$2,000,000 for an Airbnb. How investors destroyed Florida’s housing market.
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- čas přidán 26. 07. 2024
- The Housing Bubble in Miami and Southeast Florida keeps getting worse. With small houses and shacks now selling for $2 Million in neighborhoods like Wynwood and Buena Vista.
Access Housing Market data on Reventure App: www.reventure.app
However, this massive Florida Housing Bubble could be on the verge of bursting in 2024. With a big downturn in homebuyer demand causing inventory levels to spike. These spiking inventory levels are often the prelude to a big decline in prices.
Miami's Housing Market has managed to continue appreciating while the rest of America's housing market is slowing. However, one has to wonder howl long this can go on for. Neighborhoods like Pembroke Pines and Kendall continue to do well. While Wynwood and Buena Vista have entered a downturn.
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Anecdotal indicator: if there are chickens in abandoned parking lots, it probably means houses shouldn't be selling for $2 million nearby.
Of course - the data backs this up as well. Home values in this Miami neighborhood are 74% overvalued compared to long-term fundamentals related to income.
Access overvaluation data for every ZIP code in America on Reventure App under a premium plan: map.reventure.app/dashboard?geo=zip&dataPoint=over_under_valued_percentage&query=Miami%2C+Florida%2C+United+States&lnglat=%7B%22lng%22%3A-80.19362000000001%2C%22lat%22%3A25.774173000000005%7D&zoom=10
There’s chickens everywhere in Key West.😂
Some people would pay a premium for access to free chicken.
Free range chickens in million dollar neighborhoods, who knew?
i live in honolulu and my $4M+ area has chickens like everywhere :))
If you’re in Miami and see roosters and hens walking around freely most likely you’re in a poor neighborhood
Does anyone have any idea which stocks may be experiencing major growth this new year season? A lot of people have been talking about an April bounce. I recently sold my Boca Grande, Florida, house, and I want to invest a lump sum before equities recover in the stock market. Is now a good time to buy or not?
yes, transportation and e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises.
I was left holding worthless positions in the market in 2020 because of these market uncertainties, which is why I don't base my market assessments and decisions on rumors and hearsay. Before I started noticing any noticeable improvements in my portfolio, I had to fully redesign it with the assistance of an advisor; I've been working with the same advisor and have scaled up to 750k
True, we’re only just a piece of information away from amassing wealth, I know alto of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I was thinking of buying a tool shed from Home Depot for a few hundred $ and selling it for 350k in Florida.
You need land to put it on. That will cost you 325k.
@@krisrap3828 Just bolt it down at a Taco Bell parking lot
@@krisrap3828 So you're saying there's $320k in profit to be made? Sign me up. /s
@@krisrap3828😊Or $349k
Lol money glitch confirmed 😂
I think a housing crash will happen because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for the future and the cost of living rising at a high speed.
For 2024, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Our country has been destroyed by greed. The middle class has been gutted and industries like health care and real estate have the big middle finger to the average hard working person. Sick to see
Well, the realtors I hope they get theirs too and the greedy sellers as well. I’ve had buyer agreements I’ve had dual agreements all of them are encouraging people to put down high amount of due diligence and over the asking price so even working a job makes $90,000 a year and $30,000 in savings. I have lost money on due diligence.( do the scma we know our house is a money trap let hide the worst if they find out of well, we got the money they gave us and NC made it all possible) The house prices are out of control. Yeah, it’s greed by sellers' realtors. They are fuelling this. a house for sale at 725 Caleb ct in Eden NC , it has termites they know it they covered it up the floors were all damaged for the termites eating the joist! i have to take them to court to get my 1800 back they snicker because they knew no one gonna by a termite-infested floor-damaged house at a renovation price...greed and scams !
So you would sell your home and eat a couple hundred grand in profit out of the kindness or your heart to a new home buyer? @@laladeylaya6738
That’s not even close to the reason the housing market is like this. It’s because of fiat currency and history’s most expensive welfare state. Entitlements are 75% of all government spending, and they alone cost more than the government has in revenue each year, so they just print the money to pay for them. That immediately devalues YOUR money and makes prices go up.
If you’re wondering why your grandfather could buy a house for 20k and you can’t for 600k, it’s because of our “social safety net”. It’s literally the unproductive that are destroying the economy, NOT the productive. You couldn’t be more wrong
People really have to realize FOMO and survival bias are making this worse.
