Florida housing affordability
Housing costs outpace pay [Palm Beach Post]
In another sign of Florida's tightening housing affordability squeeze, the state's soaring home prices are far outpacing workers' pay raises.
A study released Tuesday by the Federal Deposit Insurance Corp. ranks Florida fourth in the nation in the gap between home price increases and income growth, behind only Arizona, Nevada and California.
Florida home prices soared 24.5 percent in the 12 months that ended June 30, while income rose only 5.4 percent, the FDIC said. That 19 percentage point gap is well above the 11 percentage point difference a year ago, when Florida ranked seventh nationwide.