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(WTSP)   Insurance lawsuits triple homeowner's insurance cost in Florida and yet people still move there for reasons   (wtsp.com) divider line
    More: Florida, Real estate, Insurance, Home insurance, advantage of homeowners, English-language films, special session, number of policies, insurance claim  
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872 clicks; posted to Business » on 25 Jun 2022 at 7:35 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-06-25 1:55:19 AM  
I thought deregulation brought prices down.
 
2022-06-25 7:50:58 AM  
He adds Triple-I recommends if any contractor comes to your door unsolicited, tell them to leave

Good advice for everyone and just common sense.
 
2022-06-25 8:34:34 AM  
Insurance rates in Florida still do not reflect the cost to repair damage from hurricanes and flooding from climate change.  The federal government needs to stop propping up a failed model of state government.
 
2022-06-25 8:55:47 AM  
I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.
 
2022-06-25 9:06:00 AM  

aleister_greynight: I thought deregulation brought prices down.


It generally does.

So... Just curious...  WTF does that have to do with TFA?
 
2022-06-25 9:13:22 AM  

eurotrader: Insurance rates in Florida still do not reflect the cost to repair damage from hurricanes and flooding from climate change.  The federal government needs to stop propping up a failed model of state government FLORIDA

 
2022-06-25 9:21:30 AM  
I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.
 
2022-06-25 9:45:20 AM  
preview.redd.itView Full Size


nerdist.comView Full Size


i.pinimg.comView Full Size
 
2022-06-25 9:58:37 AM  

Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.


Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.
 
2022-06-25 10:09:16 AM  

BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.


Holy shiat.

I just had a new roof installed.  We got architectural shingles (GAF Timberline HDZ), which are supposed to be good to 130 mph winds, which is... well, anything below a cat 4 hurricane (even though hurricanes are weakened to depressions when they get to MD).  Even with some decking that had to be replaced, it still only came to about $8300 in the end, installed... and that was this year, with 2022 prices in the DC metro area.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

There was a piece posted on here (I think) a few months ago that was enlightening:

https://fernandinaobserver.com/2022/04/18/heres-why-floridas-property-insurance-market-is-a-dumpster-fire/

On average, insurance companies across the nation pay out an average of $100.70 on every $100 of premiums they take in. While that may sound like a financial loser for the insurance company, they actually make a profit because they invest those premiums before paying them out. Typically, insurance investments make about 7 percent, which is how the companies are able to stay in business and provide homeowners protection from catastrophic damage.

But compared to the rest of the country, Florida is a significant outlier. According to R Street Institute, in 2016-2019, the Florida homeowners insurance market reported a combined ratio of 117.5 percent. This means that for every hundred dollars of premium received, insurers paid $117.50 in losses and expenses. Florida insurers actually outperformed other insurers on the investment side, making about 9 percent, but that still means they ended up losing almost 9 percent overall for every homeowner they insured.


For all the talk of money grubbing insurance companies, they normally take in and pay out about the same... except in Florida.  So, they either need to take in more (raise rates), pay out less (by requiring preventative measures) or a mixture of both, or they simply stop operating in the state.  That's just how the math adds up.

In the long run, significantly more stringent building codes are the only real solution - Okinawa deals with multiple powerful cyclones every year, but it uses construction that is built to a standard that can just brush them off. Florida is filled with timber framed buildings that simply can't handle the wind, and the "let it fall and build it back" paradigm is proving unsustainable.
 
2022-06-25 10:22:05 AM  

Big_Doofus: My plan is to live in a small, cheap apartment


I got some bad news for you.
 
2022-06-25 10:24:36 AM  

Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

I just had a new roof installed.  We got architectural shingles (GAF Timberline HDZ), which are supposed to be good to 130 mph winds, which is... well, anything below a cat 4 hurricane (even though hurricanes are weakened to depressions when they get to MD).  Even with some decking that had to be replaced, it still only came to about $8300 in the end, installed... and that was this year, with 2022 prices in the DC metro area.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

There was a piece posted on here (I think) a few months ago that was enlightening:

https://fernandinaobserver.com/2022/04/18/heres-why-floridas-property-insurance-market-is-a-dumpster-fire/

On average, insurance companies across the nation pay out an average of $100.70 on every $100 of premiums they take in. While that may sound like a financial loser for the insurance company, they actually make a profit because they invest those premiums before paying them out. Typically, insurance investments make about 7 percent, which is how the companies are able to stay in business and provide homeowners protection from catastrophic damage.

