I just sold my house... didn't want to let go of it, as a disabled Veteran but had to let it go...I couldn't afford it anymore. Florida legislature needs to do their jobs.... instead of concentrating on taking peoples rights away. Shameful.

@neilkurzman4907

7 күн бұрын

What’s happening in Florida is because of decades of bad decisions by the Florida government. They can’t fix it quickly. It could take a decade or more for everything to settle down.

Most people, even those who work, are on a "fixed income." I never understood that phrase.

@sollymaykorn

4 ай бұрын

Retirees are on a fixed income from their 401k/social security. The ones who work referred to people who earn a fixed income

@michaelhale442

4 ай бұрын

Another high school clown 😂😂😂

@TomokoAbe_

4 ай бұрын

@@sollymaykorn When you live off of Social Security there is no overtime pay. What you see is what you get!

@bobroberts2217

4 ай бұрын

Guess what? Workers today are also on a fixed income. No ones getting raises.

@anniesshenanigans3815

4 ай бұрын

just a term used for people that no longer work. or never worked. Or refuse to work. LOL. I agree a dumb term.

You cant have a mortgage when retired. You are already living above your means, then you get property tax or hoa increase and you’re done

@ktg8030

4 ай бұрын

Agree

@nunya2954

4 ай бұрын

You are correct, however, if they really want to stay in that condo, she did look like she could work some part time. It;s hard to guess her age. She looks in her mid 60s to me.

@cathietonkin5577

4 ай бұрын

Exactly!!!!

@desmondjefferson2127

4 ай бұрын

Hey, they voted with Ron... this problem sounds WOKE to me. So let RON fix the woke, I'll wait!! LMAO 😂🤣😂🤣

@user-kk3qg5el1m

4 ай бұрын

@@nunya2954it’s cheaper to stay where you are and buy a camper and come in the winter.

It’s over in Florida. I wouldn’t touch a property down here. Millionaires will take over along with the Govt. Next year when the new condo laws go into effect, you won’t be able to give a condo away.

@user-oe5ey3ex8b

4 ай бұрын

All part of the globalist plan of "you will own nothing and be happy" as George Soros puts it. They can't get people out of their 3% mortgages so they are hiking taxes and insurance to push people out.

@feldy1717

4 ай бұрын

Meanwhile all new luxury condo buildings with starting prices at 2 million are selling out before they are even finished being built😂 and cant build them fast enough - bentley / aston martin / waldorf / e11ven residences the list goes on and on

@tringuyen7519

4 ай бұрын

@@feldy1717Non-seaside condos are still very expensive like those along Bayshore blvd. But seaside condos prices will continue to drop.

@balzoemg8415

4 ай бұрын

@MichaelBrown-ny3et What are the new condo laws?

@Ireland-bc2gx

4 ай бұрын

White elephants for sale .50 on the dollar

My first piece of realestate was a condo...f**k that. Never again. I had it for 15 months and moved out and sold it. I will never live anywhere tha thas an HOA. And you dont actually OWN the condo..u own a percentage of the condo association....never again. Itsbasically an apartment because u have a "landlord" and have rules to follow and meetings to attend..too much of a hassle. Never again.

@user-oe5ey3ex8b

4 ай бұрын

Most people don't have a problem following basic social rules but then there are people meant for the woods.

@markherring3513

4 ай бұрын

@@user-oe5ey3ex8b And then there are people that dont mind being told what to do with their "home" and having someone control their everyday life in their "home". You can be a sheep..not me.

@jt-wh9gy

4 ай бұрын

That's a little extreme don't you think?​@user-oe5ey3ex8b

@user-oe5ey3ex8b

4 ай бұрын

@@markherring3513 We're talking about condos here where the exterior of "your home" is maintained by a common manager. One less thing to worry about. Older retirees don't want to or can't deal with maintenance thus condos are the perfect solution and you calling them all sheep for wanting to enjoy their latter years shows you to be lacking empathy.

@markherring3513

4 ай бұрын

@@user-oe5ey3ex8b And have someone else dictate what you can and cant do in or around your own home. I stand by my comment. HOA's are bull$hit..they control your life aspecially when run by soccer moms that have never been in charge of anything in their entire life and now have power over someone or something. Play along or else.

Why in the world would you have a mortgage in retirement? You're not retired, you're just not working.

@anniesshenanigans3815

4 ай бұрын

yea it makes no sense to go to Florida to 'retire' and get a mortgage. Personally I would never live in a condo because of the issues they raise here, but to have a mortgage is a never ending loop of debt. Because the Mortgage company ALSO requires certain types of insurance that you would not have to have otherwise.

@judithrees6919

4 ай бұрын

If you live in an HOA, you have a "mortgage " for life, even if your unit is paid off. Same with a trailer. Rents near me are now over $1000 a month...another "mortgage " fee for life. Home insurance for some is now an additional $800 a month or more. Another "mortgage " for life. This was totally unforseen and no easy way to budget those hits. Having a mortgage in Florida is the least of my issues living here.

