A state report this week found Fla. with 22.6M residents – 1.61% more than it had a year earlier. But they also predict growth will slow over the next several years. TALLAHASSEE, Fla. – Florida continues to grow as it attracts people from other parts of the U.S., but that growth is projected to slow … Read more
MARATHON, Fla. – The state is considering easing strict long-standing limits on development in the Florida Keys, a move that could fuel the biggest building boom in the ecologically fragile island chain in nearly a half-century. It could – at least potentially – open the door to as many as 8,000 new homes and businesses … Read more
Citizens Property Ins. CEO Tim Cerio took issue with a Senate Budget committee info request, saying the Fla.-owned insurer has “never sought a federal bailout, period.” TALLAHASSEE, Fla. – Saying the state’s Citizens Property Insurance Corp. has “never sought a federal bailout, period,” Citizens President and CEO Tim Cerio on Wednesday took issue with a … Read more
The new-homes’ growth rate fell in 3Q, as it did in the two previous quarters, says NAHB. Single-family and multifamily saw the biggest expansion in U.S. exurbs. WASHINGTON – For the third consecutive quarter, single-family growth rates were negative for all geographic sectors of the nation, as exurban areas posted the largest increase in market … Read more
49K more policies could be moved out of Fla’s. “insurer of last resort” by Feb. 20, though it still has twice as many policies (1.4M) as No. 2 State Farm (630K). TALLAHASSEE, Fla. – Five property insurers have received approval to remove as many as 39,850 policies from the state’s Citizens Property Insurance Corp., with … Read more
Newly allocated Hurricane Housing Recovery Program funds can be used to pay for repairs, insurance deductibles and down payments, among others. TALLAHASSEE, Fla. – Home and property owners in 18 Florida counties impacted by Hurricane Idalia may be eligible for state-backed funds for repairs and housing assistance. The Hurricane Housing Recovery Program provided $25 million … Read more
An appeals court ruled that a property insurer had to cover damage caused by nearby rock blasting. The insurer said it was uncovered “earth movement.” TALLAHASSEE, Fla. – An appeals court Wednesday upheld a ruling that required a property-insurance company to cover damage that the owners of a Miami-Dade County home said was caused by … Read more
While inflation news remains positive month to month – 2.5% recently, just a bit above the Fed’s 2% goal – Chair Jerome Powell says it’s premature to declare victory. WASHINGTON (AP) – Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair … Read more
The VA asked mortgage servicers to pause foreclosures to help veterans at risk of losing their homes, but mortgage bankers have concerns. WASHINGTON – The Department of Veterans Affairs (VA) called on mortgage servicers to pause foreclosures on VA-backed loans for six months and extended a pandemic-era loan modification program that covers missed payments and … Read more
While mortgage rates moving closer to 6% will draw buyers into the 2024 housing market, several economists don’t think it will create a similar rush of sellers listing their homes LOS ANGELES (AP) – Several housing economists are projecting that mortgage rates will ease moderately next year, though the forecasts call for the average rate … Read more
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