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Investor Kevin O’LearyAlso known as “amazing” from the TV show “Shark Tank”, the state of the home is clearly talked about in America. The businessman and investor recently appeared in Fox Business and announced X to share his unrestricted attitude about what is happening to real estate prices, especially in California, Texas and Florida.
“There are three questions now,” said O’leary. “Obviously a mortgage is no. 1, it always encouraged to buy [decision]; But there are two more things that came out of nowhere, especially in places like California. They are insurance and taxes. ‘
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He explained that when you add increasing insurance premiums and high local taxes to sudden mortgage rates, the affordability of the dwelling was severely affected. “Accessability has fallen by about 40 percent,” he said. “In other words, you have to buy a house with 40% less square shots and pay for the same amount for it.”
For many, this means that buying a standard family home has expired. O’Leary painted a bright painting: “This means that the classic three -bedroom, 2500 square feet deal you could take for $ 1.2 million.
“It’s a big part of the market,” he added. “The same problem in Texas, the same problems in certain parts of Florida. I see it as a hawk because I am a big real estate investor. This is the basis for stopping until these issues disappear.”
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Specifically, in California, he accused the growing insurance crisis. “I mean that if it is not an earthquake, it is a flood. Now you have caught fire. You are baked, drowned and shocked there, and no one wants to actually insure it.”
O’Leary’s concerns reflect the broader frustration shared by many potential home buyers and investors. Insurance companies leaving high -risk countries and taxes remain high, and affordability is further reduced to average families.