Florida is a big State. Are the investors planning on buying every house in Florida? Florida is becoming unaffordable for middle income buyers and retirees. Will we see a 2008 year in Florida? What will the next 10 years of Hurricanes do to Floridas housing market?
If investors are out-bidding locals, then the investors are clearly over-paying. On the positive side, the investors are increasing the rental supply and, as supply goes up, rental rates go down. Investors are most likely remodeling these old homes, hiring local contractors, and pumping money into the local economy. Lastly, investor-owned properties don't get the benefits of Save Our Homes and Homestead, so they're paying very high property taxes, benefiting the city, county, and public schools.
Yup I’m in SoCal and I get a couple corporate letters a month offering to buy my 3300sf house for between 1.3-1.6. Frick those jackwagons I would never sell to them! Something’s wrong in this country when must-have healthcare and housing has become investor free for all. But we just saw people vote for this despite facts.
Wait, so you’re saying that we voted for this. When all of this happened during the current criminal administration. Reality check much? “We’ll see” if it gets better. But to ignore what has been happening is to be blinded by programming. All the best.
sorry but the current admin has supported this.. as a matter of fact ALL the people in government support it and always have. I have never seen any government entity do anything to make things better in the long run. Everyone was so happy to get stimulus checks.. and now that they are broke and inflation has skyrocketed as a result of it.. they want to blame someone. The government supports wall street, which is where this is rooted.
Firstly, congrats on your new addition to your family! Secondly, if one of these homes has a $4,000/yr flood policy, a $2500/yr regular ins policy, and lets say $3000/yr prop tax, thats a monthly carrying cost of almost $800! And we havent even cut the grass yet. If rents are $1300, we are talking a profit of $500/month or about $400 a month take home after the gov gets their share, and thats WITHOUT any mortgage whatsoever! If you parked that same $235k into a 3.75% CD right now, you would gross $735 a month, or roughly $600 after taxes.
Hi Ben. I am new to your channel. I really like it. I enjoy the places you walk through, the content you cover, as well as the fact you keep the editing to a minimum. Nice work. Thanks 😊 Congratulations on your new family member arrival
Great job Ben! Also, these local governments are cracking down on short term rentals which is forcing investors to either rent those properties long term or sell. And that 1% rule is nowhere near reality in Sarasota. You'd be lucky to get 3k per month on a 500k house here.
This has happened on Cape Cod also. One crazy idea was to give locals $6,000 a year toward housing. Covid ruined it because Boston yuppies can work from their summer home, squeezing out locals as prices soared. My 1970s pad got way more than it should have so I took my money and ran to Vermont where it is very economically depressed so real estate cheap but NO jobs or infrastructure. Now we are in Ocala.
@@jeaninekelly4271 Gotcha, you bought at just the right time. After 2020, prices went through the roof and haven’t started to come down yet. Everyone thinks that they own a goldmine.
I purchased my home in Stuart , for 89000 in 1989 in a pud . That house they say is now worth 589000 .. I sold it and moved to Vegas . Im constantly kicking myself in my tookas
Just as a point of interest, those are all the original houses built by General Development Corporation when Port Charlotte was originally plotted by them.
Oh my gosh Ben! Congrats on that new Son! Hope Momma and baby are well - I can see that proud Papa is just fine 😂 Welcome to your new life that will never be the same as a parent - the toughest job you will ever find yet the best job you will ever find. God Bless.
@bensellin of course bro. Fatherhood is amazing. You will be a great father! Make sure you remind your wife that the duties need to be shared! New mothers tend to want to do everything. I have 2 sons 9 and 12.
Florida just doesn’t make any sense anymore. Years ago it was an affordable place to live. The dumpy neighborhood you’re showing made sense when home were 40-50k. Back then Florida wages could support this type of lifestyle. However, wages/opportunities in Florida are still lagging way behind over state economies yet the housing prices are on par with those economies. Couple that with hurricanes, the astronomical insurance premiums and inflation-it’s makes “zero” sense to ever purchase something in Florida (unless you’re in a really good financial place). You can keep Florida!
Here's a real life scenario that happened in swfl. Homeowner: Why can't I get a plumber here for 2 weeks? Business owner: Ma'am I don't have anyone available in your area. Business owner says to me: none of my guys can afford to live in the area, so it's hard to get someone down there for work, and they don't want to sit in traffic for hours to get there. Moral of the story: you push the locals out, you push out the service industry too.
