It's surprising to see landlords taking such drastic measures. I wonder what's causing it.

@Nernst96

5 ай бұрын

I think it might be related to the broader economic uncertainties. With the fluctuating job market and remote work trends, people might be reconsidering their living situations, and landlords are adjusting to the new demand.

@tonysilke

5 ай бұрын

With all these changes, I'm thinking it might be a good time to revisit our overall financial strategy. Maybe consulting with a financial advisor could provide some insights into how to navigate through these shifting economic landscapes.

@PhilipDunk

5 ай бұрын

That's a smart idea. A financial advisor can help us assess our current financial situation, including housing costs, and develop a plan that aligns with our goals. Especially during times of market turbulence, having a professional guide can be invaluable.

@JefferyDuns

5 ай бұрын

Who’s your CFP ?

@PhilipDunk

5 ай бұрын

Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

We moved from OH to TN to retire. The owners of the house we bought from in TN moved to Florida. Guess who bought our house in Oh??? A couple from Florida! They wanted to move back to OH to be near family. People are still moving.

@JBlazeCalifornia

5 ай бұрын

People need to just pick one area, and build up the community.

@JBoy340a

5 ай бұрын

Ha. Talk about a loop!

@CaptCrunch106

5 ай бұрын

It’s hard for younger gen to compete against boomers who collect SS, have a pension, and built equity from cheaper housing compared to income earnings. I’m not interested in buying any of the pine boxes they live in, they can be buried in their over priced pine box before I fall into the pyramid scheme! Reduce prices, or I’ll just buy up all the gold and silver and sit back and watch the fools pretend their coffin is a castle all the way to their grave and wait for their children to unload their pine box’s on the cheap.

@FSUGrad1999

5 ай бұрын

Yeah people were still also still buying leading up to 2008 crash. How many of them lost their shirt.

@dianeturner9503

5 ай бұрын

I'm in the Dayton area, also retired, and the school levies and property taxes here are driving me out! NE TN looks very good to me. Do you mind me asking where you are in TN and if you like it? Property taxes there seem to be 20% of those here for a similar house. I do realize sales tax is a lot higher.

Just bought a 3 taco meal with a drink for $10.75 at Taco Bell. Sheer insanity. 3 simple tacos and some 45 cent drink. Fast food echoing the crazy economy as a whole.

@JBoy340a

5 ай бұрын

Drink is $3 and costs them $0.03. It's the highest profit item. Get a glass of water instead.

@rongendron8705

3 ай бұрын

I totally agree!@@JBoy340a

Mortgage applications does not equal closed sales

@MichaelBordenaro

5 ай бұрын

100%, correct

@mikesrandomvideos

5 ай бұрын

means people realize they can qualify for a home.

@andrewprice2894

5 ай бұрын

We as people have to look at the data ourselves, not the perversion of the TV news. All of them just aren't not only telling the truth but omitting the parts they should be saying. I say bought and paid for false information.

@bobroberts2217

5 ай бұрын

Until they realize the home they qualify for is trash

@mikesrandomvideos

5 ай бұрын

@@bobroberts2217 most people where I live cant even qualify to rent. or buy they are living in their cars and RVs.

I don’t listed to the fed anymore. All I’m looking at is the cost of food. The inflation is much higher than they admit. Everything is 40% overvalued in Miami.

@TheAjs71

5 ай бұрын

Not only in Miami...and not only misrepresenting inflation numbers, unemployment is well over 20% IMO, possibly even higher! Keep doing your own, agenda free research, this is just the beginning. When this music stops, try and make sure you've got a chair...

@SoulfulVeg

5 ай бұрын

I remember when the bubble hit Miami. It was one of the worse declines in the country. I doubt it will be that bad again. But, all the places with the most housing inflation fell the hardest.

@deerocker6987

5 ай бұрын

Miami is always overvalued and always will. Because the foreigners love Miami no matter what

@Monika-tv8np

5 ай бұрын

Totally agree. I am in NY, food cost is about 30% higher since 2020. My car insurance went up maybe 5% which is ok. The problem is that nobody increases salary.

