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Condo market faces risk of collapse

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www.youtube.com – CBS Miami – 2024-10-07 17:07:01

SUMMARY: Concerns are rising about a potential crash in South Florida’s condo market, particularly in Miami, which faces risks from new condo laws, higher insurance rates, and a surplus of unsold units. A attempting to sell a condo in Sunrise significant challenges, ultimately settling for $50,000 less after six months on the market due to financing difficulties and increasing assessments. Market expert Peter Zooki highlights that there is a nine-month supply of older condos and predicts a financial cliff in 2025, leading to decreased individual ownership and rising rental trends unless intervention occurs.

A new from UBS shows that Miami is the market most at risk for a bubble burstโ€‹, particularly in the condo sector.

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Latest on Category 5 Hurricane Milton with 180 mph winds, one of strongest hurricanes ever in Gulf

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www.youtube.com – ABC Action – 2024-10-07 17:18:58

SUMMARY: A severe storm is approaching the Bay Area, with hurricane conditions expected within the next 36 hours. A hurricane warning and storm surge warning have been issued, predicting a surge of up to 12 feet in some . While the storm may weaken as it moves north, it is expected to maintain dangerous winds, potentially reaching 80โ€“90 mph near the coast. Rainfall could be between 4 to 12 inches, leading to freshwater . Widespread power outages are anticipated, lasting from days to possibly weeks. The storm’s landfall location will significantly impact surge and wind effects. Stay safe and informed.

ABC Action News tracks tropical developments in the Atlantic and of Mexico.

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Senate Republicans join together to condemn Hamas | Florida

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www.thecentersquare.com – By Shirleen Guerra | – 2024-10-07 14:48:00

SUMMARY: On the anniversary of the October 7, 2023, Hamas attack, Senate , led by Sen. Rick Scott and Sen. Joni Ernst, condemned Iran-backed Hamas and reaffirmed for Israel’s survival and the safe release of American hostages. The attacks resulted in the deaths of 1,200 people, 40 Americans, with many still held captive. The resolution emphasized Israel’s right to defend itself from ongoing threats and reiterated the need to prevent Hamas from regaining power. Senators also stressed continued U.S. support for Israel amidst escalating violence from Iranian proxies like Hezbollah and Houthi groups.

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The post Senate Republicans join together to condemn Hamas | Florida appeared first on www.thecentersquare.com

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Milton becomes Category 5 hurricane, DeSantis calls on counties to clean up debris from Helene

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www.youtube.com – CBS Miami – 2024-10-07 13:17:53

SUMMARY: Hurricane Milton, now a Category 5 storm with sustained winds of 160 mph, is threatening Florida just days after Hurricane Helen caused significant damage. Governor Ron DeSantis has ordered all counties to expedite debris removal to prevent hazards and manage the intense storm’s impact. Mandatory evacuations are underway in affected , particularly in St. Petersburg, where are salvaging belongings amid ongoing recovery efforts. As Milton approaches, forecasters predict it will weaken to a Category 3 storm due to cooler sea temperatures near Tampa Bay. Major concerns include flying debris and storm surge, potentially reaching 12 feet in coastal regions.

Hurricane Milton has strengthened into a Category 5 storm as it barrels toward the U.S. threatening much of Florida’s coast with monumental surges and potential . CBS ‘ Cristian Benavides reports on Hurricane Helene debris that could become dangerous as Milton passes, and CBS News Bay Area meteorologist Jessica Burch has the latest .

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