One of my major gripes is the fact the we have to jump through various hurdles to buy property in other countries as foreigners or are not allowed to buy properties at all as foreigners, but we don’t reciprocate those hurdles that keep our housing market fair here. Especially wealthy European investors. I see many small properties at ridiculous prices (in the 5 digits for renting!) especially in the Miami area sitting empty for months or even years at a time. (I’m not pointing the finger at anyone in specific for this, just making an observation)

@AmandathePandaBooks

Жыл бұрын

Ppl are sick and stupid with greed!! Welcome to califlorida!! Tent cities!!

@katrinreal

Жыл бұрын

You might want to look up Senate Bill 264

@kal7049

Жыл бұрын

@@katrinreal What is that about .. in general terms

@katrinreal

Жыл бұрын

@@kal7049 give it a quick google search

@chrisramos3972

Жыл бұрын

@@kal7049 just in case you didn’t bother FL passed a bill barring certain foreigners that come from enemy or nations of concern from buying property in the state

High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

@KelvinWallace

Жыл бұрын

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

@UshnicYuvnikof

Жыл бұрын

@RobertCooper03 Can I ask you to recommend this particular coach you using their service?

@UshnicYuvnikof

Жыл бұрын

I am grateful for your assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Janie can provide me with the guidance needed to rectify the situation before it reaches a critical point.

@endofsociety

10 ай бұрын

Everyone's nest egg is decreasing.

Good points, but I think you're missing out on the overall unaffordability of the housing market. When prices are up 30-25% in just a couple years, it's not sustainable. Wages are not keeping up. People are spending 50% of their pay on housing. It will eventually all come crumbling down.

@katrinreal

Жыл бұрын

Thanks for chiming in. I did speak about unaffordability :).

Florida is a very crowded state with a population over 22 million living on about 53,624 sq miles of total land. In my world, that means insane traffic, long lines, and tremendous need for service industry employees. Good luck with that.

@marknewton6984

8 ай бұрын

Paradise has a price. Who wants to live in North Dakota or Michigan?

It's all over, you can't have rent above $2000 and houses in the hood selling for $400.000 and up.

@paulbrungardt9823

Жыл бұрын

2 problems Chriskleinbach: #1. Folks don't have the down-payment for purchase of real estate. #2. Interest rates of 6.75%- --Still needs Less $$$ to rent.

@Joce123

Жыл бұрын

People coming from the Midwest and California have the financial wherewithal to afford a huge down-payment..often $200,000-$400,000+, average social security with a median income = $6,000 for a couple. More money comes from the New York, Massachusetts, New Jersey. The average age of the migration is 50 years old, well educated, . The change of demographics is significant

@Joce123

Жыл бұрын

A lot of average retirees have pensions from the trades or teaching. Those funds+ social security often =$9,000 a month...That doesn't even account for the wealthy people from Chicago, Boston, NYC. People are also coming from Germany, Canada& South America

@namkebanyanklariti

Жыл бұрын

DeSantis must go! Housing stocks are down thanks to him half of all construction workers disappeared like the rapture.

@kal7049

Жыл бұрын

And a single person can not afford that rent amount. Especially seniors

The reason why home insurance is high, is not due to the hurricane, insurance companies in Florida know in Fl there is always a risk of hurricanes, there is 2 reasons that insurance is high 1. Roofing companies over charging for repairs and 2. FRAUD end of discussion. Georgia has hurricanes, and their insurance is not high like FL

@realestatebykemi

Жыл бұрын

GA has Tornadoes, not hurricanes.

@bigcee2966

Жыл бұрын

@@realestatebykemi ga has hurricanes as well, it may not be as strong as in Fl, but they do have them

I am a native Floridian and it grieves me to see what is happening to the state where I was raised for 75 years. I have never seen the economy so bad and the growth so out of control. It is all about money, and ethics are out of the window.

@endofsociety

10 ай бұрын

​@@newday3363I believe she's talking about the local wages aren't competing with the rising costs of living.

@marknewton6984

8 ай бұрын

Same age. Wait it out! Florida has seen many recessions and always comes back! The Beachcomber

Let it crash! This is not sustainable!

@AmandathePandaBooks

Жыл бұрын

Yep!! Califlorida!! More and more living in cars, tents.

@nobodyimportant7804

Жыл бұрын

@@AmandathePandaBooks Just because the market crashes, it doesn't mean that people who already can afford their mortgages become homeless. It actually helps get more people into homes. Especially the ones that are already vacant.

@zoeboifresh1000

Жыл бұрын

Agreed! Yes let’s CRASH It!!💥

@andretigiovaneti7587

Жыл бұрын

Crash 💥💥🐎

@goldenparachute392

Жыл бұрын

If it crashes, prices will not bottom for approximately 5 years. So if you buy in 2 or 3 years, it will still be going down in crash mode for a couple of years and you’ll be underwater. Then when it finally bottoms the people hoping for a crash will be too scared or too poor to buy. Then when prices appreciate, these same people will still be hoping for a crash.

