Connect with us

Florida

As interest rates rise, uncertainty looms over South Florida real estate market buyers, sellers

Published

on

As interest rates rise, uncertainty looms over South Florida real estate market buyers, sellers


MIAMI — As 2023 draws to an end, it is clear that South Florida’s real estate market continues to change but what is unclear is what direction it will take as the calendar turns to 2024.

The home inventory is fluctuating as some sellers have dropped their prices even as skyrocketing insurance rates and taxes are leading some would-be buyers to wait.

And then there are the high mortgage rates affecting the South Florida housing market.

Larry Burns has lived in his home in Plantation for 30 years and says he would like to sell and move but not with the current mortgage rates.

Advertisement

“It’s about impossible for anybody,” he said. “I’m a veteran and even those rates have gone high.”

With current mortgage rates at the highest level in decades, some buyers are sitting it out.

“Rates are at nearly 8 percent, the highest in 23 years,” said veteran mortgage broker Michelle Smith, adding that there is still high demand for houses.

And bidding wars can still happen, but even with high mortgage rates hesitation can be a loss.

She recommends taking the leap with the hope of refinancing down the road.

Advertisement

“Only if they feel comfortable with the payment (and) If that payment fits their budget and they can afford to do it,” she said. “The key is finding everything out up front. Know your numbers; be wise (and) don’t have surprises close to closing.”

So would she recommend people taking the leap and buying something in the current market?

“Yes but only if they can afford it,” she said.

Burns said there’s only one way he’ll buy now

“If interest rates were lower I would probably do it,” he said. “My kids live in Charlotte, North Carolina so I don’t want to sell and go up and pay a high interest rate that may not match what I have down here.”

Advertisement

Between inflation, the cost of renting or buying and stagnant wages, the gap to home ownership is getting wider.

CBS Miami compiled numbers from the Health Resources and Services Administration to get a clearer picture of what wages are necessary to afford housing in South Florida.

Here’s what we found:

Miami-Dade County, 2021
A family of one adult would need to earn $32,982 per year to afford basic needs.

That comes out to about $16 an hour or $2,749 a month.

Advertisement

Of that $2,749 monthly income:

  • 45% would go to housing ($1,231)
  • 0% to child care ($0)
  • 7% to health care ($203) and
  • 11% would go to food ($309).

In Miami-Dade County, there are about 235,600 single adults living alone without children (25% of households). The median annual income for one-person households is $27,496 ($2,291/month).

A family of one adult and one school-age child would need to earn $52,955 per year to afford basic needs. That comes out to about $25 an hour or $4,413 a month.

Of that $4,413 monthly income:

  • 35% would go to housing ($1,551),
  • 9% to child care ($384),
  • 16% to health care ($719) and
  • 13% would go to food ($556).

In Miami-Dade County, there are about 71,600 single-parent families with one income earner (11% of families). The median annual income for families with one income earner is $43,510, ($3,626).
—————

A family of one adult and two school-age children would need to earn $60,561 per year to afford basic needs. That comes out to about $29 an hour or $5,047 a month.

Of that $5,047 monthly income:

Advertisement
  • 31% would go to housing ($1,551),
  • 15% to child care ($769),
  • 15% to health care ($760) and
  • 16% would go to food ($791).

In Miami-Dade County, there are about 71,600 single-parent families with one income earner (11% of families). The median annual income for families with one income earner is $43,510, ($3,626).
—————

A family of two adults and two school-age children would need to earn $70,790 per year to afford basic needs. That comes out to about $34 an hour (or $17 with two income earners) for a total of $5,899 a month.

Of that $5,899 monthly income:

  • 26% would go to housing ($1,551), 13% to child care ($769),
  • 14% to health care ($833) and
  • 17% would go to food ($1,031).

In Miami-Dade County, there are about 108,300 two-parent families with two income earners (17% of all families). The median annual income for families with two income earners is $84,656, ($7,055).



Source link

Advertisement

Florida

Free orange juice to keep flowing at Florida welcome centers despite budget cut

Published

on

Free orange juice to keep flowing at Florida welcome centers despite budget cut


TALLAHASSEE — Free orange juice will continue to flow at Florida interstate welcome centers while state citrus officials adjust to a pending 10% legislative budget cut for their promotional efforts.

The Florida Citrus Commission on Thursday will be asked to approve a $225,000 contract with Visit Florida about the welcome center refreshment, a reduction of $25,000 from the past.

John Fuller, director of global marketing for the Florida Department of Citrus, said the reduction reflects issues including fewer welcome centers.

“When this was originally set up, there were four official welcome centers,” Fuller said. “So, it just didn’t make sense to keep using that same number.”

