Kevin O’Liri says forget the classic three bedroom, 2500 square feet for $ 1.2 million-now you pay this for a trailer home in California

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Investor Kevin O’LiriAlso known as “Mr. Wonderful” from the Shark Tank TV show, it spoke clearly about the state of housing in America. The entrepreneur and the investor recently appeared on Fox Business and published on X to share his unlimited opinion on what is happening with real estate prices, especially in California, Texas and Florida parts.

“There are three questions now,” O’Liri said. “Obviously the mortgage is # 1, it has always been when you buy driving [decision]S But there are two more things that have come 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 already steep mortgage rates, the accessibility of housing takes a big blow. “Accessibility decreases by about 40%,” he said. “In other words, you have to buy a house with 40% less square frames and pay the same amount on it.”

For many, this means that the days of buying a standard family home have been completed. O’leary draws a great picture: “This means that the classic three -bedroom deal, 2500 square feet, which you can pick up for $ 1.2 million, forget about it. You live in the trailers home for the same price that costs in California.”

“This is a big part of the market,” he added. “The same problems in Texas, the same problems in certain parts of Florida. I look at this as a hawk because I am a big real estate investor. This is a reason to stop as these problems solve.”

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In California, he accused the growing insurance crisis. “I want to say, literally, if it’s not an earthquake, it’s a flood. You’re starting now. You’re frying, drowning and shaking there and no one wants to actually guarantee it.”

O’Lear’s concern reflects the broader powerlessness shared by many potential buyers of housing and investors. As insurance companies are withdrawn from high -risk countries and taxes that have remained high, accessibility is even more reduced to average families.

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