But compared to the rest of the country, Florida is a significant outlier. According to R Street Institute, in 2016-2019, the Florida homeowners insurance market reported a combined ratio of 117.5 percent. This means that for every hundred dollars of premium received, insurers paid $117.50 in losses and expenses. Florida insurers actually outperformed other insurers on the investment side, making about 9 percent, but that still means they ended up losing almost 9 percent overall for every homeowner they insured.

For all the talk of money grubbing insurance companies, they normally take in and pay out about the same... except in Florida.  So, they either need to take in more (raise rates), pay out less (by requiring preventative measures) or a mixture of both, or they simply stop operating in the state.  That's just how the math adds up.

In the long run, significantly more stringent building codes are the only real solution - Okinawa deals with multiple powerful cyclones every year, but it uses construction that is built to a standard that can just brush them off. Florida is filled with timber framed buildings that simply can't handle the wind, and the "let it fall and build it back" paradigm is proving unsustainable.


He might have had large single floor house. A single floor house vs two floor with same square footage? Way more expensive Roof.
 
2022-06-25 10:50:06 AM  

Intrepid00: Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

I just had a new roof installed.  We got architectural shingles (GAF Timberline HDZ), which are supposed to be good to 130 mph winds, which is... well, anything below a cat 4 hurricane (even though hurricanes are weakened to depressions when they get to MD).  Even with some decking that had to be replaced, it still only came to about $8300 in the end, installed... and that was this year, with 2022 prices in the DC metro area.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

There was a piece posted on here (I think) a few months ago that was enlightening:

https://fernandinaobserver.com/2022/04/18/heres-why-floridas-property-insurance-market-is-a-dumpster-fire/

On average, insurance companies across the nation pay out an average of $100.70 on every $100 of premiums they take in. While that may sound like a financial loser for the insurance company, they actually make a profit because they invest those premiums before paying them out. Typically, insurance investments make about 7 percent, which is how the companies are able to stay in business and provide homeowners protection from catastrophic damage.

But compared to the rest of the country, Florida is a significant outlier. According to R Street Institute, in 2016-2019, the Florida homeowners insurance market reported a combined ratio of 117.5 percent. This means that for every hundred dollars of premium received, insurers paid $117.50 in losses and expenses. Florida insurers actually outperformed other insurers on the investment side, making about 9 percent, but that still means they ended up losing almost 9 percent overall for every homeowner they insured.

For all the talk of money grubbing insurance companies, they normally take in and pay out about the same... except in Florida.  So, they ei ...


in nj, just paid $9650 for full strip and replace with the same shingles, repair of 2 pieces of decking, new flashing on the chimney and 2 exhaust vents.
 
2022-06-25 11:24:31 AM  
Conservative "values" in practice.
 
2022-06-25 11:24:36 AM  

Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.


good luck finding a cheap apartment. be realistic. this does not exist my friend.
 
2022-06-25 11:51:24 AM  

eurotrader: Insurance rates in Florida still do not reflect the cost to repair damage from hurricanes and flooding from climate change.  The federal government needs to stop propping up a failed model of state government.


As far as red-state governments are concerned, that's the only thing DC is good for---taxing blue states and sending the money their way.
 
2022-06-25 12:11:56 PM  

Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?


Single story, Hip roof, 2400 sq ft house. I could have shopped the price down a bit, went with long time local company for the peace of mind.
 
2022-06-25 12:46:52 PM  

aleister_greynight: I thought deregulation brought prices down.


Fark user imageView Full Size
 
2022-06-25 12:48:57 PM  

EvilEgg: He adds Triple-I recommends if any contractor comes to your door unsolicited, tell them to leave

Good advice for everyone and just common sense.


New florida travel ad: come to florida. Youll love the heat and humidity.  Hurry because in a few years we'll be under saltwater.
 
2022-06-25 12:50:06 PM  

Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.


Dont forget to bring your sauna wear.
 
