Florida Home Sales Plunge As Sunshine State Becomes Less Desirable

[DGS49]

There is a factor that few people want to talk about, and it is a HUGE factor in Florida: Flood insurance.

Flood insurance is heavily subsidized by the Federal taxpayers, of whom I am one. If it were not for those subsidies, flood insurance would be prohibitively expensive in coastal areas. That is to say, if you foolishly wanted to build a dwelling on a sand spit on the coast - say, Siesta Key - you could not get insurance, hence you could not get a mortgage loan, hence you could not build your dream home.

These subsidies almost exclusively benefit rich White people, who are the only ones who can afford such foolishness. Why working Americans should subsidize rich White people is a mystery to me.

Take away the flood insurance subsidies, and Florida real estate will crash.

P.S. I spend every February in Florida, usually on the Gulf Coast. This year I will vacation in The Villages, far from the Coast.

 

[sealybobo]

DeSantis has ruined Florida with poor MAGAT leadershit.

But Floridiots don't seem to care. I can't believe they voted down pot. I know a woman who loves pot and she's on medicaid/disability. She voted for Trump. I laughed when Florida voted down pot. Now I'm curious what she will say about cuts come to her government cheese.

 

[rightwinger]

Yearly major hurricanes have driven up insurance costs and will only get worse.

DeSantis has driven up the cost of HOAs and Condos to where they can’t be sold.

 

[rightwinger]

This year I will vacation in The Villages, far from the Coast.

My sister and mom live in the Villages
Quite an experience

100,000 plus old people

 

[sealybobo]

Yearly major hurricanes have driven up insurance costs and will only get worse.

DeSantis has driven up the cost of HOAs and Condos to where they can’t be sold.

DeSantis and Trump are going to bring the value of homes down so that people can afford them. Then in 2028 Ron will run on the promise he will bring home values back up. It's brilliant.

 

[JLW]

As much as it pains me I have to agree in part.....The local gop never saw a piece of land that they did not want to stick a house on....And as many as they can get away with.

The joke in my AO is that you go to the gop HQ around election time, look at their slate of local hopefuls and you know who not to vote for.

I only vote for slow-growth Independant hopefuls.....They are all right leaning as no dems bother to run in my AO.

Lol..it seems we vote the same locally. In the past, anyone with a (D) next to their name didn’t stand a chance to win in my area, so when it came to local elections it was a choice between rampant development and more rampant development. In November, some folks were elected who ran on a platform of slowing growth. So, it may be changing though they are a minority on the county commission. Residents are concerned over quality of life issues not to mention an overabundance of unsold houses and a very soft real estate market.

 

[sealybobo]

Lol..it seems we vote the same locally. Anyone with a (D) next to their name didn’t stand a chance to win in my area, so when it came to local elections it was a choice between rampant development and more rampant development. In November, some folks were elected who ran on a platform of slowing growth. So, it may be changing. Residents are concerned over quality of life issues not to mention an overabundance of unsold houses and a very soft real estate market.

Republicans are split. Common sense Republicans who may say they are anti government but they do understand the importance of it and anti government Republicans who now run the show.

 

[Admiral Rockwell Tory]

Sounds like insurance is a real killer.

It is, but housing prices are ridiculous still. My home in Florida has doubled in price since we left it.

 

[Admiral Rockwell Tory]

Yearly major hurricanes have driven up insurance costs and will only get worse.

DeSantis has driven up the cost of HOAs and Condos to where they can’t be sold.

How did DeSantis do that?

 

[Admiral Rockwell Tory]

There is a factor that few people want to talk about, and it is a HUGE factor in Florida: Flood insurance.

Flood insurance is heavily subsidized by the Federal taxpayers, of whom I am one. If it were not for those subsidies, flood insurance would be prohibitively expensive in coastal areas. That is to say, if you foolishly wanted to build a dwelling on a sand spit on the coast - say, Siesta Key - you could not get insurance, hence you could not get a mortgage loan, hence you could not build your dream home.

These subsidies almost exclusively benefit rich White people, who are the only ones who can afford such foolishness. Why working Americans should subsidize rich White people is a mystery to me.

Take away the flood insurance subsidies, and Florida real estate will crash.

P.S. I spend every February in Florida, usually on the Gulf Coast. This year I will vacation in The Villages, far from the Coast.

You cannot get flood insurance on a sand spit on the coast. If it is in a flood zone, you cannot insure it. If it is in an area that floods when a hurricane hits, you can't get insurance except at exorbitant rates through the federal government. I lived on the one spot in Duval County that was rated as impossible to flood. Even if I wanted it, I could not get flood insurance.

 

[drudge X]

Yearly major hurricanes have driven up insurance costs and will only get worse.

DeSantis has driven up the cost of HOAs and Condos to where they can’t be sold.

Did DeSantis wave his hand and the cost went up? Does DeSantis have the power to control inclement weather?

 

[mamooth]

DeSantis does control education, where Florida is now near the bottom.

Deliberately attacking teachers has consequences. Educated people are fleeing the state.

 

[sealybobo]

How did DeSantis do that?

He still denies man made climate change right? So the Democrats keep punishing him with Hurricanes. Or Jews. Whoever has the weather control machine this week.

 

[MarathonMike]

DeSantis has ruined Florida with poor MAGAT leadershit.

Typically stupid post. You expect Desantis to stop hurricanes?

 

[initforme]

There's underemployment in Florida?

 

[rightwinger]

Did DeSantis wave his hand and the cost went up? Does DeSantis have the power to control inclement weather?

No but he signed a bill raising condo fees

DeSantis also reduced climate change regulations and his state is paying the price

 

[elektra]

Sales plunged cause everyone knows interested rates are going down, so why buy now.

 

[luiza]

Florida's housing market is cooling down as investors stray away from the Sunshine State because of hurricanes, insurance costs and new safety measures making the state a less desirable place to live.

Real estate nearly everywhere is in trouble , Pinkcabbage .
But the pain and suffering has barely begun .

 

[Hollie]

DeSantis has ruined Florida with poor MAGAT leadership.

Gawd you're a moron. DeSantis is not responsible for hurricanes.

 

[SassyIrishLass]

Gawd you're a moron. DeSantis is not responsible for hurricanes.

He's just a moron