@frederickmuhlbauer9477

5 ай бұрын

@@Monika-tv8np 5% normal even back in the 90s

I would definitely buy if prices were affordable the interest rate isn't the issue. Homes trippled over the last 3 to 4 years

@jeanieologist4456

5 ай бұрын

OK let me break it down for you home prices are high but saying that it’s not the interest rate that’s the problem is crazy. I have a 2.8% interest rate on my home which makes it very affordable on my monthly payment and my house is worth $400,000 is that interest rate was still at 2.8% for you on a $400,000 home on a 30 month loan you would be saving a shit ton of money. So I’ll throw another example out there for you a $300,000 home take 100,000 away at 12.8% interest versus the 2.8% interest what do you think is going to cost you the most money think about it

@fazdoll

5 ай бұрын

@@jeanieologist4456 The real issue is that when interest rates rise, prices are supposed to fall. When the interest portion of PITI increases, the principle portion of PITI decreases, so that the monthly payment doesn't really change all that much. However, real estate prices are sticky on the way down. Interest rates rose far faster than the house prices could fall. The question is whether house prices will fall far enough to make up for the increase in interest rates.

@lindylou3519

5 ай бұрын

Exactly! It’s not the interest rate for us because we plan on paying cash, but the prices are still too high where we want to move to. I see the prices dropping somewhat but not as much as they should be. I guess if we sell our paid off home at the high price we’ll break even.

@elizabethwitt2621

5 ай бұрын

​@@geocam2Welcome to your New Florida. It's only for the rich now.

@tld7846

5 ай бұрын

@@geocam2 My husband and I were seriously considering buying a retirement home in central FL. When we called to see how much homeowners' insurance would cost, we were told the properties we were looking at could not be underwritten and that Citizens would probably be the only insurer that we could get coverage from. Mind you, these properties were in CENTRAL FL and not in a flood zone or hurricane evacuation zone. But because of the risk of high winds and residual coastal storm damage ( locations over 1.5 hours from either coast), these properties can't be insured. We're now trying to figure Plan B.

I'm personally tired of the reason for not buying a house is the interest rate. It's the AFFORDABILITY that is the #1 problem of any purchase. A quick story. My 1st and currently only commercial loan was for a commercial truck. In 2014 I was only at a 680 credit score (not good) my interest rate was 12.5% back in 2014. I financed for 6 years, the payment was $4997/month. The amount financed was $235k. I paid that off in 5 years. In my years of buying things via loans, the interest rate really only effects the bottom line if it's carried to term. However, if the purchase price is so high that you have no choice but to carry the loan to term, the purchase price was to high. I purchased a car hauler in 2014 for total sale price of 285k, now that same truck and trailer is 425k to 450k. And this is a depreciating asset. Crazy world

@SoulfulVeg

5 ай бұрын

I was talking to a friend about this yesterday. We bought our 1st houses in the early 90s. She had an 8.5% mortgage, and I had a 7.5%. But the houses were more affordable in relation to our incomes. I was an administrative assistant, and she was in a new grad position at IBM. It was easier back then because my house was about 3X my income.

@fozzir

5 ай бұрын

Don't you get to write of a commercial truck from your taxes? If so, I think that should be mentioned. On the housing side it's only worth it if it's more than the standard deduction.

@kkadam96

5 ай бұрын

You are absolutely right. I typically don't care about interest rates on large purchases because my intention is to pay it off as quickly as possible. Houses that was 400k is now 800k. A lot of people will struggle to pay 0% mortgage on a 800k house.

@andrewprice2894

5 ай бұрын

@fozzir I get to take the tax deduction as a depreciation yes. It helps. However, if I was to sell said asset I have to pay recapture of depreciation. There's no free ride with taxes no matter what. I'll also tell you I had to pay (not finance) a 12% of total cost of the equipment in the form of FET (federal excise tax) non recoverable. So imagine paying 12% fet on 450k. Just criminal

@joeyork9891

5 ай бұрын

Facts.

My husband and I live in NC. He’s a licensed General Contractor, builds custom homes and spec houses. From a builders point on prices of houses, people need to understand builders have no control over costs of building materials. Pricing on materials change Month to month. One month lumber prices are up and the next month they come down some. Concrete on the other hand never comes down and has 2-3 prices increases in a years time. We are in our 60’s. I think people need to live within their means. People often will say I need a bigger house, more closet space etc etc. In my opinion I think we as a society have way too much stuff. If people would just declutter and get rid of the stuff they don’t use or need they could live comfortably in a smaller home. There is nothing wrong with children sharing a bedroom. You don’t need a guest room. Guest can stay at a hotel unless you have a sleeper sofa. And how often do you really use that Formal Dining Room. Houses have increased in square footage over the years, so yes so has the price. Everything has gone UP in $$$$. When we moved 3 years ago to the house we are in now; I go rid of tons of stuff. Sold some but gave most of it away or took to Goodwill.