@@laladeylaya6738 Most of these relators have made tons of money, so even if the market collapses, they still made their millions off of us.
The collapse of Margin debt leads to a decrease in stock prices and trigger a wave of selling as investors try to cover their losses, Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $145K for sometime now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.
I agree, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a financial advisor and in less than a year I was just $51,000 shy away from $640k which is like 7x more than I make on my own..
@@Calava-hp3dy I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy ” for about five years now, and her performance has been consistently impressive.
@@Calava-hp3dy Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Houses are a million dollars while incomes are at < 100k. Houses are going to fall more than 50%.
Amen, I just worry about all the owners getting blood on my carpet when their spouses leave them and they lose everything. Going to be a good time to be in the biohazard business, I guess. 🤷🏼♂️
That has never once happened in American history and it definitely won’t this time either. The only chance we have of things being affordable again is if wages catch up to the price increases. That’s what happened in the 80s due to the 70s inflation. During Reagan’s presidency the net worth of Americans making between 20k-50k increased each year by 27%. A record.
But in order to accomplish that again we’d need to dramatically reduce government spending and there’s almost no chance that’ll happen regardless of who wins the election. So we’re screwed
@@hlf_coder6272 Well when you have Blackrock and the Elites running the economy, inflation won't be fixed.
yall been saying this for years. I guess demogrpahics mean nothing to you
Too bad corporations with enough funding are buying every affordable home that comes up
There is a listing for 50k and it's a clear tent.
Do you think they would take $45,000?
@@christaylor8337 Absolutely, comes with free roosters
So does it come with the property or is it just the tent
Does it come with HOA fees. ??
You gotta be kidding 😂
i think places like miami will see a 50% bust, whats headed this way is WORSE than 2008
its already having issues with foreclosures. Miami is in serious trouble
While the government prints 2 trillion a year? Doubt it.
Doubt it. If you look at the net migration it’s still positive for SE Florida. What’s going to happen is the traditional locals will be forced to move out and be replaced by migrants from NY, NJ, Canadian, and even CA residence.
@@Gmac_Greg_M miami dade lost 80k in 2022 and probably more in 2023. Miami is in DEEP SHIT. It is bleeding people faster than any county per capita in america. SO, good luck
@@Gmac_Greg_Mdo you think any civilized New York or Canadian person is gonna want to live in a third world shack with iguanas and chickens roaming around? I don’t think so.
Who are the fools willing to pay this much money for nothing? Home prices have reached delusional levels. The greatest problem in this nation is GREED.
No, it's supply and demand. If there was a surplus of houses available, then prices would go down.
@@thejuicerrthere's a surplus of people, we've imported tens of millions of people over the last several decades. The housing market has not increased, and the boomer homeowners like it like this, as their homes are their retirement nest egg.
Prices are going down already and the recession hasn't started yet. By 2026, demand will still be horrible, and sellers that have to sell will have to make huge price drops.
@@thejuicerrno! Pure greed at this point. ESP since the demand side of the ratio has rectified the lack in supply. 2023 is a great example of this. 5% price increase nationally. But what would have happened without FL and CA markets being averaged in??? Pure greed.
@@LockedUpLarry I see plenty of demand in Los Angeles. Houses are selling over asking in quality neighborhoods. The strong demand is coming from mellenials that are now in their 30s and 40s. This is their time to start families. They couldn't care less in 2008 when they were in their early 20s.
Even the chickens are sitting on the housing supply😂😂
may be one of those chicken will lay a golden egg 🥚🐔💸💸, I'm normally against corporations buying homes .. but if they're overpaying for homes in the hood, that's good
The chickens are homeless too
I know this area well and I wouldn't pay more than $100,000 for those homes. HEAVY HEAVY crack neighborhood, HEAVY HEAVY gang related crimes, HEAVY HEAVY murders. Little Haiti is horrible.
I wouldn't even pay THAT! I'd say 60K or keep it.
You couldn't pay someone to live there if they have the means not to - that is one of the worst ghetto's. That dum dum trying to sell that $1.5m is clearly either an investor or someone out of state who knows nothing about the area or is hoping another out of stater is foolish enough to not know that area and live in a fancy house in a ghetto.
I’m not surprised with a name like little Haiti
@@KalinMorales It's down the road from a calmer community named Little Beirut.
