Fast Food and Retail APOCALYPSE! Stores CLOSING BY THE HUNDREDS! kzread.info/dash/bejne/iK6Wp8GEcdS2pag.html

@carefulconsumer8682

4 ай бұрын

Yes, take the money out and look at 5.5% T-bills.

@srlbigs2

4 ай бұрын

Sorry Mike...just saw your answer in your vid about closures. Not sure why vid views went down due to your location ID info but you know what you know so ok.... wont ask again. Thanks for addressing it. 🤙

@mikesmith6461

3 ай бұрын

.99 stores closed.

@brianmahoney2079

2 ай бұрын

I rented a cheap condo for a good price and the manager of the building because I was on antipsychotics snuck into my apartment and messed with me and forced me to get kicked out because i kicked a plant and threw a rug, right after the pandemic ended, they werent making enough money off me

@gphilipc2031

2 ай бұрын

Good!

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

@Michaelparker12

2 ай бұрын

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

@nicolasbenson009

2 ай бұрын

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

@BridgetMiller-

2 ай бұрын

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

@nicolasbenson009

2 ай бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@berniceburgos-

2 ай бұрын

I just looked up Melissa online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.

Condos used to be a way for people who wanted to own , but either couldn't afford a house or didn't want to deal with maintenance. Nowadays some condos are just as expensive, or more, than a single family home.

@JFEnterprize

4 ай бұрын

Because folks got to talking “I’d pay the same amount if I didn’t have to do the maintenance, or more!” A few grand in nicer amenities or a 5’ house plant and bango tack on another 80k 😂😂😂

@DailyStalkerUpdate

4 ай бұрын

@@JFEnterprize Wut?

@rhondae8222

4 ай бұрын

@@DailyStalkerUpdateBoth of you need to redo grammar school. Lol 😊

@rhondae8222

4 ай бұрын

@@JFEnterprizeCome again?

@rhondae8222

4 ай бұрын

@@DailyStalkerUpdateEnglish, please. 🤔

The perfect storm. Hitting the average Joe from all sides. Condo fees, interest rates, home and car insurance, food, gas could go up again. It's like it was all by design.

@dertythegrower

4 ай бұрын

❤ Mhm.. it is called a corpocracy

@vincentleoni6334

4 ай бұрын

It is by design

@ByDesign333

4 ай бұрын

Corporate rules via technocracy ...we have a new slavery.

@phuchyouh7171

4 ай бұрын

Yes it is by design

@francismarion6400

4 ай бұрын

restrictions of fossil fuels and fertilizer, cars that spy on you, bugs being farmed as a food supply...

Monthly HOA fees are rapidly approaching what rent used to be on these same units just a few years ago. Insane!

@BREEZYM6015

4 ай бұрын

My HOA fees are $253 a month but I'm in Las Vegas and I have a townhome.

@patjohnson742

4 ай бұрын

My HOA fees are $350 annually.

@YourRightSide

4 ай бұрын

Here in Davie, we have $950 HoA

@michaelp5518

4 ай бұрын

In Palmetto, 1431.00

@cicicorleo

4 ай бұрын

Exactly right yep yep

I bought a condo in 2009. It feel like an overpriced apartment. I sold it and bought a small rancher. Couldn't be happier. 💞

@AssetAddict

4 ай бұрын

But did you make money with the condo?

@IkeSpeaksUp

4 ай бұрын

People buy condos to own property in an urban area. Going to buy a rancher shows you wanted space.. So why did you buy a condo if you wanted to live in a suburban or rural area... Makes zero sense.

@JFEnterprize

4 ай бұрын

Isn’t a condo essentially an appartment that you outright own? A home is a home. Granted depending on lot size is practically like a condo with how close people are stuffed together. What’s weird is most of the time people pay extra for that 🙁

@cyrusm3391

4 ай бұрын

​@@IkeSpeaksUp sometimes people dont know what they want until theyve experienced otherwise. Least he tried it out cuz scared money don't make money.

@samanthalake5011

4 ай бұрын

​@@IkeSpeaksUpDid you miss the year I bought the condo?! Don't speak on what you know nothing about, bruh. I was single without children when I bought that condo. Life changes over time and so does ones needs. Duh.

In the Condo I used to live in: From 2000 until 2023 Condo fees soared from $175 to $995. An almost 500% increase!!

@mjones8459

3 ай бұрын

Wow! I heard abt this huge increase. That's crazy 😧 u r better off getting a small 🏡

@craighouse1279

2 ай бұрын

How do you dissolve an HOA?

@LK-bz9sk

2 ай бұрын

So you own a condo, and then it costs more and more for the HOA fees, until essentially you have another mortgage payment….insane

@MrPatrick1414

2 ай бұрын

@@LK-bz9sk That's right.. Well I paid off the first mortgage but now I have the HOA mortgage that will never end!

@kashak5941

2 ай бұрын

You people bought in the wrong place. I have lived in my condo for 6 years. No problems. The condo fee on a unit that would cost a minimum of half a million dollars in Miami was $35 a month then and is $35 a month now. My real estate taxes were zero then and are zero now because I have less than 100 square meters. It is a gated community with a lot of kids. My unit is 8 years old and half were built 4 years ago. It is a completed development with no new construction in the last 4 years. Most units are owner occupied.

