NO ONE CAN AFFORD THIS ANYMORE!

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When you start to realize the scale of the homeowners insurance nightmare that people across America are facing you will never see homeownership the same way again. People are paying massive premiums and when combined with property taxes can be several thousands of dollars per month even if you have no mortgage. How is the housing market going to continue going up when people are paying these massive bills?
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s RU-vid channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, RU-vid, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

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Опубликовано:

24 апр 2024

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Комментарии : 1,6 тыс.

@MichaelBordenaro 5 месяцев назад

Fast Food Customers HAVE HAD ENOUGH OF THE HIGH PRICES! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-6CLAgGEosQk.html

@robertlaird6746 5 месяцев назад

The connection in your video at around the 9 1/2 minute mark is skipping/ pausing.

@ROUXGAROUX-v3v 5 месяцев назад

Primary malfunction here, this neighborhood is overpriced by an order of magnitude. Would be interesting to see historical pricing data.

@brianlewandowski7610 5 месяцев назад

Good luck with that.

@editorjohn8803 5 месяцев назад

How do you feel about the following news: "reAlpha Tech Corp. launches Claire, the real estate industry's first AI-powered, zero-commission Smart Buyer's Agent. Claire offers a cost-free alternative for homebuyers, utilizing AI-driven workflow to guide them through the home buying process. Claire matches buyers with their dream homes using over 400 data attributes, providing insights into market trends and property values. The AI aims to make the homebuying process more efficient, enjoyable, and cost-efficient." Do you think it will take a large piece of the pie from realtors?

@Battleneter 5 месяцев назад

FYI That roof looks like some kind of concrete tile likely to last 60+ years, not the cheap garbage vinyl roofing tile that is sadly still allowed in many parts of the US.

@MichaelBrown-ny3et 5 месяцев назад

We are completely screwed in this country.

@MichaelBordenaro 5 месяцев назад

Specially, if it keeps going like this

@8MunchenBayern8 5 месяцев назад

just wait if we get another Biden term.

@barjer54 5 месяцев назад

@@8MunchenBayern8 You can bet on it. Tyrants don't willingly relinquish power!

@jimshoe402 5 месяцев назад

@@MichaelBordenaro Move Home I can get u a Job with R&D Thiel right down the street But work...ALOHA

@johnh1093 5 месяцев назад

If some clowns pay millions of bucks for those old uninsurable houses, the economy can't be that bad. Someone has a lot of money.

@Resmith18SR 5 месяцев назад

The Golden Girls would have to become homeless now if they brought the series back. 😂😂😂

@Mhel2023 5 месяцев назад

Their lanai would be in a WalMart parking lot these days 😢

@davidshanahan5134 5 месяцев назад

Blanche would be working the streets for cash - and enjoying every second!

@fabiohoyos4199 5 месяцев назад

That was filmed in Los Angeles not Florida

@fireboltaz 5 месяцев назад

@@fabiohoyos4199thanks capt obvious

@justadildeau 5 месяцев назад

Dammit that's what i was gonna say! 😂😂@@davidshanahan5134

@almdrs 5 месяцев назад

Do not despair. You can always count on your Republican or Democrat sending help to other countries.

@MindBodySoulOk 5 месяцев назад

Yep, definitely can count on crooks to act like crooks.

@Battleneter 5 месяцев назад

The US is protecting its privileged position of having effectively the world reserve currency $US, its a large conversation. Additionally per capita the US is towards the bottom of developed countries for providing overseas aid, not as generous as many Americans believe.

@gregs8685 5 месяцев назад

I assume you’re talking about sending arms to Ukraine. To NOT send them military hardware would be dumb. We cannot ignore an aggressive and expansionist Russia. If they succeeds in Ukraine, Poland or Finland will be next. Now is the time to stop the. Spending a tiny amount of our national budget to help Ukraine defend their homeland is a good investment. Our weapons have destroyed a large amount of Russian tanks, planes, ships. Ukraine has killed hundreds of thousands of Russia’ fighting age men. Let’s help them pummel Russia. Their economy is in tatters. You have a problem with that?! Yeah, I agree our spending and national debt is out of control, as is our southern border. But this is a top priority and let’s not cut our nose to spite our face.

@gaseousclay6126 5 месяцев назад

Sad to see us homeless and Ukraine and Israel taking our $$

@ralphholiman7401 5 месяцев назад

They don't work for us.

@malachi- 5 месяцев назад

Another joke with the whole insurance industry is, you pay all that money in for years, then make a claim and then they try not to pay out for all the damage, in the first place.

@blackworldtraveler3711 5 месяцев назад

That’s why I have always partially and fully insured my home and auto while investing the money saved. I have over $300k now as an insurance buffer growing reinvesting dividends and interests until needed.

@kenb5279 5 месяцев назад

Don't buy a property that you'll need to insure. Problem solved. Rent.

@TairyGreen89 4 месяца назад

Home insurance doesn't cost this much in most areas. I have never heard of prices this high. It might be due to living on the coast and the risk of hurricanes. It is usually only $100 or $200 a month for good home insurance.

@carlosmileham6519 4 месяца назад

At any rate, it’s legalized extortion.

@jayesimond9301 5 месяцев назад

Medical insurance, auto insurance, homeowner’s insurance… The whole insurance industry is a scam, no matter ur health, wherever u live, whatever u own no matter how new or old.

@sharonsparks900 5 месяцев назад

Yep!

@BaccaratDegen 5 месяцев назад

It’s all a scam. The insurance market is controlled by the governor and state legislature, so they know what they want. They’re trying to make the state more like California but more RED if you know what I mean.

@nobodyatall7039 5 месяцев назад

That's why I don't pay insurance for anything. I don't buy or depend on anything I can't afford to repair or replace myself or just deal with the consequences of not having it.

@sharonsparks900 5 месяцев назад

@@nobodyatall7039 What about healthcare?

@nobodyatall7039 5 месяцев назад

@@sharonsparks900 I don't have health problems and never have. When I have a bad accident I just go to ER with no ID and don't pay the bill.

