Home Real Estate Soaring housing market leaves people struggling to buy, rent

Soaring housing market leaves people struggling to buy, rent

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BOYNTON BEACH, Fla. — The combination of soaring housing costs and a shrinking number of home insurers has more and more people facing a hard question: Are they now priced out of paradise?

“It’s incredibly frustrating, everything is unavailable. There’s just such an influx of people coming to Florida because this is where everybody wants to be,” said Joe Lafauci who has been struggling to find a place to live.

The 24-year-old moved to Palm Beach County from Tampa to start his career in finance, but the current home market has left his hopes dwindling.

“We’re just starting out, we don’t have a basis of cash like New Yorkers, Californians like other people who move here do. So, when we get beat out by a cash buyer, it’s practically hopeless at this point,” said Lafauci.

Lafauci said the rental market is just as challenging and he has been forced to stay in an Airbnb for 6 months.

“Four walls and a roof at this point, a refrigerator a stove and a…

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