Florida Residents are Getting CRUSHED

Florida has Manhattan rents at Mississippi wages. Insurance companies are tired of annuual disaster payouts.

We're retired snowbirds and bought a condo in Cape Coral on 2013. For 7- 8 years , it was very affordable and definately much cheaper than renting for the winter season. But the last 2-3 years has seen steady HOA increases, massive insurance increases, as well as rapidly escalating realty tax and services rates which has made the advantages of ownership alot less advantageous over renting. With the ever increasing threat of weather events combined with the above(+ a slowing economy & persistent inflation), we decided, a number of months ago, to list our property for sale. Luckily, we sold it in Dec. and any return trips to Florida will be as renters only. Your video makes imminent sense and hits all the pertinent points. Thanks for your insights.

Moved from North FL to South FL in 2019. Modest home. New roof. In an HOA. In that short period of time, our HOA fees have doubled from $200 to $400. Our property taxes have doubled from $5500 to $11,500. Our home owners insurance has quadrupled from $2200 to $8500. Insane!

Moved to FL in 2020 and out in 2023. It’s too expensive to live there.

I’m a Florida nurse watching this clip on my lunch break in Boston Ma. I just spoke to another Florida nurse yesterday (from her job in Georgia) and she warned me car insurance has just doubled as well.

Example I'm a 65-year-old man 95% of my income goes to just living I do not drink I do not smoke I do not go out to dinner every bit of my paycheck goes to rent utilities food gas insurance Wonder why people are leaving no choice

Have condo in Port St. Lucie tried for 6 months to get a renter no one could qualify,gave up now selling it because I don’t want to take a chance of a tenant becoming a squatter 😮!!

Sorry folks, but prices need to crash by 30 to 40% to get the market back in line with affordability.

It's not only taxes but house/car insurance is just going wild, no one is doing anything about it. They can charge you what ever they want

Market is unsustainable. Out of state buyers are not stupid and will strat to negotiate the prices now. No locals who can buy. Insurance will remain a problem for a long time. And if a hurricane hits Fl, prices will further escalate. Thanks for your video 😊

Wages in Florida have traditionally $ucked. How are people who work in the retail and food industries supposed to live there? They can’t and will have to leave. Then all you’ve got left are people in the healthcare and space tech industry. That means no restaurants, clothing stores, or retail in general because those jobs don’t pay enough to live there.

1. People got stuck with overpriced cars. Thinking the values will only go up 2. People are about to get stuck with overpriced homes 3. Game over

Unless you are a super high net worth person, you don’t want to live on or near the ocean as the property insurance is sky high and the sea air corrodes and erodes everything.

We're having the exact same problem in Sneads Ferry, NC. I've lived in my home for 8 years. My total mortgage is $600 more per month than it was at the time at purchase due to increased taxes and insurance. And I have a FIXED 3.75% interest rate! I get a letter every year from my mortgage company stating there is a shortage in the escrow due to increased taxes and insurance. 😢

I’d like to live in Florida or Texas, but I can’t see myself paying THAT much for homeowners insurance and property taxes. INSANITY.

Ben, you are spot on. The value proposition in Florida is gone. As a retired SE Michigander I can afford Florida. However I will not pay the excessive costs for a little extra sunshine. It simply makes more sense to visit whenever we choose. In every expense catagory a retired person measures expense and they are saying no. The residents unfortunatley cannot afford basic housing. In Michigan, yes they can afford basic housing, it still tough but doable. Florida, not happening.

Wow! Eye opening about housing costs in Florida. I heard about insurance premiums going sky high too. It's getting to expensive to live anywhere anymore. We're getting priced out of affordability in America. The next generations may live in an unstable society.

I am west of Chicago now. Illinois is simply not worth the cost of living here.

Great Video. I have been living in Florida since 1959. Since the last 3 years I see the struggle many of my friends are going through due to the increasing Property Taxes, Home, Flood, and vehicle insurance increases. This video is a great heads up for people moving to Florida.

That flood insurance is going to be a killer.