Florida collapse just got worse. Builders now ABANDONING projects.

Рет қаралды 323,318

11 күн бұрын

The Florida Housing Market downturn continues to get worse in 2024, with home builders now being forced to abandon projects before completion.
REVENTURE APP: www.reventure.app
That's because the numbers of homes for sale and inventory across Florida's housing market has spiked over the last two years. In cities like Orlando, Davenport, and Lakeland, supply of homes for sale is flooding the market fast.
Don't be surprised if home prices in Florida drop significantly in 2024 and 2025. Especially in areas with a big concentration of Airbnb investors. These Airbnb investors are now selling due to a downturn in the market, which is putting more inventory for sale.
Realtors across Florida should also take note. The market is shifting fast, and it's important that you provide your clients with the most up to date data and market analysis. Head to Reventure App to find the data for your city and ZIP code.
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's KZfaq channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZfaq, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.
Image(s) and/or Footage used under license from Shutterstock.com. www.shutterstock.com/
Additional stock footage provided by Envato Elements. elements.envato.com/

Пікірлер: 2 100

@ReventureConsulting 9 күн бұрын

The surge in inventory across Florida right now is breathtaking. In this ZIP code that I'm in the number of homes for sale has spiked by 500%. And the market is turning down fast. Access the data for your city and ZIP on Reventure App right now: www.reventure.app

@johnchristopher316 9 күн бұрын

Nick if you’re still in the area we should talk… The bubble is large in Lakeland … and on so many different fronts. Residential, multi family, industrial, office space etc… it’s all a bubble. I relocated from Seattle 2 years ago and could give you tons of on the ground evidence of what we know is about to happen

@migueralliart 9 күн бұрын

There is something you're overlooking in this analysis. I am not sure if you read the comments but it is very easy to have blinders on with data and overlook the regional issues. I moved to Port St Lucie in 2015 when my house was approx 165k. This is one of the zones you are forecasting to crash in value 20-30%. When I moved here it was a small town with very little new construction but a lot of scattered 1/4 acre lots. The problem with just following the data is that the majority of the people that moved during 2020-2023 were from NY and NJ. Now in 2024 the people moving here are mostly fro Miami, Boynton, Fort Lauderdale and West Palm Beach. The reason the prices in Port St Lucie aren't crashing is because the affordability down south is literally making people move here and commute. Because even at 7% rates their monthly payment here is reachable with their salary. South Florida has no more space to build west and the little space they have is developed with 700k+homes due to cost of land and building permits. All this is not captured by your data analysis.

@ToniD6436 9 күн бұрын

Come to Charlotte NC and do a video on our dumb market.

@eddylauterback1312 9 күн бұрын

Love the Floridians writing saying your numbers are flawed.

@carlenegayle8163 9 күн бұрын

@@migueralliart It's ridiculous that the average home in Tradition is $800K

@WilliamsTyler5 Күн бұрын

There is an equal market chance associated with every crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.

@BINDERANDREAULRIKE Күн бұрын

I think investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

@WilliamsDavid23 Күн бұрын

You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

@CharleyHull-dn6nh Күн бұрын

Please let me know who the consultant is who helped you with your investment, and if it's okay with you, please let me know how to contact you.

@CharleyHull-dn6nh Күн бұрын

Please let me know who the consultant is who helped you with your investment, and if it's okay with you, please let me know how to contact you.

@EstefaniaWalter66 Күн бұрын

If you do not mind, could you please tell me the name of the consultant that helped you with your investment and let me know how to contact them?

@kortyEdna825 5 күн бұрын

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@brucemichelle5689. 5 күн бұрын

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

@carssimplified2195 5 күн бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@Justinmeyer1000 5 күн бұрын

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

@carssimplified2195 5 күн бұрын

Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

@Justinmeyer1000 5 күн бұрын

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

@GillerHeston 8 күн бұрын

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

@eloign7147 8 күн бұрын

It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.

@rogerwheelers4322 8 күн бұрын

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

@joshbarney114 8 күн бұрын

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

@FabioOdelega876 8 күн бұрын

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

@joshbarney114 8 күн бұрын

I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@user-xy9ls6py2c 9 күн бұрын

No trees… nothing worse than being able to look through your window and knowing what your neighbors are cooking for dinner in their kitchen…. Houses touching houses is not a vibe

@naturelover2292 9 күн бұрын

Exactly! No trees no character just homes stacked up against one another. I couldn’t do it.

@DIVISIONINCISION 8 күн бұрын

Fencing and tinted windows. After I closed on my new build in 2019, first thing I did was have the windows tinted which helped with privacy and the heat.

@joaquincortada1483 8 күн бұрын

these areas were full of sabal palms and slash pines. Landscape codes for these areas are also a joke for SFR.

@kolezzz 8 күн бұрын

I agree, the street looks very sad.

@fredrickhaemker8434 8 күн бұрын

Where are the alligator ponds?

@SCARFACE69247 9 күн бұрын

Home prices in Florida have tripled since 2019. Nobody wants to buy a $200,000 house that's now $600,000, and will probably be a $300,000 house in 2 years.

@AssetAddict 9 күн бұрын

Lol. Ok.

@clyde19788 9 күн бұрын

just keep waiting 🤣

@germaninvasion121 9 күн бұрын

@@AssetAddictmust be a builder heavily upside down lol

@catliath5384 9 күн бұрын

💯

@shanerogers9386 9 күн бұрын

In Delray Beach they are 100-500 percent higher depending on how many times the home has been flipped

@luisbelisario7861 9 күн бұрын

What a crime how fast the once beautiful Florida is being bulldozed. Once called the Wilderness State 😢

@rollthers3157 8 күн бұрын

Yes. It is tragic.

@joaquincortada1483 8 күн бұрын

all for these cookie cutter crappy homes

@shoshanna8475 8 күн бұрын

Crazy part is that I always wonder why people ignore all those videos of houses sinking. Florida is a floating sandbar... pretty, but still a swampy sandbar.

@thomasrudder9639 8 күн бұрын

Oh really? When was that?

