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Hurricane Ian walloped Cape Coral, Fla. Two years later housing costs have spiked
Jerry Smith moved to Cape Coral from New Jersey because, “it was my vision of what I wanted the Florida lifestyle to be like.”
Greg Allen/NPR
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Greg Allen/NPR
CAPE CORAL, Fla. — The Atlantic Hurricane Season, which starts Saturday, is forecast to be an especially active year.
On Florida’s southwest coast, more than a year and a half after Hurricane Ian’s high winds and flooding caused more than $117 billion in damage, the fallout continues. Housing costs and insurance have spiked, prompting many to put their homes up for sale.
Concerns about hurricanes and climate change have raised questions about the long-term affordability of coastal communities like Cape Coral. The city of more than 200,000 residents near Fort Myers is on the coast, but there are no beaches. What Cape Coral does have is 400 miles of canals giving many homes direct boat access to the Gulf of Mexico.
Jerry Smith moved to Cape Coral from New Jersey three years ago during the COVID pandemic. Standing on his back patio, he looks out on his pool and tiki hut, along with his dock and boat. “If you’re living on the canal and you have access to the Gulf of Mexico, it was my vision of what I wanted the Florida lifestyle to be like,” he said.
Smith’s house received only minor damage in Hurricane Ian. But like just about everyone here, he’s seen his insurance rates go up. “The insurance industry has been tough on people here in Cape Coral,” he says. “There are significant raises in rates. And I think it’s one of the burdens that people have to really contemplate. Can they afford it?”
One thing most everyone agrees on in Cape Coral is that it could never be built today. In the late 1950’s, developers bought a 100-square-mile peninsula on Florida’s Gulf coast where they bulldozed mangroves, drained wetlands and dug hundreds of miles of canals. It was a classic Florida real estate venture, with lots sold on the installment plan and advertised as a “waterfront wonderland.” A marketing video at the time touted “the clean, clear air” and “the miles of blue water.”
For retirees and others relocating from the Northeast and Midwest, realtor Sam Yaffe says, Cape Coral had an advantage over places like Sarasota and Miami. “People started discovering us,” she says. “Our prices are cheaper.” In recent months though, sales have slowed in Cape Coral. Yaffe says, ”It is unusual. We do have several months’ worth of homes available.”
The main reason for the cooling of the once-hot Cape Coral home market is mortgage interest rates, now at a 20-year high. But there’s another important factor. Amir Neto, an economist at Florida Gulf Coast University says, “The cost of homeownership in southwest Florida has increased. And that has pushed some people away of those coastal areas, including Cape Coral.”
Spiking insurance rates are a big part of that. A study by a research group, First Street found that Cape Coral has more properties at risk of flooding than any other city in Florida. Jeremy Porter with First Street says to understand why, you just need a map. “Look at all that water,” he says. “For every home almost, there’s a canal. And as you live with water every day, if one of these storms come through, it is going to cause flooding. And the canals themselves are going to be a source of that.”
Following Hurricane Ian, FEMA is now reevaluating the risk of homes in several communities in southwest Florida, including Cape Coral. The federal agency recently announced it’s pulling the city’s long-standing discount on flood insurance. The decision, related to what FEMA said was improper rebuilding after Ian, would immediately raise flood insurance rates by 25%. Cape Coral’s mayor John Gunter called the FEMA action, nearly two years after Hurricane Ian “another catastrophic event.” At a city council meeting, he said, “This could cause other families not to even be able to live in their homes because of the cost of premiums.”
Cape Coral is appealing the FEMA decision. The city recently held hearings for more than 200 homeowners suspected of violating FEMA guidelines. One of those was Sherry Oakes. Her house had only minor damage after Ian and she was able to show that at the hearing. But she’s skeptical the city’s flood insurance discount will be reinstated. “It’s actually kind of scary,” she says. “Because there are just so many things right now that are going to really increase the cost of living here.”
Oakes says she and her husband Ray already pay $8,000 a year in insurance, costs that will go up if FEMA eliminates the flood discount. It’s one reason she thinks so many homes now are for sale.” I think a lot of people that are in the flood zone don’t want to pay these astronomical prices,” she says.
Cape Coral homeowner Sherry Oakes’s home was mistakenly tagged for violations by the city despite having only minor damage.
Greg Allen, NPR
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Greg Allen, NPR
The cost of insurance is expected to keep rising. By 2050, because of more powerful hurricanes and the rising sea level, Jeremy Porter with First Street says nearly every single home in Cape Coral will face flood risk. Insurance, he says, is beginning to reflect the impacts of climate change. “We’ll hear from people, ‘The housing market’s been increasing. It’s been exploding the last few years. Climate change isn’t having any impact.’ Then they’ll pause and say, ‘But insurance is killing us.’”
