and forcing you to pay double if can afford it, but also creating the biggest bubble the world has ever seen. We need new laws to stop corporate investors to used priveate homes as commodity options, and that's what they are doing. There's not suddenly more people with money in America. These billion dollar corporations are intentionally limiting supply to increase prices.
Dezoning it's called and yes dezoning would completely obliterate the problem. The problem then is stuck up residents who lobby out the middle class that are looking for this solution.
I lived in FL for 20 years until my landlord hit me with an almost 40% rent increase for a 1/1. I was there for 6 years. I got a completely new remote position and moved 5 states away. Move y’all - just go. Go where you are welcomed and appreciated. We can always go to FL on vacation. Rent had increased everywhere in the US but a lot of states aren’t as bad and wages are generally better in other states. Florida will get the hint and maybe it will truly just be a state for tourists 🤷🏾♀️
Easier said than done. 41 of the 50 States have State income taxes that eat away at any money saved through cheaper housing costs.
@@KevinGonzalez-vz7rz Florida's property taxes and insurance has skyrocketed...I moved to Vegas from Florida and glad I did. Homes aren't cheap here by any means but low insurance and property taxes level it out. Oh and I don't have to worry about hurricanes and humidity all year.
@@mikegeee3319 Good move but hopefully Lake Mead doesn't dry up. That's your water and electricity gone if it does.
@@KevinGonzalez-vz7rz that's like saying hopefully Florida doesn't erode away or California doesn't fall in the ocean from earthquake 😂 I only have control over what I do, not mother nature.
@@mikegeee3319 by the time that happens here in Florida I'll be "long gone" as one would say LOL
It’s a high demand place to live and retire in. There’s still cheaper states but you gotta deal with the crappy weather and lack of the ocean.
Like Ohio or Nebraska
@@nicholasthompson7690 exactly even here in pa we got lots of affordable homes. You may not live directly in a city but we have them.
@@galupproperties3098 I went to college in PA. It's definitely affordable there.
@@nicholasthompson7690 heck yea my first rental mortgage was 52k. My yearly taxes are still less than 2k a year. My landlord insurance policy on that property is $692/year.
@@galupproperties3098 Wow. Property tax where I am is 20-40k yr in NY.
We don't want to be "the Wallstreet of the South"! Locals HATE what's happening to our area. My family is going to have to move out of the state bc of North Easterners moving here & contributing to gentrification! Gentrification is killing what we've always known our home to be in more ways than one.
But they bring the money
I'm sorry, but nobody is holding a gun to your head telling you have to live in Florida. I'm getting quite tired of hearing people complain that the middle class is being squeezed out of California, Florida, New York etc. I live in the mid-west and yes the winters can be quite brutal, but it's a small price to pay. In my town there are still plenty of homes for 200-300k which is well within most middle class budgets. Life is about priorities. If you prioritize living in beautiful natural environments with perfect weather - be prepared to pay. If you put priority on being able to sleep at night knowing you can pay your mortgage - there are still many other places. No sympathy from me. We can't ALL live in paradise. Some people are just really jaded and think "fly over country" is an impossible place to live.
If the high earners start moving into the mid-west, then the same thing will happen to their real estate too.
@@pteranodon6612 Yes it would, but why would they. Maria’s point was not everyone can afford to live on the beach so pay up or shut up.
Totally agree, like the old saying goes " If you gotta ask the price you probably can't afford it". Factor in things like skyrocketing food & gas,
insurance increases, taxes, and many other things then you really can't afford the South Florida lifestyle.
😄🇺🇸
@@xtrey19x Polk county Florida where I’m at is COUNTRY an it’s just as pricey Rn
It’s not just the “beaches”
Those of us complaining about the increase in rent and that there is no affordable housing here cannot just move. We live in Florida because this is where our families, friends and jobs are. Would you like to have your rent raised at renewal to $600-$1100 more a month? Could you afford it? Could you afford to move? What about if someone has to leave an aging parent, take a child out of school, find a new job, buy clothes for weather you have never been in? Would you then think it so easy to just move to another part of the country?