Great video. Greenville SC Realtor here. We have a lot of retirees in general and Floridians moving here now due to high taxes, insurance and HOA fees.

My family moved to West Palm in 1965 it was paradise. I retired to rural Georgia couldn't wait to get out.

Most jobs in Florida being offered are service jobs low paying

Great video. The biggest issue in my opinion is the current house prices being double to triple since two to three years ago. This single factor would lessen the impact of the other issues. If the houses stayed at 2020 prices then more people could handle the other increases that have affected Florida. Those who are already owning here, as myself, who got slapped with doubled fees for everything has no local option to move to without taking on a loan for the about the amount of our current home value but with higher interest rates and possibility of not getting insurance for that new home that basically is like significant downgrading to stay affordable. Those in apartments can’t buy as easily and rents ate ridiculous due to increases. We are equal to NY prices now in my area of Sarasota. Most are asking more than $500k for a 3br concrete box ,with small sq footage compared to Georgia and SC, that needs renovation and you’ll be lucky to pay $6000/yr in insurance and now have higher taxes because of said price. My elderly neighbors are now looking for jobs and reverse mortgages due to the HOAs increases and assessments. More jobs are great if they actually paid affordable wages for the cost of housing. My area has become an area that only investor and wealthy foreigners can realistically afford. This market opened my eyes to how much wealthy Europeans and investors bought here.

@katrinreal

Жыл бұрын

Thank you for sharing!

@danielhuntington2116

Жыл бұрын

I recommend you stay away from reverse mortgages...the fees are going to dig into your equity quickly on the home. If you need $$$ look for best home equity loan.

@jeremybaldwin2840

Жыл бұрын

💯

Recently read that some insurance companies won't insure houses more than 20 years old. That could kill a big part of the market

@katrinreal

Жыл бұрын

There are always surplus lines and Citizen Property.

@juliashelby998

Жыл бұрын

They are ridiculous expensive they picked up my insurance and I went from 4500 to 9,000 for homeowners insurance. I don’t know how much longer this is going to be sustainable

@AmandathePandaBooks

Жыл бұрын

Florida should be uninsured for property! Need to self insure. Why not?? Insurance companies are crooks and thieves!!

@tomd5178

Жыл бұрын

@@juliashelby998 that's what I had heard. I believe Citizens is state run and funded. Where's the money gonna come from to cover the next massive hurricane damage? Premiums increase for sure. Deductible which is apparently already high increases. Or they make it next to impossible to get a claim paid

Your videos are always very insightful...no fluff!

@katrinreal

Жыл бұрын

🙂

The sooner a housing crash happens in Florida the better. What's happening now is not a sustainable market model.

@AmandathePandaBooks

Жыл бұрын

And the property taxes!! Other states have 1000$ per year or less in other states!

@jeremybaldwin2840

Жыл бұрын

💯

Alway great info Katrin ! Thank for putting these informative videos together.

@katrinreal

Жыл бұрын

Thank you so much for tuning in!

Out of control evil corrupt property tax even on small homes!! Even in other states, several have less than 1000.00 property tax per year!! Even decent homes are less than 100,000.00 in smaller towns etc, across the country!

"Success is not solely derived from previous success alone. Rather, it emerges from the foundations of failure, frustration, and the fear that one must conquer. My sincere hope is that anyone who encounters these words shall find triumph and prosperity in their journey through life."'

@robertfransisco8503

Жыл бұрын

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life.

Another great video!! Just bought in Bradenton and spent a bit more than planned BUT the house was totally updated (new 2023 roof included), not in a flood zone, built after 2003, in the exact neighborhood we wanted and no issue meeting State Farm's requirements for insuring. Comparing our current IL home and auto policies to those we have in FL, the policies are exact (no flood ins on either; the FL policy has hurricane coverage) yet the total increase was not as alarming as we thought from what we heard on these various videos.

@katrinreal

Жыл бұрын

Glad it worked out for you. Cost increases are avg. If the home is updated and in an X zone, the cost to insure will be less than with an non updated home and older roof in an AE zone.

@andretigiovaneti7587

Жыл бұрын

The price of the houses will come down.

@Tow.Man93

Жыл бұрын

Keep your vehicles and car insurance in your home state. Car insurance in Florida is a Rip Off & it's No Fault. So when someone hits you, your paying for your own car.

The apartment is over priced and the amount on the houses is ridiculous. Plus I can’t believe what they charge for a trailer is unbelievable

@katrinreal

Жыл бұрын

Everything seems to have gotten so much more expensive in just 2 years.

The reason they would sell their home is because (A) they lose their job (B) sharp rises in insurance and HOAs Max out there monthly housing payment (C) they bought something at the top thinking they could refi but rates are staying high and values are dropping so they have no equity and a short sale is the best escape route from the crushing payments.