2022-06-25 12:51:28 PM  

dstanley: [preview.redd.it image 700x639]

[nerdist.com image 850x477]

[i.pinimg.com image 736x504]


.....someone has never lived in 95 degree heat with 75% humidity......
 
2022-06-25 12:52:32 PM  

bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.


Its the least banksters and hedge fund managers could do for freedumb.
 
2022-06-25 12:55:06 PM  

Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

I just had a new roof installed.  We got architectural shingles (GAF Timberline HDZ), which are supposed to be good to 130 mph winds, which is... well, anything below a cat 4 hurricane (even though hurricanes are weakened to depressions when they get to MD).  Even with some decking that had to be replaced, it still only came to about $8300 in the end, installed... and that was this year, with 2022 prices in the DC metro area.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

There was a piece posted on here (I think) a few months ago that was enlightening:

https://fernandinaobserver.com/2022/04/18/heres-why-floridas-property-insurance-market-is-a-dumpster-fire/

On average, insurance companies across the nation pay out an average of $100.70 on every $100 of premiums they take in. While that may sound like a financial loser for the insurance company, they actually make a profit because they invest those premiums before paying them out. Typically, insurance investments make about 7 percent, which is how the companies are able to stay in business and provide homeowners protection from catastrophic damage.

But compared to the rest of the country, Florida is a significant outlier. According to R Street Institute, in 2016-2019, the Florida homeowners insurance market reported a combined ratio of 117.5 percent. This means that for every hundred dollars of premium received, insurers paid $117.50 in losses and expenses. Florida insurers actually outperformed other insurers on the investment side, making about 9 percent, but that still means they ended up losing almost 9 percent overall for every homeowner they insured.

For all the talk of money grubbing insurance companies, they normally take in and pay out about the same... except in Florida.  So, they either need to take in more (raise rates), pay out less (by requiring preventative measures) or a mixture of both, or they simply stop operating in the state.  That's just how the math adds up.

In the long run, significantly more stringent building codes are the only real solution - Okinawa deals with multiple powerful cyclones every year, but it uses construction that is built to a standard that can just brush them off. Florida is filled with timber framed buildings that simply can't handle the wind, and the "let it fall and build it back" paradigm is proving unsustainable.


Bankster owned insurance companies and their lazy sit at home stock owners are barely squeezing by folks.   Lolzzz

And im the fairy godmother!
 
2022-06-25 12:56:29 PM  

Intrepid00: Big_Doofus: My plan is to live in a small, cheap apartment

I got some bad news for you.


Its ok
Hes moving to a bridge underpass.
 
2022-06-25 12:59:12 PM  

jso2897: Conservative "values" in practice.


Conservative values means no values.  Unless more money and living off other peoples labor is a value.
 
2022-06-25 1:00:30 PM  

MikeyFuccon: eurotrader: Insurance rates in Florida still do not reflect the cost to repair damage from hurricanes and flooding from climate change.  The federal government needs to stop propping up a failed model of state government.

As far as red-state governments are concerned, that's the only thing DC is good for---taxing blue states and sending the money their way.


Red states hate big gov unless same is sending them free money.
 
2022-06-25 1:02:05 PM  

MikeyFuccon: eurotrader: Insurance rates in Florida still do not reflect the cost to repair damage from hurricanes and flooding from climate change.  The federal government needs to stop propping up a failed model of state government.

As far as red-state governments are concerned, that's the only thing DC is good for---taxing blue states and sending the money their way.


Or unless big gov takes away a womans right to abortion bec god told them too
 
2022-06-25 1:05:00 PM  

Linux_Yes: dstanley: [preview.redd.it image 700x639]

[nerdist.com image 850x477]

[i.pinimg.com image 736x504]

.....someone has never lived in 95 degree heat with 75% humidity......


Six years, going back. Fark snow, fark winter.
 
2022-06-25 2:06:55 PM  

dstanley: Linux_Yes: dstanley: [preview.redd.it image 700x639]

[nerdist.com image 850x477]

[i.pinimg.com image 736x504]

.....someone has never lived in 95 degree heat with 75% humidity......

Six years, going back. Fark snow, fark winter.


Youll be alright as long as u can stay in AC
 
2022-06-25 2:30:18 PM  

bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.


Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.
 
