"The sharks come in and say here’s cash."
A new report from the Resilience Action Fund, a non-profit advocating for sustainable building practices, found that property values in the Shore Acres neighborhood of St. Petersburg decreased after last year’s devastating storm season, while values in a less flood-prone neighborhood nearby went up.
The report identified 36 single-family homes in Shore Acres that were purchased between 2000 and 2024 and sold for less than $400,000 in the five months after Hurricane Milton.
Compared to what they bought their homes for, those owners lost 35% on average or about $140,000.
That’s before you factor in closing costs, loss of property, temporary living costs and the cost of repairs.
Read more at the Tampa Bay Times