Great video Paul once again! Next year we may see many more condos on the market as those people can’t afford the huge assessments to bring the buildings up to safe standards.
Now, all the 85 year old retirees walk away from increasing state taxes, fees, HOA increasing fees - etc. I certainly hope they have very strong durable appliance boxes and space left under the freeway!?!?
Condos are out of control. Last year we were priced out of our condo in Boynton Beach. Condo insurance and repairs on older condos are out of control. Our condo fees tripled in in 4 years, same with extra repairs and general condo insurance. We moved to Europe for half the cost, no litigation here.
I hope you're content with the move, wherever you may be. Are you still breathing a sigh of relief ? It isn't just one thing though, is it ? Your health insurance will be much more affordable now, but things like food, social atmosphere, access to everywhere and anything, overall personal safety, the list goes on .... Have you had any success in persuading friends to join you ?
@@lorraineperron4840 I relocated to China several years ago (after Trump elected) as I no longer had faith or belief in America. Now have permanent residence status. Best move I could have made. Life is better when you leave America.
Absolutely insane that only 10-20% of these condos have done their inspections. It just shows how poorly managed these condos are and their owners would rather risk DEATH than to pay for maintenance.
Thx. I mean I am a Realtor and the purpose of this channel is to educate people about living in my area and hopefully using me to buy or sell a home for them. I dont make a living talking on camera 😂
Food for thought , how can we trust these engineers what they are saying? New roof siding is a no brainer, we have seen so much corruption in these companies . Not to mention all the developers swarming to Florida . Has anyone researched the engineering companies they are hiring? Just wondering
Keep in mind that engineers can be held criminally responsible and also sued in civil court if a building they sign off on has a failure that leads to death or injury. When you use your engineering stamp you open yourself up to significant liability. So it is understandable in that environment engineers will be overly cautious. Engineers will forever be more concerned about their freedom and career than the budget needed to fix these aging buildings and I don't blame them. We see this in medicine too where doctors practice very expensive "defensive" medicine to protect themselves from lawsuits by ordering a battery of test that are often unnecessary but do have value in a courtroom setting in the event they get sued.
@@Lorieann-p8j Who knows best? Engineers told the Surfside Condo board the building need a lot of work & repairs. The board ignored it & didn’t tell residents & later it collapsed.
It's up to the HOAs to hire whatever structural/environmental licensed engineering firm THEY want. THEY have to take responsibility for THEIR decisions.
In a sane world the first thing a perspective condo owner would look at is the reserve funds and overall financial health of the building and HOA. These older buildings built in the 70's or 80's should have tens of millions in reserves had they only invested in an index with that money set aside for longterm repairs.
These poorly managed HOA’S did this to themselves by deferring maintenance for all those years. Condo market is crashing in Florida between the insurance, assessments, rising HOA’S!
In general, it was not poorly managed HOAs. Residents are the ones who vote on the budget and they skimped significantly on repairs and reserves. Remember, the HOA is simply following the wishes of the unit owners.
Oh you're absolutely allowed to leave your own opinions but this person was commenting on realtors being criminals and how we swindle people out of money and he can piss off and don't ever come back to my channel. I allow all types of comments except from morons who want to say realtors or thieves and pray on people from the Northeast.
So many people bought "the illusion of permanence" that goes with a high-rise building. A salesman or saleswoman simply confirms what we want to believe. If we're "in the market," we've already told him or her what we want to believe.
Why 1994? Developers know the costs to come “up to code” will be too high. Fire sale followed by the Great Knock Down. Up go luxury highly profitable developments. Florida property tax revenues sore, and it becomes a state for the wealthy. Good? Bad? For the reader to judge.
Florida beach side is already only for the rich. Someone forgot to remind them that for totally unknown reasons, in nyc we have sound building over 100yrs old. We didnt build on the cheap. 😅
These condo's were short sighted and had the wrong priorities. I noticed the Surf Side building that collapsed had a beautifully remodeled common area.. they found money for that but not the foundation that was falling apart.
