People LEAVING FLORIDA IN DROVES? 5 MUST-KNOW Florida Predictions For 2024!
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Күн бұрынFlorida was one of the most moved-to locations over the last few years but there is also a dark side to Florida such as the massive spikes in real estate prices, homeowners insurance, etc. In this video, we will explore how Florida will evolve in terms of the median real estate sales price, Florida real estate market crash outlook, population growth, migration patterns, etc. If your attention is on Florida, is a must-watch.
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Timeline:
00:00 - Setting The Stage
00:32 - Current Landscape
02:43 - Dark Side Of Florida
03:26 - Prediction 1: Population Growth
06:31 - Prediction 2: Migration
07:41 - Prediction 3: Preferences
09:10 - Prediction 4: 2024 Real Estate Price Forecast
13:44 - Prediction 5: Demographics
14:16 - Final Thoughts
@TM-nu5vd 4 ай бұрын
Moved from Illinois in 2023 and never looked back. Given the insurance and property tax rates and zero state income tax, my TOTAL expenses for living here are still well below my former expenses being in Illinois.
@katrintherealestateguide 4 ай бұрын
I agree. For many FL is still more affordable.
@jimshoe402 4 ай бұрын
@@nemesisenforcer907 Yes I agree But I'm Rich ,Old,Ugly,Sick and have a Brain maybe he doesn't..$525 a month like $300K house. Local Schools 7 out of 10 and $2m to $5m houses 5 mins away.. Have a Nice (Fr.) Year.🤑🤑🤑🤑🤑
@steveb8503 4 ай бұрын
From IL as well. 100% agree. The state income tax savings are HUGE.
@jimshoe402 4 ай бұрын
@@steveb8503 Glad it works for You..🤑🤑🤑🤑
@GEN_X_ 2 ай бұрын
I moved from Michigan in 2008. If you were in Florida then you wouldnt think it was such a paradise now. Bought my home in Palm Beach in 2011 for 205K. Now goes for $650K. Whatever deal you think you’re getting by just moving to Florida i guarantee you’re getting ripped off.
@muskyful 4 ай бұрын
Florida is just not the paradise for middleclass Snowbirds anymore. After 17 yrs living in SWFL at our winter home, we decided to take our profits and sell. When we purchased our home, the community had a small town vibe with friendly atmosphere.... that has all changed over the last 5 years. Now it's over developed with housing, resorts, traffic congestion, crowds & long wait lines everywhere, even the boat ramps! Our taxes are high, our hoa fees are much higher, home insurance is just crazy high, and many day to day cost are some of the highest in the nation. We also got tired of the flooding & playing Russian Roulette with major hurricanes, and having all to often the costs of cleanup and repairs (deductible). Many folks buying today don't realize all these issues that come with home ownership in Florida.
@domcizek 4 ай бұрын
YES, ITS NO LONGER FUN IN FLORIDA,
@lrc87290 3 ай бұрын
Looks like you cashed out at the right time.
@morgan97475 3 ай бұрын
Interesting info. Thank you.
@barbaramcdaniel463 3 ай бұрын
RAW. Unsweetened. TRUTH.
@NuNugirl 3 ай бұрын
That’s why I moved to the Central East Coast ( Space Coast). It’s still relatively quiet beachside even during high season and very friendly, lower crime too.
@wfqsfg 4 ай бұрын
Florida was a paradise in the 70s and prior. I95 in the winter was empty. North East Florida was quiet in the winter. I lived on the beach in NE Florida and could have the beach to myself in February. Now its too crowded and too expensive. Crime is up. It will never be the same.
@Jersey1971 4 ай бұрын
And salaries here are hot garbage not enough to keep up with the cost of living
@domcizek 4 ай бұрын
YES, I MOVED HERE IN 1980, LIVED IN A CONDO ON THE BEACH, LOW TRAFFIC, IT WAS NICE,
@user-mh8jm1mo2j 3 ай бұрын
Every place changes. Some places just get worse, like Detroit. Colorado changed tremendously in the 20 years I lived there too. It’s way more crowded and going to the mountains takes twice as long (from the “front range”). Clearly, Florida is a place people want to come and most likely always will. Florida has so much to offer, including great weather most of the time. Let’s face it folks, winter’s are still best in Florida. NC, SC and Tennessee still get darn cold and they don’t have any where near the things to do and see. I’ve lived many places and I’m staying in Florida.
@GEN_X_ 2 ай бұрын
@@user-mh8jm1mo2jDetroit getting worse? Detroit is actually way more beautiful and prosperous than its ever been. Nice try though. I moved from Michigan in 2008. If you were in Florida then you wouldnt think it was such a paradise now. Bought my home in Palm Beach in 2011 for 205K. Now goes for $650K. Whatever deal you think you’re getting by just moving to Florida i guarantee you’re getting ripped off.
@Curious_Skeptic Ай бұрын
Florida will come back around. Taxes need to go way up. Insurance needs to weed out the trailer trash, projects and ghettos. Grime will go down. Enforce illegals being deported! Enforce laws to LOCK up drug dealers for good! No change to get out. ENcourage GUN ownership and protect those who protect themselves. RAISE SPRING BREAK specific taxes to charge the living hell out of the trash who come visit once a year. Charge a GIANT tax on euro trash coming for disney and such! Plenty of money to be made and used to improve your state. Doesn't have to be the trash it has become. Your local government allowed those houses to built. You voted them in! Time to take back your own state!
@chester5324 4 ай бұрын
I've been seeing a TON of vehicles with Florida plates here in North Georgia.
