“Miami Pitches $2.5 Billion Bond to Stem Dire Housing Crisis”
March 6, 2024
“Miami-Dade County is seeking $2.5 billion to cope with one of the worst housing crises in the US. Mayor Daniella Levine Cava will propose the new, property tax-backed debt package to voters later this year, she said. The largest portion of the money — about $800 million — will go to a fund that will finance affordable housing projects, while the rest will be used to improve the county’s infrastructure, including parks, sewage and roads…
Home prices in the Miami area have surged 82% over the past five years, thanks to steady inflow of wealthy newcomers…”
https://finance.yahoo.com/news/miami-pitches-2-5-billion-130000621.html