Katrin, as always excellent video. You make some great observations and points and back them up with solid data. Were seeing the exact scenario in the Mid Atlantic as far as supply and demand.. Home prices in our zip code are actually up 8% since June 2022. Since you mentioned it, sadly most You Tubers were totally wrong the last two years with their predictions and opinions on these subjects. Great Job. We sold our SW Florida vacation home 1.5 years ago after owning it for over 20 years. It was paid off early but the last 3 years with all of the increases in property taxes, flood and property insurance, utility increases our annual costs were more than when we initially bought with the mortgage. We saw the writing on the wall. We continue to winter in SW Florida but owning a home in the state of Florida didn't make financial sense anymore so we put it on the market and it sold in 10 days. The profit from that sale is giving us a decent return on investment that were using to fund our winters in Florida and summers in Maine and Upstate NY. Thanks again

@katrinreal

Жыл бұрын

Thank you very much for sharing your experience John! Happy you did well with your real estate transaction in FL.

@AmandathePandaBooks

Жыл бұрын

Yep!! Welcome to califlorida!!

Highest inflation rate in the country is Florida and housing is the main reason. Buying at these price levels is like paying for a Lamborghini but getting a Volkswagen, eventually, prices will revert to historic averages. The Florida that I love is long gone and is negatively changing on a daily basis. Uncontrolled population growth in Florida has led to several environmental disasters that are only going to get worse. Something has got to give!!!!!

@MM-ig2zq

Жыл бұрын

100% correct. Miami is a dump. I’m Flogrown.

Well thought out video. Rational explanations for each point and no histrionics that other real estate videos seem to use to get viewers and push an agenda.

@katrinreal

Жыл бұрын

Thank you!

@WHATSUP7049

Жыл бұрын

Curious, what agenda would that be ?

What percentage of people are paying 60% of their income on housing in Florida?

@joannwagoner1873

Жыл бұрын

I bet a LOT

Miss Katrin thank you so much for being so honest my wife and I are so heart broken because we had been planning our retirement since 2013 we knew exactly where we were going del web stone creek in ocala we now realize we won't be able to afford it because of the insurance issues that your state is going thru we are praying that by the time we are ready to retire in 4 years things may be better I just wanted to thank you for your honesty I wish we could get it from our realtor.

You always make a great video. Hurricane and heat are major issue for Florida in the future ! We are going through hottest summer !

@katrinreal

Жыл бұрын

Thank you! Yes, for sure, it has been super hot!!!! I do kinda like it though. The heat, not the hurricanes :).

At age 69, we have been living on Narragansett Bay for a whole lifetime. In 1973, my college science professor warned us all about rising sea levels and flooded cities like Providence, Miami, etc. We’ve got 50 years of no change. Do I have to wait another 50 years for this boggle man to show up? We’ll all be long dead when the 7 seas rise into our cities.

@Gardis72

Жыл бұрын

Exactly!! And guess where they're erecting the new "Champaign Towers? Right where the old one was, on the beach! And I bet you its' already sold out if not nearly sold out and top dollar prices. No one buys that garbage except John Kerry. If one quarter of it was true, there would be a fire sale going on in coastal Florida and there's nothing of the kind,

Don’t forget to mention that Florida has the lowest job pay rate and the healthcare system is worse than any other state

Very honest assessment. I agree, the affordability of florida has changed dramatically for multiple reasons, in the past 5-10 years. The cost is just not viable for most people now, especially those who come here for the winter. Insurance cost, red tide, traffic, crowds, hurricanes, and even food costs are much more expensive. But, it is a beautiful place to live, if you can.

@katrinreal

7 ай бұрын

thank you!

Florida , at least Southeast Florida will be just like Southern California in 10 years , Paradise lost!

Thank you so much for the video! Could you make some videos for FL regions and your take on the real estate there :)

Grab your popcorn the Play begins shortly

@katrinreal

Жыл бұрын

A crash? Doubt it will happen any time soon.

@IS-jy3dx

Жыл бұрын

@@katrinrealOf course! you are a realtor and that's what supposed to say

@katrinreal

Жыл бұрын

@IS-jy3dx I don't day anything I don't believe.

As long as northeastern money keeps relocating, nothing. Nothing will crash the Florida housing market. The houses are affordable, even cheap in comparison to NY and NJ. It’s just not locally affordable.

@katrinreal

Жыл бұрын

👍

My sister lives in a double wide manufactured home in the villages and can’t afford the homeowners insurance . It has increased to 4600.00 yr !! With the oceans warming up, it’s just a matter of time before another cat 4 hurricane happens and rates will go up again. Florida is a beautiful state but I would never buy a house there. It’s only going to get worse

I agree. Prices too high. Foreclosures are mounting and it will continue until the COMMERCIAL BANKS STOP LENDING

I believe the greatest threat to the housing market is the topic that few talk about and that is the dire situation that commercial real estate is facing with 1.5 trillion in debt coming due over the next 2 years. So what does that have to do with the residential sector? A lot. Regional banks are heavily tied into the commercial space and they are already on shakey ground and failures in the regional bank sector along with the resulting credit tightening will have a negative impact on all asset classes from the stock market to residential real estate. There is a reason the Fed needed to bail out SVB and Signature and it is not just because they were being nice.

