Crisis Hitting Florida Just Reset the Housing Market for Every Person Waiting For Prices to Plummet
Vložit
- čas přidán 8. 09. 2024
- Crisis Hitting Florida Just Reset the Housing Market for Every Person Waiting For Prices to Plummet
❤️PLEASE LIKE and SUBSCRIBE: bit.ly/chrisigoe1
CONNECT WITH BEST REAL ESTATE PROFESSIONAL HERE: bit.ly/realest...
🇺🇸 FREE RELOCATION GUIDE: bit.ly/Southfl... 🇺🇸
REALTOR: CHRIS IGOE
📲 Email: chris@igoehomegroup.com
📲 Call/Text: 561-516-2442
-----------------------------------------------------------------------------------------------------------------------
📧 For Business Inquiries 📧
Mail: chris@igoehomegroup.com
-----------------------------------------------------------------------------------------------------------------------
Thank you for watching and all your support - reach out anytime
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting me so I can continue to provide you with free content each week!
Legal Disclosure: I’m not a financial advisor, lawyer, analyst or accountant. The information contained in this video is for entertainment purposes only. Before investing please consult a licensed professional. Any stock, real estate, or any other purchases I show on video should not be considered “investment recommendations” or investment advice. I shall not be held liable for any losses you may incur for investing and trading in the stock market (or any other market) in an attempt to mirror what I do. Unless investments are FDIC insured they may decline in value and/or disappear entirely. Please be careful!
#housingmarket #realestate #florida
❤PLEASE LIKE and SUBSCRIBE: bit.ly/chrisigoe1
🏡 MEET CHRIS: calendly.com/chrisigoe/15min 🏡
🇺🇸 FREE RELOCATION GUIDE: bit.ly/SouthfloridaRelocationGuide 🇺🇸
You sir are spot on mate and as a Floridian 🤬 all, it will collapse when those who can't watch Netflix or play Xbox anymore come to their reality and come out of their comfort zone and act.
I am a native Floridian and I already left. It is so sad what has happened to my state.
Man, it's starting to sound like ny and cali
Amazing how you FAILED to mention our Florida Homeowners Insurance Crisis in more detail. We have seen our rates increase 300-500% in the past 2 years! Due to the fraud going on in the roofing industry.
I've lived here for 30 years, retired 2 years ago, and hope to move this year. Thanks to the Insurance Crisis, Florida is NO longer an affordable place to retire.
They've obviously got a gripe with what they perceive as Democratic states since they don't mention Florida. I wish the Fl Governor could do something to help the Florida homeowners Insurance situation.
@@Rick27X. Insurance has gone up massively in every state! Pay off your mtg. and self-insure! I did!
We are having the same problem in LA. My insurance has increased my note on my rental house and my main home by $500 a mth. I can't even find an insurance company that will write new policies. I have LA Citizens, the insurer of last resort, on my rental, and my insurer on my main home just increased the rate to make my mortgage note $300 a mth more. On top of that, we just found out that there was major insurance fraud going on in the state. Companies transferred their assets just before declaring bankruptcy to get out of paying claims.
That is what happens when you have other cultures invade and take over like the Yankees have done for years now. YOU NEVER MIX CULTURES ! IT NEVER HAS WORKED AND NEVER WILL !! The US has tried to take over the South nation for the past 165 years ! Has only made more war between the two nations. The pushy domineering Yankees will never make us like them ! North and South nations are made of totally opposite natures ! THEY WILL NEVER FORCE OIL AND WATER TO MIX ?!!!!
Roofers have a powerful lobby and deep pockets
As someone who lives in Florida, and has lived here for over 30 years now, I can tell you that properties here are way over valued right now. The one thing we don't have here is state income tax.
when everyone moves to your state and leaves the other states... what did everyone expect to happen. we are experincing the same thing. SC housing going through the roof cause these places are making there people leave.
Im from California i invest in Florida. You guys have ZERO RENT CONTROL. WE LOVE IT
Hilarious..no state tax. They will get it out of you one way or another.
@kellyname5733 Our vehicle registration costs are really low, our property taxes, for the 2.4 acres we currently own are less than $1,000 a year (my family, in New England, pay $5k-$6k a year in property taxes, and they have a state income tax). So, no. What you're saying isn't true.
FL property tax and insurance crisis
Florida Realtor here. Market is slow in here... (interest rates, insurance rates, and inflation /economy worries). The thing about the cash buyers who aren't worried about the interest rates... They know that they have no competition from buyers using mortgages. Therefore, a cash buyer does not want to buy a property for the price that it was at the top of the bubble. They are looking for big discounts and deals. Those deals are just now starting to show up in the market. The cash buyers are all making "low ball" offers at this point. The buyers and the sellers are far apart at this point on price, so the market is not moving. We will have to see more desperation on the part of the sellers to get in line with what cash buyers are willing to spend. There are exceptions to the rule, but this is what is going on here in FL in general right now.