Move North to the Space Coast. This area was overbuilt during the Apollo days and never recovered. I moved from a mobile home in Hollywood Florida to a two story three bedroom house on a canal in Merritt Island.
When the service people all leave the community because they can't afford to live there.... and the wealthy have to do their own support work...... Then it will matter.
Feudalism collapses without peasant labor.
This has never been true sorry to break the bad news.
The moral of this is plan for your financial independence long in advance. Buy your own home should be the first major investment in your life in this country. When you rent you have no control of the future payments. There are decade old successful businesses being forced to close because of jump in their rent. This is a hard reality and you cannot look to the government for help, as even if there is, it most likely will come too late.
not just U.S. corporations.. WHY do we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
@Plane Sight Idiots like you blaming non citizens when most countries allow foreigners to buy land. It's not a citizenship issue, it's a residency issue. A person of German nationality who is a permanent resident of Tampa isn't an issue. A Snow bird from New Jersey who buys property that they only live in 2 months of the year is.
@@planesight1142 what? why shouldnt legal, permanent residents be able to own land? that is absolutely ridiculous...if you are a resident you should be able to own land, just like you can own a car, a business, etc. at least 15% of this country are legal permanent residents but not citizens. so my moms been here since she was 19 and now shes 55, she cant own a house? f outa here with that attitude
@@bcoconuts as a Pinellas native I have watched my beautiful, tropical, GREEN county be DESTROYED by houses and condos. This Florida land can only hold little weight. try Georgia.
I was born and raised in Palm Beach County. Left at 18 to go to college in Tallahassee and haven't been back as a resident since. Been in Tallahassee since 2008 and finally left in 2019 for Houston, TX. I live on the 6th floor of a mid rise and my rent is less that $1300 with real granite island and stainless steel appliances. It's unfortunate that I don't see myself ever returning "home" as I can purchase a 3/2 brand new home for under $300K here. Don't understand it.
I'm sure that'll all change soon. It seems to be happening all over. It's plain & simple price gouging. I am a landlord & I haven't found anything legitimate reason to raise rent.
@@doubtingthomas8305 You are correct. My rent was to go up to $1400, which isn't too bad but they sent me a renewal for the same price I currently pay so they have to honor that one. The issue is big tech. Tampa and South Florida, Houston and Austin. With remote work and Silicon Valley relocations, Californians are coming in droves to Texas because they're paying 2/3 less for more space and brand new units here. It won't stop.
I was recently in Tampa because that's where the company I work for is, the trash I would get there for around $1800 compared to what I have here for $600 less doesn't compare. Even as the prices rise here, it would be nowhere near South Florida prices. It's unfortunate, because I will always be a Florida boy, but my future kids will most likely be Texas babies.
In Houston? Where do you live? I left Houston in 2017 to Round Rock because Houston rent, cost of homes were increasing and crime was and still is through the roof.
Unfortunately, crime will be everywhere... The bigger the city, the worse it can be. I live in the Katy area. Even if the price increase,which it will, it won't be near as expensive as South Florida and Central Florida.
@@Jonas-nf2bc yes crime is everywhere but Houston has become one the most dangerous cities in the USA. Katy is nice for the most part depending on the location but too close to Houston for me. Katy has been in the news for crime lately that Katy typically wouldn't. Katy is in the news now for a school brawl that led to a 17-year-old death. Most people who live in cities surrounding Houston usually have to commute in or through Houston. It's just not for me anymore.
Snow Birds are a Invasive Species
Well I guess north Florida it is.. my rent went from 2500$ a month to 3800$ a month.
That price was for apartment or single house?
She's paying $2700/no for rent. Why not buy a house
It is obvious why. There is no "why doesn't she just...?" Why don't YOU?