@katrinreal

Жыл бұрын

Appreciate your perspective.

@jimshoe402

Жыл бұрын

3rd quarter it starts others claim .Hmmm 😁😁😁

@katrinreal

Жыл бұрын

@@jimshoe402 a crash? I highly doubt it :)

@jimshoe402

Жыл бұрын

@@katrinreal Not a Crash Commercial starts to Reset at 7%+ for another 5 years.Which most can't do so.Then What party time at the banks ??😝😝😝

@jimshoe402

Жыл бұрын

Look at Starwood Hotels lots walking away in big cities can't make it..GOOD 10% works for Me..🤑🤑

Very nice informational video..... TY

@katrinreal

Жыл бұрын

Glad it was helpful!

Katrin, you always do such an amazing job with sharing your excellent thoughts and research !

@katrinreal

Жыл бұрын

Hi there, is is Laila? Thank you so much for your positive vibes and appreciating the research. Take care!

Hi Katrin, always enjoy your objective takes on the housing market along with neighborhood reviews. I wonder if Florida’ present and future educational goals will play a role in families choosing to move to or out of Florida. It has been nice to have family friendly cities and towns well balanced with retirees. Hope that continues.

@katrinreal

Жыл бұрын

Let's see how it plays out...😑

Florida is definitely declining but South FL is propping up the state market, for now. According to Redfin, down year over year. Sarasota down 11.2%, Melbourne down 13.4%, Jacksonville down 4.7%, winter haven down 7.8%. The list goes on. FL wages are much lower than most northern states. Add in ridiculous property taxes and insurance which make it unaffordable for most. People aren’t qualifying for the mortgage they need to buy in FL. The state is resilient but it’s not immune. The buying season was flat this spring/summer and now the fall decline will be even worse. Even builders are having massive price cuts. The fed is also expected to hike rates again this week.

@katrinreal

Жыл бұрын

Why not link here to your data. Sorry, but does not seem correct. But please, link here :).

@Megans358

Жыл бұрын

@@katrinrealKZread doesn’t allow links in the comments but Redfin and Zillow are both reporting roughly the same. If anyone wants to google it just type in “city name” + market data. So many markets in declining a lot. Buyers should set themselves up for price alerts so they can see all the price drops daily.

@VeryMiley

Жыл бұрын

If the data support this statement, then isn’t that the same setup as NY state which is propped by Manhattan, California which is propped by LA and Silicon Valley? The difference is that South Florida seems to have a strategic and structure approach towards growth - is not limiting the opportunity to businesses but also wants people to have lifestyle at various income levels - and also is trying to balance infrastructure needs, preserving South Florida history, and bringing in newcomers and additional opportunities vs CA and NY which is requiring more tax contributions from everyone incl ultra-wealthy and thus depriving many to finance the policies

@katrinreal

Жыл бұрын

@@Megans358 It is allowed. Link here :). It gets flagged but I will let it through.

@katrinreal

Жыл бұрын

@@Megans358 FYI, sellers are getting close to 97% of the ask. And as you can only imagine, most sellers will increase the initial ask price. Lots of sellers are still living in 2021. So if you see dramatic price increases, it is most likely due to the fact that the home was overpriced.

Florida has gone downhill really bad since Covid. My wife and I left FL this year after 20 years due to all the issues. The pay and education system in Florida is awful, summers have gotten too hot and everywhere is now too crowded and expensive. We even stopped going to the beach because traffic was so bad and we only live 8 miles away.

@endofsociety

10 ай бұрын

I'm actually leaving Florida when my lease is up. A few years ago, my hourly wage would've gotten me a decent home. Now, all I can somewhat afford is a literal room.

I wish I could still afford Florida but it looks like I will have to look as close to Florida as I can afford now.

@katrinreal

Жыл бұрын

Have you tried looking central FL or in the Panhandle?

@pensacola321

Жыл бұрын

​@@katrinrealRednecks

@rodneyreiter4026

Жыл бұрын

@@katrinreal Yes, I have been looking in the Ocala area and North of there. I have a house now so I'm not starting from scratch at 67 years old. My house in Norwich Ct. should be worth about $170,000 but it needs work, new deck in the rear, new power line to the swimming pool, dead tree removed, new windows and doors. But I am looking to retire soon so any new mortgage would have to be paid off quickly. The only way that I think I could make it work would be to buy a old single or double wide that can't be insured and pay cash but I hate the thought of having a crawlspace where the creepy crawlers get to live there all year rent free. A friend from Coco says if I could get down there I could find something, but she knows how and I dont. It seems a little risky to me but maybe my frame of mind needs an adjustment, as we aren't accustomed to living a retired lifestyle. Your thoughts would be appreciated and considered valuable advice.

