The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.

For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.

But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.

  • CmdrShepard@lemmy.one
    link
    fedilink
    English
    arrow-up
    3
    arrow-down
    6
    ·
    1 year ago

    Yeah we saw that happen in places like Detroit during the recession, but I doubt it’ll get quite that bad ($100 homes) since Florida at least has good weather going for it.