Had a friend who was like a second mother to me. She told me a long time ago to buy a small, simple house and get it paid for by the time I was 50. She said don’t fall for getting bigger and fancier houses because it is very hard to pay a mortgage or rent on social security. I’m 55 now, and have lived in my little house since I was 22. Sure, I would love a bigger, nicer house. Who wouldn’t? But I sure don’t want a huge mortgage when I’m 70!
It was my mother who told me I needed to buy a house. I found one the next day on the next block and with my mother's help I paid cash for it. I've lived in my little house for 30 years and have no desire whatsoever to move to a different house. By the way, last summer I was offered 23 times what I paid for it. Nope. I love it here.
My wife and myself looked at MANY small houses when looking to purchase but HMMMMMMMMMMM all the boomers that owned the houses before absolutely left them in shambles. We were forced to buy a home FAR outside of what we wanted simply because we needed a move in ready home that didn't need repairs. Boomer homeowners ruined the market Hard-core.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living
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The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
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Your right. I think the differences in Florida is that in the near future, the state could eventually run out of room to spread out, which will make the housing crisis much worse than it is now. Places like New York, Southern California and San Francisco can’t grow much, because there’s basically no more room to spread out. Only way is to continue to build up.
You not alone it's happening across Canada too an average one bedroom apartment is 1600 a month an average house starts at 500,000 So messed up! A young person can't own a house because it's so expensive and retired person is on a fix income payments that is less the apartment rent. I know Canada will be going to a recession mid year 2023. 😑
Many, seniors like me are living in RV parks to survive and those rental rates went sky-high last year. Now we have seniors living at Walmart in their vehicles. It's disgusting to see people who were hard workers, owned their homes, and had some money in the bank end up like this.
@@CN45475 easy answer. We have an economy that is built upon endless growth. The native birthrate is flat. To get new consumers you have to import them. The powers that be don’t care if that displaces you.
not just seniors moving to Florida, all the people from NY, CA etc moving there, when you have too many people chasing too few housing, prices jump up and retired seniors get hurt by having their places skyrocket in price.
actually i find history to be helpful because from studying history i learn that for most of human existence majority of people lived in poverty. and what we've experienced at least since post ww2 up until 2000 was a blip on the radar as that was a unsual period of time where peoples sandard of living was well above normal compared to historical norms.
Anyone who tells you that renting as a senior is a good idea is flat wrong. Renting puts you at the mercy of the landlord every 12 months. While owning property you may have to deal with HOA fees, in 3 years ( since 2020) my condo HOA fees have gone up $60. But in the same three years my old apartment has gone up $⁷00 a month. Renting as a retired person may have been desirable a decade or more ago but it certainly isn't now and this is why.
renting only makes sense if and only if the rents can be guaranteed to not raise for years or decades. (price control) other than that you're right. it's like getting a house with a variable fixed rate loan.. a recipe for disaster
The issue here is all of these women are single. You have options, you A) get a roommate which one of them had but she didnt like it. Or B) you sucker some dumb schmuck like the guy who died but now she is back to option A. The problem, for these women is that most men are kind of done with this stuff. But the consequences to the market when instead of having two people in one place, you have 2 people in 2 places, well then you run into shortages. But you are right, renting is dumb for those who retire. The sad truth is most of these women wouldnt be able to upkeep a house the way it needs and it would quickly fall into disrepair and then you would have them spending money hand over fist to fix things. You really have to wonder where their families are though.
I am a senior who lives in Orlando. Worked there my entire life and retired there. Florida has always been not that kind to the natives. Low wages and since the early seventies high cost of living. It has got to the point you can be working full time and live out of your car. I see it all around me in my town. Plenty of grandmas living in the bushes . If I did not own my own home out right and had family here I would move out of state. Even though I could pay the outrages rents I refuse to do so. Plenty of other places actually more desirable and cheaper. As long as people keep electing the same politicians to power the system is not changing. It will favor the rich at the expense of the working class. Plenty of seniors voted for the people who brought this trouble to them.
Totally agree. People believe the fake news and propaganda they see on TV and are convinced they should vote conservative. Either they don't vote at all or they vote to benefit the grifters, the millionaires and even billionaires. The workers have paid taxes all their lives, while many of the rich pay zero tax. Trump is only 1 example of many. If all the Trumps, Bezos, Musk etc paid at least 20% income tax the situation would be totally different. Unfortunately in these MSM times it will probably only get worse. The rich can afford to fill media with their lies, while regular workers are ashamed for not being able to retire with dignity.
Wow….that’s terrible. More Seniors that have houses should help other seniors. I have a very large house and rent rooms to others. Reason being is that I don’t want to be alone, and I got 2 renters that help me out. It’s a win- win for all of us. I also don’t charge them an arm or a leg either. Nice house, safe area, good people. They help me and I help them.
It's a systemic problem. Happening all over the world, which is why we're seeing more multigenerational homes since both young people and elders can't afford housing alone. A DAMN SHAME.
@@homedoghappiness I grew up in multigen home, as well as many other friends of mine in the 70s. Nursing homes were a last resort. Daycare? That was grandma and auntie, or the neighbor. Again, last resort.
Why???? It's what they voted for....who does the GOP voter elect again? The people who want a social safety net or the ones who want to take that away.....oh, NOW they need that net??? 🤣😂🤣😂 Reaping exactly what they sowed for DECADES now they don't like that crop???? Well, BOOTSTRAPS!!!
Part of this goes back to the start of the 401K, and the elimination of pension plans. With Florida it’s compounded with higher demand for seniors and higher maintenance costs for owners due to much greater insurance costs. Call it a perfect storm.
Yeah.., it's pretty shitty, because Society by design..., knows older people aren't hired, nor are they in demand as much as younger and fresh workers. Because they used to receive Pensions, they used to just draw their normal salary at retirement. Thing is: 401K's, are little more, than bank accounts, where people just spend them down to nothing, and so they end up 'One the Skids' after just a few short years.. Yes, well said.
This is so truth. 401k do not last long in retirement. I working for my pension and benefits. I have 2 other retirement plans at my job. I contribute $400 a month on top of my pension. And I have an investment account. Just got a CD at the bank that pays dividends. Just trying to make sure I make it in retirement
@@MsGenXodus Politicians can't help with rents. These are market forces. Trying to manipulate the market just makes it worse for everyone over time. What politicians could do is clamp down on immigration. Two million new immigrants into the country every year is going to put a lot of pressure on the housing market.
Think I’d move to a cheaper state to live. The problems the same in Texas..overwhelmed by new people drives up the home prices, and locals are forced to leave. Tragic for pensioners.
This is why America is a HORRIFIC society inside and out, it's the devil's playground. We don't care for any of our vulnerable members down to animals.
@@Suzi277 Right and Floridians have elected Scott (Ran a company convicted of largest Medicare fraud in history) who wrote a bill to privatize Medicare and SSI.
Pensioners grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Differing investment approaches yielded disparate results. Guided by a financial advisor.
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@@duancoviero9759 You are delusional. Retirees had 47 years of adulthood from ages 18 to 65 years old. In nearly 5 decades of being an adult there was ample opportunity to better themselves, educate themselves, get better jobs, invest, save, buy a home when it was easy to qualify for and afford. My sister has been on disability since she was 23 and has a home paid off. Old age/retirement/becoming elderly doesn't just surprise you, we all KNOW it's coming if we don't die early. 401K accounts, savings accounts, home ownership have been around for ages. No excuse to not be prepared for being a senior except for failing to participate in their own wellbeing.
@@duancoviero9759 People don't go to bed 20 years old then wake up 65. It's DECADES of adult life to get to that age. They had DECADES to save, advance in their careers, invest, buy a very affordable home and have it paid off. Seniors today had EVERY opportunity to buy a home, houses were never cheaper or easier to qualify for than they were 20-40 years ago. BUT...so many didn't even bother to prepare for old age. My house payment in 2000 was $325. a month. It's paid off, now my taxes and insurance are $117 a month. I'm so glad I prepared to retire when I was young. Many of my friends did, too. But so many my age didn't even bother to take the time to prepare. It's the old story of the Grasshopper and the Ants.
Yes, especially the Republicans who don't care if older people die of COVID or want to cut taxes on the rich even more. And should I mention the House GOP wants to hold the debt ceiling hostage, threatening the US and world economy?
8 years ago I and brother moved into a 55+ community in Palm Beach County. It was affordable. Our owner sold his place and were blessed to find another lovely 2/1 to rent quite affordable. But over the last 3 years, places that one could manage financially are becoming out of reach. I still work full time at 72 and meet so many desperate to find a place they can afford.
That what I am doing living in 55 plus rental community in Key Largo, Florida. I sold the boat and house. I paid mortgages for 38 years. No more property taxes, no more hurricane insurance, no new roof just to get insurance. Had air conditioners break brand new in 11 months. 2 kids gone to college all own homes now finally free. Rental in Key Largo is $2500 if it go to $3000 i move to Ft lauderdale. There is 200 of them 55 plus communities. I am a realtor so can find the great rents,
This is happening here in NC to just regular folks too. There are plenty of empty houses in the market for rent but they are unaffordable for many. The media and state leaders continue to say there is a housing shortage but that’s a lie. Everyone can’t meet make 3x’s rent, good credit, and their no evictions requirements. Many families here in NC are homeless, not because lack of housing but because of higher rental costs and unreasonable requirements. My family and I lived in a house for almost 10 years and we found ourselves living in an extended stay. Only by God’s grace and blessings were we able to find an apartment. We should all march for affordable housing cause it has gotten ridicules when our elders and children are having to deal with the disaster that greedy people have created.
If you keep depending on God's grace, then prepare for disappointment. What is an extended stay? Did you actually PAY RENT for TEN YEARS?!?! That's insane! Ten years ago houses were CHEAP!! Why didn't you BUY ONE then?? You'd have equity, a cheap mortgage and a house that you are paying down!! You paid all that money in rent (I assume it was rent) and now you have nothing to show for it. Rentals have their short term place, but ten years is a waste of money!
Okay, not everyone is able to buy, so let’s look at the real issue. Greed and policies that keep the poor under the power of the rich. I said it once and I will say it again. Just because you own your home you truly do not own it. If you fall behind in taxes you are subject to foreclosure. So, stop this you should have bought gimmick! And blaming migration this is the reason why citizens are being treated like this. They know we only blame each other rather facing the elephant in the room.
Hi John. First, an extended stay is a hotel that offers a place away from home as long as you need it. The hotels are set up like small studio apartments. You also have access to washers/dryers and can even have your mail sent there. There are many homeless families who live there but anyone can stay there. Prices depend on the size of the rooms. Next, I don’t own my own house because when I applied to buy that very home almost 10 yrs. ago, the bank told me that unfortunately my income didn’t qualify me but I don’t feel like I wasted my money because during the time I spent there, my husband and I were able to finish raising our children and seeing them off to college. Yeah, I would had rather been able to own it because as a foster kid I don’t have any wealth of my own and I would love to pass down something of value to my children. Lastly, I have learned that when one depends on men, one is bound to be disappointed but when I depend on the Lord of heaven and earth, he has gotten me and my family through situations that nor men nor money could move. He’s the rock on which I stand, my fortress, and protection. Being a Christian doesn’t mean that all your days well be perfect but it does guarantee your salvation and God’s protective hand through the storms.
This is so heartbreaking, but it is what I am also facing. I am not a senior (yet) but I am disabled (chronic pain disorder) and was abandoned by my husband when it was clear that I wasn’t going to get better. After having to move multiple times and the last straw was getting beat up by my boyfriend, I asked my mom if I could move in with her. I feel terrible about intruding on her life, but I really don’t know what else I can afford. Section 8 housing is so hard to find. Thank you for reading my comment! ✌🏼💖
My husband walked out on me, too, when it was clear my disability was permanent. He left me with two of our children still living at home and unfortunately, they had to take care of me through 13 surgeries and push my wheelchair to school parent-teacher conferences. It caused me to have PTSD and major depressive disorder. That was ten years ago and I still struggle with it. Now, I’m truly blessed that my oldest daughter took me in when I got evicted two months ago, but I lost everything. All I could take was my personal belongings cause I had to move out of state. I never dreamed my life would end up like this. I understand exactly how you feel.
I am 62 and live in section 8. I have a nice apartment in Illinois. It is so sad to see these older ladies struggling. I am seeing more and more women in their 70s having to live in their cars! Its humiliating and demeaning for them!
This is the result of the corrupt gov't removing God from schools & breaking up the family unit by indoctrinating women into feminism in those godless gov't schools.
@@Thyalwaysseek , Thank you for sharing that--I think it's important for everyone to know. We all can get tunnel vision sometimes and think "it's just me," or it's just my city/state/country." There is something absolutely diabolical going on and I think we (America) started it-I am talking about greed and the love of money over ALL else. It's absolutely evil what is being allowed to happen to the elderly, single people, young people---all of us!
As a retired senior in CA I feel very lucky. Against my accountant's advice, I paid off my home 30 years ago and have lived mortgage free ever since. I receive government assistance that takes care of my food and medical bills, and SS covers the rest, more or less. I took a chance on deciding my financial future all those years ago, and have never regretted it. Love my little community and my house, and know how fortunate I am.
YOU did it right!! My dad did a similar thing. He actually built his house in 1974, and it was VERY INEXPENSIVE! He worked in construction which was going gang busters at the time. Where most people were spending their money on crap, he was paying down his house. He paid it off in 1979. He is still living in it today. Yes, he's remodeled it a couplie of times, made improvements, built a garage and storage and such but as far as he is concerned it is a MANSION!! Today he is 77 and has money falling out of his ears! I too managed to pay off TWO homes over my life time. I am 57, gonna retire in two years. One way I managed to pay off two homes was to invest in real estate back in 2011. I purchased a home in Phoenix. It TPIPLED in value in 7 years, I sold it and used that money to pay off my house. I had some money left over, so I invested in another depressed market which doubled in value in 5 years. Sold those too!
