Youtube comments of Robert Rochester (@RARochester).
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Listen people; there will not be a crash or correction in Florida. This state is too ATTRACTIVE for there to be a crash; we've survived 9/11; the Great Recession of 2008 and Covid 19. So long as there is a dearth in housing units, the real estate ( RE ) market will remain steady for the foreseeable future. In South Florida there are three ports of entry; Port of Miami; Port Everglades and Port of Palm Beach along with three International Airports to include Miami, Fort Lauderdale and Palm Beach. South Florida remains a gateway to South America and the Caribbean and with no state tax ( already mentioned in the video ) and low sales tax ( relative to other states ); the RE market will continue to be a great investment vehicle among all the asset classes.
The sellers will have to get their heads out of the clouds because the pendulum is starting to swing in the favor of the ( few ) buyers that are in the market. There will always be sellers ( people trying to cash out; divorce, death, layoffs or job relocation ) and the buyers will have their pick and leverage to negotiate a realistic price; some housing units are sitting empty due to some being second homes and others that are restricted because of Homeowners Owners Association bylaws stating no renting/leasing for the first year or two of ownership. This may be an attempt at curbing AirbnB but in any event; the landlords both corporate and Mom and Pops will enjoy the tax write offs of these empty housing units.
People are moving into Florida from everywhere and not just the Northeast but from South America ( particularly Brazil, Venezuela, Colombia and Ecuador to name a few ) as well as Ukraine and Russia along with transplants from California and the middle states. Florida has several NFL, NBA, MLB and NHL teams along with Disney World and Key West and all along the Gulf Coast of Florida whereby it's all appealing to practically every demographic you care to mention including the retirees. So no, the RE market will stay strong and the locals that are forced to move out will be replaced by the rich moving in; which in turn stabilizes prices. The high interest rates can be written off by both landlords and home owners ( for those that can afford it ) so again, the buyers will be few and so will be the sellers ( so called Golden Handcuffs ) which keeps things steady going forward; relax people.
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@RevOzzy First, work on your grammar; second, you implied that things were better under Biden; third, what facts that I stated were wrong ? Since Biden has been in office gas has gone up, fact. Car insurance has gone up, fact. Grocery bills has gone up, fact. Housing is unaffordable for most, fact; property taxes as well as home insurance has gone up, fact. All of the facts I stated apply to MOST Americans and understand this, Trump couldn't have won WITHOUT Democrats ( some of them are your neighbors ) voting for him. You state anecdotal evidence that's not based on data points all over the internet; continue living in your bubble because if Harris had won; you would've been TAXED out of your home; you would have been forced to sell, believe it.
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Number 1 is just an ABSOLUTE idiot.
Just to piggy back on " Old Guy Who Shouts At Clouds "; men do not need women for anything. Men can clean, cook and do their own laundry. The world will do just fine if there's NEVER another female doctor, accountant, lawyer, investment banker, etc. But, the world stops the moment there are no longer any " carpenters, plumbers, electricians, welders, engineers, farmers, ranchers, innovators " AND construction workers, roofers, landscapers, tow truck drivers and bulldozer operators... etc. Society would cease to exist without men.
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Let's make sure we keep things in perspective and not be misled by this video. What's listed below is JUST for the state of California; it was a simple Google search:
Less than 2% of single-family homes are owned by investors with 10 properties or more, statewide, according to the California Research Bureau. What institutional investor-friendly markets have in common: Rapidly growing populations and relatively low real estate prices compared to rents.Mar 7, 2024
Here's another reference; again, from Google:
According to a report by JP Morgan Chase, there are 50 million residential rental units in the United States, but 41% of them belong to mom-and-pop landlords or "individual investment landlords." In other words, mom-and-pop landlords oversee around 20.5 million rental properties in the US.May 13, 2024
Yet another; this is from the National Rental Home Council:
Single-family rental home companies own approximately .19% of the residential real estate in the United States.
There is not one state in the country where single-family rental home companies own more than 1% of the housing inventory and only four states where they own more than 5% (Arizona, Florida, Georgia, and Nevada).
Of the 23 million single-family rental homes in the United States, single-family rental home companies own approximately 1.16%.
