The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.
For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.
But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.
I bought a house I didn’t really want recently because my rent had gone up 50% in the previous two years, and was going to go up another 10% if I renewed again. Prices are out of control.
Same here. I was looking at renting and the cheapest apartment I could find was the same cost as a mortgage on a house. So I just bought a shitty house that I still can’t afford but I guess I’m at least building equity so that’s nice.