Florida HOUSING BUBBLE About to BURST! (BIG PRICE DROPS COMING)

  Рет қаралды 89,951

Michael Bordenaro

Michael Bordenaro

7 ай бұрын

Florida was the poster child for home price growth over the last few years. But now the trend is in full reversal with inventory starting to explode in some parts of the state as well as home prices already falling in many metros.
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Пікірлер: 724
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Your Future is CANCELED! Biggest ASSET MOST PEOPLE WILL NEVER OWN… kzfaq.info/get/bejne/bLtpZ6yZ17Sqlnk.html
@RD-8
@RD-8 7 ай бұрын
Happy Holidays💫
@marciawade9101
@marciawade9101 7 ай бұрын
Merry Christmas, Michael and Lisi and a VERY prosperous New Year! 🎊🎉🎁🎀⛄🎄💖🌟✨⭐💫🕊️💝😁
@gregorysagegreene
@gregorysagegreene 7 ай бұрын
I love your dry wit, Michael: "No big deal ... just losin' money left and right here." 🤣
@javaman7199
@javaman7199 7 ай бұрын
Well I guess that everybody needs to clear out for Hurricane season, since the entire state of Florida is becoming uninsurable.
@morganhill2586
@morganhill2586 7 ай бұрын
They have no idea, better get a PA
@javaman7199
@javaman7199 7 ай бұрын
@@nancyjarrell4620 Probably works for this one too.
@shawnbruce6934
@shawnbruce6934 7 ай бұрын
​. Trump or Vivek.
@CarsBikesBoats7
@CarsBikesBoats7 7 ай бұрын
@@nancyjarrell4620 What should DeSantis do ?
@CarsBikesBoats7
@CarsBikesBoats7 7 ай бұрын
@@nancyjarrell4620 Yes... It's his fault that everyone in CA and NY wants to live here...
@tizzx4945
@tizzx4945 7 ай бұрын
I wish everyone and their family a merry Christmas 😊🎄
@pierrek5260
@pierrek5260 7 ай бұрын
*and THEIR family, like we say in California... Sorry for this progressive trolling !
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Merry Christmas to you as well!
@rickschucker9697
@rickschucker9697 7 ай бұрын
Heck yes inventory is way up ! People are trying to get out of Florida before they get crushed . Mortgage,ridiculous $HOA fees , insurance, taxes , huge assessments of up to $80,000 . Never again! Get out of Florida before you lose everything!
@may86bear
@may86bear 7 ай бұрын
The party for Florida is about over. Between insurance and mortgage rates; 2024 will be the year for realistic adjustments and perhaps more exoduses 😮
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
I agree
@Peace-nz3jx
@Peace-nz3jx 7 ай бұрын
Don't forget hoa
@Litterbaux
@Litterbaux 7 ай бұрын
@@MichaelBordenaro Hey Michael, is that map with increase in listings available to everyone?
@stormchaser419
@stormchaser419 7 ай бұрын
Going to be a bloodbath.
@kevinsaunders8787
@kevinsaunders8787 7 ай бұрын
Check out Mississippi. Half the price to a 1/3 actually.. gautier Mississippi is my fav
@tomsoltess6636
@tomsoltess6636 7 ай бұрын
Sorry but these properties still look way overvalued.
@gregorylyon1004
@gregorylyon1004 7 ай бұрын
They definitely are overvalued. Priced at least double of what they are worth
@gregorylyon1004
@gregorylyon1004 7 ай бұрын
I'll give you an example. My grandparents bought land down there and put in a trailer house in 1970. They had 8 thousand dollars into this retirement home. My dad sold this same place in 2018 for 30 thousand dollars. A 48 year old junk trailer on 1 acre of land. OMG
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
That’s because they are
@andrewkaska471
@andrewkaska471 7 ай бұрын
Cinder block and stucco. No thanks.
@stormchaser419
@stormchaser419 7 ай бұрын
Overvalued is an understatement. Double or even triple in some cases what they are historically worth in previous years. Welcome to many underwater loans.
@gamanshoo
@gamanshoo 7 ай бұрын
ABSOLUTELY….i am bailing out of South Florida as soon as I can….Home Insurance companies are running a racket - state legislators and lawyers all in on it…. My cousin just went through hell tryinf to lower the home insurance premium for $14,000 a year….RIDICULOUS…they did away with personal property and after weeks and hurdles ended with $8,000 a year… I am $5k with a $25k deductible….i am up for renewal in April 2024….FL is INSURANCE HELL
@Dreblueskies
@Dreblueskies 7 ай бұрын
So is Texas!
@KB-tf8vp
@KB-tf8vp 7 ай бұрын
Where you headed? Not many havens left.
