Friday's Daily Pulse
What you need to know about Florida today
Florida home sales sizzle in July
Florida's housing market reported more closed sales, more pending sales and higher median prices in July compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 28,142 last month, up 10.4% from July 2018. "Just like the weather, July was a hot month for Florida's housing market with sales and median prices showing gains in both the single-family and condo-townhouse sectors," said 2019 Florida Realtors President Eric Sain. See the announcement from Florida Realtors and read more at Builder Online and the Real Deal.
Recession? CEOs say that so far, it’s a no-show in South Florida
CEOs were asked: There is increasing talk of a recession hitting in the next 18 months or so. What signs of weaknesses, if any, have you seen in your company’s business recently? Adriana Jaegerman, senior principal, managing leader at Stantec says, "If I could predict the next recession, I assure you I would have a very different career. As a company that provides a broad range of services across the globe, we’re better insulated against the impacts of an economic downturn than most." [Source: Miami Herald]
60% chance for tropical depression to form as disturbance heads our way
A system of showers and thunderstorms currently over the central Bahamas will douse South Florida over the next few days and chances of it turning into a tropical depression within five days increased to 60% Friday, the National Hurricane Center said. A 30% chance of tropical development is possible during the next 48 hours while the disturbance, which extends east for a few 100 miles, moves northwestward toward Florida’s east coast, according to the center’s 2 a.m. update. More from the South Florida Sun-Sentinel and the Orlando Sentinel.
Florida Trend Exclusive
FSU professor, researcher develops football helmet cushioning foam
Changchun Zeng, an associate professor and researcher at Florida State University’s High Performance Material Institute, has developed a foam that he says could provide an advanced and beneficial cushioning effect in football helmets. The foam is “auxetic” — when stretched, it becomes denser perpendicular to the way it’s being pulled. [Source: Florida Trend]
Are Miami and South Florida losing their best and brightest college grads to brain drain?
For years, leaders struggling to broaden the economy of Miami and the rest of South Florida beyond low-paying service jobs have wrestled with a vexing dilemma: Have those efforts been hampered by a crippling brain drain? Overall, the Miami metro is losing grads to other cities in the state, such as Orlando and Tampa, and other Sunbelt competitors, like Denver and Atlanta. [Source: Miami Herald]
ALSO AROUND FLORIDA:
› Costs rising as Fort Lauderdale tries to dam its water crisis
Fort Lauderdale faces a daunting task to repair its aging water and sewer systems and replace crumbling pipes that break without warning. The costs keep rising faster than the city can get to the needed work. Fixes to its failing water treatment plant are on hold after the lowest bid to do the work came in $15 million higher than the city had budgeted.
› Study ranks Florida's highway system 40th in nation
Florida spends more per mile on state highways than most other states but is still among the worst in the country. A report released Thursday by the Reason Foundation ranked each state on several factors, including spending per mile, pavement and bridge conditions, congestion, and fatality rates.
› Tourism thrives despite shark bite capital of the world title for Volusia County
Sharks have been the star-fish attraction in media headlines this summer, with Volusia County earning its reputation as the shark bite capital of the world. With at least 19 suspected shark attacks in Florida this year, once again Volusia County leads the way, especially in New Smyrna Beach. Despite the ignominious reputation, shark bites don’t appear to be deterring anyone from a nice day at the beach, evident by Volusia’s record breaking tourist season in 2018.
› REI Co-op headed to Midtown Tampa
Specialty outdoor retailer REI Co-op will open its first store the west coast of Florida at the $550 million Midtown Tampa project near West Shore, developers said Thursday. “REI has been part of our vision for Midtown since the beginning, especially with the company’s significant membership base in Florida,” said Nicholas Haines, chief executive officer of the Bromley Companies, the developer for the 22-acre project.
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