I’m glad I tried an HOA when I was younger. I’ll never do it ever again. HOA’s are horrible.

@leelaural

3 ай бұрын

we apparently have some sort of HOA from over 32 yrs ago...we live in the country on 5 acres...no meetings, no officers,no committees, no fees....the people that initiated the HOA are no longer living here....

@marklane870

3 ай бұрын

It's not so bad here on the beach 🏖️ no worries, low pressure mon

@erikdominguez923

3 ай бұрын

It should only apply to the rich or retired gated communities where they can barely lift a finger to do anything.

@2004mojo

2 ай бұрын

I've never understood people buying property that's governed by an HOA!! You can't make a move without their approval. They can get petty over something a simple as painting or not painting a mailbox. Many condo board members give friends & family contracts to get kickbacks. They also go after people with their attack lawyers & many people ended up losing their home over condo fees they protested! Nope I never understood it.

@marklane870

2 ай бұрын

It's actually nice having all monthly bills in one payment, not mowing grass, fixing the roof, etc. not for everyone but after you've lived in a house over twenty years it gets old, tiring and very time consuming unless you like work...find a good community is key to your concerns

Condos for sale in Daytona Beach are sitting longer. As an agent here, the golden question is to ask if the special assessments have been paid up, and if not, what will they be? If they can't provide you with a clear response, run away 😮

@tspcocktail

4 ай бұрын

🎯🎯🎯✔️

@4everu984

3 ай бұрын

❤

@mangos2888

3 ай бұрын

If they're sitting longer, it just means they're overpriced

@veronicaegidio2374

3 ай бұрын

@@mangos2888 not here, you can get a 1 bd 1 bath for 175k on Daytona Beach,, but again the HOA fees can run up to $900 a month

@charleshammer2928

3 ай бұрын

​@@mangos2888 yup

We were thinking about buying a condo in Florida, potentially something in the general area of Tampa. Part of the year we would live in it ourselves and the rest of the year we would use it as an Airbnb. Then we started looking at the HOA fees and changed our minds about condos. So then we started thinking about houses with a swimming pool, but shortly after that I started seeing videos on KZread like this one that warned about insurance costs. Now we think when we want to go to Florida we will just stay at hotels.

@Gardis72

4 ай бұрын

I had the same goal, but not Airbnb. I'm sitting it out. Too much turmoil, mortgages still at 7%. Renting looking very attractive about now. Or as you said, God bless hotels. I could stay at a hotel in the winter for $135/day, at the end of the season, yes it cost some money, but you hand the keys back and say bye bye until next January!

@alyross2850

4 ай бұрын

This is the conclusion most of us have come to, unfortunately. I’m glad you thought better about buying that condo.

@Gardis72

4 ай бұрын

The odd thing is, the more people who think like we do, a complete meltdown in the condo market would simply have to follow, logically, no? I don't really see that happening as of this moment, but no doubt, I've noticed a doubling of inventory in what I am/was looking for.

@joebudi5136

4 ай бұрын

Tampa and st pete don't allow air b n bs in a lot of areas. You better look into it. St Pete and New port Richie are the cutest towns with city population.

@Jackie-lg4tt

4 ай бұрын

What was the HOA fee

I own a condo in Ft. Myers. It's a nightmare here. Condo fees up 250% in two years. Inventory has tripled in my community. Clueless owners refuse to lower their prices.

@ralphpal

4 ай бұрын

Tell blackrock to stop buying houses

@bigradwolf5001

4 ай бұрын

How much is the value now monthly?

@cjhoward409

4 ай бұрын

I have seen prices slowly dropping now. I’ve seen zero listings where the prices are going up. But they’re not dropping enough. Saw a 1.2 mil house for sale where they dropped the price $15,000. Oh boy 😂

@bigradwolf5001

4 ай бұрын

@@cjhoward409 Should drop $550K instead. Who'd buy a house with small pool for more than $600K?

@armandhmmr

4 ай бұрын

I'm in Fort Myers too. Couldn't be happier. Getting more affluent people in our building who can write a check and not complain about assessments.

No HOA fees living in my 1991 Caprice station wagon lol 😂

@fredkraus9180

4 ай бұрын

😂

@katydid2877

4 ай бұрын

Vintage👍

@chadsmith7075

4 ай бұрын

i have a new caprice fee😊

@SkywalkerPMs

4 ай бұрын

G body dude!

@carefulconsumer8682

4 ай бұрын

Probably needs new shock absorbers and strutts by now.

One reason why condos getting so expensive is because all these Developers are tearing down the old condo buildings and building massive high rises nobody can afford!

@marcushennings9513

4 ай бұрын

I can only wonder how weak many have become from the winds and stress of all the hurricanes over the decades.

@Viperness

4 ай бұрын

Why is this?

