Exceptionally Costly: Three South Floridians Dealing with Hovering Rents Communicate Out – WSVN 7News | Miami Information, Climate, Sports activities

(WSVN) – The cost of everything seems to be increasing, and in South Florida this is especially true when it comes to rent. The market is so hot that many people are being priced “from paradise”. Kevin Ozebek did the 7 investigations tonight.

Deanna Hendrickson, flight attendant: “That would be my favorite thing, honestly just the angel.”

Her Christmas tree is topped and decorated, but Deanna Hendrickson wonders if this will be the last holiday at her Coral Springs apartment.

Deanna Hendrickson: “I’m stressed and wondering if I should stay here? Am I moving? “

If she extends her lease on the apartment she shares with her two boys, she’ll have to spend an additional $ 500 a month.

Deanna Hendrickson, flight attendant: “I thought this was ridiculous. I’ve never seen such a high price. “

Ryan Rea has already made his move. He just rented this apartment in downtown Miami.

Ryan moved a few blocks away from a one-bedroom because the landlord was raising his rent by $ 1,000 a month.

Ryan Rea, digital marketing expert: “I thought, ‘Oh no.’ The device is nice, but it takes a lot of work to update all of that, and it’s not worth $ 3,100. It’s just not. “

Deborah Pollock just had to move. She left her apartment on Collins Avenue in Miami Beach because the rent was $ 1,300 a month.

Kevin Ozebek: “When you heard a monthly increase of $ 1,300, what was your first reaction?”

Deborah Pollock, CFO of a biotech company: “We could get a lot more for this money without knowing that you can’t. Not on the market now. “

To find out why these three South Floridaers were hit by such huge rent increases, we reached out to Ned Murray of Florida International University.

Ned Murray, FIU Professor: “Right now the market in Miami is the most priceless in the country, so you could go anywhere and be better off now than in Miami.”

Despite Miami’s ever-expanding skyline, Professor Murray says the supply of apartments is nowhere near meeting demand.

This is what really worries him: In the past year, rental prices in South Florida have increased by 30%. However, wages have only increased by about 2%.

Ned Murray: “The economic impact of this is significant.”

His data shows that since the pandemic, another 200,000 South Floridians have been spending half or more of their income on rent.

Professor Murray says they will likely leave South Florida.

Ned Murray: “Your quality of life just disappears at this point.”

Unlike some states, Florida has no rental cap laws.

Florida State Rep. Anna Eskamani: “Landlords have a lot of leeway when it comes to rent increases.”

State representative Anna Eskamani tries to change this with House Bill 60-17. If passed, it will be easier for Florida county or city governments to set limits on rent increases.

Florida State Rep. Anna Eskamani: “Far too many lawmakers don’t care about tenants. They focus on property rights, but not tenant rights, so we’re trying to change that culture. “

As for our tenants, Deborah is relieved that she found her new apartment just in time.

Kevin Ozebek: “How close, would you say, were you about to say goodbye to South Florida?”

Deborah Pollock: “Very close. I found this place in late October. We had to be gone on November 30th, so I wouldn’t have found that, I’m not sure we’d be standing here and talking now. “

Ryan loves the construction work around his new apartment. He says the more apartments are built, the cheaper they get.

Kevin Ozebek: “So from your balcony you can see how the solution is being built in front of your eyes?”

Ryan Rea: “I think so, yes.”

Since we met Deanna, she has been looking for a new apartment.

Deanna Hendrickson: “Yeah, it’s a little depressing.”

But she hasn’t found a place that suits her and her boys yet, so she plans to work overtime to be able to afford her current location. So it will overcome what is currently the worst renting market in America.

MEP Anna Eskamani has proposed her rental law for the past few years, but it has always been rejected.

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