I purchased a one bedroom condo for 47k dollars in 1994 in Arlington, Virginia. My mortgage payment was $386 a month, why in the world would I sell my condo?, I sold my condo 2 years later because of high crime, it only came with one assigned parking space, 90 percent of the resident were elderly and we had several deaths every week and it was more of a nursing facility. So there are many reasons people sell there homes regardless of how good of a deal you have on the home

@jimshoe402

Жыл бұрын

Crime the big one for me. Take Care

great video! Love the content. Working on my channel so good to see 😊

@katrinreal

Жыл бұрын

Thank you...! Much success with your channel!

Very well done, Katrin

@katrinreal

Жыл бұрын

Thank you Cathleen! :)

I am hoping my local housing market crashes. I am not moving, anytime soon. I bought my house in 2018, and it is a house, not an investment. A crash will save me $1500 or more a year on property taxes. As for the people who bought a home in an inflated market. If they don't expect to spend 10 or more years underwater, they are really dumb.

Jobs being produced in Florida are low wage jobs and they cannot sustain anyone trying to live in any part of the state. Try telling it like it is instead of like it's not.

@NuNugirl

Жыл бұрын

My Son & Daughter In Law work their butts off and live in FT Lauderdale and are saving for a first home where they both work in Plantation. She has a Masters and he has a Bachelor degree. I’m telling it like it is.

@jamesbass9797

Жыл бұрын

@@NuNugirl -- Happy to hear it. However, the vast majority of people seeking suitable employment are not your son or daughter in law and like I said most of the jobs being created are NOT jobs for those with degree's. They are low wage jobs that will not sustain anyone trying to make a living anywhere in the state of Florida. Nice try though.

@jimshoe402

Жыл бұрын

@@jamesbass9797 Tiny Union if I worked there $110K that would work.😁

Yup! Mine is at 2.8% but if my insurance goes up one more time I am out and bye bye Florida.

@katrinreal

Жыл бұрын

I hope not but I have a feeling it just may. :(

@rvnut1133

Жыл бұрын

Me too, it has gotten ridiculous and if we get a storm we are doomed. Not worth it anymore.

Florida is well diversified but there’s nothing you can do to stop Mother Nature or control selfish politicians that want to get somewhere. Except, Vote them out! It has always been known that you put people to work in construction and the economy will move well. So if builders have to pay higher wages, prices will continue to go up. Always the rich and well connected win. It’s not about being knowledgeable or doing the right thing (although that helps). In a crash or boom, they win. Good luck Floridians.

I think the biggest unknown is if there is a recession peeling away jobs? That might create a need to sell by people who lost their jobs....2nd point is I believe for now an increase in cash buyers to bypass interest rates and self insure if they choose.? Finally I believe Florida will need to create regulation and sweeping changes in homeowners insurance policies and procedures. I believe it will take bold and innovative solutions. Thanks for sharing.

@pensacola321

Жыл бұрын

Gov DeDichead has none of those!😊

@Stud_muffin

Жыл бұрын

What recession? Low unemployment, inflation coming down, thousands of jobs added each month. These strikes are going to skew the numbers next report, but in your state, undocumented are leaving and their jobs need to be filled. Of course their wages weren't great so good luck with that.

House prices over the last 100 years have averaged 5% gains per year on a cash on cash basis. Therefore will need to correct a lot of those gains. And we are currently

Thanks Katrin, great information. I just returned from the Villages on Saturday. I'll be down there by April...I continue to watch your videos.

@katrinreal

Жыл бұрын

Hi Tom, thanks for watching. Did you enjoy the Villages?

@tombiehler4932

Жыл бұрын

@@katrinreal Loved it, I'll be down in August again and full time in April.

@katrinreal

Жыл бұрын

​@tombiehler4932 enjoy it :)

Always enjoy your content…thank you 😊

@katrinreal

Жыл бұрын

Oh, thank you! 🙃

Thanks for the informations!!!

@katrinreal

Жыл бұрын

Thank you for watching!

@katrinreal

Жыл бұрын

@@karenosolin6061 Karen, thank you for the positive vibes!

We retired to Florida, not Pensacola, from the Northeast five years ago. We like where we are, but there are many things about this state I don't like. Expensive and the insurance market has gotten crazy. The politics is nuts. We are considering going elsewhere.

@katrinreal

Жыл бұрын

Where are you thinking about going?

@pensacola321

Жыл бұрын

​​@@katrinreale are considering going back to Massachusetts or New Hampshire. Much more who we are.... We would definitely do warm-weather travel in the winter, though.

@katrinreal

Жыл бұрын

@@pensacola321 best of both worlds :)

It’s not that much with the interest rates but with the constant increases in Homeowners & Flood Insurance. And that’s if you can get it.