@deann0385 4 ай бұрын
I live in Winder GA and there are Florida tags EVERYWHERE. We just had 4 new homes sell in our subdivision within the last couple months and all Floridians
@richardkrueger9097 3 күн бұрын
Been seeing a lot of Georgia plates, here in Cent Florida. People, don't know how to escape Joes madness.....I been here a long time, and the more leave, the better, especially those with NY, or Calif. attitudes. Learn how to vote!! Don't do to Florida, what you did to your state...
@rogerrocco5211 4 ай бұрын
I first started vacationing in SW Florida in 1986. I loved it so much that I purchased a lot on Marco with the expectation that I would build my retirement home. That didn’t occur because someone made me an offer for the lot that I couldn’t refuse. Okay, I’ll purchase a coach house in Lely. Never happened because of personal illness but I continued to enjoy visiting 2-3 times a year. But because of Covid and more illness my last visit was five years ago. I recently rented a lovely condo in Lely for two weeks over Thanksgiving. However SW Florida had changed since my last trip. It was crowded, rude, expensive and stressful. We couldn’t wait to go home. I had another trip planned for May but I immediately cancelled. It’s not the same place that I dreamed about and enjoyed for many. I won’t be coming back to my second home again. But I’ll always remember the great times. Thanks Florida and goodbye forever!
@jimshoe402 4 ай бұрын
I took 4 trips in 5 months last year Same Places. No Thank You rude people no manners and High Cost. LOL
@user-ry6xk6ji7t 4 ай бұрын
we lived in Naples from 2013 to 2021- in that time the traffic, rudeness and expenses got out of control. People down there think they are hot you know what and if you do not golf, play pickle ball and tennis or want to get drink starting at 5 PM you are out of the loop. It got really unbearable- the golf cart crowd in our community were truly obnoxious- they used golf carts to drive to the bar on site to prevent DUIs- several drove off the road and onto the grass at night coming home loaded- the community needed to hire a compliance officer for $60K a year to break up fights- and this was not a low end community- many of the fighters were doctors and professional people aka drunks. As we do not drink, golf,. platy tennis or pickleball due to medical issues we were considered outsiders. Adios Naples- I hope the rich snarky wise@ss who bought our home asking us what we could leave for "mutual convenience" ie wanted all our furniture for free enjoys it there.
@keithhults8986 4 ай бұрын
I started scuba diving the Keys in 1990. I used to love the boating life down there. I flew into Bradenton Sarasota and a 24% covid19 infection rate January 2021 to rescue my infected father. I was hostage to DeSantis selective restrictions and could not leave for 3 months.😡 Medical care in Florida is difficult at best. I never saw medical disregard before, and we were thrown out of my father's doctors office like being thrown out of a bar because dad was 21 days positive, then they attempted to force another 26 days of quarantine and assumed that I was positive by association. What a sh*t show. Tourists don't experience the Florida rudeness as long as the tourists are spending, they mind their manners. You have to live there to have that experience. The 40% year round native Floridians do not like the 60% transplants and snow birds. It rains allot more than 30yrs ago and the natural state has become all sprawl and strip malls. Now more than ever, don't drink Florida tap water.
@domcizek 4 ай бұрын
YES, THERE ARE MANY PLACES YOU CAN LIVE, TRAVEL AROUND THE COUNTRY TO FIND THEM WHILE YOU ARE FELLING GOOD BEFORE IT IS TO LATE TO TRAVEL
@callmeishmaelk767 3 ай бұрын
In the early 1980s there was basically nothing on Marco and Naples was a very quit town.
@LifeProducersofNewJerseyLLC 4 ай бұрын
Just my two cents, but it takes about 3 years living in Florida to get sick and tired of it and want to leave. Its not really cheap anymore, and it gets boring. My aunt and uncle lived in Naples for years due to health, but when he died, my aunt wanted to go back to her native Canada. My parents lived in Sarasota for years, but were snowbirds, and admitted to me that it was not the place to live year round, after 16 years sold and moved back to NJ. If you are young, good luck getting a job to afford that $400-$600 gated community home along with the HOA fees; what golf course, retail store, or restaurant, job is going pay for that and to get you to live a good life in Florida?
@NicholasCampbell-pe3db 3 ай бұрын
Florida, as a general rule of thumb has always had quite low wages because it is such a service based economy with tourism related employment such a large part of the wages structure. These types of jobs are not normally going to make you wealthy. Now with expenses and living costs soaring there, your pittance of an income goes even less far than it did say 10 years ago. I do come back for visits from Australia, which is itself a fairly expensive place to live. My wife and I were shocked at how expensive it's become over the last several years. Prices used to be notably lower than Australian prices were on most things, even with the currency differential, but not anymore. Only petrol is still much cheaper than it is here. Plenty of jobs are available to be sure, but you need them to keep up with the cost of living. You have to count your dollars.
@richardkrueger9097 3 күн бұрын
They did it wrong bro. HOA? your from NJ. You don't have what it takes to be a Floridian. Nothing to do? Gated community? What were they thinking? If you don't do you do diligence, and just blindly move to Florida, you get what you get. I have none of your problems, or expenses. I pay 850.00 a month with all my house bills including internet. and I don't have a 300-600.00 gas bill. And I get to keep what I make, not give a part to the state. We have some of the best horse trails around, beach for days, water parks, and sea world, Disney, and so much more. I know you have so much more in NJ. That's ridicules' Why do people come here on vacations? Not for lack of something to do..
@richardkrueger9097 3 күн бұрын
Oh yah If people want to work, they can make good money here. Problem is, all they do is complain about the heat, or the sun, or the time till there next joint, or fix.
