Part 6/7:
Interestingly, many might assume that retirees form the bulk of Florida’s new residents. However, recent data from move.org suggests that 65% of newcomers are aged between 25 to 45. This demographic shift indicates that not only are younger workers flocking to the state, but they are also liable for significant costs which could plunge them into financial insecurity.
Such financial pressures may lead to increased numbers of households becoming “house poor”—a term popularized by financial expert Dave Ramsey to describe individuals who can’t afford to meet other expenses because so much of their income is tied up in housing.