@tlindsay1007
@tlindsay1007 7 ай бұрын
😮
@walfredranda8321
@walfredranda8321 7 ай бұрын
$300,000 for old house cracks in driveway curb appeal not what it should be inside the house needs remodeled it’s just not worth it I would rather keep buying gold until the house price reflects the value.
@13ChroniclesOfDagger
@13ChroniclesOfDagger 7 ай бұрын
Gold is gonna drop like a rock 🪨 when the next big discovery happens. Better to collect ammo, brass and lead is going to skyrocket
@marknewton6984
@marknewton6984 7 ай бұрын
Buy now haha!
@Juliet875
@Juliet875 7 ай бұрын
Merry Christmas Michael and Lisi!!! Thank you for continuing to educate us and bringing solid discussions!
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
My pleasure, Juliet, merry Christmas to you!
@Jack-russell103
@Jack-russell103 7 ай бұрын
But hes been wrong every single time…how many years has bordenaro been peddling these “the sky is falling” videos? Hes targeting a particular audience who really want to believe a market crash will,happen …it wont!
@Studiovette
@Studiovette 7 ай бұрын
It's Amazing how everyone is hating on Florida all of a sudden. It must be the people who got priced out and are regretting not buying yrs ago.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
It’s not hating it’s just showing what’s happening with the market.
@basha0810
@basha0810 7 ай бұрын
Nah, it's hating.
@Navymailman
@Navymailman 7 ай бұрын
Michael, thanks for stating the facts on your channel. You showcased my state (California), during the summer and I didn't feel like were hating on us.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
@@Navymailman you’re welcome. Looking forward to coming back to California in the summer.
@marknewton6984
@marknewton6984 7 ай бұрын
Sorrowful people haha!
@currypablo
@currypablo 7 ай бұрын
This guy doesn't v even take a break on Xmas Eve. Keep up the great work 👍
@StarATL
@StarATL 7 ай бұрын
the amount of taxes mentioned for a small lot, 50-60k?! Is absurd! That street of multi-million dollar homes doesn’t even have good drainage.
@timr31908
@timr31908 7 ай бұрын
The reason why people went to Florida years ago was because it was a cheap place to live with hot humid crappy weather.....😮
@mr.frandy7692
@mr.frandy7692 7 ай бұрын
Yeah, I mean the beach is overrated. It gets old fast if you're used to it.
@Thisismeofcourse
@Thisismeofcourse 7 ай бұрын
@@mr.frandy7692 especially since every, it's so crowded so we can't even enjoy going to the beach
@rosieforChrist
@rosieforChrist 7 ай бұрын
​@@Thisismeofcourse If you are a Floridian you know the spots and when is a good time to go. its not bad
@mr.frandy7692
@mr.frandy7692 7 ай бұрын
that damn siesta key in sarasota. they made the parking lot about 5 times bigger than it used to be in the 90s and it's still hard to find parking. @@Thisismeofcourse
@taffyalusa4642
@taffyalusa4642 7 ай бұрын
Exactly that was the appeal of Florida, it's affordability. Now it's expensive, intense traffic, rude people, crowded beaches.
@mikegay5807
@mikegay5807 7 ай бұрын
Been watching the Sarasota area and have seen a lot of houses and condos reduced $25,000 - $100,00 within 30 days of initial listing! Makes sense as some of them were bought 2-3 yrs ago and now they want 100% more than they paid for them. In the long run, they might be lucky to get out of them for what they initially paid for them. I am waiting on the sidelines and going to pounce when the market truly gets hammered and I get a great deal...not in a hurry!
@thomashess9874
@thomashess9874 7 ай бұрын
Thank you for all the info,Happy holiday to you and Lizzie,comfort and joy to you both in the new year!
@buffaloman5042
@buffaloman5042 7 ай бұрын
The Sarasota county commissioners allow developers to build anywhere..but now we have too many houses
@georgedreher2322
@georgedreher2322 7 ай бұрын
Ever hear of Pay to Play? Politicians everywhere seem to enjoy that game.
@Chicago_Clout
@Chicago_Clout 3 ай бұрын
Sarasota is a mess. Building and permit department corrupt.
@minimalist0000
@minimalist0000 7 ай бұрын
I've been hearing this for two years and the prices keep creeping up in Tampa.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Well notice, I did not say Tampa in this video but your neighbor and the coast cannot say the same. It can easily spread to your area same for Miami.
@minimalist0000
@minimalist0000 7 ай бұрын
@@MichaelBordenaro BTW, Thanks for the updates, I really enjoyed your trip to the west coast. I sold my place in Tampa in Oct '22 , moved to Cali and now and wanting to buy in Sacramento but I'm renting for here now. Come join me in Sacto, it's now cheaper than Tampa with more to do as I'm now retired. :) Happy holidays to you!!
@ZXX984
@ZXX984 7 ай бұрын
Thanks for supplying this information to us. I moved here in ‘20 and noticed a lot of changes since then. Merry Christmas Michael !
