Each time a hurricane wipes out a beachfront home or business, the state should pay a fee to the owner and reclaim it as public beach. I’m tired of being taxed to rebuild beaches that are private. And I’m tired of high insurance rates because some people choose to live on islands that should never have houses built on them.
THIS. THIS. THIS. THIS! Yes. You should be the governor of Florida, @LizaTrese. Plain, common sense puts you ahead of most people. We'll actually never do this (not in my lifetime anyway). But you're 100% correct.
Rich Yankies and their whore Gubbinor...Enuff said. Honestly, I live in south-central Florida and even I'm thinking of getting rid of the house and find someplace where Hurricanes and Tornadoes are not a concern. Hate the fact that half the damned year I have to worry about Hurricanes wrecking me and my house.
@@valerierogers9609 Statement: Florida is essentially one large sandbar, with millions of homes built on it, making it highly vulnerable to erosion, flooding, and sinkholes. Its unique geology, combined with its coastal location, creates inherent risks for homeowners. Facts: 1. Florida sits on a limestone foundation, which is highly porous and easily eroded by water, contributing to the state’s widespread sinkhole problem. 2. Much of Florida’s landmass is made up of sandy soils deposited by ancient seas, making it resemble an extended sandbar. 3. The state has a very low elevation, with much of it only a few feet above sea level, increasing the risk of flooding during hurricanes and storm surges. 4. Florida’s rapid population growth has led to millions of homes being built in flood-prone and hurricane-vulnerable areas. 5. Rising sea levels and coastal erosion continue to threaten large parts of the state, particularly along its 1,350 miles of coastline. These factors make Florida’s geology fragile, especially with the intensity of storms increasing due to climate change.
Seeing you walk past a low concrete barrier that is barely holding back a calm sea, I don't understand how anyone would think it's a good idea to rebuild anything there.
I lived in Florida for 14 years and the Caribbean for 3 and loved every minute of it but it also taught me that would be the last region of the world I would ever want to retire in so I moved years ago. My older brother just bought in Bradenton last year after moving from California. I warned him not to buy near the coast but he did and now the home he paid cash for is trashed.
I lived in SWFL for 8 years - lived thru Irma in 2017- we left 3 years ago as he place was getting too over crowded with covid transplants- traffic was bumper to bumper 24/7 365 rather than just in season- the HOA thought our money was their money proposing 15-20M projects to add to fees and assessments. All of our friends left- We are seniors and honestly could not live thru another hurricane- nor did we want a second home down there. I think many will start to feel the same way.
@@valerierogers9609 yes as SWFL become THE place to move the roads became so over crowded all the time! Mae quality of life not so great. had 3 accidents none our fault while living there-
Important to mention that even if you want to rebuild, the availability of contractors and materials is going to not be enough to deal with the amount of damage that has been sustained in the last couple of years.
Have lived in SW FL since the 70s. House has never flooded or had serious damage. As I approach retirement age not sure I want to stay. Asking myself if I'll be able to handle this 10 years from now. Really weary of boarding up. Tired of sleepless nights. Never thought I'd say this.
I retired 5 years ago and always wanted a house with a pool in Florida. I have Family in North Port I visited since a kid. After hearing their hurricane stories just over the past 3-4 years, Sadly I don't think i'll be moving from Michigan. Plus the increasing population/traffic/prices, have ruined the whole Florida nostalgia for a lot of people including myself.
My suggestion is find one of your vices or maybe all of them and stop spending money on them and save your pennies… Get out as soon as possible. I hope you come close to what you think your house is worth but after all this stuff w/ ‘Canes Gone Wild, I don’t know who wants to live down there and buy a house…😢.
I have a running group that has met at Sandbar Tiki on Manasota Key the last ten years. I have friends with houses on island. It is complete destruction out there. Helene flooded houses inland in Port Charlotte and North Port. Milton flooded Englewood and the entire coast of SW Florida. People will leave. Investors were already losing money before these storms. Florida as a cheap retirement destination is over…at least for now.
There’s no point in rebuilding the damage areas in this video because another Milton will wipe out what was rebuilt! The damaged areas should become a permanent tourist attraction!
I had a similar thought a couple of days ago; the whole peninsula, and even up to Tallahassee south needs to be a natural preserve that the world could come and see for a fee, but in a very limited sense… No one would be able to actually live there except for on a boat and you’d have to keep moving. You can’t just hang out with your friends for days on end without being at risk for, some severe jail time w/ no fines…just long sentences.
Shore Acres in St. Pete is the community I believe where the guy's house flooded four times in past two years. We lived in St. Pete in the 80's - Shore Acres always flooded - but never seen the breadth and depth of Flooding it's been experiencing in recent years.
Great video Ben! I was just on a train from Florida to Virginia and three people I met were moving out of Florida for good. I’m not sure if it was just a coincidence or if there’s something going on. But after talking to them, they shared the same perspective. I think the scale has finally tipped.
One important point is that you don’t built next to the sea 🌊with the traditional construction used in the area. You need concrete blocks and iron bars and a concrete roof like they do in many island countries in the Caribbean!
Yes but that also is not a guaranteed way. You remember the building that collapsed in Surfside? Apparently the iron bars were rotten from the salty sea water that would hit the foundation of the building from time to time. Maybe it’s just better to forgo building in close proximity to the water once and for all.
I saw an article on a place out of Bradenton right on the what looked like the edge of the mainland before the intercoastal and they were $1.5 million-$2 million ea. home constructions sites that was planned for a storm like this and I hear it did quite well, so that’s the future. People will come back but they will have to be multimillionaires and be able to forward $80-$90,000 a year in insurance.
I think that it no longer makes any sense to live in Florida and that there will be a massive exodus of people to other states. The cost of living, property taxes, home and car insurance, low salaries and poor working conditions, high HOA, hurricanes, floods, tornadoes and unbearable heat will make people flee Florida. That is why property prices are going to drop drastically in the coming months and next year.
@@rdee7406has there been back to back to back to back catastrophic hurricanes in Florida for decades upon decades that has left much of the most populous parts of state seeking a bailout from the northern (49) states? Americans love *Floridians*, but Florida, not as much as you think.
@@rdee7406 haha!! If that’s what you take from my point, then you are not as smart as you think you are. You know to be chosen in the U.S. “Special Forces” it is critical you show FEAR. Being afraid is not being a coward, but a necessary emotion to make wise decisions. Floridians who are NOT afraid of the consequences of NOT making wise decisions will be doomed to their own stupidity.
@@greenbrown7776 we came down in 2019 with the thought of renting a year then buying. Pandemic in 2020, followed exponential price growth following. Taking the cumulative inflation since 2020, In a normal market prices appreciation would be in the 22% range, certainly not 80%. Hard pass…
here in N CA, 20 miles north of San Fran we looked at a house recently. Our insurance company, Nationwide isn't writing new policies even though we have 4 houses and 5 cars insured with them over 30 years. Best quote I could find was 5X what we pay now. Not going to move.
