Real estate market is 'in trouble' with realtors, not sellers: Mitch Roschelle

Let's change gears and check out the housing market. I personally know a lot of people who are waiting to see if home prices and rents come down before they look for a new home. Housing expert Mitchell is with me. Is that a good strategy do you think? Just wait and hope that prices and rents come down? When is waiting and hoping ever been a good strategy for investment? So this very conversation with a friend of mine earlier this week, thinking of moving to Florida, getting ready to retire. Instead of these $450,000 houses are now $750,000. I'm going to wait until those prices come down. I said don't wait, they're not coming down. And when you wait, you're going to say, wow, that's $750,000 house is now 950,000. And that's the dilemma that buyers have. They had this anticipation that things have frothy and they have to correct. But when you have supply and demand imbalance, they don't. But what are they going to do? I mean, they have no choice but to wait. Do they can't afford the rent, they can't afford the new home. They what they do, a lot of them are moving further away. And I think I said last time, a lot of the people looking in Florida and now looking at North Carolina. At the last two days in North Carolina on some projects and you're seeing a big influx of people from the Northeast. You're also seeing people who were in Florida going back and selling their home in Florida and going to because they can't get insurance in Florida. Oh, that's right. That's a huge problem. Is it at the moment? Yeah, homeowners insurance is a nightmare in Florida. Tell me about it. So. Well, this is this is a fact. The largest lobby in Tallahassee, which is the capital of Florida, is the insurance lobby. So there are laws in Florida that don't exist in other states like New York, New Jersey, Connecticut. Where an insurance company can Todd's looking at me with suspicion. As a Connecticut person, an insurance company can drop you. For basically no reason. But you can't do in New York, you can't do in other states, so. People are just getting dropped for no reason because either they're high risk or they're in an area that's high risk. The trick there, if you want to hack, if you're a homeowner, raise your deductible because if you sort of say to the insurance company, I'm going to be partners with you and I'll take the 1st $2500, it'll take the 1st $5000 in risk, then the insurance company is more likely to keep you. Is there any chance that mortgage rates will come down a little bit in the next few months? Big deal, a little bit, 1/2 a point. I don't think that's going to make or break anybody's buying decision. We interview you about once a week, once every 10 days. It is always the real estate market is in trouble. It's flat doing nothing. Yeah, it's still the case. It's in trouble if you're a realtor and you, you know, we're hoping to make money on commissions this year. But for sellers, it's not necessarily in trouble because that you know the prices are holding up. And I think it's really hard. I'll say it again. I think the first time homebuyer it's it's a hard, you know, it's a hard thing not to crack ugly. Alright, Mitchell, Rochelle, thanks for joining us. You bet. See you soon.