@justinallport9789
@justinallport9789 7 ай бұрын
Man, you have got your act together. Charts, Figures, Stats. I can understand this guy"
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thanks!!
@jk70
@jk70 7 ай бұрын
Merry Christmas i never miss any of your videos. They are always informative and navigate people in the right direction.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thank you very much. I appreciate that merry Christmas to you!
@lordinquis8r679
@lordinquis8r679 7 ай бұрын
The Nation needs the Governor to get back to Florida and do his rightful job to right the ship of State.
@WA-de3gf
@WA-de3gf 7 ай бұрын
Yeah, he's asleep at the wheel He actually didn't create the boom. Now let's see him earn his pay
@rjkrjk8344
@rjkrjk8344 7 ай бұрын
They hired him for now to try and take away votes from Trump. It ain't working so DeSantis is part of the DS 😮
@francismarion6400
@francismarion6400 7 ай бұрын
The State is better than fine and children are safe here.
@giselle_kvm
@giselle_kvm 7 ай бұрын
​@@francismarion6400safe 😂
@francismarion6400
@francismarion6400 7 ай бұрын
@@giselle_kvm There's only one type of groomer that would laugh about child safety.
@davidaponte7521
@davidaponte7521 7 ай бұрын
Merry Christmas Micheal, thanks for your work and for giving me the chance to learn about the real estate industry. You’ve been a big help this year.
@Peonies925
@Peonies925 7 ай бұрын
Merry Christmas Michael! God bless you and thanks for keeping us informed about whats going on in the housing market.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
My pleasure, merry Christmas to you as well!
@user-lh1ss1fp5q
@user-lh1ss1fp5q 7 ай бұрын
Looking at the pooling rainwater on the streets and sidewalks allows me to fully understand why mosquitoes live in Florida. That pooling water is unhealthy for the inhabitants of the community.
@francismarion6400
@francismarion6400 7 ай бұрын
Mosquito are everywhere
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Yep that’s when they show up
@marknewton6984
@marknewton6984 7 ай бұрын
Move to Jersey haha!
@EllieM_Travels
@EllieM_Travels 5 ай бұрын
My complex flooded every time it rained. They spray and poison pets and the water.
@stormchaser419
@stormchaser419 7 ай бұрын
I would love to see the amount of people who are underwater on their loans. Has to be large and only going to grow as house prices will drop. The economy is NOT BOOMING. Quite the opposite. It's tanking. The lies the media tell you is incredible. The rude awakening some early home / mortgage buyers had in this market was a cruel lesson in economics and true costs of being in a home. Reminder: You are not a home owner until your mortgage is paid off. You are a home renter and the landlord is the bank that has your mortgage. You should also be referred to as a mortgage buyer, that is really what you are.
@angelarich8455
@angelarich8455 3 ай бұрын
I know our system of home buying is kind of a scheme If you need to move you stay over again after posting closing costs each way and on and on Bank can take house and your profits plus taxes
@nancyjarrell4620
@nancyjarrell4620 7 ай бұрын
Create an app asking why people are selling.
@Kuulei265
@Kuulei265 7 ай бұрын
Merry Christmas Michael to you and Lisi. May your coming year hold many blessings. I’m glad I found your channel!
@pmscalisi
@pmscalisi 7 ай бұрын
Thankful I live in flyover America and don’t have to deal with this insanity.
@arbit56
@arbit56 7 ай бұрын
Merry Christmas and Happy New Year Michael !
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Merry Christmas!
@karenalbanese9308
@karenalbanese9308 7 ай бұрын
Merry Christmas! Thanks for the info! 😊
@angelinaferguson1307
@angelinaferguson1307 7 ай бұрын
Merry Christmas. Thank you Michael
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Merry Christmas, Angelina
@user-ky7js5uv9h
@user-ky7js5uv9h 7 ай бұрын
Here on Florida's west coast they seem to be building on every bit of vacant land, more and more houses are coming on the market (even in tony areas like Bellaire Beach), and we're starting to see marked down prices; but the prices are still absurdly high.
@mr.frandy7692
@mr.frandy7692 7 ай бұрын
as long as people pay it they will stay high, however i don't see that lasting long.
@diodiodio222
@diodiodio222 7 ай бұрын
This is because the economy is insanely strong and we just got through all of the tough work of beating the inflation caused from 12 years of insane money printing. Rate cuts coming and if you can’t get a good job right now you’re just not trying. Good luck out there and get yourself something sooner than later. 🎉
@warren7957
@warren7957 7 ай бұрын
Indeed, new construction is rampant. The health of the environment is doomed.
