CONDOS IN CRISIS Owners Need Emergency Action NOW!

Рет қаралды 14,048

Күн бұрын

Пікірлер: 131

@jonathantaylor6926 Ай бұрын

Legislative action? For what? It's not the government fault condo's did not budget correctly for decades. Why should tax payers that live in single family homes be forced to subsidies condo repairs?

@obbie1osias467 Ай бұрын

See what happens if some Goverment entities have the opinion that too much regulation is bad for businesses? HOA management, like home insurance, is a big business in Florida and they know that the state will bail them out if something like this happens. People of Florida asked for this to happen! That's why I'll never invest on condos, especially, in Miami.

@michaellalanae7228 Ай бұрын

As a condo owner rent a dumpster and remove everything from the condo including wiring , flooring, drywall, trim, leaving behind a shell , then they get nothing as a building owner, they can do nothing about it . 😂that's what my plan is if pushed into a corner by the board or bank .

@markrichards6863 Ай бұрын

No, but the legislature passed the law that put all of the inspections on a very short time frame. They could extend the time, and also enact rules that would help condos build their reserve funds. The news laws were not well structured.

@sebastientoussaint5461 Ай бұрын

@@jonathantaylor6926 so then why is the insurance is all over the board for all?

@jasoncrandall73 Ай бұрын

This state law dumps well maintained & the not so well maintained condos into one bucket. This law was written to bankrupt as many 30+ year old condos as possible. DeSantis is now acting "concerned". 🙄

@buffycat4641 Ай бұрын

Have to wonder how much money was donated to DeSantis and the other Republican members of the Florida legislature by those who would benefit most from the now mandatory inspection and repair laws the Republicans, under DeSantis, passed in 2022? From the companies doing the mandatory inspections, to those making the identified repairs to the developers salivating at the opportunities to buyout the buildings (land) at bargain rate prices there is billions of dollars in profit involved. To me, it sounds like an investigation looking into this legislation is way past due.

@jamesb.armstrong5433 Ай бұрын

@@buffycat4641 I guess you'd rather see more people die in condos not properly maintained. You must be a rocket scientist.......

@toddknode752 Ай бұрын

You are whining about a problem these people created for themselves. Allowing to underfund repair costs really was just subsidizing the cost of living along the coast. These people knew, or should have known, the entire time they were shirking on their required maintenance. They no long have the capability to kick the can down the road. Oh well.

@jackwilson3121 Ай бұрын

This would happen if I did not keep up the repairs on my single family home in Iowa.

@brianmaguire6814 Ай бұрын

This problem is caused by the government inserting itself into a free market. Every time the government interferes in a free market it causes "inefficiencies". Every. Single. Time.

@77jaycube69 Ай бұрын

The genie is out of the battle. The insurance companies now know about the conditions of many of these buildings. Insurance companies aren't going to insure buildings in need of repair.

@rubyannr6898 Ай бұрын

And we all know no insurance, no mortgage.

@adrianlowe4908 Ай бұрын

I thought the Red States wanted smaller government?

@riprob93 Ай бұрын

They're going to take it in the MAGA HOLE!😂

@deanlautermilch9336 Ай бұрын

The death blow was struck and you can't stop the damage. They could move the time required to make fixes and have the budget into a future year but the majority of condos that had problems have been exposed as the inspection time period is coming and an end. Even if they do that these condos will be non warrantable and will be cash only.

@scottprice4813 Ай бұрын

Do what exactly ? Recall all the money that was spent by condo residents that should have been committed to reserve and maintenance funds? Call Trump and other climate deniers and ask them why Florida and the gulf coast are caught in a maelstrom of more severe and frequent storm events ? The Calvary isn’t coming .

@matthewsocal2540 Ай бұрын

These rich pricks are doing this everywhere, now. In Rancho Palos Verdes here in SoCal, they're wanting bailout for building their private communities on a known landslide. No socialism for rich people. They complained about us wanting free food. Now, they want free housing and good delivered when it's stormy outside.

@jackwilson3121 Ай бұрын

Call trump ,he knows more about repairing condos than anyone. LOL

@markrichards6863 Ай бұрын

No, allow for a longer period to complete the inspections and create a system of structured payments. Facilitate low interest loans for people at risk of losing homes, especially seniors.

@gary9080 Ай бұрын

Values have gone up enough to compensate for repair costs.