@deep6301 5 месяцев назад

The system is screwing us over every time we turn around.😢

@lifewith9cats153 5 месяцев назад

Ukraine, Israel, and Taiwan send their regards. 😅

@supasuprodchinda1350 5 месяцев назад

Jews

@nikopoulos5241 5 месяцев назад

@@supasuprodchinda1350 We live to pay taxes to the government who send it all to israel

@rosesmith6208 5 месяцев назад

keep you poor. peasants are not allowed to have alot of property and leisure, you will own nothing and be happy perhaps?

@joycedudzinski9415 5 месяцев назад

I cannot see how people can afford to live in certain parts of Florida anymore.

@dbrew2u 5 месяцев назад

They can't .

@nicholasalteri3144 5 месяцев назад

I agree. I have a great job and still couldn't afford to buy a house in a lot of "middle of the road" type areas in many of the more desirable cities here. Definitely not with the insurance costs.

@Brasi4522 5 месяцев назад

Super wealthy people 😢

@hideoussails1783 5 месяцев назад

It's not just being able to afford it, it's being dumb enough to actually pay it 🙃

@RickJamesFPV 5 месяцев назад

Here in California it is worse!

@Resmith18SR 5 месяцев назад

With those prices is everyone in Miami Beach a fentanyl dealer or a Russian oligarch? 😂😂😂

@MichaelBordenaro 5 месяцев назад

It makes you wonder

@overthehilldill3626 5 месяцев назад

Why yes... Yes they are

@networth00 5 месяцев назад

They mostly live in cheap rental condos.

@jcmontecarlo6123 5 месяцев назад

Yes,comrade

@benfernkay8974 5 месяцев назад

alot are older folks who have been there always, or foreign money , from countries with political issues and these people are over paying and driving up prices,, like venezuela , colombia, nicaragua , or californianas, new yorkers, ( where a hole in the wall is a million dollars etc) and also some suspicous issues too. an opinion

@timr31908 5 месяцев назад

They push everything to the limit and nothing ever gets fixed....😮

@chris5942 5 месяцев назад

Housing needs a hard reset on value. Those prices are a pipe dream.

@LarsonFamilyFarm-LLC 5 месяцев назад

They can't sell their homes EVER... unless they sell at 30% of Appraised value

@matthewbowers6178 5 месяцев назад

This is the new normal unfortunately

@francismarion6400 5 месяцев назад

You want to cut people's assets into a fraction when our government is blowing money faster than ever? That's insane.

@Francisco-po1cf 5 месяцев назад

Too late

@irritatedkitty7301 5 месяцев назад

Gary Indiana has low, low housing prices. Almost everyone moved out. They need a tax base. Not being funny. That's what the hipsters did and bought cheap housing in great old neighborhoods in Chicago area. Around "Bucktown, Wicker Park, Ukrainian Village, Pulaski Park, Eckhart Park, Erie Neighborhood, other nearby area". There has to be neighborhoods like that in Florida or any state. Think outside the box.

@nicolasbenson009 5 месяцев назад

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

@BridgetMiller- 5 месяцев назад

"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task

@tatianastarcic 5 месяцев назад

Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.

@berniceburgos- 5 месяцев назад

this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

@tatianastarcic 5 месяцев назад

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@Michaelparker12 5 месяцев назад

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

@dyates6380 5 месяцев назад

The numbers in this video literally made my head spin. Ten GRAND a month for rent, and twenty six grand a month to buy and "maintain and stay" in a home????????? A home to buy? LORD. My mother in law lives in Florida. Probably eight or so years ago she just gave up homeowner's insurance. She weighed the pros and cons, and opted on taking her chances. I initially thought she was NUTS, but after some thought, I support and don't blame her.

@DiscipleofHim 5 месяцев назад

Go Granny.

@commonsense6967 5 месяцев назад

I did the same as your mom, after paying homeowner's insurance for 30 years without needing to make a claim in all those years! I just wish I had terminated my insurance sooner, and I'm in FL.

@MichaelBordenaro 5 месяцев назад

It is absolutely crazy

@jlseagull2.060 5 месяцев назад

I am moving into that direction. I had a claim before all these crazy things happened. So far I am doing time with my current insurance. I will be off the hook before long. I figure houses in my hood are sold in two weeks (located in a highly sought after school district). If worse comes worse, I can sell my lot and still make a good profit. I am not greedy😂.

@deborahheckstall1881 5 месяцев назад

They want money. Pur your insurance money in the bank. Fix it yourself. Lots of people Pay contractors to fix their roof. Noone needs fly by night insurance companies who take your money and run. $25,OO0 a year.@

@jblaze114 5 месяцев назад

75,000 a year? That's what I paid for my house

@gregorylyon1004 5 месяцев назад

Houses are no longer $75K

@rongendron8705 5 месяцев назад

I only paid $30,000. for a 2 bdrm. ranch in Beverly Hills, Fla. in 1990! I sold it in 2004 for $55k! If I still had it, I would probably go without house insurance, today!

@PeaceIsBetter 5 месяцев назад

When you speak the truth each and every day you piss very powerful folks off. Please watch you back!

@redfo3009 5 месяцев назад

He’s still within the confines of accepted speak. I’d say he’s safe for now. :)

@michaelmeyers3664 5 месяцев назад

Don't want to get arkiside!

@jesusisking8502 5 месяцев назад

@@redfo3009 It is all good until they make it all retrospective, which is often.

@blackworldtraveler3711 5 месяцев назад

I seriously doubt powerful and people with money are bothered. Just the ones who can no longer afford to live in certain areas of Florida.

@weirdmatter 5 месяцев назад

Glad someone is thinking and talking about this stuff.

@debbiec6216 5 месяцев назад

believe me , I know people who doesn't come on youtube and they are talking about Everything . They are awake and they know what's going on .

@gregorylyon1004 5 месяцев назад

RU-vid must pay a lot of money for these videos. Micheal can still afford his house insurance and mortgage in Florida

@maverick-zj3jz 5 месяцев назад

My auto insurance went up,50% , no tickets, no accidents 20 year old car.

@orbitalair2103 5 месяцев назад

Covering evs, and inflation.

@kenb5279 5 месяцев назад

Repair costs are way up. Rental car fees are up. Hospital costs are up. Lawyers are suit happy more than ever before. Why would your insurance premium not increase?