Climate change and rising sea levels will make properties in low lying areas and coastal areas impossible to insure. Banks will be reluctant to give a mortgage for 15 or 30 years because the property may be under water. Selling properties to average buyers will become impossible in the future as banks and mortgage companies stop making loans for these properties. Coastal areas are a high risk for insurance and extreme weather like hurricanes. People will have to self insure and take the risk of loss. Condo associations are losing their insurance and if they find a new higher cost policy they will be passing on the higher costs to association members. Flooded cars from hurricanes fill the salvage lots. Insurance companies will raise rates and pass on the costs and risks to policy holders next year. Coastal properties will be confined to wealthy individuals that can buy properties with cash and self insure for losses from hurricanes or rising sea levels.
Condos that do not comply with regulations and are not up to code are basically not insured. The insurer can deny any claim, and banks can not give loans or mortgages for that condo building.
So many associations put off maintenance to keep costs down, kicking the can down the road. Maintenance must be paid for, sooner or later. Time to sell, or write the check, is rapidly approaching.
I wonder if this applies to rental properties to? Like for instance, about a year ago before I purchased a home I was living in a corporate owned rental building. The place was in disrepair to begin with - like rusting fire doors, holes in the stairs, groaning elevators, and bits of stucco flaking off the facade. But a little before I left I started to notice kind of a rapid deterioration - like to the point where you'd look up and notice a large chunk of concrete missing from along the top of the buildings. It was the sort of place where you did not want to get on the wrong side of the landlord or get in the way of the maintenance staff, so I never brought it up - instead I just moved. But in hindsight it makes me wonder.
@@LJ-jq8og But it wasn't a condo complex. 7 floors and built in 1993 - also residential yes, but the entire property was owned by some corporation up in Tallahassee.
@@PalmBeachesPaul I wanted to when I lived there but the county and state no longer allow anonymous complaints and I wasn't comfortable putting my name on record. I'm still a little hesitant to be honest as they've been known to "bomb" people's credit by dumping bills for "damages discovered after the fact" months after people move out straight into collections. The management over there could be very vindictive when they wanted to be and they had their ways of bending things around in passive retaliation.
When interest rates go back down things will change again. I bought several nice condos in Tampa after the 2008 crash. Sold them before another next crash, lol. Maybe I'll buy some more someday if they get that cheap again. But after watching this, maybe not, lol. Thanks for the info!
Interest rates are not likely to go down more than 1% for a very long time. Where we are now is a fairly normal level if you look back over several decades.
Haha, no, "paradise" is NOT beautiful, with all these high-density ugly condo buildings around, lol. I'd rather freeze my ass off in the Midwest, than moving to "paradise".
How Long does 30 years Ago Steel Reenforced Concrete last before Steel rebar grows and Causes Concrete to Spalling OFF.. I doubt it can Go More that 60 years.
Florida is the worst state to have huge high rise buildings, it's basically just a Sand Bar sticking out into the Gulf of Mexico. I'd like to see maps of Florida's global positioning over the centuries to see how much or if it has moved.
Paul, I hate to be a negative ned, but Florida is headed for a real estate disaster-I don't see any way around an almost total collapse of RE. Between the inspections and the awful HO insurance prices, plus the ever increasing taxes and fees, people like me on a fixed income are now priced out of the homes we own. With interest rates still hanging on the high side the folks wanting to relocate to FL simply have been priced out. Not sure where this ends but the trip there may be a bumpy one...I always enjoy your videos from way over here on the west side...
@@MexicoBeachFloridaLiving you may be right I'm going through one of the slowest periods I ever gone through in real estate. And with everything that I'm seeing it's getting me very nervous
As of right now they're not doing anything. DeSantis was trying to see if they would have a special session but most of them shut it down so we won't know until they go back to work after the first of the year
That's above my pay grade. I don't know what they would do honestly this is kind of a bad situation no matter which side you sit on. Lots of the older unit owners probably did vote no when they should've voted yes for repairs but then the state of Florida also slapped this new law together very quickly Without thinking about the consequences of how it would affect a lot of people on fixed income or anybody who can't come up with a huge amount of cash quickly.