@shelbynamels7948 8 күн бұрын

was that before is was the Sunshine State?? must have been before the Flaglers started developing.

@leedanielson7452 9 күн бұрын

Housing all over Florida is way way overpriced!!!

@peterzotti6430 9 күн бұрын

You should come to California... Houses in the worst ghettos in Los Angeles are almost a million dollars... For a literal trap house...

@leedanielson7452 9 күн бұрын

@@peterzotti6430 Yeah man CA has really crazy prices and has for decades.....

@OrlandoSuave 9 күн бұрын

Bigly

@AssetAddict 9 күн бұрын

Not true.

@leedanielson7452 9 күн бұрын

@@AssetAddict Yes true...

@Pilostudio 8 күн бұрын

I said this phrase in 2006-2007 and been repeating it for the last 2 years "When the middle class cannot afford the middle home the system is undoubtedly in a bubble" . I remember getting the same responses "Miami is different because the foreign money, is different because weather, is different, bla bla bla..." and what ended up happening was that Miami was one of the markets with the largest declines from 2008 to 2011

@Michelapasta 8 күн бұрын

That’s what I hear now and I really don’t know what to say or think.

@007stopjockin 9 күн бұрын

Tons of people leaving Florida now. WAY too expensive now. The property home owner insurance, the taxes, the utilities, car insurance is INSANE!!! Hope all Airbnb Jag Offs/Investors get what they deserve! Homes should be for families to buy in order to provide their family a place to live, and NOT for investors to fleece the public!!! 007

@specialk2514 9 күн бұрын

Orlando area also has a huge inventory spike due to high crime and extreme traffic in addition to the reasons mentioned above.

@Acc0rd79 9 күн бұрын

I'm paying 892 a month now for 4 cars with Progressive here. Insane in Kissimmee, nothing on my record. It was 577 last year at this time.

@007stopjockin 9 күн бұрын

@@specialk2514 that's CRAZY!!! 007

@bobsacamano7653 9 күн бұрын

I wouldn't live there because of the politics let alone it is too hot, most of it will be underwater and hurricanes. no thank you

@WANNA_BE_FRIENDS 9 күн бұрын

Where, cause breviary is still growing

@johnbowhunter7676 9 күн бұрын

High prices, high interest rates, and high insurance rates….. it was bound to crash!

@AdrianMcDaid 6 күн бұрын

Needed readjusted

@rickreese5794 8 сағат бұрын

💯🤡🌎🤮

@Sonofawildanimal4241 8 күн бұрын

Dude, they didn't abandon that house they're just not working on it while you were filming.

@JohnVelcofsky 6 күн бұрын

Exactly. He was probably there on a Sunday.

@HulaShack1 4 күн бұрын

He lies so he can sell his software. But people flock to his channel so he makes tens of thousands off the videos as well.

@hoytballard5504 4 күн бұрын

Yeah no one pays for dumpster or porta potty services at abandoned job sites

@1922SJK 3 күн бұрын

People are working on homes in the same video he claims they have been abandoned. I don't know why he lies and over exaggerates, it is not necessary.

@IAmmlskOG 3 күн бұрын

This revature dude sucks, I dont even know why I click his videos.

@Ron239 9 күн бұрын

I'm in North Jersey and there's a home listed for $499,000 that's under contract that isn't worth a dime over $300,000, if it's even worth that. People, don't be suckered.

@user-dw7yq8ne2s 9 күн бұрын

Location, Price & Condition. Basic comparable in any neighborhood 👍

@davidjaylaw1920 9 күн бұрын

$ucker born everyday. Some people are just idiots to Overpay. stupid is as stupid does

@Mark-bh8mb 9 күн бұрын

North Jersey very different from Florida (insurance, HOA's, Airbnbs, seasonal properties). North Jersey does not have a population decline either.

@richardjohnson8114 9 күн бұрын

@Ron239 Real estate is worth what someone is willing to pay, not dime more, not a dime less.

@divinelightreadingsbykris777 9 күн бұрын

I'm in north Jersey too the houses are starting to sit on the market more than 30 days. Those ugly duplexes going for over 2 million are starting to sit. The NYers are not moving into NJ anymore. During covid they flocked into Jersey and made the prices go insane. NYers and Koreans over paying by 100k on a house. The NYers will go back as soon as the prices in NY go down. It happened in PA after 911.

@marka.8535 9 күн бұрын

In Tampa , where I live , people are getting quoted $7,000 per year for homeowners insurance on 500,000 dollar homes that aren’t near any water and aren’t in a flood zone , others are being quoted $17,000 and up annually. People in neighboring states are paying $1,000. annually for homeowners insurance.

@lotsofthisandthat9791 9 күн бұрын

Joe Biden need make rule no increase insurance more than inflation thanks you

@benjaminolsen2381 9 күн бұрын

I'm so glad my home is paid off. Homeowners insurance is such a scam. Way better to just bank the cash for a rainy day. The rainy day could be a car crash, a hurricane or a medical emergency. Cash is king.

@oviconstantin3782 8 күн бұрын

I live in NC... not neighboring FL, but close enough... and I wish I only paid $1000. Sadly, homeowners insurance is way up pretty much everywhere. Not as much as in FL, but still...

@roshinobi 8 күн бұрын

@@oviconstantin3782To be fair though, NC seems to be hit by every east coast hurricane. I'm in Jacksonville, and we just expect that most hurricanes headed toward us will miss and hit NC instead, cause of the way north Florida curves westward, and NC pops back eastward.

@joaquincortada1483 8 күн бұрын

I have a few properties I paid off and now self insure. I was paying $5-6k per yr for a Duplex I could completely rebuild for $150k.

@jenya7092 9 күн бұрын

Yeah, these prices aren’t sustainable. How can an area with 50K hh income afford houses for 400K? I don’t understand

@AssetAddict 9 күн бұрын

You need a finance course. Seriously, if you don't understand it, and you want to..... put in the work and study.

@sarahlysobey2917 9 күн бұрын

The builders are targeting newcomers from Cali and NY not Floridians. The same thing happened in Texas.

