Current Event Assignment.

 My news source is News4Jax. The title of the article is Realtors say buyers are reluctant to purchase homes due to constant property insurance hikes. The article was published on April 23, 2023, at 9:01pm and updated on April 24, 2023, at 12:22pm. This article is about the whole state of Florida. The people who are involved are those who own homeowners insurance and people buying homes. This is affecting the entire state of Florida. The plan was signed last week (week of April 16) and will be in effect in October of 2023. Starting in October of 2023 insurers will collect assessments from policyholders and send the money to Florida Insurance Guaranty Association. Some realtors are having a hard time selling homes, condos, and trailers because some people have a set budget. People in the state of Florida are not happy to hear their insurance rates are increasing. It's frustrating for others whose insurance is going up to help fund homes that were affected by natural disasters even though they were not affected. This article has a political standpoint and an economic standpoint. Throughout the history of Florida, there have been bad storms that have hit. Governor Lawton Chiles had to deal with Hurricane Andrew and widespread wildfires while in office. Governor Jeb Bush with four Category 3 or higher hurricanes in six weeks while in office. Governor Charlie Crist with the BP oil spill in the Gulf of Mexico; this one is not a natural disaster but Floridians felt the effect of it. These three governors were mentioned in the textbook The History of Florida in chapter 22 page 435. From a political standpoint, should there be laws made to prevent insurance company's passing on losses to other Florida residents from natural disasters? From an economic standpoint, people who have set budgets for buying a home are forced for the next year to pay more. This makes fewer people want to buy homes. For those who already have a home are now dealing with the effects of their insurance going up every year. 

Here's the article: https://www.news4jax.com/money/2023/04/24/realtors-says-buyers-are-reluctant-to-purchase-homes-due-to-constant-property-property-insurance-hikes/

Photos taken by me of my neighborhood.