@katrinreal

Жыл бұрын

Trickier these days

I will be going to Sarasota on Aug 31st-5th precisely to look at moving there. I would like to make an appointment with your office and get an idea of what to expect. Thank you, Ruben R

@katrinreal

Жыл бұрын

Feel free to call or text me 9175438560

I have a home in Florida that is close to the median price for the state. I rent it out for $1850 and the closest price alternative in that neighborhood is asking $2500. It's probably the best investment I ever made and I bought it at 13.5% fixed 30 year loan that I couldn't refinance for 11 years because rates didn't come down enough. I was probably getting $800 rent when I paid it off in the late 1990's. About 18 years of paying an average of 12% mortgage interest. My 1981 payment started at $623 which is $2500 in today's dollars.

@katrinreal

Жыл бұрын

Great experience you are sharing. If the time is right, it makes sense to purchase. Home owners have a median net worth 40 times more than renters.

Excellent presentation, great data driven analysis. Some unexpected findings. You hit them all on the head. Everyone considering FL should watch this video to balance out less well argued videos

@katrinreal

Жыл бұрын

I really appreciate your kind words! :)

Prices should reflect local wages. But doesnt. Its way out of reach for most people in florida. Especially southern florida. Problem is, with most remote workers being called back to their original office locations, that$2500 a month rent is unaffordable to most of your local wage earners. There are somewhat affordable homes out in the sticks but, jobs are scarce. Good paying jobs that is. You'd have to drive 2 hrs to work with these gas prices.

Sensible Katrin. Good presentation. I'm in CT but looking for a 2nd home for winters and maybe longer in the future. My RA has tailored some listings currently 396 listings of condos 55+, 68 listings villa/townhouse 55+, in a 2/2 up to $325K. All PBC, Boca to Jupiter. That's quite a choice. I'm holding back from doing any mortgage over 7%. Keeping, my powder dry. There's plenty of property out there and its not looking like a crash. Very tight up here in CT also. 2/2 townhouses (downstairs/upstairs bedrooms) are running over $400K in Fairfield County

@katrinreal

Жыл бұрын

Thank you for sharing your situation and perspective! :)

@jimshoe402

Жыл бұрын

What do the Reserves and repairs look like 100% ?? 😁😁😁

i would love to see this crash. let it come! we just need a way to stop these massive investors. there are enough for people buy greed keeps prices high.

Florida is where the deepstate retires

coming from NYC where would you recommend me to invest in FL?

@katrinreal

Жыл бұрын

That's too broad of a question. It depends on your goals. Maybe come visit and check out several options.

i think you should come out with a video on do you sell your home and leave buy home northern florida or do you leave florida florida is not so good now

They are building new homes at a frenetic pace in the Tampa Bay area. Huge swaths of farmland become new subdivisions! Don't understand it with 7 percent mortgages. Who can afford them and where are all these people coming from? Then if you compare Florida to coastal southern California or Hawaii it's still cheap by a lot here!

@katrinreal

Жыл бұрын

Lots of cash buyers

@FREEDOM195844

Жыл бұрын

@@katrinreal Then I look on Zillow at coastal southern California or Hawaii and prices in Florida are still cheap comparitively speaking!

BUT ask yourself….Just how much do these ‘Jobs’ pay in FLORIDA ?

@katrinreal

Жыл бұрын

Wages have not kept up.

@sarasotamermaid

Жыл бұрын

@@katrinreal what? Ya don’t say?? Now you’re onto something!! LOL

@katrinreal

Жыл бұрын

@@sarasotamermaid You just figured that out 😉?

Yeah but the jobs don’t pay anything. I make a 140k to drive a truck locally in pa it pays 43k in Florida and the cost of living is higher in Florida then PA!!!!! I’d take a 100k pay cut to move to Florida and I’m not alone that’s every industry.

@user-ry6xk6ji7t

Жыл бұрын

Someone I knew who was a driver in the midwest relocated to Florida and had to take a $30000 pay cut to drive in Florida. He wound up moving back to the midwest where the cost of living is lower and the pays are higher.

Florida is a wealthy state. However getting rid of manual labor that doesn’t complaint about hot weather and difficult trades labor to then pay more but you don’t have hands available to leave their current air conditioning job to go get dirty and sweaty. You now have a generation of lost trades. Now the more damage will come with the unpredictable hurricanes you get and this season they will be more destructive, you kicked out the people who had the back bone of construction. I really doubt Ron will come build your home and roads. Life will get very difficult for the poor the rich living in high rises don’t get affected until the road or electric wires need to be replaced. Good luck finding people to work for you.

What is stopping me from buying in Florida? Where I am going to retire in a year and had planned to purchase down there for winter not with what I’ve been hearing insurance companies pulling out you can’t afford homeowners insurance that Hass to get taken care of first before very many people like me, would even take the leap.

Real State commercial is hurting bad..

@katrinreal

Жыл бұрын

For sure!

Katrin I think it’s property taxes and insurance. I hope you sell sell sell.good video

@katrinreal

Жыл бұрын

Thank you for watching!

it's not good, it's AWESOME!

it's not like you cant refinance a home that you purchase at a lower price. Education for children will be of a lower level due to the state rewriting history not based on facts.

