Do Not buy a Florida Condo until 2025! (Condo Crisis gets worse!)

[@YakMotley]

Check out my last video on the Condo Crisis! Condos are being stolen from Florida Owners! kzbin.info/www/bejne/oJTYoniYidGUotE

2025? The bottom for single family home prices won't even come in until at least 24 months from now. Yer joking I hope.

[@mikelight495]

make it 24 years if you are are lucky. you will never see any growth.

[@msgiselle954]

Yes land grabs like they did in Hawaii which was also prime real estate locations! I honestly don't believe Surfside went under "naturally" I've seen videos of proof where people showed that Surfside was blown up so the laws could be changed and the 2025 recertification could be implemented and assessments attached so people can be forced out immediately specifically for only South Florida go figure!!! Corruption at its finest smdh!!!

[@mis4nthr0p3]

You need insurance to cover against insurance companies not insuring you.

[@mikelight495]

@@mis4nthr0p3 that is where f.e.m.a. is good. unlike private insurance companies will not be obligated to offer insurance at any price. f.e.m.a. will.

[@LELANDJONES10]

In the 50's my Dad worked a modest job, Mom stayed at home and raised the kids, and they lived a nice middle class lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Soon the kids and family dog will need to work to keep this household going. It's the destruction of the American dream right before our eyes.

[@FegaroScheu]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@RhoadesStephen]

I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@DavidMoore987]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation

[@RhoadesStephen]

Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.

[@TaylorGaston-z9n]

How can I reach her?

[@janetrojas8939]

I sold my Condo in Vero beach 2 months after the champlain tower collapse that was the tipping point for me, every time we had a board meeting owners always voted against maintenance repairs

[@Valmontst]

You bring up a very good point. People always want to blame the board members, but it was quite often the owners who continually voted against recommended repairs.

[@chakchoilawrencecheung1576]

The land is worth more than the building, that is the whole point of the game.

[@alyross2850]

That’s what they think. They probably think they can Miami all of coastal FL. I don’t know if that kind of wealth exists today for enough people to buy into it. Foreign buyers? That’s been the recent history. But FL isn’t the only palm treed sandy coastlines in the world. Part of the reason foreign buyers bought second homes in FL is because it was relatively cheap. Why buy in FL now when they can get the same thing in Dubai, Greece, anywhere in the Caribbean? We have to remember that these are largely SECOND homes in FL. They are optional.

[@rockinrollin8306]

It used to be they'd offer to pay the owners to sell and move out, but now they figured a way to get you out, and it doesn't cost them a dime!!! Criminal!!! 😢

[@SSN718]

Thank you for speaking about this! It's really ridiculous and even sinister that this is happening. While structural safety is important, most cities do these things gradually. In a lot of places, when it's a wide scale issue, the government has programs where they contribute to repairs, incentivizes them, or they provide aid, and the construction is done bit by bit over time. It clear that there is corruption, and that the main motive is that they want to build more expensive high-rises.

[@half-breed]

Meatball lured magots to move to Florida and then steals their retirement savings. Now he can sell it to his rich Buddy's cheap 😂

[@donnamaco1]

I have not seen one real government program that really contributed to repairs. Just a fancy expensive bank loan for the work being done. I have tried.

[@andrewwalter237]

All big buildings are very, very expensive to maintain and after about 40 years they all need major renovation.

[@ailyn181999]

Condos were the last somewhat affordable options in Miami where single family homes are unaffordable to locals with the average salary. Very sad.

[@pinschrunner]

Condos are still half the price of homes in any given area. In Miami you are competing not only with rich Americans, but rich from all over Latin America and the world

[@orhbo0]

Rich Russians & Chinese

[@JKFA1023]

WAIT A SECOND. Quit scaring everyone. There are a lot of condos that have meant all state requirements. I have a beautiful view and live a fantastic life. Quit .. no one is taking your home. Some get assessed yes that can happen at anytime when a new roof is needed and the board did not budget properly. You are blowing everything way out of portion for us that living in condos that are in compliance.

[@PaulaPatioOfficial]

@@JKFA1023 I'm singing the same song and agree with you 100%. :) Not all condos are "sinking". Ya gotta do your due diligence. :)

[@Comm0ut]

Condos are a terrible financial risk. If you don't own the entire structure you live in and the land it's on you are helpless. Miami problems are easy to solve like I did New York metro problems. I don't live there so no problem.

[@chakchoilawrencecheung1576]

Condo used to be a dream for everyone, now it is going to be a nightmare.

[@neo557]

Not going to. It already is a nightmare.

[@nonya566]

My guess is HOA are going to be the new law of the land. Soon everybouse will have one.

[@PaulaPatioOfficial]

@@nonya566 nope! That's not gonna happen lol :)

[@mariacraig4687]

I can’t say thank you enough I have learned so much from you and I know for a fact that you have saved me from being one of these poor souls losing everything

[@stephensarnoff3264]

Many of the current condo owners being affected have always voted to defer maintenance rather than see their monthly assessments increased to build up their reserves. To avoid corruption you get three bids on any project that needs to be done. Everyone is not a crook.