@LifeProducersofNewJerseyLLC 3 күн бұрын
@@richardkrueger9097 I go all the way back to the 80's with Sarasota. Florida has always had its issues, but recently, the prices are through the roof with housing. Countless youtube videos about the issue from your FL brothern. Maybe you need to spend more time on message boards with fellow Floridians?
@richardkrueger9097 3 күн бұрын
That's because your on the water, and in a flood zone, otherwise our insurance, and mortgage have been the same since 2021. Get a little inland, you can still enjoy the Water, without living on it...$850.00 isn't That expensive. Your gonna loose your gas stove, and dryer, and GOD knows what they think of next. We will never loose ours, as long as we vote right your state didn't, how are things little unsafe now. I carry and feel pretty safe, in Florida where you can. You pretty much gave up your citizenship. and moved back maybe homesick, and bad choices.@@LifeProducersofNewJerseyLLC
@MrRay47 4 ай бұрын
I've lived in Florida just a short drive North of you for the past seven years and before that I lived in Hawaii for over 20 years. Most of Florida is sub-tropical while most of Hawaii is tropical. Back in Hawaii we thought it was cold if it ever got down into the 60's. In Central Florida just north of Sarasota it freezes several times a year and even 35 miles inland the humidity is oppressive and can cause significant damage to the interior of a house where the windows are open when temperatur4es are moderate. In Hawaii I never even owned an air conditioner and the windows were rarely closed if someone was home. Bottom line is that Hawaii is also tropical and has better weather almost every day of the year.
@jimshoe402 4 ай бұрын
Buddy has a 2 Bd Condo Open EW so no AC use $60 per HaHa..Think before u BUY !!!! ALOHA🥰🥰🥰
@steveb8503 4 ай бұрын
... and homes in Hawaii are often $1,000+ per square foot with what I'd say is often low to mid-grade build quality. Everything is a cost / benefit.
@pugito4525 4 ай бұрын
Yea, and you get the high crime in Hawaii. I lived on Oahu for 3 years and couldn't believe the crime. Beautiful? Yes, Safe....not so much.
@domcizek 4 ай бұрын
YES, YOU NEED THE A/C IN FLORIDA MOST OF THE YEAR, OTHERWISE MOLD WILL FORM,
@PETER394100 4 ай бұрын
Florida’s climate was originally meant for ‘reptiles’…..not humans!
@rjv1415 4 ай бұрын
Being in telecommunications field, I travel most of the state. From Tampa to Naples is the worst congestion especially traveling to the beach areas of Sarasota and Ft Myers. I wouldn't take a place for free. Heat is unbearable, high insurance both home and auto. Florida is not the paradise it once was, my company is relocating me to Utah can't wait.
@mad8861 4 ай бұрын
I was born and raised in Miami Beach and the traffic and so many people not to mention home prices and insurance and taxes are crazy
@karnevil9959 4 ай бұрын
The rising inventory in SW Florida during the Holiday period which is usually slower time to list cannot be ignored. A year ago there was a wait list for a particular model of new home I was interested in. Now there are a half dozen that I can choose from today. All the while realtors where spinning the wont happen here "low inventory" mantra but as inventory normalizes and breaches the 6 month of supply mark magically a new reason will be formed by not all but many. There is a lot of uncertainty in this economy right now. Lower rates will unleash the sidelined wannabe sellers and flood the market thinking they can still make a decent return before prices fall to their long term averages. It does not necessarily need to happen, all that is needed is sellers thinking it could. FOMO is not only a buyer phenomenon.
@domcizek 4 ай бұрын
WHEN THE FEDS LOWER THE INTEREST RATE IN JUNE, PRICES WILL THEN GO UP
@karnevil9959 4 ай бұрын
@@domcizek uh huh....
@domcizek 4 ай бұрын
YES, MORE PEOPLE WITH MONEY MOVING TO FLORIDA, THEY WILL BUY THESE OVERPRICED HOUSES, THE HOUSES UP EAST SELL FOR 700 THOUSAND, THEY SELL, BUY ONE HERE FOR 400 THOUSAND AND HAVE 300 THOUSAND LEFT TO PLAY OR RETIRE WITH @@karnevil9959
@loveofinquiry8067 4 ай бұрын
To many people, to high priced.
@lrc87290 4 ай бұрын
What about the condo 800 pound gorilla? Structural assessment of condos 3 stories or over in 2025. And they are required by law to fund the capital repairs needed. All buildings 30 yo are going to need multi million dollar repairs.
@danagiammancojesussaves4655 4 ай бұрын
Another great video. Very informative. Happy New Year, Katrin!🎉
@katrintherealestateguide 4 ай бұрын
Thanks so much Dana! Happy 2024 To You As Well!
@theheat7880 4 ай бұрын
Right on point. Thank you.
@katrintherealestateguide 4 ай бұрын
Welcome!
@CD-ql9hz 4 ай бұрын
Looking forward to more great videos from you in 2024! Happy new year!
@katrintherealestateguide 4 ай бұрын
Thank you for watching! Have a great slide into 2024!
@danacaro-herman3530 4 ай бұрын
Very good information Katrin, Happy New Year friend!!🎉♥️
@katrintherealestateguide 4 ай бұрын
Thanks so much! Happy New Year 2024 :)!
@stevegiblin270 3 ай бұрын
Good information keep up the good work 😊
@Jimpard 4 ай бұрын
I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2024 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk
@MichealTanner141 4 ай бұрын
Best thing you can do to derisk is diversify.
