Florida's Real Estate Market: Investors in Crisis

[edjr 6,602]

 

Was inevitable. 

[Voltaire 5,317]

Fock the infestors. People that live here need to be able to afford housing.

[edjr 6,602]

1 minute ago, Voltaire said:

Fock the infestors. People that live here need to be able to afford housing.

People that bought the past 2 years are fooked.  They won't be able to refi if rates ever do drop, they will have no equity to do so. 

[BeachGuy23 642]

Good news.  Ol’ BG has been waiting to pick up a 2nd vacation place in the land of freedom.

 

[edjr 6,602]

32 minutes ago, BeachGuy23 said:

Good news.  Ok’ BG has been waiting to pick up a 2nd vacation place in the land of freedom.

 

my dumb in-laws moved from Maskachusetts to FLorida like a year ago. They bought at the worst possible time possible. House has lost 20% of what they paid and insurance/taxes more than doubled. 

[Voltaire 5,317]

2 hours ago, edjr said:

my dumb in-laws moved from Maskachusetts to FLorida like a year ago. They bought at the worst possible time possible. House has lost 20% of what they paid and insurance/taxes more than doubled. 

[nobody 2,687]

This seems over-dramatized.

[Cdub100 3,925]

I'm not a fan of HOAs even though I currently live in one.

But if I moved to Florida I would want an HOA. One that specifically blocks renting your home out.

 

[edjr 6,602]

3 minutes ago, Cdub100 said:

I'm not a fan of HOAs even though I currently live in one.

But if I moved to Florida I would want an HOA. One that specifically blocks renting your home out.

 

Mine was blocked when I bought. only for 2 years though

[Cdub100 3,925]

1 minute ago, edjr said:

Mine was blocked when I bought. only for 2 years though

I just can't imagine living next to a Airbnb house and trying to put my kids to bed but there's a party next door every evening 

[edjr 6,602]

Just now, Cdub100 said:

I just can't imagine living next to a Airbnb house and trying to put my kids to bed but there's a party next door every evening 

I am all out on AIR BNB, never used, never will. 

I am fine with renting on a lease (which I do)

[thegeneral 3,236]

Free market at work. 

[Cdub100 3,925]

Just now, edjr said:

I am all out on AIR BNB, never used, never will. 

I am fine with renting on a lease (which I do)

Yeah long-term renting is fine. Although I prefer owners 

[TimHauck 2,905]

This video is garbage.   It may be based in truth but we wouldn’t know it from the video, it’s just a bunch of vague claims and little data.  If @BeachGuy23 made this video @jerryskids would (rightfully) complain about it

[edjr 6,602]

1 minute ago, TimHauck said:

This video is garbage.   It may be based in truth but 

  As stated above. I have family that just moved there. 

[thegeneral 3,236]

I mean this is how it works…unless you are a huge financial institution that will bring down the global economy because of your bad investments…you take the good timing with the bad.

[TimHauck 2,905]

12 minutes ago, edjr said:

  As stated above. I have family that just moved there. 

Do you have a citation for “home prices in some cases have nosedived 40%?”  And by home prices, that means sale prices, not list prices.   TIA.

[TimHauck 2,905]

https://www.redfin.com/news/housing-market-tracker-april-2024/

Data in the bullets below came from a list of 85 U.S. metro areas with populations of at least 750,000. 

• Prices: Median sale prices rose most from a year earlier in Buffalo, NY (24.3%), Anaheim, CA (22.8%) and Rochester (15%). The fell in just five metros: San Antonio (-1.6%), Memphis, TN (-0.7%), Birmingham, AL (-0.7%), North Port, FL (-0.2%) and Austin, TX (-0.1%).

 

[BeachGuy23 642]

49 minutes ago, TimHauck said:

This video is garbage.   It may be based in truth but we wouldn’t know it from the video, it’s just a bunch of vague claims and little data.  If @BeachGuy23 made this video @jerryskids would (rightfully) complain about it

Oh Mr Semantics and Deflection would most definitely object.

