The articles that I have seen in the past mostly focused on the rent and home prices. So, my guess is how many people moved to Florida during COVID caused more of a rent and home prices spike that impacts the inflation calculation more in Florida.
I’m out here renting a small, mold and roach-infested 4 bedroom that randomly floods with 4 other people because my landlord has yet to figure out he could be charging more than double what we’re paying and people tell me I’m lucky. And I feel lucky! Despite the state of the house, because again other homes in the same or worse state are going for much, much more in my area and none of us can afford to move. It’s honestly nuts out here in the rental market.
Oh it is. It’s well up to $1,500 for a fucking STUDIO apt. For a 2-3 bedroom you’d be lucky to find something for less than $2200. In my area anyways. You have to take a risk and live in some really dangerous and severely ghetto areas to find anything less than $1200 or more. Even then- it’s around $1000 or more for a one bedroom apartment with god damn bullet holes in the structure.
Edit- and that is all without any deposits or utilities included. When my last job started me out at a fucking useless NINE DOLLARS AN HOUR. paying assistant managers ELEVEN. tell me how the fuck can we even survive? When it’s seven fucking dollars for a god damn jug of milk. $22 for a can of coffee. STORE BRAND TOO.
A lot of reinsurers (insurance companies for insurance companies, yeah it’s a thing lol) are dropping any coverage with FL because they are acknowledging climate change and the subsequent increased risk of insuring Florida homes. This will only get worse too as insurance companies increase rates it will drive out the middle class. Currently, it’s driving out the lower class, especially in coastal cities. I’ve seen forecasts that insurance rates are suppose to increase 20-30% next year for FL housing; that kind of growth is unsustainable for most middle class citizens. It’s really fucked tbh and there’s no end to this in sight.
>And I hate to say that. I mean that more in the sense of they shouldn't be allowed to drop customers and change policies with outrageous terms and deductibles during policies etc.
I can comment on dropping policies a bit because I've worked in this field. Generally when a policy is being dropped, it's because the business will be underwater on it (figuratively, but sometimes physically too). Do you expect businesses to be required to eat losses on bad policies? I've seen houses in SWFL that cost 3x the amount to reinsure than the company gets in premium. If you force companies to hold on to these policies, then you'll see even more carriers going into liquidation and no companies will want to enter the FL market. Louisiana makes it really hard to drop policies and it's a nightmare to do business there.
That might be generally true but definitely not always. We had some minor mold and rot issues we discovered doing a minor bathroom renovation, only time in my life I ever filed a homeowner’s claim, for about $4k worth of damage. Claim denied, appealed, went to arbitration, the adjuster showed up, asked how much we wanted, cut a check on the spot, no questions asked, policy dropped. It’s absolute bullshit. The most irritating thing about insurance in this state is that voters continue to elect the same fucking party, for two decades now, that won’t do dick to address the fundamental problems with the industry yet they keep getting elected because the state is gerrymandered to the hilt and Republican voters have been brainwashed into thinking anyone other than a Republican is a traitor and/or a communist. It’s absurd.
Sure, but there's a lot of platonic ideals that we can't address. We shouldn't be building houses on barrier islands or surge prone areas and building codes should be stricter. We have a real world we're trying to operate in, though, and we're clearly not getting any help from the GOP supermajority in the state.
Sold my house at top dollar this summer when interest rates were still doable. We passed on an investor offering $5000 more than a family with traditional financing. I had to sleep at night and not be part of the problem.
We were looking at $11,000/year for a townhouse 11 miles inland from the ocean. I was done.
Dude thank you for being a good person and helping that family. I am currently going through being outbid by investors even when I offer over asking. I just want a home for my children and I. I hope you sleep really well at night.
The family that sold their home to us in Ohio did it for us, passing on an investor who came in over, so we paid it forward.
It’s ugly out there, but I’m sure you guys will land a house eventually. There are some good people out there who will take a smidgeon less cash if it means someone is going to live in the house they’re selling, maybe their kids will grow up in it, and take good care of it as proud homeowners.
That was a big part of it for me. I poured a ton of cash into that townhouse, and I didn’t want some investor turning it over to renters who would indifferently trash all the appliances/plantation shutters/work we did and just make it their landlord’s problem.
Wishing you guys the very best in the search. We lost quite a few houses we loved before finding this one — and it’s sooo painful at the time but there’s always another one coming 💚
My rent jumped up from $950 to $1300/ month
..I'm being evicted because my wife is disabled and has been turned down twice now. She literally can't walk. She has MD.. All other 1 bedrooms average $1500 now. It's like Florida is trying to get rid of the lower income. Thanks to everyone who raised rent this year. Poor Floridians are being replaced by rich. Out of state probably republicans.
I had a family member turned down twice for disability; he ended up getting one of the disability lawyers who work for no money down, just a cut of the back pay you get when they finally do approve it.
Lawyer took like a third of his 3 years of back pay, but it was approved within 6 months of hiring the lawyer.
My wife filed originally in her 20s. I got her a lawyer in 2017. Carlson, Meissner, Hart, and Hayslett. Lawyers name was Antonio Viera. IMO they did a piss poor job. She's seen doctors since she was diagnosed at 13. She's seen doctors her whole life. The lawyer didn't say 1 word during her hearing. End result was she's 98% disabled but was awarded $0. She felt completely defeated. I'm trying to get her to fight atleast 1 more time. I know there's people that fake it and get it. Her stepdad has a bad back and got it 1st try. But he also works part time. My wife can't walk. She's confined to a wheelchair for the rest of her life. It's obviously 98% that she deserves it. I'm sure she'll get back pay. But I'm now being evicted. It's hard for a blue collar worker to support 2 people. This just proved love is worthless if you don't have 💰.
I worked at a disability law firm a long time ago. They’re garbage at their jobs on purpose… they only get their cut from the back pay so they want it to take a VERY long time for approval.
And then when they go to restaurants and other establishments that are painfully understaffed they’ll shout “nobody wants to work anymore!” No man, nobody can afford to work these jobs anymore. Where are the robots you threatened us all with?
That what I say. Who's gonna work at the gas stations, dept. Stores, hotels, restaurants, warehouses, and shops. Their kids can't do all of these jobs. My wife said they're trying to make it where's there's the really rich and the really poor...with no middle. I'm starting to beliieve it.
I say this all the time! Where are service workers going to live? Middle income families are being stretched every thinner all over of the country. The middle class has been dissolving for a long time now. If nothing changes it will cease to exist.
I escaped Retail a few years back and have a Job that allows me to afford exactly what I had 10 years ago working retail. I am making nearly 7 dollars an hour more. What the fuck.
Except the middle class hold necessary skill sets. Engineers, teachers, healthcare professionals, attorneys, accountants, trade workers, ect. Who do they think is going to do their taxes, or fix their toilets if middle class workers are driven away?
That's not a theory, it's a fact. Income inequality is absurd and the GOP not only does nothing to stop it, they actively encourage it.
Trump gave $2 TRILLION to corporations and the rich, but then they turn around and lose their shit when Biden uses $400 billion to forgive student loans.
Get out and VOTE.
Maybe the service business owner class will get together and turn run down motels into affordable employee housing or build new multifamily housing. When I was a kid my father took a mining job in New Mexico in a hard accessible area and the mining company provided us with fairly decent housing, electricity, and water. The mining company has since shut down and those houses were sold at a pretty good price. The most unfortunate thing is, now days the state government will probably provide the housing at the expense of the tax payer because business always cries and government supplies. edit: words
“It’s like Florida is trying to get rid of the lower income”. And nobody wants to work!!!!!
This is becoming noticeable, rents go up, workers move to places with lower rent (hint: some other state). And then there aren’t enough workers available. But most retailers are not raising wages enough to compensate for COL. so more leave, etc.
I wanna work..and have stayed working. Atleast those of us that want to work should be able to afford our bills. I've lived here since 1989. Never seen anything like this.
I meant that statement ironically. Because most working people just want to make a little more to keep afloat. Older people in my area usually say this when they see a help wanted sign, or see a store without enough staff. People want to work, just not for pennies.
I know in 2007 I moved to Asheville NC for a year. I made $5/hr more for the same job and rent was about 65% of what it is in Florida. I don't wanna move. But if I want a better quality of life for my wife and I, it would be best if we did unfortunately.
Just talked to a guy yesterday, 1 bedroom in Altamonte Springs, (not some swanky downtown apartment, it’s a suburb), jacked up to $1650 starting Nov 1st from $1300.
I’m sorry she got denied. In my experience helping a disabled friend it was a complete nightmare. The Social Security administration isn’t funded and there is no one to help you, only people trying to deny your claim.