@Bradleyschaeffer376 4 ай бұрын
Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
@Ashleycorrie8494 4 ай бұрын
A good number of people discredit the effectiveness of financial advisors, but over the past 10years I've had a an advisor consistently restructure and diversify my portfolio/expenses and I've made over $3million in gains... might not be a lot but i find myself secure financially
@GaryWinstonBrown 4 ай бұрын
Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?
@Ashleycorrie8494 4 ай бұрын
Samuel Peter Descovich is the analyst that helps me. He has a large following and is easily found online. He has extensive understanding as I have made so much since following him.
@louispetronio6536 3 ай бұрын
Katrin, I am in the restaurant business, and us long time locals can all recall the times when Sarasota was seasonal, I have lived in Naples twice. But it was the 2020/2021 season when all of us took notice of how some of our restaurants here never really slowed down until some time in August. I never got a real break in 2021. It was that summer that told me that we are now a year round tourism state. With the execption of September/Early October. aka, the hurricane weeks(god forbid) at least the Sarasota/Tampa area is jamming! and anyone who bought their home/condo by the end of 2020 were very lucky! Like Me. Now, with the more expensive home prices, you almost have to be a millionaire to buy a very nice home here(am I right?)
@1Skeptik1 4 ай бұрын
I would like to see a sign posted at the Florida border: Florida sucks, your state is much better, go back! Canadians welcome, bring money! LOL, Regards from Tampa. I moved from PA 20 years ago, and I'm delighted with that decision.
@jimshoe402 4 ай бұрын
Thanks!
@jimshoe402 4 ай бұрын
Happy New Years..Buy yourself a Cheap drink and post more. ORD one Snow 2022 and None 2023yr. Make $$$$ 🤑🤑😁😁
@katrintherealestateguide 4 ай бұрын
Jim, thank you so much for appreciating the content. I will get more content over soon...trying to find the time :).
@royportalise5269 3 ай бұрын
Bom Dia Katrin. What’s your opinion on Mirada in San Antonio? The builder is Lennar. Is now a good time to build there or wait. Obrigado 🇧🇷
@Maymosworld 4 ай бұрын
Good video! If rates don’t come down significantly, which I doubt they will, the values will because the homeowners insurance cost is staggeringly too high. 2025 could be the best timing for purchasing again! And CASH buyers will now have the opportunity to really take advantage of this market!!
@loanokaharbor8303 4 ай бұрын
It's all a question of demand and who will migrate to FL, whether prices will come down regionally in Florida. If inflation and the high taxed States of CA, NY, NJ continue to be oppressive to live in (it will probably only get worse) and many in these States have significant amount of high paid State employees with great pensions that are still reaching retirement age in the next 5 - 10 years, so many tens of thousands of these people will have lots of cash to buy their "dream". The question is in what warmer States will the costs be the lowest and biggest bang for the buck, without the constant fear of hurricanes or tornadoes. No State is perfect because of either crushing taxes or potential weather hazards.
@domcizek 4 ай бұрын
YES, AS SOON AS RATES START COMING DOWN, HOME PRICES WILL START GOING UP,
@user-mh8jm1mo2j 4 ай бұрын
In every state, people move in and move out for a variety of reasons. For every person that has been a Florida resident and decides to leave, there will be at least one buyer, in time. Florida is an amazing place to live with so much to do and great weather. If it is your goal to live in an area that seemingly has less weather related events and is thought of as more “affordable”, go for it. You can have it. For me, I want to live my life to the fullest and that means living in Florida.
@katrintherealestateguide 4 ай бұрын
Thanks for sharing!
@domcizek 4 ай бұрын
YOU MUST MAKE OVER 80K TO LIVE IN FLORIDA, FLORIDA WILL ONLY HAVE RICH PEOPLE IN THE FUTURE
@jimshoe402 4 ай бұрын
About Time u must be Busy with Snow Birds. They come to drop off $$$. Happy New Year 😁😁😁
@katrintherealestateguide 4 ай бұрын
Happy 2024 Jim. Hope you had a great celebration!
@FinarfinNoldorin 2 ай бұрын
I am a native Floridian, and I left. I will never go back. It is so sad to see what has happened to my state.
@karingoodman4999 Ай бұрын
Why is the cost of living there so high now? What's going on there
@jeaby2757 3 ай бұрын
I left Fort Lauderdale in the beginning of 2017,sold our condo unit. We got sign of changing in FL by that time.
@dbrew2u 4 ай бұрын
Florida will remain a Real Estate Hot Spot for a very long time to come . There will be No Real Estate Crash . In fact , if Rates fall below 6% as expected in 24 . Home Prices in Florida will climb rapidly as people rush into the Florida Market . But a Cat 5 Hurricane striking the State could change everything .
@soquick69 4 ай бұрын
As someone who was here in 06 the same patterns are happening. Demand started freezing up around 5%. Prices will revert to the mean.
@Patadeperro719 4 ай бұрын
Builders are offering 5% rates and the houses are not flying of the shelf. Rate is not an issue I doubt that the Covid effect will repeat
@dbrew2u 4 ай бұрын
@Patadeperro719 Prices are the problem . The point being that lowering Rates will not lower Prices . Our 1st Home had a Rate of 9% . But the cost was less than a 1/4 of an existing Home today .
@Patadeperro719 4 ай бұрын
@@dbrew2u I agree prices are the problem!! The rate @6% is not an issue
@GEN_X_ 2 ай бұрын
Lol yeah i remember people like you saying the same thing in 2007. Nice try. I moved from Michigan in 2008. If you were in Florida then you wouldnt think it was such a paradise now. Bought my home in Palm Beach in 2011 for 205K. Now goes for $650K. Whatever deal you think you’re getting by just moving to Florida i guarantee you’re getting ripped off.