@andrewprice2894

5 ай бұрын

I totally agree. I'm a total minimalist. After moving few times twice across the country you will learn to keep things at a minimum. Not empty just enough things. If my house in renting her in central northern CA wasn't where is at. I'd love to downsize. I'm renting a 2800 square foot house for $2400/month. That's cheap considering a smaller home (what I want) is over 3k here.

@wmpx34

5 ай бұрын

People lived in smaller houses when they were still having 5-10 kids

@JBoy340a

5 ай бұрын

Agree. We have rooms in our home we never use like the formal dining room. But, moving entails a lot of costs and we know everyone on the block. Also we have a large lot so no neighbors looking in your windows.

@MAfanwoods37

5 ай бұрын

I completely agree.

@sugaashow

5 ай бұрын

Children should not be sharing bedrooms. Sorry. Every human should be entitled to their own space, even if it’s just a bedroom.

People are trying to dump investment properties before the market crashes

@SomeUserNameBlahBlah

5 ай бұрын

Investors plan to own 40% of all homes by 2030, for something like that. The plan is for them to buy more. I don't think they are dumping.

@jerusdc

5 ай бұрын

Unless they paid cash and they are cash flowing.

@KingFergus

5 ай бұрын

@@jerusdc the cash flow on Air bnb is crashing as well as rent rates

@OGJeff685

5 ай бұрын

market at all time highs as of today... a crash from here wouldn't really be much to talk about.

@shanerogers9386

5 ай бұрын

@@jerusdcthe get rich quick investor culture that is harming millions of families need to start having severe consequences.

Uh according to redfin, prices are up another 4%+ year over year and active listings are DOWN 2%. Thanks for the usesless and unhelpful clickbait though. 👍

Property tax of $95k per year? That's $260 per day!

Current interest rates are not high. Previous interest rates were artificiality low.

I ❤️ sold my rate, which was 4% for 15 years. It was a townhouse. I ❤️ want to stay in the same town but could not 😢afford it. Now I'm in my childhood bedroom 🛏. My mom is sick so I'm here helping her.

Whoever jumped the gun buying a home and didn't count up the cost.... Is in a WORLD of trouble. Good stuff 💯

@mrbob19561

5 ай бұрын

Gotta have it now...yay

@byronmcdougald6569

5 ай бұрын

@@mrbob19561 Just remember it was BY CHOICE NOT FORCE

@candelariaw1668

5 ай бұрын

Stop hating

@Truebaconluver

5 ай бұрын

Keep waiting ...forever

@byronmcdougald6569

5 ай бұрын

@@candelariaw1668 For some strange reason I take a liking to you in your comment, that being said Ima be searching for you throughout the year and see where hating got me and going forward got you 😊

I'm in a good place financially, have no credit card debt, no car payment, and have a monthly mortgage payment that I can afford.

I sold this year. My 2.8% mortgage almost kept me in place. But I was ready to leave Florida. I had the house for 5 years. So, I was happy to cash in and move closer to friends and family.

@user-sd5ow2lz9o

5 ай бұрын

Sounds like you only finally gave in and decided to give up your incredibly low interest rate mortgage loan, knowing you will not get that low a rate if you need to take out a new mortgage loan in order to buy your next home, because you realized you can still make a very high profit on the sale of your current house, likely great because you bought it 5 years ago and prices in your neighborhood have gone up so much you feel your profit will set you in a good buyer's position on your next house. But many people are not in that same position, and will feel stuck to stay in their more affordably mortgaged home for quite some time. Of course, as time goes on, more people will have no choice but to move due to changing circumstances, no matter the effect on their finances. But number of sellers will probably remain below normal for many years.

@SoulfulVeg

5 ай бұрын

@@user-sd5ow2lz9o I agree with you. I also thought the market would soften in my area, and it has slightly. Mostly, I just wanted to move. The 1st house I bought in 1994 had a mortgage of 7.5%. Even so, it was easier back in the 90s when house were more affordable in relation to incomes, even with higher interest rates.

@gypsygirl9

5 ай бұрын

​@@SoulfulVegwhere did you move to? Do you like it?I want out of sfl. Looking at NE TN.