@michaelmcfeely6588 Ай бұрын

No bailouts.

Ай бұрын

FLA isn’t that the state where one can’t say global warming?? Crazy town.. 😂

@sesi5289 Ай бұрын

They had more than enough time to take action,its not our problem if they buried they had in the sand.They just don't want to pay extra money to do the inspections and repairs.Those condo owner companies don't care about people`s lives since they are not living in those buildings.Lawmakers should punish them for not taking necessary action and don't negotiate on it.PERIOD

@steveg6978 Ай бұрын

no free lunch...pay up red state

@Aaron_R Ай бұрын

It's not an insurance and condo crisis. It just legit costs more money to live there with the hurricanes and flooding. Sunshine isn't free. California has issues with wildfires and earthquakes (and to a lessor extent, volcanos). People don't want to pay the premiums/HOA relative to the risk.

@bbokc6942 Ай бұрын

As the president of a condo association that tried to raise dues for several years to avoid bankruptcy, I can tell you that they will just wait until the next extension and whine and want another I saw my association loose 10k per year do to insurance cost, when the year came we couldn’t afford it and I had to finance it and we were going to be insolvent in 7 months, the unit owners instead of voting to raise the dues, voted to postpone the discussion until a month before we were bankrupt claiming they need time to look at the numbers-the same numbers that they have seen for years and refuse to act upon because it could always be fixed later

@prontsc Ай бұрын

Love it! At 4:00 in, the enclosed balcony is slanting after a rain storm. The garages look level! Everyone crying help!!

@PalmBeachesPaul Ай бұрын

That's crazy I've never seen my camera make it do that before I must've accidentally hit the wrong setting

@josephlugo5707 Ай бұрын

Why should tax payers bail out these cheap people that put off maintaining their property.

@markrichards6863 Ай бұрын

The state legislature of Florida is owned by big real estate developers and big property investors . They call the shots.

@mikem4432 Ай бұрын

A special session for the special assessment.. Florida is so spectacular special.. 😆

@tomellicott5709 Ай бұрын

It’s about time and what about the insurance crisis

@jamIam6548 Ай бұрын

It's all strategic

@McBigFisher Ай бұрын

I listened to that meeting Desantis had in Miami and it sounded like the condo owners wanted to be able to lie by omission so they could pawn their units off on some unsuspecting buyer.

@PalmBeachesPaul Ай бұрын

Wow, I missed that

@BillonBass Ай бұрын

Thankfully our project has planned properly and we are fully funded and in compliance!

@gardeningforfunandlongevit6076 Ай бұрын

The legislature made the rule now they need to fix the p4oblem.

@richardviolet8759 Ай бұрын

I was planning to down size from a 2400 sg ft Townhome in Boca ,, to a 1-2 bedroom 1100 soft Condo in a good location close to the Ocean .Until these New Condo Laws . I had owned a Oceanfront Condo for 11 years ... Due to all the negatives ,,The New Laws and the fact owners have no rights in associations. I would never buy any Condo in Florida ..If I had. older 30 year plus near or on the ocean , I would sell it Now..If I had an Ocean Front Condo in an older building I would try to sell to a developer ...Now ...There is just too many negatives . This situation are a ongoing forever mess filled with stress, and anxiety , unless haves of millions in disposable cash ..Many people will be forced to sell or if possible rent there units . only after the repair are done..I predict the funding as this issue expands will run out .It will be cash only by the owners .

@MrTommyboy68 Ай бұрын

Sorry kids and kidlets, YOUR FELLOW FLORIDIANS voted for Ronnie. Bwahahahahahahahahaha. But look on the bright side, Floridia doesn't have a personal income tax.

@Aaron_R Ай бұрын

This issue was brewing way before Ronnie. Also hurricanes that wreak havoc are not Ronnie's fault. But they cause structural problems on buildings.

@pamelarose7878 Ай бұрын

Having heard from him since the election. I am hurting in Lauderhill😉😉

@jamIam6548 Ай бұрын

What..?

@heimbone1 Ай бұрын

And the condos that are not yet 30 years old have the same crisis to look forward to down the road. Retirees on a fixed income will be in the same boat.

@rubyannr6898 Ай бұрын

Everyone is on a fixed income. Corporations are not handing out cash because we're young.

@prettygirlus9008 Ай бұрын

Isn't everyone on a fixed income.

