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Miami Herald
07-07-2025
- Business
- Miami Herald
What makes it so hard to live in South Florida? See some of the housing issues
Real Estate News What makes it so hard to live in South Florida? See some of the housing issues The following articles explore the challenges of living in South Florida. They highlight the region's unaffordable housing market, rising costs and gentrification pressures. In Miami, residents face rising rents and financial strain. Many spend over half their income on housing. Condo buyouts become more common in South Florida. Structural issues and rising costs push some condo owners to sell. Developers target these properties, viewing them as prime redevelopment opportunities. Black South Floridians struggle with homeownership in gentrifying Miami communities. They face barriers like predatory lending and low credit scores. Read the stories below. North Bay Village, junto a la bahía y muy cerca de la playa de Miami Beach, recibe proyectos residenciales de lujo, que aumentan precios inmobilarios. Un programa de vivienda de la ciudad ayuda a los residentes y trabajadores esenciales a comprar condos, alquilar o pagar servicios públicos atrasados. By MATIAS J. OCNER NO. 1: IS YOUR CONDO RIPE FOR A BUYOUT? SEVEN SIGNS THAT DEVELOPERS MIGHT TARGET YOUR BUILDING The Miami Herald spoke with three real estate experts who weighed in on the telltale signs a condominium is ripe for redevelopment. | Published October 4, 2024 | Read Full Story by rsanjuan@ San Juan Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver Sabrina Guillaume stands outside the duplex she owns in Liberty City. Guillaume spent several years trying to buy a property in the neighborhood where her parents live and she grew up. By Carl Juste NO. 3: BLACK SOUTH FLORIDIANS STRUGGLE TO BUY AND KEEP HOMES IN MIAMI'S GENTRIFYING COMMUNITIES 'We're losing ground every day.' | Published April 18, 2025 | Read Full Story by Raisa Habersham Michael Butler The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Miami Herald
20-06-2025
- Business
- Miami Herald
It can be expensive to live in South Florida. Here are some of the issues
South Florida It can be expensive to live in South Florida. Here are some of the issues This collection of stories focuses on Miami's struggles with high housing costs. The first article highlights the financial strain on Miami residents, with rising rents reaching unprecedented levels, surpassing even cities like New York and Los Angeles. It tells the story of a single mother whose rent dramatically increased, leaving little room in her budget. A second story discusses the burden of homeowner association fees, noting that a significant number of properties in Miami are subject to these additional costs. In addition, the interfaith group demanding action on high rent prices from Miami-Dade leaders underscores the county's significant affordability challenges, pushing for eviction diversion programs. Read the stories below. Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 1: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse. NO. 2: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN Attendees listen to Mayor Daniella Levine Cava make a pledge to the community during the PACT Nehemiah Action Assembly on Monday, April 7, 2025, at Sweet Home Missionary Baptist Church in Cutler Bay, Fla. By Alie Skowronski NO. 3: 'RENT IS TOO DAMN HIGH.' INTERFAITH GROUP DEMANDS ACTION FROM MIAMI-DADE LEADERS One of Miami-Dade's most politically engaged interfaith groups held their annual assembly to press elected leaders to make housing more affordable and reducing evictions in Miami-Dade County. | Published April 9, 2025 | Read Full Story by Lauren Costantino The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Miami Herald
19-06-2025
- Business
- Miami Herald
Why affordable housing is such an issue in South Florida
South Florida Why affordable housing is such an issue in South Florida This collection of stories examines the complexities of affordable housing issues in South Florida, focusing on rising costs, policies and trends. In Miami, the situation has worsened with rising rents. Miami's condo market also grapples with a rise in buyouts for redevelopment. And many South Florida condos find themselves on a 'secret blacklist' affecting mortgage loans due to safety and financial issues. Read the stories below. North Bay Village, junto a la bahía y muy cerca de la playa de Miami Beach, recibe proyectos residenciales de lujo, que aumentan precios inmobilarios. Un programa de vivienda de la ciudad ayuda a los residentes y trabajadores esenciales a comprar condos, alquilar o pagar servicios públicos atrasados. By MATIAS J. OCNER NO. 1: IS YOUR CONDO RIPE FOR A BUYOUT? SEVEN SIGNS THAT DEVELOPERS MIGHT TARGET YOUR BUILDING The Miami Herald spoke with three real estate experts who weighed in on the telltale signs a condominium is ripe for redevelopment. | Published October 4, 2024 | Read Full Story by rsanjuan@ San Juan Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver Condos line the Intracoastal Waterway in Sunny Isles Beach. By MATIAS J. OCNER NO. 3: HOW TO FIND IF YOUR FLORIDA CONDO IS ON SECRET BLACKLIST BLOCKING MORTGAGE LOANS Fannie Mae, a federally chartered company that helps determine who qualifies for home mortgages, maintains a confidential database of condo buildings that it won't back for loans, typically because of maintenance, insurance or financial number of South Florida condos on the list has more than doubled since 2023, according to figures complied by a law firm that obtained the database from a source. | Published April 4, 2025 | Read Full Story by Andres Viglucci The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Miami Herald
