Arguments Against the 2023 Building Permit Ban - Part 2

A primary argument in favor of the building ban in 2023 is population control. In addition to safety during hurricane season, many are in favor of limiting population to protect the slow pace and casual lifestyle that Florida Keys residents enjoy. Those who would seek to get rid of the building ban are quick to point out that many who own property in the Florida Keys are only part-time residents. Florida Keys real estate is largely made up of second homes, with owners primarily residing out of state and who only use their vacation homes for part of the year. Studies show that most of these part time residents come in winter months, outside of hurricane season, and sporadically so that - though they own real estate - their numbers should not be included in the population counts that have led to the 2023 deadline. They also argue that rates of population growth are not properly measured because of this snow-bird effect, and argue that population growth that actually impacts full-time residents is much slower.

Critics of the building ban maintain that the preventing of any further development of real estate will have major implications for businesses and residents throughout the Keys. Building and construction companies will be seriously impacted and some may be rendered obsolete. Residents looking to move within Monroe County will face a serious seller’s market in the increasingly competitive market with dwindling inventory. Prices will continue to skyrocket as a result of the lack of new listings, sometimes pricing out those who already live and work here. Taxes may increase due to the financial burden placed upon local governments as landowners who are affected will inevitably sue the county for gutting their investments.  For these reasons, and many more, large groups oppose the 2023 deadline for the buildout.

Wherever you fall on the issue, surely the 2023 building permit ban will have far-reaching implications on the Florida Keys real estate market and those who live here.

For more information on arguments opposing the ban, read part 1 on this topic.