Homeowner Jerry Smith agrees there’s a rising cost to living so close to the Gulf, but one he’s confident people will always be willing to pay. “The appeal,” he says. “The sun, the water. The marine life, the beach, not having to endure the winter. All those things make it worth the investment.”
Realtors say prices have dropped a little for houses on the market now in Cape Coral. But with interest rates high, more than half of the buyers now are paying cash.
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After 2 failed votes, Mike Johnson unveils new plan to extend key U.S. spy powers
Speaker of the House Mike Johnson, R-La., takes questions at a news conference at the Capitol on Tuesday.
J. Scott Applewhite/AP
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J. Scott Applewhite/AP
Speaker Mike Johnson, R.-La., is forging ahead with his latest proposal to renew a key American spy power. His bill, revealed Thursday, is largely unchanged from a previous plan which failed in a series of overnight votes earlier this month.
The program at center of the debate, Section 702 of the Foreign Intelligence Surveillance Act (FISA), is set to expire on April 30.
FISA 702 allows U.S. intelligence agencies to intercept the electronic communications of foreign nationals located outside of the United States. Some of the nearly 350,000 foreign targets whose communications are collected under the provision are in touch with Americans, whose calls, texts and emails could end up in the trove of information available to the federal government for review.

For almost two decades, privacy-minded lawmakers from both parties have sought to require specific court approval before federal law enforcement can conduct a targeted review of an American’s information gathered through the program. The lack of any such warrant requirement helped sink an effort last week to extend the program for 18 months, as well as a separate vote on a five-year renewal.
Trump officials, like those in past administrations, have argued that such a warrant requirement would overburden law enforcement and endanger national security. Johnson’s latest proposal would reauthorize the program for three years, but does not include a warrant requirement. Instead, the bill calls for the FBI to submit monthly explanations for reviews of Americans’ information to an oversight official as well as criminal penalties for willful abuse, among other tweaks.
“I am willing to risk the giving up of my Rights and Privileges as a Citizen for our Great Military and Country,” the president wrote on Truth Social last week, advocating for the program to be extended without changes. “I have spoken with many in our Military who say FISA is necessary in order to protect our Troops overseas, as well as our people here at home, from the threat of Foreign Terror Attacks. It has already prevented MANY such Attacks, and it is very important that it remain in full force and effect.”

Glenn Gerstell, who served as general counsel at the National Security Agency during the Obama and first Trump administration, says Johnson’s reforms look like an attempt to find a middle ground.
“There’s not a lot of really substantive changes to the statute, but some gestures are made to people who are worried about privacy and civil liberties,” Gerstell said. “It seems like a pretty reasonable compromise that is going to be satisfactory to the national security agencies and yet at the same time represents some gesture to the privacy advocates.”
“This is not a reform bill and it’s not a compromise,” Elizabeth Goitein, a privacy advocate and senior director of the Liberty and National Security Program at the Brennan Center for Justice at New York University, wrote on X. “It’s a straight reauthorization with eight pages of words that serve no serious purpose other than to try to convince members that it’s NOT a straight reauthorization.”
A bipartisan reform deal is still out of reach
Connecticut Rep. Jim Himes, the top Democrat on the House Intelligence committee, told NPR on Wednesday, before the release of Johnson’s new proposal, that lawmakers were working on a bipartisan solution. He said House Minority Leader Hakeem Jeffries, D-N.Y., was in touch with Johnson on the issue.
“There’s a lot of work being done here,” Himes said. “We’re sort of working out a process that will be inclusive rather than exclusive.” Himes said he was negotiating with Rep. Jamie Raskin, a Maryland Democrat and constitutional law scholar, on a reform proposal they hoped could preserve and reform the program — reauthorizing it with bipartisan support.
But Johnson’s new bill appears to fall short of the inclusive approach Himes hoped for.
NPR obtained a memo written by Raskin to his colleagues urging them to oppose the bill, which he said “continues the disastrous policy of trusting the FBI to self-police and self-report its abuses of Section 702 and backdoor searches of Americans’ data.”
“FBI agents can still collect, search, and review Americans’ communications without any review from a judge,” Raskin wrote.
FBI agents must receive annual training on FISA and are generally barred from searching for information about people in the U.S. if the goal of the search is to investigate general criminal activity, rather than find foreign intelligence information, and those searches need approval from a supervisor or an attorney.
Republican hardliners — who sunk Johnson’s last reauthorization attempt — also don’t all appear to be on board for Johnson’s latest revision. Rep. Scott Perry of Pennsylvania, a past chair of the Freedom Caucus, said “we’re not there yet” in a video he shared to X on Thursday.