Advertisement

Visit Florida, the state’s tourism marketing agency, has been operating three highway welcome centers since closing its facility on Highway 231 in Jackson County in 2019.

At the time, the Department of Citrus also ended the contract for free juice at welcome centers on Interstate 10 west of Pensacola, Interstate 75 at the Hamilton County community of Jennings and Interstate 95 north of the Nassau County community of Yulee to address a $4.1 million cut in state promotional funding.

Free cups of juice had been a staple of welcome centers since 1949, according to Visit Florida, and an outcry brought back funding for the promotional effort in 2020.

As they ended this year’s legislative session, state lawmakers in March passed a proposed budget for the 2024-2025 fiscal year that includes $9 million for citrus promotions, down from $10 million in the fiscal year that will end June 30. The budget has not been formally sent to Gov. Ron DeSantis for his signature and vetoes.

Even with the pending reduction, Fuller said a focus will continue to be promoting the health benefits of citrus through e-commerce channels.

Advertisement

“We like to focus on chef influencers, or home cooks or registered dieticians, so we can have a really credible voice out there speaking on health and nutrition benefits,” Fuller said.

The proposed state budget directs that the promotional funding can be used for no “other purpose than to produce consumer or influencer engagement and awareness of the health, safety, wellness, nutrition, and uses of Florida citrus products.”

The promotional efforts come as the industry continues struggling with issues such as deadly citrus greening disease and fallout from Hurricane Ian, which plowed through citrus-growing areas in 2022. The industry is on pace to produce just half of the output from the 2021-2022 growing season, which was before the hurricane.

The Citrus Commission, which oversees the Department of Citrus, also is slated Thursday to receive a presentation about a preliminary budget for next fiscal year.

Catch up on top stories before rush hour

Become a Times subscriber to get our afternoon newsletter, The Rundown

Advertisement

We’ll break down Tampa Bay’s biggest environment, politics, business, education and culture news every weekday.

You’re all signed up!

Want more of our free, weekly newsletters in your inbox? Let’s get started.

Explore all your options

By Jim Turner, News Service of Florida



Source link

Advertisement
Continue Reading

Florida

Florida challenges a federal health care rule on gender-affirming care

Published

on

Florida challenges a federal health care rule on gender-affirming care


Florida has filed a lawsuit challenging a new federal health-care rule, saying it clashes with the state’s efforts to restrict treatments such as hormone therapy and puberty blockers for transgender people.

The lawsuit, filed Monday in federal court in Tampa, targets a rule that affects programs such as Medicaid and the Children’s Health Insurance Program, which operates as KidCare in Florida.

The rule is designed to help carry out a law that prevents discrimination in health-care programs that receive federal money. The law prevents discrimination based on “sex,” and the rule applies that to include discrimination based on gender identity and sexual orientation.

The lawsuit contends that the U.S. Department of Health and Human Services, through the rule, “purports to override the state of Florida’s laws and regulations protecting the health and safety of its residents.”

Advertisement

“HHS further threatens the loss of federal funds for states and insurance issuers that refuse to cover these interventions (such as hormone therapy and puberty blockers),” the lawsuit said. “Plaintiffs bring this action to stop HHS’s interference with the ethical practice of medicine and state police powers.”

But federal health officials said late last month the rule will help strengthen protections against discrimination.

In a statement, Department of Health and Human Services Secretary Xavier Becerra said the rule is a “giant step forward for this country toward a more equitable and inclusive health care system, and means that Americans across the country now have a clear way to act on their rights against discrimination when they go to the doctor, talk with their health plan, or engage with health programs run by HHS.”

Gov. Ron DeSantis’ administration and the Republican-controlled Legislature during the past two years have made a series of controversial decisions to prevent treatments for transgender people diagnosed with gender dysphoria.

That has included barring Medicaid coverage for treatments such as hormone therapy and puberty blockers. Also, the state has prevented doctors from providing such treatments to minors and put restrictions on the treatments for adults.

Advertisement

The decisions — which are similar to moves by Republican leaders in other states — have spurred a series of legal battles that continue to play out. The issue also has become high profile politically, with President Joe Biden’s administration pushing back against Republicans.

“(The rule) prohibits health insurance issuers, state Medicaid agencies, and other covered entities from excluding categories of services in a discriminatory way. Coverage must be provided in a neutral and nondiscriminatory manner.”

Information posted on the Department of Health and Human Services website

Florida Attorney General Ashley Moody, who is helping lead the lawsuit filed Monday, joined Alabama, Georgia and South Carolina last week in filing a case challenging a new Biden administration rule on sex-based discrimination in education programs. That lawsuit alleges, in part, that the Biden administration has overstepped its legal authority in extending regulations to apply to discrimination based on sexual orientation and gender identity.