@user-ky7js5uv9h
@user-ky7js5uv9h 7 ай бұрын
You've mistaken me for someone who doesn't own a home. @@diodiodio222
@marknewton6984
@marknewton6984 7 ай бұрын
​@@diodiodio222It has started to change😅
@jackblack3886
@jackblack3886 7 ай бұрын
Thank you so much for your insight! We were planning to move back to Boca (sold our intracoastal condo in '05). But not now! I'm not gambling my life savings! Wow, what a change since we first bought back in the '90s!
@davescott1491
@davescott1491 7 ай бұрын
Also, many listings received no offers and were taken off the market. The owners want to sell, but can accept falling prices until they have to. Sad really.
@Dreblueskies
@Dreblueskies 7 ай бұрын
I sold a a big loss and it sucked!
@MCC876
@MCC876 7 ай бұрын
It takes real money to have a home in Miami Beach. The homes Michael showed us proves that.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
For sure
@user-vy1pt3fj1g
@user-vy1pt3fj1g 7 ай бұрын
Thanks for tracking the data for me! Merry christmas to you and family!
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
You’re welcome glad you find it valuable merry Christmas!
@catherinealvarado3258
@catherinealvarado3258 7 ай бұрын
Merry Christmas Michael and Lizzy, blessings to you both 💕🎉
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thank you very much Katherine merry Christmas!
@chargermopar
@chargermopar 7 ай бұрын
That had to be Friday or Saturday, I got a bunch of rain those days and it tested my van for water leaks. There will be a condo collapse as you have said before, I can see the dya when no one will want them. Crashes always start in Southwest Florida, like it did in 2007 before spreading to the rest of the state. Miami is always the last to collapse. I could see you happy in Flagler county, you have Daytona beach nearby!
@lienhenderson4528
@lienhenderson4528 7 ай бұрын
Merry Christmas Michael and Lisi. And everyone else.
@johnrubino7604
@johnrubino7604 7 ай бұрын
Interest Rates do not matter like they use too because a home in Florida has five components now. #1 wind insurance premiums and flood insurance, #2 monthly HOA fees, #3 Electricity cost, #4 Interest Rates and #5 Taxes. These cost all factor into your monthly nut you pay. So you see a slight savings in interest does not give you a big reduction in your monthly outlay. Plus qualified Doctors and hospitals are becoming scarce in Florida. The saying a few years ago was, What is the number that you call if you get sick in Florida? Is It 911? No, the number you call is 1-800-DELTA. Plus your one county commissioner election away from a socialist group taking over and taxing you out of prosperity. It was hedge funds who starting buying up Florida in and about 2017 which pushed these prices way up.
@CarsBikesBoats7
@CarsBikesBoats7 7 ай бұрын
Still cheaper than my $20k a year NJ property taxes and insurance and everything else is also higher in NJ too... Plus my property taxes are capped by Homestead and Save our Homes... and no State income tax...
@prettyridesmedia
@prettyridesmedia 7 ай бұрын
This time last year condos in my Tampa neighborhood were zero, now there is 8 active with price cuts. Insurance went up again in HOA
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
That situation will just continue to compound especially after 2025 laws hit
@glendajune9140
@glendajune9140 7 ай бұрын
Merry Christmas Michael,& family.🎄🎁☃️🎅🏾🙏🏾✝️🙏🏾
@PNice-ox6ei
@PNice-ox6ei 7 ай бұрын
Fitch ratings says homes are on avg 10% overvalued? They are insane!! It’s all about the income and on avg home prices are 6 to 8 times avg earnings where normally it’s between 2 to 4 times earnings. On avg home values increased 30 to 40% from 2019 to 2022 while incomes when accounting for inflation was stagnant. The main driver in the increases were investors taking a larger share of home buying and companies allowing remote work both of which bare not sustainable in the long run. Numbers don’t lie and they are saying home prices will need to drop between 20% to 30% in 2024 and if there is a recession potentially 40% or more to drive home sales in 2024. The current prices in the areas (Sunbelt in the South and TX and desert SW States)that saw outsize value increases even with the recent minimal interest rate decreases simply are not enough to generate any meaningful uptick in sales activity.
@mariatennyson429
@mariatennyson429 7 ай бұрын
Merry Christmas to you and yours 😊
@jackcovington645
@jackcovington645 7 ай бұрын
With your report on the November new homes sales down by 12 percent, this illustrates the market is crashing. Many new homes are offered with discounts and incentives yet the down off means things are much worse than understood.
@jaymellathomas7958
@jaymellathomas7958 7 ай бұрын
Merry Christmas Michael
@Jeannified
@Jeannified 7 ай бұрын
Merry Christmas, Michael and sweet Lisi!
@WeekendsOutsideFL
@WeekendsOutsideFL 7 ай бұрын
These housing booms and busts are incredibly damaging to everyday Americans. People buy in on the upswing, splurge on consumption against the wealth of their house, then the tide goes out, they lose the house and job, and when the “economy recovers” they’re left to take up some low wage service job while the numbers say “the economy is recovering!!!!”