@georgeallen7667

4 ай бұрын

You cannot afford it. Lol, not everybody

@dlmcc0202

4 ай бұрын

@@marcushennings9513that’s exactly why there’s been such a push to enact laws to force condos to make the repairs. Most people underestimate just how bad that wind blowing the saltwater erodes a building over time. Many of these condos put doing the repairs off for years and now the cost is going to huge being forced by the state to do it all at once

@jdmather5755

4 ай бұрын

If nobody can afford the new condos, how are the Developers making money? What is the logic? There is no shortage of rich people who certainly can afford these condos.

Bought my condo at Hyde midtown in 2018 sold in 2023. Made $100 but lucky to get out. HOA became out of control.

@ca9777

4 ай бұрын

You mean $100,000 right?

@BREEZYM6015

4 ай бұрын

At least you weren't underwater when selling. $100 is better than nothing. 😂

@hideoussails1783

4 ай бұрын

​@@BREEZYM6015maybe that's after the realtor fees 😂

@sokaiya1

4 ай бұрын

@@ca9777 $100

@bigradwolf5001

4 ай бұрын

@@ca9777 What made you think $100,000? Many people selling for a loss to escape high fees and you are saying a gain of ...not just $100.

The only way is to tell your realtor you won't even look at any home for rent or sale home with an HOA. You have the power people!!!!!!

That means your HOA is gonna be more than your house payment.

@blackworldtraveler3711

4 ай бұрын

What house payment?

@BREEZYM6015

4 ай бұрын

​@@blackworldtraveler3711When did you pay off your house?

@blackworldtraveler3711

4 ай бұрын

@@BREEZYM6015 I don’t like debt and mortgage payments. Prefer lifestyle with few expenses and zero debt. Paid off primary home in nine years over 15 years ago. Bought a $560k short sale condo for $240k cash after 2008 housing crash in Marco Island area.

@edmardt

4 ай бұрын

@@blackworldtraveler3711 Same here, paid cash in Englewood

@lilishyta-ep4wr

4 ай бұрын

New way stealing from average Joe.

I was planning to purchase a condo in Florida to retire in 3 years, now I wouldn’t touch one even if prices dropped 80%

@ellenhaas3769

4 ай бұрын

Thank you. Stay up there with your kinfolk.

@blackworldtraveler3711

4 ай бұрын

You’re 16 years too late anyway and better to pay with cash to eliminate monthly mortgage. There were $300k condos going for $60k after housing crash in 2008. I remember this so well because it made national news and signaled that it was time to fly down there and do some home shopping. Bought my $560k newly remodeled dream condo as second home for $240k cash on Marco Island after crash. Built with updated codes in the 90s on raised land and structure,hurricane resistant,reinforced push button shutters,etc.. Retired debt free in 2020.

@paradise6606

4 ай бұрын

You're better off leaving the country. America is going down hill.

@itguru2037

4 ай бұрын

@@blackworldtraveler3711you’re not debt free. You have to pay HOA

@junal27

3 ай бұрын

@@blackworldtraveler3711 What is your point buddy?, eres el listo de la clase y los demas somos gilipollas y solo te envidiamos? seguro que no tienen ni 50 tacos, la verdad es que hay personajes para todo

Lived in an HOA condo run by owners and some of them made residents absolutely miserable - new rules and always a decrease in amenities. Obnoxious busy-bodies out for power. That was almost 20 years ago and now I own a plain old small bungalow and I am my own HOA.

A high rise condo in a state known for hurricanes and sink holes? No thanks

@tif8266

4 ай бұрын

Right? Might as well buy a trailer in tornado alley.

@TheBeagle1956

4 ай бұрын

Sinkholes are mainly in central west Florida. Southern Florida is pretty safe.

@Vladlll

4 ай бұрын

Cope.. You couldn’t afford to live there anyways.

@BREEZYM6015

4 ай бұрын

Take a risk once in a while. 😂

@Mhel2023

4 ай бұрын

​@BREEZYM6015 lol I'm retired living in a high rise in Manila Philippines. Yolo 😂

An insurance lady in St. Pete said the insurance company won't insure a roof if its past 12 years old, that's insane! Roofs should last 30 years!

@00inwiththenew00

4 ай бұрын

15 years. But the change in the law would allow for an inspection to certify the roof is in good condition if older than 15 yrs

@user-ps1ft1hy4j

4 ай бұрын

@@00inwiththenew00 30 years is the norm where I live. And for insurance purposes, the actual condition of the roof does not matter. Full stop.

@lk7195

4 ай бұрын

maybe a metal roof but shingles maybe 15 years

@greensandbeansgaming1358

4 ай бұрын

@@lk7195 OMG every 15 years people are shelling out 15k for a new roof?

@user-ps1ft1hy4j

4 ай бұрын

@@greensandbeansgaming1358 No.

Florida is such a beautiful state to spend time or live I'm rooting for you and wish you the best of luck

@user-kk3qg5el1m

4 ай бұрын

There are many beautiful states, people are just caught up in a Florida trend and it will leave many of them penniless

@bigradwolf5001

4 ай бұрын

@@user-kk3qg5el1m It's just natural progression...people who now can't afford it would sell and people who can will replace them. Wash, rinse, repeat.

HOA I lose interest, no f-inn way do I accept that ball and chain!

@jkmarshall3553

4 ай бұрын

Only the insane would.