Sellers need a reality check, homes are wayyyy overpriced!
True but sellers are reluctant because they have low rates currently and can't repeat that. Also, they have not gotten their heads around the fact that it was worth a lot more and now the difference is drastic - not going to sell unless they get desperate. And if they do get desperate...where do they go that is cheaper?
@@JulianoVitiello
You are exactly right, I'm a cash buyer and I won't drive the market by buying until prices come down.
Agreed 👍 you are indeed wise to the market
Prices are slowly going down in Brevard county as well. Such a chaotic market Sellers don’t even take CMAs in consideration.
“Still under $600,000 in Boynton Beach” where the schools and crime suck and you get to pay a premium for it
NY is not a loser state it's too important. What is a loser is the politicians, they have ruined it
Years ago I was looking to buy land in upstate NY. Then they elected Billary to the senate. I scrapped the idea. I couldn't live in a state with that many stupid people.
💯
Is no reason stay in NYC
And yet you keep voting for these politicians. When will New Yorkers wake up??
Institutional buyers.........."You will own nothing and be happy".
Obama said that
$5000 a year for 1000 square foot house in Florida for Homoowner insurance. I sold the house. I live in my Van... now can afford it
Im a native of florida, 1970. For a variety of issues, living in Florida sucks now. It used to be really great and it saddens and angers me. I plan on leaving
We don't want to leave either but quality of life has decreased markedly and Northerners so not culturally adapt. Our environment is being sacrificed to 3 story condos for invaders
So lesson of the story... Get out of Florida is you are a teacher, service employee, or anyone making less than 6 figures.
Now is Not the time to buy anywhere. Possibly the end of the year beginning of 2025. The market will crash hard this year and housing prices will drop significantly. Don't listen to realtors trying to make a buck in a failing market because if you do you will lose everything. Be patient.
This housing crisis is NOT like those of the past. In the NorthEast there is a SEVERE housing shortage. Bidding wars are typical.
There is value on having a roof over your head. Not all counties have excess inventory or dropping prices
Supply and Demand - Airbnb's & Wallstreet have snatched up a large % of housing so unless they liquidate I don't see bottom dropping out.
As long as NY money keeps pouring into FL, prices are going one direction: UP.
As long as they don't bring their liberal democrat mindset.
yes, tis happened in AZ in 2008, along with rich Californians
Florida hell NO. Who the hell can afford the insurance that is 'IF' you can even get insurance
that is complete BS, they are not coming to Florida. Biggest lies. I am in Florida and prices are going down and nobody is buying
Florida is mostly new york people any way
Yeah it sucks
Vote Republican and fight against voter fraud
NY might be a sh*thole but that doesnt make FL real estate cashflow
Even as a cash buyer I can barely cashflow Florida properties especially condos and single family homes. Taxes, insurance and HOAs are obscene right now. It’s cheaper for people to rent than own in Florida.
@@GaltsGWhy are you in an HOA? My rental house isn't, and it cashflows OK, though it was better in the old days.
I won't be surprised if Eric Adams retires in Florida. Hypocrisy is a Liberal trademark
Hypocrisy is a Cuckservatives Trademark there I fixed it for you! 🤡
Idiotic remark.
No libtards allowed in FL.
@@harrietcolbert1119 triggered by the truth
FLORIDA IS A Confederate STATE AND IF YOU DON'T KNOW WHAT THAT MEANS YOU HAD BETTER STAY AWAY , WE DO NOT WELCOME LIBS OR ITS LIKE HERE ! FLORIDA IS VERY CONSERVATIVE AND CHRISTIAN. DEMS HAVE NO PLACE HERE !!
Most of the very rich already have homes in Florida. Many will not leave Manhattan permanently. I think middle class are more motivated to go. However, now with prices in Florida incrasing, cost of homeowners insurance, car insurance and property taxes, Im not so sure.
The market in Florida is very risky now with many counties seeing double digit price drops and it's just getting started.
Where is that. Not seeing this in southern coastal counties.
We are visiting Florida (Lake County area right now) and we love it so far
Visiting is different than living.
Are u blind?
Yasss!! The spells are definitely working!😄
How can a teen age guy go on a date movie $20, gasoline $3 a gal, McDonalds $10 I feel sorry for the young.
They have now 15$ per hour
😞Feeling neglected over here in the Tampa Bay area. South Florida is getting all the attention. 🙂
The only problem is... institutional investors are drying up. Where do huge corporations make their money? Off selling goods and services. What happens when everyone stops buying goods and services cause they're broke? The companies go bankrupt.
