Florida

Florida insurance crisis spells mortgage disaster

Published

2 years ago

January 22, 2024

Florida insurance crisis spells mortgage disaster

The ongoing insurance crisis in Florida, fueled by the exodus of major insurers and the increased risk of extreme weather events, could trigger a downturn in the state’s real estate market, experts told Newsweek.

Homeowners in the Sunshine State currently pay the highest insurance premiums in the country. Floridians pay private insurers an average premium of about $6,000 a year, according to the latest data from the Insurance Information Institute, or Triple I, according to Barron’s and CNN Business, compared to the national average of $1,700.

Few people can self-ensure against the loss of their homes, and banks require an insurance policy to protect their collateral and provide a mortgage for a house.

The increasingly unaffordable cost of home insurance risks leaving residents uncovered, and thus unable to get a mortgage should they want to buy a new home, which could escalate to a statewide decline in the real estate sector.

“If you don’t have an insurance policy, it’s basically impossible to take out a mortgage,” Benjamin Keys, an economist and a professor of real estate and finance at the University of Pennsylvania’s Wharton School, told Newsweek.

“And given the important role that financing plays in the housing market, without a functioning insurance market you don’t have a functioning mortgage market, you don’t have a functioning housing market.”

Photo-illustration by Newsweek/Getty

Why Do Many Floridians Risk ‘Going Bare’?

Because of the higher risk posed by climate change, which scientists expect will increase the frequency and severity of extreme weather events in vulnerable states like Florida, “there are more people living in harm’s way, the severity of the disaster is more extreme and the cost of repairs has gone up,” Keys said. “A number of years with large storms and large claims has put some private insurers out of business and led others to simply leave the state.

“Insurers have also been really concerned that a portion of their elevated claims is due to fraud. And they were successful in pressuring the state Legislature to pass sweeping reform that makes it much more insurer-friendly on the fraud front. But in spite of these changes going through, insurers have not returned to Florida on any large scale.”

Between 2022 and 2023, more than a dozen private insurers left Florida, including Farmers Insurance, leaving many residents with a lack of options to insure their homes and considering “going bare,” going without any coverage on their properties.

According to Keys, “the private market for homeowner insurance has failed” in Florida.

“There’s a large gap in the market of homeowners who would like to have affordable policies from private insurers but are unable to find them and have to turn to a state-run entity called Citizen Property Insurance,” he said.

There are currently an estimated 1.3 million homeowners in the Sunshine State insured by Citizen Property, according to Keys.

What Could Be the Impact on Florida’s Housing Market?

Chicago-based real estate investor Sean O’Dowd thinks that the impact of the ongoing insurance crisis in Florida on the state’s real estate market depends on whether you believe the insurance premiums increases of the past couple of years are a blip or a trend.

“In my opinion, I strongly believe it’s a trend,” O’Dowd, who runs a real estate fund buying single-family homes in highly elite school districts and then renting the homes on 3-plus-year leases, told Newsweek.

“I’m an institutional SFR [single-family rental], I’ve spent a lot of time with the biggest institutional SFR players and they have given us explicit warning to stay away from Florida, and that if we buy portfolios in Florida, they won’t buy from us because they’re so negative on Florida in the long run, which is scary.”

The increase in real estate prices in South Florida is one of the largest in the U.S. The ongoing Florida insurance crisis could spill over to the state’s housing market if residents are left without affordable home insurance.
CHANDAN KHANNA/AFP via Getty Images

That’s why O’Dowd believes that the current insurance crisis is going to have a “significant negative impact” on the Florida real estate market.

“There’s not a single lender out there that I’m aware of that will give you a mortgage without proof of insurance,” he said.

“The problem is, if you have an insurance payment that’s just as much as the principal and interest payment for the mortgage, if you’ve got an insurance payment that’s five hundred bucks a month, you get to a situation where a homebuyer—especially a first-time homebuyer that doesn’t have a lot of capital to put down for the down payment—has such a weedy monthly payment with this huge insurance premium that they cannot afford to buy a house.”

This is a situation that’s going to “flush a ton of buyers, especially first-time homebuyers and retirees on fixed income, completely out of the market,” O’Dowd said. The impact on the real market then is that homeowners would need to cut prices in order to sell, pulling down the market.

Homebuyers will be hurt by the crisis as much as homeowners, according to O’Dowd.

“Everything that I’ve been told and I’ve been seeing is insurance rates continue to rise, that makes the monthly payment substantially higher, that makes affordability a lot worse, that pushes down prices—with the one caveat of what happens with retirees who frequently buy in cash,” he said.

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Florida

Florida Lottery Powerball, Lotto, Fantasy 5 results for April 11, 2026

Published

11 hours ago

April 12, 2026

Press Room

Florida Lottery Powerball, Lotto, Fantasy 5 results for April 11, 2026

The Florida Lottery offers several draw games for those hoping to win one of the available jackpots.