@mysticaltyger2009 9 күн бұрын

They said at the World Economic Forum in 2016 "You will own nothing and be happy". Of course, what they meant is we'll own nothing and THEY will be happy. This is happening all over the world. The same policies are being enacted in many countries with the same results.

@Koushi82 8 күн бұрын

Yep trolls pretending and insulting others when we ask them to justify their prices. Oops. Shows how nub u are. Simple fact 3x median house hold income is the max local populations should ever buy no more. Unless it a dumbass asking to go bankrupt

@Koushi82 8 күн бұрын

Yeah? They better provide the jobs that pay equal or more bitches else go bankrupt

@FibonacciK 7 күн бұрын

This guy has been calling a real estate crash for 3 years straight!

@tainis1996 4 күн бұрын

You can stop watching him!

@FibonacciK 4 күн бұрын

@@tainis1996 there are tons of channels just like his that sell FUD. I will give him credit for not deleting his videos even after they age like milk.

@neilcharles2520 3 күн бұрын

He probably never owned a home and never will..loser..

@tattoodestroyer1663 9 күн бұрын

Keep building. Don’t stop now. 🤣😂

@3ptmre 9 күн бұрын

😂😂

@Akwardred 9 күн бұрын

Build where it is not a shit hole like Florida.

@BenDorv 9 күн бұрын

😂😂

@flnative7553 9 күн бұрын

@@Akwardred born and raised. Im glad you will stay out! we got enough clowns down here dont need another!

@SigFigNewton 9 күн бұрын

@@flnative7553that explains the higher unemployment rate

@enthused7591 9 күн бұрын

I can't see how the foreclosure rate doesn't at least double the rate of 2008-2009. When unemployment tripled in 2009, it was people making $48,000 who lost their job, and then lost the home they agreed to pay $150,000 for between 2005-2007. Today, it's people making $65,000 who signed up for homes priced at $325,000. In Florida, anything under $300k after 2020 is a fixer upper. People are so much more overleveraged than 2007 peak bubble it's not even comparable. A 1990 3-bedroom home in Florida at the peak of the bubble in 2007 was $150,000 and had crashed down to $65,000 by 2010. It's that SAME EXACT 1990 3-bedroom home that comps for $300,000 today. On top of that, everyone's homeowner's insurance and all other costs of living went up 45-90% simultaneously this time, which did NOT happen last time in 2008. You'd need to be making 55-60% more today just to afford the same lifestyle you did in 2019.

@nanny8675309 9 күн бұрын

Thank you for bringing this up! I keep preaching this especially about how wage has not increased enough to justify these prices since the mid 2000s. When are people going to have common sense to finances and realize I’m making not that much more from 2006 as I do today🤔 But then they’ll pay more than double for a home🤔🤔😣 Then like you said, inflation to top all that off🙄

@HEllis-qu5nn 9 күн бұрын

Corporate Greed. You have to stop corporations from buying houses. They control the market. Vote for people who want regulations and increase in corporate taxes and they have to get out of the housing market. That is how you fix it.

@Bigelite094 9 күн бұрын

Luckily my income doubled, but it feels exactly the same.

@mikeyriley8959 9 күн бұрын

You’re correct, it will be much worse. Not only is there more public and private debt out there, the U.S. has just lost the petrol dollar agreement with Saudi. That’s huge! The world is turning its back to the bully in the playground.

@nanny8675309 9 күн бұрын

@@Bigelite094 what do you do for a living?

@pirate9154 9 күн бұрын

I work for a very large REIT in FL. The slowdown over the past few months is SHOCKING. I flew into SRQ last month and the amount of abandoned new builds was SHOCKING too.....roads carved out, cul de sacs, vacant lots, half built homes and abandoned building materials was clearly visible...in large numbers, from the air. It's going to get A LOT worse.

@benjaminolsen2381 9 күн бұрын

Which is funny because there's a housing crisis and people can't afford rent. But they'd rather abandon projects rather than lower prices or build affordable housing.

@adoss7273 9 күн бұрын

I have worked in CRE for 20 years. Back in 2009 or 2010, I got a bank REO for an entire abandoned master planned hood down in Punta Gorda, FL. The developer literally drove off one day and never came back. Same deal: roads carved out, street signs in place, block houses with the walls and roof only (no windows or doors). Everything was waist high and overgrown. Some group out of NY bought it, probably made a killing in the end. But when this was going on, we saw a lot of erosion in prices by then, we outright knew things were bad...something we are not yet seeing right now. I can tell you some really insane stories - I nearly exclusively did commercial REO work from 2009-2012...

@TheeLynnChase 8 күн бұрын

and how much of that junk is tucked into the REITS?

@jamesm9314 8 күн бұрын

@@TheeLynnChaseyes… wondering the same!

@ThePublicPunisher 8 күн бұрын

@@benjaminolsen2381you can't build with high cost on materials, wages and interest rates, the risk is too high for developers now.

@ygts 8 күн бұрын

You walking through the streets makes me so damn happy I live in the Netherlands. There's people on the streets, greenery, variation, curves in the roads, etcetcetc

@nickmaximovich8685 2 күн бұрын

Is the Netherlands accepting refugees from the U.S.?

@susanjannarone135 9 күн бұрын

Inventory isn’t the entire problem. It’s the high interest rate combined with the high cost of a house.

@nyneegardner6235 9 күн бұрын

You're right. And it's even worse in Florida, too, because of the increases in insurance, local inflation and poor governance. Insurance companies are pulling out, people who don't even live in a flood zone are being forced to pay higher insurance premiums, and there are also the rules about having a roof replaced or not getting coverage. I don't see how anyone can afford to live there now, unless you are wealthy.

@1245JL 9 күн бұрын

He knows that

@GambitC8 8 күн бұрын

I dont know where this guy is but I would be curious if he has proof they stopped building or if he was just there on a sunday or something. Here where I am in Florida people are buying everything and the homes are popping up like crazy. Buildings are building slower than demand.

@yahs_way 8 күн бұрын

Facts

@wangchung8134 8 күн бұрын

Nailed It, what you wrote could have been the video in 5 seconds.