@beckyforbis4858
@beckyforbis4858 7 ай бұрын
Merry Christmas to you and Lizzie 😊
@JetJ321
@JetJ321 7 ай бұрын
Merry Christmas to you both!
@LoveTheSun
@LoveTheSun 7 ай бұрын
Merry Christmas, Michael
@hexfreedom3614
@hexfreedom3614 7 ай бұрын
Merry Christmas on the other side of Florida(Venice).
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Merry Christmas I love Venice!
@vinniecorleone62
@vinniecorleone62 7 ай бұрын
Merry Christmas!
@gulfgypsy
@gulfgypsy 7 ай бұрын
Thank you for your astute observations on real estate here in FL - Congratulations on how your channel has grown this year! May you and your wonderful bride have a Blessed Christmas and a healthy, happy and prosperous New Year!
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
My pleasure thank you for your kind words. Merry Christmas!
@user-lh1ss1fp5q
@user-lh1ss1fp5q 7 ай бұрын
Michael when the home that has property taxes of $7K a year sells and the property taxes increase on the new buyer who now immediately gets a $60K property tax bill; how does the new home owner of that same property benefit from the $53K property tax bill increase? I really do not see the logic of buying a home with this unfair tax system in place.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
That’s just it they don’t benefit at all. It is an extremely unfair system.
@user-lh1ss1fp5q
@user-lh1ss1fp5q 7 ай бұрын
Now when I watch "Swamp People" and they are in Florida chasing invasive species for bounty I figured out where Florida gets the money to pay the bounty on these captured animals. Florida gouges property owners and uses those funds to pay those bounty costs. Genius!@@MichaelBordenaro
@jonathantaylor6926
@jonathantaylor6926 7 ай бұрын
The property tax thing is a mess. Is it unfair that you pay 50K a year in taxes while your neighbor pays 7K... yes.. but its also pretty unfair if you buy a house in 1980 and then the property value goes up so much you are forced to sell the house because you can't afford the taxes. That is pretty pathetic to kick an old lady out of her paid off house she had for 45 years because the tax bill is more than many people make all year.
@hvaball150
@hvaball150 7 ай бұрын
They are paying for all the hard work I/we did to make that house and community worth what it is... If you don't or can't afford entry, stay out. Stay put. At the place YOU made and now want to leave... Apparently.
@user-lh1ss1fp5q
@user-lh1ss1fp5q 7 ай бұрын
You have a point about Florida. First because you have: hurricanes, mosquitoes (think Dengue Fever), liquefaction as-in sinkholes (see YT videos for this), oodles of non-native invasive species overrunning the state (see Swamp People), hot humid weather coupled high utility bills and crazy high home insurance rates (evidenced on Michael Bordenaro's YT Channel); do not fret. Common sense (which I have seen for myself that many native Floridians do not possess and is also true of you in this case) tells me that Florida is a craphole place to live. So enjoy all of your wasted efforts to pay for and endure the tender mercies of the unpredictable Atlantic ocean weather fronts on one side and the effects of the city dump on the other side. Do feel free to ask for Federal loan assistance every 3 or 4 years to rebuild your hurricane damaged property while enduring the latest round of home and car insurance rate hikes that will come from all those Democrat New Englanders and Californians moving in on top of Floridians while driving up the traffic problems and causing car insurance rates to climb. Nope. Not unhappy where I am as my non-existent income taxes, $4K property taxes, $700 home insurance and $1000 auto rates are just fine by me there bro. So not looking to move. Good luck there with all of that and have a ball.@@hvaball150
@joe1940
@joe1940 7 ай бұрын
Most real estate has been over valued for a long time. When the bottom falls out of this market there will be a lot of people stuck with property that they can't sell.
@stormchaser419
@stormchaser419 7 ай бұрын
Plus underwater loans. Big time
@fredk9999
@fredk9999 7 ай бұрын
We really appreciate our host for this “dry” segment (stopped raining). You also are competing with the NFL Cowboys-Dolphins-game here at Hard Rock
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Ha ha thank you! I guess that explains why the videos not doing so well yet lol maybe it will change in a few days☺️
@overthehilldill3626
@overthehilldill3626 7 ай бұрын
Merry Christmas Michael and Lisi. Thx for bringing us so much great info this year. Hopefully next year will be a better one. But with humans, i kind of doubt it. Peace.
@edwardsteinmetz-gl3zl
@edwardsteinmetz-gl3zl 7 ай бұрын
Merry Christmas!!
@larkatmic
@larkatmic 7 ай бұрын
That neighborhood looks like parts of Los Angeles. Los Feliz, Westwood, Pacific Palisades, Glendale, Beverly Hills, Hancock Park. Very cool!