@@juliapurdy4653 I am humbled. Thank you, M'Lady
probably no down payment or bad credit.
Or she doesn’t want the extra burdens /costs that come with home ownership.
Thanks Brandon!
LGB
Get ready for south FL to be the next LA.
*If someone came in and made tiny/affordable housing subdivisions, would they be popular???*
Unfortunately, the costly government permitting and bank fees are just as high for a million dollar home as a 20K tiny home. That is why it isn't even possible.
Life isn’t fair folks and it’s not designed for it to be. The sooner people learn this, the better.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
How about stop building only single family homes and build more sustainable multi-family units with walk-able infrastructure and public transportation which will also reduce traffic.
We have so many golf course here, plenty of land but the stinking regulations set by the counties are the problem. I know because it took me 15 years to solve and EPA non issue which was absurd!
Why? So you can continue to complain about rent? Don't want people to own anything? How about no. It's better to own then to rent and single family neighborhoods are safer than multifamily neighborhoods. Get your blackrock great reset B.S. out of here.
@@Law19157 What are you talking about? Where did I mention renting? You can own a part of or a whole multifamily unit. Same goes for condos and similar types of real estate. I agree Blackrock is awful and think they are doing a disservice to the US economy but they're buying up all kinds of properties including single family homes.
@@TatamiDisco Most people would rather own a single family house than a condo and given the pandemic, why would want to want increase population density putting people closer together? There are affordable properties outside of palm beach.
@@TatamiDisco while black rock is buying a lot of homes, most home buyers are owner occupied not speculative. Prices have increased because that’s what the market can support. We are not all broke.
All my life here, if I didn’t have a partner I would never be able to afford all my bills and own my own home. How sad is that?!
That's pretty bad. Basically a relationship mortgage. You're not alone, most dual income housheholds making below 150 combines are effectively in the same arrangement. Paper marriages.
Nothing will change, it's all about the bottom line.
Some may think I’m crazy but a recession is on the way
Rent controls backfire and stop new construction. Excess vacancies from building too many apartments will drop prices.
Smartest thing I did was to buy a humble home on an eight acre lot in middle of nowhere outside Saint Augustine, FL. Now I am surrounded in my paid off home by new homes and property that I could never have afforded. People, buy and payoff a home that you can afford while you are young. Don't think your old and worn out bodies will be able to pay ever escalating rent.
I love st Augustine!
This comment is underrated 🔥🔥🔥💯💯💯
😞These stories are so sad. This problem needs to be addressed quickly. Everyone needs a safe place to call home. We all need to work together to solve this. It is not fair to raise rents that high and for corporations to buy family homes pricing other people out of the market. Corporations should be buying commercial real estate in cities not family homes in neighborhoods. The mission should be to address these problems and find solutions now.
I completely agree that unaffordable housing is unacceptable. People need a place to live.
Investment firms are buying up housing units. This is true. It's not hard to see why they do this. Home prices have been skyrocketing recently and this is really bad for renters and homebuyers. Investors like these returns so they buy homes.
Why are home prices skyrocketing? It's because there's an artificial shortage of housing. Local governments set the zoning codes that often ban anything except a large single family house. This super low density means it's impossible to build enough homes for the number of people. And since the supply of homes is low, the price rises. If we want to make housing affordable and get corporations out of home buying, we need to repeal these stupid zoning laws that ban more housing.
I met this lady she’s super nice. I moved out of Sealofts Village Boynton Beach. I was paying $1925 for a 2/2 now it rents for $3100 just insane.
Ouch
Boynton Beach and Boca Raton has always been expensive.
There are other places in Florida that are cheaper and still nice.
Depends what you consider cheap
All them excuses for raising prices… at the end of the day it’s Greed & Evil, lust of money. A normal good human, can make money while helping their brother. Wanting all the money while the masses suffer is furthest thing from a functional society, but a goofy will mask it as “capitalism.” Let everybody eat
Take a good look... it IS capitalism in its most naked form
@@juliapurdy4653 Nah, it’s evil in its most basic form
@@juliapurdy4653 Capitalism is property rights and free markets. We have neither.