@Vin-pd7mh 9 күн бұрын

Underwater and Negative cash flow for years to come 😭😭

@Dorian_Gray83 9 күн бұрын

But, but, but you can refinance later…😂🤦🏻🤣

@primecash144 9 күн бұрын

@Dorian_Gray83 😂😂😂

@DrRobertEdward 2 күн бұрын

I am so happy that i made a productive decision about my finances that changed my life forever. I am a single Dad and i live in Florida, i bought my first house in September and i hope to retire next year at 40 if all goes well. Thanks to Mrs Judith M Layton for helping me achieve this.

@brandBull-wf5go 2 күн бұрын

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

@MasonAnderson-tj6ye 2 күн бұрын

The very first time we tried, we invested $1000 and after a week, we received $3900. That really helped us a lot to pay up our bills

@AnDungMason 2 күн бұрын

You trade with Judith M Layton too? Wow that woman has been a blessing to me and my family

@RiteJosh-ng7et 2 күн бұрын

Please let me know how to contact her as I'm new to this.

@AnthonyScott-mz1cp 2 күн бұрын

I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.

@joelastre4864 8 күн бұрын

I lived in different parts of Florida for almost 30 years. I always had a decent job, and stayed in relatively nice areas. Never too far from the water, in low crime neighborhoods. And even with all that, I can tell you that living in Florida is GROSSLY OVERRATED. It might be a great place for snowbirds to get away from the cold. But it's not the place you want to live full time. Florida is NOT what they show you on instagram or in the movies. And It's not nearly as 'posh' or 'cool' as realtors (or other interested parties) want you to believe. Trust me.

@FreedomLovin 8 күн бұрын

The Keys are cool, but way too expensive. What was your favorite or least disliked part of FL?

@lnicole2504 7 күн бұрын

I agree as I have lived in FL for 30 years. I lived in California and I lived in Arizona, and there is literally nowhere to run anymore. Every place is being destroyed. What used to be quaint small towns outside of the cites are now dirty little cities themselves. This whole world is going to hell in a handbasket!

@joelastre4864 7 күн бұрын

@@FreedomLovin And the cost of living in the Keys is (unfortunately) only getting worse. To the point where you can FEEL the stress of regular people in the streets. Just in their overall attitude in traffic and in general public spaces. IMO, the best mix of amenities and crowd/vibe was in the nicer parts of palm beach county.

@joelastre4864 7 күн бұрын

@@lnicole2504 I hear you. We picked up and left to Montana a few years ago. And although it's not perfect, I've never been more at peace. We no longer have access to the beach and we now pay state income tax. But in exchange, we now have mountains, lakes, rivers and actual seasons. And more importantly, much more sane people around us.

@Gotcha-xy7fv 7 күн бұрын

@@joelastre4864 That cpuld just be the nasty New Yorkers moving in

@nickimillennium 8 күн бұрын

I moved out of Florida years ago in 2017. I noticed the stagnant wages and increasing cost-of-living and got the heck out of the state. Best decision I ever made

@caroletta451 7 күн бұрын

Same here in 2018...

@maaike3259 7 күн бұрын

I want to leave here too.. stuck here till 2025. Can’t wait to go

@ericdelevinquiere9902 9 күн бұрын

These houses look sad, regardless of the price. Honestly, low 200 is about what they are worth to me if that much. So that’s still 30% overvalued, especially considering that area is really in the middle of nowhere!

@reillycassel3574 9 күн бұрын

Me and my friends are looking to move out of Florida. It’s too expensive for young blue collar workers

@hughjass1835 8 күн бұрын

I've lived here 48 years and I can't take it anymore. I'm currently looking for property in the Midwest. Florida used to be gorgeous, now it's just rows of ugly buildings occupied by hordes of people that I can't stand! I miss the old Florida but I won't miss whatever this is now

@Leg239 7 күн бұрын

Grew up here, moved back about 8 years ago. I’m out when I get the first chance. Way too much people, traffic, crime.

@newkirk7591 9 күн бұрын

too many people got caught up in fomo, and now theyre selling and no one wants to buy.

@naturelover2292 8 күн бұрын

Yep! They see that falling knife and they are trying to miss it.

@markmansel9899 8 күн бұрын

Title says: Builders now ABANDONING projects. Skip to 2:43, construction workers actively working on the "abandoned" projects. But hey, anything for KZfaq clicks

@justaviewer111 9 күн бұрын

You make this downturn sound like a bad thing! It's very much needed. Had they let the central bank do it's thing when it tried back in mid 2018, we wouldn't be in this mess this bad.

@justaviewer111 8 күн бұрын

@@geocam2 There's always pain when things get back to normal. Some benefited way more so it makes sense.

@Sonofawildanimal4241 8 күн бұрын

Downturn?

@bearbull88 3 күн бұрын

I agree, rates went too low for too long. They actually should have stabilized and gone up when the economy turned around under Obama. I thought Trump would let rates stabilize when he said the stock market was artificially high because of low rates but then he got in office and made it worse. Tax cuts for the wealthy, which is the opposite of what he said he was going to do and then he wanted the rates lower and even threatened the fed if they tried to raise them because he wanted to take credit for the stock market rising. It's a mess made worse for the sake of politics.

@DalanyBoulommavong 8 күн бұрын

Thanks for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of a few months. Sad to say but a lot of us have poor money management skills. My 2 cents -get an advisor to keep you accountable and aid you make better decisions, Linda Wilburn has been helping me a lot, all through my journey. I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get >burned.

@DalanyBoulommavong 8 күн бұрын

Linda Wilburn program is widely available online.

@Jorgetrader 9 күн бұрын

Desirable areas of Miami have dropped 5-7 percent. I am hoping a 30-40 percent drop in total.

@SA-hz1rs 9 күн бұрын

everyone is leaving

@SA-hz1rs 9 күн бұрын

everyone is leaving

@macallanvintage 8 күн бұрын

@@SA-hz1rs Why are people leaving Florida?

@The_regulators 8 күн бұрын

@@macallanvintage The answer is they are not leaving Florida. State is still growing, just not as fast.

