Florida real estate has had an interesting go of it the past few years. First hurricanes came racing through and the insurance companies increased their rates dramatically. All this time the housing boom was occurring increasing the property taxes to record highs. Now that the housing industry has slowed down, people are fearful of being upside down on their housing.

And with the politicians in town to pander for the votes in the Florida primaries, real estate is issue #1 with the folks in the sunshine state. So far the pandering has been kept to a dull roar but remember that when the national elections come into play in the fall California and Florida are the two hardest hit states in the country and both have a huge number of electoral votes.

Expect a great deal of focus by the politicians on real estate and a host of regulations to be forthcoming out of this election cycle. The most dangerous 9 words to hear are, “We are from the government and here to help.”

Florida has felt the effects of the national mortgage troubles and housing slowdown as acutely as anywhere in the country. Rampant construction has come to a halt, home sales have plummeted and job losses in housing-related industries have soared. At the same time, residents have seen a rise in property taxes and, after devastating hurricanes in 2004 and 2005, an increase in insurance rates.
Interviews with about two dozen people in this fast-growing Central Florida city found that of all the issues confronting the state, none was as important to most voters as the real estate crisis. Almost all said that slumping property values and rising taxes and insurance costs were at the top of their concerns. via the New York Times.

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