If it can't be insured it, it can't be mortgaged. If it can't be mortgaged, it likely can't be sold. If it can't be sold, it has no value. The future is here. Welcome to the future.
Well, that includes everybody, doesn’t it?… the whole place was built for retirees and that was 60+ years ago so what you call retirees are actually mostly long-term residents😂
@@billjames3030 getting your insurance money is largely not gonna happen these days. The insurance cos. are notorious for not paying, rejecting adjusters claims, delaying for months and years, etc. And the politicians just keep on taking their “donations”.
Moved out of Tampa back to Atlanta in Sept. You would not believe the lower, lower costs of EVERYTHING here compared to Tampa. Shocking. Food alone is the big one.
In the 50' and 60s many of the homes near the beaches were little bungalows and cottages, very few were dumb enough to put money into a big house. Florida was nice back then.
I had a house built in the Philippines near the coast. It is up a hill. I am self-insured not trusting insurance companies here. I could have built a more expensive house but being self-insured I knew that maybe I would need to rebuild or repair in case of damage. There is no danger of flooding being on the slope of a hill. But earthquakes can occur here. Just build what you can afford to rebuild. Just be aware of the worst case scenario.
Subscribed. Thanks for these difficult updates Ben. I am north of you on the coast in a condo. No water inside but it flooded all over especially inland areas. I've lived all over FL since 1975, the Keys to Pensacola. Been in many hurricanes and typhoons from Bermuda to Hong Kong. The destruction is awful and aftermath/cleanup takes years. Keep the updates coming.
I know a lot of people telling me Florida is a hard pass for them. Insurance will go through the roof if you can get it. Terrible for the people who went through this. Such devastation. Not just hurricanes but Ef3 tornadoes. Florida will become uninsurable.
The problem with moving is that you will be hard pressed to find buyers for your property there. Disclosure is only right. After all to try and hustle someone by not disclosing prior damage is immoral. Bottom line, living in Florida is no longer a good financial move
We loved Naples but felt like we dodged a major bullet with Hurricane Ian. So we pulled up stakes & left Florida. I regretted leaving & still miss it but the decision looks better every day.
Everyone understands the allure of living on or near the beach. I have 4 children that live in Bradenton and visit them twice a year. Even though I enjoy visiting them, it was Anna Marie Island that I wanted to visit. Living in Illinois (going to be 32 degrees tomorrow night) it is wonderful to visit them. In fact, I was a little jealous of them living in such a movie paradise, every time I flew home, looking at the beaches from the plane. They survived the two Hurricanes , but they depend upon the rebuilding of SWFL.
@@larryrowe5259Maybe I am an exception because I can’t really see the allure of beach living. I think it’s boring because I you see is the vast water behind your window. Especially if the weather is cold and gloomy, the ocean becomes 10 times more depressing. Much rather be in the middle of the action where the shops and restaurants are. But then I’m not a senior.
As you are watching - stop for a moment and pray for this community. Many older people who worked hard during their lives and want to spend their golden years enjoying their last few years on this Earth. But also - young families and single adults or single parent households, heck - many people in different situations struggling. Take a moment of silence to ask for their strength as the rebuild their communities. Many might not have that stamina.
Those who survived Helene and Milton need our prayers. If they can afford it, they should LEAVE Florida for a safer location. Hurricanes are a fact of life in FL. People need to wake up and smell the coffee.
@@paulmcgraw9284 Often times - older adults and now their “community snd friends” are there. Kind of hard to start over😢 Pray for them that they really can claim their golden years for their last years on Earth!
In some areas insurance is a gamble that something won't happen but if it dose well it's a safety net, no longer a gamble but a fact, insuring in Florida is not possible in free market.
If the authorities in Florida had any common sense in the 1920s through the 50s and beyond they would have bought all these barrier beach islands for state beaches and reservations. Now the State should offer to buy out the owners of properties they can't restore or sell and convert the purchased properties into state parks and conservation department property.
I live on the Atlantic coast, I am tired of my car insurance going up for boats and cars from people on the coast. If I could get my mother to leave, I would be gone.
Florida should be turned into the largest RV temporary trailer park & you need to prove that your RV or trailer can be moved each month, or it needs to be condemned.
The new "hot" property search for Florida, is "highest point" in Florida. That's where people are going to want to be, because that's the place of the least damage. Not the coast anymore, the highest point, is the new place to be, and people WILL fight over it.
It is unfortunate, but this is not sustainable. Earth wins, humans lose. I am so sorry to see this. IMO, cleanup operations and restore natural beauty to most Florida coastlines by a 2 mile border area, and any rebuilds past 2 miles, must be built to new, much higher standards. Or some other idea to get out of storm surge, excess wind and rain...time to retreat, not fight.
When do we as a society just call it? I'm not sure how realistic to say "Tampa strong" in regard to rebuilding. I feel it's even stronger to just move on to less volatile areas.
It's no longer going to be a matter of I don't want to pay that much for insurance, it's going become a matter it can no longer be possible, this might be the end of the Florida insurance industry
Sorry to see that. I wonder if living on the beach in western FL is even sustainable any more? Especially as our oceans rise and storms become stronger.
I really love the Gulf. The people (not their politics). The food. The culture. The beauty. It's a special place from Key West to Brownsville. But there AIN'T NO WAY I'd buy property and a home within 100 miles of it. It's too darn hot and brews up monster hurricanes all on its own. New Orleans for sure and Tampa Bay and Houston maybe are doomed cities. Just too much downside risk. And it's a shame.
insurance companies were a nightmare in 2004 when i dealt with them alot. today they have written out and pretty much guaranteed their minimal risk in these situations. IF you ever get paid expect it to take so long that you stay mad the entire time. spend $10 get paid back $2.75 in 6 months. only 25% had flood insurance. not only a total loss but you have to pay to rebuild. and once this all settles there will be a mass exodus and real estate crash that furthers the problems for everyone. and insurance is going up. so are taxes. and this winter's tourist season is minimal. on and on bad news for florida
Gee my insurance is 1100 a year and mortgage with taxes is 640$ a month and the high temperatures was 93 this past summer but I live in one of those high tax liberal states it’s just hell here.
This video was taken where I live. We just got back to Punta Gorda. While my home is fine, much around us is heavily damaged. Not sure how this plays out in the long run.
What are you planning to do now as a Real Estate Broker and RUclipsr? Are you leaving the SW area? What kind of Value Proposition are sellers going to offer? Is the buble going to pop! What is going to do the county with the property taxes? How are Insurance companies going to rethink their business? How and when are the communities in SW Florida and the politicians in charge of the state of Florida start to think out of the box and recognize that we will need a Plan Marshall and a new way of planning the future!
Thanks for the update - very sad. Recently retired and watching your videos to learn about the real estate market there as we thought about buying waterfront there. After this, have figured out that it is too much for us and GA may be the way to go. Good luck.
