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Florida home insurance costs lead nation again
Source: Palm Beach Post Better budget for more than sunscreen and bug spray. Florida once again has the nation’s costliest home insurance, a new report shows. It is the only state with an average annual premium above $2,000. Read more…
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Hot and not: Uneven fortunes for Palm Beach County housing market
Source: Palm Beach Post By one measure, at least, Palm Beach County’s housing market is on fire. From late 2015 to late 2016, the county’s home prices jumped 12 percent, the highest appreciation of any metro area in the country, according to a recent study by Ten-X, an online real estate marketplace based in California.…
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Why a severe housing shortage means reduced wages for workers
Source: PBS According to a new report, more than 40 million American households are spending a third of their income on rent, and housing shortages in major cities such as New York and San Francisco may ultimately lead to billions of dollars in lost economic productivity. Special correspondent Duarte Geraldino reports on the origins of…
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Housing affordability improves, but trend to reverse as rates rise
Source: Palm Beach Post After the surprise Brexit vote this summer, mortgage rates fell below their already rock-bottom levels. Following Donald Trump’s unexpected victory on Nov. 8, mortgage rates jumped. Whether mortgage rates will rise sharply or gradually is anyone’s guess, but the cost of borrowing plays a key role in the direction of the…
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In Palm Beach County, buying beats renting by a wide margin, Trulia finds
Source: Palm Beach Post For Palm Beach County renters, Trulia chief economist Ralph McLaughlin has some simple advice: Buy a house now. Palm Beach County ranks No. 2 on Trulia’s list of cities where buying beats renting. We’re in a virtual tie with Miami-Dade County. Read more…
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10% rise in home prices points to seller’s market — but for how long?
Source: Palm Beach Post Palm Beach County’s housing market remains skewed in favor of sellers, although the seller’s market might be easing ever so slightly. The median price of a single-family house sold in September was $316,000, up only slightly from $315,000 in August — but a hefty 10.9 percent increase from a year ago,…