“I didn’t take an oath to defend FISA, I didn’t take an oath to defend the intelligence community,” Perry said. “We can’t have them spying on American citizens and, when they do, there has to be accountability and I haven’t seen any that I’m satisfied with yet.”
The House Rules committee meets Monday morning, the first step toward advancing the renewal bill toward a vote.
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Trump Says Israel and Lebanon Agree to Extend Cease-Fire by Three Weeks
President Trump announced a three-week extension of a cease-fire between Israel and Lebanon that had been set to expire in a few days, after hosting a meeting between Israeli and Lebanese diplomats at the White House on Thursday.
Hezbollah, the Iranian-backed militant group that has been attacking Israel from southern Lebanon, did not have representatives at the meeting and did not immediately comment on the announcement. The prime minister of Israel and the president of Lebanon also did not comment.
A successful peace agreement would hinge upon Hezbollah halting attacks, which Lebanon’s government has little power to enforce because it does not control the militia. Lebanon’s military has mostly stayed out of the fighting and is not at war with Israel.
The cease-fire, which was scheduled to end on April 26, would last until May 17 if it takes effect as Mr. Trump described it. Before the cease-fire was brokered last week, nearly 2,300 people were killed in Lebanon and 13 in Israel. Since then, the number of Israeli airstrikes and Hezbollah attacks have been dramatically reduced, though the two sides have continued exchanging fire.
The Lebanese Ambassador to the United States, Nada Hamadeh, credited Mr. Trump for extending the cease-fire, saying that “with your help and support, we can make Lebanon great again.” Mr. Trump replied, “I like that phrase, it’s a good phrase.”
Asked about the potential of a lasting peace agreement between Israel and Lebanon, Mr. Trump said that “I think there’s a great chance. They are friends about the same things and they are enemies on the same things.”
But Lebanon and Israel have periodically been at war since Israel’s founding in 1948. Israel has invaded Lebanon for the fifth time since 1978, incursions that have destabilized the country and the delicate balance of power between Muslim, Christian and Druze communities.
In the hours before the president’s announcement on social media, Israel and Hezbollah were trading attacks in southern Lebanon, testing the existing cease-fire.
Mr. Trump said the meeting at the White House had been attended by high-ranking U.S. officials, including Vice President JD Vance, Secretary of State Marco Rubio and the U.S. ambassadors to Israel and Lebanon.
Earlier on Thursday, an Israeli strike near the southern Lebanese city of Nabatieh killed three people, according to Lebanon’s health ministry. Hezbollah claimed three separate attacks on Israeli troops who are occupying southern Lebanon, though none were wounded or killed.
Hezbollah set off the latest round of fighting last month by attacking Israel soon after the start of the U.S.-Israeli bombing campaign in Iran. Israel responded to Hezbollah’s attacks by launching airstrikes across Lebanon and widening a ground invasion of the country’s south.
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U.S. soldier charged with suspected Polymarket insider trading over Maduro raid
Smoke rises from Port of La Guaira in Venezuela on Jan. 3, 2026 after U.S. forces seized the country’s president, Nicolas Maduro and his wife.
Jesus Vargas/Getty Images
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Federal prosecutors on Thursday unsealed an indictment against a U.S. Army soldier, accusing him of using his insider knowledge of the clandestine military operation to capture Venezuelan leader Nicolás Maduro in January to reap more than $400,000 in profits on the popular prediction market site Polymarket.
The Justice Department says Gannon Ken Van Dyke, 38, who was stationed at Fort Bragg, in North Carolina, was part of the team that planned and carried out the predawn raid in Caracas earlier this year that resulted in the apprehension of Maduro.
The Department of Justice and the Commodity Futures Trading Commission filed the actions against Van Dyke, the first time U.S. officials have leveled criminal charges against someone over prediction market wagers.
According to the indictment, Van Dyke now faces counts of wire fraud, commodities fraud, misusing non-public government information and other charges.
Trading under numerous usernames including “Burdensome-Mix,” Van Dyke allegedly traded about $32,000 on the arrest of Maduro, resulting in profits exceeding $400,000.
“Prediction markets are not a haven for using misappropriated confidential or classified information for personal gain,” said U.S. Attorney Jay Clayton for the Southern District of New York. “Those entrusted to safeguard our nation’s secrets have a duty to protect them and our armed service members, and not to use that information for personal financial gain.”
Van Dyke’s defense lawyer is not yet publicly known. Polymarket did not return a request for comment.
The charges against Van Dyke come at a sensitive time for the prediction market industry, which has been growing exponentially, despite calls in Washington and among state leaders for the sites to be reined in.
Van Dyke is the first to be charged in the U.S. for suspected Polymarket insider trading, but Israeli authorities in February arrested several people and charged two on suspicion of using classified information to place bets about military operations in Iran on Polymarket.
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