@gregorylyon1004 5 месяцев назад

Driving old iron you pay the highest premiums for insurance. Your car is caveman for safety standards.

@askssk715 5 месяцев назад

I'm down in Miami, Palmetto Bay to be exact. I'm one of a few blocks just east of US1 in Flood Zone X. Citizens dropped our wind policy years ago and now we have Homeowners Choice. My husband and I have been with the same State Farm office/agent since we started driving. Our homeowners policy is still on the reasonable side, but the freaking taxes! We still have a mortgage sadly, although we have lived here since 1998. Don't judge. Mortgage payment went up $150 this month due to an escrow shortage and it's getting close to being unaffordable with our current circumstances. Here we are in our upper 50's and retirement is way out of sight. Can't even think about downsizing. Houses in my neighborhood are selling over a million! It's insanity!

@ronv6637 5 месяцев назад

Sell on contract and get a apt or condo. Wait for market to reset

@Poopster4U 5 месяцев назад

I was planning on moving to Florida until I learned about the insurance apocalypse happening there. I have no idea how people can afford $10k+ a year home owners insurance.

@AngelwithAttitude7 5 месяцев назад

There are still places you can move to that are cheap. Ocala for one. If you don’t mind living in the country.

@rhmagalhaes 5 месяцев назад

South Carolina or Georgia (if you want the parks benefits) are better options

@nataliaperez9954 5 месяцев назад

They can't.

@francismarion6400 5 месяцев назад

10k insurance for a $1,000,000 home. Can you afford a $1,000,000 home?

@pinschrunner 5 месяцев назад

Don't live at the beach

@jadaosteen1898 5 месяцев назад

These home flippers are what have got us in a lot of trouble. Because every time they flip the house the price goes up which brings up our taxes and insurance. I hope they lose their ass

@gregorylyon1004 5 месяцев назад

A lot of Pension funds purchased many of these overpriced homes. Investors figured that a house never depreciates. Yeah right. LOL

@Pebbs800 5 месяцев назад

It's crazy if you go on any of the social media websites now adays. Three years ago I swear all I saw was influencers boast about buying income properties and now those videos are almost non existent.

@yosefmacgruber1920 4 месяца назад

Flippers should at least fix the place rather than trying to hide serious problems.

@prd004.2 5 месяцев назад

Newer houses with modern building codes won’t last half as long as the old school craftsmanship

@marknewton6984 5 месяцев назад

Good point.

@DrEd-th2lu 5 месяцев назад

Absolutely! New everything is junk.

@blackworldtraveler3711 5 месяцев назад

All about choices.

@vegasprogambler5336 5 месяцев назад

not according to a hurricane....

@GW-gz8jh 5 месяцев назад

@@vegasprogambler5336the 1950s block homes in my area fared better than the newer builds in the last 15yrs.

@overthehilldill3626 5 месяцев назад

You're a rock star Michael. Thx for all you do for us.

@MichaelBordenaro 5 месяцев назад

Really appreciate that. I do what I can.

@pinschrunner 5 месяцев назад

What@Michael said about calling insurance company and asking questions is absolutely correct and it goes into the entire Nationwide insurance network so all companies can see it

@MplsMaven 5 месяцев назад

That’s just wrong 😑

@ChristopherSmith-rn4wd 5 месяцев назад

I paid off my mortgages, tried getting a policy for liability and fire only and that would cost me MORE than my regular policy ,then i tried getting 2 seperate policies 1 for only the structure (as if i was renting it out) and 1 for contents like a renter.that also was more than my current policy.they have all angles covered

@MrTonyPiscatelle 5 месяцев назад

Lived in FL twice. No way would I even consider moving back with home prices so out of hand. You'll have nothing and be happy. Seems that's where we're headed.

@northmaineguy5896 5 месяцев назад

All I see is people going broke to keep up with the Jone's. My mortgage is $465 a month, what do these people do for a living and how do they do it!

@jayesimond9301 5 месяцев назад

With respect, what type of home did u buy, where & for how much.

@MplsMaven 5 месяцев назад

5 years ago my PTI was $420.00. Now my PTI IS $898.00. The taxes and insurance will likely cause me to be homeless one day. And rent in the suburbs of Minneapolis is $1,500 to $2,000 for rent each month.

@RickJamesFPV 5 месяцев назад

@@MplsMaven I wish we had $1500-$2000 rent here in S. Cal.

@northmaineguy5896 5 месяцев назад

@@jayesimond9301It's a 1000sf cabin on a lake. Granted I didn't finance much and my interest rate is way low -- my only point was why do you need so much house?

@gregorylyon1004 5 месяцев назад

$465 dollar a month payments??? You must have bought a long time ago

@janedoe1404 5 месяцев назад

My homeowners insurance came in the mail this week, it was double. My house is 3 years old. I called them and they found me a different carrier through Geico, at last years price. They asked me if I ever made a claim in the last 7 years, if I had pets, if I altered the structure, and if I had solar. My answer was NO to all these questions. These insurance companies are getting ridiculous. My house is paid for, thankfully.

@endofsociety 5 месяцев назад

It seems like a conspiracy doesn't it? Driving people out from owning their own home. These big corporations are all connected one way or another.

@blackworldtraveler3711 5 месяцев назад

Yeah my homes and car are paid for so I partially or fully self insure. Also a large shareholder of Travelers and United Healthcare since early 90s so ironically an insurance company pays my home/auto/health/dental insurance premiums,copays,and deductibles with the dividends now.

@gregorylyon1004 5 месяцев назад

You must be Rich to have a 3 year old home fully paid for

@lawrencearnemann3923 5 месяцев назад

I paid cash for my house and self insure. I'm retired at 53 and insurance can suck it

@WayneFisher-cs3et 5 месяцев назад

I am from Australia and we do have our own huge problems here, but those property taxes and home owners insurance in America is insane. If they raised the taxes and insurance to the same level here in Australia that would be the end of the property market here.

@gregorylyon1004 5 месяцев назад

America. Land of the free and home of the sky high rates. LOL

@Impozalla 5 месяцев назад

Home insurance is making people go broke in Florida.

@AR-rn8ok 5 месяцев назад

In Florida and California and whatever areas the insurance companies de use to price gouge.

@blackworldtraveler3711 5 месяцев назад

I’m doing fine in Florida. I’m debt free and not in the matrix.