@MichaelBordenaro

5 ай бұрын

Thanks for letting us all know that interest rates do not dictate the direction of peoples lives

@SoulfulVeg

5 ай бұрын

@@gypsygirl9 I haven't hung around TN for many years. But, I've heard good things. For now, I'm renting in Atlanta until the fall. My best friend was dying (she passed last weekend), and my daughter got engaged and married. It's been useful to be here for these milestones. But my daughter is moving to the Midwest, and I hate cold weather. Luckily, I'm 100% remote and can live anywhere in the US. So, I'm going to visit around. If something happens with my job, I may just move internationally and retire. I don't have enough $ to retire domestically yet. But, I probably would be okay in a lower cost country since I'm not at retirement age.

My husband & I live in GA & want to move so bad! We are average, just retired couple & our house is paid off but we’ve been in this neighborhood for 25 years & we want a change & to live closer to the coast (not on the coast, just closer…GA, SC or AL but FL is no longer in the picture). The property our home sits on is difficult to maintain & the pool is a money pit & our neighborhood isn’t what it used to be. Our kids all moved out of state but we don’t want to move to Oklahoma or CO where they are. I’m feeling like the housing prices are still too high but if we can sell our home at the going rate & pay cash for a house close to what we sell our house for, then wouldn’t we be breaking even? I just don’t know about wasting anymore time waiting for things to improve when they very well may not. 😢 We’re so mad this stuff happened just as we retired. Argh!

@vickimerritt2832

4 ай бұрын

Just do not over pay and get underwater. As you age you may need to sell in a hurry or to downsize even more. Have an elderly friend that did this in the past and had to let their home go back cause they got underwater.

Florida is falling apart in so many ways. It's the state of diminishing returns. Glad i got out long ago. What a mess.

@francismarion6400

5 ай бұрын

​@@geocam2It is.

@marknewton6984

2 ай бұрын

Glad you did too.

We traded our 3.25% for a PAID OFF MORTGAGE. LOVING LIFE. 😊

People need to sell for one reason or another. But If they want to close the deal they need to turn off their ego and greed and should start listing their homes for fair prices! Otherwise nobody won't buy their overpriced propertys (like we saw a bunch of times on this channel).

@user-bg2tn4kg5m

5 ай бұрын

@@geocam2 That's a polite way to correct his or her grammar!

@DrSchor

5 ай бұрын

will

I’m 45, $800K net worth. Been saving 50% of my salary, investing in stocks & living below my means. I'm trying to avoid new buys now in order not to get sucked into a bear trap. On the other hand, I’d love to know best possible areas and ways to invest amid downtrend. I’m worried with the numerous bank failures as of late or do I wait?

@DrealOtis00

5 ай бұрын

@llWavene if you do not mind, could you explain a little bit how you're getting guidance and how can I contact the advisor? I'm looking to give stocks another shot after staying on the sidelines

@DrealOtis00

5 ай бұрын

Thanks for sharing. searched for her full name and her website popped up and it was easy to schedule a call session with her

@pabloganzales6197

5 ай бұрын

Your almost a millionaire good job keep it up, most people don’t have that at 45

@RGX2178

5 ай бұрын

Scammers here beware

@lightyplays3390

5 ай бұрын

just drop 200k in gold for safety

DOES NOT MATTER. The price of inflation is still going up. This will continue to put people off from buying homes.

Houses are sitting for sale and not selling in my neighborhood in Texas.

@wanda520

5 ай бұрын

Same in my town which is a fast growing southern area. Townhouse 2 doors down which in the past would have sold quickly has been on market 6 months with price going from 276,000 to 261,900.

@gregorylyon1004

5 ай бұрын

Every seller wants a $100 thousand dollar profit from the sale on the house

@funDAYsmiling

5 ай бұрын

Same here in Southwest Florida. Several homes with for rent signs have sat vacant for months, several more just went up for sale and haven't moved for months all while even MORE are 80% finished unfinished new builds that look like builders are deliberately stalling in completion for obvious reasons.

@megan5881

5 ай бұрын

@@gregorylyon1004 300K in Virginia Beach.Its insane!!!

@JBoy340a

5 ай бұрын

@@geocam2 and property taxes.

Corporate greed (food and essentials) and homeowner greed are not going away because people are willing to pay. Something has to break.

A lot of people are selling their short and long term rentals. No one in their right mind would rent to the public in this environment.

My dad sold 2 of his properties, his rate was 2.90%. He explained that rates are never the deciding factor as to why people sell...people will sell, and he cited mainly due to the high divorce rate. But his realtor was telling "inventory will stay low FOREVER due to most people locked in those golden handcuffs"..but we all know that most realtors have no integrity, so they said that to try and gaslight people into thinking that prices will never drop

@morriganfey6079

5 ай бұрын

Oh man. I just thought they were wrong. I didn't think about them using it to leverage people into buying expensive housing. It shouldn't surprise me that people are like that, but I feel like I'm surprised every time. It makes me sad.

