“Not very many deals can stomach the increased finance, insurance, and construction costs and still be economically viable,” said A. David Lynd, CEO of The Lynd Group. “I think we will see more deals put on hold until things turn around a bit and the costs come down.”
March 23, 2023 at 02:42 PM
4 minute read
Florida Bureau Chief
For the ninth time in the past year, the Federal Reserve has increased its key interest rate—this time, by 0.25 points to just under 5%, in an effort to bring down inflation.
So what does the rate hike mean for South Florida’s real estate market? According to Native Realty CEO Jaime Sturgis, the rate hikes mean they’re not at their peak yet.
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