PROOF! The Condo Market CRASH IS HAPPENING RIGHT NOW!

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Many Florida condo owners are getting hit with major special assessments and some of them are so high that they are in the six figure territory. Of course, a lot of people can't afford this so they are being forced to sell their units at massive losses. Here are some real life examples of this..
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26 июн 2024

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Комментарии : 1 тыс.

@MichaelBordenaro 11 дней назад

INSIDE THE RETAIL APOCALYPSE! ABANDONED STORE CRISIS! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-gShuEn78S-8.html

11 дней назад

Remember you said you got a "good deal" on the condo you bought? If you play your cards right I bet you can live rent free for 2 years whilst your equity melts away. No wait, your wife would kick your ass for ruining your credit rating. 😃

@helena20000 11 дней назад

🤗Michael Bordenaro💛

@violetlightburst 10 дней назад

Sounds like We Buy Houses gonna start making offers on Condo's in Florida ?

@guyanaspice6730 10 дней назад

Again, Thousands of REAL Multi Million n Billion Dollar Super Yachts n SHIPS on LEVEL SEAS; Yet, ZERO starSHIPS ANYWHERE. Many videos of REAL Super Yachts n SHIPS being Built; Yet, ZERO starSHIPS being Built in Space or ANYWHERE. Space Globe is BS. Tech Today, YOU can buy Long Range Cameras to take Real Photos and Videos of Objects Hundreds of Miles Away. Earth IS Flat. SMH Elites Enjoy True Flat Earth Reality While PEOPLE SUFFER, Not Living at all, in Elite's False Space Globe Reality.

@AFRoSHEENT3ARCMICHAEL69 10 дней назад

Apocalypse means to uncover and reveal. To the people who rule over us, it means destruction. Do you understand why?

@TheFlyingHaggis 11 дней назад

We're playing in a rigged game. I'm so fed up with it all.

@atb1325 10 дней назад

The game is turning into one of those horror games you see on RU-vid. You enter, but there is no escape...

@whydotheathensrage 10 дней назад

@@atb1325 Indeed, a satanic prison planet, which gives the illusion of freedom.

@rndmvar 10 дней назад

Everything that is happening now is VERY similar to what happened in Germany before 1933. It's even being done by the same families. And those families will tell you "my fellow whites", but then tell you they aren't, when the tides turn against them.

@jamespimental6919 10 дней назад

You will own nothing and be happy 😂

@turbotheamericanstaffy 10 дней назад

Glad my wife and I worked it out and decided not to have kids. Imagine this world in 30 years time.

@sts242 11 дней назад

Remember, " By 2030 you will own nothing and be happy" these evil people are serious as a heart attack and everyone thinks this is a joke. There are many ways to bring a society to its knees. Wake up this isn't a joke.

@jeanp5395 11 дней назад

Amen to that…true!

@hhinvest2819 11 дней назад

You scared?

@johncurtis920 11 дней назад

And in the end we're all dead. Including those trying to corner all the property, etc.. So what's yer point? 😉

@hellohey000 11 дней назад

I kept seeing this quote and just googled it. That's wild!! 🤯 So the elites have the next century already mapped out and we will basically have nothing, not even rights.

@jimcrawford3185 11 дней назад

@@johncurtis920 I think his point is to cash out and move to Cochise County AZ where one can hide in the mountains when the zombie apocalypse begins

@jjboohoo9641 11 дней назад

I used to think that once you bought a condo all you had to worry about was the inside cost. That is truly not the case anymore.

@blackworldtraveler3711 11 дней назад

You must not have done your due diligence and read the rules and bylaws. No different than a house when you neglect maintenance and do lousy upkeep.

@clairelivefreeordie2551 11 дней назад

@blackworldtravelexcepBut these condo owners were paying pricey condo fees all along, not expecting to be slammed later in life with these outrageous assessment fees....they know it's updoable. Maybe they should just stay & become squatters? 3711

@GigaChad_169 11 дней назад

@@clairelivefreeordie2551Those “pricey fees” were insufficient to cover the maintenance so they weren’t so pricey after all. The board and the owners tried to kick the can down the road and pocket the difference and it caught up with them. Any dwelling needs upkeep and maintenance, condominium buildings are no exception.

@ShadyD365 10 дней назад

I was never the case. Its just gotten worse especially in Florida where you can't get hurricane insurance.

@bencortez9907 10 дней назад

I thought the same and so did a lot of these condo buyers. It’s a shame how things change.

@brianl7017 11 дней назад

Even if the condos were free, the monthly HOA fee of $2,500 per month is still expensive.

@HiddenAgendas 10 дней назад

That's bullshit. People are going to flee Florida.

@blackworldtraveler3711 10 дней назад

Those very expensive condos people can pay that without worry.

@tbirdboy 10 дней назад

Never will move into an HOA. Worse than COVID.

@jcmelendez323 8 дней назад

i was curious to check why only 180k for a miami condo. And Bammmmmm 2.5k HOA. That's crazy

@ledzep3692 8 дней назад

That probably doesn't include property taxes and insurance either... But at least there's no state income in Florida. 😅

@deedevries1123 11 дней назад

How can they expect the average Joe to come up with over $100,000 of condo fees. This seems criminal.

@Evilslayer73 11 дней назад

Nobody can afford this ....tent city's are gonna grow up like in MAD MAX!

@fandam801 11 дней назад

@@Evilslayer73actually their beloved Desantis made homeless camping illegal to. I guess the Florida prison system will have to fix the fallout from this problem.

@BokeemWoodbeezy 11 дней назад

Pull themselves up by the bootstraps. Get a second job. Uber, DoorDash, etc.

@TBrown-zy2dr 11 дней назад

They should have been paying those assessments for years now. No one should live in that part of Florida. We the taxpayers are paying for their waterfront properties. I don't feel sorry for them at all.

