What they aren't telling you is that there is literally nowhere to move. Every place in the area has a two year back log. I know because I live in Sarasota. I work my butt off. But when my 1 bedroom apartment literally DOUBLES in price (1,500 to 2900) literally because they can get it, it's just crazy. I work 50+hours a week, and I still am having to move out because I can't afford it. No idea where we are going.

I know a younger couple that had been renting a nice three bedroom with pool a few blocks off Bee Ridge. It was an older house built in the early 60s with a single car garage It needed some repairs and updating but It was still nice. They had been saving up money for a down payment to buy the home when one day they got the call from their friend / landlord that the offers from investors had just become so large they couldn't afford to say no anymore. Their month-to-month lease was terminated and they had a very short time to find somewhere to live. The only place they could find that had units available was way out on 64 past Lakewood Ranch boulevard, miles from where both of them work in Sarasota. Now not only do they have longer commutes. Their rent has gone up to the point where they can no longer afford to save for a down payment and they are living in a tiny two bedroom on the far outskirts of Bradenton. I drove by their old house the other day. I have no idea what's going on there but it's been painted and there were several construction vehicles parked out front. Welcome to Sarasota.

I’m a native Floridian with 2 jobs: I work in a high-volume moderately priced breakfast diner in an affluent area, so daily tips vary between $150-$300 per shift depending on the day/season. I also work for Amazon in a warehouse about an hour away. I make $16/hr and have full benefits including free education, so I’m completing my AA and pursuing a CDL license. My parents own a home in the neighboring Manatee county because it was passed down from my grandparents. They also rent in a 65+ community. As much as I’d like to be like my parents (my dad’s retired military and post office, my mom was a CNA and started her own company with my aunt), I can’t see it happening. We’ve spoken about this too. I think I’m going to need to move to Houston for a few years to save money for a tiny house. Then, if I want to come back to Florida, I can park it in a community… but I think the days of buying homes here on a blue collar income have passed.

The rich will have to eat money when the poor no longer makes food

This is why I recently left. My crappy 600 sq. ft. apartment off of Fruitville went from $1,350 to $1,815!!! Are you kidding me!!! I now live in Arlington, TX (Next to Dallas), in a great neighborhood with tons of jobs for $910 a month. Get lost Sarasota!!! Florida as a whole is insanely overpriced.

I was born in Sarasota Memorial Hospital and graduated at Sarasota High, I'm 22 years old and I haven't been able to even consider moving out due to the price of housing

Be real! Investors came in about 5 yrs ago and started buying up apartments. They painted and did a little landscaping, raised the rents, then sold the properties. When new owners bought they kept prices up and then raised them again. Then the economy with prices for building etc went up etc. Between investors and economy people are priced out of homes. It's not people moving here. It's happening all over the country.

Let's be honest. I live in Sarasota and the major problem with the housing market here is investors and house flippers driving up the costs and pricing the middle class out.

As a 28 year old Florida native that just moved back after 6 years in the Army. Yeah. this is tough xD

As a family who just moved out of Sarasota and back to Boston, it’s also the Air BnB issue. People are buying homes, renting them out. They should be nailed with big taxes.

I live in Sarasota in the gulf gate area. I bought my house 20 years ago. It was worth 40k dollars. It's up to 500k now....The pricing is ridiculous here. If you're single-forget about it. I count my blessings that my house is paid off and I won't have to work 4 jobs to pay rent somewhere else.

Government floods the market with cheap dollars and rock bottom interest rates. Asset values naturally skyrocket, becoming unaffordable for a large chunk of the population. Government steps in to "fix" the problem with more regulations, etc. Rinse and repeat.

The current rate of people moving to the area is just not sustainable from a housing standpoint. Until people stop moving here at a 1000 people a day or 365,000 a year there will continue to be housing shortages and exorbitant price increases for renters and buyers. Not to mention the widespread destruction of the beautiful nature that made this such a nice place to live.

This has happened in NY, Long Island and LA, SF about 2 decades ago and is still going on. This is NOT new. It just took awhile to get here. Sarasota is not a Petrie dish at all. Late bloomer if anything.

It’s not just retirees. It’s political relocation.

I was born here and I have been forced to live in my car. I guess it's my fault because I can't get a job making good enough money. I'm 48 and this is my home and I have to find someplace else to move to. It makes me sad really. I didn't come here from someplace else but I'm being forced out.

