Credit: Andrey Popov/Adobe Stock Real Estate Deals Increasingly Stalling Across Florida as Increased Costs Push Budget Limits
Lawyers are seeing a surge of issues pop up with their developer clients as higher insurance premiums, construction costs and interest rates push many projects to their budgetary limits.
August 30, 2024 at 11:22 AM
4 minute read
What You Need to Know
- Real estate projects across Florida are facing pressure from several angles, causing budgetary challenges.
- More projects are being put on hold and some are even selling to other developers as their business plans fail due to budgets tightening.
- The trends are causing more demand for local real estate lawyers.
For years now, South Florida's lack of affordable housing has been putting the squeeze on aspiring homeowners. Similarly, developers are facing cost-related challenges that are pausing projects at an increased pace.
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