CRAZY Expenses For Condo Owners Send Buyers RUNNING FOR THE HILLS
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- Опубликовано: 14 окт 2024
- The recent south Florida condo sales have been taking a major hit as of late. Closed sales for condos have decreased overall when compared to last year. In Palm Beach County, closed sales for condos decreased about 21.4%, according to the Miami Realtors Association.
Broward County’s condo sales decreased 28.7% year over year. In Miami-Dade County, closed sales for condos decreased 43.8% year over year.
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People Are NOT PAYING Their Bills...But It's Fine ruclips.net/video/S9x08c3-gMY/видео.html
The credit card lifestyle will soon be over. Many will simply have their limits cut. Things will be rough for many this year. Debt will continue to crush the people. Those living the Hollywood lifestyle on plastic are on borrowed time.
You should keep reminding people to hit the like button… i like your content but i usually listen to you while im working so if you don’t remind me I don’t think about it
doom! all doom :)
Great Video Michael - I am on Miami Beach and I see many multistory buildings undergoing renovations - HOWEVER - I never any restoration work being done on the actual foundation of the building - fixing terraces and repairing stucco has nothing to do with the actual structural integrity of a multistory building.
It’s ok
I lived in SW Florida for 25 yrs. We moved in 2006. Sold our home and made a 200,000 profit. My husband had a good job, but it was time to leave. We moved back to Ohio. Much cheaper here. We could never afford to live retired in Florida. I dont know how most people afford it. I enjoy watching your updates.
We left South Florida for Mexico 10 years ago. In Florida our property taxes were like 14,000/year. Throw in all the insurance costs, the water/waste water, electric ... it added u[p. We owned the house outright and doubled our investment in the 12 years or so we owned but still. I looked recently - the house across from us then is now listed. They want more than twice what we sold for. All this is great if you have a good paying job OR you are moving from someplace where you are making a ton on your home sale - but I don't see how the elderly/retired folk in FLorida are going to make out.
I’m wondering if those that are on fixed incomes are taking out home equity loans to afford to stay in their homes?
Yes!
You are one of the few that sold at the top of the last bubble. Plus you bought at least a decade before at a good price. Good for you!
@@kellykell9620 There was a time when we had a very good relationship with the girl at a bank (in Florida). She suggested since the bank was offering NO cost application that we take out a home equity loan (or maybe more correctly - a line of credit). It was free, and we never used it, but if such a thing exists in 2023 that might be something worth looking into...
One of the reasons I'm not buying right now, I don't have $31K for unexpected emergencies.
I live in orlando florida, no accidents in the 17 years and no claims, safe driver also and pay full upfront. My car insurance premium for 6 months kept on going up every time, my last estimate was $1580 I called them and asked them to recheck my credit report (clear and no past dues) and score (820), to my surprise they dropped my premiums to $1080.
Great that's a great idea IF u Trash ur ins got UP.Same if u have ur housed robbed I want no trouble to rent to anyone, CHEERs😁😁😁😁
Good information!!
I'm definitely gonna have to call this time. It's the largest increase I've ever had all at once.
My brother had 5 or 6 accidents in a year. They raised his premium to $9000 yearly.
nobody wants to touch a condo, especially in Florida (too risky)
Uhhhh
I think the best days of living in Florida are in the rear view mirror. It actually used to be pretty affordable. We lived there from 1990 -2012 . Moved to Black Mtn NC and never even went back to visit. This is my personal opinion, people from CA might see it totally different. Whoever moves there must commit to stay 15yrs . They need to figure out if they can afford it. We got burned buying a home in SW Florida in 2003 for a good price, but because of all the foreclosures in our area. Our homes value dropped almost 50 percent. I think you had better be a millionaire to ride out all what’s happening in Florida now.
@@melanielattanzi9388 trust me, you’re in the minority here. Miami alone is millions of people’s idea of peak living despite the negativity that many chirp
Florida is done. Ruined by outrageous prices, natural disasters and, above all, politics. Adios, amigos!
@@genarolegorreta3418 Sorry your situation didn’t pan out here. There’s at least a few million newbies here that disagree with you.
Property in Florida has now become a liability rather than an asset.
I would like to buy one of these liabilities, but prices are still at least double of what they were before the pandemic.