NRHC: WwW.HOME RENTALHOMECOUNCIL.ORG
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@Navarrete-TJ Very few disasters ? You mean the wildfires that I've lost track of all the names then the mudslides after; I lived in LA county for five years and it sucked for every one of those five years; homeless people everywhere including Holmby Hills, Brentwood, Culver City, Santa Monica, Venice and all along the riverbed. Traffic was hell no matter if you were on the 10, 110, 5, 105, 710, 101, wherever you go traffic. Parking was almost always a nightmare and there is practically no one who hasn't received a parking ticket at one time or another; no doubt there's tons of top schools out there but UCLA and especially USC and CSULA you have to go through the sh*t areas to get to the school. Loyola Marymount not so much because it's up on a hill. There's a homeless problem in ALL three of the major cities San Francisco, San Diego and LA. You have to leave SoCal and head to Mammoth Lakes to get some respite from the grime. I know a TON of people that left Cali for Austin, Boise and Phoenix just to name a few........California's hey day is over; even Elon, Joe and Jeff left.
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Of course and I’m glad you asked; it tells me that you’re open to reason. Trump (1) used tax cuts that benefited everybody by doubling standard deductions from $6k to $12k which puts more money into everybody’s pocket (2) he secured the border and kept out the freelloaders including the murderers and r@pist’s. Unfortunately, Biden tore down ( rescinded ) these policies that kept US citizens safe, however, since Biden took office, Larken Riley of Augusta University was killed by an illegal immigrant from Venezuela (3) he held our allies accountable, everybody is your friend when you’re picking up the bill. The US pays 80% of the budget for the UN and 100% of the budget for NATO the last time I checked. Trump wanted our “ allies “ to pay their share of the bill and that upset a lot of people. The fiscal and foreign policies he enacted proved beneficial to many US citizens. We weren’t engaged in wars and there was relative stability around the world. When Trump was in office, inflation was a non factor and now it’s decimating the US economy and by extension the economies of countries around the world. The US is the largest consumer nation; ask Japan, China, Germany, Korea and even Saudi Arabia how important a healthy US economy is to their nation. We buy MB’s, BMW’s, Honda’s, Toyota’s, Kia’s as well as electronics like Sony, Hitachi, etc. The manufacturing jobs have benefited China to the point it is an economic powerhouse. I could go on but you get the picture. Since Biden has been in office EVERYTHING has gone up in price from cars to homes to property taxes to homeowners insurance to car insurance and just the general cost of living has gone up due to the mismanagement of the US economy. I think you get the picture….
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@kwanman5146 Of course, Trump through the use of tax cuts doubled standard deductions from $6K to $12K which benefitted a lot of people including you and me. He kept the borders secured and thus kept US citizens safe; since Biden has been in office, Larken Riley, an Augusta University student lost her life because of an illegal immigrant from Venezuela.
He insisted that our allies start to pay their fair share of the bill; eighty percent of the UN's budget was paid for by the USA and 100% of the budget of NATO was paid for by the USA last time I checked. Always remember; everybody's your friend when you're picking up the tab.
The fiscal and foreign policies enacted by Trump benefitted a lot of people around the world. A healthy US economy is VITAL to countries like Japan, China, Mexico, Germany, South Korea and Saudi Arabia to name a few; how so ? Well, we purchase MB's, BMW's, Honda's, Toyota's, Kia's as well as electronics like Sony, Hitachi and others; the US is the largest consumer nation and if it weren't for the US the aforementioned countries would not be where they are today with regard to their economy and world standing. The manufacturing jobs in Detroit have been exported overseas particularly to China and Mexico. All of this is common knowledge but people get into their emotions when it comes to Trump.
There is NO denying that the cost of living has gone up for 90% of Americans from housing, property taxes, homeowners insurance, car insurance, HOA fees to grocery bills. There is no DENYING those facts no matter what the Biden supporters have to say; I'll stop here because I could go on and on but you get the picture.
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I really don't want to hear this sh!t about millennials having it tougher; they didn't have to suffer with their jobs shipped overseas ( China in particular ) that led to the downfall and " rightsizing " of Detroit and the Big 3. The millennials didn't have to suffer through Pan Am, Eastern, Sears, Kmart, JC Penney, Woolworths along with Drexel Burnham, Bear Stearns, Enron, Worldcom, Lehman Brothers all out of business laying people off.
They're bellyaching about Tesla, Google and Salesforce laying off ??? Welcome to the real world.
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@BoraBongs Yeah, it's called an economy; no different than when Lehman Brothers, Enron, WorldComm, AlliedSouth, Stanley Financial, Drexel Burnham, Bear Stearns and Arthur Anderson went the way of the dodo bird. Let's not forget Eastern Airlines, Pan Am, Kmart, Jordan Marsh and JC Penney laying people off back in the day not to mention Detroit and Appalachia suffering massive job losses. The rust belt cities have undergone massive changes; have I left anything out ? Are you getting the picture. This is LONG overdue.........these are my thoughts twinkle toes with blue hair.
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