@ihave35cents95 11 дней назад

@@fandam801 just be happy a Democrats not in there otherwise everything would be a Tent City.

@nicolasbenson009 10 дней назад

I'm hoping there will be a housing crisis so I can .buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

@berniceburgos- 10 дней назад

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

@tatianastarcic 10 дней назад

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

@BridgetMiller- 10 дней назад

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

@tatianastarcic 10 дней назад

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@eattherich9215 10 дней назад

'I continue to read and see trading earnings of over $500k each week.' That is not going to be you.

@brianf761 11 дней назад

I get calls every week pushing refinancing on my house. My theory is that if something is good for me, I'll call someone. If something is good for a bank, they'll call me. The caller usually sit in stunned silence when I answer that I don't need a vacation and don't need financing to complete a home project.

@Schnazola 11 дней назад

Brilliant! In fairness to the salesperson, though: Sometimes products or services exist that I am unaware of. It is possible that a win-win situation exists.

@freezerlunik 11 дней назад

Generally I agree; that said, it doesn't hurt to get a HELOC to make your equity accessible/available. The bankers are happy to offer an umbrella on a sunny day, but good luck getting them to approve you for credit if/when you really need to pull the money out without waiting for a sale of the house. This bit tends to escape people's minds. My folks had that mindset and I ended up spotting them during the pandemic because they were convinced they didn't need any credit available.

@rustybumperclassics6342 10 дней назад

💯

@threeftr3349 9 дней назад

@@freezerlunik You still have to pay some fees for a HELOC. Why have it sitting around like a open credit card? Your house should not be used as a credit card. The moment your house falls below a certain equity line, they will instantly close that HELOC account.

@freezerlunik 9 дней назад

@@threeftr3349 i just set it up right at the time of doing a mortgage and it costs nothing extra, only interest on what you borrow. The value is flexibility and your interest rate is radically (like 3-5x) lower than on a credit card.

@Juliet875 11 дней назад

Another Condo owner in Miami got an assesment of 224,000 and their HOA went from 1,500 to 3,000 a month. Needless to say they want out but no buyers. Worst investment right now in Florida. Thank you Michael and Happy Thursday!

@luck9837 11 дней назад

Desantis needs to put a stop to these hoas in florida they are going insane

@wxxw-pc7qq 11 дней назад

Tell him to go find some homeless people and rent it out to them even if not collecting the monthly payment

@jimcrawford3185 11 дней назад

$3K a month??! Hideous burglary

@steven4315 11 дней назад

@@luck9837 So who's gonna pay for fixing the old condos?

@viadharmawheel 11 дней назад

50 cents on the dollar time...

@georgetown8986 11 дней назад

The identical condo situation is happening in NY as well. Association fees have doubled or tripled, special assessments for aging buildings, rapidly dwindling demand.

@Horatio1886build 10 дней назад

I saw a really great deal on a condo in Florida about a year ago- thank god I did nt bite. There was a huge assessment in the works for massive water front concrete bullhead repairs foundation work and on and on.

@timgibney5590 10 дней назад

lol. CNN and others are reporting bidding wars and price increases are back! Rates lowering are bringing millions back in

@Oldeagle66 10 дней назад

I have been watching a condo in my area I am interested in for quite awhile. Been asking questions, doing research and everything before I do anything. I'm not just buying from my feelings or a good deal.

@donniemoder1466 9 дней назад

It crazy in NYC. Who are all these multimillionaire buying a small one bedroom for $1.4 million with $2000 monthly expenses?

@georgetown8986 9 дней назад

@@donniemoder1466 They’re not millionaires purchasing them. Millionaires are too smart to buy them and have the association fees that go along with them. These are middle class with a ton of very long term loans. They can finance their association fees as well

@edwardsuarez-ri5dz 11 дней назад

The developers have not found your old neighborhood.

@justinlowry6522 11 дней назад

The only developers that would buy up that land, would be wind farm/wind energy. They're all over Central Illinois.

@carylhalfwassen8555 8 дней назад

It’s Illinois. Residents are fleeing before Chicago evacuates.

@Jbridge621 10 дней назад

The problem with a lot of condos was that you had board members that were all older retired people who wanted the HOA fee to never increase due to their often fixed incomes. That meant over and over major repairs like central air boilers roofs structural problems were deferred over and over until the condos became in extreme disrepair and increasing dangerous safety problems. Then you had collapses and the government had to step in to require that condos maintain significant reserve funds for ongoing repairs. It’s gonna be painful in the short term but building budget transparency will hopefully improve. My condo is run very well with a fully funded reserve they had problems in the past but good management came in and established an appropriate budget and disabused any owners of a flat HOA that will never increase. We have quarterly open meetings on all repairs and ongoing issues. We debate ways to keep our costs down without downgrading our luxury condo.

@danpan001 11 дней назад

Move back! It is so peaceful and beautiful there.

@novadhd 7 дней назад

yea but winters are brutal . He wont do it unless a summer home lol

@danpan001 7 дней назад

@@novadhd that is why snow birds stay in the South during winter

@bonniemartenez5294 11 дней назад

I remember riding the bus one hour and 15 minutes and still had to walk home in the desert. The school was only 12 miles away! First pick up, last one off. Terrible.

@Prophezora 11 дней назад

😮

@justthink5854 10 дней назад

makes it worth riding a bike.

@matt7iron 11 дней назад

Your Hood as a kid is a dream for young boys, i had similar house and area of land in San Diego 40 yrs ago and boys being boys out and about is a great memory of all the bikes, skateboards, firecrackers, baseball, football, and other things we got into.

@clairelivefreeordie2551 11 дней назад

I miss those days too...the world was a much kinder place

@pamelamehl5668 10 дней назад

The mid to late 80s in San Diego were the last of the perfect days there.

@matt7iron 10 дней назад

@@pamelamehl5668 Dan Fouts, Charlie Joiner, Wes Chandler, Kellen Winslow, Chuck Muncie and Don Air Coryell is all my Dad use to talk about.