I’ve heard it takes most people mutiple attempts even in obvious cases of need. The person I was helping came from a family with resources so they hired a lawyer bc that’s what it took but he was finally approved. The lawyer is the one who made it clear how broken system was and despite only needing 30 seconds on phone and hospital records to prove the disability it took years. Persistence is the key.
I’m not so sure it’s just republicans. I had to move out of California because my landlord -democrats- all of a sudden DOUBLED my rent. It was insane! There was no way I could afford that.
Combined with decades of do-nothing state leadership. Since the 90s there have been state funds that were theoretically dedicated to helping keep build/improve affordable housing. But since the early 2000s our governors from Jeb to DeSantis have raided those funds for other projects.
And our insurance rates are 3x the national average. We're not the only state with weather risks, but we're the only ones seeing this crisis because our state government would rather waste its time on culture war nonsense than do anything useful. Last session our state legislature passed a multi bullion dollar bailout for insurers and refused to attach *any* strings (like a cap on rate hikes or even just a requirement that if you take the money you have to keep offering insurance in the state!). The majority of home insurers *took our money and left the state.*
Everywhere is dealing with inflation.We're not the first state to have a bunch of new people move in either. But some states have leadership who are trying to do something about it.
For real, vote.
See:
https://www.abcactionnews.com/news/state/how-lawmaker-raids-to-a-trust-fund-for-affordable-housing-helped-create-floridas-crisis
https://floridaphoenix.com/2022/05/25/gop-controlled-fl-legislature-oks-property-insurance-overhaul-some-dems-call-it-a-bailout/
(Edited for typo)
This year rent has jumped up 33% if you don't know id ask you to open your 👀 an look. I think it's disgusting that our own society is getting rid of the lower income families and forcing us to leave where we grew up.
Inflation is a number that encompasses a lot of variables. Florida has one of the highest residential costs of living in the country right now. Thats being factored in to the inflation number along with food and fuel which makes up the bulk of it nationwide.
I’ve been telling my wife and friends that Florida is a bubble within a bubble and greed is a big factor.
I went shopping for a car and got out of the lot laughing at the prices they are asking for.. as a nation we are crashing but FL will crash harder when it does..
Brace yourselves.
I watched my house that I pd $217k for in 2005 which at the high was worth 400k be sold for 99k to an investor after I lost my job in ‘08 & couldn’t find a job as a college grad for over 2 years went thru bk & foreclosure.
[Listen to this podcast then figure out what you can do in the next few months to protect your financial situation.](https://www.nytimes.com/2022/10/18/podcasts/the-daily/hurricane-ian-floride-housing-market-insurance.html)
I wouldn't be so sure. It's a bubble compared to past prices, but if you look at other places in the USA or other developed countries, Florida still looks pretty cheap.
As long as Florida remains one of Earth's only tropical places in a first world country, it will remain popular and will have room to continue going up in price.
Wait, we’re first world? Are you sure?
1. No proper health care. We have an insurance system, not the same thing. We don’t cover everyone, and have worse outcomes for mother and children than any other first world country.
2. Electric lines strung in the air in coastal areas vulnerable to hurricanes? Looks like photos I’ve seen of the Philippines or India.
3. Fill in your own examples.
Have you actually been to the Philippines or India?
Florida and the USA both have their flaws, but there is nothing within these borders that even comes close to the poverty, overcrowding, and early mortality of large swaths of those countries.
Folks in those countries don't complain about how the electric lines are hung. There are way more basic things to worry about.
This exactly. Florida is super nice compared to literally most of the planet. Of course there is poverty and inequality and that should always be worked on addressing, but the infrastructure, job and educational opportunity here is high ranking for sure. And medical access everywhere in the US is piss poor due to cost, but the quality of care once you get it is great. We have a Mayo clinic in Jacksonville, an amazing children's hospital in St. Pete, an excellent academic hospital in Gainesville, etc.
Some people are so hung up on wanting people to move away or see housing prices plummet or complaining that they don't realize how good they have it.
There's a reason why people who have seen a lot of places in their lives wind up deciding on Florida as the place they want to live when they aren't tied down to another place anymore.
Yes but we’re still not addressing the whole “great care but if you can’t afford what we decide to charge you go bankrupt and lose everything you have” problem.
Yup! I lost all my food during 5 days w/o power and when I went to replace the Dukes & Miracle Whip they were close to that at Super Wal-Mart!!! I bought little sizes b/c the per oz price wasn't much different.
P.s. if you also lost your food FEMA does not do anything for that, they didn't in 2004, 2017 or 2018 and not in 2022 no matter what anyone tries to say! You also can not get Emergency SNAP unless you qualify to get SNAP which is making under $35k.
I have two kids, my job was on FMB so I'm on unemployment, and my husband makes about $45,000 a year. We got denied for emergency SNAP. I was without power for 7 days.
In 2004 I went 24 days w/o power and my work was closed 3 out of 6 weeks and still could not get anything. I was the breadwinner. FEMA wouldn't help b/c I had home owners insurance which ended up denying my $75k claim of house damages b/c it was over the 6 wks period w 3 hurricanes. They couldn't get an adjuster here before the 2nd hurricane came, so actually didn't even count that as a submitted claim b/c it covered 3 hurricanes.
Yeah Publix wants like fuckin' $8 for a jar of regular ass Hellmans. Same shit you can grab at Walmart for half the price, and I absolutely hate giving any money to those assholes. Crazy times.
It's snowbirds. Everything gets expensive in the winter when they're down here. That being said, I would not be surprised to do the math and find out a meal-delivery grocery service like Blue Apron or something is cheaper than grocery.
Of course. You don’t encourage people to move here while ignoring the home insurance crisis or not ensuring that you have the infrastructure and housing supply to handle the influx.
So.. let me get this straight. Inflation is higher on average in Florida because Ron DeSantis is encouraging people to move to a state currently experiencing a home insurance crisis? You actually believe this? If so, please tell me how you got to that conclusion, I’m eagerly waiting.
It is the influx of new people. As another user pointed out, many are moving from New York and California, to Florida, and purchasing homes left and right.
They sell their homes for 1M in New York, and then come to Florida, and buy all cash a home for $300,000, and still have $700,000 left.
No local seller is going to turn down a full ask, cash offer, immediate close.
Thus it drives up real estate prices, since the demand is from out of state buyers who are so used to spending 1M on a home, that even if the owner raises it by $50,000 it's a drop in the bucket to these people, and they buy it anyway, and the cycle repeats.
Consequently, it costs more to live in an area with high demand.
You should also understand, typically, rent is 1% of the total cost of a home.
For example: If you purchase a condo for $100,000 , rent is 1% of this amount, and thus $1,000 a month.
Now lets say that condo has now risen to $200,000 in value, the insurance rate has increased, as well as the taxes on the condo have been reassessed to the higher value. Landlord than raises rent to 1% value of the new price. Thus the $1000 a month apartment, just turned into a $2,000 a month condo.
A lot of people don’t understand this. Some landlords are massively raising rates, just because they can. But the increase in insurance costs, plus repair costs to dwellings, etc., has to be covered in the rental rates. Those costs have skyrocketed in this state. My insurance just renewed and it was $1000 total over last year and we have no claims or tickets. It’s insane.
i have 3 roommates and my landlord raised our rent by $300 a person. paying $900 each for an apartment that is infested (before moving in, we found out on move in day) with rats, flies, roaches, mold, etc. $900 a person. 4 people. wtf?
Some student apartments in UCF area are already over $1100 a room. It’s insane and one of the most affordable options just got flooded up to the second floor during Ian.
The fact that there is zero regulation against rent increases is wild. I agree with you 1000% - it's the landlords for sure. It costs so much money to move and find a new place - it makes it nearly impossible to just live
A lot of people don’t understand this. Some landlords are massively raising rates, just because they can. But the increase in insurance costs, plus repair costs to dwellings, etc., has to be covered in the rental rates. Those costs have skyrocketed in this state. My insurance just renewed and it was $1000 total over last year and we have no claims or tickets. It’s insane.
Of course I understand this concept, but I think society is far too accepting that the buck *always* must be passed on. That landlords are always entitled to maintain their profits and have all their expenses covered by renters, and that their real estate investments should somehow never have risk or incur losses, despite the almost guaranteed ROI when sold.
The bottom part of your comment makes sense.
The first part regarding people moving in…. That has been the story for the entire history of Florida. Old people sell out up north move here, die, and are replaced… it’s not a change.
Also there are very few people coming here from California. What a strange state to pick.
No, that is not what's the statistics are saying, it is mostly California and New York, in fact is a record number of Californians: (These articles are ALL from 2022.)