2022-06-25 2:47:10 PM  

BillyNoMates: Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

Single story, Hip roof, 2400 sq ft house. I could have shopped the price down a bit, went with long time local company for the peace of mind.


Yeah, as soon as I posted it hit me that Floridians like one-level living.  Plus, it takes up more of the lot and there's less lawn to mow.
 
2022-06-25 3:03:11 PM  

Izunbacol: BillyNoMates: I had to put a new roof on at $22,000 before I could buy insurance at $2,400. I should have gone with the scammers when they came to the door.

Holy shiat.

I just had a new roof installed.  We got architectural shingles (GAF Timberline HDZ), which are supposed to be good to 130 mph winds, which is... well, anything below a cat 4 hurricane (even though hurricanes are weakened to depressions when they get to MD).  Even with some decking that had to be replaced, it still only came to about $8300 in the end, installed... and that was this year, with 2022 prices in the DC metro area.

Did you install a metal roof?  Or is the house massive?  How on earth was it $22,000?

There was a piece posted on here (I think) a few months ago that was enlightening:

https://fernandinaobserver.com/2022/04/18/heres-why-floridas-property-insurance-market-is-a-dumpster-fire/

On average, insurance companies across the nation pay out an average of $100.70 on every $100 of premiums they take in. While that may sound like a financial loser for the insurance company, they actually make a profit because they invest those premiums before paying them out. Typically, insurance investments make about 7 percent, which is how the companies are able to stay in business and provide homeowners protection from catastrophic damage.

But compared to the rest of the country, Florida is a significant outlier. According to R Street Institute, in 2016-2019, the Florida homeowners insurance market reported a combined ratio of 117.5 percent. This means that for every hundred dollars of premium received, insurers paid $117.50 in losses and expenses. Florida insurers actually outperformed other insurers on the investment side, making about 9 percent, but that still means they ended up losing almost 9 percent overall for every homeowner they insured.

For all the talk of money grubbing insurance companies, they normally take in and pay out about the same... except in Florida.  So, they either need to take in more (raise rates), pay out less (by requiring preventative measures) or a mixture of both, or they simply stop operating in the state.  That's just how the math adds up.

In the long run, significantly more stringent building codes are the only real solution - Okinawa deals with multiple powerful cyclones every year, but it uses construction that is built to a standard that can just brush them off. Florida is filled with timber framed buildings that simply can't handle the wind, and the "let it fall and build it back" paradigm is proving unsustainable.


It's unbelievable.  Lived on the beach during Irma.  I got to stay because my condo was built in the 70s with concrete.  A lot of friends had to leave because they lived in these nice looking timber disasters.  Was the outside of my building much uglier?  Yep, but who gives a shiat? The world famous beaches are literally across the street.
 
2022-06-25 3:09:18 PM  

Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.


This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.
 
2022-06-25 3:10:09 PM  

DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.


The price of rent was about half before COVID should clarify.
 
2022-06-25 3:35:25 PM  

DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.


You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.
 
2022-06-25 3:54:02 PM  

Lusiphur: DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.

You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.


Lol you are comparing the absolute high end of the market now?  Jesus Mary and Joseph. Yeh there's more super wealthy in NYC

I lived DTSP in a luxury building studio this year.  Price for rent 2k (and DTSP is cheaper than a central location in Miami) Price in a similar located central spot in NYC (Wall Street)3400.  Same square footage and same amenities.  Took me all of 2 seconds to look up.  Quit your bullshiat.  And as someone that's lived all over, Numbeo is very accurate if you account for lag.
 
2022-06-25 4:03:59 PM  
I'm a transplant currently living in Florida who moved in his 20s and my friends are like it's so cheap.  Yeh it was for a while because 2008 was brutal to the area.  Not anymore and the salaries track.  Worked for tech companies with offices in places like Boston, SF, Seattle and they all adjust for COL.  End up slightly ahead in Florida, but nothing seriously drastic.  And now because of remote work, not even sure that's true anymore.  Plus eating out, drinking, and other popular entertainment for tourists is expensive here because they can.  Drink specials barely exist here in the heavily tourist spots (and that's where most people want to live).

If you can lock down NE money and come down here, of course it's gonna be cheap.  The workers at Raymond James have a joke they get paid in sunshine.
 
