S. Floridians pushing up cost of second homes - 2004-03-21
Oceanfront property is becoming so expensive and crowded in South Florida that residents desiring a "piece of the beach" are turning to second homes elsewhere along Florida's coast.
Demographers, economists and real estate experts attribute the boom to the growth of wealthy households with no children, low mortgage rates, roller-coaster stock market returns and tax-law changes that eliminated penalties for homeowners trading down to smaller primary residences.
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