Florida braces for Hurricane Milton

Florida, still recovering from the devastating Hurricane Helene, will be hit with another natural disaster in two weeks as storm Milton is expected to make landfall in the region’s Gulf Coast on Wednesday.

The storm briefly reached category five before returning to category four status.

Forecasters from the National Hurricane Center (NHC) say “potentially catastrophic” storm surges are possible along coastal areas. Around 15 million people are under flood watches, and 11 million are warned of tropical tornadoes.

Residents have been asked to evacuate, and according to Florida Governor Ron DeSantis, the National Guard will have 8,000 troops on the ground. 

President Joe Biden has authorized the FEMA to coordinate disaster relief. Schools in over 20 counties remain closed, and college classes are canceled. The Tampa Bay International Airport halted flights.

The hurricanes are also hurting the housing market.

The state’s West Coast housing inventory is piling up as buyer interest dwindles and more people decide not to move to Florida.

In August, the number of single-family homes for sale in Tampa, Orlando, and other regions was up 50%, but demand decreased 10%.

Catastrophic climate conditions have increased insurance premiums, which are up 400% in Florida in the past five years.

Florida’s situation contrasts with the population wave it experienced between 2021 and 2023.