"Florida's Insurance Crisis Threatens Mortgage Market"

The ongoing insurance crisis in Florida, driven by the departure of major insurers and increased risk of extreme weather events, could lead to a downturn in the state's real estate market. With homeowners paying the highest insurance premiums in the country, the unaffordable cost of home insurance risks leaving residents without coverage and unable to secure mortgages, potentially leading to a statewide decline in the housing sector. The exodus of insurers and lack of affordable policies have forced many residents to consider going without coverage, while experts warn of a significant negative impact on the real estate market, particularly for first-time homebuyers and retirees on fixed incomes.