Hurricanes? Meh. I don’t even remember their names

Despite
these
disruptions,
people
still
flock
to
Florida,
drawn
by
its
lifestyle,
weather,
and
lack
of
state
income
tax.
As
of
April
1,
2024,
Florida’s
population
exceeded
23
million,
according
to
a
state
report,
making
it
the
third
most
populous
state
after
California
and
Texas.
“Florida
is
still
going
to
be
a
hot
spot,”
Plocica
said,
noting
that
hurricanes
don’t
seem
to
deter
most
people
from
moving
to
the
state.
This
marks
a
15%
increase
since
2015,
when
Florida
first
hit
20
million
residents.
While
deaths
now
outpace
births,
the
state
added
over
358,000
new
residents
in
2023.
That
growth
is
expected
to
slow
slightly,
but
projections
still
show
the
addition
of
over
300,000
new
residents
annually
over
the
next
five
years.

In
some
ways,
the
state’s
growth,
despite
its
natural
disaster
risks,
reflects
a
broader
trend.
“It’s
not
like
these
hurricanes
just
popped
up
this
year,”
Plocica
pointed
out.
“You
know
what
you
get
when
you
move
into
Florida.”
While
hurricanes
may
hit
the
coastlines,
many
people
are
moving
inland,
where
the
risk
is
lower.
“If
you
don’t
want
to
live
on
the
coast,
inland
you’re
going
to
be
OK
most
of
the
time,”
he
said.
And
even
when
storms
do
come
through,
the
state’s
building
codes,
improved
since
Hurricane
Andrew
in
1992,
mean
that
most
homes
are
more
resilient
to
storm
damage
than
ever
before.

That
said,
hurricanes
do
impact
the
housing
market,
especially
in
terms
of
availability.
Plocica
noted
that
in
an
already
low-inventory
environment,
storms
can
temporarily
take
homes
off
the
market.
“If
someone’s
looking
at
a
house,
or
let’s
say
a
seller
has
a
house
and
they’re
looking
to
put
it
up
for
sale,
and
stuff
happens,
it’s
going
to
take
them
longer
to
get
the
house
ready,”
he
said.
This
further
limits
an
already
tight
supply
of
homes,
especially
in
high-demand
areas.

Insurance
is
another
hurdle.
As
hurricane
activity
continues,
insurance
premiums
have
skyrocketed,
making
homes
less
affordable.
“Back
in
2012,
I
would
estimate
about
$1,500
for
annual
insurance.
Now
I’m
starting
estimates
at
$2,800
to
$3,000
a
year,”
Plocica
explained.
This
dramatic
rise
is
pricing
some
buyers
out
of
the
market,
especially
as
premiums
increase
debt-to-income
ratios,
disqualifying
potential
homeowners
who
would
have
otherwise
qualified
for
loans
just
a
few
years
ago.