@donaldkasper8346

4 ай бұрын

Mortgage or rent, you still pay. Difference is you gain asset value owning. You cannot borrow against your rental. Rental rates go up with inflation, your mortgage does not.

@johnross6763

4 ай бұрын

It’s because people took out mortgages at 2-3% a few years ago rather than pay cash because they could invest the money and make a higher percentage. Plus the property value was increasing much more than the 2-3% you were paying in interest. Smart then, as long as you were somewhat prepared for what is happening now.

@donaldkasper8346

4 ай бұрын

@@johnross6763 No one can pay cash for a home except the Cartel and a few super rich. We sit on a 3.25% loan I believe it is, and simply cannot move even if we were interested.

Stay away folks , I just sold my Condo after owning it for 12 yrs. Never again....What a horrible investment and way of life.....I repeat , Never again.

@MR..181

4 ай бұрын

Ditto 45 years...looter busybody rule writers in your pocket .."help"...making bad investments and lifestyle...

@ipenguin3918

4 ай бұрын

Florida is a SCAM.

@ktg8030

4 ай бұрын

Why? Besides the reserve fund issue what other problems are there?

@nukezat

4 ай бұрын

@@ktg8030crooked HOAS and management companies, shoddy contractors, and the reserves law will jack up fees between 20% and 50%

@acress456

4 ай бұрын

Speak for yourself. Just say you didn't do your due diligence when buying the condo.

Know how many investment firms buy condos? None. Zero. Nada. For a very specific reason. You'll never get your money back out of it. You'll lose. HOA homes are also a terrible investment. Single family homes on land not compromised by an HOA is the ONLY sound real estate investment in Florida and most other places.

@bansheezs

4 ай бұрын

I think places with minimal HOAs are the best. They are cheap and just make sure people don't have trash in their front yards.

@jimk8520

4 ай бұрын

@@bansheezsYeah but you can’t bank on that staying true - that was his point.

@edwardrhoads7283

4 ай бұрын

Yeah a lot of time just the condo fee would be half the rent you would get. There is absolutely no cap from Condos. Can get a single family home usually for less than a condo and not pay those crazy $400-$1000 a month condo fees. It is like you never buy the condo you pay for the right to rent it...

@5daysofcoffee

4 ай бұрын

Maybe that’s true for Florida, but in just a few years I’ve added 100k in equity and my condo fees are $300 for insurance, water, gym, club house, lawn care, snow removal, and exterior maintenance. I had some coworker complain about condos to me and said he’ll just start paying for snow removal himself which is more than my fees are. You get a great value with economies of scale.

@Aaron_R

4 ай бұрын

Lots of people buy condos and become landlords/rent them out. My Dad rented one for about 10 years. She was a bad landlord though and never fixed anything. I lived in PGA national in Palm Beach Gardens FL. I'm not sure about investment firms though, most people renting condo's in my development didn't go through an investment firm.

If you have a mortgage still, you are not fully retired.

@comeon_man

4 ай бұрын

Or if you pay property taxes The governments will increase the rates and or regulations. They’ll get their cut again and again

@useyournoodle100

4 ай бұрын

How could it have gone up $1000 per payment? Even with the rise in interest rates, they must have a massive mortgage.

@debbieframpton3857

4 ай бұрын

I would never retire with a mortgage

@tqlla

4 ай бұрын

@@useyournoodle100 insurance and condo fees

@leok7193

4 ай бұрын

​@@useyournoodle100 mortgage payment consists of principal and interest which doesn't go up, unless it's adjustable. Let's assume it's not, then it also includes property taxes and insurance, taxes increase a bit, but it's the insurance spiking in Florida, but it shouldn't be that much for the condo. She probably meant whole payment went up, which would make sense if she included HOA with the amount

HOA fees cover the same costs that you would have if you owned a free standing property (property tax on shared property, insurance, water, sewage, maintenance, grounds , amenities and repairs. Old poorly maintained and poorly run buildings, with condos sold at inflated prices are the problem

@lonniehubbard2302

3 ай бұрын

HOAs are the problem...folks pay in and get little to no return...they're a sham...

@drc3po

Ай бұрын

Nope. I own a private residence and I'm actually in control of how much I spend on maintenance, etc. I usually find dirt cheap workarounds and don't spend a fraction of what a condo owner spends on HOA and special assessments.

Who could have known living near salt water, in a hurricane zone with years of poor maintenance would cause insurance to skyrocket and property prices to crash?