I hate to say it, and I know my comment will not be popular. But what is occurring in Florida and other southern states, is mostly man made. In the rush to make profits, developers have been allowed to build homes and businesses, in places that are not Suitable to build. The same thing is happening in parts of Texas, and other southern states. Houston Texas is another disaster waiting to happen during one of these hurricanes seasons. Communities are being built in low level areas that use to be swamps. And expensive homes are being built right along the beach areas of the Gulf of Mexico, that is known for yearly hurricane threats. How many times can you patch up a sinking ship, to only at the end,find yourself under water .
There have been FIVE hurricanes hit the US THIS YEAR that did over a $BILLION DOLLARS. *BERYL. DEBBY. FRANCINE. HELENE. MILTON.* In the list of COSTLIEST hurricane seasons ever 2024 is FOURTH ... so far. FOUR of the top FIVE have been in the last five years. And STILL the REPUBLICANS DENY climate change. Because the oil majors and the auto companies (are THEY in FLORIDA?) want them to.
Good seeing you. So sorry for everyone hit by all the storms. Wonder what the house with the roof tiles made out and where did they end up? More storms in understand.
Sarasota looks fine, just went out to dinner downtown Sat night, everything is open like nothing happened, we got lucky this time!! Lido & Siesta Key got sand and flooding from both storms, to be expected.
Most folks building on the coast of Florida don't even own the land...the State "allows" construction, but the actual land never leaves the State's hands. Stupidity on insurance companies part to have ever issued policies for these homes to begin with. Once they accept the money for said policies they should absolutely be held liable for the terms. Simply cease issuing these idiotic policies and you will see a dramatic decrease in building on the coast.
There is always a max payout if a home is total loss and that’s what the insurance will due minus deductible…. However if they don’t have flood insurance they won’t get much of anything sadly. The house in the street clearly a total loss
Many homeowners in Florida have been dropped by major companies that have totally left the state. Many like myself are now covered by new fly by night companies that have little to no track record. A law was passed recently that lessened the right of the homeowners to sue insurance companies for unfair denial of coverage. That means that most insurance companies will deny coverage outright, no matter what you have. So getting payment, especially on multiple claims is going to be a tough battle. And that’s just regular homeowners insurance. Regular homeowners doesn’t cover flood water damage, an d may not even cover “wind driven rain” damage. Flood insurance may pay more, but very few people carry it. Many homes were flooded both here and western North Carolina that are not in flood zones so flood insurance wasn’t even thought of. I wish I had sold my home 2 years ago at the height of the market. I am quite sure values will significantly come down after these multiple storms. And mark my words, rich people with more money than sense will buy up these properties and build again and they can afford insurance, leaving the rest of us in the dust paying ridiculously high premiums for very little actual coverage.
Actually, a lot of those wealthy buyers do not get or have insurance. They are wealthy enough to just take the loss, like a lot of us would hate to drop an ice cream cone, or lose a dollar bill under the stands. It’s no fun, but it’s not devastating. An “oh well.”
I can think about 2 good lessons: 1) People should leave nature alone cause humans are not going to win. Stop trying. 2) Scale down the houses. People really don't need that much space to live. Perhaps to accommodate the ego, who knows...
I’m confused these folks knew they were in a hurricane prone area. It’s sad yes but it’s what they need to expect. That’s why I don’t understand why folks move to beach front areas.
The gulf coast actually had about a 20 year period with no storms or very few big ones. People don’t believe in climate change and don’t realize that this is our new normal. Neither Helene or Milton would have become anything other than a 1 or 2 if not for the crazy warm water in the gulf. Oil companies own our politicians so nothing has been done to stop this.
I am 5 miles from the Gulf in the Venice area. My neighborhood/home did not flood or get damaged. I'm wondering if, in a perverse way, if home prices will increase for undamaged homes now that there will be a home shortage? There will always be people willing to pay the homeowners insurance or those who can self-insure. At one point, 75% of real estate transactions in Sarasota County were all-cash deals. I am thinking of selling and moving somewhere else. I am lucky to live up North in the summer, but am wondering if owning a home in Florida to enjoy the winter weather is worth it. There are few areas with warm weather in the winter where I would want to live. Those places have risks too.
Its time for the rest of the Nation to get heavy handed with the whole Florida experience. The banks need to assign a negative credit code for their irresponsible decisions. The American tax payer shouldn't be on the hook for these Hurricanes. Good people in Nebraska and Kansas will need Our help in the future and deserve their turn at trough, for the sake of farming as opposed to sunbathing show-offs.
@Jimmyjackfruit i agree. We need to stop enabling people to live in flood and hurricane zones. The help we should give is to finance moving them somewhere more hospitable. We also shouldn't wait until it happens to do it. It's a waste of money to keep restoring these homes and businesses storm after storm. The help should be we will finance moving you somewhere safer or you are on your own. That's the philosophy of the insurance industry. They're not going to keep insuring these people when they know it's just a matter of time, and they will have to pay out. A lot of these homes still have claims on them from past storms. When the hell are we going to learn?
@@SCHVIN1nobody should be helping homeowners living here. It’s between them the bank and their insurer. Of course you are more than welcome to enable poor decisions with your wallet. There are kids with cancer @ St. Jude’s,if my money goes anywhere it’s going there not to bailout some fantasy lifestyle choice.
The laws are to make sure the common homeowner cannot sell on the market and has to sell to a multi million or billion dollar investment firm. This is how it’s been set up for years.
Hey Ben, love the show...long time watcher. I was wondering what your sources are saying about when Shorty's is going to open back up? Any help you could give us on that subject would be appreciated. Once again, big fan of the show
Thanks Thomas! Apprrciate the support! I can't tell you how often I'm asked this question. It is a real concern for the people of SWFL. Unfortunately I have to defer to the experts on this one!
Exactly. I am a Floridian (Orlando). The only way I would live on the coast is if I was a renter. Then, I wouldn’t be responsible for the property if a Hurricane hit it.
I am not in real estate but I know that the cost of insurance will make all Florida Properties unaffordable because you can’t get a mortgage without insurance. I heard someone say they were quoted 90,000 a year for hurricane insurance and that wasn’t flood insurance. Yikes!
As a Floridian, when the day comes (which could be soon), that we can no longer get or afford home insurance, is the day we leave. I’m not starting from scratch in this economy.
Devastation is just part of living near the water in FL., pretending to be shocked by storm wreckage is almost laughable. TV weather could rerun hurricane videos from 50yrs ago instead of flying film crews into Florida to film the same-o same-o.
PS..I have a FL home 6 miles from the ocean at 30ft+- above sea level. Place is 50+ years old and still hanging on. Insurance in this wind zone is a joke, if it blows away I'll be moving farther north.
I see a lot of negative comments about living in the Detroit area but I would rather live here than Florida. The winters are mild. House prices seem reasonable compared to the rest of the country according to some of the films I see. There are no major earthquakes, hurricanes or other extreme events.