Most real-estate everywhere has become a liability. To me real-estate is a tool for monetary gain, nothing more. That includes the house I live in, every month it pays me money as well as builds equity.
This is true anywhere you have to pay preperty tax. In a financial slave system, which fiat currency is, they steal your equity through property taxes, then steal the value of what's left over through inflation. The goal is to push everyone out of thier homes and onto gov't susistence where housing and work will be assigned, and you will recieve your "pay" via a Central Bank Digital Currency (CBDC) that they control - they can cause your money to expire if they want you to spend, or turn the dollars themselves off if you speak out against them (trucker convoy in Canada). This has been openly stated by the WEF for decades as the goal who are, thenselves, puppets of the aristocratic old money families.
Rent. Hurricane coming? Go. Don’t come back until landlord cleans it up. No surprise assessments.
Owning a home has never been easy, no matter where it's located. Pretty much every state has issues with natural disasters, hurricanes, tornadoes, earthquakes, blizzards, flash floods, droughts, etc. I had both a house and a condo, condo fees are part of the territory.
In Florida in particular, no one wants to touch a condo because it's too dangerous at this time. My husband was going to buy one January this year but the prices were quite ridiculous, coupled with Mortgage prices that has been skyrocketing on a roll(currently over 7%). Sometimes I wonder if he should just invest the spare cash into the stock market and wait for a housing crash. OR just go ahead to buy a home or the condo anyways. Its just perplexing!
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
Just wait
The current “owners” are locked in where no one can hear their screams. 😱
The system is set up where we never truly own anything
Unfortunately, Texas is the same way. It used to be affordable, that was then.
I live in Maryland and the same thing happened to me with car insurance. I spoke with my insurance company and they said that nearly all insurance companies are operating at a loss right now and rates went up across the board across the state. So, having all of these people overpaying for cars which is driving up repair and replacement costs is affecting all of us.
Electric bicycles before the bloodsuckers attach? Themselves as Wheelchair leeches?
And lawsuits. Just settled, uninsured motorist - $100,000, only part of the settlement. Another $150,000 went through mediation. 😊
My nephew bought the second cheapest house in Florida about 6 Months ago on two acers for $55,000 cash. It's in the panhandle about 40 minutes away from Panama city. Total gut and rehab, will have under $120,000 total costs when completed (no loans). He's living in it right now. Will be a nice new home by end of summer. 😊
I have never seen so much of Florida up close and personal- its great content.
Thanks!!
It IS great!😮
I like you walking n talking in the beautiful streets of Miami. Keep that going.
Up scale tents will soon be a hot thing. I live in the Panhandle and I see a lot of poor people in this area. Its going to get bad pretty soon.
I saw a lot of homeless in Pensacola last time I was there as well
When i was in denver, I would tell the homeless people that a one-way bus ticket to Key West was 85$. I said, "Why freeze to death here when you can be living in paradise on the beach in the keys?" Well, I guess a lot listened to me. Haha..Sorry.
@@carolbagwell6769 Actually what I am seeing is a lot of people living in run down trailers and houses. They are in bad shape, so if anything goes wrong they will be hurting. My home insurance went from 3100 to 5000, so I cancelled it and got liability only. In the next year it will be bad.
I think those are yurts...
I always said the future homes for the average US citizen will be tents, It looks like it it happening sooner rather than later.
In January my increase on 2 cars went up $200 for 6 months. Also pay in full. I even called to see if I could raise the deductible to $1000 and it took around $10 off. Insane to me.
I was looking for a condo. Nothing but problems: deferred maintenance, reserves not funded, easement, land not owned by the association, obsolete design, no hurricane windows, absent sellers, etc.
I like the walking the neighborhood format!
We love you walking outdoors. Keep up the good work.
Condo is less expensive but HOA dues are now scaring me away
Auto insurance is very high in Florida due to UNINSURED cars/drivers everywhere. If they buy insurance, it is for 1 monthly installment, register the vehicle, then never pay again until 2 years later in order to update registration. Insurers need to notify the registry of cancellation for non payment, then the state should impound the vehicles. It is possible to end this problem!
In NC is a fine for gap in no insurance and you can not reregister a vehicle unless penalties are paid
So, your solution is communistic state tyranny... this is why we can't have nice things.