@rubyannr6898 Ай бұрын

@@Plutogalaxy Based on COLA even.

@dbrew2u Ай бұрын

Florida has a huge Housing unaffordablity crisis period . Even with the State being nearly paved over with Developments . The price for homes/rents is still going up .

@sandspurpatch Ай бұрын

Condos have been a bad idea that look good on paper, but when these units get old? They started in Florida in the 1960s. Dome are that old built in sand and water.

@jerrypolverino6025 Ай бұрын

Florida has the wrong Governor to expect help.

@nicholaswesner8949 Ай бұрын

As a realtor do you have any recommendations how to sell a house that flooded during Ian and Milton?.

@steveg6978 Ай бұрын

GOP the problem...then we want to solve to problem

@Patrick-yh5yd Ай бұрын

Liberals the party of the rich.

@jamesb.armstrong5433 Ай бұрын

Clueless people like you are the problem.

@riprob93 Ай бұрын

Don't worry folks, Rick Scott,Desatis, and the Florida legistlature will savw you.😂😂

@maryhobbs4183 Ай бұрын

I had to walk and short sell during the last major downturn. Now I'm fine although I lost quite a bit. There was a fed short sell program. Sometimes when I watch these stories it shows people acting like this has never happened before. We have had a boom bust country for years. I think its due to greed. Everyone wants to be rich.that is a dead end.

@rubyannr6898 Ай бұрын

$6M 😂 Not the taxpayers problem.

@SpiderC-666 Ай бұрын

Smell like a bank loan to be added to monthly bill.

@brianmaguire6814 Ай бұрын

All they need to do is revoke the law they passed that caused this problem. Then find a better way to address the problem.

@jonathantaylor6926 Ай бұрын

I don't fully disagree. I don't really like the government being involved.. but I guess be prepared for more buildings to collapse.

@toddknode752 Ай бұрын

@@jonathantaylor6926 yep and then the owners will blame someone other than themselves.

@sicsempertyrannis4104 Ай бұрын

Hand rubbing intensifies 😅

@blockheadivthewise7950 Ай бұрын

@@jonathantaylor6926 It is a government over-reaction, which normally makes things worse. How many buildings have collapsed in Florida in the past 50 years?

@brianmaguire6814 Ай бұрын

No one said don't do anything, but making it worse isn't helpful. My guess is this is a massive land grab.

@turboredcart Ай бұрын

The rabbit will pull some money out of a hat

@davemojarra4734 Ай бұрын

The grasshopper and the ant fable proven true again.

@daveassanowicz186 Ай бұрын

Rhonda Santis 😂

@mikem4432 Ай бұрын

Are they going to do it and what?

@PalmBeachesPaul Ай бұрын

As of right now no they're not gonna do it

@jamesccook Ай бұрын

Needs to be fixed, Should not kick the can down the road The law is good, but the implementation may need adjustments but it’s been years

@shanerogers9386 Ай бұрын

The prices are In the biggest speculation and fraud driven bubble in history. They will get zero help. The people who don’t own dude to the flippers and investors need help. They are the ones being extorted to live due to the flipper and investor epidemic

@markrichards6863 Ай бұрын

The bubble has popped. It's a mess down here.

@shanerogers9386 Ай бұрын

@ nothing is the right price unless it is 2019 or less, then subtract for higher interest rates and new levels of insurance. As much harm as possible to every flipper and every investor

@RussellD11 Ай бұрын

Maybe the Taxpayers should just bail them out and repair their building to be safe, as they paid TOO LITTLE over the last decades to enjoy lower cost so the could NEGLECT their buildings.... Only fair right?

@richardviolet8759 Ай бұрын

One of the important issue that is increasing cost, That old building cannot just repair they must also upgrade to current 2024 codes , many buildings are 30 yr plus years had different building codes , If the have to repair the roof now they have to replace the roof to 2024 code they cannot just fix it , That double or triples the price , It use to be they could just repair to to the original building code, which most if the time is very safe , Now with these new insane laws they have to upgrade the older build to That lacks common sense , What about the new 50% rule. If you have a home and it is damage over 50% of the market value due to a flood you must demo the home, You can not longer just repair the damage , Which mean in flood zone you have to elevate the hime like 14 feet . and rebuild at all new codes . In short a fire sale . The is a land grab

@matthewsmith2362 Ай бұрын

I’ve watched the same street in my neighborhood flood 3 times in 3 years. These people get full insurance payout every time. We as in the rest of us paying insurance are subsidizing this mess. Sorry but the pain has to be had somewhere. All the new codes aren’t land grabs Some are most definitely But not all I am joe blow citizen and I thing the street in my neighborhood that floods annually should have to rebuild those houses to not flood next year. I live in Dunedin Florida for context

@johnelectric933 Ай бұрын

You are arguing that people that build or buy in flood zones are victims and need to be protected from their obviously bad choice.

