Florida has been labeled a progressive state before, when it introduced radical ‘green’ measures throughout the state, but this time its innovative idea is to offer help to first time buyers. Florida has recognized that younger people are being pushed out of the housing market, and are trying to rectify this with fairly substantial financial incentives.
This failure to accommodate young people in the realty market has happened because nationwide, most homes have become larger and more expensive. Consequently, they are too pricey for the average first time buyer.
A spokesman for a local builders association told the St. Petersburg Times that builders will still be building over-sized homes but there will also be an increase in smaller houses being built. This change in strategy is not seen as a fad by builders; it is simply sound economics as smaller homes are in short supply.
Building smaller homes in the Florida area could also be one way of keeping the younger generation active there. There have been extensive studies involving the affordability of house prices for young people. One recent study was carried out in Boston, Massachusetts. This...
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