@@Archangel55 it's exactly the same in Florida. Not having auto insurance in Florida. Is an automatic license suspension. If you don't turn your tag and registration in to the State. And your 3rd time of getting caught driving with a suspended Dl. Is an automatic arrest. And loss of your dl.
In Australia when you renew your tag the price includes basic insurance to protect others if they are hit by you.
If you want or need full coverage, you buy it yourself.
But, every tag includes basic insurance to protect the public.
@@richardpuckett8127 initially, cars are legally registered during the 1 month they have insurance coverage. The second month they do not pay the monthly premium, and subsequently go without insurance for up to 2 years (the maximum period for registration). So do the insurers report the cancellation to the state registry and if so, does the state do anything at all to enforce the insurance requirement? They can pull a drivers license but this does not stop people from driving. IMPOUND the cars and maybe people will comply…who knows. For now we all pay for this nonsense.
You know what Michael..You are a breath of fresh air...I watch everyday...Thanks for your hard work....and information we never hear about.
Thanks for always being here!
Im in north tampa. 45% increase in car insurance.
🤢🤮
You should leave but dont come anywhere near me. I dont do Hood drama.
I rent out a condo and it's mostly a charity, LOL. The HOA fees are sky high, but chefs are in it that could not afford to live in the area otherwise, so I keep the rent at the bottom of the market since life has been good to us. No need to squeeze blood from a stone. But any financial person would call me a moron for not selling it. But I like to contribute to the community in a sense and over time it's appreciated a lot anyway.
If only everyone had your morals…what a better country we’d have 👍
Wow, that does sound like charity. Pretty kind of you.
It’s good to see that not all landlords rent their properties at the market-rate. I subscribe to that way of life.
Such a gorgeous neighborhood, Michael! I swear, Miami has a ton of them! I hope everyone who watches your videos will subscribe! The information you share is so valuable!
Thank you so much Jeannie!
Thanks for keeeping us up to date.
You're welcome
The neighborhood walks are your trademark, and you're right: they're a breath of fresh air for viewers. Thanks !
I see condos for sale where I live that say $500-600/m for HOA. For a crappy public gym, hot tub and sauna. Get The F out!!!
Michael, please keep the walks thru the streets showing those beautiful homes.
I have been selling insurance for 20 years... Louisiana, Florida is the most expensive states for auto insurance.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person..
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
When I bought my home in 1982, interest rates were 12%. Thanks goodness it has been paid for. I can’t image that rate in todays times.
Paycheck to paycheck is the same for most and me too
The outdoors and the landscapes are unique
Home prices north of Tampa are still affordable for my 2021, 3br 1 acre I pay $1200 insurance and $3500 taxes. Power and water only a fraction of what I payed living near Seattle.
HMO fees = Too Much for So Little value to the payer.
Those who are really feeling it are low-end buyers who can't afford a house, but USED to be able to afford a modest condo. Sympathies to them.
Run away insurance costs is why I left Florida in 2022. My car and home insurance was 6500 and rising. Add property taxes and we were up to 13000 per year
Wow. I love this insurance company out of San Diego. 2400.00 a year 3 cars house is a lil high but different co 1800.00 and taxs at 1700.00 a year I guess this is a bargain.
@@brianmatthews4149 , relocate to UK, property tax on $600k is $3k a year, car insurance comprehensive $400 a year, house insurance $200 a year..Electric and gas $250 a month for 7 months and the 5 months $120
@@judymckee5992 that's a deal
@@brianmatthews4149 , exactly. Money printing by fed is causing huge inflation. Taking wealth from thin air.
Awesome outdoor videos!! Keep it up. Very relaxing as a viewer, great scenery! Thank You!👊😀👍
Not only No . But hell no I don’t have that kind of money to repair my house .
Just for reference, Canadian mortgages need to be renewed at least every 5 years maximum. So basically more than 1/5 of mortgages renew every year.
That’s not good news!
A variable rate mortgage doesn't need to be renewed. You can't make such general statements, especially in such a big country which is not a single market.
I live in Canada, got my 5 year fixed mortgage at 1.87% back in 2021. Not looking forward to the renewal, piling up cash to put down as much as possible so the new increased rate doesn’t hit us too hard.
