State legislatures are making a push to bring more affordable housing to the booming Florida market.
The Florida Senate passed Friday the Live Local Act, which is an $700 million effort to build more affordable housing in cities such as Jacksonville, where local realtors have said a lot of buyers can’t afford homes.
“I had a closing three days ago. I was a listing agent, and we had difficulty selling the property. When we finally got an offer, the buyer was asking for 4% toward the closing costs,” Mustafaeva said. The Live Local Act will incentivize developers to invest in more affordable housing and development areas that are economically struggling.
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