Yep. People told me that paying off my home didn't make any sense since inflation is going up faster than my loan was at 4%. That was a couple years ago when inflation was starting to climb and the stock market was going higher. I told these people that I didn't need to own a single stock in order to survive. I also told them that I didn't want to gamble with my house money. I'd rather pay off the house and gamble with investment money later. Fast forward to today, I don't regret paying off my home one bit. The stock market is down and I don't care. I am using what would have been my mortgage payment, and putting into the stock market and picking up some good stocks for cheap.
This is really sad but as bad as it is, it will get worse. It might be a good idea for seniors to start sharing homes in order to share the expenses, for those who have the extra bedroom(s) anyway. Not what any of us want to do but it would be better than living on the street or in a car. Shelter over our heads, a bathroom for hygiene and food to eat are more than many seniors have. I think the way the country is going, this will be the answer for many families. I know a lot of seniors that have to live with their children now and a lot of grown adults with children that have had to move in with their parents again. Not the life we dreamed of living but we might have to consider these things going forward.
The Lost Generation (Out Great-Great Grandparents) commonly lived together in multigenerational houses even their Adult children stayed in the 1900s, 10s, and 20s.
A bunch of seniors living together is not a bad thing. Some of my friends and I have discussed doing this later in life when spouses have passed. Aside from economic issues there is safety to worry about. Plus you don't get lonely when you live with people. Think of it as a sorority house for oldies.
Yes that sounds like a good solution. Will combat loneliness too and can share cooking responsibilities etc..hard to give up our precious possessions but much better than losing everything and being homeless.
@@vickster4474 exactly! My mom has already passed and I was her only child. This was my biggest fear for her. I'm not happy she's gone, though I'm relieved she's not facing this in the future. Not a night I could sleep if my mom was homeless. I'd at least put her in a hotel or to a friend's house. Glad it worked out. Shame family is like this. 😪
Who’s fault is that? They didn’t prepare. Ss is NOT supposed to be lived on and you get back what you put in. So if you made 30k a year you get less back, you should know you can’t live on that. Also, when you were younger and divorced your husband for no good reason, or had kids out of wedlock you screwed yourself.
People do not like to own up to their own mistakes in life. The most important thing they should be focusing on is their health, and their wealth. They shoulda been investing in something since they were young in their 20s. I could only WISH I had the opportunity to be alive 50 years ago, man there was so much more supply in real estate, an way less demand. Hell even if you invested in the stock market 50 years ago, you’d be making out great. I gotta feeling these women never thought about personal finance and surely didn’t think about investing extra money instead of buying extra consumer items. It’s a shame, but it’s a mistake I don’t plan on making. Our seniors have absolutely SCREWED the youth by collecting so damn much in SS, it’s hard to feel sorry for ppl that don’t try to learn a diff way of doing things
@@dcg590 You're stating logic in a world gone communist. It all started with FDR. He destroyed the family with this b.s. communism. Now everyone is on here virtue signaling, showing how "wonderful" they are. Everyone waiting for the "govt" to do something.
@@johannesswillery7855 No. State rules and guidelines give you a civilized society where the needs of the population are more important than corporate profits. When your bony old arse is on the concrete you may come to that realization.
It's happening all over. I am with you ladies. Rents are through the roof. I'm living with roommates because it's the only way to make ends meet. God Bless.
People used to be able to depend on their families and extended families for assistance. Parents and their working adult children could purchase a larger home together and share expenses. Many cultures share living arrangements.
My mother helped me pay cash for a house and then she and eventually my brother spent the rest of their lives living happily in my house. It was perfect.
Housing needs to be taken off the hands of short-term rentals such as Airbnb, corporations licking their lips and turning each house to rental properties and people with more properties than fingers on their hands... Unless this is done and I mean done yesterday we will unfortunately see more people homeless or rent trapped for life and suffering from mental and physical health problems. This was always a growing issue but cheap money leading up to covid, large amounts of stimulus during covid and continuous tax incentives for investors has made the situation far worse. Corporations and governments like to push the agenda that there are not enough houses being built but someone please explain why the house prices went bananas during the pandemic when population growth was at a standstill... Issue is housing should not be an investment plain and simple but unfortunately the greedy like to add to their piles of wealth at the expense of the rest. Government is now trying to tame this with interest rates rises but unfortunately all this is doing is pay my mortgage landlord's passing on the bill to renters. Communities and families are being destroyed in the process.
@@montyjackson8156 what's the alternative? Communism takes away any freedom of choice since the government controls every part of your life. As hard as it is in America, people are waking up to realize that this is part of the elitists agenda. When you look at how they are destroying our energy sector, bankrupting our country and allowing millions to enter our country, this is by design.
Horrific. I cannot handle seniors being treated like this. We can send TRILLIONS of dollars to other countries yet we can't help our seniors/children/veterans/anyone. It's horrible.
Its the same everywhere. Canadian currently in Germany. In Canada a refugee family will get 2.5X what a seniors would get that have paid into CPP their entire lives. In Germany its the same. Someone coming from the Ukraine often gets an apartment and more $$ than someone who worked for 45 years and paid into the system. Its great to help others, but you should look after your own first.
That’s because starting with the republicans, we have become a throwaway generation. We gave our lives, our talent, our money and now they just want us gone. The United States is not the great country I grew up in 80 years ago. No one who could do anything or help seems to care. But I would give the time I have left if it would help my fellow seniors.
@@georgemiller6765 Isn't it ironic this is happening now, with Biden in place. Hmmm, this is what happens when you vote for people who print trillions of dollars in 2 years, go to war in Ukraine, and allow millions of illegal immigrants into the country who have no money and no where to live.
@@georgemiller6765 They keep voting against their own economic interests and then whine about it. Republicans have announced their plans to eliminate social security, yet most Florida retirees think DeSantis is the Second Coming.
Well, that would be my plan if it ever came to that. In America you’d better work as long as you can and have side hustles or no matter who or what you do the odds are against us. This is the land of the ultra rich and the ultra poor. The middle class will soon be no more.
The Golden Girls was a FICTIONAL, scripted TV show with most of the women in their 50s, not in their 70s. How naive do you have to be to believe that real life is mirrored in scripted TV shows?
I'm a senior, but young people are going thru the very same thing without at least being able to depend on a social security income. Most are only a couple of paychecks away from homeless....and many have children. Does the govt care? No.
That's why I don't waste my time voting for anyone because they all refuse to lower taxes lower rent we need free health care that covers stuff we need cheap housing too if Russia can do it why can't the united States of America
Should the government care? Dont the tax payers who haven’t messed up their lives pay for enough? So tired of the sob stories. Take care of yourself and stop expecting someone else to save you.
@@dcg590 I actually said I didn't need saving. I'm fine financially. But, I do realize it's hard for young people to get ahead when their pay doesn't cover the inflation. Many are too immature to budget & many have nothing TO budget with. It's all kinda sad.
I'd love to see someone create a tiny/small house village for single older women 65+. It would be that hard to do & I think most would enjoy the company.
@@worndown8280 Wow, I think you total misread their grief. These women look like the type of women that helped people all their life, they never expected to be in the same situation. The difference is now there's nobody to help them. Young families would be incredibly wise to invite these people into their house to help with tasks in exchange for a room and board. It would be a win-win situation for both the families and the women. There's a lot of wisdom in those years but they'd also need to remember not to push the same stress and daily pressures on to them but rather pick up on the nuances of a past time.
Ask yourself WHY this is happening. Shame on developers for not building affordable housing because they’re more interested in raking in profits. Shame on the government for allowing corporations to buy up housing and not putting protections in for people in our society. We’re always the one who end up paying for greedy people, corporations, and institutions that don’t give back to humanity. Shame on every single person who has contributed to this result. This is going to get worse and our social welfare system does not have the capacity nor resources to help everyone (because a certain sector of our government doesn’t believe in investing in human beings and choose profits over people). Disgusting. This is absolutely heartbreaking to see what’s happening to good, honest, hard working people.
That's New Testament stuff. My parents built affordable housing in a barrio in the seventies. But developers aren't "New Testament" types: they're usually OLD Testament types.
I am fortunate as a senior to have subsidized housing in a seniors building. I was on a list for about 13 months, living in rented rooms until I got this place! I feel terrible for all the people who can’t find affordable housing!❤🇨🇦
I really feel for them. I too am a senior and grateful a US Army Veteran. They are the ones that helped me get on my feet. I was homeless but not now. The woman that considered it welfare should not. She needs help to defray the cost of this housing crunch. Even Section 8 is having a hard time finding places for Seniors let alone everyone else on that list.
I don't feel anything, they are getting what they voted for.....they just thought the GOP wouldn't do it to them. Now, they are getting all they DESERVE.
She thought that she was too good to ever need "welfare" ... but life circumstances have humbled her. Perhaps she can vote in favor of the Democratic social policies...since she now benefits from them.
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I can really feel for these ladies. It’s awful out there. Greed has taken over and it’s going to ruin peoples lives. So all these 1/1 that are over $2000 shame on you. Nobody should have a rent increase that high. Not a senior, not a college student not a family should have to live like this. Florida is the worst state when it comes to its people anyway.
YET PEOPLE KEEP RUNNING down there ... and with it being in a flood zone I for one don’t understand it ! But this housing CRISIS is happening seems like most EVERYWHERE !
Florida is growing at a massive rate . Quickly becoming a victim of its own success . And It's putting a severe strain on the Middle Class and the Poor . To the point many may have no choice but to consider leaving the State for somewhere less expensive . Rents are going to do nothing but go higher everywhere in Florida as the Influx shows no signs of abating anytime soon .
840 square foot condo purchase in 2020 cost me 100k. Today that same purchase will bring you $215k and they can't keep them on the shelf. People are desperate for affordable housing and it's actually now considered affordable housing. So people snatch them as fast as they go on the market.
@@consumerdebtchitchat I live in Canada and the Chinese completely destroyed our housing market. I live in Markham, Ontario but I'm white. The same condo here would sell for right around a million dollars and would have sold for around 1.25 millions about 10 and a half months ago. We don't make very much more money here. Out west in British Columbia homes are a lot more and people earn a lot less.
I live in Tulsa, OK and for years I've heard people saying "you need to move to Florida"! I saw this coming years ago and decided to stay in boring Tulsa so I could afford a nice trip every once in a while. This is no different than the crazy real estate prices in California. If you feel you have to live in those popular areas, then you best have a real big retirement fund, because those areas are going to absolutely fleece you of everything you own. Time to get practical and live in areas that are affordable.
Sorry grandma dont always think you have to live alone. As a grandchild if my grandma ever lived like this I would tell her to live with me. I wouldn't mind her watching the great grand kids. She wouldn't even have to pay rent.
@@edwardmiessner6502 Years ago, I took in a homeless woman who got $700 disability because of a broken back. She had a daughter with a bunch of kids who said she didn't have room for her mother who was "sleeping" outside. I put "sleeping" in quotes because it's too dangerous for women to actually sleep outdoors.. Once the daughter realized that her mother had $700 of money every month that she wasn't spending, she took her mother in.
@@eradicator187 If the Democrats hadn't passed Social Security, Medicare, food stamps, and Medicaid, these old ladies would be living in the street. Before Social Security and Medicare, old people in America SUFFERED.
@@eradicator187 ??? Florida is run by a republican legislature who would rather fight Mickey Mouse, teachers and the cruise industry than do anything to help with actual needs.
@Lynne Simpson Absolutely they do. My parents spent every dime they made and they were my best teachers. As a little girl I swore not to be like them. As a hairdresser I bought a house and 5 rental properties that I will leave to my kids and grandkids to make their lives easier. People are rarely victims, we just eventually suffer or enjoy the consequences of our decisions and actions.
@@eckankar7756 I am sure you had help along the way. I know what hairdressers make in general and it is not a secure job. Most hairdressers work on commission so their income varies and they have to pay their own taxes and social security. I don't believe you accomplished all that as a hairdresser without a husband or financial help
@@ja1505 Ok. I get nothing having your belief. I bought a house dirt cheap, was for sale for half price if I bought it a year before construction. One of my clients, a real estate agent/investore told me about it. She was buying multiple units. The house was $27K. It was completed in 2 years, they were selling for $54K. The day I walked in to my new house I had 50% equity, used that as collateral and bought another one which I rented, my tenants paid my mortgage. I had only closing costs to pay on the second house. I did that again as I built equity in my first two houses. I had 2 room mates which paid all my mortgage on my first house, I lived for free, owned two homes paid for by tenants/roommates. Rinse and Repeat. the many books I read taught me how to do that. My hair client walked me through it. If you want something you enroll help. A professional, expert, books, whatever it takes. It's not about how much I made, it's what I did with what I made. Naysayers as you don't get it at all. There is a whole universe full of support if people will seek it out...but they'd rather shake their heads at people that have done it.
@@rcas350pilot8 That's true, but my concern is that we also have plenty of things that could result in major crises in the coming decades (climate change, wars, AI, etc.). Any of these things, as well as many that aren't even on the public radar yet could throw off people's plans. And, at the very least, COVID has taught us that our governments are ill-equipped to handle difficult situations.
Black women please pay attention: This segment is about 3 single white women who are on the verge of homelessness. We make less than they do. It is important to have a retirement account, emergency fund, stuff happens fund and own property. The first one was okay until her husband passed. 67 percent of black women are single. We can no longer be the economy. We must save save and save some more.