@MichaelBordenaro

5 ай бұрын

I agree any Realtor saying that is full of it

@alicehawkins8685

5 ай бұрын

We decided not to buy yet my realtor will not leave me alone. She says all kinds of things to us. She doesn't care we can qualify but we're the ones that have to pay the mortgage.

@michaelchristophergutierre7244

5 ай бұрын

My only caveate homes will get more expensive from a macro perspective. Hedgfunds and fund managers like Blackrock are buying up inventory at a fast rate including whole neighborhoods, next the World Economic Forum is pushing the agenda "you will own nothing and be happy by 2030. This is happening from a noticeable rise in gas, energy, groceries, insurance and everything else. Dollar store ain't even dollar store anymore lol 😅 But wages are stagnant or way behind inflation ...but a big factor is location. City dwellers are hurting and it's going to get worse if the elites have their ways.

real estate in the US has never been so overpriced - look what real estate spectulation did to Japan, it's been a zombie economy for decades because of real estate speculation

@JBoy340a

5 ай бұрын

Japan issue is population shrinkage and aging. The population is shrinking by 1+%/year and is aging and dying fast.

@fredrickhaemker8434

5 ай бұрын

Has that happened in the UK also?

@blissdad13

5 ай бұрын

​@@JBoy340amaybe I need to move to japan

@novadhd

5 ай бұрын

everything is overpriced

I wonder if the 3-4% interest rates were the anomoly and 6-8% is the norm? Why not? It’s just a matter of perspective. And buying “too much” house is a thing of the past. Nothing wrong with a 1500 sq ft 3 bedroom, 1.5 bath ranch. No one needs 3600-5000 sq ft!

On the wlw news this afternoon. Macy's is laying off 6% of their workers and closing 5 stores. Wayfair is laying off 12%. And more that I didn't catch. But everything is fine...

@deep6301

5 ай бұрын

Sports Illustrated is shutting

@dariodjakovic1600

5 ай бұрын

You work for any of those?

@eddyeroyal6024

5 ай бұрын

I know I heard that but Amazon is only laying off, today.

@operationretribution1263

5 ай бұрын

@@deep6301 yes I remember something being said about sports illustrated too

@delaville680

5 ай бұрын

​@@dariodjakovic1600 It impacts all of us. Thousands of people who can't spend money into the economy. Thousands on unemployment. Do you have critical thinking skills?

unfortunately, the demand might bounce up a little but for the normal person, these prices are way to high, wages don't match up and the normal person can't afford it.

@gregorylyon1004

5 ай бұрын

These homes were never worth nearly as much as people were signing for in the last 5 years.

@SomeUserNameBlahBlah

5 ай бұрын

Wages and prices don't matter. The average idiot will go bankrupt buying crap if a bank will loan them money.

It is fascinating that people are ok with buying things that are unsustainablely expensive.

Interest rates are not problem. Housing is still way overvalued. The Fed is delaying the inevitable. There is not going to be a soft landing. They say their goal is to get inflation to 2% but that would mean raising interest rates especially since inflation is ticking up again. The fed is doing all they can to avoid a recession this year. They’re just kicking the can down the road. The biggest expense for most people right now is housing, whether it’s renting or a mortgage. Housing is still at the most unaffordable time in history and prices of goods and services are still high yet the economy is supposedly humming along. People are putting everything on credit, taking money out of their retirement accounts, savings are dwindling. This is all going to come to a head eventually.

Property taxes, high insurance, and big houses suck up alot of money to cool and heat. People are selling to find affordable housing.

Who can afford to rent a home for 55k, let alone 25k a month???

@Bamapride1985

5 ай бұрын

I'm pro renting but could never see someone paying that much for a rental

@JBoy340a

5 ай бұрын

Someone with rent paid by a company other other business. Not all that uncommon for high level positions.

@francismarion6400

5 ай бұрын

A Pfizer executive

@JBoy340a

5 ай бұрын

@@RPNN Probably a lot of Putin's buddies that do now want to fall out a window.

These Are The Days of Our Lives

What's a bummer is that even if we could magically make the insane price increase from the pandemic go away, insurance, HOAs, and maintenance still makes them much more expensive. The crazy HOA increases for condos are not just a California,Florida thing, it's hitting everywhere.