The Florida government will not help. They’ve been doing this for decades and now they’ve hit the jackpot with the high cost living.
Helping those who can't afford things is considered to be "Democrat" behavior. If she can't afford, then she should leave, right?
I don’t have a problem with people buying a home as a primary residence, but I do have a problem with investors flooding into areas, crowding prospective homebuyers out of the market because someone with a mortgage can’t compete with a deep-pocketed investor, and turning communities of homeowners into neighborhoods of renters. Increasing rents make homeownership further and further out of reach for prospective buyers, and the monthly payment is higher for renting a single family home than it is to buy, so people are being forced into a bad financial situation by being squeezed out of the housing market. Lawmakers should do something like giving homebuyers preference or rights of first refusal if they are going to live in the property, or increasing taxes on investment properties vs. people who are buying to live in the home, or capping the number of homes that investors can buy unless it’s in a development specifically built as a rental development.
Every Republican screams capitalism. Well, this is what capitalism run amok looks like. When the billionaires come in and buy up all of the inventory, you can’t complain because that’s capitalism. Let the strongest win!
Maybe, just maybe, a little socialism with capitalism is the best solution?
@@dontbanmebrodontbanme5403 Republicans support capitalism, but what is going on here is corporatism. There is a big difference. One encourages fair market competition and regular people earning side money and small businesses for a better economy..... the other is corporations gaining unfair market advantages through government to squash small businesses and people out and is often confused for capitalism. There is a point where it crosses a line.
Also going socialism won't help. Look at germany.... they are socialist and they have far worse housing issue than we do. Most homes are owned by a single company and its gotten so bad that people are trying to force that company to sell a good majority of the homes so that regular people can own a home.... the don't want to cross that line and become authoritarian and set a precedent for property seizure.... but now they are backed into that nasty corner.
I do think we need to rethink things and offer up incentives for sellers to pick owner occupied offers over investors so that we can fix a bit of this mess with as little government interference as possible.
Though really what might do the best to fixing this mess is putting some limits/taking away tax benefits on properties as investments over a certain amount for certain situations outside of multi family rentals/apartment buildings (since really its a single family home issue) would help a bunch to lessen the incentive to choose to buy real estate over other investment opportunities. That way it won't hurt homeowners with 1 or 2 properties legitimately and only effects those who invest. I would especially be OK with penalizing larger corporations that have multiple single family homes and have them pay into say a homebuyer incentive program so that way its paid by the corporations rather than taxpayers and helps those who have been displaced potentially by those same said corporations. Think of it as the housing equivalent of carbon offsetting in the energy and shipping world. if you impact something more you better make up for it more.
This is insane!! No one has a "right" to live in a specific location!! You have a choice-if you want to live where it's beautiful, you pay the price...it's like complaining that Lamborghini's aren't affordable....
Your so smart until you speak
Seems like some of us are so stupid that we are out of touch that none of these people are trying to afford penthouses on the water. Most of St. Pete isn't even directly on the water.
@Blaze6432 I never said stupid but......asking government to intervene to prevent someone from getting as much value out of their property as they can, just because you WANT to be there but can't afford it, is ENTITLEMENT, not equal rights...
@Richard Paige So basically you just move them to a whole alien place, and then when that becomes unaffordable, you move them again? So that's you idea of sustainability? Or better yet have them move 3 hours away and then have them commute to work because nome of the people who are buying up these properties want to do the blue collared jobs themselves? Housing is not a commodity, it's a right, just like food water and shelter. Having affordable access to basic needs is what the government is suppose to be. This is not an opinion, it's a fact.
@raw 4457 spoken like a true dem... make a derogatory comment and not offer any useful argument for your point of view in return..