@SA-hz1rs 8 күн бұрын

@@The_regulators 500,000 left in 2022

@flyingdutchman7585 9 күн бұрын

An additional thing that will prevent buying in Florida is the insurance. In Florida, the average homeowners insurance premium for a policy with $250K in dwelling coverage, $125K in personal property coverage and $200K liability coverage is $8,770, which is 262% higher than the national average of $2,423..

@twoc400s5 8 күн бұрын

Trust me, if the job site still has a port-o-john it's not abandoned. Those companies snatch those things up THE SAME DAY you stop paying the rental.

@atombomb31458 5 күн бұрын

good point

@madabuu 9 күн бұрын

I appreciate your on the ground view from around the country to get an honest picture of the state of the real estate market.

@KEN-du2iz 7 күн бұрын

Just keep building. There is still 500 SQ foot of grass, we can't have that! Need more WAWAs, shopping malls, storage lots, 300k plus spec homes 5 ft apart, crowded roads, schools, stores. Need to choke out every last bit we can get.

@atombomb31458 5 күн бұрын

hehe..thats true

@llwest 4 күн бұрын

Car wash and dollar store too

@booboolips6053 9 күн бұрын

I see many homes around me here in Jacksonville sitting on the market for months because people are still asking for pandemic money.

@FraaaaaankRizzo 9 күн бұрын

Or….folks are realizing they are tapped out.

@gspeed930 9 күн бұрын

The longer they stay high the quicker they will drop when that knife falls. Don't think people will buy when prices are dropping. They will wait till the bottom and that means they will make sure the bottom is in, they only buy when the prices are rising. No one wants to be early in calliing the bottom. Look for 1/2 below cost of replacement for near bottom. That means banks selling to avoid unsolvency. You heard it here first.

@krabgrass 9 күн бұрын

*Plandemic, fixed it for you.

@SigFigNewton 9 күн бұрын

@@gspeed930what if that’s why prices are down right now already People don’t want to buy right before buying becomes cheaper. So demand this season was reduced by expectations of interest rate cuts

@SigFigNewton 9 күн бұрын

@@gspeed930I mean my argument sounds decent but it’s mostly wrong, right? Isn’t the price drop mostly due to supply? Well yes, self, but your point was that the cause of higher supplier may be partly reduced demand for interest rate prediction reasons Hmm yeah I wonder

@swx540 9 күн бұрын

I’m on Delray Beach. There was no inventory couple years ago but now the listing are started to appear.

@shanerogers9386 9 күн бұрын

Also in Delray. This is the flipper and investor capital of the USA. Everything is a a flip sold to an investors who is just no realizing that paying triple for the home was a really bad idea. Many homes have been sold 3-4 times since 2021.

@thomasrudder9639 8 күн бұрын

Delray sucks now anyway.

@clemdane 8 күн бұрын

I love Delray, but can't afford it

@shanerogers9386 8 күн бұрын

There are plenty of homes for sale at $2MM. They were just $500k in 2021.

@LufkinAmaro 8 күн бұрын

Great video!! I can recall when I was homeless and faced many things in life until $50,000 biweekly began rolling in and my life went from a homeless nobody to a different person with good things to offer!!!!

@MobiaHr 8 күн бұрын

That's lovely 🌹 if i may ask, how did you come up with so much biweekly?

@LufkinAmaro 8 күн бұрын

It's Caroline Maria Bravo doing, she changed my life. A BROKER- like her is what you need

@LufkinAmaro 8 күн бұрын

A lot of folks are still hoping for stimulus and salary to survive which won't do much!!! without no passive investments. I guess a few know about integrating into the micro economy to help substitute FIAT or usdt for a more tangible exchange Experience, it more like capitalization with about 43.307% profits/ ROI weekly though.. ps.. Caroline Maria Bravo, got me covered thanks.

@sumbav 8 күн бұрын

I would really like to know how this actually works.

@LufkinAmaro 8 күн бұрын

I've stated it all, the most important thing is to have enough starting capital and to have a professional expert broker to help you with your investment so that you don't make any losses.

@cullenpeterson 9 күн бұрын

Some nice relief for locals, but the market is wildly bifurcated. I grew up in South Tampa but live in Chicago now (not a political move or anything, I just found a great job here) and have been checking in from time to time on the market back home. Westchase (a suburb of Tampa where I lived for a while) has seen a bit more inventory growth; houses are definitely sitting longer. South Tampa, however - Hyde Park, Westshore, Palma Ceia, Davis/Harbour Island etc - all still INCREDIBLY tight. So, at least anecdotally, areas that are further from city centers/built later are definitely starting to feel some pain but the cities themselves are still pretty tight markets.

@JosephMcEntee99 9 күн бұрын

It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.

@luigijohson6732 9 күн бұрын

While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.

@susanlisa3782 9 күн бұрын

But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?

@leonardives1991 9 күн бұрын

Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.

@patricia_nura3378 9 күн бұрын

How can people address concerns about their property values?❤❤❤

@leonardives1991 9 күн бұрын

Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.

@mariecameau097 9 күн бұрын

Florida homes over values not 30% but 100%\200%some places

@malhunt7 9 күн бұрын

It's insane

@nitroneonicman 9 күн бұрын

Just remember that a 50% reduction in price will fully correct a 100% price increase.

@mainegreengrower4209 8 күн бұрын

That's everywhere

@1138prometheus 9 күн бұрын

Oh no! The local buyers are the ones who are having their cars repossessed their credit cards maxed out their job security weekend and their students loans defaulting so trust me they won't be trying to buy anything for quite a while

@leedanielson7452 9 күн бұрын

Fools been overpaying since 2020 and they're still doing it......

@b4804514 9 күн бұрын

The market is what people will pay. Has always been and will always be. Prices are based on who will pay what.

@nitroneonicman 9 күн бұрын

@@b4804514 and home sales numbers are at record lows so by your own reasoning homes are overpriced since people are not buying.

@adoss7273 9 күн бұрын

@@b4804514 Until the lenders put a stop to it and don't think they won't.

