The Condo Collapse Has Started! (Florida Politicians Race for Answers!) - Video
In this 11 September 2024 video, host Yak Motley, a real estate agent in the area, talks about the negative impacts to condo unit owners and highlights what the communities in Florida will be facing with structure repairs, building demolitions and replacement construction projects. What is happening currently in the Florida condo market will take years to correct and recover from as residents are being forced out of the condo units they own by HOAs and owners of the overall condo properties.
From an ABCNews report…
Just weeks after Redfin reported Tampa saw the highest jump in condo HOA fees year over year, Governor Ron Desantis held a roundtable discussion on 9 September 2024 to look at possible solutions to help ease the pressure on condo owners.
“The legislature engaged in a good-faith effort. But it sounds, and this is feedback we’ve been receiving now for many months, it sounds like there are a lot of condo unit owners who are just not in the financial position to pay large assessments on such short deadlines,” Governor DeSantis said Monday.
“We’re talking about tens of thousands, probably hundreds of thousands of Floridians who are impacted by this, that are left without options,” Former Florida Senator Jeff Brandes said. “It’s a lot of heartbreak, and it’s bankruptcies and it’s foreclosures.”
https://youtu.be/rOzIeYjZOlQ
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