The primary issue here has been covid
1) Covid restrictions in states like NY, California and the North East as well as even Canada now is leading to people leaving those places for Republican warm places. Florida is primary and Texas is the other
2) People in tech who are allowed to work remote because of covid can now go to more “affordable” places. Florida has no state income and warm weather and it’s “cheaper” than San Francisco, New York, Boston etc
3) REGULAR employees, non tech, are now also allowed to work remote and so they have also chosen warm places and FL is a big destination
4) Supply chain issues from covid related matters has led to delays in materials and spikes in prices which means new construction homes are way more expensive
5) Government printing a ton of money and allowing people to live off the unemployment and mortgage protection programs which allowed people to not pay rent or mortgage. People quit important jobs. Like construction jobs because they were better off with unemployment
Only things that can help turn this around are the Feds raising rates drastically to bring the housing prices down and inflation as well as COVID as a dangerous threat turning into a common cold
If covid ends this summer it will help alíviate a lot of things because people will go back to work. Companies that were allowing people to work remote will want them back and that will lead to some people having to move back where they left. Prices of home building materials should come down. Price of shipping should come down etc
We just all gotta hope COVID becomes a common cold that worries almost no one for a lot of these things to kind of reverse. Land is still a problem in FL but this is not a new issue. The amount of people moving there cause of covid is what made it a bigger problem
Let’s all hope omicron is the last hurrah for a serious variant
Exactamente!!!
@@altheacbarnes2522 gracias ✊🏾
People still have to pay the mortgage! It has to paid later. Only renters got a free ride. And still complain while landlords lose everything.
@@dcg590
That was not a thing before. If you couldn’t pay you don’t get the option to pay later. You got foreclosed.
Millions of people who would have been foreclosed on kept their houses. This starvation of a NORMAL process which the housing market relies on to stay balanced, coupled with supply chain issues and houses selling at record pace is what has led to this super low inventory
I am not advocating for people to lose their homes either I n just telling you that not foreclosing on people kept others from being able to buy houses and led to this issue we have
@@UrbanBDKNY yes true that was new thing when Covid hit. Normally you’d be foreclosed on but you don’t get out of paying like renters do. Yes it did lead to the issues we have now. It was all planned.
SAME THING HAPPENING HERE IN NORTH CAROLINA AS WELL. WE NEED SOME LAWS TO HELP OUT THE WORKING CLASS. 🇺🇲👍
Republicans don’t believe in helping the working class because the working class keep voting for republicans. Republicans are doing nothing but helping the rich pay less taxes.
At some point you have to realize that government is not the solution to your problems. Prices have increased because that’s what the market can support. If the demand wasn’t there than prices would go down. Most home buyers are not corporations and speculators. Perhaps you’ve been sold on the idea of having it all without having the income. Those that have decided to have more than just being “middle class”or make “living wage” are doing just fine.
Don't forget, it's not just U.S. corporations.. i do not understand WHY we allow non U.S. Citizens to own land here? In other countries, you MUST be a citizen to own land. Hasn't anyone realized that we are allowing ourselves to be taken over from outside forces as well American companies own big companies that buy up plots of land?
Part of the problem is that on average 800 people move to Florida a day.
3900 rent crazy
$3600 down the street in Viera
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
Absolutely right 👍💯. Who will do all the jobs that keep Florida afloat (no pun intended). 🙄🙄
Just move to North Carolina there's an abundance of affordable housing there and you could live comfortably working at Walmart or Dollar Tree
Getting to where that isn’t true anymore.
Really?
100% false. I live in NC and we're being priced out. Rent is ridiculous.
@@JustAnAverageWoman69 where? Raleigh? Charlotte?
@@nicholasthompson7690 Charlotte cost of living is very high. We are currently in Concord. I think Raleigh is a little more reasonable right now, but still on the rise.