@onlycreamofthecrop 8 күн бұрын

Unless, perhaps inflation is worse than what we’ve been told

@nitroneonicman 8 күн бұрын

@@b4804514 people aren't paying though, so by your own reasoning the market is overpriced.

@TheMrSquier 8 күн бұрын

You're wrong about high inventory being a problem, it's high inventory of ludicrous houses that nobody wants or can buy. What the market is desperately in need of supply of is small, affordable, quant houses; something that any young worker can afford and start a family in. That has an insane demand that could make a lot of money off of. The market has been manipulated for so long that the supply we really need isn't getting built, and now all the greedy homeowners and real estate agencies are going to pay for it as they all sit on their portfolio of empty mcmansions.

@NothingisasitseemsPodcast 8 күн бұрын

Sachs real estate had a bigwig on recently that addressed this very issue. The issue is that the building and permit costs do not dramatically increase when building high end homes and/or condos or townhouses. And because the margins are much lower on affordable homes, they are not being built. And they are not going to be built...

@TylerofSc004 7 күн бұрын

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

@Doracox22 7 күн бұрын

great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time

@Doracox22 7 күн бұрын

Well, I chose Kristin Amber Landis as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up

@Gozer7 7 күн бұрын

Do not buy. Prices are going to drop hard

@noturmomghey 4 күн бұрын

last place you wanna ask for investing advice is a KZfaq comment section 😅

@bearbull88 3 күн бұрын

AMD is a strong buy @$165 but was a strong sell @$3.. lol, I wouldn't trust those "analysts".

@brandenbailey6384 8 күн бұрын

They stopped building to take a lunch break. Home building hasn't slowed down here.

@untheist5533 6 күн бұрын

WHO the hell is crazy enough to buy a home in FLORIDA⁉️ Home Prices,Property Taxes, Hurricane Insurance, Sky High HOA Fees/Assessments not to mention Loan % Rates are insane. WHO DOES THAT ?

@JGrogann 22 сағат бұрын

Maybe high income people who save cash on no state income tax?

@untheist5533 21 сағат бұрын

@@JGrogann Dude, don’t fall for that. They get you on everything else. I live in another no state tax state, Tennessee. While high income people make out like bandits everybody else gets screwed. When these red states say low taxes or no taxes they don’t mean YOU‼️

@geysi6122 9 күн бұрын

We have a huge shadow market in the Orlando area due to Airbnbs.

@user-dw7yq8ne2s 9 күн бұрын

AIR B& B will become AIR B & BUST. Their poorly managed, Junk FEES, simple greed catching up.

@markpitchford7375 9 күн бұрын

all of the vacation areas have that airbnb inventory looming.

@sueq2680 8 күн бұрын

We do to here in Palm Springs CA area. So sad.

@GEN_X_ 6 күн бұрын

I bought my first home in North Palm Beach for $205K. It's now going for $650K. It is completely inflated and not sustainable. It will totally collapse.

@jillnagel1962 9 күн бұрын

Thank you for your hard work.

@MSDTech 8 күн бұрын

I'm 50 seconds into the video. You are missing one very important point. INSURANCE COMPANIES RAISED THE PRICE ON FLORDIA SPCIFICLY. Florida property owners pay on average $10966 for homeowners insurance. That's more than four times the national average of $2377. And they are raising it again this month because storms are getting worse. This does not translate to the rest of the country.

@elizabethv7411 5 күн бұрын

This is planned. Political

@MR_sea6 4 күн бұрын

@@elizabethv7411 yes political, don't believe your lying eyes with the hurricanes and flooding. Climate change is just bullshit /s

@MSDTech 3 күн бұрын

@@elizabethv7411 Nope, I'm in Detroit. My insurance is $900 a year for a 200K house.

@Heather-db6wq 9 күн бұрын

Builders are also renting out their houses to their construction workers from Texas. Some houses have 6 men living in them. All construction workers. All Texas plates.

@Dickie9028 9 күн бұрын

WOW !!!!!

@mollysreadings4845 8 күн бұрын

This, here in Arizona

@brianh6680 4 күн бұрын

Florida has a homeowners insurance problem. It's gotten so bad that it's forcing people to leave the state.

@isaacwolowik 9 күн бұрын

Amazing video. Thanks.

@robertcanfield5356 9 күн бұрын

Awesome video bro!

@davidallen2682 9 күн бұрын

I’ve been waiting for this part of the collapse. Saw this in Arizona in 2008.

@CoinRunner175 9 күн бұрын

Same here. Was in AZ, got rekkt, never again.

@DIVISIONINCISION 8 күн бұрын

It started earlier than than in Arizona. 2006-ish, people started pulling back, cutting gym memberships. That was one of the signs.

@TheBumbadawg 7 күн бұрын

The video is bs. Lol. That community is virtually built out. Astonia North is almost done and this is Astonia South. The Chateaus at Astonia (TH's) are being built next door. Best I can tell...there may be 3 spec homes for sale. Everything else is sold.

@agotch23 8 күн бұрын

Thank you for your reporting… your insight is appreciated! 💕🙏

@talkingonline821 9 күн бұрын

There is not a shortage of inventory. Corporations that have purchased subdivisions are not selling, they are renting them out, and they are having difficulty even getting renters. The corporate rentals are all over big cities in the US. Some right down the street. Great to see FL kicking off pre season for the upcoming 2025 crash. Wait maybe Im wrong because "this time is different..."

@mwebb3014 8 күн бұрын

I love the 55+ mobile home communities but the $800+/mo lot leases are insane and so greedy.

@MrJt3451 4 күн бұрын

thats what i have been looking at for a second winter home but the lots rents forget about it its insane and should be regulated better there is no way i am paying 1000 a month for lot rent

@shrek420ify 8 күн бұрын

Part of the issues is they don’t build any infrastructure no stores no restaurants they just build houses lots and lots of houses. I live about 20 min away from where this was filmed and the only thing around me is dollar general floridas answer for everything is dollar general

@TheBumbadawg 7 күн бұрын

Huh? Posner? Everything on Hwy 27? Championsgate is 5 mins from here. A new shopping center with Walmart etc popping up here so you dont need to go to Haines or Clermont. But Wilson Rd into Reunion.....this is 18-20 mins from Disney.