Great point. My interest rate is at 4, it’s keeping me from being tempted to move for now, hope the rates come back down soon. Thanks for another great video. By the way I visited Sarasota area and wow is that a nice place!

@katrinreal

Жыл бұрын

Thank you for watching chief. Glad you enjoyed it. Isn't it beautiful? Have you gone to downtown Sarasota by the bayfront area?

@TheVillagesChief

Жыл бұрын

@@katrinreal I think so, I did walk around some shops and dining area, a lot people walking around and shopping, I wanna say it was near lido? Is that right? I just wandered around aimlessly, where ever I was it was nice 😎

@katrinreal

Жыл бұрын

@@TheVillagesChief Sounds like you were in St. Armands Circle...fun place! North Lido which is close by is an amazing beach!

@TheVillagesChief

Жыл бұрын

@@katrinreal yes that’s it St Armand’s circle, very nice 😎

We want the Florida housing market to crash. It's way overpriced.

@gofisting2322

Жыл бұрын

No we don’t ..move to Alabama if you can’t afford florida

@Horseracingtip

Жыл бұрын

@@gofisting2322 then prices in Alabama will be overpriced.

Home rentals are higher than commercial, and the sf prices for homes is stupid ,both of these make it harder for the work force to stay watch it implode

Builders will not be able to ask for more money. They will stop building in Florida until the market stabilizes.

We plan on next year sometime buying a place in the Sarasota area. I understand that it’s getting very popular there and everybody wants to be there but it’s almost like Miami only the rich are going to be able to afford to buy anything there shouldn’t be that way.

@katrinreal

Жыл бұрын

Supply and demand is driving up prices

@Livewire1722

Жыл бұрын

Absolutely it sure is crazy expensive

@Livewire1722

Жыл бұрын

I mean, it’s a good thing for the seller and the realtor. Not very good for the buyer though lol.

@Livewire1722

Жыл бұрын

@@katrinreal what part of Florida are you into real estate?

@katrinreal

Жыл бұрын

@@Livewire1722 Sarasota

Forget about the Sea levels rising. So far, since 1981, the polar bears hunting season has shortened by a couple weeks. So where the ice used to be in 1981, now the ice is there 12 days later in the fall. Have you researched and found the maps of sea level change per year off WPB? I have. Did you know that the last hurricane raised the levels by 22 feet, north of the Bahamas. Levels raised 28 feet about 200 miles out off Daytona during the hurricane. Those levels would take 2000 years of glacial melting to occur, but Ian did it to Sanibel in just hours. Lunar tides daily make 400 year swings of the sea level. We have buoys talking to satellites 24/7.

It would be nice to get to a point

@katrinreal

Жыл бұрын

Just maybe you missed the point 😉!

what if you own a home and your home cost keeps going do you sell florida just past a law if your home was built before 2014 its a old house now and you are screwd

With the insurance crash in Florida housing in Florida will crash bad. If you live anywhere in Florida home insurance now is 10 to 12 grand for a home. You wound be crazy to go to florida it going to get worst the only people who think that it will not crash are real estate brokers who do not want the dream to end. It going to crash hard Florida is the highest inflation in the nation. Get ready Florida going to CRASH HARD by the end of the year/2024. SELL SELL many people are leaving Florida.

@katrinreal

Жыл бұрын

Yeah ok 😴 link your data here showing it's going to crash

@AshleyCherv.

11 ай бұрын

I have family in Florida and they don’t pay that on insurance. $1700 for the year

As long as you are going to show the top 10 states people move from, show the top 10 states people leaving Florida move to

@AmandathePandaBooks

Жыл бұрын

I know. Mississippi but stay away from the large cities, Georgia, Alabama, west v, Ohio, Iowa, Wyoming, so Dakota, North Dakota, even Delaware, even ny. But stay away from the coasts, and big cities. Prices are much lower in smaller towns. Even in Texas like Perry, and small towns in oklahoma.

@NuNugirl

Жыл бұрын

Can you handle heavy snow and no jobs? Parts of Upstate NY are incredibly beautiful and cheap.

@danacaro-herman3530

Жыл бұрын

​@@NuNugirl Upstate NY is absolutely beautiful. I love it there!!❤

You were fine until that raising sea level bs

@katrinreal

Жыл бұрын

Believe it or not, you will hear more about this in the future I am sure.

I hear Disney is building a park in Georgia. Pretty big.

@katrinreal

Жыл бұрын

That's just a rumor

@jimshoe402

Жыл бұрын

Who cares knock FL down then sell the lots..Now that's a Rumor too.😁😁

The Missouri Economic Research and Information Center analyzes the cost of living in all 50 states on a quarterly basis. Don't let the name Missouri scare you aware, the data is FREE, objective, and very well done. Google it and do your own research. I have no affiliation or monetary interest with them. That said: Based on the current data set Florida ranks 31 out of 50 states in terms of overall cost of living (1 is lowest cost, 50 is highest). More importantly, the historical data shows that the cost of living in Florida continues to increase faster compared to other states. This is a huge consideration for anyone considering moving there, particularly those on fixed incomes. Don't want to get "priced out of paradise".

