Naples Florida Real Estate News - 11/08/07
DEMOGRAPHICS - University of Florida research finds that Florida’s population grows by about 900 people per day; slightly less than the 1,100 per day a few years ago. Top counties by rate of growth, in order: Flagler, Sumter and Osceola. Top growing counties by number of new people, in order: Orange, Miami-Dade and Hillsborough.
HOMEOWNERS INSURANCE - Do insurance companies work together to maximize profits? Louisiana Attorney General Charles Foti says “yes,” and is suing Allstate, State Farm, Lafayette, USAA, Farmers Insurance Exchange and others, claiming they engaged in an elaborate price-fixing scheme following Hurricane Katrina. It will be interesting to see how this unfolds and the implications that it will have both on Louisiana home owners and insurance companies in the State of Florida.
SUBPRIME LOANS - Fallout from the subprime mortgage industry continued to wreak havoc on Wall Street Wednesday, as three big financial institutions – Morgan Stanley, Merrill Lynch and Citigroup – revealed new financial and legal problems.
HOMEBUYERS - Now is a good time to buy for many first-time homebuyers. “For people with good credit, who’ve shown some responsibility and have some income to work with, there’s plenty of money,” says Kevin Kubacki, a senior loan officer in Greenfield, Wis. The same is true in the southwest Florida areas, especially in the Lee County area.
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