People Have STOPPED BUYING FLORIDA CONDOS!

The condo sales in Florida have now dropped almost to the levels that we saw right after the 2008 housing market crash while simultaneously. The inventory has also reached pre-pandemic levels. This is most likely a recipe for a housing crash in the condo market.

======
My Filming and Editing Equipment
======
I offer 1 on 1 calls, book one if you'd like!
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
======
Get Cash Back on ALL your Internet Purchases!
======
My Microphone (Lot of People Have Asked)

Articles Mentioned in the Video

#realestate #housingmarket #homeprices #housingmarketcrash

FTC Legal Disclaimer - Some links found in the description box of my videos may be affiliate links, meaning I will make commission on purchases you make through my link. This is at no extra cost to you to use my links/codes, it's just one more way to support the channel! :)

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 YouTube 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, YouTube, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[shellylofgren]

High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.

[OldsmobileCutlassSupremeConver]

It's not that the properties are worth more.
It's our money is becoming worthless.

[MichaelBrown-nyet]

It’s amazing that the pyramids in Egypt are still standing after over 4000 years but we can’t build a condo that’ll last much past 75 years.

[TheNetwork]

HOA Dues and property taxes are through the roof nationwide. Especially Florida ! Condos are No Bueno ☝🏻

[greasebellygarage]

When I met my wife she had a brand new condo in the Sarasota area we got married she moved into my house and we kept her condo it is paid off free and clear. Now the board members are all fighting over raising the assessments so they can expand the clubhouse from 27, 000 square feet to like 38, 000 square feet and they just did an extensive remodel on it like 4 years ago. Moral of the story, if you buy a condo for cash it still sucks owning it.

[nicolasbenson]

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?

[bluenetmarketing]

I lost 26% on a condo in Florida. The HOA was a living HELL and no one wants to own in Florida anymore. Renting is the ONLY way to go. I lost well over $100k owning a condo in Florida. It is a fools game.

[kingscairn]

You can't own it if you don't control it

[cavalieroutdoors]

Gallagher said it best:

They needed some Dough. They needed a Con. They came up with the Con-dough! It right in the name!

[Cyberdemon]

I would buy nothing that has HOA fees.

[edhammond]

Michael is a smart, down to earth guy, who can articulate complex financial situations to lay people. A great talent and a great contribution to our society. I’m 70 years old and trust me. This guy knows what he’s talking about. Thanks, Michael.

[michaelparman]

Great show today Michael….as an investor for 40 years here in Colorado I know a lot of property developers including Richmond Homes and a friend of mine that works for them, a VP, he told me this past weekend that they are desperate to sell their new builds…reducing prices by $40-50, 000 AND buying the rate down for the entire 30 year loan…we ARE being totally lied to…thanks for your hard work 😊

[Francisco-pocf]

So glad I didn’t buy a condo in Florida.

[chip]

For perspective, $140k in 1986 is worth $403k in today's money (BLS CPI calculator), and it's listed at $2.6M

[peterdaniel]

Truly a terrible time to buy anything unless you get it at dirt cheap prices.

[jimmyboyles]

Corrected Title: Noo Yawkers have STOPPED BUYING FLORIDA CONDOS! 58% of Florida residents are from Noo Yawk!

[JohnGalt]

Mold is a huge problem in Florida. Stop spending overall for 18 months, sit on that money!

[Cinthia-gkip]

The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

[anthonygarland]

Think of the amount of money insurance companies in general make off condo owners. The scam in practice goes sideways when the public at large runs out-of money. And here we are.

[KathyPamela]

Your commitment and humility shine brightly in your content. Keep inspiring!