@MtuckerGoBlue 5 месяцев назад

Hurricanes and coastal flooding are doing that. Insurance is not meant to be used so the State can kick the can of its responsibilities down the road. Build properties that can endure the storms, buffer the flooding rather than building right on the water line, and finance a state fund to address large scale losses. But instead, the states do nothing and make the insurance companies pay for it so the cost is given to the policy owners. Your tax dollars are being robbed and the government is shifting its responsibility to others.

@gregorylyon1004 5 месяцев назад

Florida is making people go broke in Florida. LOL. You gotta be a multi millionaire to even dream of retiring there

@MrSteeDoo 4 месяца назад

They knew what they signed up for.

@duancoviero9759 5 месяцев назад

Yet another American industry flexing it's collective muscle and crushing the chance of the working class to get ahead. I don't believe the insurance industry is out there losing money.

@gregoryabbot420 5 месяцев назад

Capitalists are in a consumer gouging feeding frenzy. You step out of your house and it's like throwing a pound of raw ground beef into a school of starving piranhas. It's the law of the economic jungle and WE'RE the primary prey species. The human equivalent of wildebeest.

@laurijohnson7754 5 месяцев назад

But if no one insures their home any more will there be insurance companies? Aren’t they just shooting themselves in the foot?

@duancoviero9759 5 месяцев назад

@@laurijohnson7754 no because their business is damn near embedded in law. You are forced to do business with them. Which gives them incredible power.

@laurijohnson7754 5 месяцев назад

@@duancoviero9759 I didn’t think about that. In no my case our home is paid off. It’s considered a motor vehicle being a MH. I may have to go without insurance. Our property taxes so far are low

@kenb5279 5 месяцев назад

No industry exists to give their product away. That's how business works. Then, if it no longer works those businesses close.

@NorthFlaMan 5 месяцев назад

In Florida, Citizens Insurance is a non profit company set up by the Florida legislature to provide coverage for people who can not get insurance through the private sector. Why is insurance high in Florida? 2 reasons .. Hurricanes and Attorneys. Attorney’s in Florida make a TON on fees after they file suit. They work with roofers and water mitigation companies to exploit the situation. When Citizens raises rates, which they do, it’s not to make a buck but to pay for all the frivolous lawsuits and keep afloat. Each year, a dozen of private carriers go out of business. Very few carriers want to enter the Florida insurance market.

@Veganisbadhunter-wx5nt 5 месяцев назад

I pay $568/year for home owners insurance Allstate. Home value $300K in northeast Ohio. Cost of living is absurd in Florida.

@gregorylyon1004 5 месяцев назад

Florida has been getting hurricanes big-time.

@PanicAttackz 4 месяца назад

Damn I pay double that with Allstate as well and in northeast Ohio to. House is worth the same. No claims

@nancymorera2119 5 месяцев назад

You nailed it Michael! I’m an insurance agent and realtor as well. You’re always informing people the right way. Thank you! God bless!🙏🏻

@joepoppy3264 5 месяцев назад

My God....these costs are unbelievable...

@Eiralav6010 5 месяцев назад

My insurance has increased from $1400 yr to $4800 in just 5 yrs! And I live in a manufactured home! They are pricing us out of our homes by design

@jessicadubois9945 5 месяцев назад

💯

@virginia3222 5 месяцев назад

By whose design are you being priced out of your home?

@GirlNextDoor1968 4 месяца назад

Is it on wheels?

@michaelsullivan8444 4 месяца назад

Florida makes up for 75% of all claims in USA…

@MrSteeDoo 4 месяца назад

You don't believe in the free market?

@paradise6606 5 месяцев назад

These home prices are ridicules.

@gregorylyon1004 5 месяцев назад

A lot of Pension funds drove up prices buying homes

@michaelking42 5 месяцев назад

In 2019 I was living in Missouri. Had a leaky roof on my house, called the insurance agent. He said he'd send an assessor to see if there was any hail damage. The assessor did not show up when arranged, but called me later in the day to say he'd been out and was going to replace the roof due to hail damage. My roof at the time was only 2 years old. I asked him if he was sure he came to the right house and oh he was absolutely sure. The next day I was out of town and caught him on my ring camera at the front door. He said his computer had crashed and he'd lost all his measurements. They paid $28,000 for a new roof because he guy refused to admit to making a mistake. Add incompetence to your list of reasons for increased insurance.

@gregorylyon1004 5 месяцев назад

You got paid for the new roof. So what are you complaining about exactly???

@michaelking42 5 месяцев назад

@@gregorylyon1004 Odd. I don't seem to recall the comment filed under complaint. Did you watch the video? Did you read the 'complaint'?

@doorguru168888 5 месяцев назад

@@gregorylyon1004 I think his point was he probably didn't need a new roof, but the insurance company replaced it anyway and this is what drives the cost up for homeowners insurance.

@gabyfields3235 5 месяцев назад

Everything in the U.S. is smoke and mirrors, but VERY expensive for what you're getting....who the hell would want to live in these FL neighborhoods with flimsily-built multi-million dollar homes (they certainly don't look like it!), with electric lines above ground on ugly poles, no sidewalks, and houses with cheap roofs that need to be replaced every 20 years? Looks like a Third World country to me! I am from Western Europe, and the houses are so much better built! No cheap drywall, tar shingle roofs, Tyvek insulation, or flimsy 2x4s stapled together! We have REAL shingles on the roofs that last for 100 years or more, thick walls, and much better windows! To me it would be an insult to spend $2m for a sh*t house in Florida that blows away in the next hurricane, lol!

@lifewith9cats153 5 месяцев назад

Agree and I'm a US citizen. The US is all about marketing!

@kmckee365 5 месяцев назад

I'm in Phoenix and my insurance company for my car just dropped me. Haven't had a ticket or accident in 15 years and I got canned. 😅

@Kuulei265 5 месяцев назад

That is so unfair. Did they give any reason? Insurance companies I thought appreciated good clients who didn’t file claims. Seems a lot of things are upside down.

@kmckee365 5 месяцев назад

@@Kuulei265 the letter states agency no longer represents the company. Not sure what they mean by that.