Saw the writing on the wall 2 years ago and moved to tennessee. Taxes,homeowners ins
Cheap
Utilities half of what they were in Florida
Meanwhile in rust belt cities - rent is 400-800 for a 1 bedroom or studio. Florida has nice weather, low taxes, and tourist attractions. Rents need to go up more to force people into all the vacant houses in undesirable areas like (Cleveland, Buffalo, Detroit, Milwaukee, Dayton, Toledo, ect). These cities have bad weather and no tourist stuff and plenty of jobs. Sunshine aint free.
I live in Buffalo and rents are up to $1600-$2000 here too.
It’s become beautifully developed downtown and around the inner city, I’ll say that. And used to live in Palm Beach too. Came up to raise children here over South Florida.
Not sure where your information came from but rents in Milwaukee are upwards of 2000 for a one bedroom
@@apove1814 For a 1 Bedroom in Buffalo or a small house? I'm looking at zillow (rents) at Buffalo and Niagara Falls and see good deals on rent (1 bedroom)... Suburbs look expensive though... Buffalo has tons of listings on zillow between 850 and 1600. Niagara Falls looks cheaper though (600-900)...
@@donaldmeier1911 Check out zillow rentals - really depends on the area in Milwaukee... I'm seeing tons of 1 bed, 1 bath rentals 600-950... I'm also seeing a good amount of rentals in 1600-2300 closer to Lake Michigan/Downtown/East of Milwaukee River... I'm also seeing affordable housing in Milwaukee but not in suburbs. Housing is very unaffordable outside of city.
the way things are trending across America, california aint the exception, they are just ahead of the curve..every state will catch up eventually it seems sad to say
I’m glad I put 80% down on my $1.2m beach house. I’m 39 and will pay it off next year
Ocala, leesburg area are almost 50% as well. 2017 I could rent an ENTIRE decent home for $800. Know I'm paying 1200 for a 500 sqft apt that is really not that great but I can't afford to live anywhere else. I'm afraid of what my Ren will be once my lease is up in Oct. 2022. To rent an entire decent home is about $2000 now. It's getting ridiculous you can't buy anything as know we're priced out of the market avg homenprices here are 200k plus. We barely get buy paying a 300k mortgage payment for rent, there is a serious problem and I'm looking to have to move back up to northern WI were housing prices are much cheaper. I like fl I don't want to leave but the price to live here is getting into the realm of impossible.
Damn, 52% increase? I know that a lot of the house owners that rent out increased their rent while they wait to get reimbursed, but damn, that’s very unfair.
If the owners cost of living went up 52% then you can't expect that person to just eat the cost of Brandon's inflation. This is what we have been trying to tell you about Democrat spending and lockdowns. Registered Democrats should forfeit everything they own so we can redistribute it to these people in need.
It is more than that, it is criminal.
It goes beyond party. Republicans have no exemption.
@@juliapurdy4653 #1 The Federal Reserve Bank. #2 The Democrat Party. The reason housing has doubled over the last 2 years is directly related to lockdowns, mandates, defund the police, etc. in DEMOCRAT states!
All you stupid fvcks who voted for Brandon deserve this. All you liberal idiots are getting what you deserve.
Very good reporting! I really learned a lot from the series. Thanks!
$3,900 a month is a lot of money for rent ! I feel for her.
I pay $830 in maintenance for my co-op, I bought it in 1997, smartest thing I ever did.
Reminds me of a thing called "red lining".
If this lady is paying $2,790 per month for rent, why doesn’t she buy a home? If she did that, she wouldn’t have to worry about rental price increases.
Yeah, why not? One, maybe she does not have the downpayment. DP is something you plan for. She didn't plan on buying. Two, the prices are going up so fast, next month you would not be able to buy back the house you just sold. Three, investment combines are gobbling up every reasonably priced home - or making unheard-of offers - to "flip" homes, convert to AirBnb, etc. All puts pressure on supply, with price inflation resulting. It is intentional. These investors want to be another Elon Musk or Jeff Bezos. Government needs to step in and "just say No."
