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Inside South Florida -21

August 23, 2022

Apartment Construction Record

A jump in apartment construction in the US may help provide some relief to renters who’ve faced soaring prices -- eventually.

This year, 420,000 apartments are expected to be delivered nationwide, according to a study by listing service RentCafe. It would be the second year in a row that the industry tops 400,000 units, a mark that was last reached in 1972.

According the study Miami built 2,996 apartments in the first half of 2022

Zillow Prediction

Zillow now predicts that U.S. house prices will climb just 2.4%. That’s down from the 7.8% it forecast just a month earlier. Read More

Last week we posted about Moody's forecast

Miami-Dade housing market finally cooling

Home prices dipped in July for the first time in Miami-Dade County since fall of 2021, providing a silver lining for priced-out buyers desperately trying to catch a break in an ultra-competitive housing market finally losing steam. Single-family houses last month came with a median price tag of $570,000, down 2% from $579,000 in June, according to a monthly housing report released Thursday by the Miami Association of Realtors. Condominium prices, meanwhile, declined 7% to $380,000 in July in Miami-Dade, from $410,000 the prior month.

August 26, is the last day registered homeowners can apply for HAF aid

The state’s funds, part of federal laws, are created to prevent mortgage delinquencies, defaults, foreclosures and displacements. They can also provide assistance with home energy services, internet costs, property and/or flood insurance, property taxes, and homeowner or condominium association fees.

Under the plan, each state oversees distribution. Of the money allotted – a minimum of $50 million per state – Florida received $676,102,379 through the U.S. Department of the Treasury.

Florida unemployment claims dip again

Florida posted its fourth consecutive week of decreases in first-time unemployment claims, according to a U.S. Department of Labor report released Thursday.

Rent control initiative

The Florida Apartment Association and the Florida Association of Realtors last week sued Orange County in an attempt to invalidate a ballot initiative aimed at limiting how much landlords can increase rents. If passed by voters in the fall, it would be the first such measure in decades in the Sunshine State.

Miami Takes On the Socialist Model

Californians and New Yorkers flock here for relief from high taxes, crime and regulation.

By Francis X. Suarez

Read More at WSJ (subscription may needed )

✔ Events

The Frost Science Museum's exhibition of the mammoth ice age

1–31 August

The fourth floor of Downtown Miami's Phillip and Patricia Frost Museum of Science is occupied by mammoths as the museum's newest permanent exhibit. This includes a 10-foot-tall skeleton of a juvenile woolly mammoth. The fossilized remains of several cat species, including lions and mastodons, as well as their skulls and teeth, will teach you more about the other species that inhabited the planet during the last ice age.

College football is back: college football returns on Saturday. The biggest game of the week is Northwestern vs. Matty’s beloved Nebraska—a Midwestern matchup that’s actually being played in Dublin, Ireland.




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