@Dowhatyoucandonow 5 месяцев назад

Sounds about right,people don't realize it yet but everything in the United States is controlled by insurance companies

@kmckee365 5 месяцев назад

@@Dowhatyoucandonow I am a medical biller by trade. I definitely know how corrupt it is out there. 😢

@azmike3572 5 месяцев назад

@@kmckee365 Probably need to contact another agency that does represent the company.

@snyder.4587 5 месяцев назад

Michael, my grandmother lived down the road waterfront Palm Beach Island from Trumps home. Epic. My grandmother had to sell because of the property taxes. The family would meet there every year tradition beautiful. That tradition to the family was taken from us, the rug was taken out underneath the entire family, mostly heartbreaking, for our Grandmother. Thank you always for your Florida updates, because people do not see the truth about living there. ..................Michael the Champion.

@rebeccastokes4956 4 месяца назад

No one should be taxed out of their home. Should be illegal

@pinschrunner 5 месяцев назад

My Florida home insurance increased 50% and car insurance 18% for 6 months and they tolde they already have another increase approved for the next 6 months. Thanks Tallahassee! My friend is an adjuster and said that die to lack of car parts from Chyna they are totalling cars with $5k damage sometimes

@shanetoler9905 5 месяцев назад

Hello Michael. My name is Shane and I live in southern Louisiana. I own my home, no mortgage. I also have insurance with Citizens. My policy just renewed and it went up 110 %. I have never made a claim. This is getting ridiculous and I don't see how anyone can afford these rising prices.

@gregoryabbot420 5 месяцев назад

Do you vote Republican? They favor no regulation whatsoever of ANYTHING where there's a buck to be made. Their record speaks for itself.

@tizzx4945 5 месяцев назад

Living near the beach or sea is nice, no question! But the main question is whether you can afford it or not.

@nataliaperez9954 5 месяцев назад

Won't matter if you are by the coast or not.

@justinlowry6522 5 месяцев назад

These days, only the top 1% can afford it.

@Alex-jx5bx 5 месяцев назад

Wait till hurricane comes...

@fredk9999 5 месяцев назад

We appreciate our host for these outdoor walk-around R E segments. Always learn a lot.

@isaacsilver5956 5 месяцев назад

My home owners insurance, eastern FL coastal city, has gone from 3k to 17k in 3 years. Newer roof and all latest codes. My neighbor was quoted 10k higher for renewal and must replace a 15 year old metal roof to write. The system is a joke.

@networth00 5 месяцев назад

Same. The insurance business is disgusting... all while they make BILLIONS.

@gregorylyon1004 5 месяцев назад

Everyone wants to live in the Sunshine State. Start paying. LOL

@jeffmason2010 5 месяцев назад

Nothing will get fixed till Congress stops spending!

@user-zb7tg5hi3t 5 месяцев назад

You got a better chance of getting pregnant before that happens

@pablo81778 5 месяцев назад

The high spending is causing the very high inflation

@mustypipes6602 5 месяцев назад

Nothing will get fixed till Congress implodes and we start over...Also term limits.

@amrice62 5 месяцев назад

You are missing the big picture. Nothing is going to get fixed This is a planned process in drive with no brakes! John 14:6 Jesus said, “I am the way, the truth and the life. No one comes to the father except by me”. Now is the time to turn your lives over to Jesus. Live your life for Him. Walk with him through these dark times

@jblaze114 5 месяцев назад

so its not getting fixed

@advertisercommerce6990 5 месяцев назад

Spot on by including executive pay, it has gone through the roof and obnoxious the amount they are paid! They all work 40 hours per week, just like we all do! NO ONE IS WORTH $15 million per year!

@pinschrunner 5 месяцев назад

A high percentage of the seniors that I know in Central Florida who have fixed incomes, put metal roofs on their homes and dropped their insirance

@pinschrunner 5 месяцев назад

They tell me if something happens to the house, they will just go live with one of their kids. They prefer to keep their monthly income

@dsj9831 5 месяцев назад

Yep.. all the homes here in Charlotte County with metal roofs faired very well when Hurricane Ian hit.

@gregorylyon1004 5 месяцев назад

That must be what my father did to his house in Florida. He's a cheap Union retiree. No way is he paying $5K dollars a year for insurance

@dbrew2u 5 месяцев назад

A nice 2 Bedroom Apartment in Tampa FL will become available in May . My Daughter has given up trying to purchase her 1st Home there . She's been trying for 3 years but prices and competition have made it impossible . So she opted forTennessee .

@dsj9831 5 месяцев назад

Nashville and surrounding counties are very expensive. Insurance may be a little cheaper.

@Alex-tp8ku 5 месяцев назад

People need to unite and say NO

@malachi- 5 месяцев назад

@@geocam2 Capitalism and corporatism, are not the same thing.

@jul.escobar 5 месяцев назад

This.

@mr-vet 5 месяцев назад

I was a FL “resident” for all but the first couple of years I was in the military…glad I never actually moved there after I retired in 2014 (with just short of 26 years of military service). I did have to change my official residence to Virginia upon retirement, though. But it was nice not to have to pay/file state income tax for 20-some years-while I was living overseas as well as stationed stateside.

@jadaosteen1898 5 месяцев назад

Between homeowners insurance, property taxes and car insurance yeah it's getting a little difficult😢😂😅

@mr-vet 5 месяцев назад

The question is, how much are these insurance company executives earning in salary, bonuses, stocks, and other fringe benefits? And, how much money has the insurance industry given to DeSantis and other FL politicians?

@Cozydrone 5 месяцев назад

Michael,back in 1995 when I bought my house,$850.00 covered taxes,insurance and mortgage .I am glad today I rent.what a burden that was lifted off me.i am happier today😁🇺🇸

@TonyM-zi9rq 5 месяцев назад

Back when I bought my first house in 93 $550/mo covered it all. Paid 58k for it, now its estimated at 250k. Should have kept it...

@francismarion6400 5 месяцев назад

You could still have that same cost insurance if you wanted.

@danettewelborn5577 5 месяцев назад

But you will rent till you die

@MichaelBordenaro 5 месяцев назад

Good for you glad to hear that!

