Naples Looks Expensive. The Housing Price Is Only the Beginning.If you're researching the cost of living in Naples, Florida, housing is the expense that gets most of the attention—but it isn't
Dated: January 18 2023
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Hurricanes cause a temporary increase in home prices, most likely as a result of the sudden decrease in housing supply caused by storm-related destruction.
However, prices return to baseline levels after an average of three years, which is roughly how long it takes for a region's housing stock to recover to pre-storm levels. In fact, perhaps counterintuitively, the housing market attracted wealthier residents.
During the three years following a hurricane, home prices in hurricane-ravaged regions are, on average, 5% higher than in unaffected areas. After three years, prices return to pre-storm levels, but do not fall below them. Gentrification in Florida could result in increased insurance claims from the National Flood Insurance Program (NFIP) in the aftermath of hurricanes, thereby increasing the burden on federal taxpayers.
(full article: https://www.floridarealtors.org/)
Full time REALTOR since 2002, I moved from the Detroit area to SWFL in 2007. Since 2011 I have been the broker/owner of Sharp Homes Realty, a small boutique brokerage based out of Cape Coral. We are f....
Naples Looks Expensive. The Housing Price Is Only the Beginning.If you're researching the cost of living in Naples, Florida, housing is the expense that gets most of the attention—but it isn't
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