@edge918
@edge918 7 ай бұрын
Merry Christmas Michael & Lisi 🤗❤️💚🎀🎁❄️🦌🎄☃️🌨️
@matthewjames1172
@matthewjames1172 7 ай бұрын
you should use adjusted price numbers; drop becomes much, much more evident.
@InvestingWithAdamK
@InvestingWithAdamK 7 ай бұрын
Happy holidays Michael. Hopefully doing something fun. I hope you’re accurate and we see prices come down. Just not sure I see it playing out that way. My guess is we’d need to see a lot of distressed sellers and without large unemployment there’s nothing I see that would spur that. I think the Fed manager to thread the needle
@holaf1649
@holaf1649 7 ай бұрын
I heard it first from Michael! 😂💪 Merry Christmas!! 🎄
@shinymonktouchymonk3662
@shinymonktouchymonk3662 7 ай бұрын
Xlnt video! So smart!! Laguna, Calif. Broker And Property Taxes are Obscenely ridiculous and Criminal.
@mattanderson6672
@mattanderson6672 7 ай бұрын
Thanks Mitch!
@Chas1160
@Chas1160 7 ай бұрын
The market is changing as it always does. As the inventory floods the market place, prices will be soft. In the long run, it will open up opportunities. It’s a good thing. I suspect a decrease in equities by as much as 25%. Wait until they see their property taxes and insurance bills. It’s not sustainable in my opinion. We will see.
@marknewton6984
@marknewton6984 7 ай бұрын
Good point.
@tlindsay1007
@tlindsay1007 7 ай бұрын
That makes sense.
@darthcheney7447
@darthcheney7447 7 ай бұрын
Merry Christmas all.
@stockey
@stockey 7 ай бұрын
Taxes, from 6k to 60K, that's absurd.
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
It sure is, and does the new owner get extra services for their much higher payment every year? No they don’t just a higher bill.
@xoox7469
@xoox7469 7 ай бұрын
I have lived in South Florida. 16 years. 1995 to 2012. I Left. To much to tell you all my story of a home. Yes, that 60,000. Tax bill for that house. That is absolutely caus , crazzzzy🎉🎉🎉🎉🎉to pay your first tax bill. OMG hahaha that is so,so sad.... Do you know how many people would need to be feed on 60,000..... Feed people not the property taxes n ....❤❤❤❤❤😮😮😮😂😂😂😂
@carolbagwell6769
@carolbagwell6769 7 ай бұрын
60 thousand a year taxes because they got it priced at 5+ million. If it was 600 thousand house like it should be, the tax is 6000$.. tax is still at what 2%? If they want to push those house prices to crazy numbers, let them pay those crazy taxes. 🤪
@carolbagwell6769
@carolbagwell6769 7 ай бұрын
300 thousand at 2% is 6000. Still high..but maybe what that house should cost. What did it cost before the pandemic?
@tlindsay1007
@tlindsay1007 7 ай бұрын
​Let them eat cake.
@tlindsay1007
@tlindsay1007 7 ай бұрын
I think homes where I am are still approximately 25% overpriced. If interest rates go under 7%, it's quite possible that will encourage more people to sell in the Spring, and hopefully lead to a lot more inventory so that prices will also drop. However, if mortgage rates fall too far, that could create another problem with price increases. We need to get to that sweet spot to balance out the market.
@Opinionated219
@Opinionated219 7 ай бұрын
Purchased my Cape Coral 1700sf 3bd 2ba, SFH, for 350k in 2020, it went up to 520k in May 2022. Since then, it has fallen in value to 470k. I have a 2.5 percent mortgage and there is no way I will part with this home, nor was I inspired to sell it in May of 2022. You can’t cross move and expect to have an advantage. It’s all lose, lose, lose. Death by a thousand cuts (insurance, property tax). That is how they get you. You never own a home as long as it can be taken for property taxes.
@walfredranda8321
@walfredranda8321 7 ай бұрын
I’m patiently waiting in Ormond Beach 1000+ homes for sale but prices have remained very high
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
That will change. Prices cannot remain high with inventory, continuing to go up as I showed in my example areas in this video
@FLAC2023
@FLAC2023 7 ай бұрын
Mike! Question: now that the secret is out, the fact that all these beach properties and condos deteriorate significantly through the years, why would anyone buy old properties at prime value?
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
From what I can gather people still buy them, because the allure of the beach is very strong number one and the other reason is because they either don’t know what they’re signing up for in terms of expenses and repairs or the building has already gone through it and they don’t have to worry about it for a while
@hazcat640
@hazcat640 7 ай бұрын
Michael, Merry Christmas to you and your lovely wife!
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thank you very much merry Christmas to you as well!
@lindaadams1008
@lindaadams1008 7 ай бұрын
Merry Christmas Michael and Lisi!😊🎅❤
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thank you Linda merry Christmas!