@shrek420ify 7 күн бұрын

@@TheBumbadawg I live the other directions in poinciana in the back villages the closest store not dollar general is 20 min away. There’s two two lane roads going in and out traffic sucks and they are building houses like crazy.

@TheBumbadawg 7 күн бұрын

@@shrek420ify Well on that we can agree. Pine Tree over here..which is one mile long is horrific. But yes...what is between us...is that hwy 17 through Intercession? That whole area is empty.

@Nevaht 9 күн бұрын

You’re the best!!! Thanks for all the information! Well appreciated. God bless you! It takes some one as honest and knowledgeable as you to give us this needed information. Others are lying about the housing crisis.

@greendoorpropertygroupmica8328 8 күн бұрын

Thanks Very Much‼️ Please Keep Going On Trips & Sharing ‼️📣😮

@ultanwoods 9 күн бұрын

Another great video man

@TheBumbadawg 7 күн бұрын

But he is lying.

@shoshanna8475 8 күн бұрын

No, it's a great sign that the market will correct. There's plenty of demand for housing. There's NO demand for OVER-priced, $500K shit boxes that no one can afford. When that home is $180K again, it'll sell.

@TheBumbadawg 7 күн бұрын

They are $325-$410k (depending on model and builder) and are virtually sold out.

@soundwave4208 9 күн бұрын

Thanks for doing and reporting the work. Nashville appreciate you

@TheBumbadawg 7 күн бұрын

He is lying.

@salruiz7024 8 күн бұрын

Thk u for saying the truth, great video 👍

@marcimac9 8 күн бұрын

another really unfair thing about purchasing a home in Florida is that your property taxes are based on purchase price. So property taxes soared the past few years along with the soaring home prices. When you see an older home that was paying $2,000/year and you buy that house for $800,000 figure your taxes at 1.2% of that and your taxes are now almost $10,000/year

@atombomb31458 5 күн бұрын

Spoiled. Those taxes are still very low. Go to any part of the NE USA and taxes way higher

@bearbull88 3 күн бұрын

If you're buying from out of state it really hits but you still get the homestead deduction which helps a little but if you sold a house you bought in Florida years ago when it was affordable you can carry some of that tax savings into the next in-state purchase, which is pretty cool.

@OrlandoSuave 9 күн бұрын

Welcome to Florida in the summer, got rained on 😂 thanks for the info!

@RichinZhills 4 күн бұрын

Don't forget about the traffic issues cropping up. Many farms have sold to developers and now there's 300+ more homes crammed into those acres and attached to a 2-lane SR. All the 50's (52, 54, 56) and 301 are just turning into parking lots during the breakfast, lunch, and dinner travel times.

@jdm8220 9 күн бұрын

Great video. I have been looking at those areas but have been hesitant due to reasons u mentioned. Don't forget the CRAZY CDD and HOA Fees associated with these new builds. The HOA's also want to restrict you from possibly doing short terms ( no thank you, i want my rights to do whatever i want).

@flamingofan5411 9 күн бұрын

Yep. No CDD or HOA for me!

@user-uo7fw5bo1o 8 күн бұрын

I understand about CDDs for condos but HOAs should be transformed to boroughs or small municipalities. Otherwise how can they be held accountable?

@TheBumbadawg 7 күн бұрын

These have low HOA fees and the CDD isn't bad. The HOA fee's will increase after turnover--but virtually no common area for HOA so wont be bad.

@jdm8220 7 күн бұрын

@@TheBumbadawgagreed. But they place restrictions which depending on ur situation can be a pro or con.

@TheBumbadawg 7 күн бұрын

@@jdm8220 Oh I don't disagree. Homey---I am an LCAM for a living. People pay to hate me. 🤣 I review a hundred CC&Rs a month and see some downright ludicrous shit. Saw it in NC and here. But, Florida Legislature is making some moves to slap down some HOA power which has bipartisan support. So we shall see.

@veroperez8391 9 күн бұрын

Thanks for coming to Florida! It’s nice to see you are seeing the same thing I am.

@scottmong8763 6 күн бұрын

Very informative video. Appreciate sir !

@TheBloodygain 8 күн бұрын

Thank you. For your videos

@David-os9ej 8 күн бұрын

You definitely get a different picture of what’s going on by walking residential neighborhoods. In 2008 I did some door to door campaigning in Reno and Las Vegas. It had to be every third house had a lock box. On a weekend day you would see a lot rental trucks being packed up as people’s’ lives were thrown into chaos. I knew the housing market had gone bust, but seeing it brought the human cost into focus.

@tobyk5149 8 күн бұрын

yes I was in Vegas then and often working in Phoenix and and I saw this too

@sandrawesseln9619 9 күн бұрын

Here in SW Ocala DR Horton is building homes, townhomes, apartments, by the hundreds. Enormous pastures are being developed and with industrial size equipment. I traveled a road I hadn’t driven in maybe a month, both sides of the road was beautiful pastures but are now dozens of acres of dirt piles.

@DIVISIONINCISION 8 күн бұрын

DR Horton are the worst home builder. I don't understand why people don't research them before buying.

@nanatexidor5313 8 күн бұрын

Ocala no longer look the same, all you see is cheap homes being build and distribution centers, now we see bears walking all over the place smh

@Spearadica 8 күн бұрын

One of my friend bought their DR Horton house in 2020 and just recently got severe leakage from the roof and windows, bad flooding for days till they figured out! Stay away from this construction company

@mainegreengrower4209 8 күн бұрын

Investors ruling the markets

@user-uo7fw5bo1o 8 күн бұрын

These developers are destroying what has made Florida beautiful! I wonder how soon before it becomes just one vast suburb?

@naturelover2292 8 күн бұрын

Great video! Keep up the good work hopefully people are paying attention. I don’t see this ending well , a lot of homes have been purchased At bloated prices.

@leedonald4675 4 күн бұрын

it is great to always hear actual situation from it

@donnab3183 9 күн бұрын

Good information, thank you.