@@bensellin yes its a shame. The older generations that are retiring have already been settled in. Bought homes when they were still on the cheaper side. The newer generations cannot even make enough to afford these things. Even apts in those areas like Naples and Marco island. There are those that drive from ft myers and such to Naples. But that usually doesn't last long as they eventually find work closer to home and not have to sit on 75 going both ways for 2 hrs each way during peak season.
Where do the people work at that rent or own these houses? People making $10.00 to $20.00 an hour cannot afford these houses. You just asked my question. Who is the market for these houses? Buy a mobile home.
Good stuff Ben. I hope the powers-that-be wake up and move to protect middle class interests. Nowhere in the widening gap between the haves and the have-nots is the problem more evident than in real estate. Congratulations on your new-born son! As a father of four now grown children, here's one parental suggestion. Delay showing kids video screens of any kind, particularly phones, for as long as possible. It may give you a few extra peaceful moments, but the long term effect on kids is just not worth it. All the Best!
We hoped to put our PC home on the market In January. In just 3 weeks our realtor states our probable listing price has dropped almost $70 thousand dollars. We most likely cannot sell it now! Do you see the prices increasing in 2025?
That seems like a very large drop for a short period of time depending on the price point. Personally I do not foresee them going up for most of next year at least.
ben i need your help we live in a 3 story condo building the first floor is parking and two floors are living quarters are we considerd two stories in law by florida
Where do the people work at that rent or own these houses? People making $10.00 to $20.00 an hour cannot afford these houses. You just asked my question. Who is the market for these houses? Buy a mobile home.
Florida is a big State. Are the investors planning on buying every house in Florida?
Florida is becoming unaffordable for middle income buyers and retirees. Will we see a 2008 year in Florida?
What will the next 10 years of Hurricanes do to Floridas housing market?
Congratulations on becoming a father, may your family share much joy in this Holiday season.
Thank you and same to you and yours!
Great vidoe. Got rental in hastings paid for. Glad got out of sw Florida. Living the dream in Santa Marta Colombia block off the beach.
How is the crime there now?
Congratulations on the arrival of your little one!🎉
Wishing you and your family a joyful and healthy holiday season!
Hope to see you again in January!
Thank you Kelly! Looking forward to it!
If investors are out-bidding locals, then the investors are clearly over-paying. On the positive side, the investors are increasing the rental supply and, as supply goes up, rental rates go down. Investors are most likely remodeling these old homes, hiring local contractors, and pumping money into the local economy. Lastly, investor-owned properties don't get the benefits of Save Our Homes and Homestead, so they're paying very high property taxes, benefiting the city, county, and public schools.
Yup I’m in SoCal and I get a couple corporate letters a month offering to buy my 3300sf house for between 1.3-1.6. Frick those jackwagons I would never sell to them! Something’s wrong in this country when must-have healthcare and housing has become investor free for all. But we just saw people vote for this despite facts.
Wait, so you’re saying that we voted for this. When all of this happened during the current criminal administration. Reality check much? “We’ll see” if it gets better. But to ignore what has been happening is to be blinded by programming. All the best.
sorry but the current admin has supported this.. as a matter of fact ALL the people in government support it and always have. I have never seen any government entity do anything to make things better in the long run. Everyone was so happy to get stimulus checks.. and now that they are broke and inflation has skyrocketed as a result of it.. they want to blame someone. The government supports wall street, which is where this is rooted.
Congratulations Ben! Wishing you and your family all life’s best.
Thanks so much!
Congratulations on the baby, love to watch you🎉
Thank you so much for the support!
We are looking to move to Venice from Fort Lauderdale soon
@@Morninglory86 Give me a call when you are ready!
Congratulations Ben!!!
Great news !!!
Thank you!
Firstly, congrats on your new addition to your family! Secondly, if one of these homes has a $4,000/yr flood policy, a $2500/yr regular ins policy, and lets say $3000/yr prop tax, thats a monthly carrying cost of almost $800! And we havent even cut the grass yet. If rents are $1300, we are talking a profit of $500/month or about $400 a month take home after the gov gets their share, and thats WITHOUT any mortgage whatsoever! If you parked that same $235k into a 3.75% CD right now, you would gross $735 a month, or roughly $600 after taxes.
What a great idea. I should sell my crypto and do that.
Thank you! Yes you are absolutely correct.
@bensellin Congratulations on your new addition. Blessings to your son.
Would not walk after dark in that neighborhood. Those home prices are almost criminal.