@lorihoop3831

4 ай бұрын

Immediately a no, even if I LOVE the house. No way

@BREEZYM6015

4 ай бұрын

Good luck finding a place that doesn't have HOA fees.

@TheRedcroatian

4 ай бұрын

@@BREEZYM6015 I found one, it was my only prerequisite before renting a house. Don't need no fucken pool!

@blackworldtraveler3711

4 ай бұрын

@@BREEZYM6015 And marriage.

When I was in 8th grade in Largo (Gulf coast) it was 1972. Disney had just opened and the state was booming. Again. I got mom to drive me around Pinellas county and film all the development including a number of beach towers not unlike Champlain West. Same basic product and design. I remember wondering at the time: If all of this stuff is built at the same time, won't it all wear out at around the same time? Anyway, my epic "Rape of a County" got me an A in science class. Remember the environmental movement was only a couple of years old.

@hvaper7855

4 ай бұрын

Good point! 50+ years old buildings!? My advice to all that live in that area: GET THE HECK OUT OF DODGE WHILE THE GITTIN' IS GOOD!

@ellenhaas3769

4 ай бұрын

Quality of materials and diligence in inspections and maintenance and proximity to salt water all are factors. Champlain towers was unique in its neglect.

@trentbateman

3 ай бұрын

What did you do for a career?

@gailcarey3597

3 ай бұрын

I’m watching a rerun of Orange County. California happening in South Carolina. Log trucks and construction vehicles are scalping our forests and subpar homes are being thrown up. Those homes will have major problems in a short time.

MY HOA's on 3 condos in Broward went from $435mth. to $923. Translated, my cash flow on 3 owned units went from $3,800 to $1,150. after insurance is added.

Sounds like concrete slabs with W/S/E hookups for RV’s that can hookup and leave when the hurricanes come are the way to go!!!

@Plumeria1

4 ай бұрын

Anyone would be in for a world of hurt if they really tried to exit the state at the same time as tens of thousands of other people doing the same thing.

@herbertenglish3540

3 ай бұрын

pretty good idea actually .

@randylahey8207

3 ай бұрын

Have you seen those roads once the hurricane warnings go out? Stand still traffic for hours, complete and total shit show. If the plan is just up and leave for the entire hurricane season, that I can understand...

@sassykat2000

3 ай бұрын

​@@randylahey8207That's the idea. Travel during Hurricane season and settle in the rest of the time. Perfect.

Condo fees have always been a huge reason i'd never buy one!

Florida still doesn't tax your income but will raise all taxes, tolls and fees to make up for it.

@DrSchor

4 ай бұрын

better the money comes from everyone than just from those of us with a high income, don't you agree?

It is getting expensive to live in Florida but it is expensive all over the country.

@jacksons1010

4 ай бұрын

Nah, Nebraska is cheap. Iowa, Indiana, Kentucky…pretty cheap too. It’s just that nobody dreams of moving to Omaha (except Les Nessman).

@chantalle7340

3 ай бұрын

My friends & family up & down the East Coast have told me their tax & insurance prices have also increased.

@aslanjudah33

3 ай бұрын

​@@jacksons1010Part of those States are part of a nuclear disaster area if a major war happened 😅

@ZaKRo-bx7lp

2 ай бұрын

​@@jacksons1010and Peyton Manning

Over 20 years ago my first mortgaged home was a condo. Mortgage was $900, HOA was another $250. So the HOA was 25% of the mortgage and the HOA did very little to justify it. Thankfully, I sold right before the 2006 collapse, and the HOA was planning a huge special assessment to do a lot of long-overdue repairs. Those condo prices collapsed for about 15 years, and are only now higher. However those HOAs are likely huge at this point, really crushing any owners. It was a nice starter home and I did well but glad I unloaded it when I did.

Any situation where an investor group picks up more property and working people are forced out and removed from ownership is a BIG LOSS.

@dyates6380

4 ай бұрын

Agreed. However, the investor groups, who have been buying up everything in sight for years, including homes in less than desirable areas, are just getting ahead of the business curve - because if one group or individual doesn't do it another will. With twelve million illegals (and counting) strolling across the totally open southern border the past three and a half years and with the VAST majority of them not being able to house themselves, they (investment groups) are in line to make a TON of money because you KNOW the taxpayers will be footing the bill for the housing and they're just providing the places to put them. Just ONE reason why I'm not selling my three bedroom bungalow that I now rent out. I'll hold on to it because it will be a nice nest egg in addition to my home I live in now. You can't blame them for being ahead of the game if this government wants to shoot down the average American, put them at the back of the line and continue with the replacement theory, which is exactly what's happening. I'm WITH YOU on the big loss thing goes, but what's the alternative? The democrats have set the wheels in motion, and your grandkids - or really, your kids possibly - won't even know this once great republic. It's gone.

@bigradwolf5001

4 ай бұрын

Yeah but coasts are for the rich folks, don't worry there's still alot of affordable inland in America and we still have untapped tons of reserve parks that we can carve out for residency in the future.

@MR..181

4 ай бұрын

USA..

@sassykat2000

3 ай бұрын

Welcome to America. Investors have been taking over in populated areas for YEARS.