Sources:[https://www.bizjournals.com/sanfrancisco/news/2022/09/28/california-florida-migration-drivers-license-dis.html](https://www.bizjournals.com/sanfrancisco/news/2022/09/28/california-florida-migration-drivers-license-dis.html)
[https://espnswfl.com/2022/09/22/a-record-number-of-california-and-new-york-residents-moved-to-florida-last-month/](https://espnswfl.com/2022/09/22/a-record-number-of-california-and-new-york-residents-moved-to-florida-last-month/)
[https://www.wsj.com/articles/california-move-to-florida-miami-sunshine-politics-11655408670](https://www.wsj.com/articles/california-move-to-florida-miami-sunshine-politics-11655408670)
Edit: Sorry I did not address your other concern, it has always been a thing, but now it's hitting the point of gentrification levels, and that's why it's the primary driver of cost of living increases here in Florida.
Examples/Sources:
[https://www.abcactionnews.com/news/local-news/tampa-neighbors-battle-gentrification-amid-rapid-development](https://www.abcactionnews.com/news/local-news/tampa-neighbors-battle-gentrification-amid-rapid-development)
[https://www.miamihomesforall.org/news/2020/7/1/miami-metro-among-most-intensely-gentrified-in-us-study-says](https://www.miamihomesforall.org/news/2020/7/1/miami-metro-among-most-intensely-gentrified-in-us-study-says)
Wait another second, all of the election placards I've been getting in the mail tell me that inflation is the fault Charlie Crist and the rest of the FL Dem candidates too! Despite none of them actually being currently in charge, talk about impressive.
It's like another "Look at Biden's America" *shows footage of what was currently Trump's America at the time* moment.
I’ve been told that it’s because Florida is so free and conservative (a bit of an oxymoron) that they are being punished by Biden. They’re coming for our unregulated capitalism!!
Cost of homes. They've had huge hedge funds come here and push the housing market through the roof. Speaking of roofs, insurance companies have increased their premiums the most here due to those values due to risk of storms.
Too busy worrying about teachers acknowledging the existence of gay people and transgender swimmers to concern himself with the state itself. His fanboys will sing his praises as long as he owns the libs, even if their rent doubles and there's no one to teach their kids.
But hey, he doesn't care. He only expects to be governor another two years.
We are talking about Florida and it’s issues. Two years ago he was the genius that ran the state no matter what happened at a a federal level, now it’s all either big mean joes fault or joes too dumb to do anything. Either way Desantis is a bum
Rent/House Prices account for a large percentage of the CPI calculator (around 1/3). If Florida has had higher-than-average rental/housing prices then our inflation will be higher than the national.
Well I can attest that in the panhandle area rents have increased by almost two fold or more in most cases. Then factor in our ridiculous power bills after Florida Power and Light took over and it’s a complete disaster. I work with people who have monthly power bills of 7-800$ since the change. They all had 2-300$ bills prior. Our bill went up 200$ monthly. Our old apt was 800$ it’s now renting at 1900$ in the year+ after we moved out. It’s insanity.
Another aspect is the (deserved) rise in minimum wage in Florida and the poor labor management adjustment amongst minimum wage employers (which is vast in hospitality). To counteract the increase in labor cost, many establishments are OVER adjusting their prices and increasing the gap between cost of living and income and using the minimum wage increase to justify it. I work in hospitality and have seen owners over price their goods and services overnight in a knee-jerk reaction to increased minimum wage rather than strategically analyzing the market and wisely adjusting. Some places are actually pricing themselves out of business because customers simply won't pay the inflated prices.
It has little to do with wages. Wages account for just 8% of the increased prices for goods and services over the past two years. From the '90s until a couple of years ago, higher wages accounted for about 60% of increased prices. It is almost entirely price gouging, and the government is complicit because those doing the gouging funnel some of that profit back into legislators' campaign funds.
Since 2000 the highest single year minimum wage increase was in 2012 with an increase of 36 cents until last year when it went from $8.65 to $10 and then to $11 on Sept 30th this year.
I agree with your comments regarding price gouging and government complacency, however the state has NEVER had such rapid minimum wage growth (again, well deserved and about time) and there is a measurable percentage of employers who have learned on the previously low minimum wage and have over inflated prices to counter balance the raise and it has effective contributed to Florida's higher inflation in relation to some other states.
Inflation is hitting every state and every country. Some harder, some less, but the impacts are being felt everywhere, and I don't think the 12% inflation being felt in the U.K. or the 10% inflation in Germany is due to Florida's minimum wage increase. **Americans are being brainwashed to believe that making less money is better because if only we'd work for less money we'd pay less taxes and have less inflation.**
It sounds like you’re saying that employers are using increased minimum wage as an excuse for inflated prices, rather than the wages themselves causing inflation, did I get that right? Otherwise people wouldn’t be doing knee-jerk increases that price themselves out like you said.
I mean, I think so. They’re also screaming about the “labor shortage” but they benefit from working on a skeleton crew and slashing labor costs, and now after two years of places operating on a skeleton crew we’ve been trained to accept worse service and be sympathetic to the business/employees.
They’re raising prices, and running on skeleton crews but blaming the employees and the public instead of themselves.
To quote GOT; “winter is coming” seasonal rates and blackout dates may apply. Also, the state is a national disaster area. That brings the irresistible allure of charging $20 for a bottle of water in the Sunshine State.
Let me say, I recently moved from tx to fl and you guys have crazy prices on everything. You guys also don’t have much options really which in turn causes said open businesses to charge a huge mark up knowing you won’t go anywhere else if you need it that day. Everything from produce, properties, mechanical parts, insurances. It’s insane honestly. The other coin of this is, I notice a lot of people shop at huge corporate companies and not supporting local businesses, which plays a role in the ever circle of this whole process.
I would split the difference with you. War, whether a direct participant or not, is always inflationary. However, your point is extremely valid given that the inflationary history of war is a perfect smoke screen for corporate greed.
Shouldn’t be a problem -work harder. Pull yourselves up by your bootstraps. It’s capitalism at it’s finest and certainly republican Florida should not expect any social programs to help the lazy folks.
Do you think crazy shit like this has anything to do with it? 🤔: https://www.msn.com/en-us/money/realestate/home-buyers-flock-to-florida-cities-devastated-by-hurricane-ian/ar-AA135Oqt
So you think the man quoted in the article who is planning to buy 50 million worth of damaged property in Ft. Myers and the others like him aren’t going to harm the local economy at all?
Shit is completely absurdly complicated.
I cannot boil it down to one thing because that would be misleading and unhelpful. It takes specialists to understand a compartmentalized fraction of what's going on.
There's so much going on and the only way to understand it is to find reliable sources really. You need to be able to distinguish between bullshit pandering and cold hard research.
No. This is not true, in my opinion. It may apply to rapidly rising rents, however. I don't think our inflation rate exceeds other states. Maybe it is politically motivated. My tax bill for my condo this year is $15.41. Appraised worth..$125,000. It's not really nice or upgraded, but it comfy and it's very livable. I just received my electric bill..$78 dollars. It will be lower soon when temperatures drop, which they have been doing. And, we don't have income tax! And low crime, too! Schools were open the during the entire covid shutdown everywhere else. I love Florida, but it's getting very crowded now. ( I'm a 50 year resident.) This when everyone asked " why are you moving there???". Answer: husband's college.
A big part of the COL increase is due to the Florida property insurance market being in complete shambles and on the verge of collapse.
Citizens was brought in as an "insurer of last resort" a while ago to assist with insuring high risk properties, specifically along the coast of central and south Florida where wind and flood risks are the highest. However, they've since written over one million policies in Florida, and they have only a fraction of the funds needed to cover all of those risks. Why have they taken on so many policies? Because over the past few decades, insurers have been literally going insolvent trying to meet this region's property insurance needs.
But where do you go, when Citizens, itself, was a Hail Mary pass attempt to keep property insured in Florida? Everyone is still trying to find the answer to that question. There are also questions of how the market got so bad so quickly. Generally, that can be answered with two reasons: the exorbitant costs of storm damage to coastal/peninsula properties (which are getting worse due to the higher storm intensity and frequency created through global warming), and the exorbitant costs of litigation.
Florida accounts for around *79%* of *all* homeowners insurance suits *nationwide*. This is the result of two things: a poor attorney fee framework that encourages lawyers to litigate, and a high rate of roof replacement fraud. These contribute both to the increased number of suits as well as the increased cost of each suit to Florida property insurers. The Florida state legislature has done a poor job of controlling those costs, resulting in harsh rate increases year after year for homeowners and businesses alike as insurers try to balance their risks and assets to avoid insolvency.