Plaintiffs in the lawsuit filed Monday are the state, the Florida Agency for Health Care Administration, the Florida Department of Management Services and the Catholic Medical Association. The Agency for Health Care Administration runs the Medicaid program, which is jointly funded by the state and federal governments. The Department of Management Services oversees a massive health-insurance program for state employees and retirees.

Advertisement

The new rule, which is slated to take effect July 5, is designed to carry out part of the federal Affordable Care Act prohibiting discrimination in health-care services. But the state contends federal health officials have overstepped their authority, violating a law known as the Administrative Procedure Act.

“Under the (rule), Florida may not refuse reimbursement or coverage for gender-change interventions on the ground that they are ‘experimental’ and not medically necessary health care treatments,” the lawsuit said. “The (rule) would therefore require covering puberty blockers, cross-sex hormones, surgeries and related services to treat gender dysphoria under Florida Medicaid, CHIP (the Children’s Health Insurance Program) and other state programs … contrary to Florida law.”

The lawsuit also said that most medical providers, such as hospitals and clinics, accept federal money through Medicaid and other programs. It said the rule “will therefore force health care providers in Florida to choose between accepting federal funds and complying with Florida law regarding treatments for persons suffering from gender dysphoria.”

But the Department of Health and Human Services said in information posted on its website that the “rule does not require a specific standard of care or course of treatment for any individual, minor or adult. Providers do not have an affirmative obligation to offer any health care, including gender-affirming care, that they do not think is clinically appropriate or if religious freedom and conscience protections apply.”

The department, however, appeared to draw a distinction between decisions involving individual patients and broad policies about treatment.

Advertisement

“The final rule does not require those covered, including state Medicaid agencies, to cover a particular health service for the treatment of gender dysphoria for any individual, minor or adult,” the information on the website said. “Rather, it prohibits health insurance issuers, state Medicaid agencies, and other covered entities from excluding categories of services in a discriminatory way. Coverage must be provided in a neutral and nondiscriminatory manner.”

Copyright 2024 WUSF Public Media – WUSF 89.7





Source link

Advertisement
Continue Reading

Florida

Bill to expand Florida's 'Safe Haven' law now on DeSantis' desk

Published

on

Bill to expand Florida's 'Safe Haven' law now on DeSantis' desk


Legislation to expand Florida’s “Safe Haven” policy is now awaiting Republican Gov. Ron DeSantis’ signature after passing through the state legislature.

The existing “Safe Haven” law made it legal to surrender unwanted infants, as long as they are given up unharmed to certain drop-off locations, including hospitals and fire stations.

The expanded bill would give women 30 days to drop off the newborn, up from the current seven-day time limit. The bill would also authorize 911 dispatchers to arrange an infant drop-off location in instances where the child’s parents do not have transportation available to reach an agency’s drop-off location.

DEAD BABY DISCOVERED AT UNIVERSITY OF TAMPA IN FLORIDA

Advertisement

The existing “Safe Haven” law made it legal to surrender unwanted infants, as long as they are given up unharmed to certain drop-off locations, including hospitals and fire stations. (Safe Haven Baby Boxes)

“I think, basically, people were just wanting to give moms more time. And, other states have 30 days, and it’s a positive thing, really,” A Safe Haven for Newborns CEO Nick Silverio told Fox 13. “[The mother] might be going through postpartum. She might be going through a medical condition that she had delivering the baby… this just gives her more time.”

An adoption agency in St. Petersburg, Florida, said this is the perfect time for the expanded law, after the six-week abortion ban took effect in the Sunshine State.

“I think we’re going to see with the six-week [abortion] ban, we’re going to see an increase. I come from child welfare for over 30 years, and we’re going to see an increase in those children coming in for care,” Connie Going of Going Adoption and Surrogacy told Fox 13.

DESANTIS TOUTS FLORIDA LAWSUIT SEEKING TO BLOCK BIDEN’S TITLE IX CHANGES

Advertisement
Ron DeSantis

Legislation to expand Florida’s “Safe Haven” policy is now awaiting Republican Gov. Ron DeSantis’ signature. ((Photo by SERGIO FLORES/AFP via Getty Images))

CLICK HERE TO GET THE FOX NEWS APP

“I think that we’re going to see an increase in adoptions,” she continued. “I think we’re going to see an increase in parenting, which means we as communities have to step up and provide services that support families.”

The bill comes after a baby was found dead last week in a garbage can on the campus of the University of Tampa. The mother told police she delivered the baby in her dorm bathroom, where the child briefly cried before dying, court records showed, Fox 13 reported.

The mother initially said she was unaware she was pregnant, but later told police she may have been in denial about not being pregnant and had not had a period in about a year.



Source link

Advertisement
Continue Reading

Trending