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Is Florida's Commercial Real Estate Market DOOMED?
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In this week's episode of Requity Insights, the focus is on the insurance crisis in Florida and its impact on the real estate space. The episode discusses how insurance rates in Florida have DOUBLED in just four months, leading to many property owners renewing their current insurance policies early to avoid the significant increase. The discussion sheds light on the reasons behind the insurance crisis and how it has affected businesses and individuals in the state. We also highlight the challenges that property owners and developers are facing in securing adequate insurance coverage and how people are anticipating for the state to step in.
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Keynotes:
00:00:00 – Introduction
00:01:14 – What exactly is the Insurance Crisis?
00:02:19 – New bill being passed in Florida
00:03:40 – How the insurance increase has impacted our acquisition process
00:11:13 – Steps we’ve taken to ensure safety during this time
00:12:50 – Where do we see the rates going in the next year
00:14:13 — Recap and advice we have to help you navigate this
00:15:40 – Outro
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