I lived in a Condo in Vancouver and we were held hostage by owners who refused to pay for building envelope upkeep. Eventually we were forced to do emergency repairs and the exterior had deteriorated so much we ended up being billed with a special assessment of 42,000 per unit. It would have been a fraction of that if we had been allowed to stay on top of maintenance. I've since bought a non strata house in a small town outside of Vancouver and ironically it's much cheaper without all the condo fees. It just requires that I do some of the work myself which I enjoy. Last I heard their maintenance fees had gone up from 330/month to 500/month and that was 4 years ago. For a one bedroom box.

In the last bubble, condos were the last type of property to increase in price, but in the downturn condos were the first to decrease.

@idealproperties4239

4 ай бұрын

maybe because in the poorly run communities with many units in foreclosure with most NOT paying dues and then the bank who took them over not required to pay the association its back dues, condos were a mixed bag.

I'm paying double my HOA fees for my condo since when i bought it in 2010. My condo is now 4 times what I paid for it and it is paid off. But those HOA fees are insane. My dad's HOA fees are just about more than his monthly mortgage payments on his condo. The housing market can't keep that up.

@rv6205

4 ай бұрын

and its only going to get worse

@Galworld761

4 ай бұрын

Deferred maintenance. People bought 30 years ago and voted down all maintenance and now they have to maintain and repair. They pushed the cost onto the next buyer.

@nesq4104

4 ай бұрын

Oh boo hoo. You have. Paid off condo

@charlesgreen9623

4 ай бұрын

Free State of Floridumb.....Thanks, DeSAntis! WE love our shlt sandwich that we ordered.

@armandhmmr

4 ай бұрын

@@nesq4104 We paid cash for our condo in 2021. 400k. Sorry....I'm not apologetic.

HOA has been doing absolutely nothing for its residents. 😮

@TwitX2007

4 ай бұрын

When I bought my house the hoa president stopped by to introduce himself and give me a copy of the covenants- I asked him why we even needed an hoa and his reply was “ to keep the riff raff out” so, I replied “too late” and let him simmer on that.

@dertythegrower

4 ай бұрын

​@@TwitX2007you have a mask 🃏.. irony

@dertythegrower

4 ай бұрын

​​@@TwitX2007a mask..zero content and 350+ subs.. psh, seems legit. 🧐

@TwitX2007

4 ай бұрын

@@dertythegrower you’ve been here long enough to remember the old days of KZread and open livestreams- I happen to be a mod on a channel with 100’s of thousands of viewers who still livestreams and I live-streamed the last solar eclipse and gained a whole lot of subscribers who have since unsubscribed. Grow up, you’re too old to troll.

@KikoValleyMan

4 ай бұрын

@@TwitX2007😂😂❤it

The issue with condo fees and lack of reserves is no different than most city reserves for their infrastructure. Our taxes are really only 30 % of what it takes to support all of the new roads, culverts, bridges, sewer systems, , water pipes, etc.... Why are there still lead pipes in a nation 250 years old???? We have been deferring maintenance for years. Only building new to grow, but not putting a priority on fixing the important stuff.

@sassykat2000

3 ай бұрын

The infrastructure of America is deteriorating more rapidly now because maintenance was never a priority. This is on a national level but also local municipalities haven't maintained things as well. 😢

Once a corporation starts running your HOA it’s all over. My old condo HOA was run by the tenants. The board was not paid. It was run very well, maintenance was hired out, it was clean, and it was safe (even though it wasn’t in the best area). The dues when I first moved there was $90/month. I lived there for 7 years and the dues ended up being $125/month. It was a no frills complex, no pool, no gym, no playground, limited parking, etc… Our dues went to maintenance, insurance, roof fund, and reserves. For some reason other tenants started complaining about our tenant elected HOA board. To settle this the board proposed turning our HOA over to a property management company. I voted no but the proposal passed. Immediately the dues went up to $150/month. Within the next year I moved out (for other reasons). Recently I ran across a unit for sale in my old complex. The HOA is now $350/month. That’s not bad considering that it’s in California, but what more are the tenants getting for an additional $225/month?

@pippythefish5506

4 ай бұрын

Yes, this is true; however, sometimes when it's self-managed you have to deal with embezzlement.

@lmcc0072

4 ай бұрын

@@pippythefish5506 Embezzlement happens with multi million dollar corporations too. The accounting guy was shadowed by the President of the HOA and the secretary. Bank statements were available on request, mostly when a new owners financing was checking into the health of the HOA before approving the loan.

@lmcc0072

4 ай бұрын

@@pippythefish5506 Why do you hope that I don’t sit on a board? It’s know it alls like you that pushed my old HOA into hiring a management company. The result has been a 200% increase in dues without offering a single added benefit. After the management company was hired all of the original board members resigned. All that we had were quarterly meetings at the office of the management company. The main topic of discussion was when were dues going up. I’m glad that I got out when I did as these dues will only continue go up and provide no new value. If there are no checks and balances embezzlement can happen anywhere, including at corporate HOA management companies. Management companies are solely for profit. The $235 extra per month that my former neighbors are paying in dues is a testament to that.