@s99614 4 ай бұрын
Remote work jobs are extremely competitive because everyone wants one.
@michaelhuey6756 2 ай бұрын
Been here 5 years and love it
@soothsayer2406 4 ай бұрын
I'm sorry, but I believe your right about all your points...except the part about home prices crashing....when the layoffs and riots start occurring in 2024-2025 then the home prices will start crashing due to people being unable to pay for the ballooning mortgages, insurance, taxes and living expenses.
@viadharmawheel 4 ай бұрын
It is not going up 3-7%. It will stay stable or slightly decline.
@yume816 4 ай бұрын
Not the coastal cities. People are still flocking in with NY and Cali wealth.
@katrintherealestateguide 4 ай бұрын
👍
@timothymcclain2150 4 ай бұрын
Why would there be massive layoffs and riots in 2024? Based on what? The data on the economy, the unemployment rate which is still under 4%, inflation coming down, and even the stock market (we're on a massive tear) indicates otherwise. Based on this, the trajectory is home prices continuing to increase albeit at a slower rate.
@oscalsochirino8706 2 ай бұрын
@@timothymcclain2150why os google search can’t Pay credit card amd return my car all time high. No one is buying houses just chinéese cash buyers
@cgillit 4 ай бұрын
Largely agree. I always appreciate your sober analysis and that you don't prey on vulnerable people with Doom and Gloom for clicks. I think 2024 will continue the slow down from the COVID era craziness, mainly because the AirBNB investment property craze has died down, but at the end of the day... a) God made a limited amount of warm weather coastal land. That means scarcity. As long as people like warm weather and beaches, there will be demand for Florida Real Estate over the long run. And even after the last few years, Florida is still way more affordable and less over-developed than California. b) As far as housing affordability goes, if you look at other examples of developed warm weather coast locations (California, Australia) you see it can always get worse. Way worse. Homes are not being priced vs incomes; they are valued off the net worth of the (arguably small) group of Americans that get to participate in asset markets. They’re feeling good. Nominal household net worth keeps going up. Stock markets are currently at or near all time highs. Interest rates are likely dropping. Vast majority of buyers are bringing equity to the table from their previous homes. If you value homes by "Avg income vs Avg price" you're probably confused why prices keep staying stable (or going up).
@davescott1491 3 ай бұрын
Very interesting assessment. My only observation is the massive impact the baby boomers have had on price appreciation across America and in Florida. The largest population (the boomers) driving the economy is aging out, dying or not coming to florida for many reasons. And many employers are recalling employees, requiring at least a few days a week in the office. But dying economic drivers of the baby boomer, in my opinion, will significantly affect the supply and demand realities.
@katrintherealestateguide 3 ай бұрын
Time will tell. A big portion of baby boomers have not yet retired while Gen x (right behind boomers) are creating more wealth.
@soquick69 4 ай бұрын
The chart you show starts in 2008 inventory started building up in 06 do you have the data leading up to 08? You are using median price but volume is extremely low. Inventory is building up and i don't think people realize how competitive new builders are.
@markbotticello-gp9gx 4 ай бұрын
Port St Lucie home values are dropping as a rock
@1alexcody 26 күн бұрын
do you know where I can find a Drove?I never have driven a Drove
@worldadventuretravel 3 ай бұрын
I've lived in FL over a decade and never bought a house here. As soon as I finish grad school in the state due to the state grants I'm receiving, I'm out of here. I'd never consider paying these prices for houses. If I'm gonna drop that much money on a house, I expect to get what I pay for in terms of build quality, condition, size, and features. "Market value" is irrelevant. ACTUAL value is all that matters to me. And you don't get that here. Add on the ridiculous cost of property taxes and insurance, and the fact insurance carriers pull out of the state every time there's a hurricane, and you'd be an idiot to invest your money here ESPECIALLY if you have public school-aged kids. (Unless you want your family educated in the bottom 50 of all 50 states.)
@rudolfohisena5701 4 ай бұрын
What goes up, must come down. When supply outpaces demand, the buyers market kicks in, and no one knows when the slide will end.
@danblekeberg2470 Ай бұрын
Kathrin move to Minnesota. High taxs and low temperatures. You have it made living in Florida !
@user-ju2su4eo2c 4 күн бұрын
Built a house in Cape Coral 1979 - Never got hit hard (tree damage - Yes), never structural all these years, even last year with Ian. Sold the property last November not because of the fear of the weather, in a Tropical Climate _ Expect that. However the drop in property prices, the cost of or the cancellation of Insurance, rising Taxes, some of the New Folks Moving Here, Etc . . . . Paradise Lost.
@WendyHardy-wo6gl 4 ай бұрын
She forgot the insurance, mortgage rates and property tax I see an exodus Yipee
@RealityTrailers 4 ай бұрын
I live in Florida and I made almost $100k last year, so I think I'll stay here.
@ronen160 4 ай бұрын
perhaps you are talking more about the "house" housing market and not the condominium market.......? I don't see how the new cash reserve laws and structural inspection/remediation/maintenance laws would not greatly impact the condominium market going into 2025, but starting in 2024, when people look to unload before the rush...........? your thoughts?
@robdisco9287 4 ай бұрын
Yep I live in N.C and my small town is getting bigger
@joelsandler1119 17 күн бұрын
Moving to Greenville SC, from Coral Springs, Fl. Too many people, not enough land for more people. My expenses will go down close to 30 percent. Food will be the same.