@plica06 9 дней назад

I've fallen in love with the idea of living in San Diego. The year round great weather, beaches and proximity to great places to explore. But looking at home prices and cost of living there I think I'm about 20-30 yrs too late being able to afford to go there.

@ledzep3692 8 дней назад

Same here... after seeing a $400,000 price tag on a mobile home built in 1975 plus the trailer park wasn't modern looking at all either. This was back in 2021 when I stopped looking after seeing that price tag. 😅 @@plica06

@kimfxer 11 дней назад

Real estate market crash is unstoppable

@nicholasblakiston6297 11 дней назад

I believe many neighborhoods and towns will become completely abandoned as people migrate to seek income opportunities and no buyers are available. For land to regain real value, we will need economic freedom to be productive on that land.

@Evilslayer73 11 дней назад

undeniable

@jayjay-bz3rr 11 дней назад

Real estate market crash is REAL

@Rich-lu6pd 11 дней назад

No kidding. Every bubble bursts. The question is when will it happen, this year or in 20 years?

@jimcrawford3185 11 дней назад

@@Rich-lu6pd Both?

@DannyWalker247 11 дней назад

Heard a $100k assesment story this morning on a condo here in the Daytona Beach area. One owner who is a retired teacher says she will have to go back to work to get herself out of this. The new law requires these condos to have large maintenance reserve that has to be funded.

@mikimiki195 11 дней назад

Who’s gonna pay old lady $100k

@IP0Monsturd 11 дней назад

@@mikimiki195ask Joe Biden to forgive your debt. Just hand that debt to the taxpayers.

@viadharmawheel 11 дней назад

@@mikimiki195 Only the school system otherwise Walmart time...

@JathraDH 11 дней назад

My parents condo is also currently stuck in this problem over 50k assessment.

@tracymorgan5386 10 дней назад

@@mikimiki195first you don’t know her age( plenty of teachers retire in their early to mid fifties but plenty work into their seventies) because the education system is one of the few places that are not toxicity obsessed with youth and frankly sometimes prefer to hire experienced older teachers with a good salary and I believe she would not have to pay the whole amount right away, so she would probably have to work for a few years to pay the full amount.

@Nikotromus 11 дней назад

Everybody should have a goal to live on a property with no HOA. It's liberating.

@MrSteeDoo 11 дней назад

Pretty hard to do with a condo.

@BeardedVeteranMechanic 10 дней назад

I'll sleep in an RV before I live in an HOA

@blackworldtraveler3711 10 дней назад

I like the amenities with my condos and can afford it. Spending the summer in Lugano Switzerland viewing the alps,snow,lake,palm trees,from my windows/balcony and cooler temperatures away from Oklahoma and Florida heat without worry is liberating as well.

@Nikotromus 10 дней назад

@@blackworldtraveler3711 - If you can afford it, that's great. I think HOA's will continue to turn the knob up on you, so you will need to keep affording --> more. I see HOA's as a key player in our "you will own nothing" future.

@blackworldtraveler3711 10 дней назад

@@Nikotromus Nothing complicated. Just enjoying life. Retired (FIRE)in my 40s. Red pilled. Immune to divorce,child support,family courts,etc.. Great family,girlfriend,friends,neighbors,etc.. I don’t own this Italian villa and have no issue.

@denisep.98 11 дней назад

Fun walk through the old neighborhood!

@Horatio1886build 10 дней назад

I like his old neighborhood! Big yards, nice quiet country setting but enough neighbors so you don't feel isolated and worry about your loved ones if you travel for work etc .

@RG-xi3rd 10 дней назад

Dude I'd rather live in the area you grew up than in Florida living on top of each other. And at the beach everything you own gets attacked by the salt water. The beach is fine to visit, but I have no desire to live there.

@skepticalmechanic 11 дней назад

My rule for the last 40 years was NEVER BUY A CONDO NO MATTER THE PRICE!

@Patrick-yh5yd 10 дней назад

Century village in florida is still a good place to buy.

@goombah226 10 дней назад

I hate the idea of going back to sharing walls and ceilings with other people. Maybe as a second home to sublet, but probably not even that.

@RichardBurke-qd7vi 9 дней назад

I doubled my money with a condo. It was more a townhouse style building but still a condo. Bought it for 139k and sold for like 265k maybe 5 years later. HOA was reasonable and did their due diligence with the funds and future planning, the prices made sense at 139k.

@skepticalmechanic 9 дней назад

@@RichardBurke-qd7vi not worth the risk and the economy is different now along with the laws…

@angelaroberson4805 9 дней назад

That is my life lesson too!

@Chirita008 11 дней назад

I could really go for a nice green and quiet neighborhood like that. I'm sick of all the traffic and mayhem of living within city limits. Thanks for sharing! 🌟

@SpicyKimchi- 11 дней назад

I feel you on that

@metoo5004 11 дней назад

So beautiful.... I feel ya

@Oldeagle66 11 дней назад

Agreed, I'm considering moving back to my old rural Michigan village.

@donaquixote 10 дней назад

I moved out of the western suburbs of Chicago to a small town in southwest Wisconsin and it is the best decision Ive ever made, for me. Its not for everyone, but I enjoy knowing the folks here and we watch out for each other. The peace and tranquility and small town values are amazing.

@vickijohnson9367 9 дней назад

There are tons of neighborhoods like Michael was raised in, just outside the metros, over the county line of suburbia. But, you will most likely not have public (formerly) water & sewer. So, to find one without septics and wells is not easy. Septics and wells are expensive personal property utilities to maintain as they age. I’m lucky to be in a good one. If you get 3 acre lots, expect to spend a lot of time riding on your lawnmower, and weed whacking, like it’s a hobby.