@@PalmBeachesPaulI suggest the State of Florida pays for half of the cost of studies they mandate. [assuming 25,000 condo buildings at $25,000 each is a $625,000,000 investment] Offer low interest rate loans (3% interest) on Condo Association Related Payments for residents (up to $50,000). Track the money into the Condo on State loans. [capped at 250,000 residents, with max loan of $50,000, this requires $12.5B] Then use Eminent Domain to buy buildings, when residents agree, and convert for public use. If the State wants to sell to a developer later on, they can. Eminent Domain gives all Condos a straightforward and market priced exit option, now. [$5B in year 1 budget] Florida should also boost its investment in Apprenticeship Training Salaries for Residents of Florida who want to learn construction trades. A bigger trade focused labor force in Florida will help drive cost down. ($200M first year budget) The State of Florida collects $117B in Annual Tax Income, this project comes in at under $20B.
@@MatiasWawro-on7dvNope! This financial debacle is due to the condo owners not taking responsibility for repairs on THEIR property, and unless the condo iwners want to pay for my house repairs, no go!! The taxpayers of FL should not be forced to subsidize the deadbeats. Time for them to move out or pay up.
Seems to me that this is a major disaster & the State of Florida isn’t even attempting to work & help these condo owners. Easy to issue orders & not offer any monetary help. On top of that, probably most are seniors.
Who should help? The Florida State with other tax payers money? A lot of building owners/ condo owners haven't done the necessary maintenens of the buildings , so now they are stock with it. Why is it, that every time someting happens, then everybody shall help and pay? I agre that it is a horrible situation that many people are in and they properly couldn't know, at the time they bought the condo.
I did my research on this New Legislation, DeSantis hates these New Laws.The Florida Legislature did i not do there required diligence when they wrote this Laws. They did not consult with experts . and did not do any studies prior to these New Laws They wrote this Law strictly for political reasons. in reaction to a rare extreme event at he Champlain Towers....One issue that is extremely stupid is that these older building not just be repairs to the original designed, Which is still perfectly safe, No they now require them to be improved to 2024 building codes. A 1970 Condo that has been perfectly safe for over 50 years now required to be upgraded to 2024 building standard, That is insanity ...That is ignorant ...You would be better off to just demolish a 1970 structure then to upgrade to new modern building codes. ...These Law were not properly constructed and were was no comprehensive investigation and study . This was an emotional reaction to a political situation. The Champlain Towers should have been condemned by the city purity to this . The building was inspected prior to the event,
Is there a correlation between sex workers retiring into the real estate industry?? I've heard this rumor. Think about it. All the skills that you learn in the real estate business. 1)You have to get customers in and out of the house as quickly as possible. 2)You have to get as much money out of the client as quickly as possible. 3) You have to put the next client in the house as quickly as possible!!
The stone in the cement mix has to be granite it does not take water.Rebars stainless steel ,or Galvanise Steel .The piles that go underground All Stainless Steel, the sand and rock that is mixed in the Cement as to be Ganite rock pebells.
A knee jerk reaction by DeSantis to pacify the Surfside Collapse. We still don't know what really happened to the Champagne Towers building in my opinion because I would go into it once every few weeks, I can tell you the building from the lobby and hallways look like just any other building on the inside, well maintained. Maybe they should look into the new building next door with blasting and construction going up. I frequent these building on the beach and own a few condos and I can tell you when you have a group of homeowners in charge, know one is every happy and wants to spend everyone else's money.
@ Nope I’m in Chicago and our houses don’t flood to the point of destruction. Also I don’t pay special assessments, HOAS and outrageous homeowners insurance and you can buy a 3-bedroom house for $250,000 or less.
I am a licensed civil engineer. Many engineers are refusing to conduct these inspections because of the liability if something is missed.
Great video Paul once again! Next year we may see many more condos on the market as those people can’t afford the huge assessments to bring the buildings up to safe standards.
Now, all the 85 year old retirees walk away from increasing state taxes, fees, HOA increasing fees - etc. I certainly hope they have very strong durable appliance boxes and space left under the freeway!?!?
I sold in October 2023 and left Florida so glad I’m not stuck there.
Condos are out of control. Last year we were priced out of our condo in Boynton Beach. Condo insurance and repairs on older condos are out of control. Our condo fees tripled in in 4 years, same with extra repairs and general condo insurance. We moved to Europe for half the cost, no litigation here.