@timothymcclain2150 4 ай бұрын
As a condo owner in Palmer Ranch, Sarasota, I have been concerned about the insurance crisis and it still gives me pause. But then I am reminded of the migration from CA and NY and the fact that these people still come out on top even after paying their insurance. I see wealthier people moving into the state and (unfortunately) less wealthy who cannot afford the insurance and the increased costs moving to places like TN, SC and GA. It is gentrification on a macro or statewide level which, as a homeowner, has persuaded me to stay longer and to stick it out. While I am seeing price increases at a higher rate for single family than condos, condos are not losing money either. I am also 4 miles inland and 12 minutes from the coast which I view as ideal. I live in an x zone and no hurricane surge to worry about. I do hope however that there will be relief in terms of the insurance crisis. I have heard rumors that several major initiatives in the state legislature involving insurance reform are being proposed so stay tuned to what might happen there. Thanks for your analysis, Katrin.
@katrintherealestateguide 4 ай бұрын
Tim, thanks for sharing all your thoughts. Agree with many of your insights. We are neighbors. I live in Palmer Ranch also ;).
@timothymcclain2150 4 ай бұрын
I think Palmer Ranch could see more developing interest now with (as you said) people shying away from hurricane issues involved with living directly on the coast. The neighborhood is still a short drive to the coast, much less expensive than Lakewood Ranch, and has many amenities like close to Gulfgate that other areas simply do not have. It is a well established area and even has pockets of new construction. It is the new sweet spot. What's not to like? But then you know all of this! 🙂
@domcizek 4 ай бұрын
UNLESS FLORIDA SUBSIDISES, HOME INSURANCE ON THE COAST, ONLY MILLIONAIRS WILL OWN THESE PROPERTIES
@timothymcclain2150 4 ай бұрын
@@domcizek Right and I think you actually just solved the problem. Let the millionaires have the coasts and let them deal with their problem on their own and self-insure. It is mostly only high worth people who can afford to live on the coasts anymore and they are choosing to live there. We're certainly not forcing them to. Why should those of us who don't live there pay for subsidies through taxes and higher insurance rates to bail them out when our property suffered much less damage?
@domcizek 4 ай бұрын
YES, MOST MILLIONAIRS HAVE 3 OR 4 HOUSES ALL OVER THE GLOBE, THEY CAN AFFORD TO LOSE THEIR HOUSE, AND JUST REBULD, JUST LOOK AT TALOR SWIFT, SHE HAS 4 HOUSES, GEORGE CLOONEY HAS A HOUSE IN ITALY, THEY DONT KNOW WHAT TO DO WITH THEIR MONEY, @@timothymcclain2150
@jerryrichardson2799 4 ай бұрын
No need to predict, Florida has one of the highest median ages(5th) and dependency ratios(7th) of any state in the country.
@warrencollings9784 4 ай бұрын
New construction is the largest portion of sales in your area? Or no?
@mariab8711 4 ай бұрын
Beautiful Beach but no jobs and high insurance.
@danielhuntington2116 4 ай бұрын
I think you pretty much nailed it.....with one major category 5 outlier🤔🤔.....that major outlier would be a recession of note....which I know the experts are saying is now improbable. There are still dark signs though...like still incredible inflation of roughly 20% since it started...on top of that record personal debt now in like credit card debt and car loan delinquency as examples. (An interesting topic for you would be to see the current mortgage payments delinquencies?) With this being said if a recession came along that drove the unemployment rate up this could cause a major housing crash....and would stop new housing building in its tracks. In 2008 SW FL went over 10% in the unemployment rate and all housing trades stopped...i think Florida's population even contracted then.?...ok...enough doom and gloom...and time is going play out whatever is going to happen.
@AlphaJ369 3 ай бұрын
Floida crashed 50 to 70% last time and this time I feel will be the same but will decrease over the next 5 to 7 years. I recently sold a c I uple rentals I had in Tampa.
@FLAC2023 4 ай бұрын
Because only the corrupt rich people can afford it!
@gfg5622 4 ай бұрын
Florida hot traffic low paying jobs slow living night life expenses insurance Good for vacation
@winstonsmith6204 4 ай бұрын
Florida will go through some price pain. Price discovery is going to happen.
@michaelrubin2240 4 ай бұрын
👍👍👍
@the1one132 4 ай бұрын
You forget the new home building cancelation numbers for just the month of october, where 70k plus. So what do you mean it will not drop ? The builders are offering incentives, which means they are not getting buyers as much as they need. They are offering big incentives at that.
@jdmather5755 4 ай бұрын
Hawaii, hold my coffee…
@kingscairn 4 ай бұрын
Hawaii ? 😄😆😅🤣😂
@theewelder 4 ай бұрын
1 more volcano......and its going to be a giant mountain soon....
@jimshoe402 4 ай бұрын
Yes u are the Smart one of the Masses. Waikiki been there 10x's BUT Crime going up after 10pm but No Tents.🥰🥰🥰🥰
@chriskleinbach-vd5ch 3 ай бұрын
Lived here all my life. No girlfriend. No wife. No kids. No car. No house. No life. Don't move here if you are a young single male.
@jsa4864 Ай бұрын
Their goal is to get everyone living along the water to leave so developers can build in these pristine areas
@xtbum3339 4 ай бұрын
Always thought FL overrated. Never any interest in moving there.
@criticalinfrastructurepart1959 4 ай бұрын
You're smart, it blows here
@dillanghee4683 4 ай бұрын
Ayo you hear me damn I meant grease !!
@longhair5860 4 ай бұрын
Are you saying people are leaving New York and California. Now why would they leave paradise. I grew up in Florida and i am retired and on my way back. I live in a big motorhome, So i can travel all over the state.