At least you got a few more years had a really good rate in the meantime. Hopefully you can stack enough cash to significantly increase your equity position at renewal.
What is the rate typically today?
@@llew-AZ for my mortgage with same terms and same provider would be 5.54%
@@luketarplin Thx. Going rate down here is 6.95 to 7.15% for excellent credit. Over 740 blended credit score.
Geeeze,, thank You so much for your video's. I will be a first time homeowner and information in your videos are super helpful & will probably save me thousands on a new home purchase. Hey, I lived in Vegas for a year back in 2012 and my car insurance almost doubled,,, just for moving there nothing else changed in record! Wow! I feel Ya!
can you also talk about health insurance costs on top of all other costs? that's an insane cost to me even with insurance. If you are poor, you get help. If you are super rich, it doesn't matter, but everyone else is screwed. The deductibles, premiums....insane.
The current market conditions are unsustainable. It’s that simple. Get ready it’s coming.
in France we have interest rates at fixed rates: thus for 10 years,(2012-2022) thousands of home buyers and rental investors have made a collosal deal by borrowing at 1.5% over 20 years,...things have of course changed since 6 months, interest rates are now at 4%, but this remains unchanged at 1.5% for those who had signed a loan contract between 2012 and 2022!
I had 2% for 10 years Fixed not today 8% IF IF I use it..Take care I miss Paris..
Bloody good deal👍🏼
@@jimshoe402 these kinds of deals happen once or twice every 100 years. So it's over for at least 50 years, so what else? well think about this: a dairy cow brings in as much cash flow as a "studette" (it's a room with bathroom in Paris) in Paris, or 400 per month, there is the new deposit, but . .hush...
@@oscarellis2563 these kinds of deals happen once or twice every 100 years. So it's over for at least 50 years, so what else? well think about this: a dairy cow brings in as much cash flow as a "studette" (it's a room with bathroom in Paris) in Paris, or 400 per month, there is the new deposit, but . .hush...
Yes, continue to do what works and does best in your opinion. I like the walking video with expertise explanation of the area. I feel like I have been in Miami already. LOL
It's hard to find such honest house market/economy reviews as Michael's !
Thank you!
I live in Illinois and my insurance went up 20% without any claims. So it's not only FL.
It's everywhere!😮
New roof, new AC, just got renewal 4k home insurance 1100 sq ft house in not a great area of Bradenton. What a joke.
The crazy thing is a 4K premium in Florida now is a good deal 😳
you need to shop around for the best auto insurance price every 5 years or so. It's a tactic they use on safe drivers everywhere, not only in Florida. I just switched my company and saved around 400 a year for the same coverage.
+1
Check the rating of the company 5* mine is..
Chased by leaf blowers and rain, thank goodness you aren't being chased by dogs. You could do a Q&A livestream when the weather is bad.
For those already in a condo, beside the cost of renovation there will possibly be years of renovation. Do you want to go through the noise and inconvenience?
There's definitely that aspect to it as well
If you buy turnkey, there's no upside. Pick your poisin!
At others demands
I learned so much just watching your RUclips videos..Thank you
That's what I like to hear!
Michael. thank-you for your insight into the market conditions. You have saved me money, frustrations, and potential poor decision..to move back to Florida..lived in Broward County for ten years..
I love seeing the Miami sites
High growth always leads to higher costs
Wanted to buy a condo down there since 20 but held off because I could see this stuff coming.
I looked at a small condo in Ct. It was really nice, but the taxes were $9000 a year! And the common charges were another $5000!
Wow. That's crazy!
@@HeyMsVal That's why I didn't buy it!
You have one of the BEST News Channels on RUclips regarding all things Real Estate in Florida.
Thank you for sharing all your thoughts and information.
Blessings, Carlos ✝️🙏❤️😊❗️
Thanks Carlos really appreciate that my friend !