New sub from Melbourne Australia. Interesting to see what is happening there post Helene and Milton. Is it true that you can walk away from a mortgaged property, just hand it over to the bank - we can't do that here. The property would have to be sold and liability paid. If insufficient price realised then previous owner is still on the hook. I would think that corporations will come in and buy up at heavily reduced prices - correct me if I'm wrong. Very sad situation 😢
It may be a good time to relook at new construction in your area that has NOT been affected by these storms. As an investor, proof that numerous storms have come through and any proposed property investments remain unscathed could help restore confidence (maybe falsely so)? I've been interested in the Venice area south for example. If there are any areas that have not been wiped out, I'd love to hear about them!
I work for a builder in Wellen Park. Only landscape damage, no flooding, electric was restored to most places in 24 to 36 hours of the storm. Venice Beach was open on Saturday when I was there. I was completely shocked of how well it did. The southern end of the island did not fare as well
Those on retirement are already priced out,whether they want to admit it or not. Wage laborers won’t be able to afford it,they could barely afford it before.
People won't forget that florida gets hurricanes. They happen much more often now, insurance companies never forget and reporting laws force sellers to remind buyers.
You've got that right about insurance companies. They don't live on feelings and faith. They operate on facts and statistics. The facts are climate change is real and Florida is right in its crosshairs. Desantis can write as many laws as he wants that silence, government officials and prevent government planning for climate change. It will not change the fact that climate change is his states biggest economic threat. Not brown people. Not gay people. The climate. Enjoy the wind and water. There is more on the way.
I lived in SW Florida fir thirty-seven years. It is time to accept the fact that certain areas should NOT be rebuilt . That coastal areas and barrier islands are by Nature there to be planted , mangroves and protection for mainland areas. Common sense .....use sone common sense . There us no future where this improves .
Hurricane Donna 1960. Naples was little fishing village. Exploded with development after Donna. Fast forward....Hurricane Charlie, August13, 2004. I was there. Huge damage. Another explosion in development. Next, Hurricane Wilma, again development explodes. Look, theres Florida, and then there is Naples. No matter what it costs to live there, people will flock to the area. Loved my 24 years there.
@@Brian_Cummings Drive around in old Naples. Go into Port Royal. Walk 5th Ave. Look at the landscaping in the medians. Take an alley tour of old Naples. Yes, I think it is a very unique place in Florida. Lived there for 24 years.
@@Brian_Cummings Your entitled to your opinion. Do you live in Florida? As a result of my employment while living in Naples I traveled the State extensively. As a result I will stick to my opinion of Naples being one of the premier places to reside. Thanks for the feedback.
@@johnharper2016 to each there own, I live in Sarasota and have been all over Florida, Naples is the last place I’d want to live, it’s the most boring, pretentious and bland place in Florida.
The real problem everyone is missing is that the average global temperature rise is accelerating and the extreme weather events are going to get alot worse The global CO2 levels are 423ppm and climbing which affects the average global temperature rise Tic toc
@ricksmall5240 shhhhhhhhh! Quiet down! Don't you know DeathSantis signed a law a few weeks ago that prohibits state and local agencies from mentioning climate change and from strategizing and planning its mitigation?
2 месяца назад
4 foot of sand covering the whole coast of Florida, 5 tornadoes at the same time. No one is questioning all these first time ever events and how it formed off the coast of Mexico and not Africa, it developed in to a CAT 5 in a couple of hours? Come on really?!
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
Each time a hurricane wipes out a beachfront home or business, the state should pay a fee to the owner and reclaim it as public beach. I’m tired of being taxed to rebuild beaches that are private. And I’m tired of high insurance rates because some people choose to live on islands that should never have houses built on them.
THIS. THIS. THIS. THIS! Yes. You should be the governor of Florida, @LizaTrese. Plain, common sense puts you ahead of most people. We'll actually never do this (not in my lifetime anyway). But you're 100% correct.
Rich Yankies and their whore Gubbinor...Enuff said. Honestly, I live in south-central Florida and even I'm thinking of getting rid of the house and find someplace where Hurricanes and Tornadoes are not a concern. Hate the fact that half the damned year I have to worry about Hurricanes wrecking me and my house.
While I love the idea, taxpayers would foot the bill and they would not be happy to pay for someone elses home.
What baffles me is all the high priced real estate people pay for on a sandbar sticking out into the gulf.
@@valerierogers9609 Statement: Florida is essentially one large sandbar, with millions of homes built on it, making it highly vulnerable to erosion, flooding, and sinkholes. Its unique geology, combined with its coastal location, creates inherent risks for homeowners.
Facts:
1. Florida sits on a limestone foundation, which is highly porous and easily eroded by water, contributing to the state’s widespread sinkhole problem.
2. Much of Florida’s landmass is made up of sandy soils deposited by ancient seas, making it resemble an extended sandbar.
3. The state has a very low elevation, with much of it only a few feet above sea level, increasing the risk of flooding during hurricanes and storm surges.
4. Florida’s rapid population growth has led to millions of homes being built in flood-prone and hurricane-vulnerable areas.
5. Rising sea levels and coastal erosion continue to threaten large parts of the state, particularly along its 1,350 miles of coastline.
These factors make Florida’s geology fragile, especially with the intensity of storms increasing due to climate change.
Seeing you walk past a low concrete barrier that is barely holding back a calm sea, I don't understand how anyone would think it's a good idea to rebuild anything there.
I lived in Florida for 14 years and the Caribbean for 3 and loved every minute of it but it also taught me that would be the last region of the world I would ever want to retire in so I moved years ago. My older brother just bought in Bradenton last year after moving from California. I warned him not to buy near the coast but he did and now the home he paid cash for is trashed.
I lived in SWFL for 8 years - lived thru Irma in 2017- we left 3 years ago as he place was getting too over crowded with covid transplants- traffic was bumper to bumper 24/7 365 rather than just in season- the HOA thought our money was their money proposing 15-20M projects to add to fees and assessments. All of our friends left- We are seniors and honestly could not live thru another hurricane- nor did we want a second home down there. I think many will start to feel the same way.
You can count on an HOA thinking your money is their money.
As people increase, quality of life 👎
@@valerierogers9609 yes as SWFL become THE place to move the roads became so over crowded all the time! Mae quality of life not so great. had 3 accidents none our fault while living there-
me thinking of moving to desert like yuma az or las cruces new mexico. no disasters there
I left .....
Important to mention that even if you want to rebuild, the availability of contractors and materials is going to not be enough to deal with the amount of damage that has been sustained in the last couple of years.
True dat!
Have lived in SW FL since the 70s. House has never flooded or had serious damage. As I approach retirement age not sure I want to stay. Asking myself if I'll be able to handle this 10 years from now. Really weary of boarding up. Tired of sleepless nights. Never thought I'd say this.
It has been a lot lately
I retired 5 years ago and always wanted a house with a pool in Florida. I have Family in North Port I visited since a kid. After hearing their hurricane stories just over the past 3-4 years, Sadly I don't think i'll be moving from Michigan. Plus the increasing population/traffic/prices, have ruined the whole Florida nostalgia for a lot of people including myself.