@SirCarlosMusicBMI 11 дней назад

🎉🎉🎉 This is so awesome that you’re sharing a part of your past life with us. I’m sure that everyone will enjoy this video. Blessings,Carlos ✝️🙏❤️😊🇺🇸

@MichaelBordenaro 11 дней назад

It was really cool to get this blast from the past.

@SirCarlosMusicBMI 11 дней назад

@@MichaelBordenaro A $134,K assessment?? That’s insane.

@waskyhenry6306 11 дней назад

@@MichaelBordenaro Very nostalgic 😁

@helena20000 11 дней назад

@@MichaelBordenaro🌟

@TOCC50 9 дней назад

@@MichaelBordenarowas the pool there growing up?

@alanzamora6504 11 дней назад

Taxes * assesments * insurance * how can anyone survive these prices 😮

@vickijohnson9367 9 дней назад

WEF plan “You will own nothing and be happy”

@plica06 9 дней назад

My understanding is that you cannot have both property taxes AND assessments. If you own a house you have to pay property taxes. If you own a Condo you have to pay assessments.

@novadhd 7 дней назад

they cant thats why only uber wealthy are there and everyone else moving out.

@Norm475 11 дней назад

When I was looking for a home in Naples during the last housing crash, that is exactly what I did. If I had access to a housing complex, I would drive in and look for someone walking around, I would then introduce myself and ask if they were a renter or owner and do they like it here. Gather as much information as you can. If I saw a police car in a driveway and a guy was outside mowing the lawn or just sitting and enjoying a brew I would do the same thing, first I would verify that he was a police officer and then ask him about neighborhoods that I should stay away from. It is very important to gather as much information as you can, the more people you talk to, the more informed you will be. When you walk up to a stranger to gather information, always introduce yourself first and extend your hand, act like a friend. If you do it correctly, most people are very nice and helpful.

@RomanVarl 11 дней назад

Did policeman tell you about supervulcano under the city too? )

@Norm475 11 дней назад

@@RomanVarl No, he didn't. Of all the things to worry about, an alleged super volcano under Naples is not one of them. I put that in the same category as the climate change bull shit.

@Incognito-fe8cw 10 дней назад

Can't DeSantis do anything to stop the corruption, or outlaw HOA's altogether ?

@redtiger7268 10 дней назад

@@Norm475 Well the volcano is real and I highly doubt the US surgeon general is going to try and force "volcano lockdowns" like he is going to do with "climate lockdowns" in the next few years. The odds of the volcano going active are something like 0.00001 or something like that.

@william-fla-321 10 дней назад

I did they same thing and its been a wonderful neighborhood going on 30 years.

@TripleJJJ38 11 дней назад

$134,000 special assesment should be illegal

@clairelivefreeordie2551 11 дней назад

Yes it should. What's with the condo association for doing this now? There should be a cap of say $50k for any structural issues & even that should be payable over x amount of years. To spring this on condo owners at one time in this economic climate is just plain undoable & will wipe out how many thousands of condo owners financially.

@steven4315 11 дней назад

So who's gonna pay for required repairs?

@viadharmawheel 11 дней назад

@@steven4315 Money for reserves should have been collected all along. The low HOA fees were an illusion in the long run.

@Schnazola 11 дней назад

Yeah. Heads need to roll.

@wowzers1069 10 дней назад

@@clairelivefreeordie2551 The condo association isn't doing it, the state is.

@inquirer1016 11 дней назад

Never ever buy a condo. Not only it's apartment living, but there's also the evil HOA, monthly HOA fee, special assessments, appreciation problem.

@irenebykovsky5478 10 дней назад

In Miami if you want to live on the ocean the alternative is 30 million dollars houses. And living away from the ocean is torture. Hot humid mosquitos around a year.

@barberdoug6930 11 дней назад

Buying a Condo in Florida is like buying a Seat on the Titanic 😂

@daraledet542 11 дней назад

Well said😊

@mikedavison4313 10 дней назад

Almost right. "... is like buying a seat on the titanic AFTER it has hit the iceberg."

@bibleisholy7170 10 дней назад

Not the newer ones

@wowzers1069 10 дней назад

Not all condo complexes have these problems. I live in a complex that needs no special assessment after having the state structural study. Right on the ocean and a great place to live. That said, I'm hoping people freak out and sell their places, want to pick another one up.

@kwesifrimpong-boateng9327 9 дней назад

@@wowzers1069Same. No special assessment and right on Ocean Drive

@kathysanders3915 11 дней назад

Rather own the land with a house that is not dependent on my neighbors to chip in for the upkeep 😂

@Cfrancis1968 11 дней назад

I bought the family home. Lived from a child to 21 years old and came back at 34 years old, back in 2002. So 43 of my 56 years, here.

@gteixeira 9 дней назад

You were lucky to be 34 in 2002. I really regret going to middle school back then instead of buying houses.

@l.ls.8890 11 дней назад

Who is going to buy a condo in Florida these days with all the 10-X assessment looming in future per unit.

@blackworldtraveler3711 11 дней назад

Every condo isn’t 60 years old. Three condos were sold the past 12 months where I live and there’s still a waiting list. The mid rise building is 18 years old and not on the water but has a marina and canal to get to the gulf.

@VittoShulman 10 дней назад

Rich people from New York and Colombia.

@blackworldtraveler3711 10 дней назад

@@VittoShulman Also Brazil,Canada,and several European countries including several dozen states.

@nellyjohnson7316 11 дней назад

The place you grew up at will always be a part of you.😢

@ImVeryBrad 10 дней назад

Taking equity from your house is such a bad idea. Im paying mine off and never paying on it again

@justinlowry6522 11 дней назад

Just moved back to my hometown in Illinois to ride out the "S" storm that's coming. Bought a house straight cash. Property taxes are unfortunate but we'll make due. God i hope we made the right decision!!!!

@justinlowry6522 11 дней назад

From N.C. where we really loved it. But everyone moving there and raising costs , but wages not even coming close to matching cost of living.

