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Florida
‘Living and working in Florida is like being in a toxic relationship,’ but the Northeast shows jarring differences, real estate founder says | Fortune
In a candid interview, top real estate agent and founder of SYKES Properties, Erin Sykes, got real about the state of the Florida real estate market. “Living and working in Florida is like being in a toxic relationship,” she said at the ResiDay conference in an interview with ResiClub editor Meghan Malas.
Now, Skykes, whose firm showcases multimillion-dollar deals in both Florida and the Northeast, said she’s watching two Americas diverge in real time. In the Northeast, she’s seeing bidding wars have returned in commuter suburbs like Monmouth County, N.J., and mid-Long Island, where buyers still fight for an acre and an elite school district. In Florida, by contrast, she described a market in withdrawal, nursing a hangover after a flurry of activity. “Just a couple years ago, we were being love-bombed and told how great we were,” she said, citing Florida’s burgeoning status as “Wall Street South,” a new finance hub. Now, things are “flat” or even heading downward.
Home prices in Florida have fallen 5.4% year-over-year, dragged down by a glut of aging condos facing six-figure special assessments and post-Surfside safety mandates. Single-family homes, meanwhile, remain relatively resilient, she noted. She characterized the Sunshine State’s housing scene as a cycle of boom, bust, and burnout. She’s always fueled by the belief that somehow, the next round will be different.
“Now we’re being told, ‘Oh, you’re too expensive,’ and kind of being discarded,” Sykes said. “You know, the conversation changes by the day, really.”
Noting that Florida has always been a boom-or-bust state, she said she sees signs of moderation rather than collapse. “Rather than being the boom up here and the bust way down here like we saw in 2008 and 2009, the waves are becoming flatter,” she said. While there may be a pullback in prices, “really, a 5% pullback is nothing when your house has appreciated 25%.”
For Florida, Sykes argued, even a flat market signals stability after years of breakneck appreciation—especially in Palm Beach, where home values have jumped as much as 200% in the past few years.
The challenge of dual market personalities
Sykes described jarring regional differences. In Florida as an agent, you’re “just trying to really push and pull and drag deals together, you’re getting discounts of 5%, 10%, 20% off list price,” but then in the Northeast you find yourself going into a bidding war. “It’s like having a multiple personality disorder.”
That volatility, she noted, reflects a broader split between regions that overheated during the pandemic and those returning to normal. The migration wave that sent high earners south may have turbocharged Florida’s boom but also exposed its fragility. Now, Sykes said, agents and homeowners alike are navigating two competing realities: the Northeast’s cautious recovery and the Southeast’s cooling after years of mania.
She also outlined a bifurcation within the Florida housing market: while single-family homes remain robust thanks to demand for space among incoming families, condos face mounting challenges. That’s difficult because they are “really what has been driving down the Florida market,” and they are facing new challenges from special assessments, strengthened structural regulations, and fallout from incidents like the Surfside collapse. Pre-selling of new-construction condos continues apace, she said, with West Palm Beach alone seeing many significant developments underway.
Sykes described a bifurcation between single-family homes and condos in Florida, since its exploding population is full of people who left Manhattan or Chicago and “wanted their own space.” She said single-family homes are doing well, and then “We’re seeing condos bifurcated, and then within that bifurcation of condos, a secondary bifurcation.”
“Florida,” she concluded, “you have to always take with a grain of salt.”
NEWS
A man is in custody after deputies said he tried to kidnap a woman at a Wawa near Winter park. Per investigators, Matthew Seaberg approached the victim from behind, picked her up by the waist, and threw her into his truck.
Florida
Jury selection continues in fatal boat crash trial of South Florida real estate mogul George Pino
MIAMI — A new group of prospective jurors was questioned Tuesday in the trial of South Florida real estate mogul George Pino, who is charged in connection with a 2022 boat crash that killed a teenager in Miami-Dade County.
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During jury selection in a Miami-Dade courtroom, Judge Marisa Tinkler Mendez asked potential jurors what they already knew about the case and whether they had recently seen or heard anything about it.
Several prospective jurors said they knew only basic details, including that a fatal boating crash occurred and that a teenage girl died. Others said they recalled media reports that alcohol may have been involved.
As questioning continued, some prospective jurors disclosed connections to schools and communities tied to the case.
Passengers aboard Pino’s boat included his wife, his teenage daughter and 11 of her friends, many of whom attended private schools in Miami-Dade County.
One prospective juror said they graduated from a local private school around the time of the crash and were familiar with some of the students involved.
Another said references to schools and witnesses brought back memories of seeing posts and articles about the incident shared on social media.
A third said their child participates in youth sports with students from schools connected to the case.
Investigators said the boat struck a channel marker while returning from an outing on Biscayne Bay. Seventeen-year-old Lourdes Academy student Lucy Fernandez drowned after the crash.
Tinkler Mendez also addressed concerns that a prospective juror had been viewing a news report about the case on a cellphone while waiting outside the courtroom.
Another prospective juror reported hearing the report but said it was not loud enough for everyone in the area to hear.
Tinkler Mendez reminded prospective jurors to avoid news coverage and social media discussions related to the case as jury selection continues.
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STARKE, Fla. — A Florida man who confessed to killing his girlfriend’s infant daughter and throwing her body in a pond three decades ago is set to be executed Tuesday evening.
Andrew Richard Lukehart, 53, is scheduled to receive a three-drug injection starting at 6 p.m. at Florida State Prison near Starke. He was sentenced to death after being convicted of first-degree murder and aggravated child abuse in 1997 for the death a year earlier of 5-month-old Gabrielle Hanshaw.
This would be Florida’s eighth execution so far this year, following a record 19 executions in 2025. Republican Gov. Ron DeSantis oversaw more executions in a single year in 2025 than any other Florida governor since the death penalty was reinstated in 1976. The previous record was set in 2014 with eight executions.
According to court records, Lukehart was watching his girlfriend’s baby in February 1996 while his girlfriend was caring for her older daughter, who had been ill. At some point, the girlfriend said Lukehart drove away from their Jacksonville home, and she couldn’t find baby Gabrielle. Lukehart called his girlfriend about 30 minutes later and told her to call police because the baby had been kidnapped and he was chasing the kidnapper.
Later that evening, Lukehart was found in a neighboring county after driving his car off the road. During questioning the next day, Lukehart told investigators that Gabrielle died after he dropped the baby on her head and then shook her. He told police that he panicked and threw the baby in a pond. Law enforcement officers searched the pond and found the child’s body.
The Florida Supreme Court denied Lukehart’s appeals last week. His attorneys had claimed that medication he was taking for kidney disease could have a negative reaction with the lethal injection drugs. They also argued that having only a month between the signing of Lukehart’s death warrant and the execution deprived him of his due process.
The U.S. Supreme Court denied Lukehart’s final appeal on Monday.
A total of 47 people were executed in the U.S. in 2025. Florida led the way with a flurry of death warrants signed by DeSantis. Alabama, South Carolina and Texas tied for second with five executions each.
Another execution is planned in Florida later this month. Dusty Ray Spencer, 74, was convicted of fatally stabbing his wife in 1992.
All Florida executions are carried out via lethal injection of a sedative, a paralytic and a drug that stops the heart, according to the Department of Corrections.
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