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January

In an email, Ned Murray, associate director of the Jorge M. Pérez Metropolitan Center at Florida International University, said that Broward and Palm Beach counties are seeing nowhere near the increases Miami-Dade has seen in its professional ranks.

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February

“(A low unemployment rate) is very deceiving because of the record number of people leaving their jobs,” said Ned Murray, an expert on economic and housing market issues and associate director of the Jorge M. Pérez Metropolitan Center at Florida International University.

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"It's a question of after we pay the mortgage, what do we have left for other necessities like food and clothing and medicine?" said Ned Murray, associate director of FIU's Metropolitan Center, where he concentrates on economic development and housing.

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“Over the past 18 months, we’ve had these excessive rents and owner costs that have gone up 30% year over year,” said Edward Murray, associate director of the Metropolitan Center at Florida International University. “We would assume that based on precedent, we are going to see that accelerate again.”

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March

Edward "Ned" Murray, associate director of the Jose M. Pérez Metropolitan Center at Florida International University, said there's clear evidence that Miami-Dade is losing its low-wage workforce due to rising housing costs, and that it will likely get worse.

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“I wish I had good news. I wish I could say things are improving in South Florida, but I can’t,” said Ned Murray, associate director of the Metropolitan Center at Florida International University. Murray noted that hidden costs such as repairs and upgrades need to be considered when buying a home in today’s “as is” market where sellers wield all the power.

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April

Still, Ned Murray, associate director of the Perez Metropolitan Center at Florida International University, said he is concerned about a lack of mobility because of the high prices. He also worries people will start taking out unaffordable second mortgages or refinancing loans based on inflated home values.

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The report by Florida International University’s Jorge M. Pérez Metropolitan Center concluded there’s a lack of at least 119,751 affordable rental units for households with extremely low, very low and low incomes countywide, and about 135,120 houses that moderate, working and middle-income households could buy.

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Ned Murray, associate director with the Jorge M. Perez Metropolitan Center at Florida International University, called it a “dire situation for the majority of renters in Broward County right now.”

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The affordability predicament dates back as far as the years preceding the 2008 financial crisis, which crushed Florida’s housing bubble. The issue continued to fester and by 2019, more than half of Miami households were spending more than 30 percent of their income on housing, according to Jorge M. Pérez Metropolitan Center at the Florida International University.

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“It appears that what the mayor is doing is addressing the issue at hand on more of an emergency basis,” said Ned Murray, associate director of the Jorge M. Pérez Metropolitan Center for economic and housing research at Florida International University.

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"Maybe the psyche is worse than the actual," said Howard Frank, Director of FIU Pérez Metropolitan Center. Despite the sharp rebound of economic activity and employment, Florida consumers are less optimistic this spring compared to a year ago.

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May

According to Florida International University's Dr. Edward Murray, an expert on housing market issues, adding to these pressures is the trend of investment companies sometimes buying up entire neighborhoods, driving up housing prices. Home purchases by big investors has skyrocketed in Florida, Murray said.

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Dr. Ned Murray is the associate director of the Jorge M. Pérez Metropolitan Center at Florida International University. He said different factors have contributed to this housing crisis, including low inventory and the pandemic. “What we’ve seen over the last two years is not only unprecedented, but it really is an exaggeration of anything that you could see in the housing market,” Murray said.

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