@katethielmann4244 11 дней назад

People leave Illinois not return, unless they have to.

@justinlowry6522 11 дней назад

@katethielmann4244 I'm aware, I got out 12 years ago. Midwest is the only affordable area left though. Financially it was our only option where family would be.

@Holyheart1 10 дней назад

Taxes here in Ill are crazy so your saying that there just as bad in NC ?

@justinlowry6522 10 дней назад

@Holyheart1 price of living is too high in N.C. where we were. Homes starting at 400k or more and wages extremely low.

@strokeracp1 11 дней назад

STOP 🛑 Your house is not an ATM❗

@freezerlunik 11 дней назад

depends what for. Selling a house once your emergency fund runs out is less pleasant than tapping into a previously set up HELOC. Using home to buy toys and experiences/luxuries -- sure, that's bullshit. But people need to know how to work the system, because ooh boy does the system work us regardless of us wanting it or not.

@zekeriya84 10 дней назад

HOA fees sky rocketing, how people afford to pay that ? There will be a storm of foreclosures.

@rogueirl 11 дней назад

government needs to get their hands out of trying to control pricing on things, it causes serious problems for economies

@brent4073 9 дней назад

btc will reprice everything in real terms to their correct values

@ppiriou 10 дней назад

My HOA increased from $390 to $430, 10% increase just like that.. I guess I'm one of the few lucky ones!

@SuntoryPop927 10 дней назад

The majority of condos have been maintained properly. Nothing is perfect but these buildings that have done nothing are not the normal.

@hexfreedom3614 11 дней назад

Always nice to go back to where you grow up.

@marcdb9974 11 дней назад

My childhood bus ride would have been like that, but I decided to walk home instead. I used to get passed three times in an hour by that bus, and it arrived in my subdivision at roughly the same time I arrived on foot. Mom split the saved bus fees with me, so all the better. Nowadays they might put her in jail for not ensuring I was properly supervised at all times.

@Schnazola 11 дней назад

When I was 12, I rode the NYC subway from my home in Queens to midtown Manhattan. FOR SURE my folks would be in jail.

@ladycactus110 10 дней назад

From the age of 10 to 16 I had to take 2 city buses (15 minute walk and 45 minute ride each way) in a city that shall remain nameless and was 90% not my ethnicity, which shall remain concealed. Would have loved a school bus.

@wednesdaytheblackcat7385 10 дней назад

I walked 20 miles to the bus, which I was always 5 minutes late for. So, I had to walk the other 20 miles to school. But, it was worth it. I saved up enough money to buy an unbelievably priced condo, located practically in the ocean, in Florida. Looks like everything is going my way 🤪 … But, seriously, I was the first and last on the bus for school (for a couple of years). It sucked.

@soniabayer578 11 дней назад

People need to live within their means.. period!!

@ibrahimcehajic 3 дня назад

Always the working class living bellow their means, never ever the ruling class,yet the working class is the one providing everything for everyone not the rich

@Neopitpit 10 дней назад

With all of these mess. I prefer to rent. I can adapt and move anytime.

@pinschrunner 11 дней назад

2 hours on a bus versus sitting in traffic in Miami. At least there were no tolls on the bus,

@KathyPamela 11 дней назад

Love your unique style, never change!

@AssetAddict 11 дней назад

Lol. Be real. You like him. Not the value he provides.

@JetJ321 11 дней назад

Beautiful neighborhood and corn fields. . They look like big lots too.

@vickijohnson9367 9 дней назад

Septic fields require space.

@SirManselus 10 дней назад

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.

@Charlotte-ew6sw 10 дней назад

A robust strategy is crucial for any investor's portfolio. When it comes to making high-stakes decisions, the greater the risk, the greater the potential reward, and it's wise to seek guidance from seasoned professionals.

@ramosace 10 дней назад

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

@Daisy-yr6ez 10 дней назад

That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?

@ramosace 10 дней назад

My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@Daisy-yr6ez 10 дней назад

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

@jackwilson3121 11 дней назад

What it tells me is that I will never buy a condo in Florida.

@carylhalfwassen8555 8 дней назад

I think a condo at or under three stories can make sense IF HOA meeting minutes demonstrate that there have been reasonable reserves made for all projected maintenance and replacement. We lived in a condo community in FL that had housing units of four dwellings per site. Upper units had 3 bedrooms, lower units had 2 bedrooms. Some single car garages but most two car garages. Our board was very diligent in getting contractor and engineer estimates every 3-5 years for maintenance and replacement (like roof). Then there was the pool equipment repairs and replacement. We were very confident in our HOA management and the market seems to have been stable despite the issues with Oceanside buildings as we were a few miles inland.

@tizzx4945 11 дней назад

It's so quiet and peaceful in youre old neighbourhood Michael!😊

@Cyberdemon1985 10 дней назад

If the special assessment is $134,000 and the unit is worth $100,000, do you just abandon the unit to save $34,000?

@ozo012 10 дней назад

Will likely start to happen in much greater numbers and the condo association will never get their $$ for the special assessment

@movdqa 11 дней назад

I always warn potential condo buyers about the divide between owners that want to keep the development well-maintained and those that want to spend the minimum amount. This is really a problem when the number of units is low and when you have a 50-50 vote. I'm a big fan of condos because I like all of the maintenance that's done for me, having good streets, trash pickup and landscaping, good sewer, etc. We pay for all of that; not the town; so we don't have to get into town politics to get the services that we want. One of the best parts about condo ownership is economies of scale. When we want to replace all of the roofs or siding, we get a great deal on crews that just come in and do building after building after building.

@fredk9999 11 дней назад

Thank you to our host for this wonderful outdoor walking presentation. Happy homecoming

@michaellalanae7228 11 дней назад

Insurance companies took the whole thing down. Once the first one failed every inspection that company did came into question. Upon inspection of other buildings the answer was clear a lot of condos are on the verge of collapse as well. Sea air causes rebar to swell making the concrete fail too then comes the human pancake. I found an arm .

