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Yes, no more dumping the maintenance bill on the next smuck, or worse letting it slide till the condo collapses. Well run condos will be OK, those that skimped will be hit and rightly so.

You look spooky man!

Please don’t use ghetto slang (po po). It has permeated society, along with rap. Please stop using it. White people and POC are sick of trash. Let’s bring class back into fashion.

Somewhere in the US you can by a single family home on at least a ¼ acre of land with a water view/water feature near by. For Pete's sake folks, get the heck out of Florida. Weather might be a trade off, however hurricanes require hefty insurance premiums and leave an extensive amount of cleanup.

There r tons of condos in Century village in Broward and Palm Beach counties in Florida which are between $50k -100k. Three story buildings so they r exempt from the new inspection laws and info and new association laws requiring large $ reserves. Ten years ago the market was flooded w those same units, priced between the high $3k's and about $10-12k. with monthly condo fee of $150. Bevause all the original owners passed and passing away and the teo location s were becoing ghostvollages unoccupied because could not find enough over 55 yr old buyers. They had to change laws to allow people under 55 to own and live there But I think the prices have soared now(but they r still comparatively cheap)because they are now very financially desireable. Compared to highrise condos w exorbitant condo fees and assessments

There r tons of condos in Century village in Broward and Palm Beach counties in Florida which are between $50k -100k. Three story buildings so they r exempt from the new inspection laws and info and new association laws requiring large $ reserves. Ten years ago the market was flooded w those same units, priced between the high $3k's and about $10-12k. with monthly condo fee of $150. Bevause all the original owners passed and passing away and the teo location s were becoing ghostvollages unoccupied because could not find enough over 55 yr old buyers. They had to change laws to allow people under 55 to own and live there But I think the prices have soared now(but they r still comparatively cheap)because they are now very financially desireable. Compared to highrise condos w exorbitant condo fees and assessments

Shouldn't be long before all of Florida is covered in houses and concrete.

Great update Mike!😎👍

HOAs should be avoided since controlling power hungry greedy people will control your money. It is almost unavoidable in los Angeles and Southern CA

Good info Mike!

I'd like to hear about your experiences with 55-plus communities, good or bad!

It will be no next generation. People are waking up and states will be bankrupt.

Thanks, a lot of information here.

They will get cheaper. Waita yearor so

I'll bragg now 700 rent land , no property taxes, home insurance 90 a month. No hoa, 1200 sf, 1 hr from pacific ocean. 1 hr from sf. No place in humid drowning FL can say that. So you're grotesque exhibition about mobile home owners shows what you are. Probably anti American, pro rapist, pro con. Homophobic sad people. I pity you

With the ice caps melting, Florida is destined to going underwater.

No one will be buying HOAs or Condos. Reality private equity will buy those condos that no one will be able to afford. So much like Trump casinos that's a bad bet.

Well done Mike!

Great info and video Mike!

i have never understood owning a condo. too many units are owned by wannabe landlords who are clueless and under capitalized. and the association consists of too many sheepish & incompetent people.

They're going to have to look at the actual cost of living in these buildings.

Hoas are the worst thing to happen to home ownership. I have owned a few homes in different areas of the country. KCMO phionix Arizona, Las Vegas Nevada. Hoas are horrible everywhere . The people who run them act like the cops. Actually worse never helpful always rude and abrasive.

This vid got really boring at the 12 min mark. First 12 min was helpful though

25 years old Condo (apartment with services, lift, of street parking) in Germany. Our monthly HOA is 300euro. This includes winter heating and water usage. common area cleaning, lighting, lift operation, 15 year painting. Aannual window cleaning, biweekly lawn and plant care, sink fund for maintenance outside of schedule. I can't begin to imagine why HOA in USA are so high, but it seems pools and basement car parks have high ongoing costs.

I'm sorry, but who builds a house with the plan to sell in a few years?

