Connect with us

Florida

Post-Boomers: Will Florida real estate appeal to the next generations? | Home Front

Published

on

Post-Boomers: Will Florida real estate appeal to the next generations? | Home Front


Florida has always proven a desired destination for those entering the next chapter of life, most recently fueled by the number of Baby Boomers reaching retirement age running between 3.5 and 4 million annually. Born from 1946 to 1964, Baby Boomers represent one of the largest generational cohorts with approximately 76 million people representing the wealthiest and, therefore, the most enabled in history.

Florida’s appeal has been undeniable, as evidenced by its consistent ranking in the top-three destination states of all online home searches in the U.S., regardless of age. This isn’t surprising given our state’s weather, lack of state income tax, and attractive lifestyle options. Indeed, Boomers make up 41% of Florida’s homeowners and, as Millennials age and the first Gen Xers approach retirement, the demand for housing in Florida will accelerate.

The demographic shift presents challenges and opportunities to accommodate Boomers’ housing needs and preferences. A 2021 AARP survey found that 77% of Americans over 50 plan to stay in their homes as long as possible, signaling a growing market for home modifications, expansions, and community-based support systems to aid aging in place. This choice to stay put lies heavily in favorable tax laws, current low-rate mortgages, and the desire to remain in familiar communities.

Advertisement

With what is described as “The Great Wealth Transfer,” Baby Boomers are passing an estimated $70 trillion to the next generation. This transfer includes wealth in cash and existing homes bequeathed to relatives.

Logic suggests an enormous lift in real estate demand and opportunities for the state. Yet that assumption implies a consistent perspective on real estate from generation to generation for which evidence may suggest otherwise. Shaped by impressionable events such as the Great Recession and volatility in housing values, Millennials approach real estate with more caution and lower overall expectations, choosing to allocate less in primary residences while diversifying more into other forms of investments.

Also among the distinctions may be desired home size. Boomers own twice as many large homes with three or more bedrooms as Millennials. This trend indicates a potential sharp rise in available larger home inventory as Boomers choose to relocate or pass and a question as to whether the next generation will have a similar appetite to absorb. If not, values may not trend with the overall rate of appreciation seen with smaller homes.

Further, as the top second home market in the country, the shift from one generation to another may also be felt in this housing category. While Baby Boomers viewed second homes as investments for retirement, a place for multigenerational family gatherings, and avenues to legacy building, there is evidence Millennials place greater value on flexibility and the thought of experiences in different locations made possible through renting rather than owning a resort property.

Advertisement

By 2030, all Boomers will be at least 65, presenting Florida’s real estate market with challenges and opportunities. This evolution will influence home sales, new construction development, and community planning across the state. Sheer demographic and wealth statistics strongly suggest Florida will continue to be a winner among states as it relates to real estate.

In the end, it may depend on whether children, despite their initial protests, become more and more like their parents when they age as so often we have discovered.

Budge Huskey is chief executive officer of Premier Sotheby’s International Realty.



Source link

Advertisement

Florida

Gas prices rise in South Florida amid U.S. and Israel’s conflict with Iran, as the stock market also reports a dip

Published

on

Gas prices rise in South Florida amid U.S. and Israel’s conflict with Iran, as the stock market also reports a dip



Four days into the Iranian conflict, gas prices are rising at many stations in South Florida.

Advertisement

“I’ve traveled all over the United States,” says Stacey Williams. CBS Miami spoke to him as he was gassing up on the turnpike. He paid $66 for 20 gallons of diesel to fill his pickup truck. Williams has noted the fluctuations in fuel as he drives to locations for his work on turbines. He just spent three weeks at the Turkey Point Nuclear Power Plant south of Miami.

“The salary we get paid per hour does not add up to what we pay for gas, housing, and food,” he says.

Mitchell Gershon is also dealing with the higher gas prices. He has to fill three vehicles constantly for his business—Thrifty Gypsy, a pop-up store at musical venues. He’s back and forth from Orlando to Miami and says fuel is costing him 20% more. When asked how he handles these fluctuations, he said, “Have a little backup cash so you are ready for it.”

The rise in oil prices contributed to a drop in the stock market on Tuesday, which means some retirement accounts dipped, too. CBS Miami talked to Chad NeSmith, director of investments at Tobias Financial Advisors in Plantation, for perspective on the drop.

“We are seeing most of the pullback today. Yesterday was a shock,” he says. He’s not expecting runaway oil prices but says investors should stay in the loop: “Pay attention to your portfolio. Stick to your goals. Have a plan because these things are completely unpredictable.”

Advertisement

That unpredictability has Williams adjusting his budget. “You just cut back, cut corners, all you can do,” he says.



Source link

Advertisement
Continue Reading

Florida

Man convicted of 1991 fatal shooting of a police officer is set to be executed in Florida

Published

on

Man convicted of 1991 fatal shooting of a police officer is set to be executed in Florida


STARKE, Fla. (AP) — A man convicted of fatally shooting a police officer with his own service weapon during a traffic stop is set to be executed Tuesday evening in Florida.

