The Great Florida Migration is Reversing

Lots of homeowners are gonna have to take a huge loss in order to unload their homes. The economy is so bad that its gonna take a long time to recover if we ever do. So sitting hoping for things to change for the better isnt the thing to do. Unless you can afford to hold on to that house for another 10 yrs give or take.

People are leaving because it is a den of racism and hatred which denies climate change. Can;t wait until it is under water.

If you bought a home/condo in most of Florida in 2021-2023 you most likely overpaid and should expect to take a hit if you need to sell now.

Only immigrants are moving to Florida, millions of them. Florida is a third world country.

Have to keep in mind that appreciation is normal at 3%. People think they can price a home 20% higher than they paid in a recent sale. A lot of this has to do with seller expectations and buyers thinking they will get 50% off. There will be a balancing of the market at some point.

Tampa news sources will always antagonize Florida due to politics. I dont doubt that migration is reversing, but that article is crap and does nothing to explain why or elaborate.

Good video / information

Of course the hurricanes don’t help matters when you’re trying to get potential buyers, but the real problem is sustainability. The middle class can no longer afford homes anymore. Because inflation, interest rates, insurance premiums and employers not paying livable wages. It’s like that everywhere unfortunately the working classes being out priced out of everything!

This is a blessing. Been here over 30 years. It’s grown and grown and then COVID happened and now it’s ridiculous. Yes, please reverse course and go back to where you came. Sorry. Not trying to be mean. It’s just so full and we don’t have the roads

But what I really want to know: How's the DeSantis campaign against men in dresses going? Now that's important. That's where precious time and energy needs to be spent. Not on secondary concerns such as housing.

Buyers are not leaving FL, the property is just changing hands ! As owners leave new ones come in , likely corporations. The strange and ominous thing about what is driving people off (the storms) is that they are striking areas (multiple times) that have not been hit for decades! Very strange indeed ! Most of these areas around the Big Bend were the last affordable shore front property left in Florida and they suffered direct hits 3 times in a row in less then 13 months! Prior to 2023 when Idalia hit, it was almost 73 years since one hit that part of Florida! Then BOOM all of a sudden it gets hit three times in a row! It almost defies logic as the probability of a storm hitting the same exact area in less then a 13 month period is less then 1% ! according to historical data and statistics.

I am in Texas, my house has been on the market since July and no bites. I suspect it maybe to the outcome of the election a few days from now. Once again, Ben spot on content!!!

You want your home values to go up but don’t want taxes and insurance to follow value gains?

It would be interesting to know how much of your area is in an at risk flood zone.

My Nephew in NC says they are seeing more people (and this was before the latest hurricanes) who moved to Florida from the Northeast and now are moving to NC, so they call them "halfbacks". Now we have seen, in Western NC, people still getting hammered by hurricanes.

Good, we’re moving down next year from Minnesota.

People are simply delusional. It is an extremely tall order to ask someone to pay substantially more for your house than you did in 2021 when interest rates, property taxes and insurance have doubled - sometimes tripled - since then. Most of these people putting their houses on the market for absurd prices wouldn't qualify for the very house they're selling right now. I'm in NE FL and prices have stagnated as inventory builds up. These small price drops are meaningless in this environment.

Only wealthy millionaires should move to Southern Florida to have a house on the beach because they can afford to pay the high house insurance premiums and deductibles.

Let the institutional investors run for the exits so that the housing market can become more affordable for the poor middle class wage earners who are struggling to buy their first homes in Florida.

We left south Florida for Mississippi in 2004. Florida is beautiful, no doubt about it. And, it has a lot of things going for it, like great boating, vibrant Caribbean food and culture and a lot of other great stuff. But it just became too darned crowded. I lived 11 miles from my office in Miami and I was putting in 3-5 hours a day in my car on the commute. That's insane. I miss Florida, but I don't miss the traffic.

Great information as always Ben.

There needs to be a property tax revolution in this Country. Once your children are no longer attending public schools, you shouldn't have to pay school taxes! We home schooled, so we received no benefits from those taxes.Let those who benefit pay the taxes.

Ty

Everyone is so excited that their house prices go up every year until their taxes and insurance are adjusted to the new prices. It will keep going up until only the upper 1% can afford Florida.

Florida will most unlivable… sad

Lol good riddance! My home is paid off and my taxes are low. Bye bye

Great news. Please don’t come to our state

Who wants to live in FL?
Hurricanes yearly and insurance rates sky rocketing.

The land of stupid always disappoints.

If you think that Florida has become overcrowded by people moving there, it is possible that some of those people would like to move back to where they came from, but can't afford to do so. The solution is obvious. An effort should be made to provide such people with Sarco pods.

Florida has always been overpriced and overrated.. for who wants to leave you won't be missed and don't let the door hit you where the good lord split you and for the rest these hurricanes are going to weed you out!!!

The artificially inflated rents should start coming down yet, so that a ONE bedroom rents for a price STARTING with a ONE.......

Florida will BE FINE.

This is the worst state I've ever been in. It's a big corrupt cesspool. Nothing good here

people bet the farm on moving to fl. ( advertizing worked ) . Now the suckers are trying to hang on trying to find another sucker ( loving it ) . it's not going to happen but it's fun to watch.

Gee you think people are maybe waiting for interest rate decline!

Disagree - Florida is just as popular as ever. The difference is the poor economy and high interest rates. Cash buyers are coming in mass. People in over their heads in payments are the ones leaving. Why? Harris and Biden have screwed up things so bad but the good times will be back in 2025 when freedom returns with President Trump. America is back. Goodness and a much better economy is coming soon.

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

Gave up on Florida years ago. Oppressive heat half the year

Florida is returning to swampland. It's about time.

Ben,
Can these realtors be any more unprofessional ?
marked this house up $800,000 on 10-31 and discounted it $800,000 on 11-1
Not your listing and I'm not going to name the guy...

$1,195,000
-$800k
3
bed
2
bath
2,148 square foot house
9,600 square foot lot
347 Segovia Dr, Punta Gorda, FL 33950

Yearly Hurricanes Outrageous insurance rates if you can get it High Crime Rate and Corrupt Republican Politicians. You can have Florida

When Ian hit Florida, I expected the insurance premiums to hit the ceiling. It took 2 years for that to happen.

For most of my life, I have dreamed of being able to retire and buy something on the beachfront, somewhere along the Florida coast. I am now 62, retired, and have been working and savings since the age of 12. I have skimmed and saved, with the goal of being able to one day move to the Florida coast, and buy a small cruiser boat. My current net worth is supposedly considered to be in the top 10% of the nation, (~$4 million) and there is no way that I feel comfortable in being able to afford to buy those things today. It is shocking and very depressing. If even I can’t afford to buy a small waterfront property, and boat, how many others can expect to do so?? It is a shame to have skimped and saved my entire life, amassed what I had assumed would be more than enough to have been able to retire and relocate to coastal Florida, and now have my dreams crushed.

Our neighbors own a second home in Florida. Despite their second home only experiencing only minor flooding they decided to sale.

DeSantis and the weather has hit FL very hard and made it less desirable. FL will recover and better times will come.

Bye, everyone. Hello, fair market value.

The most important thing that everyone should think about now is how to invest in different sources of income that do not depend on the state.especially considering the current real estate cryptocurrency market,stocks,NFTs and forex are good area to explore thanks Mrs Sophia for coaching me

Florida is BEAUTIFUL and has BEAUTIFUL beaches and nice weather nine months out of 12!

Insurance expense and HOA fees are getting crazy too.