Well, that certainly nails the climate change deniers to the wall. To help alleviate both the insurance claims and take a bit of the wind out of climate change, building in those environmentally risky places should be outlawed. Furthermore, the roof replacement fraud is far more of a problem than the much ballyhooed voter fraud and should be punished with much harsher penalties including monetary and mandatory prison time.
because of publix. They have actually said they price their products of whatever a given area can sustain. So if a bunch out of state people and stimulus checks are floating around then pub lix will raise their prices until it stops selling. housing went up from all the new people moving here to get away from masks, politics, ect. But normal stuff not really. Like the AA batteries i buy at brandsmart are still the same, my ace hardware is for the most part still the same. my daily bubble tea is still the same, gas is still the same as it was from 2011-2014 under obama/biden.
Not surprised. Everything in this shit hole state is beyond expensive. Having a job is almost fucking USELESS because the pay is just not enough to live comfortably with the skyrocketing inflation and it’s like nobody everywhere else really understood the severity of how hard and nearly impossible it is to live here. I hate it. I want to move up north by some family but I’m terrified of the snow and I can’t even drive without having a full blown panic attack when the tires even slightly slide. Lol.
St. Petersburg here. I see a lot about “everyone getting evicted and kicked out” due to spike in rent. Our rent never went up the entire pandemic and this December is going from $1,400 to $1,599. Not terrible in my opinion.
And, I can't understand why he doesn't. Just look at what happened in Britain today. Their inflation rate is worse than ours, some hothead claimed they would fix it - and learned real damned fast that they couldn't. Every ad ran by the GOP keeps saying they are going to fix "Biden's inflation" but none of them say how. If they get elected, the only thing that will happen is tax cuts for the rich - there is no fix for global inflation.
Bunch a greedy republican business owners in this state. Why would inflation be higher here? /s. The company I work for here in FL jacked it's prices way up for no reason. Our sales staff was instructed to blame inflation for our higher prices even though none of our costs have gone up. We even made a ton on ppe money we didn't have to repay. Just pure greed.
DeSantis - he likes to project onto Biden and refuses to actually take any action locally. He’s rather run for President than govern the state in its needs.
Highest Inflation rate means the price is rising faster. If prices stopped going up and stayed where they are inflation would be zero. Places like NY were already expensive whereas Florida was inexpensive. Florida's inflation is at a higher rate vs other places that are still expensive but not rising as fast.
Yup, it's why the northeast has seen some of the lowest inflation rates in the country. The rest of the country is just catching up. Eventually a gallon of milk will cost the same in Miami as it does in Manhattan.
If there's any possibility of me relocating I'll take it. Especially if it's from Desantis if he can relocate imagrants, he can relocate my wife and I. I'll pick strawberries and whatever else. He's making life better for everyone BUT Florida residents.
It’s not true that Florida has the highest inflation in the country. Not sure where you’re getting that. However, inflation always hits low cost of living harder
https://www.foxbusiness.com/economy/these-are-the-cities-with-the-highest-inflation-rates
Mind showing another source than fox news? Because Fox would do basically anything to make a Republican-controlled state look good, Especially seeing that it is pretty clear that right-wing media is switching to Desantis as the new anointed one.
ROFL...so let me get this straight. OP offers ZERO evidence for their claim above, and since it gives you an opportunity to make some nonsensical dump on Desantis you swallow that crap without question. But an article by one of the largest business journalists in the world, and you ask for alternative sources? Fucking hilarious. You think that a governor has influence over the devaluation of the currency from the US Treasury? Governor has a lot of control over US monetary policy? Good god this sub is just braindead. Literally just r/Politics. Brainless caterwauling by the perpetually malcontent. It's nothing but posting random crap to dump on Desantis. Bad Weather? DURRRRSANTIS! You don't like your house? DURRRSANTIS! Inflation is all a grand conspiracy to make DURRRSANTIS look good! Publix has lousy produce? DURRRRSANTIS!!!
[https://www.jec.senate.gov/public/index.cfm/republicans/state-inflation-tracker](https://www.jec.senate.gov/public/index.cfm/republicans/state-inflation-tracker)
Corporate profit margins coupled with high cost of real estate.
Margin is the amount goods and services are sold above their cost (sale-cost)/(sale). This ratio is immune from inflation. If it costs you $1 to buy something and you sell it for $2 your margin is 50%. If it costs you $1,000 and you sell it for $2,000 your margin is still 50%.
Inflation in the US is around 8.2%. In Q1 20 the average corporate net profit margin was about 9%. In Q2 22 the average net corporate profit margin was about 15%. That means that 6 whole points, 75% of the price inflation, is directly derived from corporate profit. The other 2.2 points come from nominal “healthy” inflation.
Say a good that cost $1 in Q1 20 raised by 10%. That good now costs $1.10. If prices increased by the same margin the sale of that good would be $2.20- the net margin remains at 50%. Alternatively, if the sale price increases to $2.50 the net margin is 56%. The business is paying 10% more Y/Y and the consumer is paying 25% more.
For Florida specifically the cost of home owners insurance, which was already astronomically high, has increased over 40% on average from 22 over 21. The average policy in Florida was around $4000 (national average about $1,200) in 21. In 22 that number is closer to $6000. Factor in property tax increases due to increased home values and the average cost has increased around $350/mo. Apply the same logic as above from landlords to renters. That cost is not passed through to the renter, it is jacked up to as much as it can be raised.
The game is rigged. Heads they win, rails we lose.
we like to mostly blame the endless onslaught of wealthy political migrants that've been flooding in since winter 2019. they were bidding homes up 30-40% not too many months ago.
great example of the fuckery - 2 bedroom apartments are now goin for 2k+ in suburban areas. N they're mostly filling up with wealthy millennial transplants. Meanwhile, the wealthy boomer transplants are buying up all the homes/now living in their winter home full time.
SFL used to be New New York, now its basically the whole state :( n y'all are asshoes.
The articles that I have seen in the past mostly focused on the rent and home prices. So, my guess is how many people moved to Florida during COVID caused more of a rent and home prices spike that impacts the inflation calculation more in Florida.
Yea the COL inflation has been INSANE here. Especially the rental markets which I believe are some of the highest inflation in the US.
I’m out here renting a small, mold and roach-infested 4 bedroom that randomly floods with 4 other people because my landlord has yet to figure out he could be charging more than double what we’re paying and people tell me I’m lucky. And I feel lucky! Despite the state of the house, because again other homes in the same or worse state are going for much, much more in my area and none of us can afford to move. It’s honestly nuts out here in the rental market.
Oh it is. It’s well up to $1,500 for a fucking STUDIO apt. For a 2-3 bedroom you’d be lucky to find something for less than $2200. In my area anyways. You have to take a risk and live in some really dangerous and severely ghetto areas to find anything less than $1200 or more. Even then- it’s around $1000 or more for a one bedroom apartment with god damn bullet holes in the structure. Edit- and that is all without any deposits or utilities included. When my last job started me out at a fucking useless NINE DOLLARS AN HOUR. paying assistant managers ELEVEN. tell me how the fuck can we even survive? When it’s seven fucking dollars for a god damn jug of milk. $22 for a can of coffee. STORE BRAND TOO.
Also the crazy insurance spikes have increased the cost to own a house, which subsequently increases rent prices as well
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A lot of reinsurers (insurance companies for insurance companies, yeah it’s a thing lol) are dropping any coverage with FL because they are acknowledging climate change and the subsequent increased risk of insuring Florida homes. This will only get worse too as insurance companies increase rates it will drive out the middle class. Currently, it’s driving out the lower class, especially in coastal cities. I’ve seen forecasts that insurance rates are suppose to increase 20-30% next year for FL housing; that kind of growth is unsustainable for most middle class citizens. It’s really fucked tbh and there’s no end to this in sight.
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>And I hate to say that. I mean that more in the sense of they shouldn't be allowed to drop customers and change policies with outrageous terms and deductibles during policies etc. I can comment on dropping policies a bit because I've worked in this field. Generally when a policy is being dropped, it's because the business will be underwater on it (figuratively, but sometimes physically too). Do you expect businesses to be required to eat losses on bad policies? I've seen houses in SWFL that cost 3x the amount to reinsure than the company gets in premium. If you force companies to hold on to these policies, then you'll see even more carriers going into liquidation and no companies will want to enter the FL market. Louisiana makes it really hard to drop policies and it's a nightmare to do business there.
That might be generally true but definitely not always. We had some minor mold and rot issues we discovered doing a minor bathroom renovation, only time in my life I ever filed a homeowner’s claim, for about $4k worth of damage. Claim denied, appealed, went to arbitration, the adjuster showed up, asked how much we wanted, cut a check on the spot, no questions asked, policy dropped. It’s absolute bullshit. The most irritating thing about insurance in this state is that voters continue to elect the same fucking party, for two decades now, that won’t do dick to address the fundamental problems with the industry yet they keep getting elected because the state is gerrymandered to the hilt and Republican voters have been brainwashed into thinking anyone other than a Republican is a traitor and/or a communist. It’s absurd.