Not to mention that most of those beach condos are built on barrier islands, or by a less fancy name, sand bars. Sand bars are not actually real estate, they’re a constantly changing part of the shoreline system, and may look solid this year, but next year the entire thing gets sucked out to sea and moved 40 miles down the coast. These islands cannot sustain huge concrete buildings for the long term. To the ocean, that condo is just another rock for it to erode.

NEVER buy a house with an HOA!

The simple consequence will be a change in ownership. Richer people will come and buy as many as they can and fees wont matter for them. The sad thing is that current owners will have to sell and leave nothing behind. There are thousands, millions of rich people in the world who prays for becoming property owners in Florida.

😂😂😂 Flori DUH!!!

the only option is demolition. the sharks see it as an opportunity. they will repurpose the land. o.k.

leave Florida. move to any great lake state. clean fresh water. reasonable cost of living. just a couple months of snow. no idiot governor like DeSantis.

Hi, I had to comment on this video because I do live in Florida and can't wait to get out soon!! You're right about a lot of the information you're stating. The 3 areas you're not hitting hard enough are the property tax, insurance, and the special assessments on the condos, some being as high as $225,000.00 (I'm not joking). If you want specific information, let me know, and I will email all the specifics. Great job on your videos!

I'm surprised they couldn't paint the concrete with a specific paint that would resist salt in the air? I am not a construction person at all It was just a thought

We know how to design for long life but it costs much more. Initially financiers and original builders strive to build for the lowest cost techniques and materials that will last for the original mortgage length. In all these cases it is the permeability of cheap concrete and the steel rebar that corrodes that can be improved upon. Today for critical structures the GOVT with its deep pockets builds with fortified concrete that is air and water proof and with fiberglass and galvanized rebar that will not corrode because moisture and salt oozed into the concrete and rusted the reinforcement. Remember the old " AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE " ..... If in the original design the more expensive build techniques and materials were required by code, we would not have the structural deterioration. Yes the original costs would be more but 30 years later we would not have to demolish the building. How can we convince developers to spend a lot more money up front to save the buildings from degrading years in the future when they are long gone? Only Govt required Code can accomplish that but not with the developers padding the wallets of politicians who approve of the cheapest build laws.

This is why taking away government regulations is bad. Greedy rich people will do anything to screw the rest of us over

Pushing snow is good exercise. It on ly lasts dec to February. Flouride unbearable heat lasts may to October.. why do you like florida??

Looks like some of these Florida condos have negative value. This will be nasty.

It's a disaster don't buy a rise in Florida. Cement decays about every 35 years.i meant don't buy a high rise condo by ocean. Great video.

these buildings need to sell to a developer and cut their losses

If you’re a speculator or a flipper, even you have to be careful in offering to buy a foreclosure condo in a poorly maintained condo complex.

Developers are going to pay pennies and owners will be happy to sell.

And this folks is how you force demo and eviction through regulation to make room for new and more expensive development and income base. Barring legitimate structural issues from some of the dumb developing on beaches that went on. Sandy soil is all over Fl but to build right on the beach is very risky. You have to wonder how much over regulation there is with this vs what is warranted to keep buildings safe. Take away is Condo owning comes at risk depending on thr COA, and buying a SFR 20 mins inland is a much better option.

Folks - don't believe all these You Tube guys.. There are no fire sales. prices are higher than ever. Here in North East Florida, homes AND condo's are on the market no more than 30 days. Check out Zillow before ya'll believe these guys. Our home purchased in 2019 for $900,000 is worth 3 million. My son's condo, Purchased in 2020 for $750,000, he just sold for 1.8 million, and he purchased a home. No fire sales. These guys are just making $ off You tube.

Seniors in condos regard their reserve balance as they do the national debt: I will be gone when it hits the fan.

Condo’s are a worse purchase than a boat.

Great video brother keep putting more out

The propaganda war between blue states and red states have begun.

Just retire in place.

Excellent info about property taxes! I did not know it gets reassesed after each sale.

Now is the time to buy.