@michaelhale442

4 ай бұрын

Another know-it-all 😂😂😂😂

@BM_100

4 ай бұрын

NYC and New England gets snow storms that collapse roofs. Maybe you should tell them to go somewhere else yoo

@jasonjason5325

2 ай бұрын

Agreed 👍

These are all high rise condos with deferred maintenance that are poorly managed and sold for crazy inflated prices. Not all properties or HOAs are the same

@tofuyam7361

4 ай бұрын

That is the case for most condo targeted for average people. They make the condo fees affordable like 300-600 for the first 10-20 years. But obviously that isn't going be enough to maintain the structure, elevators, etc in the long run

“If the American people allow private banks to control the issue of money, first by inflation, and then by deflation, the banks and corporations that grow up around them will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” - Thomas Jefferson.

@nunya2954

4 ай бұрын

Federal Reserve needs to be DISBANDED, But we have YET to have a President with the brass BALLZ TO MAKE IT HAPPEN. People may not like Putin, but the Russian people are VERY LUCKY HE WILL NOT ALLOW WEF, NOR FEDERAL RESERVE INTO NOR DICTATED TO THEM. PUTIN is keeping Russia a TRULY SOVEREIGN NATION.

@desmondjefferson2127

4 ай бұрын

Boomers didn't care about that, till now😂🤣🤣

@leeann5442

2 ай бұрын

@@desmondjefferson2127 Dont put it on us Boomers, because if Thomas Jefferson said it, then clearly it was attempted before, but this society is so damn soft now ... all affected Floridians need to ban together, because the woman who spoke in the video was correct, it was HER GENERATION that made Florida great

She was better off staying in Pennsylvania.

@GonzoT38

4 ай бұрын

In all honesty, that's usually what happens to them anyways. Healthcare needs or living costs put enough pressure to retreat back to some sort of support structure back home or closer to the kids, latter who defitiinally cannot afford to live in Florida due to the poor career prospects for skilled labor, as a median. Others do the half backer thing, and full up the piedmont area (east TN , SC, NC). But the Carolinas and TN metro are no longer cheap compared to the northeast, and the coastline north of JAX are too frigid in the winters, so many just go inland or go back home. The underfunded issues of Florida real estate and inflation of the last 4 years is just accelerating the pace of that gentrification.

@marknewton6984

4 ай бұрын

So were we...

@user-kk3qg5el1m

4 ай бұрын

I agree! It’s better to just snowbird in the winter.

@marknewton6984

4 ай бұрын

Snow.

@user-kk3qg5el1m

4 ай бұрын

@@marknewton6984 That’s why most people have always snowbird, they come in winter months and leave around April. A lot of them invest in campers , you can also rent a ABNB for those months

They are asking to much for the condo's.

@bumblebay9559

4 ай бұрын

2025 they will be dumping 100’s. New condo law kicks in. Condo boards mismanagement of $$$$.

@b_uppy

4 ай бұрын

They're asking too much for everything...

Sea level rise, hurricanes, terrible construction quality and insurance providers shockingly undercapitalized. A recipe for financial disaster. Vacation in Florida but don't buy real estate there.

@user-oe5ey3ex8b

4 ай бұрын

Sea level rise? Stop drinking the climate change kool-aid.

@123Rockchild

4 ай бұрын

True. Visit…but don’t own.

@user-oe5ey3ex8b

4 ай бұрын

Sea level rise? Really? stop drinking the climate change kool-aid

@desmondjefferson2127

4 ай бұрын

ALL of those problems were the ones Boomers ignored as they kept voting GOP. WELL, this is the GOP America they wanted, now they have it and they're mad🤣😂🤣

@uis00sn

4 ай бұрын

Ya, Obama fixed everything, right?! You are an UTERLY ignorant person@@desmondjefferson2127

Why do people think HOA and insurance are stagnate ?

Condos are a money pit

@joemancurreri6635

4 ай бұрын

Never seen so many uneducated posts as this site. Most of you must be old - cheap, crabby people from NY and NJ. So used to living on the cheap.. Want free stuff, FYI: the HOA is protecting your investment. If you can't afford it - sell. move to section 8 housing, or move back to NY. the condos that are in trouble across the nation are due to the OWNERS of the condos, NOT approving needed repairs! Condo's like a home must be maintained! Here in Florida most of the high rise condos are within 3000 ft. from the Ocean. These OWNERS want to be near the beach.. but don't want to maintain the buildings. We live in NE Florida on the ocean. Our HOA fee is high. Our building is beautiful. We want it maintained.. Florida inspections found no issues. Most of the people posting here should move and let people that care about their environment take over.

@jasonjason5325

2 ай бұрын

What a disaster they can't even sell

@dbloyd2

7 күн бұрын

Agree. Even a timeshare is a better investment.

Well you're living in Hurricane Alley and salty ocean air is death to concrete structures. OF COURSE maintenance and repair costs on old high-rise buildings in going to be insane.

Condo owners are paying insurance twice ! HOA and special assessment are higher and higher and no ending !

@MR..181

4 ай бұрын

No sale..