[@PaulaPatioOfficial]

I agree with you 100% When I resided at my other condo (for over 30 years), immediately I suggested a small increase to build up the reserves (board was happy with having 80K in the bank ... a joke)... long story short, Boards "excuse" was: People are on fixed incomes (geeze aren't we all???) and we're "grandfathered in" i.e., we don't have to have reserves. When I sold my unit - for a pretty penny - building supports were all over the hallways (in both 2 story buildings), and propping up balconies'. Some counties such as Palm Beach and Dade until recently imposed the NEW regulations designed by our state people without thinking about the florida residents consequences and financial burden that will be placed upon them (very sad). Meanwhile, broward county has had in place the "40 year inspection". Were all condo buildings on the "straight and narrow" path with inspections???? We're some "hands" getting "extra" green???? My NEW - 50 year old 20 unit - humble condo building passed inspections with flying colors because this building is well maintained and we - all 20 unit owners - don't let anything lag behind.

[@frankwilliams6431]

It amazes me that none of these folks take ownership or the decisions they have made over the past 30 years ... Lots of deferred maintenance.

[@briansteward5085]

@@frankwilliams6431 Imo, local codes should have been improved and enforced before the properties were built. People want less government but when gov finally has to step in, the situation is already catastrophic.

[@louisdiedricks7110]

Who wants to get richer on someone else's misfortune? WALL STREET!

[@enoynaert]

A lot of the people complaining the loudest about the high assessments are the ones who were consistently voting against funding reserves in the past. They kicked the can down the road, and now they are at the end of the road complaining about the wall of buckets. There probably will be big corporations who come in and take advantage. However, the situation exists because people treated their condos as an emotional choice, not as a business proposition. Emotions don't fix structural problems that have resulted from deferred maintenance and denying reality.

[@nikodette]

Hard to believe that these people are blaming everyone except themselves. These condo owners deserve if it they thought they were just going to pass the assessment to the future buyers. All building structures needs to be built with the right materials for the environment that they are in and then must be maintained thereafter. Wow, yup that costs money. Disgusting.

[@ricklesser5851]

Exactly. I'm the Vice President of the condo board. We are lucky we have always funded the reserves. However, last budget meeting, the homeowners weren't happy with the $200 increase for the maintenance, and we had a little mutiny. The owners demanded we shave some things off the budget. Like funding, the reserves for this year. They would rather pay an assessment. That decision caused multiable mini problems. And when you devided 12 into the assessment instead of paying what we wanted it inceased the Maintenance by another $160 a month. Some where slow to the table to realize, that others still don't understand it.And some want to know, can we go back and find the reserves? Sorry it's recorded, you can't. We're waiting for our reserve study. Because even though we were fully funded for all these years we still might be short. And the 46000 that we didn't fund the reserves with, that's gonna be added to the new budget fun fun fun.

[@Technotranceism]

Exactly. It's like buying an old car from the 50's. Looks good inside and out, but the frame, and suspension, along with all the panels, are rotting out. Than they wonder why it costs like $80k to restore it.

[@nmhdez]

My family and my entire extended family are all home owners. None of them ever bought homes in HOA communities, they all own the land where their homes are build on. They love having the freedom to do whatever they want with their property. HOAs have too much people, you never truly own a home if you have other people telling you what to do with your home.

[@healing_with_nature1]

You speak as if they actually TRULY own their houses. They don't.

[@artdiaz9813]

They don't own the land . They lease it from Uncle Sam ..

[@buddie623]

I am a Florida State licensed General Contractor. 63 years old born in Dade County. Condo's are straight up fucked. Many buildings will be demolished. Very sad but true.

Shotty workmanship and total neglect ..I could have saved and lived more economically the last 30 years ...but I was afraid this day would come..by buying a condo..and not staying a renter

[@deborahheckstall1881]

So are the developers who are stealing these properties.

[@Valmontst]

Can you tell me if the figures that I have heard on other videos are correct: that up to 36% of all real estate in Florida is made up of condos??

[@zeppelinmexicano]

The smell of grift is wafting thick in the air in Florida. The disrespect to the retired owners on fixed incomes is exposing the decrepit underbelly of The American Way.

[@half-breed]

Meatball lured magots to move to Florida and then steals their retirement savings. Now he can sell it to his rich Buddy's cheap 😂

[@JosePazos33]

This law, authored by Daniel Perez, the incoming Speaker of the Florida House, was passed with unanimous support from all legislators, even those who expressed sympathy for its potential impact on residents. On one hand, this change has been a long time coming-over 40 years-due to the consistent failure of condo associations to adequately fund reserves. On the other hand, having managed condos and HOAs for over 20 years, I believe this is part of a broader strategy to condemn older, vintage condominiums, ultimately forcing owners to sell and paving the way for high-density luxury developments. The rest is just political posturing.

[@dbs555]

Vintage or high density luxury won't make any difference when they all become uninsurable. Coming soon to a corrupt state near you!

[@michaelwoehl8822]

YOU GET WHAT YOU VOTE FOR, YOU ALL VOTED FOR THESE MONSTERS.