What’s criminal is lenders writing mortgages for them @ those prices.
Hi Ben. I am new to your channel. I really like it. I enjoy the places you walk through, the content you cover, as well as the fact you keep the editing to a minimum. Nice work. Thanks 😊
Congratulations on your new family member arrival
Thank you! Glad to have you here and that you like the content.
Congrats Ben!! Wishing you and family the best. Rest up and enjoy the little things in life too. First child?
Thank you! Yes this is the first. What a ride!
If someone wants to come over to Cape Coral and buy my house I will gladly move.
Congratulations, on your new family addition.
May he have a long, happy life.
Thank you so much!
Great job Ben! Also, these local governments are cracking down on short term rentals which is forcing investors to either rent those properties long term or sell. And that 1% rule is nowhere near reality in Sarasota. You'd be lucky to get 3k per month on a 500k house here.
Thanks Ryan! The STR crackdown is long overdue!
Congratulations on your New Baby Boy! Right before Christmas what a blessing!! Thank you for the videos and content
Thank you so much!
That neighborhood looks pretty "modest".
Congratulations to you and your wife.👍👏👏
Thank you so much 😀
This has happened on Cape Cod also. One crazy idea was to give locals $6,000 a year toward housing. Covid ruined it because Boston yuppies can work from their summer home, squeezing out locals as prices soared. My 1970s pad got way more than it should have so I took my money and ran to Vermont where it is very economically depressed so real estate cheap but NO jobs or infrastructure. Now we are in Ocala.
I’m not to sure when you ran to in Vermont but, I can assure you that real estate is far from cheap. Way overpriced is the correct term.
@ We bought it back in 2017
@@jeaninekelly4271 Gotcha, you bought at just the right time. After 2020, prices went through the roof and haven’t started to come down yet. Everyone thinks that they own a goldmine.
$6,000 a year towards housing?!
@ yes it was an idea to offset housing costs for workforce/locals
Congratulations to you and your family!
Thank you!
I purchased my home in Stuart , for 89000 in 1989 in a pud .
That house they say is now worth 589000 .. I sold it and moved to Vegas . Im constantly kicking myself in my tookas
When did you sell it? I'm assuming soon after.
Just as a point of interest, those are all the original houses built by General Development Corporation when Port Charlotte was originally plotted by them.
True
Congratulations buddy!!
Thank you!
Very informative video. Thank you very much and congratulations!
Thank you!
Congratulations!! That is so wonderful!
Thank you so much!!
Congratulations on your new arrival! Best Christmas gift you can receive! (Now get some sleep while you can, lol!)
Lol I'll try thank you!
Congrats! 🎉
Thanks!
Congrats Dude!!!
Thanks!
Great to hear the real estate story.Not BS story.God bless. Thank y
Glad you enjoyed it
Congratulations on the baby boy!!
Thanks!
When do the forclosures start?
Some here and there right now
Congratulations!
Thank you!
I know that area. We used to play Golf at Port Charlotte Golf Club. Hurricane Ian sure messed up that area. Congratulations on your New Baby
Thanks!
Congrats on your new baby. I always enjoy your videos and learn
Thank you so much!
Congrats Ben.
Thank you!
Congrats Ben! 🎉
Thank you!
Congratulations!!!!!
God Bless your Son & your family!!!
Thank you so much!!
🎉congratulations on your first child..more motivation for you Ben!..
Thank you!!
Congratulations on the little realtor !! 👶
Oh my gosh Ben! Congrats on that new Son! Hope Momma and baby are well - I can see that proud Papa is just fine 😂 Welcome to your new life that will never be the same as a parent - the toughest job you will ever find yet the best job you will ever find. God Bless.
Thank you so much Mark! Yes we are very excited! 😁
Congratulations on the little one 👍🏾
Thank you!
@bensellin of course bro. Fatherhood is amazing. You will be a great father! Make sure you remind your wife that the duties need to be shared! New mothers tend to want to do everything. I have 2 sons 9 and 12.
Ben Congrats on your baby!!!! Made my day!!
Thank you!!
Congratulations on your son!!❤❤❤
Thank you!
Congrats on your son my man. Sending ❤ from North Port
Thank you!
Congratulations Ben and Mommy ❤
Thank you so much!
Congratulations on the little realtor !! 👶🏼
Thank you!!
Congrats!
Thanks!
Congrats on the baby!
Thank you!