@pippythefish5506

4 ай бұрын

​@@lmcc0072The rantings of Karen.

@lmcc007

4 ай бұрын

@@pippythefish5506When you have nothing intelligent to say you turn to insults. Very childish.

my hoa is $45 but all they do is cut the grass and trim trees in common areas how it should be. owners are responsible for all their buildings.

HOA and insurance fees are going to make my dream of living in South Florida disappear. Unless the market is adjusted to reflect the populace. Hoping companies like Blackrock/Vanguard, as well as foreigners are banned from buying residential properties moving forward. Didn’t work 50 years to watch the prices of homes triple in 3 years. Madness.

@TropicalTodd

4 ай бұрын

Lots of developers building homes all throughout Florida. Maybe the influx of new built inventory will help. I know in my moderate size town; developers are building 3500 new homes.

@MR..181

4 ай бұрын

And taxes and insurance..looters?

@chantalle7340

3 ай бұрын

You’ll find somewhere to live. You have to watch the market & also vacation in several different areas before you decide on where to live. It’s probably best to rent initially so you can leave an area if you don’t like it.

@randylahey8207

3 ай бұрын

Certainly didn't help to have a massive inflow of printed money both during the lockdowns and the last three years, and an entire generation trying to swindle the coming ones out of a 3, 5 or even 10x mark-up on property they bought twenty or thirty years ago. It isn't just Vanguard and Blackrock. The boomers undoubtedly play a large role in this...

There was a building around here where the condo president stole the money. I was briefly an owner there but wasn't ripped off.

Your videos are Great! Thank you for all the information your giving us. It’s truly appreciated.

There are no HOA fees for my friend. He's now living in a VAN down by the RIVER .

@scotmandel6699

4 ай бұрын

not yet anyway

@VanLifeByTheRiver

4 ай бұрын

Actually sounds pretty cool to me!

@islesofshoals3551

4 ай бұрын

Is his name Matt Foley?

@BullseyeBob1

2 ай бұрын

Thrice divorced and eating government cheese after smoking a doobie.

Thank you MICHAEL for your time & effort to better peoples lives….❤🇮🇹

Forensic accounting of HOA funds will be coming. Never underestimate greed.

@sassykat2000

3 ай бұрын

One. Hundred. Percent.

Thank you, Michael. Good information.

Your content and delivery style are fabulous. I Always enjoy.

I don't live in Florida but I love your channel thanks for the info.

@Orlando_Steve

4 ай бұрын

I hope Michael has convinced you never to move here. We are full.

@love2rideone2

4 ай бұрын

@@Orlando_Steve no I watch real state because hopefully gold and silver will rise in price and I will buy in a cheap place I hate humidity and polen bothers me so Texas New Mexico or Colorado but just depends on the kind of people if they have left win ideologies I stay away if they don't allow me to carry a gun, I don't want to be there either.

Happening in northern Virginia too, HOA fees are insanely high for some properties, including new ones that I presume are not falling apart. Impossible situation for families looking to find a place to live.

Thanks for bringing light to this topic

Yea You spitting the truth again ! Much Thanks ! For Keeping it ReAL!

GREETINGS MICHAEL 💦🏄‍♀️

Buying a home in an HOA and/or in an area that has no cap on increases in assessed value and tax is like signing a blank check. You will eventually be priced out of your home.

@MR..181

4 ай бұрын

Exactly.. pink elephant..

@psidvicious

4 ай бұрын

HOA’s are non-profit corporations. They can only assess what expenses are. It’s not a random fee going into someone’s pocket.

Michael. I love you content. It's so informative and it's appreciated.

Very very very good analysis & explanation!!! I am a longtime landlord in NC. Thank you Michael.

I lived in a condo in Chicago in the 90's. IL law required condominiums to have reserves and conduct reserve reviews. My understanding is the older buildings are often bought out because the building doesn't have the current level of amenities, and the developer can add the amenities and get higher rents, especially in desirable areas.

@chicagonorthcoast

3 ай бұрын

I'm a Chicago condo owner and can tell you that the law does not require a reserve, but mortgage lenders and insurers do take a very close look at your association's financial situation and strongly favor associations with healthy reserves. Yet dozens of buildings have NO reserve, including huge, wealthy downtown high-rise buildings that are now reaching the age where buildings start to need major capital upgrades and confront higher maintenance costs. I'm on our Board, and while our reserve is hardly ever tapped, we are aware that we're slightly underfunded thanks to previous Board members who resisted raising the HOA in keeping with inflation, so we are now focused on funding our reserve to a healthy level, which is at least equal to the building's yearly budget.

Even Jerome Powell in his post rate hike decision press conference today mentioned the home real estate market is experiencing problems. He attributed the problems to high mortgage rates but the problems with home ownership goes beyond just interest rates. I have noticed many of the Florida real estate You tube channels are correctly identifying the issues facing homeowners in Florida but I have yet to hear solid solutions to these problems. Until a crisis arrives and people demand a solution homeowners will have to grind it out. Just hope hurricane season stays inert this year for you folks because that would create more problems.

