Florida Governor Ron DeSantis is one of the most talked about 2024 contenders.
There is a good reason for that.
And now Ron DeSantis just smacked down Joe Biden with one huge victory.
Joe Biden’s failures continue to drag down the economy.
The home building industry is the latest sector to feel the pain of Biden’s socialist agenda.
Peebles Corporation Chairman and CEO Don Peebles told Fox Business host Maria Bartiromo that the one-two punch of runaway inflation and rising interest rates choked off the ability of everyday Americans to purchase new homes.
“It’s a double whammy. It’s the lack of demand and declining demand because buyers and consumers can no longer afford to buy what they could have bought last year, or they’re priced out of the market. And then on the development side, the credit markets are essentially freezing,” Peebles stated.
New home sales continue to fall as Biden’s sputtering economy teeters into recession.
“Housing starts slid 0.5% last month to an annual rate of 1.427 million units, according to new Commerce Department data released on Tuesday. Applications to build – which measures future construction – fell to an annual rate of 1.34 million units, a decrease of 11.2% from October. Permits for construction of single-family homes, which account for the biggest share of homebuilding, also dropped 7.1%,” Fox Business reported.
With new home sales on the wane Ron DeSantis stepped in and worked with the Florida legislature to deliver relief to everyday Floridians by reforming the state’s property insurance market.
“Something has to be done to these out-of-control insurance costs. But on the same hand, the carriers are absorbing massive risk – you’re taking a big risk to insure in Florida, you take a big risk to insure in California, especially anywhere there have been out-of-control fires,” Peebles stated. “So I think that DeSantis, this move is going to be focused on trying to help the average person be able to afford to live in their homes.”
Hurricane Andrew wiped out many property insurance carriers in Florida back in 1992 and the remaining companies are fearful to underwrite policies because of the risk Florida faces from hurricane season.
DeSantis’ legislation will create a $1 billion reinsurance fund, lower litigation costs, and push some consumers out of government insurance programs and back into the private market.
Peebles told Bartiromo that DeSantis’ legislation could be a model for the nation.
“If you look from a governmental perspective, there’s no real policy on how we’re going to address some of these things. Americans need homes. They need a place to live,” Peebles added. “We are short in every major market with regards to housing and you’ve got an affordable housing crisis as well in most of the major cities in the country.”
If DeSantis runs for President in 2024, DeSantis will likely position himself to the public as a conservative fighter who wins and gets results.
Conservative, free market reforms that fixed the property insurance market problem in Florida and delivered real answers to the public will go a long way toward making that image stick.
DeSantis Daily will keep you up-to-date on any new developments in this ongoing story.