@@fit4ya1975Good call… your future mental health will thank you.😊
My suggestion is find one of your vices or maybe all of them and stop spending money on them and save your pennies… Get out as soon as possible. I hope you come close to what you think your house is worth but after all this stuff w/ ‘Canes Gone Wild, I don’t know who wants to live down there and buy a house…😢.
I have a running group that has met at Sandbar Tiki on Manasota Key the last ten years. I have friends with houses on island. It is complete destruction out there. Helene flooded houses inland in Port Charlotte and North Port. Milton flooded Englewood and the entire coast of SW Florida. People will leave. Investors were already losing money before these storms. Florida as a cheap retirement destination is over…at least for now.
its about to get cheaper
There’s no point in rebuilding the damage areas in this video because another Milton will wipe out what was rebuilt!
The damaged areas should become a permanent tourist attraction!
Agreed they can call it DeSantis Land and offer bus and boat tours.
I had a similar thought a couple of days ago; the whole peninsula, and even up to Tallahassee south needs to be a natural preserve that the world could come and see for a fee, but in a very limited sense… No one would be able to actually live there except for on a boat and you’d have to keep moving. You can’t just hang out with your friends for days on end without being at risk for, some severe jail time w/ no fines…just long sentences.
Easy to say when it’s not your investment hah!
People have $1k cell phones and do not have $400 for a generator to power a fridge.
99% of people finance their cell phones. They pay installments of $20-50 per month.
@@Ilikepalmtreesthis May come as a surprise but a person could also do that with a generator, credit cards aren’t uncommon
Strange post.
Shore Acres in St. Pete is the community I believe where the guy's house flooded four times in past two years. We lived in St. Pete in the 80's - Shore Acres always flooded - but never seen the breadth and depth of Flooding it's been experiencing in recent years.
Great video Ben! I was just on a train from Florida to Virginia and three people I met were moving out of Florida for good. I’m not sure if it was just a coincidence or if there’s something going on. But after talking to them, they shared the same perspective. I think the scale has finally tipped.
One important point is that you don’t built next to the sea 🌊with the traditional construction used in the area. You need concrete blocks and iron bars and a concrete roof like they do in many island countries in the Caribbean!
Yes, and now you have to factor in storm surge and what it will do to the ground floor.
So you want to live on the second floor or higher.
Yes but that also is not a guaranteed way. You remember the building that collapsed in Surfside? Apparently the iron bars were rotten from the salty sea water that would hit the foundation of the building from time to time. Maybe it’s just better to forgo building in close proximity to the water once and for all.
I saw an article on a place out of Bradenton right on the what looked like the edge of the mainland before the intercoastal and they were $1.5 million-$2 million ea. home constructions sites that was planned for a storm like this and I hear it did quite well, so that’s the future. People will come back but they will have to be multimillionaires and be able to forward $80-$90,000 a year in insurance.
I think that it no longer makes any sense to live in Florida and that there will be a massive exodus of people to other states. The cost of living, property taxes, home and car insurance, low salaries and poor working conditions, high HOA, hurricanes, floods, tornadoes and unbearable heat will make people flee Florida. That is why property prices are going to drop drastically in the coming months and next year.
This has been said for decades lmao
@@rdee7406has there been back to back to back to back catastrophic hurricanes in Florida for decades upon decades that has left much of the most populous parts of state seeking a bailout from the northern (49) states?
Americans love *Floridians*, but Florida, not as much as you think.
@@tascrphs Florida isn’t for scared poor people such as yourself.
@@rdee7406 haha!! If that’s what you take from my point, then you are not as smart as you think you are.
You know to be chosen in the U.S. “Special Forces” it is critical you show FEAR. Being afraid is not being a coward, but a necessary emotion to make wise decisions. Floridians who are NOT afraid of the consequences of NOT making wise decisions will be doomed to their own stupidity.
Devastating. Live/rent in Venice. Have been waiting for price declines, well I think we’ll see it now. Not sure I want to even stay.
It's not often you can find a lower-price / good-place-to-live combo.
@@greenbrown7776 we came down in 2019 with the thought of renting a year then buying. Pandemic in 2020, followed exponential price growth following. Taking the cumulative inflation since 2020,
In a normal market prices appreciation would be in the 22% range, certainly not 80%. Hard pass…
here in N CA, 20 miles north of San Fran we looked at a house recently. Our insurance company, Nationwide isn't writing new policies even though we have 4 houses and 5 cars insured with them over 30 years. Best quote I could find was 5X what we pay now. Not going to move.
The general consensus is to purchase a new home in flood Zone X about 10 miles inland. Maybe 15 minutes to the beach.
If it can't be insured it, it can't be mortgaged. If it can't be mortgaged, it likely can't be sold. If it can't be sold, it has no value. The future is here. Welcome to the future.
Which is why the State should offer to buy out these properties and restore them to their natural state.
So many recent cash buyers though.
@@EdwardM-t8p I don't want my tax dollars spent to buy property from stupid people.
There are many Rick folks. Pay cash run housing through their business. Then use it as a business loss. They middle and poor always take the hit
Then your tax dollars will be used to empower stupid people to continue to live in perpetual flood zone. @rustynut1967
Ft Myers north past Cedar Key
100 percent flooded out. Whole west coast was under
As Metal Leo would say, "Gone Now"! Paradise Lost 😢
Retired folks need to pack bags and get out. It's not financially a good idea to stay in Florida.
Get your insurance money and leave ASAP !!!!!
Well, that includes everybody, doesn’t it?… the whole place was built for retirees and that was 60+ years ago so what you call retirees are actually mostly long-term residents😂
Well insurance will only pay demolition costs there will be no monies recovered
@@billjames3030 getting your insurance money is largely not gonna happen these days. The insurance cos. are notorious for not paying, rejecting adjusters claims, delaying for months and years, etc. And the politicians just keep on taking their “donations”.
Heat, humidity, hurricanes, tornados, insects, reptiles, repressive public policies-who wouldn't want to live there?
Just people who like sunny 70 degree days in January.
Moved out of Tampa back to Atlanta in Sept. You would not believe the lower, lower costs of EVERYTHING here compared to Tampa. Shocking. Food alone is the big one.
I would not be bragging about a move from Florida to Atlanta lol, but I understand the cost differences.
@@rickss69 Atlanta is a great city.
In the 50' and 60s many of the homes near the beaches were little bungalows and cottages, very few were dumb enough to put money into a big house. Florida was nice back then.
Really it takes a certain type of dumb to invest in building a an expensive property on sand 😂
I had a house built in the Philippines near the coast. It is up a hill. I am self-insured not trusting insurance companies here. I could have built a more expensive house but being self-insured I knew that maybe I would need to rebuild or repair in case of damage. There is no danger of flooding being on the slope of a hill. But earthquakes can occur here. Just build what you can afford to rebuild. Just be aware of the worst case scenario.
@@patrickconradt5447 Exactly
@@rustynut1967 this.
Thank you for this report & opinions on Florida, current & future.
