I have been saying it is inevitable that Florida real estate will collapse when people realize the climate crisis is real. And that collapse will spread. From Shouting FIRE On A Warming Planet,

Florida real estate is an example. It is already worthless because it will be underwater relatively soon. And one day SOMETHING will happen and everyone will decide it’s time to get out. Sell! But they’ll all decide to sell at once and the buyers will have seen the same thing. So all the mortgages will fail. All the lenders will fail.

And THAT will trigger a closer look at other climate-devalued real estate, like Phoenix and every other coastal area.

Boom.

Right now hurricane Milton is crossing the Gulf, pointed at Tampa. The Gulf is HOT now, so this storm could be Cat 5 by the time it hits.