@ericmcabee5823
@ericmcabee5823 7 ай бұрын
Thank you!
@StarATL
@StarATL 7 ай бұрын
Doesn’t your arm get tired holding the phone? LOL
@ihave35cents95
@ihave35cents95 7 ай бұрын
I don’t know what this guy is on about my whole family lives in South Florida for 27 years they all love it no problems no whining no crying.
@ponygirl1624
@ponygirl1624 7 ай бұрын
The middle class now= the working poor.....thats why
@ihave35cents95
@ihave35cents95 7 ай бұрын
@@ponygirl1624 change with the times it’s your duty.
@Monika-tv8np
@Monika-tv8np 7 ай бұрын
NY starts to get bigger inventory as well. Back in 2010 I was looking to buy in Brooklyn a 1 bed coop for 300k , today you can find something in the same price range
@mattolivier1835
@mattolivier1835 7 ай бұрын
GTFOH! If inventory was 1% and it went up to 2%, that's a 100% increase in listed houses! big deal, it doesn't mean anything. Smarted up Mikey!
@HappyandBlessed-wj7gc
@HappyandBlessed-wj7gc 7 ай бұрын
People who lie with statistics like to speak in percentages instead of real numbers.
@debrarolland1704
@debrarolland1704 7 ай бұрын
. Merry Christmas 🎄
@charlesw5920
@charlesw5920 7 ай бұрын
I left Florida a year ago due to family problems and want to go back, but rent is still way too high and buying is even more expensive with all of the insurances that you have to pay.
@azwife1715
@azwife1715 7 ай бұрын
How does Anyone afford a 1,2 , 3 million dollar home with 50k in taxes....mustvbe foreigners 😮
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
I wish I knew the answer to that
@andrewkaska471
@andrewkaska471 7 ай бұрын
Black Rock.
@Dave-zl2ky
@Dave-zl2ky 7 ай бұрын
Everyone is bailing out of Florida. Insurance, taxes, politics, traffic, and low-paying jobs are just part of the reasons.
@michaellalanae7228
@michaellalanae7228 7 ай бұрын
High crime , drugs , it's hot as hell there , you can't drink the water , dental bills , HOA fees, rules on fishing , it smells like dead ass from the swamp , snakes attacking and eating your pets so you have to keep them inside , insurance costs , electric bills out the ass, I can go on all day about Florida . 😂
@javaman7199
@javaman7199 7 ай бұрын
@@michaellalanae7228 "snakes attacking and eating your pets so you have to keep them inside" Better keep small children inside too, just to be on the safe side.
@serenas8144
@serenas8144 7 ай бұрын
Everyone can't live in paradise. 🌴 🏖 😊
@markme4
@markme4 7 ай бұрын
​@@michaellalanae7228Dental bills 😆
@michaellalanae7228
@michaellalanae7228 7 ай бұрын
@@markme4 yes meth and from drinking that swamp water .
@Halfdrunkhero
@Halfdrunkhero 7 ай бұрын
I only make 54k a year after taces... how are people living?
@morganhill2586
@morganhill2586 7 ай бұрын
The aren't that's pretty good big fella folks lying alot
@thedadyouneverhadchannel3544
@thedadyouneverhadchannel3544 7 ай бұрын
You’re still volunteering?? Why???
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
It’s definitely tough out there
@marknewton6984
@marknewton6984 7 ай бұрын
By downsising!
@stevemorlock5366
@stevemorlock5366 7 ай бұрын
Maybe get sober, and you could earn more.
@jimshoe402
@jimshoe402 7 ай бұрын
Merry Christmas 😁😁😁😁😁😁😁
@ozmunky
@ozmunky 7 ай бұрын
One thing I look at on your walks is all the posh cars in the driveways. Gotta be mostly on credit too. I think once you see all these flash European cars being replaced by second -hand American ones, then we know house bubble is about to burst real bad.
@ozmunky
@ozmunky 7 ай бұрын
@@arigsd806 Damn. Wow. Incredible on the risks people take for appearances. Same here in UK and Australia where I am from .
@tlindsay1007
@tlindsay1007 7 ай бұрын
That's a good point. We just need to keep an eye on autos!
@commonsense5741
@commonsense5741 7 ай бұрын
Must be around 2 pm. It always rains in the afternoon. 😂
@warningsigns4526
@warningsigns4526 7 ай бұрын
Under water for sure - most of the elderly moved there instead of helping with the grandchildren and their children who ended up in "day care" with strangers - now maybe they can stop the pickle ball, tennis, and stuffing their faces with junk food and alcohol and move in with their children and grandchildren and help out - just an idea
@bobsykes
@bobsykes 7 ай бұрын
Merry Christmas to you, too. Take a day off!
