Florida Home Sales Are Falling Through Amid Insurance Crisis

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that Florida is seeing a sharp rise in broken home sale contracts, with 15% in Miami and 17% in Jacksonville—far above the national average. He attributes this trend largely to the climate insurance crisis, as many buyers are unable to obtain home insurance, which is a requirement for getting a mortgage. McIntyre warns that if this continues, Florida’s real estate market may face a steep decline in property values.