Realtor Robby Turner says a $169,000 home is considered in the affordable range, but that’s not what always determines how long it sits on the market these days. You can blame skyrocketing insurance rates, or worse.
"It seems the larger issue is, will a person get insurance at all, and quite often a homeowner, a homebuyer has to go to several companies before they can find someone who will actually write the policy," said Turner.
Florida’s housing industry is just one of many impacted by the insurance crisis and business owners are hoping lawmakers don’t overlook them during the special session later this month.
The governor and legislature must be careful to send the right message. A coalition of business owners, including insurance execs, hopes lawmakers won’t try to pass a batch of new regulations.
They warn that even fewer insurance companies might be willing to do business here, and John Sebree of the Florida Association of Realtors says that won’t help struggling businesses.
"This is not just a residential issue. We hear from commercial building owners every single day that commercial structures are feeling the same crisis,” said Sebree.
The group hopes lawmakers will focus on consumer-friendly proposals like helping more people harden their homes against storms, but that may not fly with homeowners who think it’s high time the state stood up to the powerful insurance lobby.