Is Poinciana really that bad? (Orlando, Seminole: transplants, real estate, apartment)

[invinciblesummer]

Can anyone give recent thoughts on this? Rents have skyrockets and I have not been able to purchase a home and at this point I am DEVASTATED okay. because I had a house I could afford lined up and now the owner refuses to sell, my rent went up $600, and all the houses that I could afford even 4 months ago have increased in price by a minimum of $100K so I am slammed from every single angle right now and feeling 1000% dejected. And every rental I take a look at wants an exorbitant amount of money per month with 2-4 months of a security deposit. I’m a working person with a stable income but putting down upwards of $5k in cash as a deposit will mean I can’t buy a house at all. because most of the money I’ve saved will need to be replenished because I spent it on a rental. Like this whole situation sucks big time, but that’s beside the point. I still need to find somewhere to live so I have to suck it up and move and get a second job so I can save more money to be able to put that money back into savings. Which is what brings me to my actual question - is poinciana actually that bad?!?! Because right now it looks like those are the only rentals I’ll be able to afford.

Is the crime actually bad right now? Are there thefts? Murders? Like? What’s going on there? Because everything I’ve read on this forum says it’s a really bad neighborhood. Obviously schools are not great which is unfortunate, but I’ve noticed it doesn’t matter much - there’s only a few neighborhoods that have “good” schools. Should I just pay my absolute max and have no extra money left in my budget in order to live in a different neighborhood?

[Arcenal813]

First thing I'd like to know if whether or not you're Hispanic.

As to the rest of your concerns, no, it isn't that bad.

[kyle19125]

I would NOT settle on Poinciana and given this most likely is a real estate bubble in this area given how unsustainable it is, ride it out for a year or two in an apartment. I don't know of any apartment communities requiring more than a few hundred dollars in security deposit (and no last month's rent) so it's certainly much more doable.

[firmbizzle]

Originally Posted by kyle19125

I would NOT settle on Poinciana and given this most likely is a real estate bubble in this area given how unsustainable it is, ride it out for a year or two in an apartment. I don't know of any apartment communities requiring more than a few hundred dollars in security deposit (and no last month's rent) so it's certainly much more doable.

We are not in a real estate bubble. People can finally made northeast and west coast money while living in Florida, and that's what they are doing.

[kyle19125]

Originally Posted by firmbizzle

We are not in a real estate bubble. People can finally made northeast and west coast money while living in Florida, and that's what they are doing.

Orlando's average income is 35K, no place close to NE or West Coast salaries. The flow of transplants cashing out of more expensive homes elsewhere isn't limitless and neither are investment dollars once the Fed raises interest rates.

[Arcenal813]

Originally Posted by kyle19125

Orlando's average income is 35K, no place close to NE or West Coast salaries. The flow of transplants cashing out of more expensive homes elsewhere isn't limitless and neither are investment dollars once the Fed raises interest rates.

I believe he is referring to the fact that remote jobs are abundant. One can work for a West Coast firm, for CA wages, and live in FL.

I work remotely. I don't make standard FL wages for what I do. One of the best decisions I ever made.

[firmbizzle]

Originally Posted by Arcenal813

I believe he is referring to the fact that remote jobs are abundant. One can work for a West Coast firm, for CA wages, and live in FL.

I work remotely. I don't make standard FL wages for what I do. One of the best decisions I ever made.

This.


PS: I still haven't figured out how to edit after posting.

[drive carephilly]

Originally Posted by Arcenal813

First thing I'd like to know if whether or not you're Hispanic.

As to the rest of your concerns, no, it isn't that bad.

Yes, Poinciana is not dangerous to live in but the traffic is terrible and commuting to where the jobs are will be brutal. That's why it's relatively inexpensive - for now. The Poinciana Parkway extension is partly under construction now but it'll be 7-10 years before it connects to I-4 and 429.

The best decision I ever made was leaving California but it was for a local job. My better half works remotely for a firm in the Northeast and . . . makes more money than I do. But more importantly than out-of-state wages is the fact that we went into Covid with a creeping construction shortage and came out of Covid 40,000 units in the hole. It's going to take a long time for builders to fill that backlog and the bulk of it has to come from new construction in Osceola and Lake Counties. The problem in Osceola is that the Osceola Beltway is 10-15 years away from completion so a lot of that land is just inaccessible in terms of people being able to commute to where the jobs are. Seminole is built-out and Orange County is pretty close to build-out. From here on in it's just small infill projects that have to satisfy demand.

Home prices are going to stagnate for awhile and may even inch down but that's because interest rates are going up. Your monthly mortgage payment isn't going down. The only hope we have is that home prices lose ground to inflation because home prices are going to be high until the Boomers are gone because the national housing shortage is ballpark 5-7 million units.

[kyle19125]

Originally Posted by Arcenal813

I believe he is referring to the fact that remote jobs are abundant. One can work for a West Coast firm, for CA wages, and live in FL.

I work remotely. I don't make standard FL wages for what I do. One of the best decisions I ever made.

It still isn't sustainable and one can certainly see the state is very actively setting itself apart politically from other moderate states. That has proven time and again detrimental to corporate relocation efforts and in general, given those who make up half of the voting nation's voting block aren't likely to find it appealing to move to a state with extremist views on social issues.

[Arcenal813]

Originally Posted by kyle19125

It still isn't sustainable and one can certainly see the state is very actively setting itself apart politically from other moderate states. That has proven time and again detrimental to corporate relocation efforts and in general, given those who make up half of the voting nation's voting block aren't likely to find it appealing to move to a state with extremist views on social issues.

How is it “not sustainable?” To who?

What extremist views?