Here’s a look at the winning numbers for games played on Saturday, April 11, 2026.

Winning Powerball numbers from April 11 drawing

06-47-49-53-60, Powerball: 06, Power Play: 2

Check Powerball payouts and previous drawings here.

Winning Powerball Double Play numbers from April 11 drawing

01-04-22-36-48, Powerball: 17

Winning Florida Lotto numbers from April 11 drawing

03-06-09-20-29-35

Check Florida Lotto payouts and previous drawings here.

Winning Lotto Double Play numbers from April 11 drawing

07-29-36-39-42-50

Check Lotto Double Play payouts and previous drawings here.

Winning Fantasy 5 numbers from April 11 drawing

Midday: 22-25-27-31-34

Evening: 10-12-16-17-26

Check Fantasy 5 payouts and previous drawings here.

Winning Cash Pop numbers from April 11 drawing

Morning: 02

Matinee: 04

Afternoon: 01

Evening: 08

Late Night: 14

Check Cash Pop payouts and previous drawings here.

Powerball, Mega Millions jackpots: What to know in case you win

Here’s what to know in case you win the Powerball or Mega Millions jackpot.

Just the FAQs, USA TODAY

Winning Pick 2 numbers from April 11 drawing

Midday: 1-4, FB: 9

Evening: 6-2, FB: 1

Check Pick 2 payouts and previous drawings here.

Winning Pick 3 numbers from April 11 drawing

Midday: 9-3-6, FB: 9

Evening: 0-5-3, FB: 1

Check Pick 3 payouts and previous drawings here.

Winning Pick 4 numbers from April 11 drawing

Midday: 2-6-8-9, FB: 9

Evening: 3-0-2-7, FB: 1

Check Pick 4 payouts and previous drawings here.

Winning Pick 5 numbers from April 11 drawing

Midday: 2-5-4-2-9, FB: 9

Evening: 2-3-5-3-4, FB: 1

Check Pick 5 payouts and previous drawings here.

Where can you buy Florida Lottery tickets?

Tickets can be purchased in person at any authorized retailer throughout Florida, including gas stations, convenience stores and grocery stores. To find a retailer near you, go to Find Florida Lottery Retailers.

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your prize

Prizes of $599 or less: Claim at any authorized Florida Lottery retailer or Florida Lottery district office.
Prizes for $600 to $1 million: Must be claimed in person at any Florida Lottery district office for games that do not offer an annual payment option.
Prizes greater than $1 million and all prizes with an annual payment option: Must be claimed at Florida Lottery headquarters, except Mega Millions and Powerball prizes, which can be claimed at any Florida Lottery district office.

You also can claim your winnings by mail if the prize is $250,000 or less. Mail your ticket to the Florida Lottery with the required documentation.

Florida law requires public disclosure of winners

If you’re a winner, Florida law mandates the following information is public record:

Full name
City of residence
Game won
Date won
Amount won
Name and location of the retailer where the winning ticket was purchased.

When are the Florida Lottery drawings held?

Powerball: 10:59 p.m. Monday, Wednesday and Saturday.
Mega Millions: 11 p.m. Tuesday and Friday.
Florida Lotto: 11:15 p.m. Wednesday and Saturday.
Jackpot Triple Play: 11:15 p.m. Tuesday and Friday.
Fantasy 5: Daily at 1:05 p.m. and 11:15 p.m.
Cash Pop: Daily at 8:45 a.m., 11:45 a.m., 2:45 p.m., 6:45 p.m. and 11:45 p.m.
Pick 2, 3, 4, 5: Daily at 1:30 p.m. and 9:45 p.m.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Florida digital producer. You can send feedback using this form.

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Florida

Florida Lottery Mega Millions, Jackpot Triple Play results for April 10, 2026

Published

1 day ago

April 11, 2026

Press Room

The Florida Lottery offers several draw games for those hoping to win one of the available jackpots.

Here’s a look at the winning numbers for games played on Friday, April 10, 2026.

Winning Mega Millions numbers from April 10 drawing

03-18-36-42-49, Mega Ball: 06

Check Mega Millions payouts and previous drawings here.

Winning Jackpot Triple Play numbers from April 10 drawing

13-18-21-28-35-38

Check Jackpot Triple Play payouts and previous drawings here.

Winning Fantasy 5 numbers from April 10 drawing

Midday: 11-16-27-31-35

Evening: 12-13-14-19-24

Check Fantasy 5 payouts and previous drawings here.

Winning Cash Pop numbers from April 10 drawing

Morning: 12

Matinee: 04

Afternoon: 02

Evening: 03

Late Night: 05

Check Cash Pop payouts and previous drawings here.