As soon as you refinance your home or condo for repairs/HOA assessments/living expenses then all the new interest rates kick in. If you are on one of those first time home buyer shared equity loans then you will have to write a check out of a predesignated percentage of your profits to a city or county and you will also be on the hook for new and improved property taxes. I got an FHA loan and used a first time homebuyer program for a condo in San Diego in 12/09 for a foreclosure price of $110k. Then the homeowners approved various assessments so I had to refinance. I think the assessed value had risen to 180K so I owed back the city of San Diego the 17% they paid toward the loan plus 17% of the equity of 70k. . This was deferred under terms of the program for 30 years. OR refi or sale. Fortunately my taxes stayed the same due to CA laws. And since the principle went up by 17% so did my mortgage.
But then the HOA got it's act together and realized the association had NO RESERVES AT ALL. So up went the monthly dues by the max allowed in California without an owner vote, 20%, for two years when I sold and kept all the profit. During that time the HOA only decreased services. However, they did agree to my request for removal of somebody else's wind chimes that played the "We are the children" part of "We are the World" over and over and over. It was a windy hilltop setting. I hate windchimes.
Wow, I still learning. Thanks
Just want to say thank u for your coverage!! I think your right about walking in the rain and having new scenery every second… and I love that you me sharing some analytics about your channel .. I wondered if asking helps and I go back and forth on my tiktoks with that .. have a great day!!!
I remember having to bounce my car insurance to different companies at least every other year. Even without accidents , tickets. Same explanation, they said Florida is a high risk state in general, at least where it was more populated. That was back over a decade ago.
In 2023 Forbes did a survey and the states with the higher car insurance rates were New York, Florida, Louisiana, Pennsylvania and Maryland. Full cover was $4,300 in Florida even more in New York, $4,700. Lowest was in Oregon and Wyoming at around $1,400. Something going on with drivers in some states, even car crazed California was low at $2,400.
Interesting stats. A lot of people agree that Florida drivers are among the worst. It is a different dynamic of people mixed together on increasingly crowded roads. Tourists taking their time, older folks that are not aware and people that live their trying to get to work etc. Nowadays I hear of more road rage because people are not patient or don’t allow enough time. Plus people going slower then they should in the left lane. Way too much congestion and new condos going up.
@@melanielattanzi9388 road rage is a big issue many places. People shotting someone because they did not go fast enough is crazy.
More rain is coming this week. I am in Orlando area and we have rain coming Monday to Friday. How about playing your guitar when it rains. My favorite song is Rain Drops Keep Falling on My Head. LOL !!!!!
Michael
We appreciate you ❤
Thank you!
Same deal with my car insurance!!
We appreciate you doing these videos for us. Beautiful great outdoors. Pretty sure that the new stipulations apply to residential and not commercial. What about the Holiday Inn towers 50 y o?
in most condos on the west coast, you can hear everything (they were built with woods floors as opposed to high rises on the East coast). Why would anyone buy a condo where they can hear their neighbor's footsteps above their head?
Because they cannot afford a house and think it's the closest they will get to "the American dream".
@@treesnmoguls the food starts to rot, on the shelves, prices fall..?
In the West it is cheaper to build with wood because there is a lot, and they do not have the humidity issues that cause rot. And since the wood does not rot and loosen nails, you don't hear the person above you in a well-made building unless it is quite old, aka pre-wood truss.
@@mellead8727 I would assume the particular developer cut some corners. I have been in tons of condos in California with upstairs bedrooms or units above and never heard anyone walking above. We even lived in a couple and never had that issue.
@@mellead8727depends on the condo management/board. The condos we were a part of had board runs by tenant owners versus investors. So, they were maintained to high standard. When the condos are owned/run by an entity that cares about nothing anything but profits, well ...
The same thing is happening in Texas.
Sure is, just a nightmare…so many Texans having to leave and relocate due to soaring prices.
One reason our car insurance was high when we lived in Florida, because of all the immigrants driving without a license and no insurance. Glad we left in 2006.
Sure ... it has absolutely nothing to do with the fact that Florida's fatality rate was the fifth highest in the nation.
I left in 96 to return to SC. The cost of living here is much better. Imagine a few more multibillion-dollar hurricanes.
I moved to South Carolina from Florida last year. Much cheaper here.
@@FreeAmericanUSA one hurricane away from hell
You think anyone believes you? The insurance costs are high because old farts cant see well enough to drive. Gotta go to Walmart everyday,
Great video Michael and I always appreciate what you have to bring to the channel!!! :)- Kudos
I live in Atlanta my insurance & other friends went up $200. Same here haven’t had no tickets or accidents in 10 years.