I agree 💯 with your comment. There are a few 20 and 30 something year olds with UA-cam channels.....and their channels encourage people to live a basic life with NO ambition to do better and achieve success. I frown on these channels because minorities are already struggling but to encourage lack of ambition or no ambition at all is simply pathetic. Wait until those 20 and 30 year olds reach their late 40s and 50s with absolutely nothing to show for it 🤷♀️
This is why we moved to Ecuador. The cost structure here is much more retiree friendly than that in the United States, plus the year round warm weather is wonderful.
@@princessunicorn669 actually it isn’t. Here in Manta the temp is 75-85F year round. No hurricanes. In Cuenca, up in the Andes it’s 60-70F year round. Because we’re at the equator there is very little variation in the weather.
I was in the Army for 22 years as an enlisted soldier and my wife stayed at home to take care of our finances as well as the kids. We were not rich but we were comfortable since we were frugal. We bought our house in 2005, a 4 bedroom, 2 baths, 1800 sq. Ft. living area for $165K in Pensacola, Fl and put at least 25% down payment the year I retired from the Army. We had a 30-yr loan mortgage but we paid the house in full in 12 years. I chose a place where I didn’t have a HOA so no HOA fees, and far from the water so I don’t have a high property insurance. Now my wife and I are living comfortably, because we have no debts. You have to prepare and live within your means if you want to own your house.
I once lived in a resort town and watched its activity. There was always a boom and bust cycle and it was taken for granted - until it disappeared. We ran out of developable land so now everything just keeps going up and up. Florida is similar except it is a state that has used up enough developable land to where the costs will just escalate without end.
@@jthomas3773 Back in the early 1970s overpopulation was a real concern and rock bands would talk about it in their songs. Now when you hear songs like "So You Won’t Have to Die" by Grand Funk Railroad they sound really dated. Especially since the population is more than double than it was then.
I asked my successful 36 year-old adult son an interesting question: If I become old and feeble, with dwindling resources, would he help me out- take me in- if I became destitute? His answer was truly sobering: For a couple of months, I could live in his driveway if I had an RV. I'm 63 now, and this surprising answer tells me I don't dare retire until I have no choice, as I now know what lies ahead of me if times grow hard.
thats a terrible son u have there,i have been taking care of my mom for 7 years now,she has alzeheimers and lupus and my son helps me take care of her,i hope ur sons attitude changes one day
A lot of people in the comments blame the elderly, saying that they should have bought homes. But home ownership is not for everybody. I had a profession that required a lot of work each week beyond "official" working hours. I tracked my hours and I found I was working 70 hours per week. I'm not very handy. My siblings warned me that the upkeep on a home is time-consuming and expensive. I had to change locations several times in my profession. For me, it made much more sense to rent. I lived in Miami in a simple, clean, no-frills apartment in a safe area. For years rent would not rise at all. One time they raised it $50/month. The manager came to each of us apologizing. Who could have predicted that between 2020-2022, rents would rise $700-$1500/month for a small one-bedroom? This makes it extremely difficult to qualify for leases now--you must earn three times the monthly rent in income. I've had apartment complexes tell me that post-pandemic, they will NOT even allow you to pay the year's rent a year in advance. So, you could qualify for apartments easily on a fixed income just a few years ago when rents were $700/month. Now, at even a low $1500/month, you are suddenly priced out, through zero fault of your own. You could have significant savings from living a very frugal life, as I did even as a highly educated professional, (no car, no furniture, no vacations, no eating out etc.) but that doesn't count as INCOME. They want the income now. Apartment complexes are sprouting up all over Florida, but they are "luxury" units catering to affluent migrants from Blue States. If you are a senior Floridian on a fixed income, you can't qualify for leases in these places. The older complexes, where seniors have lived for a decade or more, know this. So they jack up their prices, citing "market value" due to the expensive new complexes just built around them. Eventually seniors get driven out of these places, which were very reasonably priced for decades. So, what many commenters are saying is that Florida now is only for affluent transplants. "We NY-NJ-Cali people messed up our states. Now we want YOUR state. So get out and stop whining!" Florida very quickly went from an affordable paradise to California Prices, Alabama Wages, with a NY-NJ Accent. Well, now all of you Tech Bros, Finance Bros, and Blue State Bros have Florida. You'll soon find out that you've ruined it just like you ruined your states. Thanks Bros.
Blame the real estate giants who are buying up everything to turn into cash machines. The bosses of those businesses are not interested in who CAN'T pay the rent, only those who can. Rents are going up all over America and soon there will be nowhere cheap enough for the low waged to live.
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
@@nyreggie-isb23 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
Wow I'm a bit perplexed you guys are discussing about Gary Mason Brooks , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
I'm starting to near those days, and thought that as I approached the last phase of my life I would be able to move to a place like Florida. But it turns out despite having saved enough to purchase a house only a couple years ago, at the moment it's only enough to cover some dirt. It's disgusting how fast the prices shot past affordability. In fact, I've been looking now to just try to find a piece of land so I can open it up for several RVs. Basically the same for the reason as in this video. I can't afford a house any more but I imagine that there are other people in the situation that may want to do find an RV and do some gardening. It's a more simple life, but i really don't want to be part of what's happening. The shocker is, in not sure i can even air some land a basic RV connections.
@@gerritwillemvankeulen3907 Tempting, but I don't speak the language, or no anyone there, and have some complicated health issues. But I do still consider that idea!
@@thebastardgift I imagine I have had one years ago and the expense to repair it was crazy. Didn't matter what they were working on they'd add an extra zero at the end.
@@c.m.303, landowners of mobile parks are raising their rents and additional fees plus utilities are going up and when none of these payments are in your control and housing takes the lion share of your money per the math this is not a safe avenue for someone retiring AND keep in mind this land is being sold to investors who are evicting people in mass numbers to make way for new development. Florida's population is too heavily saturated, and housing will only increase. On UA-cam, check-out The Sea Lofts condos...
They should vote for politicians who are willing to deal with the things that actually affect them instead of getting whipped into a frenzy over drag queens.
@@katydid2877 no, because I talk to and parent my kids. If something I dislike gets brought up in class via their classmates (most common), we discuss it and set them straight. Bunch of lazy parents who don’t want to be bothered with raising their kids. It’s cool y’all don’t have to worry about teachers saying gay but have fun making housing/rent payments.
@@katydid2877 I raised two kids a and watched 3 grandkids going through school. They never never saw a drag Queen in school. Quit being so gullible. The whole culture war thing is a distraction while the very rich keep robbing you.
@@catrinacrystallina The bill didn’t say anything about “gay”. Parents shouldn’t have to reprogram their kids at home after public school exposes them to something they don’t approve of. Teachers used to say they didn’t have time to cover all academics. That’s OK. They have smaller classrooms now with declining enrollment.
@@katydid2877 reprogram? Yeah as I said. Lazy parents who don’t want to put in the work of raising their kids or have discussions with them about what they’re learning in school. Let UA-cam and Xbox raise them instead. How great for them.
A fixed income doesnt allow you to pay more dues or rent period! Americans have been priced out so they are tapped out. 69,000 homeless just in LA, millions on the streets, 3.9 babies born last year and millions coming here for a better life. Good luck to us all sir
@@tinahunter8453 The millions coming here for a better life will take the first job they are offered and within months will be self-supporting taxpayers. It's the American citizens who couldn't hack it for whatever reason who are nearly impossible to help. We still need to try, but it involves a lot of banging your head on a wall.
@@kerrynight3271 Ya well see, many will work under the table and not pay a dime. Just becuz their old doesnt mean they dont contribute.... taxes,food,electric,ect.
The blonde spends a lot on hair, nails etc. The widow rather live on credit cards than apply for section 8 or other programs for seniors like HUD. The other lady probably doing the same. They don't know how to manage $$ . Live on a budget within their means. It's not easy but it helps.
@@tinahunter8453 Newcomers will work under the table until they are legally allowed to work, then they will take a legal job. Many employers are desperate for good workers or any workers at all. Who should they hire if Americans refuse the jobs? And as for old people contributing, I'm 70. Of course we contribute.
Several women should try living together as roommates. It’s just as important not to be alone as it is to share expenses. Better to purchase property together if possible (even if it’s small to have some security).
The way the housing market is right now? Not to mention one lady in the video screwed up her credit by maxing out her credit cards just to get by. Many of them are on a fixed income. There's no way a single bank would give them a mortgage.
Don’t forget to blame greedy people as well. They moved to Florida 20 years ago and bought a home for 89K. Now they want to sell the same home for 459K! Talk about greed from those rich old people.
@@texasboy5117 It deosn't matter when they bought it or how much they paid for it. They are simply asking for market value. There is nothing greedy or wrong with that. Grow up!! It's the REAL world, kiddo!!!!
The Florida housing crisis is strange, because buying or renting a home, a condo, or an apartment is getting to be unaffordable except for the rich! And you have to have homeowners' insurance which is going through the roof, as are property taxes due to inflated house prices, making *keeping* a house that one had bought on mortgage, and sometimes with 100% cash down, unaffordable too. It's ridiculous, which is but one reason why I'll never move there again!
Not to go on a tangeant but some of these state legislatures have passed laws to criminalize the homeless and keep people from helping or feeding them. In LA, they are giving tickets to people for sleeping in their cars.
and it seems so many places in Florida have an HOA on top of all the other expenses. I was looking a a real nice condo and then I looked at the HOA which was $1200 a month. Yikes! So, even if you paid cash for a condo you would have that plus electric, taxes, insurance etc etc.
I bought my first house at age 29. I was told always own, never rent. Now, in my seventies I live in a gated community where my house costs $166 per month which are home owner fees that include water, trash and common area maintenance. Thats it! I took the advice given me decades ago and at the end of my life it has paid off. I'm sorry about the people in Florida getting hit with rent increases.
You used your brain, you planned. These people were on cruises & eating out every night and borrowing to pay for everything. I lived that life until almost 40 years old. I woke up and became very frugal. Now I'm over 60, still working but accumulated $ millions in assets. And I make less that $100K/year. I own an apartment in Florida. My lovely mom lives well there.
Like a Co-opt, that is a good idea. Though you have to understand in today's climate you are going up against well-funded Wall Street hedge funds for any property that you might want to buy.
When you make bad choices when you are young or financially able to live they come back and bite you in the butt later. I remember watching a CBS 60 minutes show many years ago when they met a young lady on the street and asked if she was saving for a rainy day. Her answer was curtly said no, if it rains I will just get wet.
This video makes this problem look like it only impacts elderly woman. It definitely impacts elderly men also. I found it cruel for anyone to say they can't understand how these people are in this situation. I ask those thoughtless bores what the hell America are you living in. The cost of housing is through the roof. These people are elderly on fixed incomes. They can't be expected to suddenly get a high paying job to cover the greedy high COL.
The problem is, they didn’t prepare. They don’t have savings that should have been accumulating since they were young. Fixed income should be more than ss. It’s your fault if you have no money and worked for 65 years. Choices have consequences. You have to be responsible
@@dcg590 I doubt your an older person. However your a very uncaring sounding person and that's your business. Seriously I don't know what planet your living on.
@@crand20033 I know, it's very painful to watch nursing homes, doctors and hospitals suck up all they can before one passes away. Many old women that are left fairly wealthy like to spend their days in luxury senior apt communities spending $4,000+ per mo. What a waste of a lifetime working and savings.
If you are reading this, know that you are worthy of anything you desire. Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest.
@@nyreggie-isb23 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
Wow I'm a bit perplexed you guys are discussing about Gary Mason Brooks , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
@Peter Moore Yes i do, I've known him for couple of years, I'm still using his services, His management team is quite impressive so far. With my $15,000 deposit, I made over $288,000 profit with just 10% charge.
I recently moved from North Carolina, to Florida, I was on the waiting list for four years for housing for Florida, that subsidize housing I live in now, I don’t have a choice because disability doesn’t pay much, I’m blind, I have multiple brain aneurysms, loss of hearing, and of course Blind. But I patiently waited, and the Lord provided. May God bless all of you who are looking for housing. In the town where I lived in North Carolina since I couldn’t drive it was very difficult to get around town, only to go to the doctor and to the grocery store that’s it, I couldn’t go anywhere else, because there was no transportation
The only fix is for the system to totally break-but between greedy landlords, bought politicians, and an apathetic general public the system will just continue and more seniors will end up like this.
When corporations, hedge funds, Wall Street, BlackRock and BlackStone started buying up all those single-family homes and apartment buildings across America around 2009-10-11-12 and renting them out at HIGH rents ----- that's where the problems started. Families and individuals didn't have a chance to purchase these homes/apartment buildings - because these people paid CASH!!!! The money is in the hands of the elite - making middle class/poor destitute. And - it's getting worse.
i bet some of these seniors have also voted against welfare programs, did you hear that lady that had to sign up for section 8? at long last this group is finally feeling the consequences of their voting, maybe now something will change
This morning I saw an article in our local small town rag that said reservations would be necessary if a party wants to secure one of the pagodas (beach front) for more than three hours. The reason is because the homeless have started using the facilities and picnic benches as their second home. They are taking up the picnic areas, and discouraging people from using them. This town is one of the most desirable areas in which to own property. Quaint shops, restaurants, activities for kids, skateboard park, volleyball and many city buildings for activities. But the homeless will go where they feel safe, and touristy places often offer a way to stay fed and comfortable. The problem is growing, and it's not the homeless people's fault much of the time.
They vote for politicians who engage in culture wars versus attending to legislative matters that affect their constituents. I feel bad but this is what happens when people want to “own” the opposing party.
