September 21, 2019
Affordable housing in Florida: Déjà vu, all over again


Rendering shows shipping containers as housing.

Florida Trend Real Estate

Affordable housing in Florida: Déjà vu, all over again

| 11/19/2018

Florida Trend Exclusive
Affordable housing in Florida: Déjà vu, all over again

As home prices rose in the years before the Great Recession, complaints about a shortage of "workforce housing” became common in many communities throughout Florida. Those complaints are back again, with a vengeance. In most fast-growing areas of Florida — particularly in South Florida and Orlando — housing affordability for low- and moderate-income workers is a bigger issue than ever. [Source: Florida Trend]

Top trends driving demand for healthcare real estate in South Florida

Florida's growing population sector will certainly increase the local demand for medical care, but will there be enough medical real estate to keep up? Real estate development and demographics go hand-in-hand. Our aging population will require more medical care. [Source: Miami Herald]

Water woes impact home sales for October

The end of Florida's water woes, at least for this year, seem to be finally here. "Glad to be back," Tracy Pascarella said about her return to the beach. Everyone seems to be happier about the water these days. Some realtors are definitely happy to see conditions improve. [Source: WPTV]

Foreigners spend billions on Florida real estate but it’s down 5%

For real estate agent Carla Rayman Kidd, attracting international home buyers to Southwest Florida means touting the weather, cultural amenities, the ability to dine outside and, of course, the beaches. But foreign buyers of Florida real estate face a number of challenges, including a low supply of homes for sale here, unfavorable exchange rates and political changes in their home countries. [Source: Sarasota Herald-Tribune]

Feds expand Miami clampdown on dirty real estate money across the country

The federal government’s clampdown on dirty money in luxury real estate markets in South Florida and other metropolitan areas is ramping up. A new order publicized Thursday by the U.S. Financial Crimes Enforcement Network (FinCEN) promises additional scrutiny for secretive companies that plow money into real estate. [Source: ]

Under established legal definitions, affordable housing is for families that make 80 percent or less of the median household income in Miami-Dade County. The threshold of 80 percent or less currently equates to $62,950 or less for a family of four in Miami-Dade. [Source: The Real Deal]


› Tiny house festival shows off itsy bitsy stylish homes
The 3rd annual Florida Tiny House and Music Festival took place this weekend in St. Johns County. Event organizer John Kernohan drove around the St. Johns County Fairgrounds in a golf cart inspecting explaining what is available to see this year.

› Honey, millennials shrunk the office space
In a Coral Gables office building owned by Altis Cardinal, anchor tenant American Airlines recently slashed its space by nearly half without shedding any employees, according to the real estate development firm’s founder Frank Guerra.

› Down-payment grants offer 'rare opportunity' for home ownership in Central Florida
Central Florida residents hoping to buy a home but struggling to come up with a down payment have a “rare opportunity” to get at least $15,000 worth of help through a $6.3 million initiative announced Wednesday by Wells Fargo.

› Related Group’s Jorge Pérez: ‘Sea level rise is something that is going to hit us all’
What do a billionaire real estate mogul, a wealth management executive and a Republican congresswoman have in common? Living and working in South Florida, they share concerns about the impacts that a changing climate — and rising seas — may pose to the area and its economy.

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Real Estate Video Pick

New FHA mortgage policy benefits first-time home buyers — and developers
New FHA mortgage policy benefits first-time home buyers — and developers

New Federal Housing Administration rules make it easier for first-time home buyers to purchase condos — and for developers to sell them. Since 2010, the FHA has limited condo mortgages to approved developments, with re-certification required every two years. Beginning Oct. 15, certification will be extended to three years.

Watch the video and read more at the Miami Herald.

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