@lisahertel2415 5 месяцев назад

Renting has it’s own issues

@seekrengr751 5 месяцев назад

Good advice regarding the insurance. One additional thing is that when going with an insurance agent, ask about an umbrella policy - meaning both auto and homeowners insurance. Our agent, at least, loves umbrellas as a tactic to reduce insurance rates, and it has kept ours both low. Of course we don't insure $85K SUVs either - our cars are cheapies.

@Wiggieboo66 5 месяцев назад

I work for one of the largest insurance agency in Florida, and most of our clients' premiums have doubled. And the $25K premiums are on the low side. My brain turns to mush at night because in the day time I'm requoting a ton of policies to see if we can find better premiums. Its just crazy

@kenb5279 5 месяцев назад

I've been an independent agent for 45 years. This is insanity and completely unsustainable. Will you keep shopping them again next year? How many times do I have to rewrite a clients policy before it has a good home? This is the most bizarre version of reality.

@gregorylyon1004 5 месяцев назад

You must be making a good living on selling insurance. You live in Florida

@Wiggieboo66 5 месяцев назад

Yes, I'm in Palm Beach Gardens

@ILLUMINATOR49 5 месяцев назад

Michael you are a top shelf journalist with a flair for truth telling 🙏🖖

@MichaelBordenaro 5 месяцев назад

Thank you!

@johnb-qw9sp 5 месяцев назад

My homeowners insurance went up 25% in 2023 and another 25% in 2024 in Texas. Still glad I'm not in Florida.

@blaqswhodefy86 5 месяцев назад

I love these videos. They are always raw and to the point.

@jasongeo2 5 месяцев назад

If you don't have a mortgage you don't need to get any and fall victim to this. There is no mandated insurance required for a home if you don't have a lender behind you.

@commonsense6967 5 месяцев назад

Exactly! Pay off mortgage and be free.

@nicklll4477 5 месяцев назад

Not on car insurance. It's mandated by law.

@Deploracle 5 месяцев назад

I think that's one way they will make sure people own nothing .. by putting required insurance out of reach.

@seniormale 5 месяцев назад

And if the house burns down and you don't have the money to rebuild. What then

@jasongeo2 5 месяцев назад

@@seniormale you take your loses and sell your land and move.

@orionstarman 5 месяцев назад

I don't eat out anymore!

@jerrylawler2735 5 месяцев назад

Me too Stop going to Disney also

@aurinkobay7118 5 месяцев назад

@@jerrylawler2735 Disneyland sucks these days. Went there once, then I wanted to return. I looked at the recent comments and said to mysef fck it! Knotts Berry Farm is better.

@aurinkobay7118 5 месяцев назад

Eating outside is sucky experience. I just sit for a quick coffee or tea and desert and leave. Quality plummetted.

@Ken-vl4wk 5 месяцев назад

Eat where? Most restaurants suck!

@thetapheonix 5 месяцев назад

“Don’t eat anymore!” FIFY

@not_nostradamus683 5 месяцев назад

One unstated reason I can see insurance going sky high is insurance companies have to purchase a certain allotment of "safe" investments, i.e. U.S. government bonds. With the Federal Reserve keeping interest rates at or near zero for almost 20 years, this worked when inflation was below 2%. Now that inflation is between 4% and 12% (depending on who's number you believe), these "safe" investments, these long term U.S. government bonds paying 1% to 2% interest, are losing massive amounts of money for the insurance companies when adjusted for inflation.

@marigymanzon8045 5 месяцев назад

I found this content to be extremely helpful!! I appreciate ALL your videos! Thank you, Michael!

@wadeinn463 5 месяцев назад

Ian’s eye went over our house. Our pool cage ended up in the pool and we had a little more damage. Our yearly rate was $1200 and the deductible was $8000, we got a check for $15,000 from the insurance company. We were lucky and sold. Wonder what the insurance would’ve cost us nowadays.

@tennislover5763 5 месяцев назад

This is quite interesting what is happening in the state of Florida. A neighbor that moved to Florida in 2012 bought a home built in 1999. The roof was 13 years old. So far, they have replaced the roof in 2014 and then in 2023. Why do you need to replace the roof so many times I asked. In addition, they replaced the windows and entry doors. Because the homeowner's insurance companies are stating that if you want us to insure you, you must make these changes, or we will cancel your homeowner's policy. The insurance companies are raking the money in from people living in Florida expecting them to replace roofs every ten years. That's ridiculous! I live in the northeast, and we replace roofing shingles every 40 to 50 years. My home was renovated in 2011 with a new roof, entrance door, double car garage door, and windows only because they needed to be updated. The insurance company didn't say for us to do these things. I think I will stay where I am. No offense to Florida, but this sounds unreasonable.

@louisstennes3 5 месяцев назад

Also beware that insurance companies will drive by your property unannounced and look for an excuse to drop you such as a tree to close to the house that looks dangerous or a fire hazard. This happened to me and I did not know it until they sent me a letter telling me they did it. I was not cancelled. I had dangerous trees removed about six months before. Just be aware.

@belindamiller6349 5 месяцев назад

Sorry but that's creepy.

@kenb5279 5 месяцев назад

True that ! The policy language gives them the right to do so.

@gregorylyon1004 5 месяцев назад

Insurance companies are just like a one night stand. They want to assume no risk. The one night stand wants the same exact thing. How did she get pregnant??? I was only with her for one night. LOL

@LeeSurber 5 месяцев назад

This is absurd..!! Those properties and homes are simply not nice enough to warrant those prices..!! The whole country is seeing this right now and it's down right scary..!! My property value has gone from $160000 to $694000 between 2022 and 2024..!! Never seen anything like this in my life..!! They won''t deflate the values,,,, so,,, I suspect we'll see super extended payment plans being offered soon..!!! Are 50yr mortgage and 20yr car loans the thing of the future..???

@deerocker6987 5 месяцев назад

@LeeSurber. What you have to understand is that Miami is home to the international resident. Many wealthy people from other countries can afford to buy in Miami 😊.

@gregorylyon1004 5 месяцев назад

It sounds like they are jacking up your property value to pay the pension funds by upping your land taxes. Pension funds for retired workers are sucking us dry on taxes

@Juliet875 5 месяцев назад

Insurance is a mess here in Florida! A lot more people are going to self-insure if they don't have a mortgage. Thanks Michael and Happy Wednesday!