Would have to switch to the "one armed" massage!!
Lol there's no homes to buy that's why
There are not homes to buy here in south florida that are affordable and rent approval is very different from being approved for a mortgage.
@@pepperonipete7566 my parents mortgage in Boynton beach on the intercoastal is $1300 a month they bought in 2014 though lol my aunt recently bought a 4/3 in Boynton and her mortgage is $1800 a month. The real problem is the flippers and foreign investors that snatch up homes the second they go up for sale buy them and put them back on the market the next month at a higher price my aunt was looking for a year and a half before she found her place.
The people who own the properties are artificially inflating the price. At this rate we are heading for another house collapse.
No, they are not - obviously you are not a home owner. Have your ever heard of property taxes? Housing will not collapse only increase to price out every day workers. Stop watching CNN!
@@frozentundra7446 the population of the USA is not increasing , this is an artificially created problem to jack up prices. Once the middle class cannot truly afford a home prices will collapse .Just like 2008 you will have people filing bankruptcy on these 1 million dollar properties that fall down to 300k .
TY Biden and his Admin!
I can't wait for people to start protesting this bullsh*t I will be with them
So a new landlord buys a property at triple the previous value and escalated property taxes, but he should be forced to charge the same amount of monthly rental as before? Wow.
In California, the single family, or median home price is over $800k and nobody calls it a crisis, they say it’s actually a stable market.
It's over a million in Hawaii now. We sold in Sept. and paid cash for a bigger home in Texas with the equity.
Because it is. Without demand price would fall. Everybody isn’t broke, living paycheck to paycheck.
800k is a bargain in California. My home under construction here in Palm Beach County for which I paid 360k goes for 3.6 million in the San Francisco Bay Area.
Insuring a house in a wetland at sea level that gets blasted by an increasing number of hurricanes and rising sea levels might have something to do with it. Right?
Sure does.
Messed up part is no matter how they choose to fix it, it will next go backwards.
If those increases are not price gouging, what does constitute gouging? There is SO much corruption in So. Florida I'm amazed anything gets done. Good luck.
It’s called a free market. Very, very high demand.
@@davido3746 aka greed.
I live in SW Florida. Been here forever. I have many friends in the real estate business. Spoke with a few of them today as well with the chamber of commerce and it is a very troubling future for Florida.
The majority of the people moving to Florida are either retired or wealthy people. This is causing the housing market to sky rocket. But that is not really the direct issue. With the housing. Also follows the rentals.
Example: 3 years ago, a four bedroom, two bath 2 car garage house would rent for 1,400 a month. Now they are 2,400 per month. My friends are telling me next year's rental apartments and condos will be a minimum 3,000 per month and rental houses 4,200+. Florida does have a large amount of retired and wealthy people. However the issue is with the general public. Most who rent are either just starting off in life or are in recovery from worse times. These kind of people do not have 4,000-3,000 or even 2,000 a month to throw away on a rental. The state told me today according to their numbers, the amount of new Florida residents compared to the amount of those leaving is nearly the same. The crisis is Florida will soon not have a work force.
Gas station clerks, grocery store employees, walmart, ANY and EVERY service out there will be non existent. People are finding out moving to the north where wages are nearly double and the cost of living is cheap are fleeing these inflation and over priced times. Retired and rich people will not work in general industries and this will cause a major crisis in the very near future.
Everyone of you need to tell everyone you know to call the governor's office and stress this very real fact to them. Without a work force, the state will dwindle away...
They are going to kill this state and it will completwly backfire on the economy down here...
Florida is booming. Turns out freedom is popular 🇺🇸🦅
FL may be booming, However the Florida natives aren't
Capitalism is only "great" for capitalists
@@juliapurdy4653 The monetary system we are under is a GOVERNMENT SPONSORED MONOPOLY. It is not capitalism by any stretch of the imagination.
Florida is neo-feudalism.