I hope you're content with the move, wherever you may be. Are you still breathing a sigh of relief ? It isn't just one thing though, is it ? Your health insurance will be much more affordable now, but things like food, social atmosphere, access to everywhere and anything, overall personal safety, the list goes on .... Have you had any success in persuading friends to join you ?
@@lorraineperron4840 I relocated to China several years ago (after Trump elected) as I no longer had faith or belief in America. Now have permanent residence status. Best move I could have made. Life is better when you leave America.
Valuable info and perspectives, thanks!
Thank you
Absolutely insane that only 10-20% of these condos have done their inspections. It just shows how poorly managed these condos are and their owners would rather risk DEATH than to pay for maintenance.
@Andy_puglife Well yeah. Many are older and would absolutely take that risk vs homelessness.
This is the best explanation of all I’ve listened to
Great channel, informative and entertaining at the same time and I'm ok with the little realtor plug now and then, keep up the great work!
Thx. I mean I am a Realtor and the purpose of this channel is to educate people about living in my area and hopefully using me to buy or sell a home for them. I dont make a living talking on camera 😂
Do not forget that condo insurance companies can demand ancopt of those reports before they renew a condo building insurance policy.
Food for thought , how can we trust these engineers what they are saying? New roof siding is a no brainer, we have seen so much corruption in these companies . Not to mention all the developers swarming to Florida . Has anyone researched the engineering companies they are hiring? Just wondering
Keep in mind that engineers can be held criminally responsible and also sued in civil court if a building they sign off on has a failure that leads to death or injury. When you use your engineering stamp you open yourself up to significant liability. So it is understandable in that environment engineers will be overly cautious. Engineers will forever be more concerned about their freedom and career than the budget needed to fix these aging buildings and I don't blame them. We see this in medicine too where doctors practice very expensive "defensive" medicine to protect themselves from lawsuits by ordering a battery of test that are often unnecessary but do have value in a courtroom setting in the event they get sued.
@@jonathantaylor6926you can’t blame the engineers for who or where they get prices
Licenced engineers can lose their ticket if they screw up.
@@Lorieann-p8j Who knows best? Engineers told the Surfside Condo board the building need a lot of work & repairs. The board ignored it & didn’t tell residents & later it collapsed.
It's up to the HOAs to hire whatever structural/environmental licensed engineering firm THEY want. THEY have to take responsibility for THEIR decisions.
I appreciate your information..."buyer beware" going forward.
Everything in the world is temporary, buildings, cities, people, animals, fish and the world.
If the condos opt not to do the inspections potential buyers will not be able to get a loan.
Yikes! Great video. Very informative
It sucks to basically lose your investment, but be thankful we live in a country where we have (and enforce) building codes.
In a sane world the first thing a perspective condo owner would look at is the reserve funds and overall financial health of the building and HOA. These older buildings built in the 70's or 80's should have tens of millions in reserves had they only invested in an index with that money set aside for longterm repairs.
Be thankful you live in GOP territory.
These poorly managed HOA’S did this to themselves by deferring maintenance for all those years. Condo market is crashing in Florida between the insurance, assessments, rising HOA’S!
In general, it was not poorly managed HOAs. Residents are the ones who vote on the budget and they skimped significantly on repairs and reserves. Remember, the HOA is simply following the wishes of the unit owners.
@@craftsmanctfl3493 good point
Very informative. Thanks for this video. 👍
Big win for the developers
completing the inspection is in everybody’s best interest…👍
The appointments collapsed due to the lack of regulations.. There is a price to pay for small government. ???????
It’s only paradise between hurricanes and the few months it’s not too hot
@@PalmBeachesPaul Are we not entitled to our opinions on your channel?
Oh you're absolutely allowed to leave your own opinions but this person was commenting on realtors being criminals and how we swindle people out of money and he can piss off and don't ever come back to my channel. I allow all types of comments except from morons who want to say realtors or thieves and pray on people from the Northeast.
With the results from the required testing, a new standard will have to be set for Reserves.
I live on that stretch of A1A, one of the best kept secrets of the area. Great location yet still relatively quite
@@user-id8ng9eq9h Fernandina or Amelia island?
