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December 11, 2018
State plummets to record low homeownership

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State plummets to record low homeownership

| 9/24/2018

State plummets to record low homeownership

While Gov. Rick Scott campaigns on the strength of Florida’s economy, there is no mention of a milestone the state just reached — a record-low homeownership rate.The percentage of Florida households owning homes has plunged to the lowest level ever seen, with data going back more than three decades. In the "State of Florida: Long-Range Financial Outlook" document, it says:

Countervailing some of the recent and expected improvements in the existing home market is the fact that the homeownership rate is still below normal. The 2016 percentage of 64.3 was well below the long-term average for Florida. Final data for 2017 shows a further decline to 64.1 percent. This rate is below the lowest homeownership rate previously recorded in Florida (64.4 percent in 1989) during the 34-year history of the series. However, preliminary data for the first half of the 2018 calendar year is showing some improvement.

More from the Sarasota Herald-Tribune and the Lakeland Ledger.

Column: Honesty is the best policy – especially in real estate

To assist sellers in making all relevant disclosures, the Florida Association of Realtors provides a standard form which covers many common property characteristics about which buyers want to know. Although sellers are not required to complete and sign this form, they are still required to disclose all relevant information to buyers, even when they may not be obvious. [Source: Anna Maria Island Sun]

In the changing world of commercial real estate, a degree is becoming a requirement

In the last 15 years, universities offering real estate courses and degree programs have begun popping up with more than 100 universities offering a bachelor’s in real estate and about 65 graduate programs nationwide. [Source: Bisnow]

Weston real estate agent sues NAR, Move Inc. over unsolicited texts from Realtor.com

A South Florida real estate agent is suing over unsolicited text messages sent through Realtor.com, and is seeking class-action status of the suit. The complaint alleges that the companies “engaged in systematic text-message-advertising campaigns, without regard for the law or the privacy rights of others” and that they violated the Telephone Protection Consumer Act, [Source: The Real Deal]

Raveis expands luxury network to Florida

A Palm Beach real estate agency has a new name, a new Worth Avenue address and a broader reach after entering into a joint venture with New England-based powerhouse agency William Raveis Real Estate, according to the principals of both family-owned firms. More from Palm Beach Daily News and CT Post.

STAT OF THE WEEK
$1,475 to $2,175
The rental division of Miami-based Related Group expects to open four Florida apartment developments by November, including one in Royal Palm Beach, where the monthly rents range from $1,475 to $2,175. [Source: The Real Deal]

ALSO TRENDING:

› Crocker and Chicago-based firm take over partnership that owns Miami business park
Crocker Partners and Walton Street Capital took over a limited partnership that owns Landing at MIA, a 1.52 million-square-foot business park near Miami International Airport.

› Florida Showcase Realty – willing to go the extra mile
Ann Jones, owner of Florida Showcase Realty, is known for her willingness to do whatever it takes to help buyers and sellers, but she is also very knowledgeable and has more than 20 years of experience.

› Developer sues to overturn city’s rejection of Fort Lauderdale apartment project
Trammel Crow Residential is trying to revive plans to build Alexan-Tarpon River, a planned 21-story, 181-unit apartment building in downtown Fort Lauderdale

› USAA plans to eliminate hundreds of jobs in real estate division, including in Florida
San Antonio-based USAA is eliminating hundreds of jobs in its real estate lending and real estate rewards network operations, citing competitive factors. About 265 employees across San Antonio, Tampa and Phoenix will be laid off in mid-November.

Tags: Real Estate eNews

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