Holly Meyer Lucas was recently featured in The New York Times this week as she discussed her insights on the home insurance rates in Florida, and how they are affecting Florida homeowners. These rising costs however have not been reflected in inflation data, causing a disconnect between many Florida natives, and the said state of the economy.
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As the owner of the number one real estate team in Palm Beach County, our very own Holly Meyer Lucas has yet again been featured in a major news article. This week, The New York Times published “Home Insurance Is Clobbering Consumers. Yet It’s Barely Counted in Inflation”
Considering her extensive experience in the real estate market, Holly Meyer Lucas shared that around every 30 of 100 homes The Meyer Lucas Team sell have been due to the inability of the homeowners to maintain paying the increased home insurance rates.
"It is the housing crisis that nobody is talking about." Ms. Meyer Lucas said. The houses sold easily, but often to well-off cash buyers who could drop the insurance altogether because they did not have a mortgage that required them to carry it.
Others featured mention the rising inflation rates, still however not accounting for the increase in insurance rates. These additional commenters also support the quotes by Holly Meyer Lucas, reinstating the fact that many homeowners are being pushed to sell their homes due to the increased annual expense, or, taking the risk of dropping insurance altogether.
Another note made by the article discusses families moving into retirement. That state-provided insurance plans include deductibles so high that any storm or damage would put families on a fixed income at a massive loss.
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ABOUT THE MEYER LUCAS TEAM AT COMPASS
The Meyer Lucas Team at Compass is an award-winning, top producing real estate team based in the Jupiter area of South Florida and led by Holly Meyer Lucas. Consistently ranked among the leading real estate teams in the state and nation, Holly and her team take pride in providing premium luxury real estate services to our local communities across the Palm Beaches and Treasure Coast. While Holly is known locally and recognized nationally for her work finding homes for Jupiter's professional athletes and their families, the Meyer Lucas Team treats every buyer and seller like a VIP. Whether you are buying a home, selling a home, or investing in real estate, contact our team today to get the ball rolling on your next move. Learn more about the Meyer Lucas Team at www.meyerlucas.com.
