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Search resuls for: "Insider's Jordan Pandy"


4 mentions found


☆ Florida's real-estate market is on edge amid back-to-back hurricanes
  + stars: | 2024-10-08 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +3 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAnother hurricane is expected to hit Florida as the state continues recovering from Hurricane Helene. CHANDAN KHANNA/Getty ImagesBack-to-back hurricanes represent the latest problem for a real-estate market facing buyer's remorse. It's representative of the extremes the Sunshine State's real-estate market has faced in recent years. One Florida resident whose home sustained almost three feet of water damage from Helene cut their listing price by 40%.
Persons: —, Hurricane Milton, Ron DeSantis, Jane Castor, It's, Helene, CHANDAN KHANNA, Jordan Pandy, Dan Latu, Madeline Berg, it's Organizations: Business, Service, Florida Gov, Moody's, FEMA, Small Business Administration Locations: Florida, Hurricane, Tampa Bay, Tampa, Milton, Texas
☆ Living in a ski town sounds like a dream. But the reality is crushingly expensive.
  + stars: | 2023-11-19 | by ( Dan Latu | ) www.businessinsider.com   time to read: +5 min
Ski towns are so expensive that workers struggle to afford local housing and stay in their jobs. Vail, Colorado has spent $17 million paying homeowners to rent to local workers, according to the Wall Street Journal. The typical home value in Breckenridge was $1.1 million in October, while in Vail, 40 miles west, it was $1.6 million, according to Zillow. He told Business Insider earlier this year that the worker exodus from Vail has forced his business to stop offering lunch some days. Advertisement"Teachers, like myself, want to stay here in the community, but doing so requires the stability that homeownership can offer," Weibel told Business Insider.
Persons: —, Callie Kuchan, Business Insider's Jordan Pandy, Kuchan, Pandy, Vail, George Ruther, Ruther, he's, Paul Anders, Anders, Allison Weibel, Weibel Organizations: Wall Street, Service, Business, Street Journal, US Department of Housing, Urban, Policy Development, Research, Vail Daily, Vail Locations: Vail , Colorado, Breckenridge , Colorado, Illinois, Chicago, Breckenridge, Vail, Aspen, , Montana
☆ What do homeowners in California and Florida have in common? A major insurance problem
  + stars: | 2023-10-19 | by ( Kelsey Vlamis | ) www.businessinsider.com   time to read: +4 min
Homeowners in both California and Florida are facing a home insurance crisis due to natural disasters. AdvertisementAdvertisementFormer Florida residents Natalia and John told Insider's Jordan Pandy that they had to leave after their homeowners insurance skyrocketed to $12,000. The lifelong Florida residents said they moved to a town in Wisconsin where they could get a lot more bang for their buck. Across the country, another form of natural disaster is complicating homeowner's insurance in the West, including California. "Modernizing our insurance market is not going to be easy or happen overnight," California Insurance Commissioner Ricardo Lara, said, according to AP.
Persons: —, Natalia, John, Insider's Jordan Pandy, Insider's Catherine Boudreau, Dan Latu, Ricardo Lara Organizations: Service, Census, CBS News, Guardian, Allstate, AP Locations: California, Florida, Wisconsin
☆ Cash-strapped homeowners are swarming to HELOCs at the fastest rate in more than a decade to pay for food, gas, and renovations
  + stars: | 2023-03-01 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +6 min
Higher mortgage rates have curbed cash-out refinancing, one way of tapping the equity. HELOC rates have climbed, too, but homeowners have flexibility with how much financing they buy versus taking out a 30-year loan on the house. HELOC rates averaged 7.8% in mid February. High mortgage rates have created a lock-in effect in the US housing market as the majority of US home loans were created with 30-year rates below 4%. Since October, when he bought the property and started renovations, the interest rate on his loan has increased from 6.5% to 7.5%.
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