So many people bought "the illusion of permanence" that goes with a high-rise building. A salesman or saleswoman simply confirms what we want to believe. If we're "in the market," we've already told him or her what we want to believe.
If they don't inspect, the insurance companies will not insure. No insurance, no mortgages. Now you need a cash buyer.
Facts!!!
And if you were a cash buyer, an uninspected, uninsured building would be the last place .....
Why 1994? Developers know the costs to come “up to code” will be too high. Fire sale followed by the Great Knock Down. Up go luxury highly profitable developments. Florida property tax revenues sore, and it becomes a state for the wealthy.
Good? Bad? For the reader to judge.
Florida beach side is already only for the rich. Someone forgot to remind them that for totally unknown reasons, in nyc we have sound building over 100yrs old. We didnt build on the cheap. 😅
These condo's were short sighted and had the wrong priorities. I noticed the Surf Side building that collapsed had a beautifully remodeled common area.. they found money for that but not the foundation that was falling apart.
Yes, & the condo board had seen the inspection & ignored the engineering recommendations. Then didn’t give the report to residents.
Climate change and rising sea levels will make properties in low lying areas and coastal areas impossible to insure. Banks will be reluctant to give a mortgage for 15 or 30 years because the property may be under water. Selling properties to average buyers will become impossible in the future as banks and mortgage companies stop making loans for these properties. Coastal areas are a high risk for insurance and extreme weather like hurricanes. People will have to self insure and take the risk of loss. Condo associations are losing their insurance and if they find a new higher cost policy they will be passing on the higher costs to association members. Flooded cars from hurricanes fill the salvage lots. Insurance companies will raise rates and pass on the costs and risks to policy holders next year. Coastal properties will be confined to wealthy individuals that can buy properties with cash and self insure for losses from hurricanes or rising sea levels.
Condos that do not comply with regulations and are not up to code are basically not insured. The insurer can deny any claim, and banks can not give loans or mortgages for that condo building.
So many associations put off maintenance to keep costs down, kicking the can down the road. Maintenance must be paid for, sooner or later. Time to sell, or write the check, is rapidly approaching.
Yeah, the 70s to 3 years ago was the sweet spot for cheap condo expenses. The retirees wanted nothing to do with improvements or repairs.
Look if the residents dont approve or dont like it they vote the board out....simple
I wonder if this applies to rental properties to? Like for instance, about a year ago before I purchased a home I was living in a corporate owned rental building. The place was in disrepair to begin with - like rusting fire doors, holes in the stairs, groaning elevators, and bits of stucco flaking off the facade. But a little before I left I started to notice kind of a rapid deterioration - like to the point where you'd look up and notice a large chunk of concrete missing from along the top of the buildings. It was the sort of place where you did not want to get on the wrong side of the landlord or get in the way of the maintenance staff, so I never brought it up - instead I just moved. But in hindsight it makes me wonder.
@@LJ-jq8og But it wasn't a condo complex. 7 floors and built in 1993 - also residential yes, but the entire property was owned by some corporation up in Tallahassee.
Is it true that Surfside condos used saltwater to mix the concrete.
You should report that building to to the building inspector of whatever city it's located in that's not acceptable
@@PalmBeachesPaul I wanted to when I lived there but the county and state no longer allow anonymous complaints and I wasn't comfortable putting my name on record. I'm still a little hesitant to be honest as they've been known to "bomb" people's credit by dumping bills for "damages discovered after the fact" months after people move out straight into collections. The management over there could be very vindictive when they wanted to be and they had their ways of bending things around in passive retaliation.
When interest rates go back down things will change again. I bought several nice condos in Tampa after the 2008 crash. Sold them before another next crash, lol. Maybe I'll buy some more someday if they get that cheap again. But after watching this, maybe not, lol. Thanks for the info!
Interest rates are not likely to go down more than 1% for a very long time. Where we are now is a fairly normal level if you look back over several decades.
I’m doubtful the requirements will actually be enforced, thus nullifying the safety purposes of the new condo laws.
