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Florida ranks No 1 in having the most dissatisfied home insurance customers. Hurricanes in Florida are a significant risk factor, leading to increased challenges in the home insurance market. Natural disasters, like hurricanes, impact entire regions, causing delays in claim approvals and reconstruction when multiple homes are affected.
Some wait for lower rates; others buy now and refinance later for potential savings. The fixed purchase price and mortgage rate require careful initial decisions. Ensure a wise purchase by hiring a Buyer's Agent, paid by the seller.
Households need $111,914 yearly to avoid being "house poor" in South Florida. Median incomes in Florida fall short for comfortable living in Greater Miami. Rent prices: ↑2.83% yearly Rent growth is stabilizing, but there is a housing shortage due to high interest rates.
In November 2023, South Florida apartment rents saw a slight decline in the third quarter for the first time since the pandemic began. The average monthly asking rent was $2,121, down $5 from the previous quarter. New supply hitting the market has outpaced demand, leading to a 5.4% vacancy rate, a marked increase from the…
Owning a home is a keystone of wealth… both financial affluence and emotional security.