I was around for the crash of 08' and 09' and that was only the residential housing markets in the US that crashed. It made entire Florida towns into ghost towns. This recession is hitting every single industrialized nation at the same time. How long can institutional investors sit and pay property taxes and hoa fees and upkeep with 0 income. Not long. Nor would they if they were smart.
Now we have a complete collapse of the commercial real estate market and huge layoffs in the tech sector, banking failures, the residential market collapsing, UPS saying its coming with massive layoffs, more companies "downsizing" middle class jobs, only to add minimum wage jobs. Where's the money going to come from where there is none moving in the economy?
All the smart investors are saying sell everything asap and stash as much cash as possible. This is going to be a dust bowl level recession the likes of which nobody alive today has ever seen.
This whole economy is unsustainable when the average American budget is negative $1000 a month. The average American can't afford to live without taking on debt they can never hope to dig their way out of. How is that supposed to play out long term?
BOUGHT IN 94 35000 2 BEDS 1 BATH HOUSE PAID OFF NO INSURANCE LOW TAXES SORRY FOR THOSE TODAY
Just wait until the first Hurricane hit Miami, no homeowner insurance and condo fees.
The rent is too damn high!
I’m putting my money on then going to AZ, TN, & TX over Florida. You left the part of the clip out where Kevin O’Leary specifically mentions TN. lol
Covid kind of ruined Fl..too many people moved here
Yeah, I was saving for a house, and COVID set me back, as well as thousands of other Floridians.
Paid 8-1/2% mortgage in 1974. It is not the rate it is the down payment that impedes sales. When the bottom of the chain, afordadable homes, cant find anything the chain is broken. A link is missing.
Give me the pines and the forest of Michigan, you can keep Florida.
Um, we have pines and forests in FL too.
Yep, full of alligators and snakes!
@kateohackett6375 No, my 2nd home there is a paradise on a beach. Looking now, no alligators or snakes in sight. I'm also pretty sure snakes are in every state, true story.
Same here. Im staying in California with it flaws and all. Lived in Florida 10 years was truly awful.
@@08janhallFlorida is a flat vast no mans land. Where the temp is hot and people are cold.
Gotta admit it solves Florida's home insurance problem, the only homeowners in Florida will be the extremely wealthy and big corporations that can self insure. Sounds like a Republican paradise.
republican paradise? F off you libtard.
Go fuck yourself. Massive government spending, inflation, and criminalization of business like New York is a Democrat dream. Get the fuck out of Florida, you’re an enemy.
No, the winners in FL will be the homeowners who drop their property insurance and self insure. After 35 years of paying for insurance on my house and never once needing it, I did just that! I am neither wealthy nor a corporation, btw.
@@commonsense6967 As long as you can cover a total loss, life is good.
Ugh libtard
If you do a deep dive into Grant Cordone You may not be a fan any longer.
Scamming people and being sued.
Just look at him, I am not dive deep. Bad vibes
So if u can't fraud then you can't do business there? No wonder why they stay rich and the poor get poorer
I am so thankful I bought my home in 2009. Rich Yankees moving here constantly have driven up the value!
Rich Yankees have no place here. Florida is fully SOUTHERN CONFEDERATE.
No place for Dems Yankees here ! Yankees stay home up North where you belong !
Yankees stay up North where you belong = we don't want your messes down here in OUR state ! Leave OUR state alone ! You already have congested our country roads ! And done changes to our schools we hate that you have no right to touch. You don't even belong here ! Go home ! Stay home !
Driven up value while not selling only yields higher holding costs such as higher taxes
Crazy how oversupplied Northport Florida is yet they keep building
I cringed when I heard them say this. Sorry, Florida is closed. Don’t bring this muck here.
Plenty of muck in FL already!
This is very interesting. But if average income does not support it in that state then what happens?
Service deserts. When lower income employees can’t afford to work within a commute zone.
Or the working homeless. Which is beginning to happen around swfl already to anyone paying attention. It’s really sad.
Then it will turn into the Next California and NY
@@mackm7781Not if we get rid of all the poorly-run Democrat Marxist corrupt FL cities!
Georgia, Alabama, and Mississippi are places for businesses to relocate. There is plenty of labor and inexpensive land .
Sure but who wants to live in Alabama or Mississippi?
Atlantic already has high water temperature 🌡️
A disastrous hurricane season is on its way this fall. Florida has the sun and that is it.
Rising wages? Here in Florida? Sorry Chris you are wrong...wages are trending down in the last few months.
Oh yes. We are at the end of this fiat currency cycle. Wages do not rise.
The large builds are selling houses pretty fast , there’s obviously still quite a bit of money coming down here
buying in SE or SW florida now is like buying NVDA at 800
Over price x 3-4 and now 60% off. Yea right.