$70,000 houses in 1999 going for 1.5M now, how do you fall for that as an investor. they tried to set the market, and are failing and bailing
Unfathomable stupidity. Keep in mind, there are stupid people, really stupid people, full-blown morons, and then there are investors.
And these brick shacks have gotten older, not newer or bigger.
That's Little Haiti, locals know that is one of the worst ghetto's to live in. Stupid investors and out of state speculators don't know that but are also hoping another fool will live in that crime ridden ghetto. Living in a fancy house in that ghetto all it does is make you a target.
These are fantastic takes, I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent recession and I was wondering if such success rate could be achieved in this present market. Any recommendations?
Cryptocurrency crashed the last couple years, so it should be starting a new run to a new high.
I grew to a 7 figure well-diversified portfolio. I only buy quality firms, anticipate to hold them regardless of what happens, pay up but not too much, keep track, sell only when necessary, and be ready to course correct. also ignore the forecasts and market views which are at best entertaining but completely useless. ever grateful to Trisha Jean Webb my F.A...
I'm hoping for the market crash. I did look up your FA and I'm impressed with the reviews, very remarkable and transparent with solid accreditation.
Yes, it will drop by 50% easily. You happen to be walking in the ghetto if you're a couple blocks from Little Haiti. Nothing in that slum is worth 2 million.
Little Haiti lol... that is one of the worst ghetto's if I recall in that area.
@@l2xsniper1it’s as bad as pork and beans if not worse. I loved Miami but only Miami Beach lmao Miami is actually a dump located in a pleasant geographical area
that area of miami looks like detroit
It’s the slums , a total scam they are running on people
Most of Miami does. What they show you on TV is Miami Beach or Downtown Miami. Miami native here
Miami Dade is a dump
When people ask me to describe Miami, I usually say something like "It's a truck stop toilet in the middle of a swamp with nice palm trees around it and a hysterical older Latino woman in a muumuu screaming something unintelligible always close by."
There is a ten mile wide swath from Miami up through Palm Beach about a quarter to half mile in from the water that is full of hard core getto down here. It very dangerous, lots of drugs, lots of shootings and murders. There also the three counties that are majority Democrat (Miami, Broward, Palm Beach) go figure.
There are certain cities that are magnets for foreign capital as well as out of town capital. Miami is one of them.
Pure facts!
BINGO!
most of miami looks bad.
Yeah, it’s always been that way but it never seems to insulate Miami from the typical boom and bust cycles. This time will be no different…..🤔🤨🤦♂️
@@gumbie007 2008 killed miami
I'm a local here from Miami, FL. The areas you are covering Little Haiti, Wynwood, and North Miami. Are areas not for locals or residents. They are beat-down properties that will be sold at millions of dollars just for the land. The purpose is to grab multiple parcels and then combine them and build either a rental apartment building or a sky scrapper that will be rented out for 1 - 1's $1,850.00, 2 - 2's $2,750.00 and 3- 3's $3,650.00.
Investors from Silicon Valley thought they can make money in Miami 😂
We don't have google or facebook here. These are bad neighborhoods. People who can afford $1.5M would not want to live in such a place. You will get mugged there, your cars will get broken into...
give me a break, $1.5M areas there are nice and most schools are 7-10/10. The school already confirms the safety :))
A higher percentage of buyers from places like the Atlanta, Ga area, the Northeast and even the "fly over states."
I think the data can be found online to gain an understanding of the general demographic profile of the real estate buyers in an area. Reventure Consulting speaks about that some.
Most of the "California Investors" acquiring real estate in Florida are focused on other markets in Florida, not Miami.
Even so o California real estate investors know Florida has been in a real estate bubble for quite a while.
Maybe you are unaware California is a pretty large state with many decent markets outside of the San Francisco Bay Area and Los Angeles area to find places to invest in real estate if that is the objective. As well as other markets west of the Mississippi river.
@@davidpham9353 not true. Miami is very rough
Housing in Miami is a Ponzi scheme.
@@davidpham9353You mean the schools where students have to walk through metal detectors. Or Little Haiti, which has a crime rate 33% higher than the national average.
I lived in Miami and still have family there. It's crazy how much everything has gone up. How do they justify the increase in prices??? Who comes up with this stuff? Seriously, I would like to know how does it work. Do banks determine it? Buyers bc they're willing to pay the listed prices? The math ain't mathing
The prices are perpetually increasing because LOANS are available for anyone who wants it. So someone who earns 40k a year can compete to buy a 600k house with 30 or 40 year mortgauge. This means supply going DOWN DOWN DOWN Demand UP UP UP. Loan availability is the difference.