What’s paradise? Falling condo buildings, rising sea levels, hurricanes, alligators waiting for you in every pond, and worst of all - Trumpers! 😂

@nancydominguez6967

4 ай бұрын

how unfortunate for you

@marknewton6984

4 ай бұрын

But no snow...

@robd7934

4 ай бұрын

Got that right. Florida is one big dumpster fire. Left last year and won’t be back

It looks like condos and their real maintenance costs were undervalued for a while.

@ivanrodriguez268

4 ай бұрын

nah this is the result of an inflation that is undervalued

@francismarion6400

4 ай бұрын

@ivanrodriguez268 Even before the lockdowns these condo sales were way up and obviously the true cost didn't reflect all the maintenance that was being deferred. Now we are finally getting a clear picture as to what this cost really is.

@b_uppy

4 ай бұрын

Housing has been overvalued and bring manipulated by the mega corporate conglomerates. They have a monopoly on life itself, and must be broken up.

@desmondjefferson2127

4 ай бұрын

That's a WOKE BOOMER PROBLEM!! NONE OF THE REST SHOULD CARE😂🤣😂🤣

@b_uppy

4 ай бұрын

@@desmondjefferson2127 Woke and boomer? That's a phrase not often heard, got anything else?

If your mortgage has gone up 1000%, you aren't fixed interest rate but adjustable mortgage rate

@michaelhale442

4 ай бұрын

The lady they interviewed said they bought 4 years ago and her mortgage payments keep going up a fixed was 3.5% 4 years ago. Most old people are just stupid. I’m 80 years old.

@NomadChristian

4 ай бұрын

Most pay tax and insurance in escrow through their monthly payments. Your payment is never fixed even with a fixed interest rate.

@kjaxin1

4 ай бұрын

She said the mortgage went up 1000$ not % because of the insurance and HOA (escrow)

This has been one of the most predictable things in the world. I feel no sympathy for people caught pants down. People ignored everything hoping for a miracle to keep costs down, well that was stupid bet. Deal with it.

@desmondjefferson2127

4 ай бұрын

These Trumpers are SHOCKED by your comment (clutching pearls) 😂🤣😂

People need to due due diligence. Avoid HOA properties at all cost!!

@davidbenning10

4 ай бұрын

@@Acronym6197Ok, James. 👌

@hardren101

4 ай бұрын

Your statement is w/o merit, HOA fees, Common charges (CC) are standard and, due diligence, is not in accord as the fees are standard with condos. The fees are used for up keep of the property (Renovations, repairs overall up keep of the property, if the building becomes dated, the value of your investment is impacted)... The owner can request respective financial records from the board to see how the monies are being spent (many will tell you it's to your advantage to become a board member)...

@davidbenning10

4 ай бұрын

⁠@@hardren101Are you a board member?

@cgschow1971

4 ай бұрын

​@@Acronym6197The value of my non-HOA property is sky high. I ain't worried. A non-HOA property is a serious selling point in my area, especially since most HOA's are now run by corrupt, often out of state, property management companies.

@GEN_X_

4 ай бұрын

HOA is Trash and so are the people on HOA Boards@@Acronym6197

Apartment owners are paying higher insurance rates which will increase rent prices

@ArthurDentZaphodBeeb

4 ай бұрын

Nope, rents have been falling faster than insurance for over a year across the US.

They’re all over priced ‼️‼️‼️‼️

HOAs are not to blame. Insurance companies are not to blame. Condo owners who continually defer and ignore maintenance on these properties will always experience declining values and even worse. Insurance companies are merely refusing to accept the risks associated with sub-par properties with deferred maintenance. These conditions in Florida, and elsewhere, are the result of owner's neglect and and decades of refusing to properly fund their building maintenance requirements. It is the same result with a single family home whose owner has refused to perform needed maintenance on their home. The market will "adjust" that property valuation accordingly. The only difference here is that with a condo, it is group ignorance to the needs of the building, and refusal to raise, as necessary, the HOA dues to properly maintain their building. It has now caught-up with them. Very sad.

@desmondjefferson2127

4 ай бұрын

Exactly!! Boomers did this to themselves over DECADES of ignoring problems. But now those problem are theirs and theirs alone, other generations don't care, WE CAN'T LIVE IN THIS PLACES... So🤷‍♂️🤷‍♂️🤷‍♂️🤷‍♂️

It’s the increased Taxes and insurance. That are causing the flight from condos.

@SeattlePioneer

3 ай бұрын

Don't forget all the neglected maintenance over the decades which has to be repaired.

Ever since the Reserve Law has been state encoded and fine enforced, now we cannot pass the buck on repair costs anymore. It is the current homeowners who are paying for the sins of the past. In economic terms, the 'home value' will go down, as the cost increases, to keep economic balance. This has just started, 3 years to full 100% reserves. Very likely that until the reserve is fully funded, new buyers will be hesitant to pick up the cost.

