Cost of living increasing -- salaries NOT!
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1/14/2007
I have lived in Pensacola most of my life, and I love it here. I love warm weather, and we get PLENTY of that (with plenty of sugar white beaches on which to enjoy those warm days). Since Hurricane Ivan hit, though, I have to admit my family has considered moving multiple times.
Our homeowners insurance used to cost us less than $1000 annually. This year, the cost for coverage (with HIGHER deductibles) is $5600! (We do NOT have a waterfront home!) Home values have increased dramatically since Ivan (less supply, more demand), so consequently our property taxes have increased proportionally.
Unfortunately, businesses are facing the same challenges (higher insurance, higher building costs), so they cannot afford to increase salaries for their employees. Pensacola has historically been known for having low wages, but it has also historically been known for having a low cost of living. That's just not the case anymore. And until things change, lifelong residents like me will have to consider whether or not we can afford to live here anymore.
David | Myrtle Grove, FL