In the wake of the COVID-19 pandemic, our middle class has been hit the hardest. With the ever-increasing costs of maintenance and supplies, the shortage of attainably priced housing has become the most urgent crisis in the state. Even before the pandemic, more than a third of renters are spending over half of their income on housing, owing to the fact that Florida is one of the least affordable states in the country.
Despite the numerous construction sites that are currently active in South Florida, numbers can be a bit misleading. Indeed, these housing developments upon completion will simply be out of reach for those who live on a tight budget. The main contributing factor here is that these individuals are paid exceedingly low wages in comparison with the high prices these housing units usually require.
At Monceau Real Estate, we are committed to building more attainable housings in Florida. We believe that solutions lie in partnering with community leaders and with city and county officials. We found that impactful developments can be achieved through the deferral of impact fees, the allocation of tax incentives, or the conveyance of public lots.
