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“Are we in a bubble? Home sales and price growth will slow in 2022, experts say | Florida Trend Real Estate – Florida Trend


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“Are we in a bubble? Home sales and price growth to slow in 2022, experts say

The country’s real estate market is expected to cool in 2022, as mortgage rates rise and inventories rise, a panel of experts said Thursday at the National Association of Real Estate Editors conference. The states expected to see the highest price increases next year are Florida at 10.7%, South Carolina at 8.9% and Maine at 8.6%, according to data from CoreLogic. Louisiana, at 2.9%, and New York and Wyoming at 3.6% each, could see the weakest growth in house prices. [Source: The Real Deal]

Amid Florida Affordable Housing Crisis, DeSantis Offers Highest Spend In A Decade

The panel of academics and housing professionals meeting before the Florida Senate committee last week delivered a unified message: Florida is in the throes of an affordable housing crisis, and more money is needed to keep the economy going. in turmoil. In a budget fueled by taxes on soaring real estate values, Gov. Ron DeSantis on Thursday found $ 144 million more than last year in the state account and proposed $ 355 million in initiatives to affordable housing as part of its proposed $ 99.7 billion budget. [Source: Tampa Bay Times]

Your home insurance coverage costs so much because the forces of money are at war

Right now, you don’t need to learn that Florida home insurance rates are skyrocketing. One reason is the increased frequency and intensity of hurricanes and other storms. They make us a greater risk. But Florida hasn’t seen a major hurricane since 2017, Irma, which affected most of the state, and Michael, which caused a vast path of destruction in the Panhandle in 2018. The main reason why Insurance rates continue to rise, experts say, is the staggering number of lawsuits filed here, compared to other states, for hurricane, roofing and water damage claims. [Source: South Florida Sun-Sentinel]

Buy or Rent a Home in South Florida? Real estate experts have the answer

Thinking of buying or renting a home in South Florida? Three real estate experts say you should rent because they anticipate possible price drops on homes for sale. Residents of Miami-Dade, Broward and Palm Beach counties are better off renting now and saving to buy later after high house prices, already falling in some cities, continue to drop. That’s according to the latest quarterly report from Florida Atlantic University and Florida International University released Wednesday comparing buying and leasing costs. [Source: Miami Herald]

Florida Community Bank Seeks Nationwide Mortgage Business

Florida’s second-largest community bank expands its wholesale mortgage presence through its joint venture, Amerant Mortgage LLC, which has hired 28 new employees dedicated to providing products and services to mortgage brokers and their clients . [Source: Inman]

STAT OF THE WEEK
Nineteen
More shops and restaurants will soon be available on Coral Gables’ historic Miracle Mile shopping street, signaling progress after years of struggle. Nineteen new tenants are expected to open during 2022, according to the city of Coral Gables and commercial real estate developers and property managers Terranova and Kerdyk Real Estate, which own multiple storefronts. [Source: Miami Herald]

TREND ALSO:

›More and more people are moving to Tampa Bay from South Florida. Why?
It’s no secret that the population in Florida and Tampa Bay is increasing. But it’s not just northerners fleeing the cold who are flocking to Tampa Bay. A new food market is emerging from the interior of the state – residents of South Florida are moving to Tampa Bay at a rapid pace. South Florida, from Palm Beach to Miami, has had the state’s three most populous counties for decades. But the most recent wave of people in Tampa Bay could push Hillsborough into one of the better counties in the years to come, according to researchers at the University of Florida.

›Florida History: The Role of the Binder Boys in the Land Boom of the 1920s
In 1920, Miami had a population of around 30,000. Today, they could almost enter the upper deck (26,442) of Hard Rock Stadium, home of the Dolphins. But things were happening. Henry Flagler was building hotels along the east coast of Florida, putting South Florida in the public eye. And the Everglades were drying up, opening up land to agriculture and, more profitably, to real estate.

›Community Members Urge Sarasota County to Prioritize Affordable Housing with Federal Funds
Bakery owner Kelly Erdmann told Sarasota County commissioners last Tuesday that three of her employees could not find affordable housing. A member of the team at his Nothing Bundt Cakes store had to move back to live with his family after his landlord raised his rent. Another employee temporarily resides with one of the store managers. And a third lives in a van with her partner and two animals. They recently bought a trailer which they plan to convert into a living space

›Yes, Orlando home buyers pay more than asking price, but it’s much worse in San Jose
It’s been a familiar refrain this year for many home buyers in Orlando. Find a nice home, lose it to cash offers from investors with much higher budgets. It might come as a surprise, then, that Orlando actually sold the fourth fewest homes for more than the price charged by major subways in the United States, according to a new study from home services platform Porch.

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