News from the South - Florida News Feed
Condo market faces risk of collapse
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 family attempting to sell a condo in Sunrise faced 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 government intervention occurs.
A new report from UBS shows that Miami is the market most at risk for a bubble burstโ, particularly in the condo sector.
News from the South - Florida News Feed
Latest on Category 5 Hurricane Milton with 180 mph winds, one of strongest hurricanes ever in Gulf
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 areas. While the storm may weaken as it moves north, it is expected to maintain dangerous winds, potentially reaching 80โ90 mph near the coast. Rainfall could be between 4 to 12 inches, leading to freshwater flooding. 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 Gulf of Mexico.
News from the South - Florida News Feed
Senate Republicans join together to condemn Hamas | Florida
SUMMARY: On the anniversary of the October 7, 2023, Hamas attack, Senate Republicans, led by Sen. Rick Scott and Sen. Joni Ernst, condemned Iran-backed Hamas and reaffirmed support for Israel’s survival and the safe release of American hostages. The attacks resulted in the deaths of 1,200 people, including 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.
The post Senate Republicans join together to condemn Hamas | Florida appeared first on www.thecentersquare.com
News from the South - Florida News Feed
Milton becomes Category 5 hurricane, DeSantis calls on counties to clean up debris from Helene
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 areas, particularly in St. Petersburg, where residents 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 west coast with monumental surges and potential flooding. CBS News‘ 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 forecast.
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