@@legionjames1822 and you saw where that got us in 2008 right?.........back to the future.
Crazy people to buy!!!
Just simple supply and demand.
@@pedraw adjustable ratebmortage scam is not gonna repete tho. Its all fixed rate now. Much as i hate to say it the extreme cost of assets may never dissapate over the next 10 to 20 years. Asset cost could go down but i just dont know anymore.
House on 15 NW sold for $200k in 2018. With everything going on in Florida along with runups like that I am amazed there hasn't been a complete implosion.
The other theory is money laundering - still overvalued though. Even the drug dealers are being priced out!😐
Tony can't even buy a house and own a tiger at the same time. Tough choices these days. You have to pool your money with other cartel members. Cartel timeshares.
@@inflationsux Thankfully the Federal government is helping them out.
Insurance has to leave Florida because they are broke no money in their coiffures.
Lawyers, roofers and hone contractors came in ripped off homeowners and the insurance companies by fraudulent claims. They will return in the next two years I assume
@@inflationsuxThey don't call them "banksters" for nothing! 🏦💸
Super NOVA...When a star dies, it gets very bright ...and large...aka Super NOVA...then it collapses and dies...just like the RE market
Brilliant, I gotta steal this one
I love the sound of the cash register ring when he gives a price.
It makes me sick to say this. My grandmother sold her house in California. It’s an old house, it needs alot of work. Three bedrooms share a hallway bathroom. They added an extra bathroom later on since a family of 6 with one bathroom was becoming difficult. Zero pantry, no garage. You have to drive on your lawn to park your car next to the home. The kicker, across the street is a railroad. I counted once 30 trains in a day. Oh and you can hear it. It literally shakes the house as it goes by. Sold for half a million. That disgusts me. That house is not worth it.
My friend in Ft Myers said her insurance went up 200% after her 1st insurance company dropped her.
Eh, what can you do. They got hit hard very recently 😢
He's been saying the same thing for 4 years. Since then, houses have appreciated 60%, and rates have tripled. How does anyone justify listening to his advise?
It's common sense...just look at data .he is just stating the obvious trouble that is coming.
@TycoonLife321 So you continue to listen to this person eventhough homes have appreciated 60%?
You’re right. 2008 did not have inflation and dollar devaluation involved. Everyone is hoping it crashes like 2008, yet this has not much in common. These are the new prices, people who sat out, missed out. It may come down some, the hype on this channel, no way.
@johncpa9196 I think a correction of 10‐15% is warranted (maybe). But there is no way it's going down 50%‐60%.
@@TycoonLife321 Homes would need to depreciate by 60% just for Nick to break even. Do you HONESTLY believe that?
I’m glad you came to miami this shit is ridiculous shit houses cost over $600,000 come on
I live in Miami and it's a total nut house. The buyers are getting stupider and stupider. That neighborhood has been a dump for decades and it's baffling how so many "investors" have rushed in to buy and build that crap. Where I live homes went from 180K to 500 K in just a few years. I think it's because so few homes have actually sold in the last few years. Just wait until the buyers are nowhere to be found. If some idiot pays 1 Million for a shack that cost 5K in 1950, they will be rewarded with 20K a year property taxes, 4 times more than the place cost brand new.
A good amount of the investors will never see what shit they are buying, they have instructed their agents just to get x dollars worth of Miami on their books. The land on the water might be 50% of the shit properties so the agents are putting the out of state, out of the US investors in the best option for south FL.
June 2021- Nick says "its officicial the crash officially has begun!"
Prices rise 17% in 2021
Prices rise 15% in 2022
Prices rise 6% in 2023
Prices rise 5%+ YTD 2024
Nick is a renter who has never owned a single piece of real estate.
Dont be a Nick.
Man nick you putting in the work with these boots on the ground video. Most of those homes are below a 1000 sq ft too
Cannot imagine why anyone would want to live in miami.
What if I like hurricanes?
Same here! I don’t get the hype. I guess its the palm trees and water.I have been there a couple of times, I have family there. It’s like a concrete jungle. In some areas I would lock my car doors. Couldn’t wait to get back to central Florida.
can't pay me enough to live in Fl.
it looks like he's in little Havana, Miami does not look like this in general
Cheap coke i guess
Same here in coastal soCal, crap shacks over 1.5m
There is a crash ongoing. Crash of the dollar that is. Houses will cost more and more.