@realestatebykemi

Жыл бұрын

Thanks! Going to check this out, because I moved from NY to GA 21 years ago, but no longer plan to retire here, as home prices have skyrocketed since 2008, when all the hedge fund i-Buyers swooped into GA (which had the most bank failures & foreclosures), creating low supply & astronomical home & rent pricing.

This market in Florida WILL crash. Do NOT be blind.

@katrinreal

Жыл бұрын

Wouldn't count on it any time soon

They say Florida is the new California

We are moving to Florida next year. Our daughter is a UF graduate student. When she graduates in may she’s staying in Florida. So we plan to sell off all of our properties and buy a retirement home in Florida. Looking near the villages. We already travel to Florida 4 times a year. And I used to live in Neptune beach. So I’m an old Floridian. Lol. Now we have a time share that allows us to travel to Orlando and stay in a gorgeous place. So it’s an exciting time for us. Looking forward to being closer to our daughter and living in a place I can swim year round. I have severe psoriatic arthritis and it really helps me to swim daily. As far as undocumented workers it should not be allowed anywhere. If you want to come into the United States to live and work please do it legally. There is nothing wrong with asking anyone to do it legally. I can’t go to another country and live and work without proper documentation. It should never have been alleged.

@mariavillagomez2172

Жыл бұрын

Why people like you still thinking that coming to USA is very easy ? No, it’s not not easy…!! It is very, very difficult, it takes many, many, years and a thousands of dollars to bring a family member here legally. People who leave their countries, they immigrated to escape from bad situations and extremely poverty. Most immigrants come here just to work very hard to support their families and give them a better life. I think people should live wherever they are happy and wherever they find the peace in their life … remember God created the whole universe for everyone and people like you should be more emphatic with others less fortunate. Have a great day!!

@joannwagoner1873

Жыл бұрын

@@mariavillagomez2172 from what I am seeing it's not that hard anymore. Border is wide open!

The US unemployment rate is deceptive. How is the US unemployment rate accurately counted? Does it account for the people who are unemployed and not getting unemployment benefits and are searching for a job and being turned away? I think the true number of Americans who are unemployed is considerably higher.

Florida is getting 1,218 new residents per day including immigration. In 10 years time that equates to a city slightly smaller then Orlando, or 444,570 new residents per year. Of course we have to take into account the age of Florida's population and the total deaths per year at 230,000. This brings Florida's net population growth to 214,500 per year. Next we must take into account the number of people leaving Florida for various reasons at 275,000 in 2022 which brings Florida's net population growth to a negative 60,400 population growth at least in 2022. If we add to this equation a recession, then that number would naturally increase. We must also take into account that Florida is a high tourist and snowbird rental market. Hence, my prediction would be around a 30 to 35%

@katrinreal

7 ай бұрын

Your numbers are very wrong from Florida's documented net migration data.

Correction is coming.

new immigration law for businesses 25+ people so likely to be little effective as employers will just segment out their businesses to stay under 25. mass emigration due to unaffordability will crash housing as new businesses fail due to population retraction.

Wait till people stop taking vacations, or the weather destroys the economy in Florida

This next yr is going to be worse financially 😢

I hope it crashes the market because Florida is getting insanely expensive and it doesn’t have to be the housing market. The prices are just ridiculous for what you are getting a block building with trusses on it and most of the time they’re turning a one car garage into another bedroom and they want $400,000 for them no reason for it.

Okay you had me right up until you said the affordability to live in Florida is at let me rewind Just to make sure,I heard you correctly. low. I've lived here since 1988 please explain to me why you believe it's cheap to live here? rent is ridiculous groceries have gone up gas still high. Supplies for me to do business have increased at least 20% You said it yourself interest rates are high.I'm looking into getting a home equity loan in order to cover upcoming assessments for building repairs because of the 40 yr. inspection, the insurance for the building increased from 101,000 to 466,000. so please explain to me again historic low? Oh yeah and next year we're going to have to add at least 50 maybe more dollars to the maintenance fee for everyone in the building I'm on the board so don't tell me about how things are inexpensive..Oh yeah and my car leases up in January My car which was 46,000 is now going to be $60,000 like that's ever going to happen. historic low good one 😂😂😂😂😂😂😂

@katrinreal

Жыл бұрын

Affordability is at a historic low. Unaffordability is at a historic high. Make sense?

@jimshoe402

Жыл бұрын

@@sarasotamermaid U need to be Rich to live there and Will go higher.

@ricklesser5851

Жыл бұрын

@@katrinreal Yes it does but I could have sworn you misspoke then and It came out backwards!

Florida has plenty of homeless to fill the labor shortage 🤣

@jimshoe402

Жыл бұрын

They have a swimming pool in Seattle and I wonder if inspected ?🤗🤗🤗 I'm sure they paid for it too.HaHa