I think a lot of people that bought homes with 3-4% loans bought too much house or finaced with too much debt because houses 3 years ago only go up. Now those people have found out the true costs of rehab, insurance, property taxes, renters, vacancies, BNB fiasco, etc. It's pretty simple, people have to sell because they can't hold the house, for a ton of reasons.

In Massachusetts the inventory levels are unbelievably low. Nothing to buy.

@stoneyswolf

5 ай бұрын

I moved out of Massachusetts 30 years ago to CT. Can't stand Massachusetts the gun laws are BS and safety inspections on your car every year or whatever it is sucks.

This is not the 1800 or 1900’s where the job keeps you planted, or family in one area for 50;o one hundred years.

Fun fact about this channel- in the two years you've been watching it , prices have risen another 15%+ and still counting. Oh and this guy also brought a condo in miami in 2022 while "predicting" a "crash" in literally every single video. In other words, you've been had. Lol👌

Buying a home is a long term mistake, you will never own anything, home ownership is so overrated,

@HappyandBlessed-wj7gc

5 ай бұрын

Spoken like a true forever renter.

We are definitely seeing that. Especially with older people that had a 8% or so mortgage previously and figured out how to live with it before. They just refied that 8% to 5% when the rates dropped.

My brother-in-law is in commercial real estate in Atlanta, but they have buildings in Miami too. According to my sister (his wife), things are tough in that industry these days! We all know it, but when you hear it from a loved one, it hits harder.

@MichaelBordenaro

5 ай бұрын

It’s definitely more grounding to hear it straight from a family member that’s being affected

Good to hear youre prepared also. Sound advice and another great video update.

@MichaelBordenaro

5 ай бұрын

Glad you enjoyed it

The current inflation is out of control. I bought 2 gallons of paint for a bath remodel. Not premium paint, but middle of the road decent quality. $ 52 a gallon. Same paint 2 years ago was about $28 a gallon. This applies across the board. We are getting nickel and dimed too death

@jamesjoslin7586

5 ай бұрын

Thats “ Bidenomics” !!

That area you are walking in is very beautiful. Nice to look at. Hope to visit one day.

🎉🎉🎉 Hey 👋🏼 Michael. You always deliver your content in a very relaxing way. I really appreciate how you film your videos with the breaks showing your surroundings and your demeanor. Keep on keeping on my friend. You know that I always watch all your videos. Blessings,Carlos ✝️🙏❤️😊🇺🇸

@MichaelBordenaro

5 ай бұрын

Thanks for letting me know what you like about my show Carlos. Every little nugget helps me continue to make the videos people enjoy. Always appreciate you being here my friend.

The prices in my area are still way too high. I’m in Minnesota.

@theewelder

5 ай бұрын

florida is higher,trustme...was in tampa,orlando,back to tampa within 15 years now..

@SleeplessMomma

5 ай бұрын

@@theewelder I have heard, awful!

@Litterbaux

5 ай бұрын

Same in Wisconsin, prices shot up around 30% and have stalled out but nothing is getting cheaper, maybe 1-3% cheaper but nothing major. It's crazy.

@SleeplessMomma

5 ай бұрын

@@Litterbaux I happen to see some of the listings in Wisconsin occasionally. Up north they were kind of normal but I have noticed they went up recently. Hell, we just want a decent house for our family. It sucks.

@gregorylyon1004

5 ай бұрын

The high prices are because every seller wants a $100 thousand dollar profit on the sale

Leasing contracts open of 19% is not the key for office space, lots of offices are leased by empty because people work from home but the companies have a long leases, SF is really bad, whole buildings are empty but still leased and nobody wants to take over the lease.

I’ve been wanting to move for years, been in my current town 20 years and I have the itch to leave. But those golden handcuffs are so very sweet. 🤷🏻‍♂️ it would be easy to sell my home so many people moving here. Maybe in a few more years.

A number of commercial properties are being converted to residential condos and the like. Rejuvenating communities. Lots of opportunities out there

Here in Sarasota Brad area yes listing are increasing but additionally pending seem to be falling. Differences of course from neighborhood to neighborhood as well as price ranges but seeing this more and more commonly.

Happy Friday Michael, Thank You!

@MichaelBordenaro

5 ай бұрын

Same to you!

Appreciate all your good info on your videos!!

What about mass layoffs, over 10 million so far .

