Florida was the fastest-growing state in 2022, with people flocking there for the warm climate, tax advantages, job opportunities and retirement amenities. But it’s not always sunny in the Sunshine State. There’s one aspect to the cost to living in Florida that has cast a cloud over the state’s many benefits.
Wealthier people tend to sweep into impacted communities, purchasing homes even at the increased purchase price following a hurricane according to a new study. The data showed home prices in hurricane-ravaged areas are 5% higher on average than unaffected ones, which attracts people who could afford them. CLICK ON THE HEADLINE FOR MORE
After Hurricane Ian churned up the southwest coast of Florida, attention is now shifting toward recovery and rebuilding. But a huge cloud looms over the efforts: the state’s property insurance market is teetering on the brink of collapse. While the situation is less dire for commercial property insurance, there is still widespread concern the storm’s impact will have on an owners’ ability to insure properties going forward. CLICK ON THE HEADLINE FOR MORE
