Florida Governor: Inflation and Demand Cause Overheated Housing Costs
South Florida's overheated housing costs continue to rise and Governor Ron DeSantis says inflation and demand are the main contributors to the big increase in the housing market.
In the past year, the cost of renting and buying homes in South Florida has skyrocketed to new levels, leaving many struggling to find affordable housing.
Miami Mayor Francis Suarez says there is high demand and insufficient supply.
He hopes his plans to build new residential high-rises will help balance things out, but Gov. DeSantis, at a news conference in Miami on Tuesday, said inflation and the cost of construction are a major contributor to sky-high rents.
South Florida's overheated housing costs continue to go up and @GovRonDeSantis says inflation is one of the main contributors to the huge spike in the housing market.https://t.co/iRSRyNrtdR
– CBS4 Miami (@CBSMiami) February 1, 2022
“We have a lot of people who have wanted to leave high-tax states, gated states, crime-infested states so they can come to Florida,” he said. “There's just going to be a certain amount of demand. I think it will eventually shrink to planet Earth a little bit, but I think inflation is the biggest threat."
There are more than a dozen residential skyscrapers already under construction or approved to start construction.
Housing costs in Florida are rising faster than the national rate of inflation, with prices on average rising 30-45% in some areas of Florida, depending on whether you're renting or buying, and what city you're in. find. Inflation and demand is the outlook for buying and selling homes in Florida.
Governor DeSantis announces funding for 113 projects across the state through the Resilient Florida Grant Program. https://t.co/sY2txmTgEt
— Ron DeSantis (@GovRonDeSantis) February 1, 2022
Miami Daily
Author: Patricia Chung 6:19 pm