@ralphpal

4 ай бұрын

Tell.blackrock to.sell.all.their prices Forbid airbnb Easy

@itguru2037

4 ай бұрын

10000 percent agree

🎉🎉🎉 Hey Michael 👋🏼 You never cease to amaze me with what you bring to us. Our entire Real Estate Market is absolutely bonkers and I really don’t know what will fix it other than a Huge CRASH 💥 and I do see that happening. Blessings, C Los

Well done, Michael Bordenaro. I subscribed and shared.

Roof leaks at Crooked Creek HOA in Sarasota, Florida. Problems never end.

Thank you to our host for this outdoor walking tour. Always learn a lot. Really feel for retirees and others on a fixed budget when new laws kick in in 2025.

@chrisweidner4768

4 ай бұрын

Imagine the joy we feel after working 50 years only to see our dreams triple in cost. 🙄

@Mhel2023

4 ай бұрын

This retiree moved to SE Asia last October. Some of us consider living outside the US due to all the madness that's going on there rn. Mexico, DR, Colombia, Phils, Thailand, some of Europe, etc

@chrisweidner4768

4 ай бұрын

@@Mhel2023 Indeed. I taught English in Vietnam for 15 years. Back home taking care of my dad. When he passes was thinking of returning, as my money would, easily, go twice as far. Can’t. My wife is Vietnamese and she will never leave the USA. All good. Just have to work on bettering our Republic.

I see. Thank you for responding!!It’s really a shame -- puts people in a really bad financial position.

Love how Jack is now in your recs ;)

i made money on condo's in NJ. I hate them now. I cant stand the politics and drama- like a disfunctional family. never again. Single families or a building.

Live in a nice trailer on your own land and save your money in insurance and fees..... It pays off..... When it gets destroyed just roll in another.😊

I am so impressed with your ability to not only walk and speak without even a pause and at the same time speak so well and speak so eloquently. Great job.

Thanks Michael for the great info. Things are crazy and it’s so unfair that “government policies” caused this havoc. They just keep digging the hole deeper.

Why would anyone buy a condo with those high HOA fees and insurance?

I am president of a smaller highrise condo. We work hard to give owners good value. But costs go up and insurance is out of control. Thing is homeowners and renters face the same issues in a similar location.

@sassykat2000

3 ай бұрын

Except renters can get out. They can move. If you're a condo owner that needs to sell there's a big problem there.

Good point about the expenses in the rental market, that's not factoring in if your renters even pay the rent.

I like your on-point delivery. Subbed. Sidebar: I love seeing the various neighborhoods/houses you walk through during your vids. I went to Miami Beach in 77' and eloped with my 16 year old girlfriend. We stayed at the Wentworth Hotel, though I can find no record of it.

Glad I didn’t buy a condo. Wish rents were cheaper, I’d just rent. Everything is just too high. Ridiculous.

@Orlando_Steve

4 ай бұрын

Rent a condo. More cost effective than an apartment. No way I'd buy one.

@joeshmoe7899

4 ай бұрын

Rent vs buy calculator says it is far cheaper to rent, in my area. I' m guessing the owner of my apartment is hoping for equity gains, because rent isn't paying his bills.

@t4nk3d402

4 ай бұрын

@@Orlando_Steve thats called an apartment

@Orlando_Steve

4 ай бұрын

@@t4nk3d402 Nope apartments are big, multi-story prison-like structures that you rent from a corporation. Condos, the kind I'm talking about, are townhouse-like and you can park right in front of them and walk in your door. I wouldn't rent the big ones by the beach. Those are overpriced and may collapse at any time.

@bigradwolf5001

4 ай бұрын

The key is to buy a small size condo because all these talks of HOA, insurance and taxes are based off on size. Even monthly electricity is based on size -- the smaller, the faster it cools or heats, the cheaper the bill. So would I rather want to pay more monthly or less monthly? Hmmmm.....

I live in a HOA community in rural IL. We have an 18 hole championship golf course, a private lake for my jet ski, ATV and Horse riding trails, swimming pools indoor and out, a ski hill, and many other things. They just raised my HOA fees to $212 per month!!! I may move if it keeps going up.

@jimshoe402

4 ай бұрын

Is that like Lombard( 4 seasons) it was a Singles thing like 40 years ago ??? Bars and ect worked near there ..😁😁😁😁

@louannhuber2651

4 ай бұрын

In my Hoffman Estates PUD homeowners favored low Hoa fees over building reserves for deferred maintenance. There was a coup to throw out the board (I was the president) and new board members spent reserves down to nothing mainly for renewing landscaping. Now their ass will be grass as roofs and buildings continue to deteriorate and attorneys require adequate reserves for buyers. Dues are now $350 but are still too low for what is around the corner.

@dmimcg

4 ай бұрын

how much per month are the HOA fees? In the IL HOA I live they just went over $200 per month. I guess Prickster needs some more fast food. Insane@@louannhuber2651

@jayhatz1226

4 ай бұрын

You’re joking, right?

@IrishAnnie

3 ай бұрын

Ours is over $300.

So sad, I'd never live in one, we've had too many added here in Pointe Claire, Québec, unbelivable, how is that living, 😝, good luck everyone!