Congratulations Ben a proud papa for sure
Thank you sir!
Florida just doesn’t make any sense anymore. Years ago it was an affordable place to live. The dumpy neighborhood you’re showing made sense when home were 40-50k. Back then Florida wages could support this type of lifestyle. However, wages/opportunities in Florida are still lagging way behind over state economies yet the housing prices are on par with those economies. Couple that with hurricanes, the astronomical insurance premiums and inflation-it’s makes “zero” sense to ever purchase something in Florida (unless you’re in a really good financial place). You can keep Florida!
Congratulations, dad
Thank you!
Thank you
US235,000, in a flood zone? Good luck with that. 50,000 maybe, as the house will have to be raised about 6ft @ 100,000.
This place looks just poor.
I’m in North Florida, Port Charlotte doesn’t know what poor looks like lol.
Every state, every county, and every city in America has a place that looks "just poor."
So shut up about it. Everyone is tired of negative remarks.
@@roadrunnergtx68 Yep, what I consider poor someone else will think somewhere else is more poor. You’re right folks need to chill out good call lol
The rent is too damn high!
Congrats on the young one!
Thank you!
Here's a real life scenario that happened in swfl.
Homeowner: Why can't I get a plumber here for 2 weeks?
Business owner: Ma'am I don't have anyone available in your area.
Business owner says to me: none of my guys can afford to live in the area, so it's hard to get someone down there for work, and they don't want to sit in traffic for hours to get there.
Moral of the story: you push the locals out, you push out the service industry too.
Tell me you have NO IDEA what plumbers make without telling me!
@geckster109 tell
Me you have no idea how much it costs to live in a certain area I'm talking about. Its not new york city momo
@@geckster109 new york rents and florida wages
Excellent point and I am seeing that more and more as well as the older generation retires there is no one coming up to take their place.
@@bensellin yes its a shame. The older generations that are retiring have already been settled in. Bought homes when they were still on the cheaper side. The newer generations cannot even make enough to afford these things. Even apts in those areas like Naples and Marco island. There are those that drive from ft myers and such to Naples. But that usually doesn't last long as they eventually find work closer to home and not have to sit on 75 going both ways for 2 hrs each way during peak season.
Where do the people work at that rent or own these houses?
People making $10.00 to $20.00 an hour cannot afford these houses.
You just asked my question. Who is the market for these houses?
Buy a mobile home.
Good stuff Ben. I hope the powers-that-be wake up and move to protect middle class interests. Nowhere in the widening gap between the haves and the have-nots is the problem more evident than in real estate. Congratulations on your new-born son! As a father of four now grown children, here's one parental suggestion. Delay showing kids video screens of any kind, particularly phones, for as long as possible. It may give you a few extra peaceful moments, but the long term effect on kids is just not worth it. All the Best!
Thanks Joe! Sound Advice. We're going to give it a try but I'm going to have to be a bit of a hypocrite as I'm on UA-cam LOL
We hoped to put our PC home on the market In January. In just 3 weeks our realtor states our probable listing price has dropped almost $70 thousand dollars. We most likely cannot sell it now! Do you see the prices increasing in 2025?
That seems like a very large drop for a short period of time depending on the price point. Personally I do not foresee them going up for most of next year at least.
Congratulations on your newborn! Wondering if you named him "Bill" as a reminder to everyone to "build up" their homes.
🤣 thank you!
im so happy for you and your wife
Thank you!
ben i need your help we live in a 3 story condo building the first floor is parking and two floors are living quarters are we considerd two stories in law by florida
@@markmcfarren1854 Hey Mark, That is open for interpretation unfortunately and I haven't found a clear answer myself.
@@bensellin thank you so much
Congratulations on the birth of your son 🩵! 2024 has been a wonderful year for you. Hoping 2025 continues to bless you & your family! 🎉❤
Thank you! You too!
That's a poor neighborhood.... I would not even drive through there, let alone live there...
Where have you been?
These homes are like 500 to 800 Sq ft. Dude, find another place to walk and talk.
Got to mix it up once in awhile
If you think 2024 was a wild ride !! 2025 will be much worse.
Strap in!
What shit neighborhood is all Port Charlotte like this
Congratulations!!
Thank you!!
Congratulations!
Thank you!
Where do the people work at that rent or own these houses?
People making $10.00 to $20.00 an hour cannot afford these houses.
You just asked my question. Who is the market for these houses?
Buy a mobile home.
Congratulations!!
Thank you!!