Who would have ever thought overpriced real estate would be a problem. Priced the next-generation right out of existence. But what a great investment??? What were your real cost? family, friends and loved ones. Only seems to matter when you don't have it. Hold your children tight ,God bless you and your family

I predict Americans in 70 to 100 years from now (if there is even an America left) will laugh at the damage we did to ourselved as a society. This is ridiculous.

Thank you William Russel your the first person I have seen doing something for middle class essential workers.

Has nothing to do with anything other than greed. I love how they always say is inflation instead of calling it what it really is which is plain and simply greed

Not to mention COMPANIES are buying homes with Cash on Day Of Listing THOUSANDS of dollars OVER Asking price. In turn making CRIMINAL MONEY renting at Rediculas prices!! Making it near Impossible for a regular family with Mortgage financing to buy.

I am in Sarasota right now, taking care of my mother. This past 2 years has been a real eye opener. Prices have gone up 25 to 50 %. Blue collar workers cannot afford to work and love here, and the overwhelming over 65 population that is buying up property is driving out the very workers that are needed to keep people healthy. Nice place to visit, but too many old people, especially during the snow season.

we don't even get to enjoy the white sandy beaches or waterfront properties and such, yet the cost of everything around here is like we do

F*cking greedy developers cause all this.

Just price out all the people in the service sector ! and have fun doing everything yourself !

When I was in middle school, you could buy a house here for under $100k. Now that I am out of college and working, I am stuck living at home until prices come down or I just move to a different town. Really would be sad to leave, all my family is here.

Retired ppl moving south isn’t a freakin surprise it’s been going on for decades.

It's the same in Las Vegas, the wages don't support the cost of houses or rent.

IT IS HORRIBLE HERE NOW! ESPECIALLY W/ TRAFFIC AND PPL WHO ARENT FROM HERE ACTING LIKE THEYRE SPECIAL. Luckily i'm okay bcz I own my home which was purchased for 300k about 8 1/2 yrs ago, last year valued around 420k, now I could easily sell for 600k...and property values just continue to rise which is good for sellers ofc, but not for anyone else. I'm damn near 30 so all my friends are late 20s-late 30s and I think i'm probably 1 of 5 friends/associates of mine who actually own their homes full stop, and maybe another 20 ppl who are okay w/ their mortgages and everything right now. Everyone else is struggling, rent keeps going up, it's insane, and for the most part i'm not talking about friends making anything close to minimum wage were talking (mostly) ppl making 60-80k a year...these are educated people, and/or skilled laborers/tradesmen like welders, ppl who work hard at jobs that we were taught would grant a certain level of economic security, and they can barely afford to live in an average 1 story 2 bedroom. My friends who do work lower paying jobs in restaurants, or as handymen, pool ppl, etc. shittt most of them have to either live w/ family, rent a room in someone's home, live w/ their significant other, or 5 of them will all have to pool their $ just to get an old, somewhat suspicious looking, 3 bedroom 2 bath in an old neighborhood that not many ppl are interested in. My family's from CO and what's going on in Sota reminds me of what's happening in parts of CO, what's going on in Sota now is hands down Aspenization so it's all fun and games for the wealthy until their favorite restaurants can only stay open 3 days a week bcz there's no staff, same w/ stores, and basically all similar businesses. Letting all these big companies buy up all these homes is IMO the most shameful part.

It happened in 2008 it's going to happen again! When "The Served" have no one to SERVE THEM it's a HUGE PROBLEM!!! By this fall something is going to happen...

Not could, it is that people are pricing out the locals. Months later and this has no signs of getting any better.

Sarasota here and this is insane! I was trying to help my retired senior citizen father find a home for rent recently. He lives on a social security fixed income and has been living in Sarasota almost his whole life, but as of a couple months ago, he had to leave Sarasota. We were simply looking for a one or two bedroom home in any part of Sarasota/Bradenton, and the cheapest one bedroom homes available were about $2,000 a month!! That pricing is ridiculous and he could not afford it. Once my lease is up I am sure that my family and I will have to leave Sarasota as well.

I've lived in Sarasota and it's way over ranked. It's also humid as hell. Yes, there are some beautiful privileged areas. Otherwise it looks like any other city. You can get equally beautiful scenery without the price and the sweat. In fact if you're a nature lover you can get even better looking scenery without the fake postcard Beach look.

It's everywhere, I'm across the state in Brevard county and it's bad here too.

