The Commerce Department found housing starts declined in December after a November spike. Building permits picked up, signaling upward construction growth.
Developers see luxury condos dotting Florida's shorelines as new construction takes over the first generation of condos. However, it might be tough to convince current residents to sell.
Empty-nest baby boomers own 28% of the nation’s large homes, while millennials with kids own 14%. A decade ago, young families were just as likely as empty nesters to own large homes.
First-generation condo buildings along Florida's waterways are ripe for demolition to build anew, developers told NPR. But, they said, it's difficult to convince owners to sell.