@user-oe5ey3ex8b

4 ай бұрын

You nailed it. I own rental properties mainly 2/2 condos and the first thing I investigate when buying is the fiscal health of the association and if their reserves are fully funded. If they weren't funded then I would do the math to see what my portion would be the deduct that from my offer amount. The community is more important that the condo as I usually rebuild the condo when I buy it anyway.

@paulbonaventura4969

4 ай бұрын

@@user-oe5ey3ex8b I recall most mortgage companies also wouldn't offer a mortgage if condo or hoa's if they didn't have any sort of reserves, or at least a 50% reserve.

@TVHouseHistorian

4 ай бұрын

I’m going through that right now. Our dues have shot up substantially since the original developer (a CPA by trade) sold off and moved out of the community. Current homeowners are now saddled with $70k in deferred maintenance costs, and a reserve fund that sits at a paltry 4% funding balance. Would love to sue my realtor. He never made one single mention of reserves during the entire transaction.

@paulbonaventura4969

4 ай бұрын

@@TVHouseHistorian Maybe you can? Maybe sue the Title company too if possible.

@judithrees6919

4 ай бұрын

Is it on the realtor to tell you or the seller in his disclosure statement? Uncertain. ​

Insurance should be paid by the Bankers who actually hold the note on these properties. We are already Paying the Taxes, HOA fees' and Interest on those Loans/Mortgages. Why are the banks not self insuring these Loans/Mortgages since we don't own these Condos flat out.

@noahcdmx1985

4 ай бұрын

Because the people with the mortgage that live in the unit have all of the benefits of ownership

@ELEVOPR

4 ай бұрын

@@noahcdmx1985 Benefit and real ownership are two different things. Title owner and Lienholder is the bank. Push comes to shove the bank owns it.

@noahcdmx1985

4 ай бұрын

There's no "push comes to shove". If the mortgage holder makes the payments and avoids foreclosure they retain both the costs and benefits of ownership. If necessary the bank forecloses they assume both. Owning a home on low lying coastal land in a storm prone area with rising sea levels is just an increasingly bad investment. Mortgages in general are great for homeowners.

@ELEVOPR

4 ай бұрын

@@noahcdmx1985 I would never buy beach front property or rent it. It would be fair for banks to share the burden of home insurance.

My coop had, and still does in comparison, a very low maintenance fee. When the pandemic started the board made the bad decision of not refinancing the buildings mortgage and then did not raise the maintenance for two years so that the building could maintain the steady 2 percent annual increase. We are now having to experience the shock of things going up at once to account for what wasn't collected those years.

Condo prices are falling BECAUSE of insurance and HOA fees.

@JustDItY

3 ай бұрын

Yea, the title makes it seem like they don't understand. I watched the video just to see if they really were that stupid.

Florida is an ideal place to live *IF* you are wealthy. Otherwise the homeowner's, health, and auto insurances will skewer you--all your savings for your "old age" will be spent for upkeep of insurances. This does not include property taxes which are also on the rise.

@mrxman581

4 ай бұрын

Retirees made Florida what it is.

@stephaniejoy3334

4 ай бұрын

Got that right...I lived in s. Florida from 1971 till 2003. Not the same place whatsoever. Ocean temperatures are already 3 months ahead of schedule...perfect for hurricane intensity. I wouldn't go back if it was free.

@PeterHernandez-lg2eh

4 ай бұрын

We were planning on moving to Florida then grandkids came into the picture I guess we'll die here..

@ivanrodriguez268

4 ай бұрын

unless you are illegal or on gov assistance

@user-kk3qg5el1m

4 ай бұрын

@@PeterHernandez-lg2ehyou can always snowbird no need to uproot your entire life. I see people retire here and when they are older the kids just have to come move them back up north.

Board members selling at Crooked Creek in Sarasota. Time to unload for anything you can get.

But I thought FL was a low cost tax state with ZERO income tax? What happened?

@judithrees6919

4 ай бұрын

Taxes are low. It is all the so called "special fees" that get you.

What’s Ronnie doing about this? - Nothing!

Deferred maintenance. Denial and fixed incomes = a reality check no one wants to pay - and likely feel someone else should enable this behavior.

Yep, unloading mine in Miami and luckily its under contract. But had to dock 20k off the price. Wait until they implement mandatory reserves, it will be a fill on crash

@nunya2954

4 ай бұрын

Better to knock of 29 now, than never be able to off load it unless you gave it away.

Owned a condo by the beach in south Florida for 5 years, by the time we sold it our insurance for “walls in” was $2,500 a year. We bought a single family house in central Florida and full coverage is $1,900 a year, roof included. Please tell me how that makes sense.

@marknewton6984

4 ай бұрын

Makes sense!

Call your governor and state officials

Living on the beach has consequences... Many of those condos weren't there. Not that long ago, we had access to those beaches. Not anymore since those hideous condos were built. So I don't shed a tear for them. You can always move back from where you came from.

@nunya2954

4 ай бұрын

Me either. It's ridulcous.