@tomjones2348 9 күн бұрын

Minute 10:22. Hilarious, Nick! In Florida, when it's raining, and you hear thunder, watch out for lightnin! Thanks for the great report.

@paulsaulpaul 9 күн бұрын

Probably why none of the home builders were working that day. Rain was obviously forecasted given the cloud cover. Not sure I'd consider that "builders abandoning projects" as the video title says. Especially since the equipment, dumpsters, and porta potties were still on site in most of those shots.

@Sedonaranchretreats 7 күн бұрын

Your videos are extremely helpful. Thank you for taking the time to be boots on the ground 🙏

@BigCypressSwamp 4 күн бұрын

Not a single large shade tree in that neighborhood. Its a shame what has happened to Florida.

@ltcmoose2001 9 күн бұрын

These builders made so much money that they can just close up shop and just wait it out. They own the land. They can wait a few years then continue building the sub divisions. They have no problem letting all of their sub contractors go except for the one or two good ones to keep around to when things get going again. We wish in the northeast that we had all this inventory but we don't have the available land to do these massive builds.

@user-uo7fw5bo1o 8 күн бұрын

Well they need to finish the houses and rent them out or at least secure them! Otherwise the neighborhood will become a run-down hood.

@ctwriter1670 5 күн бұрын

Hey, be happy you don’t have to land to develop in NE. Then it would look like Florida. At least we have (some) charm and character in our towns.

@iraAlbucher 9 күн бұрын

while you are in Florida can you please check the waterfront SE Condo market. Many new being built in Pompano & Fort Lauderdale area. No price reduction yet?

@josephguastella8037 9 күн бұрын

Selling mine before my special assement is final 😢

@joyseem.rodriguezbaide5349 7 күн бұрын

Thanks for your interesting video

@ajoepetrucceJr 8 күн бұрын

You need to come here to Noblesville, Carmel, Westfield, or Fishers Indiana, where NEW home construction is out numbering the existing and crews are maxed out.

@lilishyta-ep4wr 9 күн бұрын

They build cheap houses that can’t stand hurricanes. Why they don’t build with bricks?

@LinguistRevolutioner 9 күн бұрын

Too expensive for the developers

@-Nick-T 9 күн бұрын

these are block homes, 1st level is anyhow.

@Smithy88888 8 күн бұрын

Yeah I thought first level was supposed to be block but now I’m seeing alot of wood structures again.

@rollthers3157 8 күн бұрын

It's concrete block. Brick isn't that great.

@JT-en9ni 8 күн бұрын

Some neighborhood in south Florida are actually cast in place concrete with impact window. The only hurricane damage they get are roof damage.

@michaelweaver2627 9 күн бұрын

Still building in the Florida Vero Beach area.

@Skookshitbag 9 күн бұрын

Def a lot of land in indian river county to develop esp if they change zonings.

@mattanderson6672 4 күн бұрын

Thank you Sir

@user-jt4fy4od9r 3 күн бұрын

I worked in construction for years and if the sites at the start of this video were abandoned, the rented portaloo and skips would have gone long ago. that said - I think this video is a very good illustration of how much things are changing.

@searlearnold2867 9 күн бұрын

Thanks for taking one for the team and getting soaked !

@lindaludwig9655 8 күн бұрын

Also my little town where I live near Gainesville. I was walking down main Street and I'm telling you at least five or six shops are just gone and the same with the little plazas around here so many shutting down so you can't tell me that you're not right ! I know you are and I've been through 2008 . It's going to be time to buy a home for everyone here in Florida! Where I'm living the houses are really not going down ,but the inventory is skyrocketing houses are about 35% or more overvalued.

@colorworld8077 9 күн бұрын

Excellent report

@TheBumbadawg 7 күн бұрын

But he is lying.

@Distortic 9 күн бұрын

Being close to disney mean nothing when the entire state has abandoned the idea of equitable wages. 65k average income is not representative of median wages for the population.

@MultiRocknroll123 9 күн бұрын

Appreciate the on the ground content!

@jimmydean4509 8 күн бұрын

I'm seeing inventory in trendy Bend Oregon going up .1 months per week. We are now at 3.2 months, up from a cycle low of 7 days in 2021. A huge local builder just listed homes and duplexes he built in 1991 and has been renting for sale today. 4 homes and 2 duplexes. Another newer but larger local builder just cut prices in a subdivision in the $500-600k range by $25-50k.

@inthegame26 8 күн бұрын

Polk county, FL had the highest net migration in the USA over the past 3 years. Especially, the part near Disney. This is 100% correct. The correction is happening here, big time. Pretty cool to see my housing market analyzed from the ground. Thanks for sharing

@dawson0610 9 күн бұрын

Nick could you please do video on Celebration Florida while you are down there in FL? Thanks

@adoss7273 9 күн бұрын

Meh, maybe it's "worse than 2008" if we're talking about the spring of 2008 or something. What a lot of us are looking for is the situation in 2010 and 2011 where things were slashed by 40%-50% and people were mailing the keys back to the bank ("jingle mail"). I sold commercial REO foreclosures for banks in Florida during this time and I remember selling an entire abandoned master planned development project in Punta Gorda, FL. The developer just walked on the whole thing. That was 2009-2010. When it gets to 2010 levels, let me know, I'm down, cuz prices are still waaaaaay too high right now, and banks are still lending. Unemployment is nowhere near high enough, either.

@soquick69 9 күн бұрын

The major shift down happened between late 08 and early 10.

@talkingonline821 9 күн бұрын

What does meh mean?

@adoss7273 9 күн бұрын

@@talkingonline821 It means "eh whatever".

@DIVISIONINCISION 8 күн бұрын

@@adoss7273 So this is basically, 2006 right now?

@adoss7273 8 күн бұрын

@@DIVISIONINCISION Maybe more like 2007 but we are splitting hairs. I did a refi back then, and the house I'd bought in 2005 appraised for more than I paid. By 2011 the same house was worth half and I was really underwater. It pretty much took the stock market crash in late 2008 to get the party started.