@MichaelBordenaro 5 месяцев назад

I just can’t believe how expensive it is. I was blown away when I saw these quotes. Happy Wednesday, Juliet!

@seniormale 5 месяцев назад

Self insure🤔

@blackworldtraveler3711 5 месяцев назад

I have always done a partial or full self insure. Always saved,invested,lived within means,avoided debt,etc.. Maintain a large emergency fund and financial buffer instead that continues to grow with interest/dividends until needed. It’s why I paid off my Oklahoma primary home 30yr mortgage in nine years and paid cash for my Marco Island condo 16 years ago. Funny thing is everyone laughed and made fun of me for doing things like this since the 90s but I’m the one that retired debt free at 49 in 2020 with no financial issues. What’s also funny is as a shareholder the dividends from Travelers pays my insurance premiums.

@seinundzeiten 5 месяцев назад

yes put aside 10,000 per year in an account for emergencies

@Whatt787 4 месяца назад

I was at a Los Angeles Beach in late June, the Ocean temp was a bitterly cold 64 degrees, I couldn't go in past my knees--Florida's ocean in JANUARY is 75 degrees!

@qbanb8582 5 месяцев назад

My goal is when I get my house paid off is to get into a position to self insure. Then when a hurricane comes utilize a low interest loan from the SBA.

@amandaball353 5 месяцев назад

Thank you for uploading this video Michael!!

@jasongeo2 5 месяцев назад

Worse comes to worse if you lose house due to hurricane you still have the land. Sell land and move.

@gregoryabbot420 5 месяцев назад

Yeah, buying houses for hundreds of thousands in Florida and tearing them down to rebuild will likely come to pass. If you're wealthy a lot of it could be due to tax breaks, loopholes or just plain lying on taxes anyway. So, easy come easy go. After all? It's only (free and unearned) money.

@marknewton6984 5 месяцев назад

My land and lot are worth more than the house. 8800 SQ feet in good location. Bring it on. 😎

@gregorylyon1004 5 месяцев назад

The land is useless when a hurricane levels everything above ground

@gem7078 5 месяцев назад

I worked for an insurance company in Michigan for 5 years. It was such a scam. Once I woke up to what was going on I couldn’t handle lying to our customers. They gave us a scripted spiel to give to customers when they asked why their rates increased, etc. When I quit I told my agency manager that it hurt my soul to work there. They’re all about the money. They do not care about their customers. Period. It’s disgusting.

@jkmarshall3553 5 месяцев назад

Florida Real Estate: GAME OVER!

@pinschrunner 5 месяцев назад

Not yet. Still South American money fleeing to South Flprida

@gregorylyon1004 5 месяцев назад

That's why Michael quit being a realtor and started a RU-vid channel. RU-vid pays more

@HunterJohnson77 5 месяцев назад

Everything you said in this video is 100% spot on. Not only did my insurance triple over the last 4 years, They did not renew me this year. I found insurance for about the same as the last high premium and I took it as I need insurance. I will look into shopping around and doing things such as replacing the roof in the next year. I will be shopping around with a agent and looking into the other type of policies you talked about. Thankfully I have no debt other than my mortgage (1320) and I have spare cash if needed. Never made a claim in the 23 years I have lived here. Thank you for all you do! South east Minnesota. (Farmers non renewal) New carrier Geico. (3rd party)

@ginacardarella 5 месяцев назад

I really loved Florida when I was out there. Looking for retirement, but I am so thankful I pulled out❤❤❤

@shriaingnama 5 месяцев назад

I guess you gotta stay in New York City !

@gregorylyon1004 5 месяцев назад

Why pull out??? It's just a little bit more expensive. I'm sure that you can afford it

@chrissharkey9644 5 месяцев назад

Michael! I so appreciate your shared knowledge on this! I don’t know how people make it!

@CB-jz2dn 5 месяцев назад

😂Michael, I couldn't help but laugh. The background noise with lawn blowers, trucks & speeding vehicles appear to be on the rise. Chin up Michael. We will tolerate the background noise to hear the updates you provide. Thanks for all you do.

@chapagawa 5 месяцев назад

I enjoyed hearing the birds chirping.

@MichaelBordenaro 5 месяцев назад

I just tried to ignore it in this one lol

@Beachgrl581 5 месяцев назад

My insurance in Saint Petersburg, FL for a 1,031 sq ft home in a flood zone went from $1,400/year to $10,000/year for homeowners insurance. At the same time, my mandatory flood insurance went from $1,200/year to $4,000/year in my second year of owning my home that I bought for $260K. I immediately sold and left the state. Florida has gone mad.

@SFsurf 5 месяцев назад

You should try doing a normal house under $500000. Most people don't have 3 million dollars to buy a home and if they did they could probably afford that type of payment anyways. Normal people are struggling with $2500 a month rent Or more.

@Myheartsease 5 месяцев назад

That doesn’t exist in Miami.

@alfonsoalfonso5254 5 месяцев назад

Property & income & purchasing items, ask your local politicians. Ask how much of your taxes are being sent overseas. T will say 30% sent over seas

@Akecherfd8424 5 месяцев назад

Retiring to Florida is becoming impossible. How do people afford to live there?

@northmaineguy5896 5 месяцев назад

I spent30 days there visiting my sister, couldn't wait to leave.

@sues3218 5 месяцев назад

People are starting to leave.

@s99614 5 месяцев назад

They don't.

@francismarion6400 5 месяцев назад

I bought in 2013.

@IndianaEd 5 месяцев назад

Onlyfans 😂😂😂😂

@ricardcluter4765 5 месяцев назад

My State Farm agent advised me that I should call her FIRST, before calling the 1-800 number to make a claim. Because to call the 800 number, to make a claim, flags it as an unpaid claim and my premiums will go up, even though the claim is denied. As a result, I would advise anyone to call your agent FIRST, before making a claim.

@Ken-vl4wk 5 месяцев назад

Your agent believes that he or she can outsmart the system. Insurance companies have all angles covered. Your agent found a glitch in the system and it will be soon patched up.

@frankrusso2093 5 месяцев назад

All those insurance execs are living in Miami they need the money!