Try Salt Lake City. Homes averaging 600k, rents way up 2-3k for a nothing fancy small house, etc. Heavy drought this year, freeze your tail off in the winter and roast it off in the summer. Smog is really bad here too, Just comparing the two cities. Love Sarasota!

It doesn’t help when everyone and there mom from New York and Jersey/ massahole wants to move here

The cute little towns surrounding Sarasota (-already ruined) are OVER-DEVELOPING. Local government says we need new housing- residents & their TAXES to build infrastructure. NO!! Stop building, less cars- roads would be fine. But these people move down from NY / NJ where they are use to living house onto of house & become council members - local representatives RUINING the area. My family has lived here >150 years. It is SO SAD what has happened to this area. Where are the Animal & Environment ACTIVISTS?? NOT HERE!! Yet every NEW HOME BUYER would claim how important Protecting the environment is. WHAT A DEPRESSING JOKE!

I buy into multifamily syndication deals and I swear basically every one of them says their business plan is that "these apartments are currently renting for 20% below market value because the current owner has prioritized full occupancy; we're going to bring rents up to market price whenever leases expire; oh, and also, we're going to do some value add renovations after which we can raise the rents by another 20%; then we're going to get the building reappraised and do a cash-out refinance and return capital to the investors, at which point they'll have gotten their money back but will still collect rents in perpetuity".

Several factors, as mentioned for. We have plenty of material to build houses but a diminishing supply of land on which to put them. Single-Family Zoning is pervasive and it locks out the construction of cheaper multi-unit housing, from duplexes up to the efficient-to-build five story apartment. NIMBYs clamor to block cheaper housing at every turn. Large government subsidized apartments have a history of going to pot where rents are subsidized as well, especially when troublemakers can’t be evicted and drag down their neighbors property values and quality of life through trash and junk everywhere.

They’re extremely needy and awful to work for too.

I grew up in Miami in the sixties and seventies. The families in my neighborhood had dads who worked regular middle class jobs such as construction, retail, a computer programmer for Eastern Airlines, a photographer who worked for the Miami News newspaper (his wife was a legal secretary), etc. My dad was a union pipe fitter. We enjoyed safe neighborhoods, good schools and nice homes. It all started to change in the mid-seventies when there was a massive influx of Cubans who were basically willing to work for nothing. Greed took over and wages stagnated, home prices went up and eventually it was difficult to get a job unless you were bilingual. This is what Leftists want for the entire country.

Were moving to east of 75 in Sarasota in October. Paying 410k. Hoa Fees 500 a month. In Penna. we pay an avg of 100 a month for our grass to be cut, snow removal, etc. We get a pool and insurance in the Hoa. Deduct another 100 a month. Your down to 300 a month. The avg home anywhere costs 1-2% to maintain. 1% of 400k is 4k. Your Hoa Fee is a dream come true. No maintenance , no hassles with the roof is a hurricane takes it off. Same Hoa fees up north are triple. Try getting a place in NYC. 500 sq ft is about a mil these days and probably has bed bugs in the walls. Downtown is still dead and its real cold in the winter. Sarasota is expensive, yes, so go further south to Venice out in the country some and its cheaper. Ft. Myers even cheaper. Just watch out for them alligators. They grow em big down there.

When all of the workers leave due to not being able to live there what are these rich old people going to do? There will be no one to serve them. These folks will cut off their own nose to spite their face. I grew up in Sarasota and moved out years ago due to the cost of living and now Bradenton is getting to expensive for the working class. I hope you folks enjoy your long lines as you wait to eat your crappy food and other things as all of the good works have left.

This is everywhere I'm in socialist NJ & it's the same. Big corps w govt are doing this - welcome to nwo- you will own nothing Jesus said" I am the way the truth and the life" he promised to never leave or forsake us. He promised to provide all the needs of His people Come unto me- all who labor& are burdened& I will give you rest. Today is the day of salvation- He died for us& today he is risen Repent-and ask Him to save you Don't wait too long- He's returning soon- and then the Antichrist is loosed- after 3.5 yrs- God will pour out his wrath on the world

If Florida is Paradise, I know I’m going to hate Hell.

I'm a graduate of riverview high school majority of my o7 class was pushed out of Sarasota years ago..