The points made don't matter, just did the poster check all of Jerry's anal retentive boxes he only holds liberals to.  And for god sakes don't make a spelling mistake or the claws come out bigly!

SAD

[TimHauck 2,905]

5 hours ago, edjr said:

my dumb in-laws moved from Maskachusetts to FLorida like a year ago. They bought at the worst possible time possible. House has lost 20% of what they paid and insurance/taxes more than doubled. 

What town?  Sorry @Strike don’t accuse me of doxxing Ed’s in-laws

[BeachGuy23 642]

1 hour ago, edjr said:

I am all out on AIR BNB, never used, never will. 

I am fine with renting on a lease (which I do)

I use AirBnBs, etc all the time.  The last couple years I've spent 3+months and I don't want to think about how much money in them.  Such great value for the money especially when you bring the family along.  You need to be careful and read the reviews thoroughly and be prepared to peace out if something seems weird with the reviews that is counter to the places pics, etc.

[Strike 5,565]

6 minutes ago, TimHauck said:

What town?  Sorry @Strike don’t accuse me of doxxing Ed’s in-laws

No one wants to harm them, and if Ed provides that info it's voluntary you idiot.

[Hardcore troubadour 15,484]

5 hours ago, BeachGuy23 said:

Good news.  Ol’ BG has been waiting to pick up a 2nd vacation place in the land of freedom.

 

This guy hasn’t paid off his starter home and he’s talking about buying a vacation home.

[BeachGuy23 642]

11 minutes ago, Hardcore troubadour said:

This guy hasn’t paid off his starter home and he’s talking about buying a vacation home.

You think paying off a 3% note is good financial sense boyo?

You are legit an idiot.  And your jealousy of me is very cringe.

Post much less, spend more time with your kids absentee father.

[Hardcore troubadour 15,484]

14 minutes ago, BeachGuy23 said:

You think paying off a 3% note is good financial sense boyo?

You are legit an idiot.

You’re in your mid fifties. Your house couldn’t have cost that much unless you bought it a few years ago. Holy shitt. You were renting all that time? Wow. You continue to hit new lows. I haven’t paid rent since I was in my twenties. Highly educated! Titan of business ! Lol

[BeachGuy23 642]

Just now, Hardcore troubadour said:

You’re on your mid fifties. Your house couldn’t have cost that much unless you bought it a few years ago. Holy shitt. You were renting all that time? Wow. You continue to hit new lows. I haven’t paid rent since I was in my twenties. Highly educated! Titan if business ! Lol

Da phuk are you talking about?

Are you legit trying to prove how stupid you are absentee father?

WTF pays their 3% mortgage off early?

Oh, below average cops with zero accomplishments do.

Rent…lmfao

[Maximum Overkill 2,006]

Current Investors aren't in trouble with the housing market, those dumb enough to invest now are though. 

[Horseman 2,470]

Just now, BeachGuy23 said:

WTF pays their 3% mortgage off early?

People with so much cash they don't need to leverage.  How long you been paying on that mortgage Executive VP?  

[Hardcore troubadour 15,484]

5 minutes ago, BeachGuy23 said:

Da phuk are you talking about?

Are you legit trying to prove how stupid you are absentee father?

WTF pays their 3% mortgage off early?

Oh, below average cops with zero accomplishments do.

Rent…lmfao

No, the point is it should have been paid off by now. You’re in your mid fifties and it wasn’t an Expensive house. 

[Horseman 2,470]

1 minute ago, Hardcore troubadour said:

No, the point is it should have been paid off by now. You’re in your mid fifties and it wasn’t an Expensive house. 

Hey, he can't afford double payments and student loan payments!!!11!!!  He's just a senior/lead/supervisor analyst.  

[nobody 2,687]

7 minutes ago, BeachGuy23 said:

Da phuk are you talking about?

Are you legit trying to prove how stupid you are absentee father?

WTF pays their 3% mortgage off early?

Oh, below average cops with zero accomplishments do.

