Florida more expensive than Great Falls? I don't know how anyone plans to retire there

[Anonymous]

Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

[Anonymous]

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Many are getting called back to their offices in the places they moved from. WFH is ending.

[Anonymous]

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Apart from the WFH decline, I think the shine of living in Florida has worn off for a lot of people. The hurricanes, insurance costs and the overall culture are off-putting to a lot of people who thought it would be a stress-free utopia. There's a reason why domestic migration to Florida is veering into negative territory.

[Anonymous]

Anonymous wrote:I'm seriously wondering how people are planning to retire in Florida these days. I currently live in the Langley High area in an 8000 square foot home, probably worth around $3 million. When I started looking at homes in Florida Fort Lauderdale, Miami, even Orlando I was shocked to see prices often higher than what we have here in Great Falls, and for homes half the size.

Where are the savings? I always thought Florida was supposed to be more affordable, especially for retirement. But from what I’m seeing, that doesn’t seem to be true anymore.

I ran the numbers on a $1.5 million home in Fort Lauderdale, not even on the water, and even with the house fully paid off, the monthly carrying costs (insurance, property taxes, and HOA) came out to around $3,000 a month. That’s without a mortgage. Unless you’re renting part of it out, how does anyone afford that on a retirement income?

What happened to Florida being a retirement haven? Is anyone else seeing the same thing? I’m genuinely curious how people are making it work.

I spend 3k a month on landscaping. Seems you’re not in the wealth bracket you thought you were.

[Anonymous]

Anonymous wrote:I'm seriously wondering how people are planning to retire in Florida these days. I currently live in the Langley High area in an 8000 square foot home, probably worth around $3 million. When I started looking at homes in Florida Fort Lauderdale, Miami, even Orlando I was shocked to see prices often higher than what we have here in Great Falls, and for homes half the size.

Where are the savings? I always thought Florida was supposed to be more affordable, especially for retirement. But from what I’m seeing, that doesn’t seem to be true anymore.

I ran the numbers on a $1.5 million home in Fort Lauderdale, not even on the water, and even with the house fully paid off, the monthly carrying costs (insurance, property taxes, and HOA) came out to around $3,000 a month. That’s without a mortgage. Unless you’re renting part of it out, how does anyone afford that on a retirement income?

What happened to Florida being a retirement haven? Is anyone else seeing the same thing? I’m genuinely curious how people are making it work.

I don’t want to live in Florida. If buying retirement property it will be in another country.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Apart from the WFH decline, I think the shine of living in Florida has worn off for a lot of people. The hurricanes, insurance costs and the overall culture are off-putting to a lot of people who thought it would be an stress-free utopia. There's a reason why domestic migration to Florida is veering into negative territory.

Another common theme is that there are relatively few decent paying jobs for younger people.

I don’t quite understand it because of course there are many hospital/medical jobs and Miami/Palm Beach now has a fairly large financial sector.

I guess there just isn’t much manufacturing or large companies based in Florida?

[Anonymous]

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

[Anonymous]

Anonymous wrote:Tampa native here. Plenty of cheaper housing if you aren’t focused on just one part of the state (west coast is the best coast anyway).

Here’s a new build in St Pete, not in a flood zone, has a pool, no HOA, $1.15, taxes $10k per year.

https://redf.in/Sc4QkI

I clicked on this at random. I’m sure there are plenty more examples.

SRQ native here... That seems like a crazy price. Did you look at the street view?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Tampa native here. Plenty of cheaper housing if you aren’t focused on just one part of the state (west coast is the best coast anyway).

Here’s a new build in St Pete, not in a flood zone, has a pool, no HOA, $1.15, taxes $10k per year.

https://redf.in/Sc4QkI

I clicked on this at random. I’m sure there are plenty more examples.

SRQ native here... That seems like a crazy price. Did you look at the street view?

Again…last sold in 2022.

Just a ton of homes that were only purchased 2 or 3 years ago.

[Anonymous]

Anonymous wrote:The very wealthy are buying up those expensive homes, including many wealthy foreigners.

The not so wealthy buy smaller condos, and they are also hurting due to the high insurance costs.

Rich Chinese and Ukrainians are buying up lots of the most expensive properties, especially the Chinese.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

They’re lying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

They’re lying.

PP just randomly posted something in Tampa…last sold in 2022. Go click on all sorts of listings and you see similar trends.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

They’re lying.

Yes, the Wall Street Journal -- that noted bastion of left-wing thought -- is lying. Cope, snowflake.

https://www.wsj.com/real-estate/florida-cape-coal-home-prices-3f64a0df?gaa_at=eafs&gaa_n=ASWzDAj4qatVGdg5tIUYly4P4WX9rpwLZgCKLkCSvEvFI-8FAwpWq504EeBUCmTLhx8%3D&gaa_ts=6888b12b&gaa_sig=Aso1lnMgm55p8Vu83tIDtad5xLDxAXkQH8-mq7qB3KNUZFU9VodFfb2HFvIpUJRnrdKl214L5_FSH6b78shoGA%3D%3D

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

They’re lying.

PP just randomly posted something in Tampa…last sold in 2022. Go click on all sorts of listings and you see similar trends.

I’m a Tampa native (and not PP) and look at a lot of listings there—I’ve noticed it too. I wouldn’t be surprised if there were stats backing it up but haven’t seen them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone have a clue why so many people that purchased just 2 or 3 years ago are all trying to sell?

Where are you getting the numbers on this?

They’re lying.

PP just randomly posted something in Tampa…last sold in 2022. Go click on all sorts of listings and you see similar trends.

I’m a Tampa native (and not PP) and look at a lot of listings there—I’ve noticed it too. I wouldn’t be surprised if there were stats backing it up but haven’t seen them.

What is crazy is that folks are trying to get gains of 30%+ in two or three years…and the homes just sit.

Sometimes the listing will claim signifiant renovations so I get that if true…but the Tampa listing above was new in 2022 and I doubt any improvements were done.

That house also isn’t in what looks to be a vacation part of town, so can’t imagine it was somebody who was trying to rent it.