Wow. You are so smart sir
Well, it’s really difficult to see the rich have to cough up maybe 100 K for these improvements they finally get bit in the ass
Who is going to jail if the inspections aren't done? All the individual owners of the condos or members of the board?
I assume board members if they dont comply with the law but I'm not a lawyer so I dont really know
Budgets are key, it's not all profit.
Haha, no, "paradise" is NOT beautiful, with all these high-density ugly condo buildings around, lol. I'd rather freeze my ass off in the Midwest, than moving to "paradise".
The owners of the condos demanded their elected members of HOA not increase their maintenance fees. Grow up.
How Long does 30 years Ago Steel Reenforced Concrete last before Steel rebar grows and Causes Concrete to Spalling OFF.. I doubt it can Go More that 60 years.
Look at the quality of modern materials. Then consider poor cheap rebar thay never gets seen. Spalling is everywhere now with little concrete overlay
Florida is the worst state to have huge high rise buildings, it's basically just a Sand Bar sticking out into the Gulf of Mexico. I'd like to see maps of Florida's global positioning over the centuries to see how much or if it has moved.
Champlain Towers, to be exact.
I think there will be extensions to this law like the fire sprinkler elss deadlines and all the upset that caused.
Forgot the opt out in May 2017 at the time.
Paul, I hate to be a negative ned, but Florida is headed for a real estate disaster-I don't see any way around an almost total collapse of RE. Between the inspections and the awful HO insurance prices, plus the ever increasing taxes and fees, people like me on a fixed income are now priced out of the homes we own. With interest rates still hanging on the high side the folks wanting to relocate to FL simply have been priced out. Not sure where this ends but the trip there may be a bumpy one...I always enjoy your videos from way over here on the west side...
@@MexicoBeachFloridaLiving you may be right I'm going through one of the slowest periods I ever gone through in real estate. And with everything that I'm seeing it's getting me very nervous
Legislature will make a last minute change - just too many people impacted by this!
They absolutely will do nothing significant. That would take billions of dollars, which would require tax increases. They’ll never do that. Trust me.
The engineers are making the decisions that the buildings uninhabitable.
People need to get second and third opinions.
The can but or cost thousands of dollars
Desantis is going to save you from your cheap mis manageing neighbors
I thought the SIRS had to be done for all condos, not just for older condos (25/30 yrs)?
I will look into that, I might be wrong, thansk for the questioon and watching.
@ thanks. Look forward to your reply
What should the Florida Legislature do?
As of right now they're not doing anything. DeSantis was trying to see if they would have a special session but most of them shut it down so we won't know until they go back to work after the first of the year
What do you suggest the Florida Legislature pass?
That's above my pay grade. I don't know what they would do honestly this is kind of a bad situation no matter which side you sit on. Lots of the older unit owners probably did vote no when they should've voted yes for repairs but then the state of Florida also slapped this new law together very quickly Without thinking about the consequences of how it would affect a lot of people on fixed income or anybody who can't come up with a huge amount of cash quickly.
@@PalmBeachesPaulI suggest the State of Florida pays for half of the cost of studies they mandate.
[assuming 25,000 condo buildings at $25,000 each is a $625,000,000 investment]
Offer low interest rate loans (3% interest) on Condo Association Related Payments for residents (up to $50,000). Track the money into the Condo on State loans.
[capped at 250,000 residents, with max loan of $50,000, this requires $12.5B]
Then use Eminent Domain to buy buildings, when residents agree, and convert for public use. If the State wants to sell to a developer later on, they can. Eminent Domain gives all Condos a straightforward and market priced exit option, now.
[$5B in year 1 budget]
Florida should also boost its investment in Apprenticeship Training Salaries for Residents of Florida who want to learn construction trades. A bigger trade focused labor force in Florida will help drive cost down.
($200M first year budget)
The State of Florida collects $117B in Annual Tax Income, this project comes in at under $20B.
@@MatiasWawro-on7dvNope! This financial debacle is due to the condo owners not taking responsibility for repairs on THEIR property, and unless the condo iwners want to pay for my house repairs, no go!! The taxpayers of FL should not be forced to subsidize the deadbeats. Time for them to move out or pay up.
is it actually POSSIBLE to bring a 30 year old building up to code or are we just playing word games.