@dinapage1 11 дней назад

It was recently admitted that we are in a double bubble. Pre Corona we were in a huge bubble then post Corona the bubble built-up even worse. A double bubble means twice the disaster. We need to get it over with so the future generations have a chance and we all can rebuild to something sustainable that makes sense.

@CroisMoi 10 дней назад

The biggest problem is the comps are crashing in that complex. So desperate sellers are driving the prices lower every time they sell one. The units are mostly the same.

@russellseilhamer4552 10 дней назад

It’s so flat in your old neighborhood, Mike. A far cry from where I live in PA. It does remind me of when you go into western Palm Beach county on SR80 heading out to Lake Okeechobee and if the sugarcane is cut down, there’s just an endless green flat landscape for about 20 miles before you get to Belle Glade and Pahokee

@mikechoi1577 11 дней назад

It is funny, people from small to medium sized towns used to always say to me "in 20 yrs this place will be a big city" but alot of these places are actually going backwards. Huh.

@plica06 9 дней назад

You're right. There's a whole fascinating back story about how we expected things to pan out in a rosy way to benefit everyone but in reality some places just die out and turns out many places that flourish just get un-affordably expensive.

@abbylea2359 10 дней назад

Love our panhandle condo! Only 2 stories, no elevator and excellent management company. I’d stay away from large complex’s but don’t be afraid of everything!

@hejiranyc 10 дней назад

At my oceanfront co-op in Ft Lauderdale, the monthly maintenance increased this year by $12/month and we were just assessed $6,000 per unit to comply with the new Florida regulations on funding reserves. I consider myself lucky!

@sleepy670 10 дней назад

I have a buddy that got a $160,000 assessment on his condo and nobody could afford to pay it so they had to take out a loan and everybody's maintenance fee increased by $1,600 a month and they were already paying $1,200. So now they're paying $2,800 a month in maintenance fee but rents in the building are around $3,500 so the property taxes and maintenance fees and upkeep are more than the rent that they're getting. The unit's used to sell for around $600,000 now they're selling for only $150,000. This all happened in just the course of the several years. It blows my mind that people even buy condos. Everyone knows that condos are worthless with the insane cost to maintain them. The only thing that will appreciate is land and you don't have any land in the condo You just have a little box in the sky that's falling apart. It needs tons and tons of maintenance and you'll never actually make money. Hopefully it won't bankrupt you.

@blackworldtraveler3711 10 дней назад

You posted a good story but not the name of the property. Why?

@elliotoliver8679 4 дня назад

@@blackworldtraveler3711 what difference does it make?

@blackworldtraveler3711 4 дня назад

@@elliotoliver8679 I own a condo in Oklahoma and Marco Island with zero issues. Wanted to look it up and compare…..if it’s true.

@blackworldtraveler3711 4 дня назад

@@elliotoliver8679 Confirmation. Would like to check size,year when built,distance from water,etc. if it's true.

@marieschulenberg9166 11 дней назад

Wow! $134K per unit assessment charge in FL is extreme but greed is the downfall for buyers/sellers who continue to pay exorbitant prices. It’s artificial appreciation on a piece of paper.

@SALESPRODUCTIONS 11 дней назад

Anyone who intentionally chose to buy and live in a Condo is profoundly unintelligent. SAME with ANY home in an H.O.A.

@Schnazola 10 дней назад

Let's not be silly. There are millions of people living in condos who are quite intelligent and who are quite comfortable and worry-free. And there are HOAs that are managed well and provide a level of comfort and security.

@richardball7251 10 дней назад

If there’s a contract there are too many carriers that will take the scraps instead of fighting for their rights (they have no patience)

@mikeifyouplease 10 дней назад

Michael, visually your old neighborhood looks GORGEOUS!! Huge, really huge lawns and green-scapes everywhere! Frankly, I thought that this is where all the millionaires live. The only really "jarring" aspect to the neighborhood was how it dead-ends into and is surrounded by... vast farmlands.

@orion6704 11 дней назад

I would never buy a house or condo with an HOA few. That's foolish😮

@calvinreichelderfer7989 11 дней назад

Even if you sell your house for only $40,000 more than you paid for it 20 or 30 years later, he still didn’t lose because if you would’ve been renting, he would’ve paid a lot more and never recoup any of it

@plica06 9 дней назад

Thanks for stating this. Sometimes Michael over simplifies things and ends up saying things that aren't 100% accurate. Of course they were still better off owning but still what a shock for a home to increase so little in value over such a long time period.

@morganhill2586 8 дней назад

No. Look up amortization. . Basically the first 5 yrs your payment goes straight to interest... Not including homeowners insurance.. grass cutting , maintenence on the home ... etc...

@calvinreichelderfer7989 8 дней назад

@@morganhill2586 What is 30 years of rent if you are the tenant?

@wespotter6985 11 дней назад

Refuse to pay and let the condo foreclose

@CatDaddyMane 6 дней назад

I listen to your videos in my air pods at work almost everyday. I gotta say, it's a depressing realization....but I'm glad someone is actually speaking honestly about our situation.

@rodneywalden5358 11 дней назад

I'm from Indiana, retired in Florida, and looking forward to a short vacation away from the heat and humidity of everyday living in the sunshine state.

@corneliusva 11 дней назад

I'm currently living in Florida and I've never been to Illinois but that's where I'm at right now visiting a friend. I'm actually looking forward to going home but it's been a nice visit with the weather being less humid

@johnr2273 11 дней назад

I think the rural Midwest with all the land will make a comeback. Reasonable values , Fresh Water and less crowds

@MplsMaven 11 дней назад

@@johnr2273a lot of the water supplies in Wisconsin and other states are contaminated with fertilizers. Make sure you install a water filtration system.