@@je5406 This is why channels like this make me laugh. Dude has been calling a housing crash for years, meanwhile the dollar is being printed into oblivion and a big mac meal is 18 dollars some places. Yet we're to believe with all the money floating around that the price of housing is going to turn into a super bargain any minute now.
atleast you have good weather and diverse geography though.
That could be 2M in 6 months once fed cuts rates , things are hotting up .
California is much nicer, and much lower property taxes in California
You should see the insane amount of homes that the flippers and investors are trying to trade with each other off the MLS. It’s hot potato 🥔.
Lots of homes have been flipped 3 times in 2 years. No one ever moves in.
Come up to Palm beach county and you will see a breathtaking amount of severely overpaid for homes sitting totally empty waiting a rent that doesn’t exist.
Been in Miami over 50 yrs and seen these happened before the NYC investors where too greedy to actually see the chickens.. and btw that neighborhood is a few blocks from the ghetto and the most dangerous part of Miami..
Just saw $1700/mo for literally a trailer in the middle of nowhere
Same dumb stuff they did in 2008 this crap is unsustainable, people have short term memories I bought a lot of real estate in the last crash 😂 just waiting on the side line .
Wth?!
In FL it takes forever to foreclose. If they went into foreclosure and stopped paying, they could easily coast there rent free for multiple years before a sale date and eviction actually happened.
I was born and raised in Miami.
Prices have been insane for a while.
Once my son graduates in 2 years, I am out !
Most of those shacks are eye sores. I seen homes in the Getto that look better than those tear downs.
Quick tip, if you see fences with spikes on them, driveway gates for a small house, or bars on the windows for small houses like those, its a really bad neighborhood. I am a retired LEO and spent most of my career in South Florida, those are a dead give away to a really dangerous neighborhood. The area you are in is a horrible neighborhood and its next to Liberty City which is even worse. $2 million for a home there, looks to me there is some serious money laundering going on, the dopers love to use buying and selling houses to launder money. It was very big just before the 2008 crash. I saw a lot of that in my career.
Doesn't help when all those "banksters" are more than willing to front for these criminals.
Little Haiti with roosters 😂😂
I think "roosters" is a euphemism, mi gente 👌🏼
And you don't want to know what the roosters are for, by the way.
@@nortonvast952 yeah voodoo magic shit.
They are everywhere in Miami even downtown
Great video! As usual 💪
F Miami Jaja driving down the freeway makes you really wonder if most people even have a drivers license
Most don't.......or insurance or a command of the english language.
I'm fairly sure most people in Miami aren't even aware you need a license to drive.
@@pedraw absolutely. Never coming back unless it's absolutely necessary hahaha
I love the chicken wake up call in a 1m neighborhood. it’s charming
House prices are still skyrocketing. Prices never crashed as predicted.
It's only been three years. Give it some time.
Lol.
They will continue to skyrocket. At some point you will have to pay 500Million for a doghouse on a small 15sqft patch of grass 😂
Yep and no one with a brain would every buy those areas unless wages go up by 500%
Miami crashed in the early 1990s and the late 2000s.
Now the values are double to quadruple the apex of 2006 and significantly more speculation driving the bubble.
imagine and i live in Miami and we feel its never going to drop... near by cities like Hialeah FL, have chickens in the yard🥲 selling for 600k +
Chickens and trailers rented out to folks who are priced out of the apartment market.
Sorry, the poultry is sold separately. 🐓🐥
This channel has been predicting a crash since it was started over 3 years ago. The sad thing is that once this broken clock is right, they'll be considered credible, and can make even more money in their indicator subscriptions.
I wish I didnt listen to the crash bros and jumped in a couple years ago before the rate hikes, wouldve been hard as Im just starting out in my career but Id be so much better off now.. In New England home prices show no sign of decline.
True,...but if they're correct, your impatience may bite you.
Key word, But. If you can buy for long term I would buy. Don’t believe the CZcams doomsday brigade
The 2008 crash didn't happen over night. It was years of doling out subprime loans to people who shouldn't have been approved in the first place.
@MurakamiTenshi yes it didnt feel like it bottomed out til 2011
I've been hearing about the Florida bubbles bursting for months and don't see it. 🤔
Soon my friend, soon.