The Carolina beaches will get overrun next. I'm 37 and left florida, its so much easier not living in a place with millions of retirees.

@lisa9867

4 ай бұрын

You're not getting younger & in 20 years you'll be retired or soon to be retired. Are you going to get away from yourself? 🤣

@Bradimoose

4 ай бұрын

I'll enjoy 30 years of traffic that moves faster than 30 mph@@lisa9867

@nunya2954

4 ай бұрын

It's already happening, and they are also going to be facing Condo's or Hotels giving way.

@debra2700

4 ай бұрын

We bought in Raleigh NC. We can drive a few hours to the beach without the worry about high fees and hurricanes for the most part and years ago, the insurance laws were changed so that the whole state didn't have to subsidize the homeowner's insurance of the people who owned expensive homes on stilts right on the ocean but yelled at people for walking on "their" beach in front of "their" beach house.

HOA's should be outlawed. Once you OWN something, nobody should get to tell you how to keep it. Personally. I would not move anywhere with HOA.

@tofuyam7361

4 ай бұрын

How do you think the maintenance is paid for in a high rise condo? lol

@Gtfobcso2024

4 ай бұрын

@@tofuyam7361 I don't care. That cost should be included in the purchase and taxes. Not all cndos are high rise and high rise condos are stupid and suck to live in anyway.

@tofuyam7361

4 ай бұрын

@@Gtfobcso2024 You have a hard time living in reality?

@Gtfobcso2024

4 ай бұрын

@@tofuyam7361 no, I am sick of fascist greedy mentally ill entiltled adult brats who lack empathy. Narcissicm IS A CHOICE for humans who never moved past their terrible two's.

@tofuyam7361

4 ай бұрын

@@peterboon8280 That HIGH RISE is next to the ocean in cat5 zone lol. How much do you think is building insurance there? If its a old building, how much do you think is it for new elevators, roof, wall repair, structual repairs? Likely "luxury" so it may have a on property staff. 800-1000$ hoa is pretty common for older high rises in major cities

Meanwhile new single family homes in Florida have increased in price the past year and the market for them is very active. This is a condo issue. I'm not ignoring that insurance cost for homes in flood prone areas or older homes with old roofs have increased a lot. If you choose the right area and make sure the home you're considering is up to code and not in a flood zone your insurance doesn't have to be ridiculous. I just bought a brand new 1500 sq ft home in NE Florida 20 minutes drive from the beach, but not in a flood zone. My insurance for full coverage with a $1,000 deductible is $820 a year. Oh, and car insurance for a 2023 compact crossover is $665 every six months. If you're considering Florida do your homework. Buy the right kind of home, in the right location and in the right community.

@ArthurDentZaphodBeeb

4 ай бұрын

Do yourself a favor and raise your deductible - you'll save a lot in premiums every year. Insurance should be for catastrophic losses, not nickel and dime losses.

@NomadChristian

4 ай бұрын

Insurance agent here, you are getting a discount for the age of your home. Every year the discount will decrease until it becomes a surcharge. Your plan won’t work for long term ownership.

@jeffmorse645

4 ай бұрын

@@NomadChristian I'll ride that horse as long as it lasts.

I fist visited Florida in 1992. Everything was affordable. Homes, apartments, even driving through Kissimmee area signs for dining out was cheap. You can eat out instead of cooking your own food. And they had lots of seafood buffet with lobster, shrimps, and more.

@kimmberrleeohthatsme5493

4 ай бұрын

Sadly a bygone era...

@user-kk3qg5el1m

4 ай бұрын

Too many people flocking here at once has caused everything to go downhill.

Well boomers I will give you the same advice you have been giving the younger generations. Make your coffee at home and lay off the avacado and toast.

@INTERNETVID

4 ай бұрын

Well younger generations I will give you some advice as well. Pay your own student loan obligations like the boomers had to do.

@123Rockchild

4 ай бұрын

@@INTERNETVIDThank you. Too many freeloaders in this country!

@INTERNETVID

4 ай бұрын

@@123Rockchild Agreed!

If you “own” a condo or a house in an HOA you are fooling yourself. You don’t own anything. They can find multiple ways to price you out.

rent your condo out in the winter and travel. This will pay your bills.

@anniesshenanigans3815

4 ай бұрын

actually it's better to rent it out in Summer when it's boiling hot in Florida. That is why we have the snowbirds come here from November to April.

@rudyjean5550

4 ай бұрын

The ironic thing is that their HOA probably doesn't allow short term rentals.

@oscalsochirino8706

4 ай бұрын

Hoa won’t let em lol

@jansmith3158

4 ай бұрын

@@oscalsochirino8706 most HOA's in florida allow 1 wk, 2 wk or 1 month rental.if not take over your board and change the rule.

