The skyrocketing cost of insurance premiums in Florida is leading residents to drop their insurance, consider selling their home, and even move out of the state, according to recent reports.
For years now, the sunny, vibrant state has been a magnetic destination for many Americans—a phenomenon which has been driving up demand for housing, especially during the pandemic, as well as home prices.
But while Florida was the number one state in the country that people moved to in 2022, it was also the one with the highest number of residents wanting to relocate, according to a SelfStorage.
To landlords, who will charge arbitrarily high rent, secure in the knowledge that they aren’t in a free market due to inelasticity of demand (people can’t do without shelter) and supply (there are finite places to live). That will let them pay the insurance premiums homeowners can’t afford.
I keep trying to convince s few buddies we should pool our money together and get into RVs. Have a lot with RVs for rent. Move them from lot to lot based on needs. Park them outside business that don’t pay well but have a lot of workers.
I’ve heard worse business proposals, for sure. But be careful about identifying as a landlord (even a prospective one) in a place like this!
Not actually going to own land and I am certainly not a lord. I am thinking more like I own RVs, rent them, and work with my renters to find provide parking and utilities.
Landlords aren’t defined by literally owning land or literally being lords. If you own living space you rent out, you’re a landlord, even if your apartments are mobile (including both RVs and houseboats).
But listen, I support you and your choices. This is not me being critical. We’re just having this conversation in a space where it’s much more in vogue to hate anyone who owns living space they rent out.