Florida's housing crisis leaves residents suffering
Florida Trend Real Estate Low mortgage rates during the pandemic led to the state's housing market boom, as demand was high and aspiring homebuyers...
Florida Trend Real Estate Low mortgage rates during the pandemic led to the state's housing market boom, as demand was high and aspiring homebuyers faced each other in extremely competitive bidding wars. While the Sunshine State still has one of the most expensive housing markets in the country, there are fears that the trend that has brought up home prices in the past few years might soon reverse as an insurance crisis is unfolding in the Sunshine State. [Source: Newsweek ] Opinion: Special session needed in Florida to address further insurance reform According to the Insurance Information Institute, the average annual property insurance premium in Florida is more than triple the national average.