@jansmith3158

4 ай бұрын

@@anniesshenanigans3815 winter is the best season to rent you will get 3-5 times more money in winter then summer. Most condos in florida on the beach will rent $5000-$8000 per month. That way the rest of the year you have the condo for yourself.

so, living in paradise on the cheap - pretending someone else is paying for it finally caught up. yes, living near the water is very expensive..

Not just Florida... Same thing is happening in Atlanta. I just sold mine for the same reason. The HOA assessments are never going back down.

why would you have a Morgage on it if you're you're retired ?

Not only in FL....is happening also in other states. We live in NH and is going up up up!

I've never even visited Florida but dreamed of that day, or to move there. It looks so beautiful. So what are these homeowners going to do? If they can't pay the two insurances, they're private and for the condo association?? Will they lose their investment and walk away? What a horrible situation to be in. Who can afford to buy a condo walking in fees such as this and knowing they will still probably go up?

@user-kk3qg5el1m

4 ай бұрын

The problem is everyone thinks they have to move here, what ever happened to visiting and leaving. Now they have ruined a great vacation state.

@SeattlePioneer

3 ай бұрын

That's what happens when you make a poor investment.

Glorified apartment

The title is not correct. The fees do not 'offset' the prices. Lower prices means that the seller loses a lot... so that isn't really an 'offset' for them.

Freeloading of the taxpayers and the insurance holders in other areas is over! Schadenfreude! 😁

Florida is a messy situation for anyone in a fixed income! It’s impossible to live in Florida on a fixed income.

Sell it and move to cheaper states

@moltenpros

4 ай бұрын

Thank you Sherlock for that brilliant idea.

@marknewton6984

4 ай бұрын

No way.

@CaliforniaMISC

4 ай бұрын

@@marknewton6984 then pay for it or move to cheaper state

I brought my home in 2017 and I was looking at a condo before the house. I’m still thankful to this day for having the Broker talk me out of the condo. I guess apartment buildings are next after condos

All by design

@desmondjefferson2127

4 ай бұрын

A design they voted for

Maybe these people need to get with regulations on these corporations ..

Owning any kind of property with a dwelling on it has always been a money pit.

Not just Florida

They put off the maintenance. Didn't work. No one wants to move on a condo until 2025.

You couldn’t give me a condo nor a home! Florida is ‘unaffordable’!!!! With my insurance 3 times what it was, electricity has doubled, affordable mobile home parks increasing the monthly lot rent going up every single year, this year it went up over $3,000.! We will ‘try’ to stay as we love it here but it feels as if we are slowly running out of money! Food has easily double!

Florida real estate market is in for big crash as insurance will continue to skyrocket along with climate change and flooding. Hopefully the federal government doesn’t force taxpayers to subsidize their market

@user-cu7qz6fy7z

4 ай бұрын

Ah, the climate change hoax makes another appearance to justify the rising costs. They been waving that ecology climate change bull for decades.

That is what happens with older condos, especially those with a lot of amenities. As the building ages more upkeep and maintenance is required. Therefore, the monthly fees increase to pay for it all. At some point they will become so high that sellers need to lower their price to offset the high fees. Best to buy a new condo then sell when the fee starts to increase or buy a condo old/new with few amenities.

@pclubnetwork

4 ай бұрын

They won't talk about how the let the association year after year not update anything

@SeattlePioneer

3 ай бұрын

> Actually, if a condo is well managed, people will be charged for the FUTURE costs of replacing roofs and such. Those higher assessments will be placed in reserve(savings) accounts to be used when the maintenance needs to be performed, even if that is decades away. When a condo is NEW, the roof is still being used and is wearing out, and condo owners are properly charged for those costs. That way when the repair needs to be made, the money is in hand and can be paid for from the reserves. No special assessment is needed.

My HOA fees in my condo is $5k a month on addition to my mortgage. These ridiculous fees are just killing the condo market. No one wants to buy when the association fees are that high.

Condos have the master policy which is included in the dues and covers the structure from the walls inward then there's typically an HO6 "studs out" policy that covers everything outside the walls such as cabinets, appliances, flooring, etc. If you don't have a mortgage then you can choose to "go bare" on the HO6 policy and pay out of pocket for the interior if it's damaged. You can also get a renters policy for your personal property.

Yeah my hoa is 925/month. Yeah it includes water/cable and internet but 10 yrs ago when I bought it same things we lee included my HOA is now more than my mortgage

Condos are great, but the issue is the relentless assault of weather and salty sea next door. It is a paradise, but these owners are looking at it one way. If you remove the weather issue and built something that can withstand wear and tear payment won’t raise drastically.

@Eyeris625

4 ай бұрын

you always need reserves... even if you own a house you need to have a home emergency fund.

