Florida Owners Dumping Flood Homes | But Who is Buying?

Concrete and Rebar after 100 years and a little water is concrete and rust. Add a little salt water and take a few years off that 100 years.
A lot of Florida houses use concrete and rebar for the foundations and walls.
Nothing lasts forever, just ask an archaeologist.

DON'T BE THE LAST SUCKER LEFT HOLDING THE BAG.

❤TY Ben, Won’t a NO Trespass sign and warning at own risk safeguard property owners?

Dumpster fires

Who needs more reasons to not want to live in the hell hole of a state?

I own a waterfront home south of Tampa, with damage, and am approached weekly by investors. People will build a Cat 5 building and rent it to vacationers.

They are absolutely selling. Plenty of buyers everywhere by the way.

Just wait. More properties will hit the market and drop the price.

They figured that the flooding and condemning of the house increased the value $1M 😂

No normal home lot is worth 2.5 million and the taxes and insurance you would pay on it. When you get older, believe me, you don't want to live on or near the beach especially with flooding risks.

Great job Ben! Also buyers better be getting mold inspections if buying previously flooded houses!

$2.5 Million? I'll pass.

Has anyone heard these lyrics to a famous song?- "You've got to know when to hold 'em, know when to fold 'em, know when to walk away, and no when to run"? If not, I suggest you Google it! A practice very few have the discipline and knowledge to follow.

2.5mil.. nope.. just to rebuild next year with the next hurricane.. nope..

Maybe 2.5 thousand.

1st home: Not worth $1mil…a depression coming.

Only the rich will be able to live on the water as the few places regular folks were still holding on to is getting a lot smaller Look at the mobile homes they are cheap and easy to replace yet these are the one they governments do not want in here as the taxes are a lot lower.

lots of denial

NO!

I wouldn't buy anything anywhere in Florida in a designated flood zone, or closer to five miles from the ocean, or in any type of evacuation zone. It would have to be on high ground and concrete block construction. You couldn't pay me to own that Englewood house.

99 cents

You'd have to be a total Idiot, to buy anything of the sort!!

That home was literally on the beach, no barrier to the water! They need to raise it up on stilts.

The entire planet EARTH is buying this that's who is buying. And you are here right now today SPEAKING to that World! That WORLD has money and LIVES IN ABSOLUTE SQUALOR PERIOD trust me i know been there done that😊😊

Whoever pays $2.5M for that little piece of sand on the water, is either wealthy enough to not have to worry about any type of future financial loss or a complete moron.

Who in their right mind want to buy this 😂 Florida is trash

Your area is one of the most depressed real estate markets in the country. But I wouldn't equate what you are seeing to the rest of the state of florida, like you indicate in most of your headlines, as though you speak for the entire State and what's happening.

I Engelwoodn’t

lol there’s lotsa “Estate Sales” today…. go Yardsalers!!

Water front should be high end motor homes drive away from the future and no hone insurance

2.5 for a lot packed into surrounding lots? you come out and you have neighbors breathing down your neck? Crazy .. Go to the KEYS NOW and get a canal front home where you can park your boat that was built to newer code...

I go by those apartments being built whenever I go to the store.

Climate change and rising sea levels will make properties in low lying areas and coastal areas impossible to insure. Banks will be reluctant to give a mortgage for 15 or 30 years because the property may be under water. Selling properties to average buyers will become impossible in the future as banks and mortgage companies stop making loans for these properties. Coastal areas are a high risk for insurance and extreme weather like hurricanes. People will have to self insure and take the risk of loss. Condo associations are losing their insurance and if they find a new higher cost policy they will be passing on the higher costs to association members. Flooded cars from hurricanes fill the salvage lots. Insurance companies will raise rates and pass on the costs and risks to policy holders next year. Coastal properties will be confined to wealthy individuals that can buy properties with cash and self insure for losses from hurricanes or rising sea levels.

Climate Change is making weather events more extreme. This will impact the worlds food supply.
Floods, droughts, fires, excessive heat, snow storms and low water levels in reservoirs and in ground water storage are becoming more common. We must stop adding more fossil fuels to the climate fire.
India, China, Brazil, Japan, US, Europe, Indonesia, Canada, Germany and Australia need to do more to reduce use of fossil fuels. They must stop building and financing more coal fossil fuels power plants.
Time to go all in on wind and solar energy, battery storage and electric vehicles.
Fossil fuels are a bad investment for people and the planet.
Investors are divesting from fossil fuels. wind and solar energy investing is growing.
The cost of dealing with the impact of climate change will be greater than the cost of reducing the impact.
The world population is expected to grow by another billion people. Where will the food come from ?

I have a bloody great 5 bed, 3 car garage, 2 acre mansion in Suburban Wisconsin. Its worth about 500k but I paid half of that. No hurricanes, no floods and we do two shortish vacations in Florida every winter and then 2 longer vacations in Europe in Summer.... We looked at buying in Florida and RAN ! We pay 1k insurance and 4 k property tax in Wisconsin.... The neighbors are trumpnik fascists with gun shaped mailboxes... but hey, nowhere is perfect

I just love you people you really don’t see climate change completely reshaping your coasts. Ignorance is bliss. 😂😂😂😂

if you can not insure you can not get a mortgage.

open a coconut stand

Nope. Not worth it. I love the idea of having a house in the beach. Tried it once and won’t do it again.

You should be a "Stand-Up Comedian "Laughing my toe nails off. I think Joe Budin would be a good candidate for the house full of sand. You never talked about the taxes on a two million or 5 million dollars property. LOL

Sure Buy a junk home in Hurricane alley rebuilt it only to lose it when the next storm comes 😅

Your Costs are based on what you can afford !!!

Most of the problems are from investors coming to Florida to buy and flip property, which has caused part of this mess !!

People here know the risks !!! But gamble it wouldn't happen to them !!! Well mother nature won !! And Greedy Developers came and built in areas that were not for conducive for housing !!! Buyers be ware !!! The realtor are selling these properties with out disclosures !! The state didn't require disclosures , but that is changing !!! The new risks are homes and apartment being built completely out of wood !! A huge fire hazard and hurricane wind issue . Its should be mandatory that all housing be built with concrete blocks!!! Florida government doesn't want to mandate ,because a fear that new housing will cost to much ,and or slow down development in the state!!! In the long run insurance has and continues to rise which is completely out of control !! And cost of real state has skyrocket cheap homes at high cost !! Our future is based on what we do today,!!! opportunities should be number one!!

They can build 1 billion multifamily homes or houses but equity firms and other investors still won't budge off of their greedy margins until they have no other strategies left to stop hemmorging money!!!!!!!!

Realtors apparently think investors are stupid. Let's say 1m is the retail value what the house would sell for after renovated. Let's say it's a heavy rehab and needs 300k in repairs conservatively. The real estate agent lists it at 800k for land value when investors need to be between 300k - 400k for the deal to make sense.

White people are some of the biggest con artists on earth when it comes to comes to buying, selling, investing flipping etc etc real estate... Buyer's Beware all they see is dollar signs!! 🤑💰

That home is only worth the discounted price of the land minus the cost of demolition of the house and clean up of the land. The land is only worth a fraction of the previous value!!! That beach house/land is worth maybe $300,000! Not $2.5 million! Too much risk involved with that location! I’m a Florida Real Estate Broker for over 20 years. What do I know???

Weak hands will sell. Smart buyers - vultures are coming in.