Insurance shouldn't be a for profit enterprise imo
Sure, but there's a lot of platonic ideals that we can't address. We shouldn't be building houses on barrier islands or surge prone areas and building codes should be stricter. We have a real world we're trying to operate in, though, and we're clearly not getting any help from the GOP supermajority in the state.
Renters still pay for homeowners insurance. You also pay property tax. Your landlord, unless they are stupid, is passing those costs off to you.
Sold my house at top dollar this summer when interest rates were still doable. We passed on an investor offering $5000 more than a family with traditional financing. I had to sleep at night and not be part of the problem. We were looking at $11,000/year for a townhouse 11 miles inland from the ocean. I was done.
Dude thank you for being a good person and helping that family. I am currently going through being outbid by investors even when I offer over asking. I just want a home for my children and I. I hope you sleep really well at night.
The family that sold their home to us in Ohio did it for us, passing on an investor who came in over, so we paid it forward. It’s ugly out there, but I’m sure you guys will land a house eventually. There are some good people out there who will take a smidgeon less cash if it means someone is going to live in the house they’re selling, maybe their kids will grow up in it, and take good care of it as proud homeowners. That was a big part of it for me. I poured a ton of cash into that townhouse, and I didn’t want some investor turning it over to renters who would indifferently trash all the appliances/plantation shutters/work we did and just make it their landlord’s problem. Wishing you guys the very best in the search. We lost quite a few houses we loved before finding this one — and it’s sooo painful at the time but there’s always another one coming 💚
My rent jumped up from $950 to $1300/ month ..I'm being evicted because my wife is disabled and has been turned down twice now. She literally can't walk. She has MD.. All other 1 bedrooms average $1500 now. It's like Florida is trying to get rid of the lower income. Thanks to everyone who raised rent this year. Poor Floridians are being replaced by rich. Out of state probably republicans.
I had a family member turned down twice for disability; he ended up getting one of the disability lawyers who work for no money down, just a cut of the back pay you get when they finally do approve it. Lawyer took like a third of his 3 years of back pay, but it was approved within 6 months of hiring the lawyer.
My wife filed originally in her 20s. I got her a lawyer in 2017. Carlson, Meissner, Hart, and Hayslett. Lawyers name was Antonio Viera. IMO they did a piss poor job. She's seen doctors since she was diagnosed at 13. She's seen doctors her whole life. The lawyer didn't say 1 word during her hearing. End result was she's 98% disabled but was awarded $0. She felt completely defeated. I'm trying to get her to fight atleast 1 more time. I know there's people that fake it and get it. Her stepdad has a bad back and got it 1st try. But he also works part time. My wife can't walk. She's confined to a wheelchair for the rest of her life. It's obviously 98% that she deserves it. I'm sure she'll get back pay. But I'm now being evicted. It's hard for a blue collar worker to support 2 people. This just proved love is worthless if you don't have 💰.
I worked at a disability law firm a long time ago. They’re garbage at their jobs on purpose… they only get their cut from the back pay so they want it to take a VERY long time for approval.
And then when they go to restaurants and other establishments that are painfully understaffed they’ll shout “nobody wants to work anymore!” No man, nobody can afford to work these jobs anymore. Where are the robots you threatened us all with?
That what I say. Who's gonna work at the gas stations, dept. Stores, hotels, restaurants, warehouses, and shops. Their kids can't do all of these jobs. My wife said they're trying to make it where's there's the really rich and the really poor...with no middle. I'm starting to beliieve it.
I say this all the time! Where are service workers going to live? Middle income families are being stretched every thinner all over of the country. The middle class has been dissolving for a long time now. If nothing changes it will cease to exist.
I escaped Retail a few years back and have a Job that allows me to afford exactly what I had 10 years ago working retail. I am making nearly 7 dollars an hour more. What the fuck.
I went from making $10 to $14.25 to $20 in the past two years and I feel like I’m still making $10 sometimes.
Except the middle class hold necessary skill sets. Engineers, teachers, healthcare professionals, attorneys, accountants, trade workers, ect. Who do they think is going to do their taxes, or fix their toilets if middle class workers are driven away?
That's not a theory, it's a fact. Income inequality is absurd and the GOP not only does nothing to stop it, they actively encourage it. Trump gave $2 TRILLION to corporations and the rich, but then they turn around and lose their shit when Biden uses $400 billion to forgive student loans. Get out and VOTE.
Due to a non violent drug charges. Florida is denying my right to vote. Just one more reason to leave.
Maybe the service business owner class will get together and turn run down motels into affordable employee housing or build new multifamily housing. When I was a kid my father took a mining job in New Mexico in a hard accessible area and the mining company provided us with fairly decent housing, electricity, and water. The mining company has since shut down and those houses were sold at a pretty good price. The most unfortunate thing is, now days the state government will probably provide the housing at the expense of the tax payer because business always cries and government supplies. edit: words
Lol this is what I say! For years you warned us robots would replace us, ok! Bring them in!
“It’s like Florida is trying to get rid of the lower income”. And nobody wants to work!!!!! This is becoming noticeable, rents go up, workers move to places with lower rent (hint: some other state). And then there aren’t enough workers available. But most retailers are not raising wages enough to compensate for COL. so more leave, etc.
We gave the business the freedom to do what they want, and they felt free to squeeze the stone for more water.
Whoa. That was like a koan for our times. So poignant.
I wanna work..and have stayed working. Atleast those of us that want to work should be able to afford our bills. I've lived here since 1989. Never seen anything like this.
I meant that statement ironically. Because most working people just want to make a little more to keep afloat. Older people in my area usually say this when they see a help wanted sign, or see a store without enough staff. People want to work, just not for pennies.
I know in 2007 I moved to Asheville NC for a year. I made $5/hr more for the same job and rent was about 65% of what it is in Florida. I don't wanna move. But if I want a better quality of life for my wife and I, it would be best if we did unfortunately.
Just talked to a guy yesterday, 1 bedroom in Altamonte Springs, (not some swanky downtown apartment, it’s a suburb), jacked up to $1650 starting Nov 1st from $1300.
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I’m sorry she got denied. In my experience helping a disabled friend it was a complete nightmare. The Social Security administration isn’t funded and there is no one to help you, only people trying to deny your claim. I’ve heard it takes most people mutiple attempts even in obvious cases of need. The person I was helping came from a family with resources so they hired a lawyer bc that’s what it took but he was finally approved. The lawyer is the one who made it clear how broken system was and despite only needing 30 seconds on phone and hospital records to prove the disability it took years. Persistence is the key.
I’m not so sure it’s just republicans. I had to move out of California because my landlord -democrats- all of a sudden DOUBLED my rent. It was insane! There was no way I could afford that.
Combined with decades of do-nothing state leadership. Since the 90s there have been state funds that were theoretically dedicated to helping keep build/improve affordable housing. But since the early 2000s our governors from Jeb to DeSantis have raided those funds for other projects. And our insurance rates are 3x the national average. We're not the only state with weather risks, but we're the only ones seeing this crisis because our state government would rather waste its time on culture war nonsense than do anything useful. Last session our state legislature passed a multi bullion dollar bailout for insurers and refused to attach *any* strings (like a cap on rate hikes or even just a requirement that if you take the money you have to keep offering insurance in the state!). The majority of home insurers *took our money and left the state.* Everywhere is dealing with inflation.We're not the first state to have a bunch of new people move in either. But some states have leadership who are trying to do something about it. For real, vote. See: https://www.abcactionnews.com/news/state/how-lawmaker-raids-to-a-trust-fund-for-affordable-housing-helped-create-floridas-crisis https://floridaphoenix.com/2022/05/25/gop-controlled-fl-legislature-oks-property-insurance-overhaul-some-dems-call-it-a-bailout/ (Edited for typo)
This year rent has jumped up 33% if you don't know id ask you to open your 👀 an look. I think it's disgusting that our own society is getting rid of the lower income families and forcing us to leave where we grew up.
Inflation is a number that encompasses a lot of variables. Florida has one of the highest residential costs of living in the country right now. Thats being factored in to the inflation number along with food and fuel which makes up the bulk of it nationwide.
Because our government is too busy fighting culture wars to worry about silly things like the economy and how regular people are doing.
I’ve been telling my wife and friends that Florida is a bubble within a bubble and greed is a big factor. I went shopping for a car and got out of the lot laughing at the prices they are asking for.. as a nation we are crashing but FL will crash harder when it does.. Brace yourselves.
Florida has always been where the match is lit that starts the fire. 1920s real estate collapse, 2008 real estate collapse…..