I deliver for amazon and I see condos in LA doing renovations adding steel to the lower levels I have even seen 2x4s holding up walkways from the bottom floor all the way up.

the goal is to make as many people as possible renters.

@Seafarer62

4 ай бұрын

That's right, Gregory. "In 2030, you will own nothing.... and be happy." World Economic Forum- Klas Schwab.

@skylady64ish93

2 ай бұрын

15 minute cities are coming.

I remember seeing your old neighbor in the Michael Moore film! I always thought of myself as a vulture since watching that. Swooping in on the carnage ;-)

@steelisthemeal

4 ай бұрын

Mikey more & more 🍩

@BruceLee-xn3nn

4 ай бұрын

Was that the film where a clip of Ronald Reagan was making a speech and a big wig from Merrell Lynch told Regan to hurry up?

Very interesting Recon on Florida , Greetings from Sydney Australia 👍

Thanks 4 "Down-2-Earth" 😎 reportage ⭐️

Ben Grieco has a KZread channel that focuses on the Port Charlotte/ Punta Gorda market. He’s been sounding the alarm for months

One hot water heater replacement, or worse furnace or air conditioner unit replacement and all profit is gone. Or a roof replacement. It gets expensive fast.

So thankful our hoa association has great management! And we do not have to worry about horrible weather Florida can get. Our reserves are met and our board meets with us every 2 months. Florida is and always will be in a different world.

@MR..181

4 ай бұрын

Delusion seller?

Mike you have been right about the condos, and ASS-ociations for a long time. Insurance and Reserves are going to kill the market for them. Good Show.

Always document everything 😅

I cannot imagine, particularly in this economy, having to pay something as fluffy as HOA fees, especially on a condo. Before you know it, people will be paying HOA fees on grace plot.🤦🏽‍♀️

Excellent content

That's a gorgeous place you're in.

It seems like Florida has extremely poor laws regarding reserves.

@eattherich9215

4 ай бұрын

The collapse of Champlain towers was a rude awakening.

Lets just all live in tents! The homeless are smarter than we thought. They live in tents, pay no property tax, HOAs, insurance, rent, maintenance costs.

@RichmondStar510

4 ай бұрын

😂😂😂

@suzannederringer1607

4 ай бұрын

Hard to live without a bathroom

@Coffeaddictedcinephile87

4 ай бұрын

@@suzannederringer1607 just shit on the sidewalk

@analyticalhabitrails9857

4 ай бұрын

Lol! Dang.

@pl6035

4 ай бұрын

You will own nothing and be happy ...Klaus schwab world economic forum.

Great report! I was just saved by bell. Almost got into old condo in CA. Then research showed me new condo laws in CA building will require major assessment inspections when condos hit 40 years and after building hits 50 years then indpections every 10 years. If you buy condo look after 2014. If not, best wait rent until you can buy a house in a good area and do check the geological reports for area.

Mike you were on your game today brother! You laid it out plain and simple for everyone. We fsce slmost the exact same situations about value, HOA fees, condo fees, air bnb regs constantly changing, etc. Going house to condo is an adjustment yes.... going condo to house to escape maint fees? Ok.... but add in a TON of variables that could break you into pieces if not ready. As you say CONSTANTLY, do your homework. Or prepare for the rude awakening. Good video Mike. Straight to the pt. Do me a favor.... up front.. post or mention at least what street you on for your vids. Thanx. Aloha. 🤙

I used to own a condo and I owned it outright and it HOA new that and falsely claimed I owed fees and even though I had receipts they wanted me to sell my home or they were going to forcibly foreclose it was an absolute nightmare

@HawaiiGaymer

2 ай бұрын

They wanted you to sell instead of working out payments? What ended up happening?

Wild stuff

@bookkeepingtipswithty

4 ай бұрын

Buckle up!

Very good information 🎉🎉🎉🎉🎉

Well said. Agree, Champlain really highlighted that scammers had corners building and skirted codes. Now people are in real danger as the buildings are getting old. Maintenance was not kept up. I’d get out of those types of building asap. The protective laws are necessary. Insurance companies are naturally going to charge more. Simple rules of supply and demand will eventually balance things. People will stop buying and move away. But It will take some time. And Your insights on real investment profitability are right on target. Cheers.

Condo owners about to get hammered. Hoa fees, special assessments for structural issues, and insurance costs cause them to run fast

$100 - $350 hoa fees sounds like the average hoa fees on single family housing communities; condos and townhouses absolutely are going to be more.

Thank you for the video!

Great video.

My neighbors bought a house in 30A 8 months ago, specifically to Air B&B it. They also hold seminars with a lender talking about leveraging their home equity to do things like this. Curious how that area is being effective? I have had short-term rentals in Colorado ski towns, and it's incredibly difficult to keep it rented because of the corporate ownerships doing the same thing.

In 2000, my Lahaina Maui condo fees for a 2bdrm/2ba were $600 p/mo. I sold, now it's plain Gone by the fire.

@annabodot962

4 ай бұрын

So sorry. Are people getting assistance? Haven’t heard much lately but I just hope the homeowners are made whole?

Love your channel.