@@catrinacrystallina Spot on. If we didn't have 2 million people coming to the US illegally this year, there would be 2 million more beds for actual US citizens that are homeless or about to become homeless.
Why didn't they buy a hm yrs ago????....Yrs ago my father begged me to buy a hm and to stop renting....I listened and we bought a hm in 2009, it's now paid off, I'm 56 yrs old......PS-i wasn't rich nor did I have a ton of money, I wked as an admin....
Before landlords starting price gouging renting was a good option for people that didn't want to or couldn't do yard work. Renting was a good choice for older people.
The only thing you can do is move to a more affordable area. Coastal areas are impossible housing (and every other cost) wise now. I live in CA a and seeing the ocean once in a while isn’t worth the stress of the housing costs. Think smaller towns inland if you’re a senior.
It's going to come to the point the government is going to have to price set rental costs. A senior isn't supposed to pay more than 30% of their income for rent. It's a sacrilege that these older folks are struggling so horribly after working their entire life to keep this nation going, producing the next generation, teaching, nursing, scientists.
Why didn’t they prepare for this time in their lives? You can work for 60 years and still not prepare. It’s up to YOU to be ready for this time in your life. No one to blame but yourself
@Lynne Simpson What you're calling greed is good old fashioned cutthroat capitalism and if you don't like that you're communist. That is what every Republican will tell you publicly and every Democrat agrees with privately because they are all making money off of it.
This is why my mom lives with my husband and I because she could never afford to live anywhere decent on her own. I won’t have her living in any place that is decrepit or dangerous instead she will live with us .
I used to pay 700 for a 1/1 in Jax Florida 2016 now it’s 1800. We have had over 300K New York residents move here since the pandemic and that’s not even counting all the Californians etc. People voted for stupid Governor’s, mayors and senators then left and caused this problem in other states. And although people here say it’s happening all over the country yes that’s true, but not at this pace and not at the wage disparity we have.
Tiny Home and Container Home communities can help solve this problem. Allowing homeowners to place Tiny Homes and Container Homes in their backyards (as low priced rentals-or to rent space in their backyards) can also help. The problem is the push back from local government.
What retirement savings? Women earn less than men their entire lives, take years off work to raise kids, and often never recover financially from that one thing - their prime earning years spent raising kids. I have worked my ENTIRE life from the age of 15 and I'm now in my late 50s and I STILL live paycheck to paycheck.
@@curtandoscar Every women I have worked with made more money then I. I entered the work force in the mid 90's. With this women empowerment, I am the only male in my department and I am the only one at my level that does not have a VP title. I work two jobs so I can take a vacation (or it would go to my retirement). My wife is a trust fund baby and watches TV all day. She says it good for me to work 🙄 she doesn't have to pay for her healthcare.
This is the same situation in other states as well. It is not better, moving out of Florida to Tennessee would be cheaper, but I don't know how much better, albeit the prices are less, but who knows if they will go up, as well. Ms. B. Churchill
Many people purchased homes that they could not afford and people used their homes as piggy banks borrowing against the equity. This crisis has been in the making for years.
many do not have family to rely on because they are so horrible and drive them away. Old people are supper entitled feeling, living in absolute luxury and not working lol. They worked their whole life and still messed up lol. They had an amazing economy most of their life, screw them, I care more about immigrants than these liabilities and spoiled old woman.
I'm 66, own my house. Throughout my life I saw others renting so the they could spend money on more fun things than the struggle the first years of owning. Or buying condos with maint fees so others do the work. Now all those years of choosing that lifestyle they're learning rents and fees go up. There are almost 2x more people on the Earth than when I was born. That's 2x the number of people competing for popular areas. And today all the young generations are doing the same, even more so. Renting instead of buying. And we'll feel sorry for them when they're 70+ and are surprised when their rent goes up. It is sad, but it's also how the world works. We compete for resources. There are many very cheap places to live in the US. Thousands of homes that can be bought for $1k and with $15k work be made livable. But people don't want to live there. They want popular areas.
Same here, I'm a retired single mom hairdresser. We had every opportunity decades ago to buy and pay off an affordable house. It was easy to qualify for, too. Why are these women renting? They've had their whole lives to prepare for retirement, own a paid off house and be worry free. I bought my home and several homes as rentals doing haircuts and perms with just a high school education. What did these women do with their 47 years as adults between ages 18 and 65? I don't get it. It's harder for young people today, housing development was stagnant for the past 15 years. Still, do what you got to do to prepare early for an easier life when work is no longer an option and the body gets slower.
I absolutely agree. I’m 34 and saving for a home. ONE child. I will be buying in less than 2yrs. I’m frugal and a minimalist who doesn’t live off credit because I refuse to be 50 and homeless or renting! Ppl need to make better decisions. Especially with a dual income they should own a home by 40 at least!
It's very insensitive to assume that these women just sabotaged their life because they did not choose to buy in their youth...you don't know what life has handed them
I was a single mother for like 9 years. A bizarre malicious deliberate act a judge reversed the child custody. So the past 22 years I owe child support. Even though all children are 30s. And they don't receive a cent. The abuser gets all deductions. I've tried on limited funds to get this eliminated but the judge refuses. I'm almost 60* no retirement, no savings. Acts like this are bizarre. I'm supposed to get 10% of his retirement.but doubt it. The whole system is bizarre. I can't get a passport to leave the country. Bc of this C's. Debt. It's bizarreo.
It's not just Florida; and it's not just Seniors. The cost of housing has skyrocketed! Face it, everything has skyrocketed from basic needs like food, electric, and even pet food for those of us that might have a cat or dog. In Florida the issue is 'rising seas', I watched several documentaries on how the 'rich' who have typically chosen to live along the coast are now moving 'inland' because the coast line is changing with the rising seas, and that means they are now looking at land that these Senior living communities dwell on. So of course, they are jacking up the HOA's to force seniors and low income out.
Back in the day, when I purchased my first home to live-in; that was Florida 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.
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.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance Long story short, its been 2years now and I’ve gained over $860k following guidance from my investment adviser.
Interesting Antonio. I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.
Actually, I've shuffled through a few advisors in the past, and “ Margaret Johnson Arndt” remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.
Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, wrote her an email outlining my objectives. Thanks for sharing.
That's so sad! Have they thought about moving to another state where rent prices are way lower! I live in fort worth, Texas and my monthly, rent with no utilities is $715.00!
@@marykunkle7223 Lots of affordable places exist, but the never ending line of boomers flocking to Florida is kicking other boomers to the curb. There's only so much real estate near the beach and it goes to the highest bidder. Keep Florida free.
Had a friend who was like a second mother to me. She told me a long time ago to buy a small, simple house and get it paid for by the time I was 50. She said don’t fall for getting bigger and fancier houses because it is very hard to pay a mortgage or rent on social security. I’m 55 now, and have lived in my little house since I was 22. Sure, I would love a bigger, nicer house. Who wouldn’t? But I sure don’t want a huge mortgage when I’m 70!
The little old woman that lived in a shoe... Is YOU!
Best to do that and stay in your tiny home then be on the streets. Sending hugs.
It was my mother who told me I needed to buy a house. I found one the next day on the next block and with my mother's help I paid cash for it. I've lived in my little house for 30 years and have no desire whatsoever to move to a different house. By the way, last summer I was offered 23 times what I paid for it. Nope. I love it here.
My wife and myself looked at MANY small houses when looking to purchase but HMMMMMMMMMMM all the boomers that owned the houses before absolutely left them in shambles. We were forced to buy a home FAR outside of what we wanted simply because we needed a move in ready home that didn't need repairs. Boomer homeowners ruined the market Hard-core.
@@bmanagement4657 Those mean old boomers.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living
That’s why i enjoy my day to day market decisions being guided by a portfolio-coach, 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/ analvsis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over 400k
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Exactly why I'm betting on that , go against the housing mkt!?!?!
bet they all voted Demo
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up " Margaret Johnson Arndt” because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.
Your pount is spont on. Thanks for your thorough explanation of the housing crisis.
This isn't just a Florida problem, but across the country this is happening to seniors.
I’ve heard 1/2 the homeless in San Francisco are over 50
Even in Massachussets.
Your right. I think the differences in Florida is that in the near future, the state could eventually run out of room to spread out, which will make the housing crisis much worse than it is now. Places like New York, Southern California and San Francisco can’t grow much, because there’s basically no more room to spread out. Only way is to continue to build up.
Raleigh NC homeless is going up.
You not alone it's happening across Canada too an average one bedroom apartment is 1600 a month an average house starts at 500,000 So messed up! A young person can't own a house because it's so expensive and retired person is on a fix income payments that is less the apartment rent. I know Canada will be going to a recession mid year 2023. 😑
Many, seniors like me are living in RV parks to survive and those rental rates went sky-high last year. Now we have seniors living at Walmart in their vehicles. It's disgusting to see people who were hard workers, owned their homes, and had some money in the bank end up like this.
That's what we did before we decided to move out of the country. Fulltime RVing is much more expensive than it appears at first glance.
Agree, stop voting for Republicans, they want to take your benefits away too!
I overdose if I have to live like that
So then why are we letting 30,000 ppl in the country every month if there’s a housing shortage?
@@CN45475 easy answer. We have an economy that is built upon endless growth. The native birthrate is flat. To get new consumers you have to import them. The powers that be don’t care if that displaces you.
Ironically seniors moving to Florida are pricing out the seniors that moved to Florida before them.
HA...I think you're right.
Exactly. Plenty of NYC and California seniors with plenty of money are just replacing them.
Wrong!!!! Mass ILLEGAL migration is doing it . GTFOH
@@SmokyOle I know!!! Sad.... 😞
not just seniors moving to Florida, all the people from NY, CA etc moving there, when you have too many people chasing too few housing, prices jump up and retired seniors get hurt by having their places skyrocket in price.
This is why there are more homeless in America. Rents are too high utilities are too high and food is too high.
actually i find history to be helpful because from studying history i learn that for most of human existence majority of people lived in poverty. and what we've experienced at least since post ww2 up until 2000 was a blip on the radar as that was a unsual period of time where peoples sandard of living was well above normal compared to historical norms.
Food is off the charts!!
I am retiring to South America. No more USA for me.
Randymillhouse, I'm with you. I'm leaving too.
@@randymillhouse791 go now...bye
Anyone who tells you that renting as a senior is a good idea is flat wrong. Renting puts you at the mercy of the landlord every 12 months. While owning property you may have to deal with HOA fees, in 3 years ( since 2020) my condo HOA fees have gone up $60. But in the same three years my old apartment has gone up $⁷00 a month. Renting as a retired person may have been desirable a decade or more ago but it certainly isn't now and this is why.
renting only makes sense if and only if the rents can be guaranteed to not raise for years or decades. (price control) other than that you're right. it's like getting a house with a variable fixed rate loan.. a recipe for disaster
Taxes which raises plus house insurance etc etc
@@yeeshatraveller True, that’s why I only own what I can afford in maintenance fee (including taxes). A small 1-bedroom for 2 people.
@@yeeshatraveller if you can’t afford your property taxes there is no way you could afford rent
The issue here is all of these women are single. You have options, you A) get a roommate which one of them had but she didnt like it. Or B) you sucker some dumb schmuck like the guy who died but now she is back to option A.
The problem, for these women is that most men are kind of done with this stuff. But the consequences to the market when instead of having two people in one place, you have 2 people in 2 places, well then you run into shortages.
But you are right, renting is dumb for those who retire. The sad truth is most of these women wouldnt be able to upkeep a house the way it needs and it would quickly fall into disrepair and then you would have them spending money hand over fist to fix things.
You really have to wonder where their families are though.
I am a senior who lives in Orlando. Worked there my entire life and retired there. Florida has always been not that kind to the natives. Low wages and since the early seventies high cost of living. It has got to the point you can be working full time and live out of your car. I see it all around me in my town. Plenty of grandmas living in the bushes . If I did not own my own home out right and had family here I would move out of state. Even though I could pay the outrages rents I refuse to do so. Plenty of other places actually more desirable and cheaper. As long as people keep electing the same politicians to power the system is not changing. It will favor the rich at the expense of the working class. Plenty of seniors voted for the people who brought this trouble to them.
I completely agree, they vote blindly and it is at the sacrifice of their own well being.
Unfortunately its not just Florida. The homeless problem in the western us is disastrous. California has the worst but is increased all over the west
Totally agree. People believe the fake news and propaganda they see on TV and are convinced they should vote conservative. Either they don't vote at all or they vote to benefit the grifters, the millionaires and even billionaires. The workers have paid taxes all their lives, while many of the rich pay zero tax. Trump is only 1 example of many. If all the Trumps, Bezos, Musk etc paid at least 20% income tax the situation would be totally different. Unfortunately in these MSM times it will probably only get worse. The rich can afford to fill media with their lies, while regular workers are ashamed for not being able to retire with dignity.
@@josephaugello1527 It's going up in Raleigh NC and all the homeless shelters are full.
If you live somewhere and can't afford it, leave. Not difficult to understand that.
Wow….that’s terrible. More Seniors that have houses should help other seniors. I have a very large house and rent rooms to others. Reason being is that I don’t want to be alone, and I got 2 renters that help me out. It’s a win- win for all of us. I also don’t charge them an arm or a leg either. Nice house, safe area, good people. They help me and I help them.
I guess it is hard to do so when capitalism is in people’ minds. Perhaps, promoting the need to live in community rather than isolated might help.
This just makes my stomach hurt. I never want anyone, least of all our elders, facing housing insecurity. I hope they get the help they need. 💛🧡
Hope? Hoping wont get anyone anywhere.
It's a systemic problem. Happening all over the world, which is why we're seeing more multigenerational homes since both young people and elders can't afford housing alone.