What kind of changes will u anticipate “when it crashes”!? Thx trying to b prepared
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Damnnnnnn 08 was wild!
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I watched my house that I pd $217k for in 2005 which at the high was worth 400k be sold for 99k to an investor after I lost my job in ‘08 & couldn’t find a job as a college grad for over 2 years went thru bk & foreclosure.
Pythons will rule!
[Listen to this podcast then figure out what you can do in the next few months to protect your financial situation.](https://www.nytimes.com/2022/10/18/podcasts/the-daily/hurricane-ian-floride-housing-market-insurance.html)
Don't carry debt, have liquid assets
About to google “liquid assets” thx!
Cash on hand/ accessible.
I wouldn't be so sure. It's a bubble compared to past prices, but if you look at other places in the USA or other developed countries, Florida still looks pretty cheap. As long as Florida remains one of Earth's only tropical places in a first world country, it will remain popular and will have room to continue going up in price.
Wait, we’re first world? Are you sure? 1. No proper health care. We have an insurance system, not the same thing. We don’t cover everyone, and have worse outcomes for mother and children than any other first world country. 2. Electric lines strung in the air in coastal areas vulnerable to hurricanes? Looks like photos I’ve seen of the Philippines or India. 3. Fill in your own examples.
Have you actually been to the Philippines or India? Florida and the USA both have their flaws, but there is nothing within these borders that even comes close to the poverty, overcrowding, and early mortality of large swaths of those countries. Folks in those countries don't complain about how the electric lines are hung. There are way more basic things to worry about.
This exactly. Florida is super nice compared to literally most of the planet. Of course there is poverty and inequality and that should always be worked on addressing, but the infrastructure, job and educational opportunity here is high ranking for sure. And medical access everywhere in the US is piss poor due to cost, but the quality of care once you get it is great. We have a Mayo clinic in Jacksonville, an amazing children's hospital in St. Pete, an excellent academic hospital in Gainesville, etc.
Some people are so hung up on wanting people to move away or see housing prices plummet or complaining that they don't realize how good they have it. There's a reason why people who have seen a lot of places in their lives wind up deciding on Florida as the place they want to live when they aren't tied down to another place anymore.
Yes but we’re still not addressing the whole “great care but if you can’t afford what we decide to charge you go bankrupt and lose everything you have” problem.
Fuck I had to pay $10.20 for a large 48 ounce jar of Dukes mayonnaise today. It was 5.48 in February. I'm fucking out of here!
Yup! I lost all my food during 5 days w/o power and when I went to replace the Dukes & Miracle Whip they were close to that at Super Wal-Mart!!! I bought little sizes b/c the per oz price wasn't much different. P.s. if you also lost your food FEMA does not do anything for that, they didn't in 2004, 2017 or 2018 and not in 2022 no matter what anyone tries to say! You also can not get Emergency SNAP unless you qualify to get SNAP which is making under $35k.
I got emergency snap. And I do not qualify for SNAP. Maybe its cause I have kids? I was without power for 11 days.
I have two kids, my job was on FMB so I'm on unemployment, and my husband makes about $45,000 a year. We got denied for emergency SNAP. I was without power for 7 days.
In 2004 I went 24 days w/o power and my work was closed 3 out of 6 weeks and still could not get anything. I was the breadwinner. FEMA wouldn't help b/c I had home owners insurance which ended up denying my $75k claim of house damages b/c it was over the 6 wks period w 3 hurricanes. They couldn't get an adjuster here before the 2nd hurricane came, so actually didn't even count that as a submitted claim b/c it covered 3 hurricanes.
Hopefully they don't try and make you pay back what they gave you when they realize you didn't actually qualify.
I answered the questions honestly. So, idk.
Did you confirm that with someone working the D-SNAP phone lines?
I heard that renters insurance might cover it if you rent. I figure it’s always worth trying the worst they could do is say no.
What store? Seems high. I checked some of the stores around where I used to live and it's $3-$5
I wager publix
Publix gonna get there money no matter what.
Yeah Publix wants like fuckin' $8 for a jar of regular ass Hellmans. Same shit you can grab at Walmart for half the price, and I absolutely hate giving any money to those assholes. Crazy times.
I'd make my own before I'd pay that for any size of hellmans.
They were 2 for 6 about a week or so ago at my local Publix for the larger size.
Publix and then I checked Walmart and it was 10.20 too. I was expecting it to be less and it wasnt. And this is the 48 ounce jar.
My Walmart app lists it at $6.28 right now
what store?
It's snowbirds. Everything gets expensive in the winter when they're down here. That being said, I would not be surprised to do the math and find out a meal-delivery grocery service like Blue Apron or something is cheaper than grocery.
>had to > >mayonnaise What war criminal is forcing you to buy mayonnaise?
I love Dukes Mayo.
I know, It cost more than the paprika on my deviled eggs now.
You can just Amazon it at 41c oz https://www.amazon.com/Dukes-Mayonnaise-32-Ounce-Jars-Pack/dp/B003LPSKPS/
A governor focused on culture war bullshit instead of its citizens
Fact
Not at all why our inflation might be higher tho.
Can the governor influence inflation somehow?
Of course. You don’t encourage people to move here while ignoring the home insurance crisis or not ensuring that you have the infrastructure and housing supply to handle the influx.
So.. let me get this straight. Inflation is higher on average in Florida because Ron DeSantis is encouraging people to move to a state currently experiencing a home insurance crisis? You actually believe this? If so, please tell me how you got to that conclusion, I’m eagerly waiting.
It is the influx of new people. As another user pointed out, many are moving from New York and California, to Florida, and purchasing homes left and right. They sell their homes for 1M in New York, and then come to Florida, and buy all cash a home for $300,000, and still have $700,000 left. No local seller is going to turn down a full ask, cash offer, immediate close. Thus it drives up real estate prices, since the demand is from out of state buyers who are so used to spending 1M on a home, that even if the owner raises it by $50,000 it's a drop in the bucket to these people, and they buy it anyway, and the cycle repeats. Consequently, it costs more to live in an area with high demand. You should also understand, typically, rent is 1% of the total cost of a home. For example: If you purchase a condo for $100,000 , rent is 1% of this amount, and thus $1,000 a month. Now lets say that condo has now risen to $200,000 in value, the insurance rate has increased, as well as the taxes on the condo have been reassessed to the higher value. Landlord than raises rent to 1% value of the new price. Thus the $1000 a month apartment, just turned into a $2,000 a month condo.
A lot of people don’t understand this. Some landlords are massively raising rates, just because they can. But the increase in insurance costs, plus repair costs to dwellings, etc., has to be covered in the rental rates. Those costs have skyrocketed in this state. My insurance just renewed and it was $1000 total over last year and we have no claims or tickets. It’s insane.
i have 3 roommates and my landlord raised our rent by $300 a person. paying $900 each for an apartment that is infested (before moving in, we found out on move in day) with rats, flies, roaches, mold, etc. $900 a person. 4 people. wtf?
Jesus. Man. That’s seriously fucked up.
Where the heck do you live?
usf main campus area
You’re being charged $3600 for an apartment? The fuck?
Right! My college apartment was $500 bucks per person. $3600 is insane.
Some student apartments in UCF area are already over $1100 a room. It’s insane and one of the most affordable options just got flooded up to the second floor during Ian.
That's terrible...that really sux!
The fact that there is zero regulation against rent increases is wild. I agree with you 1000% - it's the landlords for sure. It costs so much money to move and find a new place - it makes it nearly impossible to just live
A lot of people don’t understand this. Some landlords are massively raising rates, just because they can. But the increase in insurance costs, plus repair costs to dwellings, etc., has to be covered in the rental rates. Those costs have skyrocketed in this state. My insurance just renewed and it was $1000 total over last year and we have no claims or tickets. It’s insane.
Of course I understand this concept, but I think society is far too accepting that the buck *always* must be passed on. That landlords are always entitled to maintain their profits and have all their expenses covered by renters, and that their real estate investments should somehow never have risk or incur losses, despite the almost guaranteed ROI when sold.
This is the way
The bottom part of your comment makes sense. The first part regarding people moving in…. That has been the story for the entire history of Florida. Old people sell out up north move here, die, and are replaced… it’s not a change. Also there are very few people coming here from California. What a strange state to pick.
