Rents Are Insane

[Eeko156]

Originally Posted by City Guy997S

Prices won't drop if the cost to buy homes/condos doesn't drop first

Exactly....and it doesn't look like that is going to happen anytime soon.

[Eeko156]

Originally Posted by floridarebel

I don't know how people afford these places.

I don't know, either. I am moving out of state when my lease is up because I can't make it here. I know rents are increasing everywhere, but Florida has lower wages combined with higher rents.

[huitrecouture]

Originally Posted by kramco

I use Zillow. Seeing your recommendation for realtor I went there and attempted to sign up. It seems to be for realtors and requires real estate agency and realtor ID number....... Or am I missing something? Is realtor for people who aren't agents? And if so are there any advantages over Zillow or some of the other apps like Redfin?

EDIT: on the other hand, it does seem to show lots without signing up. Just viewing with out logging in shows plenty of listings.

No it doesn't WHAT? LOL It has nothing to do with realtors.

Sign up. You can save your favorites then sign up for alerts for new listings. For buying or renting.

What the heck. Why are you even ASKING about advantages just do it. What are you worried is going to happen

[City Guy997S]

Originally Posted by Eeko156

Exactly....and it doesn't look like that is going to happen anytime soon.

Low interest rates are driving sales which further elevate the comps to new levels of insanity. On a 30 yr 2.8% mortgage what difference does 50K more borrowed really make ($205 a month)......no big deal.

Where the fun stops is insurance.........Flood as gotten re-written after 10/1/21 so a lot of people are in for sticker shock and if the place is financed then the "shock never goes away!" $1200 flood last year is suddenly $4800 this year, increase of 300 a month, then the always increasing windstorm/regular homeowners insurance. Suddenly 200 more on the MTG/300 more in the flood, few hundred more on the windstorm and uhhh ohhh the "budget" is blown. Now prices stall, wobble a bit and sales go flat with people thinking the big crash is coming. Banks get nervous start looking at loans more carefully and now we got a problem..............

Banks will now take private flood insurance (prior to this year it was FEMA flood backed policies only). Private flood insurance is backed by no one but the actual company so if they get a bunch of claims they go broke and nobody gets paid. FEMA is backed by the government so they never run out of money. This is going down a dark path if it becomes the norm in financing.