Billy Leon Kearse, 53, is scheduled to receive a three-drug injection starting at 6 p.m. at Florida State Prison near Starke. Kearse was initially sentenced to death in 1991 after being convicted of first-degree murder and robbery with a firearm.

The Florida Supreme Court found that the trial court failed to give jurors certain information about aggravating circumstances and ordered a new sentencing. Kearse was resentenced to death in 1997.

Kearse awoke at 6:30 a.m. He declined a last meal and has remained compliant throughout the day, corrections spokesman Jordan Kirkland said during a news conference. Kearse met with a spiritual adviser during the day but had no other visitors.

Advertisement

This is Florida’s third execution scheduled for 2026, following a record 19 executions last year. 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 highest number before then was eight executions in both 1984 and 2014, under former governors Bob Graham and Rick Scott, respectively.

According to court records, Fort Pierce Police Officer Danny Parrish pulled over Kearse for driving the wrong way on a one-way street in January 1991. When Kearse couldn’t produce a valid driver’s license, Parrish ordered Kearse out of his vehicle and attempted to handcuff him.

A struggle ensued, and Kearse grabbed Parrish’s firearm, prosecutors said. Kearse fired 14 times, striking the officer nine times in the body and four times in his body armor. A nearby taxi driver heard the shots and used Parrish’s radio to call for help.

Parrish was rushed to a nearby hospital, where he died from the gunshot wounds, officials said. Meanwhile, police used license plate information that Parrish had called in before approaching Kearse to identify the attacker’s vehicle and home address, where Kearse was arrested.

Last week, the Florida Supreme Court denied appeals filed by Kearse. His attorneys had argued that he was unconstitutionally deprived of a fair penalty phase and that his intellectual disability makes his execution unconstitutional.

Advertisement

The U.S. Supreme Court rejected Kearse’s final appeals Tuesday afternoon without comment.

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, far outpacing Alabama, South Carolina and Texas which each held five executions.

Besides the two Florida executions this year, Texas and Oklahoma have each executed one person so far.

Two more Florida executions have already been scheduled for this month. Michael Lee King, 54, is scheduled to die on March 17, and the execution of James Aren Duckett, 68, is set for March 31.

All Florida executions are carried out via lethal injection using a sedative, a paralytic and a drug that stops the heart, according to the Department of Corrections.

Advertisement



Source link

Continue Reading

Florida

Man convicted of 1991 fatal shooting of police officer is set to be executed in Florida

Published

on

Man convicted of 1991 fatal shooting of a police officer is set to be executed in Florida


STARKE, Fla. (AP) — A man convicted of fatally shooting a police officer with his own service weapon during a traffic stop is set to be executed Tuesday evening in Florida.

Billy Leon Kearse, 53, is scheduled to receive a three-drug injection starting at 6 p.m. at Florida State Prison near Starke. Kearse was initially sentenced to death in 1991 after being convicted of first-degree murder and robbery with a firearm.

The Florida Supreme Court found that the trial court failed to give jurors certain information about aggravating circumstances and ordered a new sentencing. Kearse was resentenced to death in 1997.

This is Florida’s third execution scheduled for 2026, following a record 19 executions last year. 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 highest number before then was eight executions in both 1984 and 2014, under former governors Bob Graham and Rick Scott, respectively.

Advertisement

According to court records, Fort Pierce Police Officer Danny Parrish pulled over Kearse for driving the wrong way on a one-way street in January 1991. When Kearse couldn’t produce a valid driver’s license, Parrish ordered Kearse out of his vehicle and attempted to handcuff him.

A struggle ensued, and Kearse grabbed Parrish’s firearm, prosecutors said. Kearse fired 14 times, striking the officer nine times in the body and four times in his body armor. A nearby taxi driver heard the shots and used Parrish’s radio to call for help.

Parrish was rushed to a nearby hospital, where he died from the gunshot wounds, officials said. Meanwhile, police used license plate information that Parrish had called in before approaching Kearse to identify the attacker’s vehicle and home address, where Kearse was arrested.

Last week, the Florida Supreme Court denied appeals filed by Kearse. His attorneys had argued that he was unconstitutionally deprived of a fair penalty phase and that his intellectual disability makes his execution unconstitutional.

Final appeals were pending Tuesday before the U.S. Supreme Court.

Advertisement

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, far outpacing Alabama, South Carolina and Texas which each held five executions.

Besides the two Florida executions this year, Texas and Oklahoma have each executed one person so far.

Two more Florida executions have already been scheduled for this month. Michael Lee King, 54, is scheduled to die on March 17, and the execution of James Aren Duckett, 68, is set for March 31.

All Florida executions are carried out via lethal injection using a sedative, a paralytic and a drug that stops the heart, according to the Department of Corrections.

Advertisement



Source link

Continue Reading

Trending