Today’s Naples real estate news covers the State of Florida needing to borrow more money and conflicts between what businesses face as well as a recommendation that Florida is one of the best places to do business.
FLORIDA BUSINESS INSURANCE – Many businesses along the Gulf Coast have had a difficult time obtaining wind insurance coverage after the 2005 hurricanes and often pay more than twice as much as in previous years.
FLORIDA BUSINESS – Florida is one of the best places to do business, ranking seventh in the 2007 listing of business-friendly states by Forbes.com. Criteria considered included job and income growth, living costs, and educational achievement, as well as projections of job, income, and gross state product growth.
WORKFORCE HOUSING - The problem of housing affordability is affecting just about everyone in the U.S., except perhaps those in the top income brackets, according to housing industry experts. And it’s the middle-income service workers who are suffering the most.
Affordable housing remains an issue within the Naples Florida real estate market, however it seems to effect more than just the middle-income service workers.
ECONOMY – Speaking to a congressional committee Wednesday, Federal Reserve Chairman Ben Bernanke all but ruled out new interest-rate cuts. He said inflation remains the No. 1 problem and the housing correction is lasting longer than expected, but neither is likely to sink the economy.
HURRICANES – Florida’s Hurricane Catastrophe Fund managers are making plans to borrow up to $7 billion to help quickly pay claims if a large hurricane hits the state this year. Negotiations are under way to purchase a type of bond known as “floating rate notes.”
It seems like the fund managers are looking for more money, since it was only a short time ago that the figure was $5 billion.