I’m in Los Angeles in the same house I bought in 1999. I want to move, but can’t afford to. I had a small window back in 2010, but then house prices went thru the roof again. Still insane out there.

I see a lot of walls around property. Walls are not a thing at all around here. There is one property in our area that has a complete wall at the front of the very wide frontage. But they leave the gate open.

This is true, people continue to move, sometimes they have to.

Two or three years ago in my neighborhood houses were only staying on the market for a day or so now they're on the market for weeks at a time.

@MichaelBordenaro

5 ай бұрын

That’s a good sign that things are starting to improve

@steviecoleman9260

5 ай бұрын

Yes going back to a normal housing market where it's more affordable.

I got a .9% on a 15-year loan when covid hit. Until homes fall at least 100k in Florida (20-30%); people can't afford a place. It's 52% cheaper to rent right now.

Thanks Mitch!!

Well, I think it's time to realize "you'll never go broke taking profits." Buffett is also selling! I'm still uncertain about selling my $260k stock account and family home in Boca, but considering its recent significant decline, might just get through with it.

@debwes1

5 ай бұрын

Don't sell; avoid trying to time the market and incurring unnecessary taxes. Stay grounded and focus on the long term. Or just seek counsel from a market strategist.

@josephbush

5 ай бұрын

This is why I've entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advsor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to $ 1 . 1 m, generating sufficient dividends for my household's needs.

@MarvishaN

5 ай бұрын

@josephbush I'm really interested in this, because I'm in a similar position at the moment. more info needed please

@josephbush

5 ай бұрын

Well my go to person is a 'HEATHER LEE LARIONI'. So easy and compassionate Lady. You should take a look at her work.

@MarvishaN

5 ай бұрын

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

Thanks, Michael!

I couldn’t imagine paying 95k a year in property taxes. That’s just disgusting 🤮

Sales volume is at a 30 year low, but don’t call it a crash. 😂

There's a lot of people paying cash for houses, especially up to 2 mil.

Tons of houses going up for sale in Charlotte county Florida

I am with you on the debt free prepared, unfortunately it took me to age 60 to get there. (Now 70).

My neighbor here in Miami Beach got 2/2 apartment for 220,000 at the beginning of the pandemic when the prices crashed with 3,3% mortgage. He sold it for 450,000 in the beginning last year to people from new york. And made a nice profit. People who got their houses for 3% mortgage usually got them also cheap and they are selling them because they can make nice profit. That’s all!

@basha0810

5 ай бұрын

What you said is the reason FL is out of control. Nothing to boast about.

Colorado has zero inventory and what little goes for sale induces a stupid overplayed buying freenzy. Insane

We are already in a Recession Michael it’s all downhill from here

I moved 5 years ago from California to the gulf, Florida .I was not prepared for 1 my beautiful country town get over developed , 2 the cost of property tax, hoas and insurance double and triple ...I'm looking at moving now because I'm retired on a limited income .

Increased inventory is good but South Florida home prices are still way overpriced. People are still listing garbage houses for insane prices.

Just looked at a property today down the street from my house. its 2mil. If paid off completely youde still have to pay over 3gs a month. Shits broken man!

@MichaelBordenaro

5 ай бұрын

That’s so crazy isn’t it that’s more than most people pay on their mortgage

@PJ-yc2kb

5 ай бұрын

@@MichaelBordenaro Its about what I pay for my mortgage and I owe 450k. Unless something drastically changes like Klaus Schwab said. Youll own nothing and be happy. WEF chairman. Pretty sure none of this is by accident but I could be wrong

@JBoy340a

5 ай бұрын

3g in property taxes?

@PJ-yc2kb

5 ай бұрын

@JBoy340a So it was 1700 a month in taxes and 1300 a month in property insurance. Although you could cancel the insurance in this instance. For a 2 million dollar property that's a big gamble unless you can self insure

There’s plenty of home inventory in parts of Florida now and it’s simply supply and demand and now prices are slowly coming down. Homes are worth what the market will bear. The auto industry is going through the same issues as lots are full of unsold vehicles.

Thanks for letting us know about how empty offices can lead to a recession-like economy. Great advice on saving a six-month fund, clearing out debt, and preparing for rough seas.

Couldn't have said it better Mike, especially at the end.