A DAMN SHAME.
@@deirdremorris9234 good point! Understanding the root causes, collective planning and action goes a lot further.
@@homedoghappiness I grew up in multigen home, as well as many other friends of mine in the 70s. Nursing homes were a last resort. Daycare? That was grandma and auntie, or the neighbor. Again, last resort.
Why????
It's what they voted for....who does the GOP voter elect again? The people who want a social safety net or the ones who want to take that away.....oh, NOW they need that net??? 🤣😂🤣😂
Reaping exactly what they sowed for DECADES now they don't like that crop????
Well, BOOTSTRAPS!!!
Part of this goes back to the start of the 401K, and the elimination of pension plans. With Florida it’s compounded with higher demand for seniors and higher maintenance costs for owners due to much greater insurance costs. Call it a perfect storm.
Yeah.., it's pretty shitty, because Society by design..., knows older people aren't hired, nor are they in demand as much as younger and fresh workers. Because they used to receive Pensions, they used to just draw their normal salary at retirement. Thing is: 401K's, are little more, than bank accounts, where people just spend them down to nothing, and so they end up 'One the Skids' after just a few short years.. Yes, well said.
TRUTH
This is so truth. 401k do not last long in retirement. I working for my pension and benefits. I have 2 other retirement plans at my job. I contribute $400 a month on top of my pension. And I have an investment account. Just got a CD at the bank that pays dividends. Just trying to make sure I make it in retirement
Welp, those who are seniors today, voted for these policies yesterday. The only person to blame is the one in the mirror.
@@MsGenXodus Politicians can't help with rents. These are market forces. Trying to manipulate the market just makes it worse for everyone over time. What politicians could do is clamp down on immigration. Two million new immigrants into the country every year is going to put a lot of pressure on the housing market.
These ladies need to team up and find a place together. It's not perfect, but it's one solution.
Ala golden girls 🙂
@@whosaidthat4299 Dammit! You beat me to it! 🤣🤣
Anyway, they should stock up the cheesecake if they're gonna live together.
Think I’d move to a cheaper state to live. The problems the same in Texas..overwhelmed by new people drives up the home prices, and locals are forced to leave. Tragic for pensioners.
@@MeadowDay Pensioners and people on fixed income as well. There's always a very long waiting list for affordable housing and not everyone qualifies.
With what money?
"The true measure of any society can be found in how it treats its most vulnerable members." - Mahatma Ghandi
Yes
This is why America is a HORRIFIC society inside and out, it's the devil's playground. We don't care for any of our vulnerable members down to animals.
It's directly related to who you vote for.
@@Suzi277 Right and Floridians have elected Scott (Ran a company convicted of largest Medicare fraud in history) who wrote a bill to privatize Medicare and SSI.
True quote!
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This is happening all over the U.S. 😔
the rich are coming for your SSI. class war. capitalism is fascism. sucker born every minute
Yes but the red states are always the worst!!
@@tamiamaral617 capitalism is the worst. America deserves to fall
But florida has a much higher population of seniors than most states
It’s happening everywhere, not just USA
Dark times are really ahead of us. This is heartbreaking and a wake up call
They didn't prepare for retirement.
Dark times are already here, I've met quite a few seniors living in their cars
@@eckankar7756 don't you dare deflect the blame on them! It's not their fault at all.
@@duancoviero9759 You are delusional. Retirees had 47 years of adulthood from ages 18 to 65 years old. In nearly 5 decades of being an adult there was ample opportunity to better themselves, educate themselves, get better jobs, invest, save, buy a home when it was easy to qualify for and afford. My sister has been on disability since she was 23 and has a home paid off.
Old age/retirement/becoming elderly doesn't just surprise you, we all KNOW it's coming if we don't die early. 401K accounts, savings accounts, home ownership have been around for ages. No excuse to not be prepared for being a senior except for failing to participate in their own wellbeing.
@@duancoviero9759 People don't go to bed 20 years old then wake up 65. It's DECADES of adult life to get to that age. They had DECADES to save, advance in their careers, invest, buy a very affordable home and have it paid off. Seniors today had EVERY opportunity to buy a home, houses were never cheaper or easier to qualify for than they were 20-40 years ago. BUT...so many didn't even bother to prepare for old age.
My house payment in 2000 was $325. a month. It's paid off, now my taxes and insurance are $117 a month. I'm so glad I prepared to retire when I was young. Many of my friends did, too. But so many my age didn't even bother to take the time to prepare. It's the old story of the Grasshopper and the Ants.
We deserve it. We are selfish and stupid plus we are cowards for not doing anything about it. Politicians do not fear us at all
Yes, especially the Republicans who don't care if older people die of COVID or want to cut taxes on the rich even more. And should I mention the House GOP wants to hold the debt ceiling hostage, threatening the US and world economy?
And they should
THANK YOU!!
I agree.
Sitting in comfort and telling people in this crisis they "deserve it"? GO AWAY. 🖕
8 years ago I and brother moved into a 55+ community in Palm Beach County. It was affordable.
Our owner sold his place and were blessed to find another lovely 2/1 to rent quite affordable.
But over the last 3 years, places that one could manage financially are becoming out of reach. I still work full time at 72 and meet so many desperate to find a place they can afford.
That what I am doing living in 55 plus rental community in Key Largo, Florida. I sold the boat and house. I paid mortgages for 38 years. No more property taxes, no more hurricane insurance, no new roof just to get insurance. Had air conditioners break brand new in 11 months. 2 kids gone to college all own homes now finally free. Rental in Key Largo is $2500 if it go to $3000 i move to Ft lauderdale. There is 200 of them 55 plus communities. I am a realtor so can find the great rents,
Thank DeSantis for that!
This is happening here in NC to just regular folks too. There are plenty of empty houses in the market for rent but they are unaffordable for many. The media and state leaders continue to say there is a housing shortage but that’s a lie. Everyone can’t meet make 3x’s rent, good credit, and their no evictions requirements. Many families here in NC are homeless, not because lack of housing but because of higher rental costs and unreasonable requirements. My family and I lived in a house for almost 10 years and we found ourselves living in an extended stay. Only by God’s grace and blessings were we able to find an apartment. We should all march for affordable housing cause it has gotten ridicules when our elders and children are having to deal with the disaster that greedy people have created.
If you keep depending on God's grace, then prepare for disappointment. What is an extended stay? Did you actually PAY RENT for TEN YEARS?!?! That's insane! Ten years ago houses were CHEAP!! Why didn't you BUY ONE then?? You'd have equity, a cheap mortgage and a house that you are paying down!! You paid all that money in rent (I assume it was rent) and now you have nothing to show for it. Rentals have their short term place, but ten years is a waste of money!
So true.
Okay, not everyone is able to buy, so let’s look at the real issue. Greed and policies that keep the poor under the power of the rich. I said it once and I will say it again. Just because you own your home you truly do not own it. If you fall behind in taxes you are subject to foreclosure. So, stop this you should have bought gimmick! And blaming migration this is the reason why citizens are being treated like this. They know we only blame each other rather facing the elephant in the room.
Hi John. First, an extended stay is a hotel that offers a place away from home as long as you need it. The hotels are set up like small studio apartments. You also have access to washers/dryers and can even have your mail sent there. There are many homeless families who live there but anyone can stay there. Prices depend on the size of the rooms. Next, I don’t own my own house because when I applied to buy that very home almost 10 yrs. ago, the bank told me that unfortunately my income didn’t qualify me but I don’t feel like I wasted my money because during the time I spent there, my husband and I were able to finish raising our children and seeing them off to college. Yeah, I would had rather been able to own it because as a foster kid I don’t have any wealth of my own and I would love to pass down something of value to my children. Lastly, I have learned that when one depends on men, one is bound to be disappointed but when I depend on the Lord of heaven and earth, he has gotten me and my family through situations that nor men nor money could move. He’s the rock on which I stand, my fortress, and protection. Being a Christian doesn’t mean that all your days well be perfect but it does guarantee your salvation and God’s protective hand through the storms.
agreed. When a mortgage should cost 800-1200 for a 200k home, but instead the home is sitting empty for rent, at a price of 1800-2000 is insane.
This is so heartbreaking, but it is what I am also facing. I am not a senior (yet) but I am disabled (chronic pain disorder) and was abandoned by my husband when it was clear that I wasn’t going to get better. After having to move multiple times and the last straw was getting beat up by my boyfriend, I asked my mom if I could move in with her. I feel terrible about intruding on her life, but I really don’t know what else I can afford. Section 8 housing is so hard to find. Thank you for reading my comment! ✌🏼💖
Wish you the best 🙏
I hope things get better. It's a blessing your mom was able to take you in. We all need to be concerned about housing as one never knows...
My husband walked out on me, too, when it was clear my disability was permanent. He left me with two of our children still living at home and unfortunately, they had to take care of me through 13 surgeries and push my wheelchair to school parent-teacher conferences. It caused me to have PTSD and major depressive disorder. That was ten years ago and I still struggle with it. Now, I’m truly blessed that my oldest daughter took me in when I got evicted two months ago, but I lost everything. All I could take was my personal belongings cause I had to move out of state. I never dreamed my life would end up like this.
I understand exactly how you feel.
I am 62 and live in section 8. I have a nice apartment in Illinois. It is so sad to see these older ladies struggling. I am seeing more and more women in their 70s having to live in their cars! Its humiliating and demeaning for them!
This is the result of the corrupt gov't removing God from schools & breaking up the family unit by indoctrinating women into feminism in those godless gov't schools.
Not just in America either, the same thing is happening in Australia right now too.
That is a shame!
@@Thyalwaysseek , Thank you for sharing that--I think it's important for everyone to know. We all can get tunnel vision sometimes and think "it's just me," or it's just my city/state/country." There is something absolutely diabolical going on and I think we (America) started it-I am talking about greed and the love of money over ALL else. It's absolutely evil what is being allowed to happen to the elderly, single people, young people---all of us!
I live in Illinois, too, and I’m 63. I’ve been on Section 8 waiting list for more than 8 years. How did you get it?
As a retired senior in CA I feel very lucky. Against my accountant's advice, I paid off my home 30 years ago and have lived mortgage free ever since. I receive government assistance that takes care of my food and medical bills, and SS covers the rest, more or less. I took a chance on deciding my financial future all those years ago, and have never regretted it. Love my little community and my house, and know how fortunate I am.
YOU did it right!! My dad did a similar thing. He actually built his house in 1974, and it was VERY INEXPENSIVE! He worked in construction which was going gang busters at the time. Where most people were spending their money on crap, he was paying down his house. He paid it off in 1979. He is still living in it today. Yes, he's remodeled it a couplie of times, made improvements, built a garage and storage and such but as far as he is concerned it is a MANSION!! Today he is 77 and has money falling out of his ears!
I too managed to pay off TWO homes over my life time. I am 57, gonna retire in two years. One way I managed to pay off two homes was to invest in real estate back in 2011. I purchased a home in Phoenix. It TPIPLED in value in 7 years, I sold it and used that money to pay off my house. I had some money left over, so I invested in another depressed market which doubled in value in 5 years. Sold those too!
Yep. People told me that paying off my home didn't make any sense since inflation is going up faster than my loan was at 4%. That was a couple years ago when inflation was starting to climb and the stock market was going higher. I told these people that I didn't need to own a single stock in order to survive. I also told them that I didn't want to gamble with my house money. I'd rather pay off the house and gamble with investment money later. Fast forward to today, I don't regret paying off my home one bit. The stock market is down and I don't care. I am using what would have been my mortgage payment, and putting into the stock market and picking up some good stocks for cheap.
Okay, goody goody what if you fall behind in taxes?
Please it’s 2023 so let’s not get crazy. 1970’s
@@autumsoul23you sound salty. Why would anyone who was responsible enough to pay off a home fall behind?
This is really sad but as bad as it is, it will get worse. It might be a good idea for seniors to start sharing homes in order to share the expenses, for those who have the extra bedroom(s) anyway. Not what any of us want to do but it would be better than living on the street or in a car. Shelter over our heads, a bathroom for hygiene and food to eat are more than many seniors have. I think the way the country is going, this will be the answer for many families. I know a lot of seniors that have to live with their children now and a lot of grown adults with children that have had to move in with their parents again. Not the life we dreamed of living but we might have to consider these things going forward.
The Lost Generation (Out Great-Great Grandparents) commonly lived together in multigenerational houses even their Adult children stayed in the 1900s, 10s, and 20s.
A bunch of seniors living together is not a bad thing. Some of my friends and I have discussed doing this later in life when spouses have passed. Aside from economic issues there is safety to worry about. Plus you don't get lonely when you live with people. Think of it as a sorority house for oldies.
Yes that sounds like a good solution. Will combat loneliness too and can share cooking responsibilities etc..hard to give up our precious possessions but much better than losing everything and being homeless.
@@FacheChanteDeux your own version of Golden Girls
@@vickster4474 exactly! My mom has already passed and I was her only child. This was my biggest fear for her. I'm not happy she's gone, though I'm relieved she's not facing this in the future. Not a night I could sleep if my mom was homeless. I'd at least put her in a hotel or to a friend's house. Glad it worked out. Shame family is like this. 😪
It's definitely heartbreaking that people work all their lives to retire after so many years of work to end up almost homeless or homeless.
Who’s fault is that? They didn’t prepare. Ss is NOT supposed to be lived on and you get back what you put in. So if you made 30k a year you get less back, you should know you can’t live on that. Also, when you were younger and divorced your husband for no good reason, or had kids out of wedlock you screwed yourself.
People do not like to own up to their own mistakes in life.
The most important thing they should be focusing on is their health, and their wealth.
