Florida City Real Estate Market Crashes After Being Super Hot A Few Years Ago — Costs of Climate Change - CleanTechnica

The real estate market in Cape Coral, Florida, has sharply declined after a period of rapid growth, now being labeled the “worst housing market in America.” Housing prices have fallen by 11% over the past two years, with a large inventory of about 12,000 homes for sale and prices continuing to drop. This downturn is largely attributed to the increasing frequency and severity of hurricanes hitting Florida’s Gulf Coast from 2022 to 2024, which have caused extensive flooding, property damage, and rising insurance costs. These climate change-driven impacts are making homeownership and rentals less affordable and less attractive, contributing to the market’s collapse. Beyond the housing market, Cape Coral faces broader economic and livability challenges. Residents report a mismatch between the cost of living and available wages, with limited job opportunities exacerbating financial strain. Politically, Florida’s Republican leadership has largely downplayed or ignored climate change risks, actively restricting discussion and blocking clean energy initiatives such as offshore wind projects and federal funding