Guess freedom is really popular in NY and CA then lol
How about getting rid of zoning?
What's the housing solutions for all over
I always wanted to move to Florida :/
It’s not that great
Sadly, due to the ignorance of the current political divide, any attempt to fix the housing situation will be considered as “socialism.”
I've literally heard people compare city busses with the Gulag.
All of you guys always want SMALL government and now all of sudden you want BIG government and socialism?? I think you guys are greedy as much as all these investors flippers and corporations. They are greedy like you guys but smarter that's all smh
@@hyunpark8752
You guys? Who does that refer to? What are you talking about? You sound like a stupid bot, trying to provoke an argument. I don’t play both side, don’t contradict myself when representing what I stand by and for. Don’t insult a truthful person without good reason and knowledge, it demeaning and disrespectful to yourself.
Many people refuse to accept the reality of their predicament: America is based on the Golden Rule: Whoever has the Gold, makes the Rules....!!!....And if anyone suggests anything resembling social and economic equality, the person is called Socialist or Communist...!!!...Obviously, the people with money want as many houses as possible and don't care about the rest. And if anyone complains, the person is called Socialist or Communist....So, complaining about high prices is an exercise in futility, because the people with money and power don't care about your problems.
Crazy. So glad I was able to buy
Arizona same problems. Used to be affordable, then the rich people move in
Well when you are only allow to build single family homes and low-density housing, what were you expecting? To make things worse, ppl are being pushed further and further away from the cities and services in order to afford housing, which ofc just means they spend more on fuel and gas, which means the ones closer become even more valuable.
The whole country needs a massive upzone.
no investors are buying homes left and right and putting them on the market the next month at higher prices we have availability developers and realtors say other wise but investors keep on buying though so what are they buying lol
And people always think that the lack of affordable housing is only a problem California, and NY. We need to build more affordable housing otherwise we are going to have more homelessness in almost every state.
That's exactly what these rich( mostly white) people wants
This a nation wide problem not just Florida
Don't forget people had a free year they don't paid the rent.......now is paid back time
Guess what people of Florida, you will suffer the consequences because allot of low income earners are needed throughout the job market can’t survive. Where they will have to forcefully quit there jobs an move anywhere else where they can survive.
I think it's so funny when people ask government to help lol
So does government. Every other politician is a millionaIre, won't go against their CLASS INTEREST.
@@juliapurdy4653 100%
I’m in San Diego and we have the same problem..
Have they considered upzoning?
Interest rates were in the teens in the early 80s. When the Fed finally raises rates, this will slow the big investment companies down and hopefully correct the market in time.
Problem is that should of happened over a decade ago and did not. Now there is a plethora of people who know they have been robbed out of home ownership that will elect to be violent about it given the right circumstances. Unfortunately these are the right circumstances with inflation causing mass price hikes on everything all at once. Chronic homelessness shaves about 10 years off the average human life, so it already is a life or death scenario.
They can never go to the teens again. I don't know if you how debt works but we didn't have 30T in debt to pay interest on. If the interest went that high again the entire US economy would collapse.
@JB Absolutely, but they do need to be raised. Back then, if you had 1 million, you would be set for life and a very comfortable life.
@@elroythegreat1590 Yes I agree. Yeah those days seem to be gone.
@@jmcnally647 There is a plethora of people who will respond to that violence with violence. Feeling "robbed of homeownership" is a feeling based on entitlement. Did someone also rob you of your Tesla, your yacht, and your jet too? Or have you failed to take responsibility of what you can control in your own life? Hint: Stop playing the victim and find (intelligent non-violent legal) ways to solve your problems, which is almost always making more money and nowadays there's a thousand ways.
Start by helping homeless people in a tiny homes
Who's paying for the upkeep and utilities?
The lady who pays $2,700 a month for rent!! That's more than twice what I pay, where winters are getting warmer...😊
My mom apartment go up $150.2 months later they raise the price another 250. Can she fight this in court?