2022-06-25 4:23:58 PM  
Companies must perpetually make a profit, else they are a failure. Insurance companies are no different, but they did make it mandatory for people to carry insurance. And really, the salaries at the C-level cannot stagnate or, perish the thought, decrease.
 
2022-06-25 4:42:58 PM  

DaMannimal: Lusiphur: DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.

You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.

Lol you are comparing the absolute high end of the market now?  Jesus Mary and Joseph. Yeh there's more super wealthy in NYC

I lived DTSP in a luxury building studio this year.  Price for rent 2k (and DTSP is cheaper than a central location in Miami) Price in a similar located central spot in NYC (Wall Street)3400.  Same square footage and same amenities.  Took me all of 2 seconds to look up.  Quit your bullshiat.  And as someone that's lived all over, Numbeo is very accurate if you account for lag.


Lol "the absolute high end of the market." No, I'm comparing mid-market apartments that are similar to what I was renting. Are you talking about the studio actually on
 
2022-06-25 4:47:10 PM  

Lusiphur: DaMannimal: Lusiphur: DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.

You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.

Lol you are comparing the absolute high end of the market now?  Jesus Mary and Joseph. Yeh there's more super wealthy in NYC

I lived DTSP in a luxury building studio this year.  Price for rent 2k (and DTSP is cheaper than a central location in Miami) Price in a similar located central spot in NYC (Wall Street)3400.  Same square footage and same amenities.  Took me all of 2 seconds to look up.  Quit your bullshiat.  And as someone that's lived all over, Numbeo is very accurate if you account for lag.

Lol "the absolute high end of the market." No, I'm comparing mid-market apartments that are similar to what I was renting. Are you talking about the studio actually on


shiat, tried closing the ad and hit the submit button by accident.

Are you talking about the studio actually on Wall St that's been on Zillow for 2 days? Yeah, dude, that doesn't exist. That's a scam listing that's showing multiple different buildings. There are a handful of pre-war shiatholes at the $3-4,000 price point, but nothing comparable to anything that can be described as a "modern luxury building."

I've also lived a lot of places, and Numbeo is completely useless when comparing a large city to a much smaller one.
 
2022-06-25 4:52:24 PM  

Lusiphur: DaMannimal: Lusiphur: DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.

You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.

Lol you are comparing the absolute high end of the market now?  Jesus Mary and Joseph. Yeh there's more super wealthy in NYC

I lived DTSP in a luxury building studio this year.  Price for rent 2k (and DTSP is cheaper than a central location in Miami) Price in a similar located central spot in NYC (Wall Street)3400.  Same square footage and same amenities.  Took me all of 2 seconds to look up.  Quit your bullshiat.  And as someone that's lived all over, Numbeo is very accurate if you account for lag.

Lol "the absolute high end of the market." No, I'm comparing mid-market apartments that are similar to what I was renting. Are you talking about the studio actually on


3000 square feet with all the amenities you are listing is absolutely high end of market. Valet? That must be a Miami thing.  NYC is highly densely populated so yeh if you need that type of space you will pay a huge premium.

shiat the only way you get that where I'm at is in a penthouse or a large house.  Most the houses in Tampa Bay aren't even that big unless you move to Lutz.

You are absolutely comparing the high end of the market to pretty much everything else.

You are literally talking out your ass.

Once again the numbers you are quoting are for essentially top 5% income earners.  There's more of those in NYC hence more competition.
 
2022-06-25 5:25:29 PM  

Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.


Lol.
Unless your job is in the sticks, be prepared to pay at least 1200 a month for a crappy 1 br apt in florida nowadays.

Rental prices have gone insane in the last year.

Cost of living in florida is among the highest in the country now.
 
2022-06-25 5:38:37 PM  

Muzzleloader: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Lol.
Unless your job is in the sticks, be prepared to pay at least 1200 a month for a crappy 1 br apt in florida nowadays.

Rental prices have gone insane in the last year.

Cost of living in florida is among the highest in the country now.


1200 is studio prices in the non sticks.  1500 for one bedroom.  A staring teacher here can just barely qualify to rent a studio.  Great system we have in place.
 