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thanks Bob don’t worry I’m off today and tomorrow. I made this yesterday.🤙
@Litterbaux
@Litterbaux 7 ай бұрын
A lot of people have excellent credit right now because they didn't have student loans to pay, didn't have to pay rent or mortgages in the past and weren't racking up the credit cards to the point they can't make those payments either. People better lock in that 6.5% rate now before their credit gets decimated early next year.
@SirCarlosMusicBMI
@SirCarlosMusicBMI 7 ай бұрын
🎄🎅🏽🎄🎅🏽🎄🎅🏽🎄🎅🏽🎄🎅🏽MERRY CHRISTMAS TO YOU AND YOUR FAMILY MICHAEL. 🎄🎅🏽🎄🎅🏽🎄👍 You always have great content. Thank you for what you do. Blessings,Carlos ✝️🙏❤️😊🇺🇸
@MichaelBordenaro
@MichaelBordenaro 7 ай бұрын
Thank you very much Carlos merry Christmas to you and your family also. Really appreciate always seeing you here man!!
@patjam2
@patjam2 7 ай бұрын
Loving your work Michael. Can you do an assessment for Ponte Vedra and Ponte Vedra Beach and St Augustine?
@cs.8821
@cs.8821 7 ай бұрын
Texas property taxes/HOA fees are almost doubled compared to other states as well!
@ComicLover-oj5sv
@ComicLover-oj5sv 7 ай бұрын
How is that possible? We have a 10% annual property tax cap. And our homestead exemption just went from $40,000 to $100,000. My property taxes this year were less than they were in 2019. My mortgage is also less right now than it was in 2019. Mainly due to the property tax protections we have here in Texas.
@cs.8821
@cs.8821 7 ай бұрын
@@ComicLover-oj5sv compared to Midwest stats. We are seeking to relocate to Texas and feel discouraged.
@ComicLover-oj5sv
@ComicLover-oj5sv 7 ай бұрын
@@cs.8821 Your Midwest state has income tax. Don't be discouraged. You're looking in the wrong parts. Search: "property tax rates by city texas" Also, most of the lists have not been updated. The school portion was reduced significantly this year. My taxes went from 6,700 to 5,500.
@gregorylyon1004
@gregorylyon1004 7 ай бұрын
Why do people buy a home in a HOA ??
@tlindsay1007
@tlindsay1007 7 ай бұрын
​@@ComicLover-oj5svProperty taxes in Texas are far higher than in my state. Even though they've gone up a lot since 2020.
@Michael-qy1jz
@Michael-qy1jz 7 ай бұрын
Warms my heart to NO END watching all thE DUPES buy property at the TOP of the largest BUBBLE in our lifetimes, and then Remodel it all. Lol. Half Price is on its way
@davidhunternyc1
@davidhunternyc1 7 ай бұрын
We need a Half Price Sale across the country. My best friend has been looking to buy in Greenpoint, Brooklyn, and apartments are still selling faster than you can sneeze... and they're shitty apartments too. It's deplorable.
@Michael-qy1jz
@Michael-qy1jz 7 ай бұрын
@@davidhunternyc1 Blame the Federal Reserve & Government for what you have seen. They pumped 8 trillion into the economy in 2020/21 while giving 20 million households moratoriums from rents & mortgages, no student loan payments till last month and 40% didnt pay that, corporate pandemic tax credits as cash back, Fed forced rates to Zero again, Fed bought up 1/3 of the mortgage back securities. Its on and on with how they Caused it!! Largest wealth transfer in history to the top !!
@Dohair879
@Dohair879 7 ай бұрын
What happened is people stopped moving to Florida in droves. Cash buyers are no longer the norm. The locals that have been sitting on the sidelines quit. When rent is less than a mortgage and you can save, it doesn’t make since to pay more to buy. For someone who has over 20% and ready to go. I quit looking last summer. The market was so disappointing I just said NOPE. I have now started to see sellers come back to some sort of reality. No where near where it needs to be but better. I will jump back in the market when rent and mortgage are neck and neck. I give it the fall of 2024 for that lag to kick in.
@hoppeanofasgard1365
@hoppeanofasgard1365 7 ай бұрын
about damn time! for the longest time I was waiting to see price drops to buy in FL, plans have changed now and probably going to Mexico for a number of reasons, but I'm sure many will be happy with this news. Still a concern about their insurance costs though!
@mikesmigielski7273
@mikesmigielski7273 7 ай бұрын
As a newbie to the Tampa area, I hope you are right. Small bungalow homes are being plowed down to make room for larger townhomes and I've seen prices increase 25% year over year (2021 to 2023). Of the 6 or so projects going on in my neighborhood, I see that at least one of them has stopped production.
@michaelsyufy7733
@michaelsyufy7733 7 ай бұрын
Merry Christmas 2:36 Christmas! ! 🎄🧤🎅
@craigp9973
@craigp9973 7 ай бұрын
Incredible it took so long!
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