I saw this coming years ago and useing some of the info from this channel and a few others, I was able to convince my uncle and aunt to sell and leave before it's too late. They retired and left to SW Florida a year and a half ago but had they waited even another 6 months, and the rates would have been over 6%. If they were still where they were, they'd never be able to sell their home because rates are over 8% unless you're a PRIME buyer WITH 20% down. Meaning, even though they owned their home, the people that were trying to buy wouldn't be able to get a loan. Likewise, they'd never be able to afford the mortgage on the other side of the move to Florida. While I have 10 years to wait out this cycle, they're nearly 60 and do NOT have that kind of time.

I don’t care if my rate is 0% I’m NOT overpaying for a house 😘

@HappyandBlessed-wj7gc

5 ай бұрын

Your landlord approves this comment.

@mrsdee4800

5 ай бұрын

I once had a realtors license, owned two homes sold one in 2022 for tremendous profit. Thank you

@mrsdee4800

5 ай бұрын

@@HappyandBlessed-wj7gc I owned two homes sold one in 2022 for tremendous profit. Thank you

I would hate to have to trim the hedges on those houses that Michael walked by.

My niece and her husband managed to get a buyer for their hundred year old house - which was their dream house but it became very bitter when they started to get 900 hydro and 500 gas per month. they bought a newer brick home right away but the same price 550. They are 30 years old - I do hope in the coming times that they don't see the value drop

Keep up the good work and also show more iguanas please

It all depends on where you live. Where I live people want to come here and there's no crazy going on. So property values here keep going up. Not selling for at least 2-5 more years here.

A lot of smoke and mirrors out there. I don't think mortgage applications mean squat unless that specific application can be tied to a closing.

What about assesments and taxes and insurance.. there is inventory but no one will take on those areas without limits. By the way that is a gorgeous neighborhood.. many thanks Michael

The drudge report today have a story regarding lowest number of homesails in twenty nine years.

It's unbelievable to me that after the interest rates went up, home prices STILL didn't budge. I don't want to hear about "lack of inventory blah blah blah" anymore. This just doesn't make any sense, I'm sorry. There should have been a MAJOR crash by now. Someone or some entity is intentionally trying to destroy the middle class. We have NEVER had a time where high interest rates coincided with high home prices EVER until now.

@shanerogers9386

5 ай бұрын

Because the market is driven by flippers and investors just like it has for the past 2 years. Here in south Florida every home is a flip or rental. And a significant amount of homes on the market have been traded 2-3 times in the past few years. It’s speculators playing hot potato 🥔 at this point.

@georgedreher2322

5 ай бұрын

@@shanerogers9386 Definition: What is a flip? Buy a distressed property, upgrade the kitchen & bathrooms, maybe laminate flooring, coat of paint. Buy low & sell high. Put lipstick on a Pig. That game is going on everywhere.

@HappyandBlessed-wj7gc

5 ай бұрын

Yeah "supply" totally doesn't matter in a "supply and demand" economic system.. 🙄

@shanerogers9386

5 ай бұрын

@@georgedreher2322 exchange “distressed property” with “EVERY property” and you got it.

There people like me who chose to refinance and use some of the equity of the home to pay debt and not to sell . My small business dropped the revenue more than 50%.

Excellent videos.

4% decrease of below 6%. It is not moving but paying off mortgage. 15 year mortgage means 6% payoff per year. That is probably a big chunk

FYI: those noises are usually motion sensor activation. Probably activates a camera or notice for the occupants.

The rent is too damn high!

Hubby and I go out for a date night every week. Went to favorite for us, Cafe Rio last night. Normally hopping on a Friday night, hardly anyone in there.

@ihave35cents95

5 ай бұрын

I’m in the low country and every place I go is packed.

Thank you for the video Michael 🔥

@MichaelBordenaro

5 ай бұрын

My pleasure!

I bought my first house at 9.5% 30 years ago. Last month that home went up in value 18k.

House prices too high!

I am amazed at how unkept some those mansions are . 😮

Those high frequency tick noises you heard are most likely devices to keep certain animals away, as they can hear those frequencies; whereas, we normally don’t…

@MichaelBordenaro

5 ай бұрын

Appreciate the explanation

@carolbagwell6769

5 ай бұрын

I thought maybe they were cicadas, though it might be a little early in the year for them. Heard this year there will be 2 kinds emerging so expect them in the millions. 🤔 last time 2 broods emerged at the same was over 200 years ago.

@carolbagwell6769

5 ай бұрын

Uh oh..expect them in the trillions? Yikes! just read that. I'll be staying out of the southern midwest states this spring and summer.

Lots more died suddenly houses will hit the market in a couple of years.

Thanks for the video