They shoulda been investing in something since they were young in their 20s.
I could only WISH I had the opportunity to be alive 50 years ago, man there was so much more supply in real estate, an way less demand.
Hell even if you invested in the stock market 50 years ago, you’d be making out great.
I gotta feeling these women never thought about personal finance and surely didn’t think about investing extra money instead of buying extra consumer items.
It’s a shame, but it’s a mistake I don’t plan on making.
Our seniors have absolutely SCREWED the youth by collecting so damn much in SS, it’s hard to feel sorry for ppl that don’t try to learn a diff way of doing things
@@dcg590 You're stating logic in a world gone communist. It all started with FDR. He destroyed the family with this b.s. communism. Now everyone is on here virtue signaling, showing how "wonderful" they are.
Everyone waiting for the "govt" to do something.
@@MG-fn9xw Do you live in Florida? Then if not, you need to shut the hell up!
The lack of state rules and guidelines let the real estate market turn into a casino... so unfair to people who just want to live.
If ur an American - you'll be living in the street. They caused the problems - and they don't care!!!!
State rules and guidelines gives you China.
@@johannesswillery7855 No. State rules and guidelines give you a civilized society where the needs of the population are more important than corporate profits. When your bony old arse is on the concrete you may come to that realization.
@@johannesswillery7855 I agree throw them all out to the streets.
@@johannesswillery7855 Not having state rules and guidelines gives you Somalia.
It's happening all over. I am with you ladies. Rents are through the roof. I'm living with roommates because it's the only way to make ends meet. God Bless.
I am 59 and live alone which is a blessing.
Stop voting for Ron DeSantis
People used to be able to depend on their families and extended families for assistance. Parents and their working adult children could purchase a larger home together and share expenses. Many cultures share living arrangements.
Not everybody is a parent.
Not everybody want's their kids around when they are grown.
My mother helped me pay cash for a house and then she and eventually my brother spent the rest of their lives living happily in my house. It was perfect.
Many families don't get along and can't cooperate enough to have both sides benefit from that arrangement.
@@montyjackson8156 That's often the parents' expectations for their kids to leave the nest. In reality that's not always the case.
Housing needs to be taken off the hands of short-term rentals such as Airbnb, corporations licking their lips and turning each house to rental properties and people with more properties than fingers on their hands... Unless this is done and I mean done yesterday we will unfortunately see more people homeless or rent trapped for life and suffering from mental and physical health problems.
This was always a growing issue but cheap money leading up to covid, large amounts of stimulus during covid and continuous tax incentives for investors has made the situation far worse.
Corporations and governments like to push the agenda that there are not enough houses being built but someone please explain why the house prices went bananas during the pandemic when population growth was at a standstill...
Issue is housing should not be an investment plain and simple but unfortunately the greedy like to add to their piles of wealth at the expense of the rest.
Government is now trying to tame this with interest rates rises but unfortunately all this is doing is pay my mortgage landlord's passing on the bill to renters. Communities and families are being destroyed in the process.
And - the same people caused all these problems.
It's called American Capitalism.
You are exactly right. These vacation rentals have replaced annual rentals. It's all about profit regardless of destroying a neighborhood.
@@montyjackson8156 what's the alternative? Communism takes away any freedom of choice since the government controls every part of your life. As hard as it is in America, people are waking up to realize that this is part of the elitists agenda. When you look at how they are destroying our energy sector, bankrupting our country and allowing millions to enter our country, this is by design.
@@ja1505 I call that BullSh--t.
Horrific. I cannot handle seniors being treated like this. We can send TRILLIONS of dollars to other countries yet we can't help our seniors/children/veterans/anyone. It's horrible.
Its the same everywhere. Canadian currently in Germany. In Canada a refugee family will get 2.5X what a seniors would get that have paid into CPP their entire lives. In Germany its the same. Someone coming from the Ukraine often gets an apartment and more $$ than someone who worked for 45 years and paid into the system. Its great to help others, but you should look after your own first.
actually 'we' can but 'we' won't; there is an agenda at play
That’s because starting with the republicans, we have become a throwaway generation. We gave our lives, our talent, our money and now they just want us gone. The United States is not the great country I grew up in 80 years ago. No one who could do anything or help seems to care. But I would give the time I have left if it would help my fellow seniors.
@@georgemiller6765 Isn't it ironic this is happening now, with Biden in place. Hmmm, this is what happens when you vote for people who print trillions of dollars in 2 years, go to war in Ukraine, and allow millions of illegal immigrants into the country who have no money and no where to live.
@@georgemiller6765 They keep voting against their own economic interests and then whine about it. Republicans have announced their plans to eliminate social security, yet most Florida retirees think DeSantis is the Second Coming.
Remember Golden Girls? Older people, especially older women, need to SHARE the same household!
They lived in a million dollar mansion.
Well, that would be my plan if it ever came to that. In America you’d better work as long as you can and have side hustles or no matter who or what you do the odds are against us. This is the land of the ultra rich and the ultra poor. The middle class will soon be no more.
The Golden Girls was a FICTIONAL, scripted TV show with most of the women in their 50s, not in their 70s. How naive do you have to be to believe that real life is mirrored in scripted TV shows?
@@jillcnc Wake up, this is the new normal. People gonna HAVE to do that.
@@Lisa-mp7ig They gave everyone stimulus money to buy tents
I am 63 so this video is getting to my soul. I always said we need "ole people communes' where we can care for each other and be a real community.
Y’all really need to rethink Florida. For multiple reasons.
I'm a senior, but young people are going thru the very same thing without at least being able to depend on a social security income. Most are only a couple of paychecks away from homeless....and many have children. Does the govt care? No.
That's why I don't waste my time voting for anyone because they all refuse to lower taxes lower rent we need free health care that covers stuff we need cheap housing too if Russia can do it why can't the united States of America
Should the government care? Dont the tax payers who haven’t messed up their lives pay for enough? So tired of the sob stories. Take care of yourself and stop expecting someone else to save you.
@@dcg590 I actually said I didn't need saving. I'm fine financially. But, I do realize it's hard for young people to get ahead when their pay doesn't cover the inflation. Many are too immature to budget & many have nothing TO budget with. It's all kinda sad.
I'd love to see someone create a tiny/small house village for single older women 65+. It would be that hard to do & I think most would enjoy the company.
Do it. Be the change you want. But that wont be what these women want. They will consider it demeaning.
@@worndown8280 Wow, I think you total misread their grief. These women look like the type of women that helped people all their life, they never expected to be in the same situation. The difference is now there's nobody to help them.
Young families would be incredibly wise to invite these people into their house to help with tasks in exchange for a room and board. It would be a win-win situation for both the families and the women. There's a lot of wisdom in those years but they'd also need to remember not to push the same stress and daily pressures on to them but rather pick up on the nuances of a past time.
@@c.m.303 No, I just know women.
@@worndown8280 Your comments say more than you realize about yourself.
@@c.m.303 You liking your own comment says more about you. lol
Ask yourself WHY this is happening. Shame on developers for not building affordable housing because they’re more interested in raking in profits. Shame on the government for allowing corporations to buy up housing and not putting protections in for people in our society. We’re always the one who end up paying for greedy people, corporations, and institutions that don’t give back to humanity. Shame on every single person who has contributed to this result. This is going to get worse and our social welfare system does not have the capacity nor resources to help everyone (because a certain sector of our government doesn’t believe in investing in human beings and choose profits over people). Disgusting.
This is absolutely heartbreaking to see what’s happening to good, honest, hard working people.
Shame on the men who wont save these poor women by marrying them... you forgot that one.
@@worndown8280 Are you seriously so lonely that you are going to go around and harass each commenter? Go find a hobby.
@@c.m.303 one might ask you that?
That's New Testament stuff. My parents built affordable housing in a barrio in the seventies. But developers aren't "New Testament" types: they're usually OLD Testament types.
@@worndown8280 Yawn, stop trying to gaslight people and go take a nap.
I am fortunate as a senior to have subsidized housing in a seniors building. I was on a list for about 13 months, living in rented rooms until I got this place! I feel terrible for all the people who can’t find affordable housing!❤🇨🇦
I really feel for them. I too am a senior and grateful a US Army Veteran. They are the ones that helped me get on my feet. I was homeless but not now. The woman that considered it welfare should not. She needs help to defray the cost of this housing crunch. Even Section 8 is having a hard time finding places for Seniors let alone everyone else on that list.
I don't feel anything, they are getting what they voted for.....they just thought the GOP wouldn't do it to them. Now, they are getting all they DESERVE.
In Georgia we have more approved housing vouchers than we have units available. The vouchers expire while people sit on waiting lists.
She thought that she was too good to ever need "welfare" ... but life circumstances have humbled her. Perhaps she can vote in favor of the Democratic social policies...since she now benefits from them.
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I can really feel for these ladies. It’s awful out there. Greed has taken over and it’s going to ruin peoples lives. So all these 1/1 that are over $2000 shame on you. Nobody should have a rent increase that high. Not a senior, not a college student not a family should have to live like this. Florida is the worst state when it comes to its people anyway.
yea, well try WA state, same problem here, high rent prices, high housing prices
@@geebrewer8186 it's nationwide. No one state is any better off
Greed is not quite the right descriptor as to WHY this is occurring. it's ENGINEERED DEMOLITION..
YET PEOPLE KEEP RUNNING down there ... and with it being in a flood zone I for one don’t understand it ! But this housing CRISIS is happening seems like most EVERYWHERE !
Agree.
Florida is growing at a massive rate . Quickly becoming a victim of its own success . And It's putting a severe strain on the Middle Class and the Poor . To the point many may have no choice but to consider leaving the State for somewhere less expensive . Rents are going to do nothing but go higher everywhere in Florida as the Influx shows no signs of abating anytime soon .
Growing? You mean falling into the ocean at an increasing rate, right?
Bro and a 1 bd now will run you $1500/mo. That is ridiculous. Rent has double and tripled in FL in the last 5 years
840 square foot condo purchase in 2020 cost me 100k. Today that same purchase will bring you $215k and they can't keep them on the shelf. People are desperate for affordable housing and it's actually now considered affordable housing. So people snatch them as fast as they go on the market.
@@consumerdebtchitchat I live in Canada and the Chinese completely destroyed our housing market. I live in Markham, Ontario but I'm white. The same condo here would sell for right around a million dollars and would have sold for around 1.25 millions about 10 and a half months ago. We don't make very much more money here. Out west in British Columbia homes are a lot more and people earn a lot less.
I live in Tulsa, OK and for years I've heard people saying "you need to move to Florida"! I saw this coming years ago and decided to stay in boring Tulsa so I could afford a nice trip every once in a while. This is no different than the crazy real estate prices in California. If you feel you have to live in those popular areas, then you best have a real big retirement fund, because those areas are going to absolutely fleece you of everything you own. Time to get practical and live in areas that are affordable.
Sorry grandma dont always think you have to live alone. As a grandchild if my grandma ever lived like this I would tell her to live with me. I wouldn't mind her watching the great grand kids. She wouldn't even have to pay rent.
some people have pride and want to maintain their independence.
They may not have children or grandchildren or if they do, they may not have space.
she may not want to watch kids as a condition for her to stay. could she still stay?
Some people don't have children or grandchildren who don't have the space or even the willingness to take them in.
@@edwardmiessner6502 Years ago, I took in a homeless woman who got $700 disability because of a broken back. She had a daughter with a bunch of kids who said she didn't have room for her mother who was "sleeping" outside. I put "sleeping" in quotes because it's too dangerous for women to actually sleep outdoors.. Once the daughter realized that her mother had $700 of money every month that she wasn't spending, she took her mother in.
This is reality in America!
Welcome to the Democratic Party.
@@eradicator187 If the Democrats hadn't passed Social Security, Medicare, food stamps, and Medicaid, these old ladies would be living in the street. Before Social Security and Medicare, old people in America SUFFERED.
@@eradicator187 ??? Florida is run by a republican legislature who would rather fight Mickey Mouse, teachers and the cruise industry than do anything to help with actual needs.
@@eradicator187 Do not be ignorant, it has nothing to do with what party you belong too.
It is time to end immigration and take care of the American citizens
We just need to concern over where we are coming from, bad days are just so terrible, where are you from
My heart goes out to them. I work in the industry, seeing seniors struggling. Can’t afford their home, taxes. Insurance is a big challenge too.
Heartbreaking!
Tried to help a homeless elderly man who was down on his luck.
He passed away in the street!
🙏🙏🙏
Usually it's not the absence of luck that puts people in that situation.
@@eckankar7756 Yeah, exactly. Usually it's because of predatory capitalism.
@Lynne Simpson Absolutely they do. My parents spent every dime they made and they were my best teachers. As a little girl I swore not to be like them. As a hairdresser I bought a house and 5 rental properties that I will leave to my kids and grandkids to make their lives easier. People are rarely victims, we just eventually suffer or enjoy the consequences of our decisions and actions.
@@eckankar7756 I am sure you had help along the way. I know what hairdressers make in general and it is not a secure job. Most hairdressers work on commission so their income varies and they have to pay their own taxes and social security. I don't believe you accomplished all that as a hairdresser without a husband or financial help
@@ja1505 Ok. I get nothing having your belief. I bought a house dirt cheap, was for sale for half price if I bought it a year before construction. One of my clients, a real estate agent/investore told me about it. She was buying multiple units. The house was $27K. It was completed in 2 years, they were selling for $54K. The day I walked in to my new house I had 50% equity, used that as collateral and bought another one which I rented, my tenants paid my mortgage. I had only closing costs to pay on the second house. I did that again as I built equity in my first two houses. I had 2 room mates which paid all my mortgage on my first house, I lived for free, owned two homes paid for by tenants/roommates. Rinse and Repeat. the many books I read taught me how to do that. My hair client walked me through it.