Subscribed. Thanks for these difficult updates Ben. I am north of you on the coast in a condo. No water inside but it flooded all over especially inland areas. I've lived all over FL since 1975, the Keys to Pensacola. Been in many hurricanes and typhoons from Bermuda to Hong Kong. The destruction is awful and aftermath/cleanup takes years. Keep the updates coming.
I know a lot of people telling me Florida is a hard pass for them. Insurance will go through the roof if you can get it. Terrible for the people who went through this. Such devastation. Not just hurricanes but Ef3 tornadoes. Florida will become uninsurable.
Very true. Tornados were coming down all over the southern part of the state.
They shouldn't get back to normal, they need a new way of developing the land , specially not building near the ocean.
Or redevelop, de-develop, or not develop the land.
The problem with moving is that you will be hard pressed to find buyers for your property there. Disclosure is only right. After all to try and hustle someone by not disclosing prior damage is immoral. Bottom line, living in Florida is no longer a good financial move
We loved Naples but felt like we dodged a major bullet with Hurricane Ian. So we pulled up stakes & left Florida. I regretted leaving & still miss it but the decision looks better every day.
im in naples and we are on borrowed time.
Everyone understands the allure of living on or near the beach. I have 4 children that live in Bradenton and visit them twice a year. Even though I enjoy visiting them, it was Anna Marie Island that I wanted to visit. Living in Illinois (going to be 32 degrees tomorrow night) it is wonderful to visit them.
In fact, I was a little jealous of them living in such a movie paradise, every time I flew home, looking at the beaches from the plane. They survived the two Hurricanes , but they depend upon the rebuilding of SWFL.
@@larryrowe5259Maybe I am an exception because I can’t really see the allure of beach living. I think it’s boring because I you see is the vast water behind your window. Especially if the weather is cold and gloomy, the ocean becomes 10 times more depressing. Much rather be in the middle of the action where the shops and restaurants are. But then I’m not a senior.
As you are watching - stop for a moment and pray for this community. Many older people who worked hard during their lives and want to spend their golden years enjoying their last few years on this Earth. But also - young families and single adults or single parent households, heck - many people in different situations struggling. Take a moment of silence to ask for their strength as the rebuild their communities. Many might not have that stamina.
Those who survived Helene and Milton need our prayers. If they can afford it, they should LEAVE Florida for a safer location. Hurricanes are a fact of life in FL. People need to wake up and smell the coffee.
@@paulmcgraw9284 Often times - older adults and now their “community snd friends” are there. Kind of hard to start over😢 Pray for them that they really can claim their golden years for their last years on Earth!
In some areas insurance is a gamble that something won't happen but if it dose well it's a safety net, no longer a gamble but a fact, insuring in Florida is not possible in free market.
If the authorities in Florida had any common sense in the 1920s through the 50s and beyond they would have bought all these barrier beach islands for state beaches and reservations. Now the State should offer to buy out the owners of properties they can't restore or sell and convert the purchased properties into state parks and conservation department property.
Small government Republicans won’t do that. Private sector is king to them.
I live on the Atlantic coast, I am tired of my car insurance going up for boats and cars from people on the coast. If I could get my mother to leave, I would be gone.
I live in South Miami. Moving in May to Colorado.
Hahahaha! Give us an update after 1 full winter in Colorado. Lololol!
Good solid choice!
While in Colorado you can legally smoke some weed to help you with your FROSTBITE 🥶
Bring a couple northerners with you please.
Take me😂
Florida should be turned into the largest RV temporary trailer park & you need to prove that your RV or trailer can be moved each month, or it needs to be condemned.
The new "hot" property search for Florida, is "highest point" in Florida.
That's where people are going to want to be, because that's the place of the least damage.
Not the coast anymore, the highest point, is the new place to be, and people WILL fight over it.
This is very similar to Fort Myers Beach after Ian hit 2 years ago. So heartbreaking. 😢
Time to move and let the swamp refill. Mother nature has spoken, please listen!
Going to be tough to get contractors now for new builds. Happened after Ian
It is unfortunate, but this is not sustainable. Earth wins, humans lose. I am so sorry to see this. IMO, cleanup operations and restore natural beauty to most Florida coastlines by a 2 mile border area, and any rebuilds past 2 miles, must be built to new, much higher standards. Or some other idea to get out of storm surge, excess wind and rain...time to retreat, not fight.
When do we as a society just call it? I'm not sure how realistic to say "Tampa strong" in regard to rebuilding. I feel it's even stronger to just move on to less volatile areas.
Time to replace "Tampa strong" with "left the low-lying hurricane-prone region for good" smart.
It's no longer going to be a matter of I don't want to pay that much for insurance, it's going become a matter it can no longer be possible, this might be the end of the Florida insurance industry
Sorry to see that. I wonder if living on the beach in western FL is even sustainable any more? Especially as our oceans rise and storms become stronger.
I really love the Gulf. The people (not their politics). The food. The culture. The beauty. It's a special place from Key West to Brownsville. But there AIN'T NO WAY I'd buy property and a home within 100 miles of it. It's too darn hot and brews up monster hurricanes all on its own.
New Orleans for sure and Tampa Bay and Houston maybe are doomed cities. Just too much downside risk. And it's a shame.
Hahaha, the oceans are rising?? Oh yeah, Miami is under water now, Turn off your TV!!
Oceans aren't rising and storms were just as strong 50 years ago.
Sounds like he’s been drowning in the climate change kool aid. Someone please help him
@@michaelcastaldi5461Someone please help ME! I am confused, so is the climate change real or a hoax guys???
Anyone that was on the fence about leaving before these two hurricanes is definitely gone now.
Those areas need to be prohibition on development due to hurricane risk is too high.
Great analysis!
The amount of sand that needs to be removed from homes & businesses is astounding. 😢
Reverse that statement, the amount of homes that need to be removed from the sand is astounding.
insurance companies were a nightmare in 2004 when i dealt with them alot. today they have written out and pretty much guaranteed their minimal risk in these situations. IF you ever get paid expect it to take so long that you stay mad the entire time. spend $10 get paid back $2.75 in 6 months. only 25% had flood insurance. not only a total loss but you have to pay to rebuild. and once this all settles there will be a mass exodus and real estate crash that furthers the problems for everyone. and insurance is going up. so are taxes. and this winter's tourist season is minimal. on and on bad news for florida
Gee my insurance is 1100 a year and mortgage with taxes is 640$ a month and the high temperatures was 93 this past summer but I live in one of those high tax liberal states it’s just hell here.
But your governor hasn't outlawed state local government climate planning.
@@SCHVIN1 ya got me there 😂
This video was taken where I live. We just got back to Punta Gorda. While my home is fine, much around us is heavily damaged. Not sure how this plays out in the long run.
What are you planning to do now as a Real Estate Broker and RUclipsr? Are you leaving the SW area? What kind of Value Proposition are sellers going to offer? Is the buble going to pop! What is going to do the county with the property taxes? How are Insurance companies going to rethink their business? How and when are the communities in SW Florida and the politicians in charge of the state of Florida start to think out of the box and recognize that we will need a Plan Marshall and a new way of planning the future!