@Airbender-kl7cu 5 месяцев назад

And They're driving Lamborghinis

@AR-rn8ok 5 месяцев назад

Yea insurance profits and salaries are way up. If it’s required, it should be regulated better. We should have public option so these guys don’t feel so confident raising rates to infinity.

@gregorylyon1004 5 месяцев назад

Too many hurricanes in Florida. That's why

@difigfs 5 месяцев назад

We had 10 Bankrupt companies between Irma and Ian.

@AR-rn8ok 5 месяцев назад

@@difigfs still if insurance is required by law, then they shouldn’t be able to raise rates to infinity. Or there should be a way to guarantee the market is competitive.

@larrykoltun3703 5 месяцев назад

Also, Michael the choice of deductibles on your auto policies is going to depend on whether you have a loan. The lender usually requires a deductible no higher than a set maximum, which is usually pretty low. Usually $500 to a maximum of $1,000 or $1,500 for your comp and collision.

@puravida5683 5 месяцев назад

Great advice! I thought outside the box, and bought property in Central America. I'm closing on a property in Thailand next month. My savings are astronomical! One must go to where they are treated the best!

@gregorylyon1004 5 месяцев назад

Yeah but you are going to Thailand on the American dollar.

@imxploring 5 месяцев назад

The price for insurance is crazy.... especially for the rest of us that are being hit with higher rates to cover the losses/risk that insurance companies have assumed in areas like coastal Florida. As to the houses you showed us today that are in a high risk flood zone.... yet (from what I could see)... most were built on a slab at grade. Even in the mildest of floods.... the water is rolling right into the front door! No wonder the insurance rates are so high!

@9MagTV 5 месяцев назад

25k That’s Light. A New Construction House In The Suburb Of Austin (Spicewood) Insurance 33k HOA $7k And $71k Property Tax.

@kenchu5900 5 месяцев назад

hmm, maybe I am missing something, I just checked and I don't see any houses near Spicewood having anywhere close to $71k property tax.

@MichaelBordenaro 5 месяцев назад

Whoa !

@snackman2005 5 месяцев назад

Oh and don't forget the insurance companies guideline on roofs. We inherited a house from my dad a few months ago. The house is in the panhandle. I've already gotten the non renewal notice from State Farm. Getting insurance in FL you almost have to get a new roof. My dads roof is 19 years old and in perfect condition. So to make it easier on the buyer I am going to have a new roof installed. Got the quote today 13,325 dollars. To replace a perfectly good roof.

@jeltoninc.8542 5 месяцев назад

Yeah so much waste… humanity is driving itself into a big hole.

@The_Laid_Off_Life 5 месяцев назад

It would be good to send a bill for a new roof & just turn in the paperwork ...... All good 😂

@nelitatanner2277 5 месяцев назад

The RU-vid Realtors I listen to (one in CA and one in IL) both say "Do Not" replace your roof if it is not leaking or broken! They are telling the public that you won't recover that money. I question that too, but the ole saying "if it ain't broken, don't fix it" may apply here?

@snackman2005 5 месяцев назад

@@nelitatanner2277 Normally that would be true. But things are not "normal " in Florida when it comes to getting insurance on your home.

@gregorylyon1004 5 месяцев назад

Either way. Sell it

@Whatt787 4 месяца назад

Insurance on my $600,000 condo a mile from the ocean in Florida is only $4,000 a year

@SilverWatcher. 5 месяцев назад

In california del taco taco night will officially go from 3 tacos for 1.99 to 3 tacos for 3.79 yo thats almost double the peice for 3 tacos with 1 finger of greasy meat and iceburg lettuce, and a pinch of cheese. 😅😂

@hcox1111 5 месяцев назад

Wilted iceburg lettuce- and not deli cheese, the cheese that doesn't melt.

@marknewton6984 5 месяцев назад

Not worth it.

@BTC909 5 месяцев назад

$24 bucks an hour, oh opps I meant to say $20 bucks an hour.

@Boulevard_Yachtsman 5 месяцев назад

Michael, I've joined your club! My insurance company dropped my rentals - a couple of older multi-plex conversions. Luckily, my agent talked to the underwriter and things should be back to okay (for this year) if I crank the deductible waaaay up and submit a risk-management plan. Still no word what the new rates will be.

@fredk9999 5 месяцев назад

If not mistaken, flood insurance protects only structure and not landscape such as trees.

@kenb5279 5 месяцев назад

true that. !

@perrymeyer752 5 месяцев назад

Michael - thank you!!! I had no idea about HO3, DP1, DP3 type of policies. I'm calling my agent tomorrow! Cheers m8

@MichaelBordenaro 5 месяцев назад

Glad I brought it to your attention. I hope it saves you some money!

@justinlowry6522 5 месяцев назад

I've seen the writing on the wall for a year now, read the room and knew what was coming. Listed our home here in N.C. in January, it finally sold(hopefully! Contigent offer) . I thought we'd get a little more profit, but we're going to get just enough to buy a home in the Midwest, all cash. We had a locked in interest rate of 2.75 in a great area. But they're building every square inch and flooding the area with supply with these cookie cutter homes that all look the same in the subdivisions. We're going to ride it out for a few years, hopefully less, until it all comes crashing down. I hope we're making the right decision.

@networth00 5 месяцев назад

I did that in 2021, I'm still waiting for the crash... but things have doubled.

@GeorgeKennedy-u4r 5 месяцев назад

You're the best watch Mike. You really highlight the insanity going on with houses, especially in S Florida.

@ejduffy 5 месяцев назад

The way the insurance companies ‘talk’ to one another is via your lexus nexus report. I actually pulled mine once years ago out of curiosity.

@charmainmorrison8615 5 месяцев назад

You can freeze it so they won’t be providing information to each other

@ActualLivingHuman 5 месяцев назад

Another banger!! Very informative. We don't have to take it laying down!

@bryanspayde5681 5 месяцев назад

Wild ! Most people in this country only makes 25 k or less …

@cm467 5 месяцев назад

When a restaurant increases their prices, that is a sign the restaurant is looking to go out of business in 2 weeks. When the insurance company increases its prices, that means they are looking to get out of covering that area. Best bet, self insure as much as you can. Buy the house cash. If you do not have the cash, buy elsewhere (in another state).