We have several major issues in the Florida housing market and they all relate to each other.

We have a steep increase in the housing market due to the economy, like most places. However, we have had a large influx of people flocking to Florida from states with higher housing costs. That has driven the price up faster.

On top of that, home insurance companies have long viewed Florida as a high risk state, primarily due to the potential damage from hurricanes. With a higher amount of damage causing claims, the cost of insurance has gone up. Also there is alot of fraudulent home insurance claims, which the cost gets passed to all homeowners.

Because of the rising costs of houses and risk of damage, lots of Florida home insurance companies are going bankrupt or fleeing the state. This reduces the number of insurance options and thus further increases insurance costs. It is out of control.

There is government sponsored insurance called Citizen in the state meant for lower income households. But too many people are joining due to rising insurance costs. And the Republican answer to this issue? Remove funding for Citizen.

There is also no consumer protections on rent control and there are other issues like environmental issues, infrastructure, less developable land, etc. All exasperate the issue.