Thanks for the update - very sad. Recently retired and watching your videos to learn about the real estate market there as we thought about buying waterfront there. After this, have figured out that it is too much for us and GA may be the way to go. Good luck.
It's best to retire in peace. Use your energy for keeping fit and making more memories; not boarding up and evacuating.
I hate to say it, and I know my comment will not be popular. But what is occurring in Florida and other southern states, is mostly man made. In the rush to make profits, developers have been allowed to build homes and businesses, in places that are not Suitable to build. The same thing is happening in parts of Texas, and other southern states. Houston Texas is another disaster waiting to happen during one of these hurricanes seasons. Communities are being built in low level areas that use to be swamps. And expensive homes are being built right along the beach areas of the Gulf of Mexico, that is known for yearly hurricane threats. How many times can you patch up a sinking ship, to only at the end,find yourself under water .
Who builds on a sand bar?, best thing to have in Florida is a houseboat.
After the flooding from Hurricane Debbie, I am seeing properties sold as-is. I am sure many are saying they are done living here.
That was just two months ago. I had to double check. Damn. 😢 So many storms this year.
Really has been crazy
There have been FIVE hurricanes hit the US THIS YEAR that did over a $BILLION DOLLARS. *BERYL. DEBBY. FRANCINE. HELENE. MILTON.*
In the list of COSTLIEST hurricane seasons ever 2024 is FOURTH ... so far. FOUR of the top FIVE have been in the last five years.
And STILL the REPUBLICANS DENY climate change. Because the oil majors and the auto companies (are THEY in FLORIDA?) want them to.
No reasonable insurance company should be providing services for houses on sandbanks.
Good seeing you. So sorry for everyone hit by all the storms. Wonder what the house with the roof tiles made out and where did they end up? More storms in understand.
The roof tiles all stayed on the roof surprisingly. We only got tropical storm winds here luckily
Thank goodness !!
This is so bad and so so sad. I can't even think of all this devastation. I thought was bad with Helene when I drove by, but this is insane....
Truly unbelievable. 🥺
Sarasota looks fine, just went out to dinner downtown Sat night, everything is open like nothing happened, we got lucky this time!! Lido & Siesta Key got sand and flooding from both storms, to be expected.
Another great video! Tomorrow will be the highest Tide of the year (king tide).
Most folks building on the coast of Florida don't even own the land...the State "allows" construction, but the actual land never leaves the State's hands. Stupidity on insurance companies part to have ever issued policies for these homes to begin with. Once they accept the money for said policies they should absolutely be held liable for the terms. Simply cease issuing these idiotic policies and you will see a dramatic decrease in building on the coast.
They can't dump the sand back on the beach because it's full of debris and broken glass.
There is a sifting process for beach repair, but, yeah!
General Contractors not available for repairs.
There is always a max payout if a home is total loss and that’s what the insurance will due minus deductible…. However if they don’t have flood insurance they won’t get much of anything sadly. The house in the street clearly a total loss
Thanks again Ben for the reporting!! Have been waiting to hear from you……
Thanks for your update.
You bet
I wouldn’t invest a dime on real estate that has a 0 water table and a history of hurricanes and devastation, much of Florida is sitting on landfill.
And yet these people acquire 30yr mortgages from banks and it’s the banks that get bailed out. The whole system is corrupted.
We had water off Midway over 8ft up. Was hitting the windows. Insane
That is wild. Glad you are ok!
What part of midway ?
@@Dreamit79 just past the traffic circle of edgewater and midway
no one should ever be living on barrier islands and this clearly illustrates why...
Hi Ben. You communicate very well.
Thank you
Disclosure of the home history should be a basic part of the sale.
Many homeowners in Florida have been dropped by major companies that have totally left the state. Many like myself are now covered by new fly by night companies that have little to no track record. A law was passed recently that lessened the right of the homeowners to sue insurance companies for unfair denial of coverage. That means that most insurance companies will deny coverage outright, no matter what you have. So getting payment, especially on multiple claims is going to be a tough battle. And that’s just regular homeowners insurance. Regular homeowners doesn’t cover flood water damage, an d may not even cover “wind driven rain” damage. Flood insurance may pay more, but very few people carry it. Many homes were flooded both here and western North Carolina that are not in flood zones so flood insurance wasn’t even thought of.
I wish I had sold my home 2 years ago at the height of the market. I am quite sure values will significantly come down after these multiple storms.
And mark my words, rich people with more money than sense will buy up these properties and build again and they can afford insurance, leaving the rest of us in the dust paying ridiculously high premiums for very little actual coverage.
Actually, a lot of those wealthy buyers do not get or have insurance. They are wealthy enough to just take the loss, like a lot of us would hate to drop an ice cream cone, or lose a dollar bill under the stands. It’s no fun, but it’s not devastating. An “oh well.”
The extreme price appreciation since 2014 was the warning you were being priced out of the market.
The jig is up for the West Coast of Florida!
I can think about 2 good lessons:
1) People should leave nature alone cause humans are not going to win. Stop trying.
2) Scale down the houses. People really don't need that much space to live. Perhaps to accommodate the ego, who knows...
I’m confused these folks knew they were in a hurricane prone area. It’s sad yes but it’s what they need to expect. That’s why I don’t understand why folks move to beach front areas.
The gulf coast actually had about a 20 year period with no storms or very few big ones. People don’t believe in climate change and don’t realize that this is our new normal. Neither Helene or Milton would have become anything other than a 1 or 2 if not for the crazy warm water in the gulf. Oil companies own our politicians so nothing has been done to stop this.
They can’t apply logic.
that Flood insurance law is amazing.
I would never move to Florida however I really feel for these people
I am 5 miles from the Gulf in the Venice area. My neighborhood/home did not flood or get damaged. I'm wondering if, in a perverse way, if home prices will increase for undamaged homes now that there will be a home shortage? There will always be people willing to pay the homeowners insurance or those who can self-insure. At one point, 75% of real estate transactions in Sarasota County were all-cash deals. I am thinking of selling and moving somewhere else. I am lucky to live up North in the summer, but am wondering if owning a home in Florida to enjoy the winter weather is worth it. There are few areas with warm weather in the winter where I would want to live. Those places have risks too.
i suggest yuma arizona or las cruces new mexico
Non flooded home may get a higher price than zero. But be real, no place in FL is immune from Hurricanes. It will happen to you too.
Where in the North do you stay in summer?
@@jibberjabber-fm6pbAZ has major water concerns.
Just rent.
I can only imagine how much property taxes will go up in 2025. As well as homeowners insurance. Feel so bad for Florida residents.
Crazy idea, maybe we should stop building by the coast
Its time for the rest of the Nation to get heavy handed with the whole Florida experience. The banks need to assign a negative credit code for their irresponsible decisions. The American tax payer shouldn't be on the hook for these Hurricanes. Good people in Nebraska and Kansas will need Our help in the future and deserve their turn at trough, for the sake of farming as opposed to sunbathing show-offs.
