Friday's Daily Pulse
What you need to know about Florida today
Total sales of Florida homes to foreigners down 50% since 2017
The flow of foreign homebuyers purchasing U.S. properties has plummeted over the past two years, a downturn that might help explain why the lackluster performance of Florida’s housing market hasn’t mirrored the booming economy. After hitting a record $153 billion for the period from April 2016 to March 2017, total sales of U.S. homes to international buyers fell to $121 billion for the year ending in March 2018, then to $77.9 billion for the year ending in March 2019, the National Association of Realtors said in a report this week. [Source: Palm Beach Post]
Florida gets ready for peak hurricane season after 3 years of major storms
Floridians are on alert as the state heads into to peak hurricane season after three straight years of being impacted by major storms. Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that devastated the region as a Category 5 last October. Residents in the area are crossing their fingers that they will be spared this year as they continue rebuilding from the largest hurricane to hit the area on record. [Source: Insurance Journal]
Florida Trend Exclusive
Northwest Florida's four major airports see influx of travelers
Northwest Florida’s four major airports have seen historic rises in passenger counts. Fueling the increases: The arrival of several commercial carriers along with a strong regional economy. Tallahassee International Airport, Pensacola International Airport, Destin-Fort Walton Beach Airport and Northwest Florida Beaches International Airport gear up for an influx of travelers. [Source: Florida Trend]
'Kid-trepreneurs' make money moves at Florida business conference
Many Florida youth entrepreneurs are realizing they don't necessarily need a gatekeeper to hand over the keys to a successful business. This week, over 500 students as young as 10 showed up with business pitches and iron-pressed jackets to an annual Youth Economic Development Conference at Miami Dade College’s North and Homestead campuses. It was hosted by an Overtown-based organization known as Urgent Inc. that aims to economically empower youths and create a community ripple-effect. [Source: WJCT]
Mall, courthouse and businesses close as water slows to a trickle in Fort Lauderdale
Shopping malls, free-standing retailers and hotels large and small -- all the life’s blood of Fort Lauderdale’s consumer-driven economy -- closed their doors or held on the best they could Thursday after the city’s water supply trickled to a halt. Many hotels in Fort Lauderdale, including at Fort Lauderdale beach, “are in evacuation mode,” Chamber President Dan Lindblade said. They lack water pressure for fire suppression sprinkler systems. [Source: South Florida Sun-Sentinel]
ALSO AROUND FLORIDA:
› Could robots take away jobs in Southwest Florida?
Robots doing menial tasks isn't just a reality in sci-fi films and cartoons - it's poised to make a big impact in South Florida as well. According to a new study, about one million jobs could be in jeopardy in southern Florida due to job automation.
› Industrial vacancy rates on the rise in Jacksonville area
Industrial shop vacancy has increased on the First Coast. Colliers Northeast Florida issued its second-quarter report that shows there is a 4.3 percent vacancy rate at industrial sites. Part of that rate was blamed on Sears and General Electric vacating industrial operations in the past year, though GE has already agreed to fill the space vacated by Sears.
› UCF might push back presidential search over concern about misspending controversy
UCF trustees might delay the search for their next president after some expressed concern Thursday that the controversy surrounding the university’s use of leftover operating funds for construction might discourage applicants.
› The Ringling receives art conservation grant from the Getty Foundation
The John and Mable Ringling Museum of Art has been awarded a grant from the Getty Foundation as part of its Conserving Canvas initiative. The grant of $176,800 was awarded to The Ringling Museum of Art Foundation on June 6, 2019. This grant is in support of a major conservation treatment of the museum’s monumental oil on canvas painting, Emperor Justinian by Jean-Joseph Benjamin-Constant.
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