Years ago I took annual trips to Florida to visit in-laws who had just retired. They lived in a retirement community (55+) and had a wonderful time. Parties, poolside games, social events, and so forth. For a few years it was paradise. Flash forward 10 - 15 years, and that fun loving community was a memory. The paradise turned into something very different. Wheelchairs, oxygen masks and tanks, walkers, and a (literally) dying population. Unfortunately, rents remained high, health costs were high, and the paradise turned into a lonely ghost town. Florida looks great in your 60's, and it may be a retirement paradise - for a while. Be careful what you wish for. It may indeed come true, but nothing lasts forever except death, taxes, and medical bills. If you're happy where you are, and your mortgage is almost paid off, do yourself a favor. Visit Florida, but don't move there. The devil is in the details.

There are no high pay jobs in Sarasota. Wages are so low; incredible low. Know about a person that has a Masters degree in engineering and the job offers are extremely low.

The real issue is that our country imports most of materials. The only way to fix the inflation issue is building a country which can sustain itself

We shopped around some new communities in the area this past summer, and townhouses that werent even built yet, were going in the upper 300s!!

The word “affordable” will be erased from the minds and dictionaries very soon

So affordable housing for cops nurses etc are important but those that clean your homes wait on you and work at Walmart and target can live where?!! Service industry workers keep Sarasota tourism industry thriving. I suppose you assume they can live in some Tampa Bay ghetto and drive there.

This is what happens when greed is more important than human life. Live on the f'in street if you cant afford d a $2K one bedroom on your blue collar job. Rent control and limiting big investment firms from buying up the stock of affordable home would be a start BUT I really dont think our elected officials have a genuine concern when it comes to human suffering. Welcome to capitalism gone awry.....

My girlfriend and I can no longer afford to live in Florida. Our rent is going up again at the end of the year and we already pay $1450/month for a 1-bedroom apartment that's 60+ years old and is falling apart. North Carolina here we come!

If there there is a severe labor shortage and far fewer people working for no low income the Baby Boomers are going to get screwed hard trying to find and maintain in home care givers to age in place in Florida and else where. That’s a major problem most BabyBoomers are going to find themselves severely caught off guard when start needing assistance. I’m predicting the nationwide caregiver shortage to really disrupt the housing market.

I’m from a midwestern city. It’s so hard to make affordable housing with high construction and labor costs.

Yes .. It is the working class keeping it going .. Lets not forget that ! Its ridiculous !

Sarasota was always more expensive in the house market. We looked into that more than 35 years ago. Couldn’t afford then and now too old to worry about a mortgage now.

If a house has been in your family for years, and you can not afford it, you are doing something wrong.

GREED

The problem is exacerbated by the acceleration in number of multiple property owners as well as the number of their holdings.

There goes my dream of living in Sarasota….. 😢 I love Sarasota 🤩

This isn’t accurate… a STUDIO apartment is $2000/month at the moment. DON’T move here!

My parents moved to Miami in 74. Been here ever since and it gets harder every year to survive here. I was lucky to have been hired by a company that requires I travel making almost mid 6 figures. It's not easy though for I am separated from my wife and it's taking a toll on our marriage. We bought a lot in Port Charlotte and we are having our sea wall built. Should be done by summer. We will start building our home in "23. God willing.

0:25 "A warning for the rest of the country", what? They have to be leaving somewhere to go to Sarasota. That means price has to drop in one location for it to rise in the other. Every buyer has to have a seller. Watch out "rest of the country", the 57 year-old's are coming, and they are going to bid up your housing! This hysteria over prices in Florida is going a bit far. 1:10 "Homes for people at the minimum wage", what? When ever, has a min wage earner bought a home in the United States? Never. When I was making it at $3 an hour, I could not even afford lunch, much less rent an apartment. More hysteria here.

I’ll tell you a good place to start. Impact fees, unnecessary regulations, property taxes. Of course I’m just recommending these for projects that qualify for work force housing. It will be impossible to control the cost of materials and labor but the things that can be modified should be.

I’m trying to move out 😢 one bedroom apartment is over 1,200 so it’s harder for people my age to find a good apartment. Ima just work more and save more

If you are making "minimum wage", you aren't going to be able to buy a house anywhere. Since when does minimum wage cover a mortgage? These people are experts?

US is a big country! Better places than overcrowded and problem plagued states! Look elsewhere for cheaper homes and far better healthcare!

My parents moved to Miami in "74. Been here ever since. I was lucky to find a job by a company that requires I travel.

There's no need to fret about the housing prices, it's ALL about to implode. Good luck

Stop calling Florida paradise its a huge hell hole

Not to be funny … but there was a 2 year break on rent due to covid .. tons of people abused it. These Landlords have had enough.