My 2100 sf, 2015 build 3br single family home in Sarasota, 5 miles from the beach, went from 1600 to 2400 per year for fire insurance. No bueno
Regarding car insurance, you forgot to mention Morgan and Morgan, Dan Newlin getting huge insurance payouts.
Also people driving junk cars.
no state inspection getting junky cars off the roads.
Hit and runs due to no insurance, no license.
It’s the wild wild west in freedom loving Florida. Resulting in high insurance premiums.
Those crooks especially M&M now advertises regularly on the NBC 6:30 Nightly news and boast America's largest...imagine the expense and imagine the payouts to get that big in just a couple of decades. And they're only 2 of the never ending crooks with billboards covering all of Florida.
WOW, Im Canadian,, and your more right than you know ,, in fact , your sugar coating it .
Dont stop vids. Forge ahead friend! 👊😀👍
Don't worry I'm not stopping
The auto insurance rate was not just in Florida. I live in the middle of nowhere in Nevada and mine went up another 140 for no reason. We have so few people that we don’t even have stop lights. 🙄
I am seeing people in the comments reporting this from other states as well, sounds like its everywhere.
That's the advantage of renting.
The landlord only has enough pricing power to raise rent to market levels, and since renters are generally less wealthy, there is a cap on the amount of rent that a landlord can charge.
On the other hand, if you own, your HOA, insurance, warranty, utility, maintenance, repair, replacement, refinishing, repainting costs (just to name a few) can increase exponentially.
That’s why I rent for my personal and invest in rentals. There’s no real benefit to buying if your sunk cost to own are greater than or equal to the price to rent a similar place.
I agree with this. We own dozens of single family rentals, we do own our home because we like to waste money on our home and garden, etc but you our both correct
Owners will not lose money on you.
Worst case they sell it and kick you out if you don't want to pay more.
Bingo
@@CHMichael this only works up to a certain point. If an area becomes so unaffordable and you need to raise rent to offset insurance or another fee but can’t because the average person in your area is tapped out, you just have to eat that cost.
You’re at the mercy of those that can’t afford to purchase. That’s the surprise.
My brother bought a house beside a known drug dealer in his village. He got it about 80k (20%) off. His gamble was the guy would either OD, be murdered or go to prison. In the end the guy went to prison, the house was bought and renovated by an investor and my brother clicked 80k. Plus its gone up by 50% since then.
Winner, winner, chicken dinner.
😅😂
Easy.charlie has a trademark on that.
We lived in northern Nevada most of our adult lives. We always vacationed in Hawaii and always thought we'd retire on Oahu. In 2016 we took a vacation to Fort Lauderdale. We loved it and it was certainly more reasonable than Hawaii. I would check prices on condos in Fort Lauderdale and would see some great deals back then. After watching this video and previously seeing the collapse of that condo in Florida, I'm glad we went another way. Still would enjoy visiting anywhere on either coast in Florida. We had a great time. I just subscribed to your channel, after watching you with your grandparents. And, I like listening to you as you walk and I can see the neighborhoods. Thanks, Kathleen
@George Nevada is the #1 state with the most land owned by the federal government.
can you tell us more about your inability to walk around without having to pay an entrance fee?
@@fern8580 Nevada is mainly very rural except Vegas. Very inexpensive housing when we moved there years ago. Free hiking, swimming in lakes, desert walks, hot springs in the desert, sledding and snowshoeing in the winter. Good place for us to raise the 4 kids we had in 6 years with not a ton of money for activities and all were free and made for healthy kids. Housing has gone up like most places but still things to do in nature that are free. We don't live there any longer. Kids grown and we wanted another adventure, after living in one area so long. The areas the Feds own are not habitable. Trust me. Nevada has been mainly in a drought year after year for a long time. Can't build or grow crops or have herds when there's little water. We lived at the base of the Sierras and had water due to the snow pack. But still, there were many drought years. The further south, the dryer it gets. Try driving from Carson City to Vegas like we would for the kids State meets for sports for years. Nothing but hundreds of miles of sagebrush and a few tiny towns far apart. I said I'd never make that drive again once the kids were grown and done with hs sports. Other than that, Nevada was ok. Have a good day.
