One of the biggest issues in Florida right is affordability, especially in housing.
With all the people that have moved to Florida, the cost of homes and apartments has risen substantially.
New Construction if Florida is booming, housing developments and apartments are being built everywhere, and they still can’t keep up with the number of people moving here.
With the price of housing rising substantially, it also raises the price of existing homes which has driven up property taxes.
This is a good problem to have in many ways, the only way to solve the problem is to keep building until the supply of new homes and apartments meets the demand of the number of people moving here or reduce property taxes on the primary residences of the citizen.
IMO, if this amendment passes, local governments will declare financial Armageddon at first then get creative and really prioritize spending and then spread taxes out to more people by probably raising the sales tax 1-2% which wouldn’t be noticed that much and result in tourists paying the same rate.
I subscribe to this guy on YouTube called Reventure Consulting. He mostly is trying to sell his APP.
However, he was the first person to call a top to some of the real estate markets in the south. Such as Austin. Then Nashville.
He is now located in Florida. I think he even bought a condo down there somewhere. However, it was a quite a discount to what they were once asking. He is showing that prices are coming off pretty big in some parts of Florida.
I see the building starts by metro in Florida and every other major market in the USA. I subscribe to a service.
Orlando is now one of the largest construction markets in the country. However, all the other Florida markets are pulling back from their high in starts/permits in 2022-2024.
Almost all the major markets in the country have pulled back from their peak in 2024 of 1.6 million starts.
The majority of the building starts are still in the south.
Where as the north is reconstruction. In NYC there are tens of thousands of office space being converted to residential housing. Same in almost every other metro area. Even here in Manchester, NH they converted a 22 story downtown building built in the 70s to apartments. Very expensive apartments.
Even the largest markets in the country Dallas/Ft Worth and Houston have pulled back. They are still the two biggest volume of raw building starts in the USA. Phoenix is still third. LA, NYC, Austin, Atlanta, and Orlando are all in the top ten. Orlando is the newest entry into the top ten.