Summary
Home prices in Florida are dropping sharply, with Miami seeing a 12.4% decline, followed by Jacksonville (6.1%), Orlando (5.6%), and Tampa (5.5%).
This decline comes amid escalating climate risks and rising insurance costs, worsened by recent hurricanes Helene and Milton.
Florida’s insurance crisis—exacerbated by insurers leaving or going bankrupt—has made it increasingly difficult and expensive to insure homes, prompting some residents to sell flood-damaged properties “as is” to investors.
Despite these challenges, new construction continues in high-risk flood areas, heightening long-term vulnerabilities.
Absolutely, USA has a very egocentric way of thinking. Probably in part because everybody is indoctrinated with individual freedom is more important than life. So sociopathy is celebrated as a virtue, because absolute lack of morality is freedom.
However more and more Americans are beginning to understand that there is also freedom in things like not having to worry about hospital bills. Which is freedom for the masses instead of freedom for the few that are rich.