2022-06-25 5:56:57 PM  

Lusiphur: Lusiphur: DaMannimal: Lusiphur: DaMannimal: Lusiphur: bo_loo: Big_Doofus: I have a potential job opportunity in Florida. It may be lucrative enough that I take it, but I won't purchase property there. My plan is to live in a small, cheap apartment and try to save as much of the money as I can for a couple of years while looking for my next job.

Good luck finding a "small cheap apartment".  Most rents are more expensive than a mortgage payment.

Start researching rent prices now and expect them to go up.

Even with the explosion in price over the last two years, Florida is still significantly cheaper per square foot than real states with real economies. Before I left at the tail end of 2020, I was paying about 1/5th in a brand new modern luxury Miami condo of what I would have paid for the same space here in NYC. I saw my old place listed recently, and it was closer to 1/3rd, so more expensive, but still dirt cheap if you're used to real rents in real cities.

This bullshiat and have lived both places.  Or your really bad at math   You only need to check Numbeo to see it's a lie.  The difference is that NY is much dingier because of all the prewar buildings.  And the salaries tend to track and most people actually tend to have more purchasing power in NY when you account for the difference.  Rents are skyrocketing here in Tampa and Miami because of remote work.   And even then the price was about half so no idea where you are getting 1/3-1/5.

You must have either missed the "per square foot" part, or just don't understand what it means. And Numbeo is, and has been, garbage that's completely useless for anything except the most broad and generalized comparisons that fall apart the minute you start looking at actual comps.

But since you're convinced that you know what you're talking about, please find me a 3,000 square foot 3/4 in Manhattan in a modern building with swimming pools, gym, sauna, spa, and valet parking for under $20k/month. Because while I'm sure you could find something of similar size way the fark out in Easy New York or maybe Forest Hills at less than 3x rent, it's going to be an ancient shiathole that's not worth comparing.

Lol you are comparing the absolute high end of the market now?  Jesus Mary and Joseph. Yeh there's more super wealthy in NYC

I lived DTSP in a luxury building studio this year.  Price for rent 2k (and DTSP is cheaper than a central location in Miami) Price in a similar located central spot in NYC (Wall Street)3400.  Same square footage and same amenities.  Took me all of 2 seconds to look up.  Quit your bullshiat.  And as someone that's lived all over, Numbeo is very accurate if you account for lag.

Lol "the absolute high end of the market." No, I'm comparing mid-market apartments that are similar to what I was renting. Are you talking about the studio actually on

shiat, tried closing the ad and hit the submit button by accident.

Are you talking about the studio actually on Wall St that's been on Zillow for 2 days? Yeah, dude, that doesn't exist. That's a scam listing that's showing multiple different buildings. There are a handful of pre-war shiatholes at the $3-4,000 price point, but nothing comparable to anything that can be described as a "modern luxury building."

I've also lived a lot of places, and Numbeo is completely useless when comparing a large city to a much smaller one.


Is renthop inaccurate? Is apartments.com inaccurate?  They all just scam listings and reports?  After 2008 the COL here was about half of NYC, after the recovery about 60%, and now it's creeping to 70%.  The salaries here have not gone up 40% in that time.

For example the price of condos where I lived in St Pete Beach have almost doubled since I moved in 2014.  I wish fark had a flag for misinformation for you.

The big difference is that you can get cheaper on the skirts of the metros of these areas than you can in NYC.  Mostly because all these asshole AirBNB people have bought short term rentals in anywhere desireable if you value walkability (downtown areas and the beaches, the beaches used to be a great bargain if you didn't need to work in Tampa).  We should do what Mexico did and heavily tax it, but zero chance that happening here.  And why Im off to vaya con dios.  Not to mention COVID brought the absolute worst people in the country here that are flying let's go Brandon (that shiat was funny for like a week) flags in historic neighborhoods with an aesthetic like the old NE putting up new construction that looks like a upper class middle school buildings.  Can't buy taste.

Florida is a great place to be a high earner, everyone else, not so much.
 
2022-06-25 6:19:16 PM  

Muzzleloader: Cost of living in florida is among the highest in the country now.


No, it's not
 
2022-06-26 12:43:22 AM  

chitownmike: Muzzleloader: Cost of living in florida is among the highest in the country now.

No, it's not


The cost of living when accounting for salary is the highest in the country.  It's the most unaffordable state to live in currently.
 
2022-06-26 12:51:31 AM  
 
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