@Jimmyjackfruit i agree. We need to stop enabling people to live in flood and hurricane zones. The help we should give is to finance moving them somewhere more hospitable. We also shouldn't wait until it happens to do it. It's a waste of money to keep restoring these homes and businesses storm after storm. The help should be we will finance moving you somewhere safer or you are on your own. That's the philosophy of the insurance industry. They're not going to keep insuring these people when they know it's just a matter of time, and they will have to pay out. A lot of these homes still have claims on them from past storms. When the hell are we going to learn?
@@SCHVIN1nobody should be helping homeowners living here. It’s between them the bank and their insurer. Of course you are more than welcome to enable poor decisions with your wallet. There are kids with cancer @ St. Jude’s,if my money goes anywhere it’s going there not to bailout some fantasy lifestyle choice.
@@SCHVIN1 I agree 100% It's time to move people of there.
The laws are to make sure the common homeowner cannot sell on the market and has to sell to a multi million or billion dollar investment firm. This is how it’s been set up for years.
Hey Ben, love the show...long time watcher. I was wondering what your sources are saying about when Shorty's is going to open back up? Any help you could give us on that subject would be appreciated.
Once again, big fan of the show
Thanks Thomas! Apprrciate the support! I can't tell you how often I'm asked this question. It is a real concern for the people of SWFL. Unfortunately I have to defer to the experts on this one!
You don't buy, you rent.
Correct
@@stockey been doing that for 5 years now. Cheaper to rent and the dividends and interest from the home I sold up North pay for most of our expenses.
Exactly. I am a Floridian (Orlando). The only way I would live on the coast is if I was a renter. Then, I wouldn’t be responsible for the property if a Hurricane hit it.
I am not in real estate but I know that the cost of insurance will make all Florida Properties unaffordable because you can’t get a mortgage without insurance. I heard someone say they were quoted 90,000 a year for hurricane insurance and that wasn’t flood insurance. Yikes!
Keep in mind that many property/home buyers in FL now, pay cash. No mortgage needed, and no insurance either. They can absorb the loss.
As a Floridian, when the day comes (which could be soon), that we can no longer get or afford home insurance, is the day we leave.
I’m not starting from scratch in this economy.
The higher insurance/property taxes go the lower your home value goes.
Thanks Ben
You bet!
People with short memories and lots of money will help "Florida's Housing Market Survive."
Devastation is just part of living near the water in FL., pretending to be shocked by storm wreckage is almost laughable. TV weather could rerun hurricane videos from 50yrs ago instead of flying film crews into Florida to film the same-o same-o.
PS..I have a FL home 6 miles from the ocean at 30ft+- above sea level. Place is 50+ years old and still hanging on. Insurance in this wind zone is a joke, if it blows away I'll be moving farther north.
I see a lot of negative comments about living in the Detroit area but I would rather live here than Florida.
The winters are mild. House prices seem reasonable compared to the rest of the country according to some of the films I see. There are no major earthquakes, hurricanes or other extreme events.
Climate change impacts will render vast swathes of coastal Florida uninhabitable inside 10 years.
New sub from Melbourne Australia. Interesting to see what is happening there post Helene and Milton. Is it true that you can walk away from a mortgaged property, just hand it over to the bank - we can't do that here. The property would have to be sold and liability paid. If insufficient price realised then previous owner is still on the hook. I would think that corporations will come in and buy up at heavily reduced prices - correct me if I'm wrong. Very sad situation 😢
Not true.
@@carylhalfwassen8555what part isn't true???
It may be a good time to relook at new construction in your area that has NOT been affected by these storms. As an investor, proof that numerous storms have come through and any proposed property investments remain unscathed could help restore confidence (maybe falsely so)? I've been interested in the Venice area south for example. If there are any areas that have not been wiped out, I'd love to hear about them!
I work for a builder in Wellen Park. Only landscape damage, no flooding, electric was restored to most places in 24 to 36 hours of the storm. Venice Beach was open on Saturday when I was there. I was completely shocked of how well it did. The southern end of the island did not fare as well
Yes i went through Wellen. It faired extremely well.
Big corporate investors will take over those areas and price everyone out.
Potentially
Those on retirement are already priced out,whether they want to admit it or not. Wage laborers won’t be able to afford it,they could barely afford it before.
ONLY MILLIONAIRS WILL BE LEFT TO LIVE IN FLORIDA
What a genius remark! Not !!!
Heh…given the enormous destruction and expense of rebuilding, even millionaires will leave.
@@paulmcgraw9284 I better let my friends know that everyone's leaving Florida its news to me.
The ocean wants its life back.
People won't forget that florida gets hurricanes. They happen much more often now, insurance companies never forget and reporting laws force sellers to remind buyers.
You've got that right about insurance companies. They don't live on feelings and faith. They operate on facts and statistics. The facts are climate change is real and Florida is right in its crosshairs. Desantis can write as many laws as he wants that silence, government officials and prevent government planning for climate change. It will not change the fact that climate change is his states biggest economic threat. Not brown people. Not gay people. The climate. Enjoy the wind and water. There is more on the way.
I lived in SW Florida fir thirty-seven years. It is time to accept the fact that certain areas should NOT be rebuilt . That coastal areas and barrier islands are by Nature there to be planted , mangroves and protection for mainland areas. Common sense .....use sone common sense . There us no future where this improves .
Hurricane Donna 1960. Naples was little fishing village. Exploded with development after Donna. Fast forward....Hurricane Charlie, August13, 2004. I was there. Huge damage. Another explosion in development. Next, Hurricane Wilma, again development explodes. Look, theres Florida, and then there is Naples. No matter what it costs to live there, people will flock to the area. Loved my 24 years there.
I don’t get it, we’ve all been to Naples, you think Naples is better than the rest of Florida?
@@Brian_Cummings Drive around in old Naples. Go into Port Royal. Walk 5th Ave. Look at the landscaping in the medians. Take an alley tour of old Naples. Yes, I think it is a very unique place in Florida. Lived there for 24 years.
@@johnharper2016 the whole state looks like that, much better places than Naples in FL
@@Brian_Cummings Your entitled to your opinion. Do you live in Florida? As a result of my employment while living in Naples I traveled the State extensively. As a result I will stick to my opinion of Naples being one of the premier places to reside. Thanks for the feedback.
@@johnharper2016 to each there own, I live in Sarasota and have been all over Florida, Naples is the last place I’d want to live, it’s the most boring, pretentious and bland place in Florida.
The real problem everyone is missing is that the average global temperature rise is accelerating and the extreme weather events are going to get alot worse
The global CO2 levels are 423ppm and climbing which affects the average global temperature rise
Tic toc
@ricksmall5240 shhhhhhhhh! Quiet down! Don't you know DeathSantis signed a law a few weeks ago that prohibits state and local agencies from mentioning climate change and from strategizing and planning its mitigation?
4 foot of sand covering the whole coast of Florida, 5 tornadoes at the same time. No one is questioning all these first time ever events and how it formed off the coast of Mexico and not Africa, it developed in to a CAT 5 in a couple of hours? Come on really?!