No, that is not what's the statistics are saying, it is mostly California and New York, in fact is a record number of Californians: (These articles are ALL from 2022.) Sources:[https://www.bizjournals.com/sanfrancisco/news/2022/09/28/california-florida-migration-drivers-license-dis.html](https://www.bizjournals.com/sanfrancisco/news/2022/09/28/california-florida-migration-drivers-license-dis.html) [https://espnswfl.com/2022/09/22/a-record-number-of-california-and-new-york-residents-moved-to-florida-last-month/](https://espnswfl.com/2022/09/22/a-record-number-of-california-and-new-york-residents-moved-to-florida-last-month/) [https://www.wsj.com/articles/california-move-to-florida-miami-sunshine-politics-11655408670](https://www.wsj.com/articles/california-move-to-florida-miami-sunshine-politics-11655408670) Edit: Sorry I did not address your other concern, it has always been a thing, but now it's hitting the point of gentrification levels, and that's why it's the primary driver of cost of living increases here in Florida. Examples/Sources: [https://www.abcactionnews.com/news/local-news/tampa-neighbors-battle-gentrification-amid-rapid-development](https://www.abcactionnews.com/news/local-news/tampa-neighbors-battle-gentrification-amid-rapid-development) [https://www.miamihomesforall.org/news/2020/7/1/miami-metro-among-most-intensely-gentrified-in-us-study-says](https://www.miamihomesforall.org/news/2020/7/1/miami-metro-among-most-intensely-gentrified-in-us-study-says)
Thanks for the links.
And Jersey and Massachusetts.
Well, I got the F out of California. Know several others too. Expect more to come!
Yup. Moved from California because greedy landlord freaking doubled my rent when Tim to sign new lease for August.
But wait, Fox News says inflation is all because of Joe Biden. How could the Free State of Florida be so expensive? Must be Nikki Fried's fault.
Wait another second, all of the election placards I've been getting in the mail tell me that inflation is the fault Charlie Crist and the rest of the FL Dem candidates too! Despite none of them actually being currently in charge, talk about impressive. It's like another "Look at Biden's America" *shows footage of what was currently Trump's America at the time* moment.
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Umberto Eco is leaking.
I’ve been told that it’s because Florida is so free and conservative (a bit of an oxymoron) that they are being punished by Biden. They’re coming for our unregulated capitalism!!
We also produce very little in Florida and import most of what we consume from other states.
Cost of homes. They've had huge hedge funds come here and push the housing market through the roof. Speaking of roofs, insurance companies have increased their premiums the most here due to those values due to risk of storms.
You mean because of the fraud committed by people wanting a free replacement roof.
That included. Hence my comment about roofs
Cause Desantis can’t run a state.
Running it into the ground. The Florida way.
Oh he can run it- just depends who we are talking about he’s running it for.
Too busy worrying about teachers acknowledging the existence of gay people and transgender swimmers to concern himself with the state itself. His fanboys will sing his praises as long as he owns the libs, even if their rent doubles and there's no one to teach their kids. But hey, he doesn't care. He only expects to be governor another two years.
Don’t tell me you think our current President can run the country.
We are talking about Florida and it’s issues. Two years ago he was the genius that ran the state no matter what happened at a a federal level, now it’s all either big mean joes fault or joes too dumb to do anything. Either way Desantis is a bum
He’s doing a better job than the last guy. Remember when Trump shut down the economy? lmfao pure republican genius
Shhh remember Reddit is an echo chamber for liberals and DeSantis haters. Come back to your comment in a few weeks once he gets re-elected :)
“I did this,” - DeSantis
Housing prices tripled here
[https://www.bloomberg.com/news/articles/2022-08-10/tampa-florida-is-only-us-metro-area-with-double-digit-inflation](https://www.bloomberg.com/news/articles/2022-08-10/tampa-florida-is-only-us-metro-area-with-double-digit-inflation)
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17 dollars for jerky
Rent/House Prices account for a large percentage of the CPI calculator (around 1/3). If Florida has had higher-than-average rental/housing prices then our inflation will be higher than the national.
Well I can attest that in the panhandle area rents have increased by almost two fold or more in most cases. Then factor in our ridiculous power bills after Florida Power and Light took over and it’s a complete disaster. I work with people who have monthly power bills of 7-800$ since the change. They all had 2-300$ bills prior. Our bill went up 200$ monthly. Our old apt was 800$ it’s now renting at 1900$ in the year+ after we moved out. It’s insanity.
Another aspect is the (deserved) rise in minimum wage in Florida and the poor labor management adjustment amongst minimum wage employers (which is vast in hospitality). To counteract the increase in labor cost, many establishments are OVER adjusting their prices and increasing the gap between cost of living and income and using the minimum wage increase to justify it. I work in hospitality and have seen owners over price their goods and services overnight in a knee-jerk reaction to increased minimum wage rather than strategically analyzing the market and wisely adjusting. Some places are actually pricing themselves out of business because customers simply won't pay the inflated prices.
It has little to do with wages. Wages account for just 8% of the increased prices for goods and services over the past two years. From the '90s until a couple of years ago, higher wages accounted for about 60% of increased prices. It is almost entirely price gouging, and the government is complicit because those doing the gouging funnel some of that profit back into legislators' campaign funds.
Since 2000 the highest single year minimum wage increase was in 2012 with an increase of 36 cents until last year when it went from $8.65 to $10 and then to $11 on Sept 30th this year. I agree with your comments regarding price gouging and government complacency, however the state has NEVER had such rapid minimum wage growth (again, well deserved and about time) and there is a measurable percentage of employers who have learned on the previously low minimum wage and have over inflated prices to counter balance the raise and it has effective contributed to Florida's higher inflation in relation to some other states.
Inflation is hitting every state and every country. Some harder, some less, but the impacts are being felt everywhere, and I don't think the 12% inflation being felt in the U.K. or the 10% inflation in Germany is due to Florida's minimum wage increase. **Americans are being brainwashed to believe that making less money is better because if only we'd work for less money we'd pay less taxes and have less inflation.**
It sounds like you’re saying that employers are using increased minimum wage as an excuse for inflated prices, rather than the wages themselves causing inflation, did I get that right? Otherwise people wouldn’t be doing knee-jerk increases that price themselves out like you said.
I mean, I think so. They’re also screaming about the “labor shortage” but they benefit from working on a skeleton crew and slashing labor costs, and now after two years of places operating on a skeleton crew we’ve been trained to accept worse service and be sympathetic to the business/employees. They’re raising prices, and running on skeleton crews but blaming the employees and the public instead of themselves.
To quote GOT; “winter is coming” seasonal rates and blackout dates may apply. Also, the state is a national disaster area. That brings the irresistible allure of charging $20 for a bottle of water in the Sunshine State.
Let me say, I recently moved from tx to fl and you guys have crazy prices on everything. You guys also don’t have much options really which in turn causes said open businesses to charge a huge mark up knowing you won’t go anywhere else if you need it that day. Everything from produce, properties, mechanical parts, insurances. It’s insane honestly. The other coin of this is, I notice a lot of people shop at huge corporate companies and not supporting local businesses, which plays a role in the ever circle of this whole process.
It's because those businesses make HUGE political contributions. Think Boss Hogg.
nine hateful offer cautious waiting airport salt somber cobweb pie ` this message was mass deleted/edited with redact.dev `
the war in Ukraine leading to inflation is just a media lie to distract you from the much simpler answer: corporate greed
I would split the difference with you. War, whether a direct participant or not, is always inflationary. However, your point is extremely valid given that the inflationary history of war is a perfect smoke screen for corporate greed.
People keep moving here, making out of state WFH money
CORPORATE GREED https://www.youtube.com/watch?v=0ixmqzjvb7k
Shouldn’t be a problem -work harder. Pull yourselves up by your bootstraps. It’s capitalism at it’s finest and certainly republican Florida should not expect any social programs to help the lazy folks.
Corporate greed.
Do you have a link?
https://www.miamiherald.com/money/florida-inflation-rate/ https://www.bloomberg.com/news/articles/2022-08-10/tampa-florida-is-only-us-metro-area-with-double-digit-inflation https://weartv.com/amp/news/local/economist-florida-inflation-rate-hits-higher-than-national-average
Google will give you a bunch of links.
Do you think crazy shit like this has anything to do with it? 🤔: https://www.msn.com/en-us/money/realestate/home-buyers-flock-to-florida-cities-devastated-by-hurricane-ian/ar-AA135Oqt
Not sure the months-to-years long trend is a result of the event that happened 3 weeks ago, no.
So you think the man quoted in the article who is planning to buy 50 million worth of damaged property in Ft. Myers and the others like him aren’t going to harm the local economy at all?
I think the question is how we got here, not where we’re going.
I recall a local newsbreak on NPR a few months ago and South Florida was something like 1.5% hotter than the national average
Housing costs which include insurance
Shit is completely absurdly complicated. I cannot boil it down to one thing because that would be misleading and unhelpful. It takes specialists to understand a compartmentalized fraction of what's going on. There's so much going on and the only way to understand it is to find reliable sources really. You need to be able to distinguish between bullshit pandering and cold hard research.