If you want something you enroll help. A professional, expert, books, whatever it takes. It's not about how much I made, it's what I did with what I made. Naysayers as you don't get it at all. There is a whole universe full of support if people will seek it out...but they'd rather shake their heads at people that have done it.
It's gonna get worse and it will affect every single one of us. So have some compassion
It sure will get worse especially because of what Biden did to the border and how that impacts wages but hey that's what the morons voted for.
and it will affect every single one of us It will not affect every single one of us, many people have planned well for their older years.
@@rcas350pilot8 If you want to make God laugh, tell Him your plans. You have nothing without Him. Amen?
That's true.
@@rcas350pilot8 That's true, but my concern is that we also have plenty of things that could result in major crises in the coming decades (climate change, wars, AI, etc.). Any of these things, as well as many that aren't even on the public radar yet could throw off people's plans.
And, at the very least, COVID has taught us that our governments are ill-equipped to handle difficult situations.
Black women please pay attention: This segment is about 3 single white women who are on the verge of homelessness. We make less than they do. It is important to have a retirement account, emergency fund, stuff happens fund and own property. The first one was okay until her husband passed. 67 percent of black women are single. We can no longer be the economy. We must save save and save some more.
I agree. I think about retirement a lot. Black women need more financial literacy.
Everything isn't about race.
@@dianebrady6784When it comes to economics it is.
I agree 💯 with your comment. There are a few 20 and 30 something year olds with UA-cam channels.....and their channels encourage people to live a basic life with NO ambition to do better and achieve success. I frown on these channels because minorities are already struggling but to encourage lack of ambition or no ambition at all is simply pathetic. Wait until those 20 and 30 year olds reach their late 40s and 50s with absolutely nothing to show for it 🤷♀️
@@dianebrady6784 Yes, yes it is.
This is why we moved to Ecuador. The cost structure here is much more retiree friendly than that in the United States, plus the year round warm weather is wonderful.
Ecuador is way too Hot 🥵
@@princessunicorn669 actually it isn’t. Here in Manta the temp is 75-85F year round. No hurricanes. In Cuenca, up in the Andes it’s 60-70F year round. Because we’re at the equator there is very little variation in the weather.
I was in the Army for 22 years as an enlisted soldier and my wife stayed at home to take care of our finances as well as the kids. We were not rich but we were comfortable since we were frugal. We bought our house in 2005, a 4 bedroom, 2 baths, 1800 sq. Ft. living area for $165K in Pensacola, Fl and put at least 25% down payment the year I retired from the Army. We had a 30-yr loan mortgage but we paid the house in full in 12 years. I chose a place where I didn’t have a HOA so no HOA fees, and far from the water so I don’t have a high property insurance. Now my wife and I are living comfortably, because we have no debts. You have to prepare and live within your means if you want to own your house.
I once lived in a resort town and watched its activity. There was always a boom and bust cycle and it was taken for granted - until it disappeared. We ran out of developable land so now everything just keeps going up and up. Florida is similar except it is a state that has used up enough developable land to where the costs will just escalate without end.
Overpopulation causes many problems, but it's taboo to point that out.
@@jthomas3773 Back in the early 1970s overpopulation was a real concern and rock bands would talk about it in their songs. Now when you hear songs like "So You Won’t Have to Die" by Grand Funk Railroad they sound really dated. Especially since the population is more than double than it was then.
@@drwisdom1 If one mentions overpopulation on social media, you get ganged up on and told to kill yourself.
@@drwisdom1 Re: G. Funk: Yes, dated, not because of the overpopulation message but all the jesussing and such.
This is why I left Naples Florida in 2019 for Europe and I have never looked back. Good luck.
I asked my successful 36 year-old adult son an interesting question: If I become old and feeble, with dwindling resources, would he help me out- take me in- if I became destitute? His answer was truly sobering: For a couple of months, I could live in his driveway if I had an RV. I'm 63 now, and this surprising answer tells me I don't dare retire until I have no choice, as I now know what lies ahead of me if times grow hard.
My daughter want me to sell the house and move in with her not going to happen
thats a terrible son u have there,i have been taking care of my mom for 7 years now,she has alzeheimers and lupus and my son helps me take care of her,i hope ur sons attitude changes one day
Children tend to treat their parents the way their parents treated them as kids. No way will my mother ever be allowed to live with me.
@@rebeccaa2433 I'm sorry to hear that. My son and I have always had an excellent and mutually respectful relationship.
@@dianereynolds2761 Me too, thanks! :)
A lot of people in the comments blame the elderly, saying that they should have bought homes. But home ownership is not for everybody. I had a profession that required a lot of work each week beyond "official" working hours. I tracked my hours and I found I was working 70 hours per week. I'm not very handy. My siblings warned me that the upkeep on a home is time-consuming and expensive. I had to change locations several times in my profession. For me, it made much more sense to rent. I lived in Miami in a simple, clean, no-frills apartment in a safe area. For years rent would not rise at all. One time they raised it $50/month. The manager came to each of us apologizing. Who could have predicted that between 2020-2022, rents would rise $700-$1500/month for a small one-bedroom? This makes it extremely difficult to qualify for leases now--you must earn three times the monthly rent in income. I've had apartment complexes tell me that post-pandemic, they will NOT even allow you to pay the year's rent a year in advance. So, you could qualify for apartments easily on a fixed income just a few years ago when rents were $700/month. Now, at even a low $1500/month, you are suddenly priced out, through zero fault of your own. You could have significant savings from living a very frugal life, as I did even as a highly educated professional, (no car, no furniture, no vacations, no eating out etc.) but that doesn't count as INCOME. They want the income now. Apartment complexes are sprouting up all over Florida, but they are "luxury" units catering to affluent migrants from Blue States. If you are a senior Floridian on a fixed income, you can't qualify for leases in these places. The older complexes, where seniors have lived for a decade or more, know this. So they jack up their prices, citing "market value" due to the expensive new complexes just built around them. Eventually seniors get driven out of these places, which were very reasonably priced for decades. So, what many commenters are saying is that Florida now is only for affluent transplants. "We NY-NJ-Cali people messed up our states. Now we want YOUR state. So get out and stop whining!" Florida very quickly went from an affordable paradise to California Prices, Alabama Wages, with a NY-NJ Accent. Well, now all of you Tech Bros, Finance Bros, and Blue State Bros have Florida. You'll soon find out that you've ruined it just like you ruined your states. Thanks Bros.
Blame the real estate giants who are buying up everything to turn into cash machines. The bosses of those businesses are not interested in who CAN'T pay the rent, only those who can. Rents are going up all over America and soon there will be nowhere cheap enough for the low waged to live.
This is just heartbreaking. We must take care of our elders!
They didn't mind when they were taking house's from locals when they moved here. Just a bunch of nyc hypocrisy.
@@Fla5thgenTryMe lacking empathy much??
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.
@@nyreggie-isb23 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@maryelvis3172 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
Wow I'm a bit perplexed you guys are discussing about Gary Mason Brooks , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
We youngsters are doomed !!
Yes, yes you are. Become a digital nomad in South America. Earn USD and pay S.A. low prices. It is the only way out now.
Non ne Vous despere pas la vie CONTINUE. Il faut être MANUEL oui MANUEL de nos JOURS
Yes, doomed to live with your parents,,,,,,,,,,,if you're lucky.
Nah, I just got a promotion and great job in NYC, I work in trade.
+David- *GAME OVER!*
I'm starting to near those days, and thought that as I approached the last phase of my life I would be able to move to a place like Florida. But it turns out despite having saved enough to purchase a house only a couple years ago, at the moment it's only enough to cover some dirt. It's disgusting how fast the prices shot past affordability. In fact, I've been looking now to just try to find a piece of land so I can open it up for several RVs. Basically the same for the reason as in this video. I can't afford a house any more but I imagine that there are other people in the situation that may want to do find an RV and do some gardening. It's a more simple life, but i really don't want to be part of what's happening. The shocker is, in not sure i can even air some land a basic RV connections.
Stay away from RVs... THOSE people are being forced into homelessness too.
Move to Mexico, Panama the people are nicer too
@@gerritwillemvankeulen3907 Tempting, but I don't speak the language, or no anyone there, and have some complicated health issues. But I do still consider that idea!
@@thebastardgift I imagine I have had one years ago and the expense to repair it was crazy. Didn't matter what they were working on they'd add an extra zero at the end.
@@c.m.303, landowners of mobile parks are raising their rents and additional fees plus utilities are going up and when none of these payments are in your control and housing takes the lion share of your money per the math this is not a safe avenue for someone retiring AND keep in mind this land is being sold to investors who are evicting people in mass numbers to make way for new development. Florida's population is too heavily saturated, and housing will only increase. On UA-cam, check-out The Sea Lofts condos...
They should vote for politicians who are willing to deal with the things that actually affect them instead of getting whipped into a frenzy over drag queens.
So you don’t care what public school children are being exposed to or told, typically without parental consent?
@@katydid2877 no, because I talk to and parent my kids. If something I dislike gets brought up in class via their classmates (most common), we discuss it and set them straight. Bunch of lazy parents who don’t want to be bothered with raising their kids. It’s cool y’all don’t have to worry about teachers saying gay but have fun making housing/rent payments.
@@katydid2877 I raised two kids a and watched 3 grandkids going through school. They never never saw a drag Queen in school. Quit being so gullible. The whole culture war thing is a distraction while the very rich keep robbing you.
@@catrinacrystallina The bill didn’t say anything about “gay”. Parents shouldn’t have to reprogram their kids at home after public school exposes them to something they don’t approve of. Teachers used to say they didn’t have time to cover all academics. That’s OK. They have smaller classrooms now with declining enrollment.
@@katydid2877 reprogram? Yeah as I said. Lazy parents who don’t want to put in the work of raising their kids or have discussions with them about what they’re learning in school. Let UA-cam and Xbox raise them instead. How great for them.
Would love to know the entire story of how these ladies are in the financial positions they are in.
A fixed income doesnt allow you to pay more dues or rent period! Americans have been priced out so they are tapped out. 69,000 homeless just in LA, millions on the streets, 3.9 babies born last year and millions coming here for a better life. Good luck to us all sir
@@tinahunter8453 The millions coming here for a better life will take the first job they are offered and within months will be self-supporting taxpayers. It's the American citizens who couldn't hack it for whatever reason who are nearly impossible to help. We still need to try, but it involves a lot of banging your head on a wall.
@@kerrynight3271 Ya well see, many will work under the table and not pay a dime. Just becuz their old doesnt mean they dont contribute.... taxes,food,electric,ect.
The blonde spends a lot on hair, nails etc. The widow rather live on credit cards than apply for section 8 or other programs for seniors like HUD. The other lady probably doing the same. They don't know how to manage $$ . Live on a budget within their means. It's not easy but it helps.
@@tinahunter8453 Newcomers will work under the table until they are legally allowed to work, then they will take a legal job. Many employers are desperate for good workers or any workers at all. Who should they hire if Americans refuse the jobs? And as for old people contributing, I'm 70. Of course we contribute.
I couldn't find affordable housing in Providence,Rhode island at all! I was able to get my current apartment in a month, in Fort Worth,Texas.
RI been expensive tho 😖
The Rhode Island rednecks.
Smart move Nancy. in 5 to 10 years Texas will be the next Florida.
Several women should try living together as roommates. It’s just as important not to be alone as it is to share expenses. Better to purchase property together if possible (even if it’s small to have some security).
The way the housing market is right now? Not to mention one lady in the video screwed up her credit by maxing out her credit cards just to get by. Many of them are on a fixed income. There's no way a single bank would give them a mortgage.
Blame corporate America, greedy and destructive corporate America.
So you want the Govt to provide you with a house 🏠
Don’t forget to blame greedy people as well. They moved to Florida 20 years ago and bought a home for 89K. Now they want to sell the same home for 459K! Talk about greed from those rich old people.
@@texasboy5117 Would you sell your house for less than what it's worth ?
@@texasboy5117 It deosn't matter when they bought it or how much they paid for it. They are simply asking for market value. There is nothing greedy or wrong with that. Grow up!! It's the REAL world, kiddo!!!!
When you read those articles "Renting is better than buying", this is how it ends
The Florida housing crisis is strange, because buying or renting a home, a condo, or an apartment is getting to be unaffordable except for the rich! And you have to have homeowners' insurance which is going through the roof, as are property taxes due to inflated house prices, making *keeping* a house that one had bought on mortgage, and sometimes with 100% cash down, unaffordable too. It's ridiculous, which is but one reason why I'll never move there again!
Not to go on a tangeant but some of these state legislatures have passed laws to criminalize the homeless and keep people from helping or feeding them. In LA, they are giving tickets to people for sleeping in their cars.
and it seems so many places in Florida have an HOA on top of all the other expenses. I was looking a a real nice condo and then I looked at the HOA which was $1200 a month. Yikes! So, even if you paid cash for a condo you would have that plus electric, taxes, insurance etc etc.
@@slothbros7607 so move to Kansas and lower your costs
The greed marches on. I am in the same situation.
I bought my first house at age 29. I was told always own, never rent. Now, in my seventies I live in a gated community where my house costs $166 per month which are home owner fees that include water, trash and common area maintenance. Thats it! I took the advice given me decades ago and at the end of my life it has paid off. I'm sorry about the people in Florida getting hit with rent increases.
You used your brain, you planned. These people were on cruises & eating out every night and borrowing to pay for everything. I lived that life until almost 40 years old. I woke up and became very frugal. Now I'm over 60, still working but accumulated $ millions in assets. And I make less that $100K/year. I own an apartment in Florida. My lovely mom lives well there.