Example: My mother - a widow with 3 young kids who worked full time making $2/hr - sold our 2 family Boston house in 1975 for $36k. A couple of years ago, a very similar house on the same cramped street went up for sale for $1.3m. Not a price any of her kids or any of our friends or family can afford.

If you're smart you would NOT want to live here... we have horrific red tide events the last one lasted 18 months and just like the long haulers with Covid symptoms we have long haulers with red tide symptoms and now they're linking red tide exposure to cognitive disorders. I still have a cough I cannot shake.

I was wondering if anyone cared about us. 7th generation sarasota/Myakka girl with no home of my own. Can't afford rent now. My 17y daughter my husband my corgi and I are squished into my mother's small living room where we all sleep. We all work, except the corgi. Still cannot afford a rental unless we go on welfare. Does that make sense?

Michael Paluska is so handsome. It would be good to support affordable housing for working class people that offer services to the local community. As they said, teachers, nurses, firefighters that keep the community alive.

Um, Sunshine and palm 🌴 are luxury living ,it's always cheap in Ohio, st Louis!

"I think it would be more appropriate to say what's the blame, rather than who's to blame, and it's the market that is to blame." ←is that all you got? How about asking the tough questions like..Is there any relation between home prices and quantitative easing? The Fed Reserve is who to blame. How about talking about where the rubber meets the road?

So glad I own my grandparents property and it's paid off

When the residents start having to haul their own garbage and mow their own lawns, they will move out and then the recession will hit!

We can’t keep up with the demand and stay alive.

Please stop coming to Florida no matter your reason for wanting to come

Look at Hawaii, in a very short period of time the tourist will have no one there to provide services. Because those providing service can no longer afford to live there let alone housing.

Supply and demand. Paradise isn’t cheap or we’d all be there

How about raising wages and stabilizing property taxes

A 2000 per month apartment maybe high in Florida, but it is the norm in NJ, NY, Hawaii, Calif, and in some parts of PA & it has always been. Ms. L. Churchill

A great place to spend some money!!! 2022

This is what happens when crony capitalism is fueled by cheap money by the fed for years. Institutional investors have money to burn 🔥 and the public can’t earn against it.

FYI.. Just as many are moving out!

You find a house for 2,000 around here it does not exist. Rent is double that. Not sure where those numbers are coming from because they are highly inaccurate.

The inability to afford to live the city where you grew up is *NOT* A NEW PHENOMENON - I'm a 3rd generation Bostonian who grew up in a working class part of the city in the 70s. NO ONE in my working-to-middle class family have been able to afford a house there OUR ENTIRE ADULT LIVES. ALL of us are economic refugees who fled to cheaper states - even though we didn't want to leave.

Kings have been put in place. Satan is on the way

The last time I checked, the number of ppl moving to FL was nearly the same as the number moving out of FL. The housing market crashed before, and most likely it’ll crash again. That’s when u buy. In the meantime, mobile home parks are being bought out by Berkshire Hathaway, which drove up lot rents to $800 or more a month, making them no longer affordable. Greed is what it’s about.

When you have rapidly rising prices of properties due to inflation as people are moving cash to assets, and ultra low interest rates this is what you get.

This is what happens when one state, Florida, is so much better governed than the rest of the country. People call Florida the "Free State." I almost moved there from DC; instead, returned to my hometown in rural Illinois. Very happy to be back to my roots, but Sarasota seemed like Paradise, as described above.

Didn't the real estate companies take a bail out?

It’s not that bad. A friend of mine retired and moved down last year. I just played around with a home affordability calculator and you don’t even have to make anywhere close to 6 figures to afford a $410,000 house. You can afford that on an income as small as $70,995, which is below the typical income.

Housing prices in Sarasota are still cheap, compared to where people are moving from: California, the Northeast especially tax-burdened New Jersey and the Chicago area. Sarasota homes can still be purchased for $200-$300 a square ft. In California is closer to $1000 a square ft, a 9% sales tax, an 11% State Income Tax and an ANNUAL 2% auto registration fee. In NJ, the property tax rates averages 4.25%, like having a second mortgage that never gets paid off PLUS State Income Tax and Sales tax of 7% each. Stop complaining about Sarasota - the place is a bargain.

It,s freaking RIDICULOUS to live in Sarasota. The only ones who could afford it are the RICH. They kill me saying AFFORABLE. MY A..