IMO no.
Seems to me that this is a major disaster & the State of Florida isn’t even attempting to work & help these condo owners. Easy to issue orders & not offer any monetary help. On top of that, probably most are seniors.
Who should help? The Florida State with other tax payers money? A lot of building owners/ condo owners haven't done the necessary maintenens of the buildings , so now they are stock with it. Why is it, that every time someting happens, then everybody shall help and pay? I agre that it is a horrible situation that many people are in and they properly couldn't know, at the time they bought the condo.
I did my research on this New Legislation, DeSantis hates these New Laws.The Florida Legislature did i not do there required diligence when they wrote this Laws. They did not consult with experts . and did not do any studies prior to these New Laws They wrote this Law strictly for political reasons. in reaction to a rare extreme event at he Champlain Towers....One issue that is extremely stupid is that these older building not just be repairs to the original designed, Which is still perfectly safe, No they now require them to be improved to 2024 building codes. A 1970 Condo that has been perfectly safe for over 50 years now required to be upgraded to 2024 building standard, That is insanity ...That is ignorant ...You would be better off to just demolish a 1970 structure then to upgrade to new modern building codes. ...These Law were not properly constructed and were was no comprehensive investigation and study . This was an emotional reaction to a political situation. The Champlain Towers should have been condemned by the city purity to this . The building was inspected prior to the event,
Greed not politics
Why would anyone buy a condo now 😂
Is there a correlation between sex workers retiring into the real estate industry?? I've heard this rumor. Think about it. All the skills that you learn in the real estate business. 1)You have to get customers in and out of the house as quickly as possible. 2)You have to get as much money out of the client as quickly as possible. 3) You have to put the next client in the house as quickly as possible!!
The stone in the cement mix has to be granite it does not take water.Rebars stainless steel ,or Galvanise Steel .The
piles that go underground All
Stainless Steel, the sand and rock that
is mixed in the Cement as to be Ganite rock pebells.
Thank you
Supply and demand > greed and more greed!
Reality finally catching up with a bunch of people who thought they'd figured out a cheat code
It's trying to get insurance that that is absolutely anywhere near a reasonably priced😅😅😅😅
The Florida legislature are pros in putting do gooder requirements on people without having to budget or pay for good ideas.
The building owners should be charged
No Comment 🙂
as my music hero Getty Lee of the band Rush once said " if you decide not to choose you have still made a choice" 😉
Impeach DeSantis and make them return the millions he has stolen. Totally and completely on his knees for the insurance industry. We're all screwed.
@@r.c.rutledge5920 vote him out!
A knee jerk reaction by DeSantis to pacify the Surfside Collapse. We still don't know what really happened to the Champagne Towers building in my opinion because I would go into it once every few weeks, I can tell you the building from the lobby and hallways look like just any other building on the inside, well maintained. Maybe they should look into the new building next door with blasting and construction going up. I frequent these building on the beach and own a few condos and I can tell you when you have a group of homeowners in charge, know one is every happy and wants to spend everyone else's money.
@@HialeahRefugee “israeli demolition squad”
Im tired of people crying about climate change its nothing new it started at the end of the ice no cars no smoke stacks in re guards to a comment
Paradise or HELL lol
Florida is a money pit. Just keep pouring your money in. Pay and stop complaining or just leave. But don’t stay and complain. 😢
Same could be said for lots of other places like New York Chicago California
@ Nope I’m in Chicago and our houses don’t flood to the point of destruction. Also I don’t pay special assessments, HOAS and outrageous homeowners insurance and you can buy a 3-bedroom house for $250,000 or less.
@@PalmBeachesPaulNew Yorker here. Nope.
My friend has to cough up $150,000 for reserve fund crazy stuff
Dang 😮
Heavy chemtrailing.
DeSantis , we need federal assistance.
They sent all the money overseas, they broke 😎
That would be socialism
why should we all pay the welfare check?
So some poor SOB living in a single family home in Wisconsin is supposed to subsidize the repair of your condo thousands of miles away? Why?
I thought the Republicans and MAGA crowd hated the Feds? Why ask for a handout...your credo should be "bootstrap it", right?