Floridian Climate Refugees | Energy Central

TINC: “Has an exodus from Florida begun?” The short answer is a nuanced ‘no,’ because there is still net inmigration to the state. In fact, more than in other developed nations, Americans are moving into areas with sunshine + views of the ocean, or into the wildland urban interface [WUI] in states like California. But the signs of a countermigration are growing. “Much of Florida’s housing market is cooling off because of a surplus of inventory and dwindling buyer interest.” Part of the reason is that increasing insurance costs are pricing many homeowners out of the market, with premiums up as much as 400% in certain areas over the past 5 yrs. To state the obvious, insurace costs are  predicted to become steeper following this hurricane season—which is not even over yet. A case in point from the Wall Street Journal out of St. Petersburg: Kellen Discoll bought his home there ins 2019. “It flooded for the first time four years ago after tropical storm Eta dumped more than 3 feet of water.” His stalwart response was to tear out the affected drywall, as the four-bedroom home built in 1960 had no flood history. But then it recurred several times, so in the spring of this year he threw in the towel + put it up for sale. After seeing little interest, he cut the asking price. But Hurricane Helene brougth a memorable 6-foot storm surge into his neighborhood, ripping the “For Sale” sign off his front lawn. It etched a waterline to just beneath the doorbell, leading him belatedly to reduce the asking price for a fifth time. “We flooded here four times in the last four years,” said Driscoll, as he threw his television sets, furniture, appliances and other belongings to the curb. So, folks go ahead, give him a really low ball offer. What have you got to lose?