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Coach Cristobal New House is his Recruiting Crown Jewel

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bobbydigius said:
SFLA real estate is out of control, 1MM gets you a ****** ranch just over 2k sqft in CG. The culprit has been Florida's stance on COVID, as well as a 5 million plus shortage on the houses built since the house crisis back in 08. Tough times right now.
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Easy on the shty ranch homes man. Your hurting my feelings. 😂
 
A legit Miami OG would've realized the recruiting advantages of keeping it real and would've moved to the heart of the hood.....Kendall Dr and 107th.

Alex Rodriguez Grammys 2019 GIF by Recording Academy / GRAMMYs
 
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Brooklyndee said:
That's not Miami real estate anymore. Right now because of COVID, new yorkers and Californians pumped this market up crazy. People living in shacks that would've sold for 100k before are asking between 6 to 10x on there houses. There's no properties and the cost for materials to build is crazy too. Basically bent over a Barrell right now. This house would've cost him say 2.5 before maybe a lil more. Now it's this.
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its not exclusive to miami. Floridas big cities got hit hard RE wise
 
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Coach Macho said:
No, the culprit has been OTHER STATES stances on Covid.
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I'd kinda counter both of you and say it's not the "freedumb" of Florida or even the "libtards" of the northeast/California and those respective governmental stances ON Covid but more a result of how work transformed nationally DURING Covid.

We have a **** ton of people that were able to work remotely and have stayed working remotely and were living in areas where their home equity was relatively very very high (NY, SF, etc). The new freedom of not being tethered geographically career-wise to high cost of living/****ty weather cities along with our lower tax rates brought a ton of these people here and it's why our housing market is starting to resemble the ones they freakin' left.

Sure, you got a significant element of MAGA type New Yorkers that probably finally had enough of the political and social dynamic in that city but those people were always at least somewhat attracted to the idea of living here and Covid was just their tipping point. They're not the primary factor in our housing market insanity though.
 
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Boarcane said:
You don’t really think that house was two and a half million two years ago, do you 😂
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Man, Dee maybe right bro. Looking at the history, this property actually lost value from 2005 - 2011 (-12% decrease). It took an exponential hike in value in 2021. So maybe not two yrs ago, since that was during Covid, but this house was in the $3.5-3.9 fluctuated range since it’s yr built.

I dibble & dabble in real estate, namely investing on the clean up side of abandoned homes…even these abandoned homes in the hood r over priced. My home girl bought a house in Compton in a low key ran down neighborhood due to an infamous apt complex back in 2010. She purchased the home for $275k; that joint is now worth $625k!! This is including a leaky roof, and an inoperable HVAC unit!

This chit is wild man; I was looking at a property in So Central, LA. I kid u not, this property has been abandoned & boarded up for over 10 yrs. It’s in the hood next to an infamous park known for criminal activities. Due to the football stadium being less than a mile away, the family who holds title is asking $425k for this piece of chit! It’s probably going to cost $115k to completely rehab it, & u’ll most likely still make a $50-$75k profit because of the recent sales. Inflation is an understatement in the real estate market right now. Smh
 
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COVID, the supply chain, remote work, inflation, "the fat cats in Washington", all have a part, sure, but a big accelerator in all this was how private equity firms were snatching up houses like crazy. in Q1 of 2021 alone, corporations (such as Blackrock) were responsible for something like 15-20% of all home sales, most of which they were turning right back around to rent out. They were paying in cash, sight unseen, and above asking price, which forced regular folks to up their offers and act quickly. Then Zillow started their "iBuying" program back in 2018, except the algorithm didn't foresee/account for the upcoming appreciation, and the bots ended up automatically buying something like 20k houses at way over asking price, which Zillow is still trying to unload.
 
Brooklyndee said:
That's not Miami real estate anymore. Right now because of COVID, new yorkers and Californians pumped this market up crazy. People living in shacks that would've sold for 100k before are asking between 6 to 10x on there houses. There's no properties and the cost for materials to build is crazy too. Basically bent over a Barrell right now. This house would've cost him say 2.5 before maybe a lil more. Now it's this.
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Very true but i dont see how this market wont get back to reality eventually?
 
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