Are you saying that having chickens in my yard is a trashy thing?😂
In Suncoast (N. Fort Myers), there are roosters, chickens and even a wild boar or two. There's a friendly white one who roams around Barbie ln. I stop and pet him once so often.
How is it this expensive? Money printer go BRRRRRRRRRRRRRRRRRRRRRRRR
Screams crash crash for 3 years, and now the bubble gets worse? Come on. No crash.
Still do not understand why so many people are still desperate to move around Miami or even Florida if it’s only getting worse in terms of housing and cost of living. Having the warmest weather year-round is not worth risking getting bankrupt from being able to afford to live.
There has been a lot of hype over Florida, best beaches, free state, no income tax blah blah. It's all BS, but out of staters are falling for it, give it a few years they move back when they realize what the cost of everything is, how transient it is, and how bad the restaurants are! Seen it before.
In the last 4 years, my car insurance went from 2000 to $5000, my homeowners insurance went from $3k to 10K. Absolutely insane. I pay more for insurance than car payments and mortgage, no joke.
Because Freedom, the next Disease X bs planned tyranny plandemic will not survive in FL or TX, I'd live humid in a shack and be able to walk on a sidewalk without masked zombies yelling me about muzzling up and shooting up with Depopulation cocktails in my shoulder.
Free bonuses to consider: Major hurricanes, oppressive humidity, sky high electric bills, traffic nightmares, rude obnoxious people, massive corruption, few residents speak English.....what more could you ask for?
This is crazy!! Big city living is so overrated!
It is now!
Same situation in Las Vegas
Love your content 🙏
I mean what lawyer or CEO or doctor wouldn’t want to live there and show off right?
Airb&b system is a shame,
Everything has been of the verge for 2-3 years now.
I live in Dallas and pay $2,545/month for a two bedroom apartment
Sad that you have to spend your hard earned money on your apartment. I'm 66 years old and moved from Frisco 9 months ago here to the Philippines my wife and i own our house we built Saving money to come here our TAXES are very low FRISCO was nice after 5 years being there and the TAXES on everything it made no financial sense to stay any longer me being on a fixed income her always stressed when the next layoff would be her yes she had a pretty good job paying well but comes a time when TAXES AND INFLATION gets out of hand she is 52 years old no one in the U.S. can basically quit the job they have and servive unless you live in a camper on the street I was driving UBER and would be driving today it was work untill you drop im doing good I miss the U.S. at times it's going to get worse in America not better do what you have to try and save a little money if possible take care.😊
Is that that on the higher end for some special location or feature, or is that truly the median cost for 2 bdrm currently in Dallas?
Move ..!!
When I was a kid living in Broward we had two cars stolen. Both times the cops drove us through Little Haiti and we found them sitting on cinder blocks.
Even a blind squirrel finds a nut every once in a while, but you haven't gotten anything right.
Oh I heard that area has high elevation and doesn't flood during storms, imagine that... the ghetto has the best land, LOL
Almost any ghetto by the costal lands are on high grounds, same here in fort Myers Florida and most cities around Florida…..
My parents bought their first home in Kendall,Fl a suburb of Miami for 75K same house today over a million bucks. Crazy! Insurance here is ridiculous too... Wynwood where Nick is walking around is ridiculously expensive also like all of South Florida!
While we keep talking and watching videos on real estate bubbles, the home prices quietly climb up! 🚀
You mean like how they pretty much always do?
those home owners are insane, that area is too close to the hood to even be worth half those prices.
Welcome to Miami.
Good information
Did he compare his monthly plan with the cost of buying a house? Hustlers are everywhere!
Love these boots on the ground videos. Any chance you can do Canada?
I’m a electrician here in miami and one developer is putting the cheapest no name brand , china shit 💩 on everything you name it appliances, water heaters, cabinetry , lights , faucets shit the bath room is one piece. I bet he is asking for 1.2 million and its town house.
Aren’t even name brands made in China now?
New day, same headline. 😅
What's your view on Parkland, FL?
Miami is such a crap hole
It's a third world city with really good PR.
@@nortonvast952 people see the truth when they visit tho
I live in Pembroke Pines and have lived here since I was born in 93 but prices are so extreme that even new built town houses cost the same as my family home of 5 bedrooms and a pool in west Pembroke Pines it’s ridiculous!!!! My old family home in east Pembroke Pines in an ok neighborhood with way smaller houses are going for $400,000.