@gregoryfluellen4831 4 ай бұрын
Drove of ppl noving in at the same time.
@elfuturomio 3 ай бұрын
It's called snowbirds
@nancylpr 4 ай бұрын
Things crashed in the late eighties and stayed low for a long time.
@Patrick-yh5yd 4 ай бұрын
Moving to Tenn.? those Southern Democrats do not want you. How about that Nashville crime?
@kingscairn 4 ай бұрын
Every democrat city will be an asylum by default - cant argue withbthat and you know it
@iamGrowing 4 ай бұрын
Breath of fresh air from Bordenaro. He’s all doom and gloom on the daily basis. I do watch his videos but it’s more for entertainment value. I work on Wall Street and you seem to analyze the real estate market like someone that works at GS or MS. You do a very good job. Thanks for the video.
@theewelder 4 ай бұрын
"Bordenaro. He’s all doom and gloom on the daily basis." haha ...yea pretty much, and says literally EVERY OTHER WORD (its soooo annoying)...and says GUYS alot as well.
@RedWolf75 4 ай бұрын
The truth is Florida is becoming for the rich. My wife and I may move to Delaware. Cheaper costs of living, better schools and higher pay.
@iamGrowing 4 ай бұрын
@@RedWolf75 you won’t like the weather. Winters are gloomy, cold and dreary like the rest of the northeast.
@livingmybestlife365 4 ай бұрын
Michael comes up with a new reason every week why the market will crash, he’s been wrong time and time again and always comes up with a new excuse. He’s click bait fear porn for revenue. He learned from reventure consulting
@katrintherealestateguide 4 ай бұрын
Thanks so much for your positive feedback on the data analysis. Not sure about Bordenaro (he seems to be well-intentioned), but a lot of the other crash channels are click-baiting on fear and making lots of $ on views. Crash videos get more views, so more time for ads to run on the videos. I tell people to do their own analysis and follow credible industry forecasters.
@mooncloud6563 4 ай бұрын
People in Arizona are paying for higher insurance because of people in Florida lol
@johnf6687 4 ай бұрын
Game over time to leave rules change for official now leaving disclosure
@Steve33056 25 күн бұрын
You are mistaken. The home prices are too high. Don't forget the property taxes, HOA fees, and interest rates and insurance have increased, making FL no longer affordable
@richardkrueger9097 3 күн бұрын
If you don't live by the water home owners is reasonable. Try a gas bill at 300.00 a month, on top of all your other bills, and then some politician with their hands in your pockets, like Kathy Hochul....
@PeterLawson-wn6tr 2 ай бұрын
It's horrible. Down there
@danielkamui6559 4 ай бұрын
The main reason is your mayor
@kingscairn 4 ай бұрын
Mayors are elected da😅
@getouttheguns8179 4 ай бұрын
@katrinfromyoutube , luckily people are still moving here in mass, not leaving. I am getting ready to sell my farm (home and land) and have a lot of people telling me that other homes are still selling super fast here (just north of Tampa). A neighbor sold in 2 days, several others in a week. Maybe it is because our property taxes are lower, electric lower, insurance again north of a Metro area. I think the population growth in Florida will be very strong for the next 10 years. Interest rates are coming down, more inventory here is being built so fast, new sub-divisions are everywhere. I think Florida population will be in excess of 35 million in the next 10 years. The whole Southern US Market is hot.
@jimshoe402 4 ай бұрын
Raise the Price Trump gets in UP !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
@RedWolf75 4 ай бұрын
The issue is once people see pay is lower compared to cost, they will get a reality check.
@jimshoe402 4 ай бұрын
@@RedWolf75 no pay and local fools here.. Call them FBI..ALOHA😁😁😁😁
@1969bones69 4 ай бұрын
And where are all these people going to work? Doing what..exactly? And the infrastructure cannot handle the population now...
@1969bones69 4 ай бұрын
@@jimshoe402 You should look into getting sober. Just saying.
@joey525 2 ай бұрын
Why all these foreigners are real estate agents? Is that easy?
@terrygolden7726 4 ай бұрын
Big island has 9 of 11 climate zonr zones, best braches in usa. Lowest property tax affordable hkusing, and everyone speaches English something yku cant st Y abt fl. I thi k as more retires leatn abt hi they will see that hi is way more agreeable with much better healthcare and really great wx. Oh the prices will crash asthe insurance and elecrity costs skyrocket.
@jimshoe402 4 ай бұрын
crime
@terrygolden7726 4 ай бұрын
@@jimshoe402 fl has way more crime then hi x the ouna distict bc there are like zero illegals.
@jimshoe402 4 ай бұрын
@@terrygolden7726 Nope called Pacific islanders just like Chicago people. Been watching CH 2&4 for 5 years lots of shooting now....ALOHA
@runfayalife 2 ай бұрын
Don't be mistaken. The insurance crisis wasn't caused by a hurricane, it was caused by Ron "Big Boy Boots" DeSantis and the Florida Legislature.
@seawallbreeze9616 4 ай бұрын
I can't wait until homes are more unaffordable once interest rates drops this year, it will slow the migration
@the1one132 4 ай бұрын
With the insurance issue alone, the housing market has dipped. Not to mention the car market and jobs having major issues. The real estate market will not remain untouched. The prices on houses in some areas have already dipped as much as $100k, so you saying it will not be touched is kind of funny to me. These other markets, like the car market dropping, are a sign of bad times. Vehicle repossessions are up, which means people do not have the money to keep the cars. The housing market has been able to keep the foreclosures quiet and drip the homes onto the market slowly to not cause a panic is great. That can not last forever. I'm happy to see you have a good outlook, but I'm guessing the stock market might not be something you follow.