@brianshaheen1138 11 дней назад

Has it ever occurred to you that they WANT to empty a building by assessing people out?

@Marva123 11 дней назад

I like you showing us your old neighborhood Michael. I recently did a tour of my own neighborhood where I grew up, very nostalgic.

@kevinpratt-ge5ye 11 дней назад

Your story about riding the school bus was hilarious. I was the first stop myself, only I was the first off. I hated riding the bus. It gave me a good laugh, thanks. 😂

@yellowbird5411 11 дней назад

I think it is a TERRIBLE time to buy anything at all. This next year is going to show us some very important things. Our economy is in a mess and getting messier. We cannot rely on anything, because they keep changing the laws, adding fees, adding assessments, adding taxes, adding whatever. We are being squeezed to death. Real estate, both commercial and residential is so uncertain right now that if I had all the money in the world, I would not invest. I have invested in real estate before, and the old saying, "Buy low, sell high" is still pure gold advice. That is not a formula we can do now. Just wait. Don't be sorry later.

@marionalbergo1146 11 дней назад

Hey Michael….keep walking right onto Cali I lived in palm Beach for 25 years doing real estate the entire time. Yes I was in the right place at the right time I’m out and waiting. California is my target for now. So, good luck and keep these videos coming - you’re the best

@AbcDef-iq4no 10 дней назад

"Assessment" is a very polite way of saying forced renovations. This whole thing is just so draconian.

@blackworldtraveler3711 10 дней назад

Owning a house it’s called going in debt.

@imperialkhmer6146 10 дней назад

But many people say owning a home is not wasting money. 😂.

@brent4073 9 дней назад

This is like saying the cost of installing fire exits on concert buildings is draconian. Like the Surfside Collapse killed 98 people instantly... when they were sleeping... in their home!!!!

@blackworldtraveler3711 9 дней назад

@@brent4073 I remember that guy sleeping in his house and a sink hole swallowed him and part of bedroom. Don’t think they ever found him. Look it up. People have been killed in their sleep during California earthquakes and tornadoes in Midwest as well.

@AbcDef-iq4no 9 дней назад

@@brent4073 The problem with these "assessments" (forced improvements) is that it sets a precedent of what a particular state can demand of any property owner. For instance, say there is an apartment building collapse in Oklahoma and suddenly every apartment complex owner is given an "assessment" to do major foundation, roof and wall support upgrades. Who do you think he or she will pass on these costs to: the tenants living in these complexes. Or what if a residential home collapses in Iowa, and the state then decides to give "assessments" to every single home owner to make expensive structural upgrades, regardless of whether these homeowners can afford it. The point is that these types of "assessments" are a slippery slope and by their very design are the epitome of draconian. What next, "assesssments" given every home owner to add expensive landscaping or lighting because some politician in a particular state saw an ugly house one day?

@tomjones2348 10 дней назад

My wife and I have friends that were comfortable in 2019. Now they are upside down. Thanks, Michael.

@deedevries1123 11 дней назад

Wow, love where you lived when you were growing up. I was never impressed with Florida but I could live in your home town with all the green space.

@corneliusva 11 дней назад

When you get towards the northern part of the State of Florida there's a lot more trees and hills. I mean I'm gulfside inland north of Tampa and I couldn't be happier

@Kuulei265 10 дней назад

How about the Winters??

@rapidfirerepublic 11 дней назад

I've been seeing pockets of homes all over the country drop in price significantly just this month. A couple houses I was watching in GA dropped between 75k an 85k in one day while only been on the market for 30 days or less. Something is happening for sure. Can you imagine how devastating it would be to buy a house for 515k last month, only to have it's value drop to 430k this month? Maybe lower next month? Brutal.

@johnnymidas5879 11 дней назад

I GREW UP WITH A CORNFIELD IN MY BACKYARD TOO!! BATAVIA, ILLINOIS ❤

@iworkout6912 11 дней назад

Your old neighborhood makes me think of the movie North By Northwest with Gary Grant and Eva Marie Saint. Which I believe was mostly shot in Illinois on a road like you pointed the camera down. The endless corn fields and flat as a pancake land. Thanks so much for showing your old neighborhood. I know we can never go home again, but those times were the best for me growing up, since I lived in much the same sort of place.

@vincentortega4284 11 дней назад

johnny that sounds cool

@johnnymidas5879 11 дней назад

@@vincentortega4284 IT WAS, ONLY 12 HOUSES IN MY NEIGHBORHOOD, WE PLAYED HIDE AND SEEK IN THE CORN, ROAD BIKES EVERYWHERE, FISHED ACROSS THE STREET, AND NIEGHBORHOOD HOCKEY IN THE WINTER.. IT WAS GREAT, YOU HAD TO LEAVE THE HOUSE TO FIND ADVENTURE.. ... AHH, THE LOW TECH 70'S ON A COUNTRY ROAD.❤

@michaeloconnor6683 11 дней назад

Me too sorta, red barns and corn fields a short bike distance out of town, Wisconsin, now nothing but houses and Starbucks at every corner. Ruined

@corneliusva 11 дней назад

It's kind of interesting to me that a lot of Illinois outside of the areas around the lake have fallen into such ruin or had the properties bought was to create more warehouses or data centers. Bensenville I'm looking at you

@user-ys6nw5ju9j 11 дней назад

Business smarts with midwestern values this dude cant lose

@fiorespinal7038 11 дней назад

Just add a family (i.e. kids)

@davidmann2524 11 дней назад

Lol dude has no business smarts...maybe on the Midwest scale

@MrSteeDoo 11 дней назад

Business smarts? Does he have a real job?

@CroisMoi 10 дней назад

Can we not just be nice? If you don’t like him, don’t watch! I enjoy him.

@DCFloridasport 11 дней назад

Great eye opener Michael, So many people will have to face reality soon and it’s going to be a financial calamity, safe travels brother!!