Rent…lmfao

At first, I thought he was trying to say you'd only have a 3% mortgage if you only recently bought a house, and therefore you must've been renting before that.

But then I figured that's not what he meant since that wouldn't account for a myriad of possibilities like refinancing or selling one house and buying another.  

Can we assume you refinanced?

[BeachGuy23 642]

Just now, Horseman said:

People with so much cash they don't need to leverage.  How long you been paying on that mortgage Executive VP?  

I guess I don’t have so much cash that I want to leverage my 3% note.

And you think people with mortgages, of which you have zero clue if the terms, should be laughed at?

You”re such an insecure, beta little girl.

Why are you so in love and obsessed with me Tony?

[Hardcore troubadour 15,484]

Just now, Horseman said:

Hey, he can't afford double payments and student loan payments!!!11!!!  He's just a senior/lead/supervisor analyst.  

My rate is 2.65.  Boyo says his is 3 pct. I doubt it , but it looks like one of us managed their money better. 

[BeachGuy23 642]

Just now, nobody said:

At first, I thought he was trying to say you'd only have a 3% mortgage if you only recently bought a house, and therefore you must've been renting before that.

But then I figured that's not what he meant since that wouldn't account for a myriad of possibilities like refinancing or selling one house and buying another.  

Can we assume you refinanced?

Gee, your scenario is pretty spot on boyo.

Borrowing at 3% to add property is how wealth is created.

[Hardcore troubadour 15,484]

2 minutes ago, BeachGuy23 said:

I guess I don’t have so much cash that I want to leverage my 3% note.

And you think people with mortgages, of which you have zero clue if the terms, should be laughed at?

You”re such an insecure, beta little girl.

Why are you so in love and obsessed with me Tony?

Oh yeah, I know you’re keeping tabs, so in case you’re wondering where I was for a couple of hours earlier, I was mowing my lawn. It takes a little while because, well,  it’s not a tiny house on a tiny lot. 

[BeachGuy23 642]

Just now, Hardcore troubadour said:

Oh yeah, I know you’re keeping tabs, so in case you’re wondering where ineas for a couple of hours earlier, I was mowing my lawn. It takes a little while because, well,  it’s not a tiny house on a tiny lot. 

Absentee dads gotta do something I guess.

[Maximum Overkill 2,006]

4 minutes ago, BeachGuy23 said:

Borrowing at 3% to add property is how wealth is created.

Spot on BOYO. Use equity to create equity. 

[BeachGuy23 642]

4 minutes ago, Maximum Overkill said:

Spot on BOYO. Use equity to create equity. 

You may want to clue your fellow cultist in boyo. 
 

They ain’t very savvy financially.  And why you’re at it, ask them why they’re so obsessed with me. It’s creepy.

[Horseman 2,470]

30 minutes ago, Maximum Overkill said:

Spot on BOYO. Use equity to create equity. 

On occasion and in certain situations like a mortgage. 

Otherwise why wouldn't you go get as many loans as you possibly could when interest rates were near zero?  And then turn around and invest.  Two reasons depending on your situation:

1 - Risk. Poors can't afford to pay off the loans if the market goes into a recession. It would immediately put them in bankruptcy.  

2 - You don't need to because you have enough cash that all tax sheltered accounts are maxed and you're too busy finding places for the cash you have.  Zero reason to be leveraged trying to generate more investible cash.

But that wasn't the point anyway.  The point was that Boyosexual runs around claiming he's highly educated with a VP job putting other people down.  He talks like he's a #2 above.  But, he's not smart enough to cover up for his lies.  Having a mortgage into his late 50's just goes along with his student loans, 1600sf house, not being able to retire until he's 65, work from home, non-essential, 2/3 carrot earrings.   All points to him not really being very successful. He's a fraud.  

[Horseman 2,470]

44 minutes ago, BeachGuy23 said:

You may want to clue your fellow cultist in boyo. 
 

They ain’t very savvy financially.  And why you’re at it, ask them why they’re so obsessed with me. It’s creepy.

The trainwreck is wondering why people are staring at him.