@matthewsocal2540 Ай бұрын

Don't pass laws requiring you to do anything, and you'll not have to do anything. Sadly, GOP passed code enforcement laws, without caring about ramifications of the laws, and now you're dealing with your own troubled chosen path. Just stop asking for socialist help from the rest of us to rebuild the flooded homes you built in flood zones when everyone told you the climate was changing. Suck it up buttercups.

@richardviolet8759 Ай бұрын

@@johnelectric933 NO there is a new Law the Fema 50% rule that if the flood damage exceed 50% of the Value of the home . You cannot repair the home. You have to demolish the home and rebuild a new home on the same lot that is elevated . Some home flooded have never been in a flood before ..Million of homes are in flood zones....Your home can be flooded not even be in a flood zone . From excessive rain. and poor drainage. Even in NYC and big cites homes can flood due to poor storm drainage . Being in a flood zone does not mean your home will be flooded. Miami and NYC areas flood due to over building too much concrete.. Many of the homes in the last Hurricane have never flooded before . now they have to rebuild the entire home and the are not allowed to just repair the damage, That is a land grab. . they are force to sell to LLCs . they cannot even get loans to repair the damage ...due to the 50% law. They cannot get permits to repair . .I dint think you understand the problem.

@johnelectric933 Ай бұрын

@@richardviolet8759 Spoken like a true real-estate speculator. Forceful wishful thinking. It will never happen again because ... whatever. Until it does, then you want public money to bail you out again.

@jerseykevin27 Ай бұрын

They also kicked off all the men off all the boards, and replaced them with Karen's and betas .

@markrichards6863 Ай бұрын

That comment is clueless.

@bowgibbly1 Ай бұрын

Land grab big time.

@markrichards6863 Ай бұрын

That's right. The only ones happy right now are big real estate investment groups looking to grab a bunch of condos cheap.

@Danielspacex Ай бұрын

I agree, give these people time to adjust. Incremental costs adjustments if the building can pass muster for 10 years.

@sue9252 Ай бұрын

👍🙏🏻🏠

@carlrasmussen2778 Ай бұрын

How about something new ! You ALL have told this story over and over

@pwu8194 Ай бұрын

Condo owners want to be left alone. If the building collapses, too bad.

@prettygirlus9008 Ай бұрын

Please stop saying, "right" after every eighth sentence. "Right?...Right?...Right?"

@marcusdisalvio1804 Ай бұрын

Cheese burger 🍔

@PalmBeachesPaul Ай бұрын

In Paradise

@A_to_Zappa Ай бұрын

There are not enough Certified Inspectors to sign off on 100's of 1,000's of Condos.

@markrichards6863 Ай бұрын

That's why they need to extend the deadline.

@richardviolet8759 Ай бұрын

They should have no property tax on seniors that have lived in Florida full time over 10 years . Who income is under $100K per years . That would offset inflation and some of the outrages fees ....This is very possible and is not expensive i, in fact it would stimuli the local economies , and save there homes

@leandroflaherty Ай бұрын

We should have not tax. Period.

@jimclarence5441 Ай бұрын

What a selfish statement. Current seniors (boomers) enjoyed the benefits of seniors paying property taxes for years. Now that they are seniors they want others to pay for their life style. Can't afford property taxes....sell or mortgage your propery.

@daveassanowicz186 Ай бұрын

Why just seniors? Young people have it tougher. We have to pay for YOUR frigging Social Security, which we will never get. Boomers

@JeffScheid Ай бұрын

Oh well. You made a bad choice and bought a condo. Why should taxpayers fix your bad choice? When I go to a casino and gamble and lose, I don’t get my money back. Should taxpayers bail me out? Nope

@johnelectric933 Ай бұрын

@@daveassanowicz186 A bright word about that; I said exactly the same thing over 40 years ago, and I am now living 100% on my SS retirement. It has held up so far.