How rising costs are reshaping South Florida's real estate market
Real Estate News How rising costs are reshaping South Florida's real estate market
This collection of stories explores how rising costs impact South Florida's real estate market, highlighting shifts in affordability and pricing that drive decisions for condos, homes and rentals in 2025.
In Hollywood, new luxury apartment buildings continue to emerge, posing affordability challenges despite the development boom in the downtown area. Meanwhile, in Miami, residents grapple with soaring rent costs, making it one of the most rent-burdened metro areas in America.
Development plans on Florida's Gulf Coast involve transforming a former mall site into affordable apartments as a response to housing demands.
Read the stories below.
Soleste Hollywood Blvd at 2001 Hollywood Blvd is pictured hovering among existing buildings on Sunday, Sept. 15, 2024, in Hollywood, Florida, as the city shores up its housing needs with development in its downtown area in an attempt to address the city's affordable housing needs. By Carl Juste
NO. 1: EVEN AS HOLLYWOOD BUILDS MORE APARTMENTS DOWNTOWN, AFFORDABILITY REMAINS A CONCERN
A look at what is coming and why it might not be enough to ease housing pressure | Published October 5, 2024 | Read Full Story by rhabersham@miamiherald.comRaisa Habersham
Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski
NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT
New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver
File photo of houses in Miramar, where all homeowners take their homestead exemption tax break.
NO. 3: DO YOU OWN A ZOMBIE HOUSE? A VACANT HOME COULD COST YOU, AND YOU MIGHT NOT EVEN KNOW
What to know about the real estate situation. | Published November 12, 2024 | Read Full Story by Lew Sichelman
An affordable housing apartment complex is planned for the DeSoto Square Mall property where currently storm debris is being processed. By Tiffany Tompkins
NO. 4: WANT TO LIVE WHERE A MALL USED TO BE? AFFORDABLE APARTMENTS COMING TO THIS FLORIDA AREA
Check out what's planned. | Published January 22, 2025 | Read Full Story by Jason Dill
The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
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New PGA Tour CEO must focus on television rights as much as LIV golf split
There are likely many reasons that Brian Rolapp was hired as the new CEO of the PGA Tour, and several reasons that he will take over day-to-day operations of the men's tour while Commissioner Jay Monahan slowly heads toward the end of his contract in 2026. In many ways, it seems like Monahan beat the odds by staying in his job so long, two years after his announcement of a deal with the Saudi Arabian Public Investment Fund caused questioning and even anger from rank-and-file tour members over the proposed deal. Rolapp will have to deal with the continuing efforts to end the split in the game between the PGA Tour and LIV Tour. But pretty high up among those reasons Rolapp has the new CEO job has to be Rolapp's previous position with the National Football League, the unstoppable steamroller of American sports. Rolapp, you see, was most recently the chief media and business officer of the NFL. In that capacity, he was an integral part of media rights negotiations for the league, and we all know that it is media money that pushes the NFL to higher and higher heights each year. Schupak: Can Brian Rolapp make the PGA Tour a 'ham sandwich business' again? That's important because the looming renewal of television rights for the PGA Tour is going to be a priority. Where golf will be seen in the future, or at least how consumers can view the PGA Tour, will be key to the growth of the game in the coming years. The tour's current contracts with CBS, NBC and ESPN run through 2030, contracts that bring in $700 million. Those contracts do not include events like the Masters or the U.S. Open, non-PGA Tour events that have separate deals with the networks. So Rolapp might well focus on two main issues when it comes to broadcast rights deals. First, in an era of spotty ratings, should the deals be renegotiated before the completion of the contracts in 2030? Second, in looking beyond 2030, will Rolapp and the PGA Tour look for something other than traditional television platforms like broadcast television? Anyone who watched the U.S. Open last week knows that at least some of the broadcast hours were exclusively on Peacock, NBC's streaming platform. You could also watch the event on Peacock while the championship was being shown on NBC. Streaming is becoming the new normal in American sports, with Netflix showing NFL games, particularly on Christmas Day, Peacock grabbing NBA games under that league's new deal with NBC and even the PGA Tour having a digital deal to show its tournaments on ESPN+. Other NBA games are moving from TNT this year to Amazon Prime next year. It seems logical that more and more of the PGA Tour's product will find its way behind paywalls as cable continues to bleed subscribers. Yahoo Finance reports cable subscriptions were down by 1.6 million in the first quarter of this year and 6 million since the first quarter of 2024. Options for streaming for the tour include ESPN+, which already works with the tour. Could the tour put its own streaming app together, like other sports and teams are doing? Peacock and potentially Paramount+ are natural partners because of their association with NBC and CBS. We haven't mentioned yet that Comcast, which owns NBC, is spinning off many of its cable networks in the coming year to the highest bidder. Part of that package will be Golf Channel, which shows at least the first two rounds of most PGA Tour events and all four rounds of numerous events, including The American Express in La Quinta each January. It could be that the tour has to negotiate separate deals with Golf Channel once it splits from Comcast. If the PGA Tour found another outlet to show its events, would Golf Channel even exist? It's a lot to take in, especially with just four and a half years left in the current contracts. You know the tour and the networks would rather have a new deal done much earlier, not waiting until the last minute. That is at least part of the landscape that Rolapp will inherit as the first-ever CEO of the PGA Tour. It might not be as front-burner headline worthy as the negotiations with LIV, but in the long term, television rights might be just as important. If the NFL has streaming for its games, it might make sense that Rolapp at least explores that area for the PGA Tour.