It’s not the HOA’s faults it’s the state regulating the depository funds for future costs like roofing, painting, etc etc , the other fees are normal maintenance costs and repairs plus the worst , insurance!!! Normal boards do not receive compensation at all and we get the same costs as everyone else

@ArthurDentZaphodBeeb

4 ай бұрын

The State is mandating what HOAs should have been doing all along. Not being 100% funded is insanely irresponsible.

this is the tip of the iceburg with whats wrong with Florida but you get what you ask for

self insure, avoid HOAs

@mrxman581

4 ай бұрын

HOAs deal with the common areas of the property. It is self insurance paid by all the owners.

What is our Fearless Leader Governor doing about this!

@scott331

4 ай бұрын

Ha, he created this! Thee Most Awkward, Bobble Head Ron 😂😂

@mab4858

4 ай бұрын

@@scott331he did? How so explain

@mab4858

4 ай бұрын

@jetjan really, explain how they are paying him off, I assume you can back that claim up with facts right

@rolandthethompsongunner64

4 ай бұрын

He’s a lawyer doesn’t care.

@Ambience88

4 ай бұрын

This is happening all over the country I had no idea he was our president@@scott331

Question: Who is going to buy it??

Same in California. The cost of manpower (services) to repair is over the top then add the lawsuits.

Seriously? We all saw this coming years ago. Why would anyone concerned about living costs move into Florida as climate change hits the state hard and insurers getting pushed out? I’m so glad I sold out of there in 2017.

It sucks for condos owners but put the price down if you want to sell.

I’m so sad. I live in condo and my HOA is going up. Don’t not where to go. Sad from a Caribbean soul😢

I am praying for these poor people!

that was super cool, pointing to a door with nothing on it, and magically graphics appeared. Amazing creativity!

It's not a question of if its going to whiped out by a hurricane but when so insurance should be high

I think this is happening mostly on those close the the ocean

Solution: request the state legislature to pass Florida’s first income tax of about 4% on incomes greater than $250,000. Use the money to address rising insurance rates and address old building maintenance issues. This should help seniors living on a fixed income.

no one in there right mind wants an HOA. Dont ever hear people saying "man I would love some more rules". lol

@user-oe5ey3ex8b

4 ай бұрын

You can't have attached housing units without a common ruling body like an HOA/COA. Are you suggesting that we tear down all condos? Great idea.

@ivanrodriguez268

4 ай бұрын

I like HOAs, but it depends. I live in an HOA neighborhood and I love it. Well maintained, nice trees that no one is wanting to cut down because they are too lazy to sweep leaves, and clean! No ghetto. Love it. It's not that expensive a month either. But it's run by nice people.

@SeattlePioneer

3 ай бұрын

I had a lot in a subdivision that was set up for a HOA, but the HOA was never organized. NO HOA FEES! That's what you want, right? Well, the grass in the common areas was never mowed. Homeowners built fences out over the common areas because they could claim property that didn't belong to them. People parked MANY commercial and private vehicles on common areas. Squatters lived in the recreation hall. Does this sound like where you want to live? Remember ---NO HOA fees! When the HOA was organized, people then had to pay $15.month in condo fees (thirty years ago), and ALL these problems went away. A FLEET of tow trucks came to tow away all the vehicles on common areas ---and when the tow trucks went by hauling out another vehicle, people CHEERED!

These folks might want to look into manufactured homes, mobile homes in a 55+ community. It’s a single-family home experience, low cost monthly and you would be surprised at how nice these units really are for the money might not get the beach view, but the beach is still not too far away.

Who moved down and took over Florida and you will have your answer

My 20 unit hoa was a resident living in one of the condo. $180 a month. Dont buy if your hoa is run by a private company.

No tax on elderly owners in some..?????

It's 3% or 4% inflation?

The lack of government protection of home owners is nothing less than a crime. Celebration is in the range of 1k a month HOA!!!! Are you kidding me??? A 400k home means, your taxes, insurance, and HOA is way more than the actual mortgage payment in most cases! I don't understand how they rent these for 2k??? Nothing makes any sense in Florida . What a messed up state! ONLY ONE PLACE to pass the blame! Your local governments! AND your HOAs! I guess I just make sure I buy new, and NO HOA if I want to live down there. New means low insurance. NO HOA, means no KAREN's looking over my back and charging me whatever she feels like.

National Flood Insurance that subsided the actual cost of insurance for decades. That was changed in 2018 with a 4 year phased enactment. Florida residents are still receiving welfare from other States to reduce the actual cost of flood insurance. Just not at the prior rate of over 80%.

@uis00sn

4 ай бұрын

Really? Not every condo in Florida has to have Flood insurance, you know

Governor/legislature, do your job instead of attacking Disney and addressing nonissues.

Florida was a paradise .. now it's a Damn Nation !!!!

Where is the state government, what they doing to help these residents? If I were trapped like these people, I’d punish the politicians who let this happen.

All that deferred maintenance and repair work is catching up with these folks. Living cheap usually catches up with you at some point. The music stopped and those left owning these properties at this point are getting stuck with the problems.... and the costs.

It's called extorsion. Better buy a plot of land and build a shack.

Fire sale