Powerball, Mega Millions jackpots: What to know in case you win

Here’s what to know in case you win the Powerball or Mega Millions jackpot.

Just the FAQs, USA TODAY

Winning Pick 2 numbers from April 10 drawing

Midday: 7-8, FB: 0

Evening: 1-6, FB: 7

Check Pick 2 payouts and previous drawings here.

Winning Pick 3 numbers from April 10 drawing

Midday: 8-0-6, FB: 0

Evening: 5-1-8, FB: 7

Check Pick 3 payouts and previous drawings here.

Winning Pick 4 numbers from April 10 drawing

Midday: 6-7-1-2, FB: 0

Evening: 4-3-9-0, FB: 7

Check Pick 4 payouts and previous drawings here.

Winning Pick 5 numbers from April 10 drawing

Midday: 7-5-1-2-1, FB: 0

Evening: 1-7-9-4-3, FB: 7

Check Pick 5 payouts and previous drawings here.

Where can you buy Florida Lottery tickets?

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your prize

Prizes of $599 or less: Claim at any authorized Florida Lottery retailer or Florida Lottery district office.
Prizes for $600 to $1 million: Must be claimed in person at any Florida Lottery district office for games that do not offer an annual payment option.
Prizes greater than $1 million and all prizes with an annual payment option: Must be claimed at Florida Lottery headquarters, except Mega Millions and Powerball prizes, which can be claimed at any Florida Lottery district office.

You also can claim your winnings by mail if the prize is $250,000 or less. Mail your ticket to the Florida Lottery with the required documentation.

Florida law requires public disclosure of winners

If you’re a winner, Florida law mandates the following information is public record:

Full name
City of residence
Game won
Date won
Amount won
Name and location of the retailer where the winning ticket was purchased.

When are the Florida Lottery drawings held?

Powerball: 10:59 p.m. Monday, Wednesday and Saturday.
Mega Millions: 11 p.m. Tuesday and Friday.
Florida Lotto: 11:15 p.m. Wednesday and Saturday.
Jackpot Triple Play: 11:15 p.m. Tuesday and Friday.
Fantasy 5: Daily at 1:05 p.m. and 11:15 p.m.
Cash Pop: Daily at 8:45 a.m., 11:45 a.m., 2:45 p.m., 6:45 p.m. and 11:45 p.m.
Pick 2, 3, 4, 5: Daily at 1:30 p.m. and 9:45 p.m.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Florida digital producer. You can send feedback using this form.

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Florida

New details in nearly $200,000 Florida embezzlement case

Published

2 days ago

April 10, 2026

Press Room

New details in nearly 0,000 Florida embezzlement case

Twenty checks were recorded paid to “Farmer and Irwin,” but Martin County Sheriff’s investigators reported the $85,410 in payments actually went to Alexandra Gonzalez and were used for personal expenses, including travel and retail purchases.

The details are in court records supporting the April 9 arrest of Gonzalez, 46, who is accused of embezzling nearly $200,000 in total from The Dune of Hutchinson Island Condominium Association and the Whitemarsh Reserve Homeowners Association.

Gonzalez, identified as a community association manager who worked for a property management company, was held April 10 in the Martin County jail on 124 charges with more than $1.2 million bond, records show.

Sheriff’s officials in February began investigating after association representatives reported the suspected fraudulent or theft activity, which at Dune of Hutchinson Island occurred beginning in October 2025 and at Whitmarsh Reserve started in February 2025, according to statements in records.

In the Dune of Hutchinson Island case, the owner of the property management company that employed Gonzalez told sheriff’s officials that Gonzalez “exploited the system by creating and altering vendor profiles, specifically a vendor identified as ‘Farmer and Irwin,’ to conceal fraudulent transactions,” according to records.

Checks — 20 in total representing $85,410 — recorded as payments to Farmer and Irwin corresponded to checks issued to Gonzalez, according to statements in records. The checks had a forged signature of a Dune of Hutchinson Island association vice president.

Meanwhile, in the Whitemarsh Reserve case, investigators found 39 checks totaling $111,980 fraudulently issued to Gonzalez. Investigators found Gonzalez “issued fraudulent checks payable to herself, and made corresponding false entries in the association’s accounting system to conceal those transactions…,” records show.

Investigators reported records showed the money was used for personal expenses, including travel, cosmetic and medical procedures and retail purchases.

In speaking with investigators, Gonzalez expressed regret and said she’d be willing to repay the amounts “to avoid legal consequences.”

Gonzalez ultimately reported going through financial challenges during the time when the checks were issued.

“When asked if her financial situation was the reason she issued checks to herself, Gonzalez admitted that it was,” records show.

Will Greenlee is a breaking news reporter for TCPalm. Follow Will on X @OffTheBeatTweet or reach him by phone at 772-267-7926. E-mail him at will.greenlee@tcpalm.com.

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