Ned Murray, associate director of the Jorge M. Pérez Metropolitan Center at Florida International University, said the eviction pace would be higher if not for lingering rental aid from federal COVID relief dollars.
Desplazamientos y desalojos en Hialeah: La crisis de la vivienda tiene un origen difícil de resolver
“Los alquileres en Miami-Dade aumentaron un 34 % interanual (2020-2021) y continúan encareciéndose en 2022, mientras los salarios han incrementado alrededor de un 3% durante este tiempo”, indicó Edward Murray, director asociado de Investigación del Centro.
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.
Giving a 60-day notice may give renters more time to plan for other housing accommodations. But, according Florida International University's Dr. Edward Murray, an expert on housing market issues, "It's a band-aid solution."
A job that pays $18 an hour can afford to pay $947 a month without being cost-burdened, said Edward "Ned" Murray, associate director of Florida International University's Jorge M. Perez Metropolitan Center. A household that spends more than 30% of its income on housing is cost-burdened, according to the U.S. Department of Housing and Urban Development.
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.
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.
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.
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.”
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.