@Hawkeye-xg5of 11 дней назад

I would much rather live amongst the corn and soybeans than Miami chaos. Miami is nice to visit but I wouldn't want to live there. Too expensive.

@waskyhenry6306 11 дней назад

Too expensive and chaotic 😔.

@debbiec6216 11 дней назад

that neighborhood where Michael used to live at , very quiet , clean . There's nothing wrong with those homes , we are watching in the background of this video.

@R.I.F.T. 10 дней назад

I have worked for several Fortune 500 companies and the reason these companies post phantom job postings is to cover the company from lawsuits. It is standard practice when hiring a specific person for a position to list the job opening for 45 to 90 days or more even though the job was never taking applicants. My bosses would even list jobs as taking applications after someone was in the position. This helps with discrimination lawsuits and claims about favoritism.

@nowlaterkiss9811 10 дней назад

Good to know!

@zachlafond2652 10 дней назад

Also most hires are internal

@4flyguyeli 10 дней назад

Thank you for these videos. It’s so refreshing to get current events from a non-mainstream media source, especially from someone who is just barely old enough to be president rather than somebody who is already on borrowed time. 😂

@MichealMadu-vp7ll 10 дней назад

The condo market crash has been hitting hard lately. Prices are dropping fast.

@PE-ox7hv 10 дней назад

Home insurance rates have gone up quite a bit. A lot of unhappy campers in South Florida right now.

@lorivalentine5846 11 дней назад

Michael, you should go knock on the door and introduce yourself to those people. They’ll probably let you and hanging out. That’s what I would do if I was back in Connecticut.

@iworkout6912 11 дней назад

I would love to do the same thing, visit the house I grew up in. A small village that has changed little since I left to go to college. Walked by it a few times, but never got the courage to do that. Its 200 miles away from where I live now, so I only visit the area for funerals now of family members who are fading away.

@duanepac 11 дней назад

I grew up in Beloit and as a teenager worked in Rockford and Loves park..in the 70s…before the rustbelt days..

@rodneywalden5358 11 дней назад

The governor and legislator need to get a grip on taxes and insurance in Florida. What brought people to Florida has disappeared, and people/families are leaving. My situation is different, but I find myself constantly looking at my debt to income ratio and how living where I do in Florida negatively impacts our personal finances.

@MrSteeDoo 11 дней назад

What do you want Gov Short Stack to do about insurance? Do you hate the free market?

@rodneywalden5358 11 дней назад

@MrSteeDoo how about off setting the cost with the rainy day funds.

@francismarion6400 10 дней назад

@@rodneywalden5358By lowering taxes? That might happen.

@coolcatfunhouse 10 дней назад

Right now ocean front condos in Daytona Beach are asking $199,000. But the HOA and INS will kill you!

@jasperdeguzman3060 10 дней назад

Michael, I appreciate the transparency! You’re a G 💯

@mikesrandomvideos 11 дней назад

JUST THE START......Things are going STRAIGHT DOWN.....Hold on TIGHT....its going to get ROUGH

@yossibersano6451 11 дней назад

I bought a condo in my early 30th in Denver , 2/2 26 years later ( few months ago ) I bought a condo in Florida right on the water 2/2 . The price reflected the current downturn and assessments to come but it was the same price I paid 26 years ago in Denver !!! So for me I feel it is still a good deal compared to many other cities in the USA. Love your channel Michael!!!!

@lorraineperron4840 6 дней назад

No fire sale and it is far different than 2007/2008. WHY, because condo fees have doubled and tripled, insurance costs have gone through the roof, repairs and reserves on most buildings are out of control so no real estate agents are willing to say that if you think you need $1500 a month then double the money to meet all the other expenses so you actually need $3000. I had no mortgage and I was priced out of my condo just because of the huge increase in condo fees, insurance, repairs, and taxes, huge. Just moved to Europe at 73 years old since USA is out of control.

@StzaCrizzack 5 дней назад

The 2024 housing market in Florida is an absolute disaster. Long time locals have no chance of owning something decently priced

@bovnycccoperalover3579 11 дней назад

I hate change! I am an older person but even as a kid, I hated change, probably from watching things go downhill since the mid '60s.

@sdrape4964 11 дней назад

1968 for sure. 1961 if you lived in Detroit.

@bovnycccoperalover3579 11 дней назад

1964 when Johnson went into Vietnam; started his Great Society and embezzled monies from Social Security. Nixon was no better. Went into Laos and Cambodia and got rid of the gold standard. You can name the number of good presidents in one hand.

@topicalstormofficial 11 дней назад

“Progress.”

@MrNiceGuy500 10 дней назад

I’m the same way… psychologist even tried to give me a condition. No it’s just I don’t like change for the worse

@OzziesRobots 11 дней назад

This is BS do your due diligence before you buy. Buildings that needs new roof , stucco etc are obvious 🙄

@jackiemansfield8325 6 дней назад

The middle of nowhere is where good and real people were born

@catherinealvarado3258 10 дней назад

I enjoyed the trip down memory lane! I'm in Texas, and I too, looked out my window and saw a massive cornfield!! My grandpa planted that and more!! City life is different...I sure miss my grandpa 😢

@jonmajewski6867 11 дней назад

Old buildings should sell for less.

@hvaball150 11 дней назад

How about Old cars Old paintings Old jewelry Old weapons Or old anything... When you buy an old house you generally are buying location and land.

@Schnazola 11 дней назад

@@hvaball150 Right. The land (usually) appreciates. The box of sticks always depreciates. It's no better than an automobile.

@hvaball150 5 дней назад

@@Schnazola some yes. Some no. An old house can have more value that it's purchase price, thus appreciate. It doesn't ALWAYS depreciate. Just like anything on my list. Some old cars are junk. Some are worth quite a bit. My final point was they are a package deal regardless. Valuable land had a house on it, even in rural areas.