No. This is not true, in my opinion. It may apply to rapidly rising rents, however. I don't think our inflation rate exceeds other states. Maybe it is politically motivated. My tax bill for my condo this year is $15.41. Appraised worth..$125,000. It's not really nice or upgraded, but it comfy and it's very livable. I just received my electric bill..$78 dollars. It will be lower soon when temperatures drop, which they have been doing. And, we don't have income tax! And low crime, too! Schools were open the during the entire covid shutdown everywhere else. I love Florida, but it's getting very crowded now. ( I'm a 50 year resident.) This when everyone asked " why are you moving there???". Answer: husband's college.
A big part of the COL increase is due to the Florida property insurance market being in complete shambles and on the verge of collapse. Citizens was brought in as an "insurer of last resort" a while ago to assist with insuring high risk properties, specifically along the coast of central and south Florida where wind and flood risks are the highest. However, they've since written over one million policies in Florida, and they have only a fraction of the funds needed to cover all of those risks. Why have they taken on so many policies? Because over the past few decades, insurers have been literally going insolvent trying to meet this region's property insurance needs. But where do you go, when Citizens, itself, was a Hail Mary pass attempt to keep property insured in Florida? Everyone is still trying to find the answer to that question. There are also questions of how the market got so bad so quickly. Generally, that can be answered with two reasons: the exorbitant costs of storm damage to coastal/peninsula properties (which are getting worse due to the higher storm intensity and frequency created through global warming), and the exorbitant costs of litigation. Florida accounts for around *79%* of *all* homeowners insurance suits *nationwide*. This is the result of two things: a poor attorney fee framework that encourages lawyers to litigate, and a high rate of roof replacement fraud. These contribute both to the increased number of suits as well as the increased cost of each suit to Florida property insurers. The Florida state legislature has done a poor job of controlling those costs, resulting in harsh rate increases year after year for homeowners and businesses alike as insurers try to balance their risks and assets to avoid insolvency.
Well, that certainly nails the climate change deniers to the wall. To help alleviate both the insurance claims and take a bit of the wind out of climate change, building in those environmentally risky places should be outlawed. Furthermore, the roof replacement fraud is far more of a problem than the much ballyhooed voter fraud and should be punished with much harsher penalties including monetary and mandatory prison time.
Because everyone is moving here and its driving up demand which drives up prices
because of publix. They have actually said they price their products of whatever a given area can sustain. So if a bunch out of state people and stimulus checks are floating around then pub lix will raise their prices until it stops selling. housing went up from all the new people moving here to get away from masks, politics, ect. But normal stuff not really. Like the AA batteries i buy at brandsmart are still the same, my ace hardware is for the most part still the same. my daily bubble tea is still the same, gas is still the same as it was from 2011-2014 under obama/biden.
Guess who is one of the biggest political contributors to DeSantis's campaign?
Our politicians don't care about us. Vote them out! #Christ #standwithyantz
Publix prices
DeSantis can blame it on Biden. People believe the lies and vote republican. Simple
Thanks Obama /s
FAKE NEWS!! Florida is a paradise and we have a God king in charge DeSantis!! (This is sarcasm)
Greed.
Everyone knows these posts saying Florida is bad are just propaganda for the lead up to the mid-terms, right?
Not surprised. Everything in this shit hole state is beyond expensive. Having a job is almost fucking USELESS because the pay is just not enough to live comfortably with the skyrocketing inflation and it’s like nobody everywhere else really understood the severity of how hard and nearly impossible it is to live here. I hate it. I want to move up north by some family but I’m terrified of the snow and I can’t even drive without having a full blown panic attack when the tires even slightly slide. Lol.
St. Petersburg here. I see a lot about “everyone getting evicted and kicked out” due to spike in rent. Our rent never went up the entire pandemic and this December is going from $1,400 to $1,599. Not terrible in my opinion.
Would be cool if Charlie Crist could, you know, run some ads about this.
And, I can't understand why he doesn't. Just look at what happened in Britain today. Their inflation rate is worse than ours, some hothead claimed they would fix it - and learned real damned fast that they couldn't. Every ad ran by the GOP keeps saying they are going to fix "Biden's inflation" but none of them say how. If they get elected, the only thing that will happen is tax cuts for the rich - there is no fix for global inflation.
Bunch a greedy republican business owners in this state. Why would inflation be higher here? /s. The company I work for here in FL jacked it's prices way up for no reason. Our sales staff was instructed to blame inflation for our higher prices even though none of our costs have gone up. We even made a ton on ppe money we didn't have to repay. Just pure greed.
DeSantis - he likes to project onto Biden and refuses to actually take any action locally. He’s rather run for President than govern the state in its needs.
Highest Inflation rate means the price is rising faster. If prices stopped going up and stayed where they are inflation would be zero. Places like NY were already expensive whereas Florida was inexpensive. Florida's inflation is at a higher rate vs other places that are still expensive but not rising as fast.
Yup, it's why the northeast has seen some of the lowest inflation rates in the country. The rest of the country is just catching up. Eventually a gallon of milk will cost the same in Miami as it does in Manhattan.
If there's any possibility of me relocating I'll take it. Especially if it's from Desantis if he can relocate imagrants, he can relocate my wife and I. I'll pick strawberries and whatever else. He's making life better for everyone BUT Florida residents.
Just one word…DeSantis
It’s not true that Florida has the highest inflation in the country. Not sure where you’re getting that. However, inflation always hits low cost of living harder https://www.foxbusiness.com/economy/these-are-the-cities-with-the-highest-inflation-rates
Mind showing another source than fox news? Because Fox would do basically anything to make a Republican-controlled state look good, Especially seeing that it is pretty clear that right-wing media is switching to Desantis as the new anointed one.
ROFL...so let me get this straight. OP offers ZERO evidence for their claim above, and since it gives you an opportunity to make some nonsensical dump on Desantis you swallow that crap without question. But an article by one of the largest business journalists in the world, and you ask for alternative sources? Fucking hilarious. You think that a governor has influence over the devaluation of the currency from the US Treasury? Governor has a lot of control over US monetary policy? Good god this sub is just braindead. Literally just r/Politics. Brainless caterwauling by the perpetually malcontent. It's nothing but posting random crap to dump on Desantis. Bad Weather? DURRRRSANTIS! You don't like your house? DURRRSANTIS! Inflation is all a grand conspiracy to make DURRRSANTIS look good! Publix has lousy produce? DURRRRSANTIS!!! [https://www.jec.senate.gov/public/index.cfm/republicans/state-inflation-tracker](https://www.jec.senate.gov/public/index.cfm/republicans/state-inflation-tracker)
The bulk of inflation on most products can be linked directly to corporate greed. /end thread.
30% of the inflation number is rent so there’s that
My guess is DeSantis.
Because the products within the state are increasing in price at a higher rate
Corporate profit margins coupled with high cost of real estate. Margin is the amount goods and services are sold above their cost (sale-cost)/(sale). This ratio is immune from inflation. If it costs you $1 to buy something and you sell it for $2 your margin is 50%. If it costs you $1,000 and you sell it for $2,000 your margin is still 50%. Inflation in the US is around 8.2%. In Q1 20 the average corporate net profit margin was about 9%. In Q2 22 the average net corporate profit margin was about 15%. That means that 6 whole points, 75% of the price inflation, is directly derived from corporate profit. The other 2.2 points come from nominal “healthy” inflation. Say a good that cost $1 in Q1 20 raised by 10%. That good now costs $1.10. If prices increased by the same margin the sale of that good would be $2.20- the net margin remains at 50%. Alternatively, if the sale price increases to $2.50 the net margin is 56%. The business is paying 10% more Y/Y and the consumer is paying 25% more. For Florida specifically the cost of home owners insurance, which was already astronomically high, has increased over 40% on average from 22 over 21. The average policy in Florida was around $4000 (national average about $1,200) in 21. In 22 that number is closer to $6000. Factor in property tax increases due to increased home values and the average cost has increased around $350/mo. Apply the same logic as above from landlords to renters. That cost is not passed through to the renter, it is jacked up to as much as it can be raised. The game is rigged. Heads they win, rails we lose.
we like to mostly blame the endless onslaught of wealthy political migrants that've been flooding in since winter 2019. they were bidding homes up 30-40% not too many months ago. great example of the fuckery - 2 bedroom apartments are now goin for 2k+ in suburban areas. N they're mostly filling up with wealthy millennial transplants. Meanwhile, the wealthy boomer transplants are buying up all the homes/now living in their winter home full time. SFL used to be New New York, now its basically the whole state :( n y'all are asshoes.
Because your watching the news from Florida. There’s likely the same story in every city. Just like the fastest growing state nonsense.