Sarasota FL just as bad.
Word
For those swearing up and down that "this market is different", realize that every massively overpriced housing market since 1970 has crashed spectacularly - late 80's and 2008 to 2011 come to mind. This will be worse since the same fundamental flaw that drove the other run ups was working OT since 2020 - coupled with the fact that the 2008 crash was "bandaged up by the Fed", leaving a catastrophic crash worse than what happened in 1929 to stocks a 90% possibility. Stock market took over 30 years to climb back to 1929 levels after that crash - housing this time will be the same if things are lined up.
Nothing you said is accurate.
That’s Miami for you!!! Insane lol
Hi Nick, can you do a deep dive on Las Vegas in the near future? I would like to get your insights on it.
Southeast Florida single family homes will get decimated over the next few years. Aside from the huge disparity beythe case Schiller’s index to the 100 year CPI index which clearly shows a slow crash is imminent. South east Florida is in a totally different ballpark. As you said, home quadrupled in price. May of these homes were purchased with adjustable rate debt and now are in negative leverage positions. (Negative leverage means the adjustable mortgage rate the investor took out went up so much over the last 2 years that the rent they are charging dose not cover the mortgage payments. That’s why you’re seeing incredible inventory listings in south east Florida. Also, since that horrible condo collapse happened in Miami. Miami required co-op, condo boards to hire engineers to inspect buildings and the condos had to shore up their reserves accounts for future repairs. HOA’s quadrupled. That law goes into effect in 2025 for the entire state of Florida . Most of Florida coast is owned by fix income retirees who bought 20-30 years ago. And although temporarily they see paper gains they will be forced to sell. Florida is a house of cards like in 2008 ready to bust.
Unless Miami plans to replace all of its current residents with rich residents nobody will be able to afford these prices especially the locals. only realtors and people sitting on overvalued homes are telling nick he doesn’t know what he’s talking about. If you’re from FL and live in Miami then you know these prices are unsustainable. Unless companies and businesses decide to pay workers their real worth this hot bubble will come crashing down.
None of us get it. But I'm sure there will be a movie made like the big short after all this crashes.
Greetings from the belly of the beast PHX, Arizona.
Roosters are a iconic and cultural in Miami.
I like your new, calmer demeanor…keeps my heart rate and blood pressure down. 😜
There are some places I could buy a house cheap, but I don't like bullet holes in my car.
that if they don’t steal your car first.
how much of the $6000 annual insurance premium can you offset by keeping your own hens for eggs.
Here in the DC/Maryland/Virginia no relief insight my neighbor got offer fist day on market $630k. Wish I was ready to unload my house.
Neighbors with Chickens sounds like a plus. I need Farmer neighbors and prepper neighbors too. 😂
Great content! Get some sun my brother. It’s good for ya. Just don’t get burned.
The neighborhood you’re talking about is near wynwood and the Design District are five minutes away from the property. There’s also the Miami shoreline relative close to that neighborhood as well. It definitely has potential to be prime real estate for several high value net worth people and its location is optimal as well.
WELCOME TO MY TOWN!!!!!!!... You should see the prices in HOMESTEAD... CRAZYYYYY
$39 is such a deal I'm gonna sign up twice.
As an REA and former Air B n B owner, a property is only worth what someone will pay.
As people get laid off, no luxuries, no loans, so I think the listings will go up. Unless your houses are paid off, you cant afford to let a house sit.
Saw a house near the beach in So. Cal sold 200k over list.
INSANE.
Number 1 SHOT CALLER on the real estate market on YOU TUBE! Following for years now! Blessings
In those 4+ years, prices have gone up by 60%, and interest rates have tripled.
I'm really glad that I could care less about Florida and all of its problems
I'm not surprised that the cost of insurance in a known hurricane zone is going up. I'm just surprised that any insurance companies still write policies there.
Reventure needs to find a way of measuring total housing shortage (demand) in the US, broken out by rental vs buy. And by where that demand is sitting in terms of which segment ($$).
So Florida you need to make like 5k week to be comfortable lol
The chicken pulse is really great! Let's get the chicken index going :)
How do you explain that Miami bubble did not burst yet?
Great content as usual.
The tower crane index is 18 month lagging index. The contractor who hired the crane laid the foundation and got the permits 18 months ago. It took 4 years for the tower cranes to clear from the metros in 2006.