Welcome to the channel Kathleen. Glad to give you some helpful info here.
Every year my insurance would go up $400 or so. We just sold and bought a new 43 ft toyhauler and we love it. We are living life at the resorts now. And of course we document it all on you tube.
Love these videos, unfortunately my dream of living in Florida is going down the tubes.
Live on the beach
Florida is big - just between Naples, Miami and key west you find 3 different worlds.
Same goes for prices.
Remember - close to the ocean or summers are going to be rough.
Plenty of smaller towns on the west coast that haven't gone insane.
Take road trip after Easter and before thanksgiving.
Martin County, about 80 Miles north of MIA is better, we are experiencing an influx of buyers from Dade, Broward and the Palm Beaches plus Hollywood has found us :)
Unfortunately, you're not alone Florida is becoming extremely cost prohibitive for almost everyone
It's no dream living here.... its an over crowded, hot, hummid hell hole most of the year!!! Expensive as hell, no season's, no change..... boring!!!!
Why prices and insurance are increasing by that much?
How people are paying for this - so do the have the money?
Hi Michael! Great to see you. Another very informative video. As you have said, everything is going to get much much worse! God help us. Bless you and please stay safe!
You too Katie! I do think it will get worse before it gets better.
I guess the best financial move is to live in a van cause buying anything seems like a lose lose situation
Small used motorhome.
Any vehicle is going to lose value and need maintenance and fuel
@@JBoy340a correct....but that's nothing compared to the lose coming from re-estate ....
Negativity is the only thing selling now days like this conversation on YT
@@JBoy340a And you think is not the same,? A home needs expanses all year long. In this case is not a case of depreciation, this person can live the way he wants. Yes you need fuel, and your home, needs Electricity, Cable TV, Internet, gardening, Gas, if you have gas stoves ETC> paint, Roof, AC maintenance etc.
Are you sure the renovations on those old condos isn't just lipstick and rouge? I bet most are.
You can buy a beautiful house in Spain near the beach for 750k-1 million, and property taxes will be 1k per year. If you have the cash, at least look at retirement outside the US.
You can buy a lot of properties "near the beach" in the US for that or less as well.
@@WelcomeInc agreed. South Carolina beaches are still pretty cheap and have some good weather in the winter.
Everything is so expensive but things every day things like groceries. My husband and I went walked out with two bags of groceries at Safeway. No meat no milk no booze no cigarettes just every day. Food came to $91. Unbelievable we’re just shaking our heads wondering how families do that? We’re lucky it’s just me and my husband what does a family of five do? ??? :( 😮
Makes sense car insurers need to raise rates on everybody to cover the claims on inflated car values.
And the losses from Hurricanes.
Bingo.
The laws of physics do not change just because you bought an old house or condo. Just like old cars there is a point where you need to get a new one. The condo that collapsed was not a bad looking condo, It just had old concrete with rusty re-bar.
Toffu AMERICAN buildings🤣
I love the neighborhoods, seeing that now I won’t be moving there no time soon
On your auto insurance you might go to an auto insurance broker to see if they can get you a good price. It doesn't pay to stay with same insurance company for years.
Great Content Michael!! Thank you very much... Stay Well.
Prices are not down in British Columbia. Canada has become a joke.
Your videos are great. Very informative. Thank you.
Get used to this. Even if they lower them it was only be a small amount. The current rates are reasonable and will curb the runaway house prices (and hopefully actually bring them down).
Michael, I live in SoCal, never a Home Owners claim, yet they are cancelling bc they are leaving Calif. will let you kno what happens.
Wow that sounds just like whats happening here in FL
I am 2.7 times 30 years old. I don't think there's ANY inspection that I'll pass! BTW, you are very wise and insightful.....for a young man.
HOA's and insurance costs took me out of the market, I just can't in good conscience pay that much!
Could not unload the rulers....
Jaw dropped at car insurance costs. I just switched to progressive 6 months ago and after the renewal increase it’s around $560 for 6 months with uninsured motorist coverage on a 2023 Acura Integra.
My parents bought a new home in 1959 for $19,000. Sold for $90,000 in 1976 and now worth over $3 million...In Miami...