@@victorblock3421 Tell me about your name, "Block." Common name but might have some relation to my daughter in Michigan.
Crowd funded 65+ apartments? Group of seniors get together band together ❤ 💕 it's all we can do
Like a Co-opt, that is a good idea. Though you have to understand in today's climate you are going up against well-funded Wall Street hedge funds for any property that you might want to buy.
@@duancoviero9759 I got 20 acres for 219k in 2020. If they don't get picky about area they could build generational stability to retire in.
@@duancoviero9759What’s a co-opt? Is that rent control?
@@politicallyincorrectcow8514 but they are picky. it's part of their mental block
When you make bad choices when you are young or financially able to live they come back and bite you in the butt later. I remember watching a CBS 60 minutes show many years ago when they met a young lady on the street and asked if she was saving for a rainy day. Her answer was curtly said no, if it rains I will just get wet.
This video makes this problem look like it only impacts elderly woman. It definitely impacts elderly men also. I found it cruel for anyone to say they can't understand how these people are in this situation. I ask those thoughtless bores what the hell America are you living in. The cost of housing is through the roof. These people are elderly on fixed incomes. They can't be expected to suddenly get a high paying job to cover the greedy high COL.
The problem is, they didn’t prepare. They don’t have savings that should have been accumulating since they were young. Fixed income should be more than ss. It’s your fault if you have no money and worked for 65 years. Choices have consequences. You have to be responsible
@@dcg590 I doubt your an older person. However your a very uncaring sounding person and that's your business. Seriously I don't know what planet your living on.
If you think the cost of an apartment is just wait till you see the cost of a nursing home. My mom pays $11000 per month.
There goes the inheritance down the nursing home and medical tube.
After my brother and I witnessed that with our Mom we got trusts.
@@Gary65437 Well. hopefully there will be something left but it ain't looking good.
@@katydid2877 What do they do?
@@crand20033 I know, it's very painful to watch nursing homes, doctors and hospitals suck up all they can before one passes away. Many old women that are left fairly wealthy like to spend their days in luxury senior apt communities spending $4,000+ per mo. What a waste of a lifetime working and savings.
If you are reading this, know that you are worthy of anything you desire. Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest.
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.
@@nyreggie-isb23 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@bjoe631 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe....?
Wow I'm a bit perplexed you guys are discussing about Gary Mason Brooks , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
@Peter Moore Yes i do, I've known him for couple of years, I'm still using his services, His management team is quite impressive so far. With my $15,000 deposit, I made over $288,000 profit with just 10% charge.
I recently moved from North Carolina, to Florida, I was on the waiting list for four years for housing for Florida, that subsidize housing I live in now, I don’t have a choice because disability doesn’t pay much, I’m blind, I have multiple brain aneurysms, loss of hearing, and of course Blind. But I patiently waited, and the Lord provided. May God bless all of you who are looking for housing. In the town where I lived in North Carolina since I couldn’t drive it was very difficult to get around town, only to go to the doctor and to the grocery store that’s it, I couldn’t go anywhere else, because there was no transportation
I'm glad you finally found something.
How'd you type this?
The only fix is for the system to totally break-but between greedy landlords, bought politicians, and an apathetic general public the system will just continue and more seniors will end up like this.
Hmmm, I thought Trump broke the system.
Seniors are voters. Never blame landlords for rent increases, they are just the middle man who has to pay the real greedy ones.
When corporations, hedge funds, Wall Street, BlackRock and BlackStone started buying up all those single-family homes and apartment buildings across America around 2009-10-11-12 and renting them out at HIGH rents ----- that's where the problems started. Families and individuals didn't have a chance to purchase these homes/apartment buildings - because these people paid CASH!!!! The money is in the hands of the elite - making middle class/poor destitute. And - it's getting worse.
i bet some of these seniors have also voted against welfare programs, did you hear that lady that had to sign up for section 8? at long last this group is finally feeling the consequences of their voting, maybe now something will change
@@choco1490 Something will change. They will be HOMELESS!
This morning I saw an article in our local small town rag that said reservations would be necessary if a party wants to secure one of the pagodas (beach front) for more than three hours. The reason is because the homeless have started using the facilities and picnic benches as their second home. They are taking up the picnic areas, and discouraging people from using them. This town is one of the most desirable areas in which to own property. Quaint shops, restaurants, activities for kids, skateboard park, volleyball and many city buildings for activities. But the homeless will go where they feel safe, and touristy places often offer a way to stay fed and comfortable. The problem is growing, and it's not the homeless people's fault much of the time.
Why treat our older people like this ..
Lack of empathy
CAPITALISM AND GREED
Gentrification
They vote for politicians who engage in culture wars versus attending to legislative matters that affect their constituents. I feel bad but this is what happens when people want to “own” the opposing party.
@@catrinacrystallina Spot on. If we didn't have 2 million people coming to the US illegally this year, there would be 2 million more beds for actual US citizens that are homeless or about to become homeless.
Why didn't they buy a hm yrs ago????....Yrs ago my father begged me to buy a hm and to stop renting....I listened and we bought a hm in 2009, it's now paid off, I'm 56 yrs old......PS-i wasn't rich nor did I have a ton of money, I wked as an admin....
The housing market at their prime was so cheap. They really dropped the bag,
@Momma Bear I totally agree, but I hope I'll be dead by then...
@Momma Bear ok????
Before landlords starting price gouging renting was a good option for people that didn't want to or couldn't do yard work. Renting was a good choice for older people.
One lady said HOA and maintenance fees are too high.
The only thing you can do is move to a more affordable area. Coastal areas are impossible housing (and every other cost) wise now. I live in CA a and seeing the ocean once in a while isn’t worth the stress of the housing costs. Think smaller towns inland if you’re a senior.
It’s not just in Florida it’s everywhere😔
Actually, it's not in Nebraska. There are still some pretty good affordable real estate/rentals in the small towns. The Good Life is still Good!
It's going to come to the point the government is going to have to price set rental costs. A senior isn't supposed to pay more than 30% of their income for rent. It's a sacrilege that these older folks are struggling so horribly after working their entire life to keep this nation going, producing the next generation, teaching, nursing, scientists.
Why didn’t they prepare for this time in their lives? You can work for 60 years and still not prepare. It’s up to YOU to be ready for this time in your life. No one to blame but yourself
Well Republicans say government providing senior housing is “socialism” and the governor of Florida agrees.
@Lynne Simpson What you're calling greed is good old fashioned cutthroat capitalism and if you don't like that you're communist. That is what every Republican will tell you publicly and every Democrat agrees with privately because they are all making money off of it.
This is why my mom lives with my husband and I because she could never afford to live anywhere decent on her own. I won’t have her living in any place that is decrepit or dangerous instead she will live with us .
That’s how it’s supposed to be! Families intact, not looking for handouts from tax payers
@@dcg590 yes I agree
Gosh I wish there was a way to match up some of these senior ladies who have similar interests, to share an apartment and expenses.
I used to pay 700 for a 1/1 in Jax Florida 2016 now it’s 1800. We have had over 300K New York residents move here since the pandemic and that’s not even counting all the Californians etc. People voted for stupid Governor’s, mayors and senators then left and caused this problem in other states. And although people here say it’s happening all over the country yes that’s true, but not at this pace and not at the wage disparity we have.
Californians Rule! Floridians Drool 🤤 once I finish moving over there to Jax they will give you the Boot lol 😆
Tiny Home and Container Home communities can help solve this problem. Allowing homeowners to place Tiny Homes and Container Homes in their backyards (as low priced rentals-or to rent space in their backyards) can also help. The problem is the push back from local government.
The problem is people defecating where they shouldn't and using heroin.
It’s not just renting as a senior sadly, but as a working person I have had to move from Florida.
That makes sense.
go where you will grow.
Not a single mention of "what happened to your retirement savings?"
What retirement savings? Women earn less than men their entire lives, take years off work to raise kids, and often never recover financially from that one thing - their prime earning years spent raising kids. I have worked my ENTIRE life from the age of 15 and I'm now in my late 50s and I STILL live paycheck to paycheck.
@@curtandoscar Every women I have worked with made more money then I. I entered the work force in the mid 90's. With this women empowerment, I am the only male in my department and I am the only one at my level that does not have a VP title. I work two jobs so I can take a vacation (or it would go to my retirement). My wife is a trust fund baby and watches TV all day. She says it good for me to work 🙄 she doesn't have to pay for her healthcare.
+airbourne2- They never HAD any!
@@curtandoscar And catfood!
You are an awful person
I RETIRED IN THE PHILLIPINES MY 2 BDR APT NEAR THE BEACH 150 MONTH
I BANK 50% OF MY RETIREMENT AFTER FOOD N EXPENSES MONTHLY
This is the same situation in other states as well. It is not better, moving out of Florida to Tennessee would be cheaper, but I don't know how much better, albeit the prices are less, but who knows if they will go up, as well.
Ms. B. Churchill
This breaks my heart.
Many people purchased homes that they could not afford and people used their homes as piggy banks borrowing against the equity. This crisis has been in the making for years.
the number one cause of bankruptcy is medical debt. We have no way of knowing what happened in these women's lives that led to this.
@@curtandoscar Will they need to work the corner to pay off cc debt, or move? Time will tell... That 69 yo living in a 30yo's bathroom...
@@curtandoscar I wish they would have told us why they were unable to buy a house when they were younger.
I hope they have family to assist them during this most difficult time. Life isn't fair, but we have to roll with the punches.
many do not have family to rely on because they are so horrible and drive them away. Old people are supper entitled feeling, living in absolute luxury and not working lol. They worked their whole life and still messed up lol. They had an amazing economy most of their life, screw them, I care more about immigrants than these liabilities and spoiled old woman.
My condo fees in West Palm Beach just went up $400 a month -insurance for the Building went up 68%.
Thank you DeSatan.
I'm 66, own my house. Throughout my life I saw others renting so the they could spend money on more fun things than the struggle the first years of owning. Or buying condos with maint fees so others do the work. Now all those years of choosing that lifestyle they're learning rents and fees go up. There are almost 2x more people on the Earth than when I was born. That's 2x the number of people competing for popular areas.
And today all the young generations are doing the same, even more so. Renting instead of buying.
And we'll feel sorry for them when they're 70+ and are surprised when their rent goes up. It is sad, but it's also how the world works. We compete for resources. There are many very cheap places to live in the US. Thousands of homes that can be bought for $1k and with $15k work be made livable. But people don't want to live there. They want popular areas.
Same here, I'm a retired single mom hairdresser. We had every opportunity decades ago to buy and pay off an affordable house. It was easy to qualify for, too. Why are these women renting? They've had their whole lives to prepare for retirement, own a paid off house and be worry free. I bought my home and several homes as rentals doing haircuts and perms with just a high school education. What did these women do with their 47 years as adults between ages 18 and 65? I don't get it.
It's harder for young people today, housing development was stagnant for the past 15 years. Still, do what you got to do to prepare early for an easier life when work is no longer an option and the body gets slower.
fail to plan plan to fail.
I absolutely agree. I’m 34 and saving for a home. ONE child. I will be buying in less than 2yrs. I’m frugal and a minimalist who doesn’t live off credit because I refuse to be 50 and homeless or renting! Ppl need to make better decisions. Especially with a dual income they should own a home by 40 at least!
@@sayyadinawitch Perfectly said!!!!
It's very insensitive to assume that these women just sabotaged their life because they did not choose to buy in their youth...you don't know what life has handed them
I was a single mother for like 9 years. A bizarre malicious deliberate act a judge reversed the child custody. So the past 22 years I owe child support. Even though all children are 30s. And they don't receive a cent. The abuser gets all deductions. I've tried on limited funds to get this eliminated but the judge refuses. I'm almost 60* no retirement, no savings. Acts like this are bizarre. I'm supposed to get 10% of his retirement.but doubt it. The whole system is bizarre. I can't get a passport to leave the country. Bc of this C's. Debt. It's bizarreo.
Now you know how the men have felt all these years.
GOOD LUCK TO THOSE SENIOR CITIZENS! HAPPY HOUSE HUNTING TO THEM.I HOPE NONE OF THEM END UP GETTING EVICTED!😰😥😪😪😭😭😭😭😭😭😪😥😥😥😰😰😢😞😞😞😞
It's not just Florida; and it's not just Seniors. The cost of housing has skyrocketed! Face it, everything has skyrocketed from basic needs like food, electric, and even pet food for those of us that might have a cat or dog. In Florida the issue is 'rising seas', I watched several documentaries on how the 'rich' who have typically chosen to live along the coast are now moving 'inland' because the coast line is changing with the rising seas, and that means they are now looking at land that these Senior living communities dwell on. So of course, they are jacking up the HOA's to force seniors and low income out.
Back in the day, when I purchased my first home to live-in; that was Florida 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.
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.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance Long story short, its been 2years now and I’ve gained over $860k following guidance from my investment adviser.
Interesting Antonio. I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.
Actually, I've shuffled through a few advisors in the past, and “ Margaret Johnson Arndt” remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.
Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, wrote her an email outlining my objectives. Thanks for sharing.
That's so sad! Have they thought about moving to another state where rent prices are way lower! I live in fort worth, Texas and my monthly, rent with no utilities is $715.00!
No such place exists anymore
Move to Texas! Definitely possible...
Do you think it is free to move to another state?
Literally thats what FL used to say. Yall are next
@@marykunkle7223 Lots of affordable places exist, but the never ending line of boomers flocking to Florida is kicking other boomers to the curb. There's only so much real estate near the beach and it goes to the highest bidder. Keep Florida free.