All about work from home. NYC salary, Miami living
Thanks for information.😊
Who has money to pay the crazy increases in homeowners insurance premium
I trust realtors for financial advice. lol
Can’t wait for the oceans to rise.
wow... I thought all that happened 10 years ago.
So these big investors they're not getting the crush with the insurance for to keep the house or mortgage payments what are you saying That's kind of evasive
I hope your the one who sold Sylvester Stalone his new home in Florida!
Deploy is a military term...good choice of words
Florida is going down hard when the crash shows up
I disagree. Florida is just like TX was 10-15 years ago. On 2008 TX barely felt any declines. Florida has had a ton of corp come here just like TX. There are more jobs, money and Florida is not just a retiree haven anymore….its becoming a major player because of less stringent business taxes etc.
@@hppiano4969Keep dreaming.
@@hppiano4969 Florida hasn't been only for retirement in probably 10-20 years.
But I don't see where the money or jobs are. If you're in the service industry you mainly make money when the snow birds come down! Not good for yearly income.
If nobody is able to buy. The prices will go down. It's gravity. Think depression 1929.@@hppiano4969
Amazon gets huge contracts from the government...
Just going to take a wild guess....Kevin O' Leary, might be under investigation 😅
Thanks Ron DeSantis for your help 😂
Why do you have to bring politics in this?
Because one is affecting the other.
No one pushes a city to go dead. The city does that
florida is becoming one of the worst states in usa, just like new york , california , seattle .its a shame
Nikki Haley are u kidding me😂
Unfortunately Florida has changed for the worst. This state is so over populated now it’s unbelievable the amount of people living here and housing is so expensive Quality of life has definitely gone down.
Florida and Texas’ big toes look great!!! The healthiest of toes!!! But the heart is diseased and once that stops the big toes die too!
Word 😖🇺🇸.
Oh boo-hoo! Leave FL and return to your poorly-run, Marxist blue state.
Born and raised in the 305 area code will never leave
Is it that good down there?
I think people are running to Florida for freedom as well as if you have to live on the street Florida is warm better than Denver Colorado.
You have too many cuts and video jumping it's very very hard to watch Can you eliminate those? You keep going in and out backwards and forwards as if the video is being spliced every 5 seconds.
Where the criminals want to live , i will find anywhere else!
The guy that told you that FTX was a great investment is now telling you to stay out of New York :)
Seller have the power to NOT sale to companies; owner occupied homes should have priority if we don’t want to loose our state to investors. We Floridians and families in general are being robed from the opportunity to own a home, so greedy investor continue to trash our way of life.
The first asset you need, if you want to make money in the Northeast, is the politicians. If you don't invest wisely, you lose. That's it. So the sad interviews about New York are kinda funny to me.
The wages in Florida are still "pre pandemic"
Hmm look before you leap!! to FL
I don’t buy ANYTHING online from loser states. NY, CA, IL…
Chicago Ray is pure working business man, you need to check him out
They can have it, Mr Igoe. I'm out of here at the end of the month.
They buy property because they ain't worth anything else
They are going to keep doing business in those markets because there are millions of ppl there and that equals millions of dollars
Black and blue boulder 😖.
Yeah, all the cocaine money is in Miami...Way to go!!!
You slipped when you brought up lebron James
There is no income tax in WA
FYI
Oh really
More irrelevant news. The investors mentioned are small influences in comparison to the total market demand. Although I applaud discussions to break the back of government regulations (especially in California) the fact is, people want to be in New York and California for the culture and business opportunities. Florida?.... Please. It's mosquito-infested, hurricane-prone swampland except for a few interesting cities.
Don't buy now
WAIT UNTIL 2025
After inspection
See condition of condo building
Florida is already California 😂😂😂
Right will lost 😞 😞even people life 😞😞
Pencils down on knew york - bad business knew york
Florida is toast bro.
Yes, they are moving down south into Florida to avoid the craziness that’s happening up north, the craziness that they created with their voting and the craziness. They will eventually bring to Florida in 50 years. You won’t recognize this place and it will be just as inhabitable as New York and Chicago, and all these other great places yes, great places that they once wereand I will not be around to see that
Are you crazy…no one is leaving Florida…where they going to go to…New York? California? Hahaha Housing/mortgages go up and down …high inflation means slower housing market….
Washington state doesn't have income tax either.
Florida??? Hell no☺️
God awful place to live!!
Come on we want you in Florida
Maybe florida to invest money. But to live there is horrible.
Who's John galt
I tell u what ¿?😂😂
Kevin O'leary staying out of New York is a big plus, Florida needs more criminals, annd there will still be plenty for New York I would not cry or celebrate this development, Trump needs to grow up stop playing the victim and start paying his victims, oh wait his favorte new york court is bankruptcy, so he will visit that court on his way out
BYE BYE NY !!!!!!!
God forbid there account ability
Snowbirds😂