@JohnAppleseed-cy1rd 4 ай бұрын
Im mostly interested in whitening teeth program
@katrintherealestateguide 4 ай бұрын
You’ll find it everywhere 😅
@JohnAppleseed-cy1rd 4 ай бұрын
@@katrintherealestateguide not the atomic white though hehehhehe
@katrintherealestateguide 4 ай бұрын
Atomic white is the best? I'll need to try that one in Texas! @@JohnAppleseed-cy1rd
@JohnAppleseed-cy1rd 4 ай бұрын
@@katrintherealestateguide more like New Mexico hahahahah. Look it's lovely , and it comes with the Florida vibe. I want it I need it I'm moving into a 2M house. Therefore I deserve it and no one can tell me otherwise
@user-kk9qg5ny2w 4 ай бұрын
Hell yes please move out
@user-kk9qg5ny2w 4 ай бұрын
Love it
@MrLeona017 2 ай бұрын
Better than California, never looked back
@katrintherealestateguide 2 ай бұрын
🙌🏼
@romanhollow2985 3 ай бұрын
What a mess Florida is. The state of diminishing returns.
@1011100001010100 3 ай бұрын
Florida could be a horror movie for some people.
@mikem9366 3 ай бұрын
We moved here 2 years ago and I'm at 45% regret. This place was supposed to be the savior state, it's not....ill give it up to another 5 years of I don't love it I'm going back, Desantis is not the great governor he pretends to be....
@feleciawallace8420 4 ай бұрын
It appears too many young remote workers have moved to Florida and that has ruined the state in my opinion... also if there's high numbers of Californians and New Yorkers moving to Florida, I'm hoping they're not bringing along with them their Democrat views and flip to vote to change the state from Republican to Democrat, this will only 1000% destroy the beautiful state of Florida.
@Jersey1971 4 ай бұрын
Yes, Florida will be California 2.0 in less than 20 years if the donkeys take over everything they touch turns to 💩
@travelingwithrick 4 ай бұрын
Republicans are currently ruining Florida. Wake up, look around. Theres a reason its called the hate state.
@russellboyd-jb8jv 4 ай бұрын
the high prices for insurance in Florida will pass. People are leaving Florida, but more are coming in, than leaving, and always will be...
@user-kk3qg5el1m 4 ай бұрын
Doesn’t mean everyone moving here are buying homes, especially if they are working here on low wages.
@JJPepper 3 ай бұрын
Wow, to put out so many negative videos about Florida makes one think that "someone" is being paid to do it.
@katrintherealestateguide 3 ай бұрын
I don't think you saw the video, did you? I was not being negative in it, just stating the facts. For most people, FL is a great option to consider. And no, I am not being paid to do anything.
@JJPepper 3 ай бұрын
Not being paid? Then, what is the real reason you are putting out so many negative videos?@@katrintherealestateguide
@JJPepper 3 ай бұрын
And I DID WATCH THE VIDEO.
@JJPepper 3 ай бұрын
AND I SAW ALL OF THE OTHER VIDEOS LIKE "6 REGRETS MOVING TO FLORIDA"
@katrintherealestateguide 3 ай бұрын
I am not going to sugarcoat videos. Sorry, that would be misleading. I always do explain that I love it here and many will. But I do believe people also need to know the good AND not so good. @@JJPepper
@kimyoung2748 2 ай бұрын
Dont come to Michigan. Don't come, don't come. 😅
@cutum 4 ай бұрын
Maybe all the Yankees will exit Florida 😂
@jimshoe402 4 ай бұрын
Dem Yankees Redneck the Others ones Got the Money to pay ur Taxes ..🤑🤑🤑
@johnpinner1 4 ай бұрын
Don't move to Florida if you are Demorat please
@joegann7243 Ай бұрын
Please do not move to Florida and if you live in Florida now please move out of Florida. Thank you
@oscalsochirino8706 2 ай бұрын
For every person leaving Florida there’s 2 illegals moving in
@janethill4365 4 ай бұрын
Florida has several hot spots to avoid:Dade, Broward Palm Beach counties, Tampa, Orlando and Gainesville to name a few. They are liberal cesspools.
@kingscairn 4 ай бұрын
Any college town will be a nasty, dangerous and insane place
@theewelder 4 ай бұрын
Tampa, Orlando.....yes.....blah your correct.
@martinbattle4443 4 ай бұрын
Lady, you're in for a big surprise, you have a little experience. It's gonna be worse than 2008. Be honest, you're just trying to hold your job. Which most readers have lost and is going to lose it. So say your money lady cause you're gonna have a good job😅😅😅
@katrintherealestateguide 4 ай бұрын
Real estate is cyclical but it will likely not crash worse as it did in 2008 any time soon. But believe what you want to believe 😉
@stevegiblin270 3 ай бұрын
I will visit Florida on a budget and not buying because it is no bargain anymore! Plus you have a good Governor who should try to fixed the problems and I will keep my fingers crossed?🇺🇸🍀
@ocean1233 4 ай бұрын
I would NEVER bring a child to the Florida dictatorship education system ‼️ due to horrendous gov. COST IS OFF THE CHART‼️ OVERPOPULATED ‼️ UNBEARABLE HEAT IN SUMMER ‼️ P
@mdenisen 4 ай бұрын
Another reason we love Desantis, keeping our children safe from freaks like you!!!
@night5091 4 ай бұрын
Oh like lib States pushing gender crap in schools. That’s great.
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