16-06-2025
- Business
- Miami Herald
How are we dealing with housing issues in Miami? Take a look
Real Estate News How are we dealing with housing issues in Miami? Take a look This collection of stories highlights various ways communities and people in South Florida are addressing housing challenges. In one story, Miamians confront rent burdens, with many residents spending a significant portion of their income on housing, exacerbated by high inflation rates. Another story features a Miami developer's innovative approach, transforming luxury living by launching Crescent Seas, a condo cruise line offering high seas residences. Elsewhere, a Bay Harbor condo board demonstrates foresight, successfully navigating Florida's new regulatory environment while keeping costs manageable. Meanwhile, polling reveals that a growing number of Americans, particularly non-homeowners, feel homeownership remains out of reach economically. Read the stories below. Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 1: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver Manager Heri Kletzenbuer, left, and board president Andre Williams stand outside the Golden Key Condominiums in Bay Harbor Islands. The managers of the modest 1960s condo have maintained affordability for owners while extensively refurbishing the building and successfully navigating recertification and stringent new post-Surfside state regulations. By Pedro Portal NO. 2: HOW A SMALL BAY HARBOR CONDO MET FLORIDA'S TOUGH RULES. AND KEPT COSTS DOWN DOING IT 'We wanted to get ahead of the curve , but we didn't want to financially cripple anyone.' | Published April 30, 2025 | Read Full Story by Andres Viglucci Rendering of Navigator when it's ready at end of 2026 NO. 3: CONDOS ON A CRUISE SHIP? WHY A MIAMI DEVELOPER IS PLANNING LUXURY HOMES AT SEA Take a look at what's being planned. | Published April 23, 2025 | Read Full Story by Vinod Sreeharsha Jane Woolridge More than two-thirds of non-homeowners, 68%, are priced out of the housing market, according to a new Gallup poll. And a record-high 45% say they likely won't buy a home in the foreseeable future. NO. 4: WILL YOU BUY A HOME? RECORD SHARE OF NON-OWNERS SAY NOT FOR A WHILE, POLL FINDS And a record-low share said they plan on buying in the next five to 10 years. | Published May 9, 2025 | Read Full Story by Brendan Rascius The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Miami Herald
13-06-2025
- Business
- Miami Herald
How rising costs are reshaping South Florida's real estate market
Real Estate News How rising costs are reshaping South Florida's real estate market This collection of stories explores how rising costs impact South Florida's real estate market, highlighting shifts in affordability and pricing that drive decisions for condos, homes and rentals in 2025. In Hollywood, new luxury apartment buildings continue to emerge, posing affordability challenges despite the development boom in the downtown area. Meanwhile, in Miami, residents grapple with soaring rent costs, making it one of the most rent-burdened metro areas in America. Development plans on Florida's Gulf Coast involve transforming a former mall site into affordable apartments as a response to housing demands. Read the stories below. Soleste Hollywood Blvd at 2001 Hollywood Blvd is pictured hovering among existing buildings on Sunday, Sept. 15, 2024, in Hollywood, Florida, as the city shores up its housing needs with development in its downtown area in an attempt to address the city's affordable housing needs. By Carl Juste NO. 1: EVEN AS HOLLYWOOD BUILDS MORE APARTMENTS DOWNTOWN, AFFORDABILITY REMAINS A CONCERN A look at what is coming and why it might not be enough to ease housing pressure | Published October 5, 2024 | Read Full Story by rhabersham@ Habersham Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver File photo of houses in Miramar, where all homeowners take their homestead exemption tax break. NO. 3: DO YOU OWN A ZOMBIE HOUSE? A VACANT HOME COULD COST YOU, AND YOU MIGHT NOT EVEN KNOW What to know about the real estate situation. | Published November 12, 2024 | Read Full Story by Lew Sichelman An affordable housing apartment complex is planned for the DeSoto Square Mall property where currently storm debris is being processed. By Tiffany Tompkins NO. 4: WANT TO LIVE WHERE A MALL USED TO BE? AFFORDABLE APARTMENTS COMING TO THIS FLORIDA AREA Check out what's planned. | Published January 22, 2025 | Read Full Story by Jason Dill The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