[@antrena490]

💯

[@FSX239]

​@@michaelwoehl8822 You are so right. Guess what if this was a blue state they'd be yelling about how mismanaged the state was, however it's red so crickets.

[@makina323]

​@@FSX239it's hilarious when you hear these hypocrites grumble how this is all Bidens fault and he's not doing anything about it.

[@youtubechannels9205]

Never buy property with HOA, the best future advice to these poor people.

[@Sheya404]

Facts

[@Sheya404]

Facts

[@GoRed2024]

Best advise!

[@winterwolf2012]

Buy a home & the land, no HOA. Love the freedom.

[@MB-rr1fb]

As condo prices drop houses will follow

[@CanTho2022]

@@MB-rr1fb….NOPE! The opposite will happens…

[@truckbomb1]

I hear you man. But there is a reality in buying real estate in Florida. Its not for the unwary. I was tempted to buy in some nice multistory condos on the ocean in Palm Beach County. Upon investigation into the financials and my profession as an engineer I sensed that the reserves were inadequate for a concrete rebar supported high rise on the ocean. So I bought in PGA National at $300 grand single family one story home now worth $1 mil. I ran for the board and could have a say in the administration. Like the old tv show, Hill Street Blues always began. "Be careful out there." You are correct. The vultures are there for the picking.

[@hammertyme8392]

Condo owners are screwed. There's no way anyone can afford the rising cost of insurance, fees and maintenance.

[@browaruspierogus2182]

so after this they expect people to still buy any condos in Florida - lol

[@eliot5220]

@@browaruspierogus2182A lot of foolish people will still buy them. Basic idea of control is the reason why I never bought a condo. Most people are not smart.

[@Drknnja]

@@eliot5220 actually (under normal circumstances) co-ops and condos are a good way to stabilize your housing expenses especially at lower income levels. Not good for investing, but (can/should be) a good option for affordable housing. There are always exceptions, right now Florida/California are big exceptions.

[@MB-rr1fb]

@@browaruspierogus2182 Yes, a price correction is needed............Buy a condo for $175 ish , pay cash, skip on the insurance.........

[@amrice62]

After 2025 all deficiencies will have been identified- then it will be safe to buy. As for right now- what a shame, heartbreak, loss of family homes, cash drain…

[@tatianastarcic]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@Vincent-j8u]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@nicolasbenson009]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@TinaJames222]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@nicolasbenson009]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@sharonwinson-m8g]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@AnitaSoler]

I believe theres grounds for massive class action lawsuits. These Condo HOAs just kept raking in money and squandered it away. Never did proper maintenance. Isnt that a breach of the contract they have with unit owners?

[@hideoussails1783]

I think probably most people bought a condo because it's supposed to be cheaper than a house. You can throw that out the window now

[@fudogwhisperer3590]

I think theres going to be an opportunity here to pick up newer units for 90% off due to fall out. Its going to take 5 to 10 years for the condo market to come back after this. Units being built right now are going to have to fire sale. If you can hold them for a few years until this thing quiets down, there are profits to be made

[@Automedon2]

New construction is never going to be 90% off. The developer needs to recoup their investment and would rather declare bankruptcy than suffer huge loses.

[@4000angels]

Thank you for all of these videos. Please keep them coming! 🙏

[@BabyHoolighan]

My advice to condo owners with adverse SIRS: resistance is capital intensive and bad for your health. Treat your condo like a stock whose value has dropped to zero. Move on quickly. Do not invest your valuable energy searching for a solution to the old problem. It's dead! Do not wait! These situations can impact your credit as it progresses. Make moves while you are in the strongest possible situation. Even if you are 81 years old. There may be help coming for vulnerable populations but don't count on it. Do not ask the question, "Where can I go?" Get mobile and start moving. Sell your possessions, concentrate your cash, and move now. If you are not able to sell your possessions, leave them. Walk away. Every day you wait, the weaker you will get to transition. Protect your credit rating.

[@dyking2105]

This is tight but sad to say this is right. I am very concerned about my mom in her 80s that is in South Florida in a condo not on the shore, but by a lake. Her HOA fees combined with HOI are horrendous, she is on a fixed income, retired and widowed.

[@BabyHoolighan]

@@dyking2105 if your mom's condo has a current SIRS, it will state what the costs will be to bring the building into compliance. The document will also list the number of units and the cost per unit for compliance repairs. Even if your mom can afford the special assessments, the critical questions will be, can the other owners do the same? She can still be adversely affected if the other owners cannot. Good luck to your mom.

[@constantineblinkov2972]

@@dyking2105 Maybe invite your Mom to live with you?

[@PaulaPatioOfficial]

@@dyking2105 ya gotta get your mom out instead of "watching her sink and worry herself to death"

[@RootBeerGMT]

1 condo building fell. Out of 1000s. And then the govt comes to help! If they can do this to few simple condo owners, what keeps them from imposing the same rules for reserves on single family houses?

[@half-breed]

Meatball ron did that 😅😅😅😅😂😂

[@mslisa5791]

May be they should have made their repairs all along like we do on our own houses. These people refused to do their repairs for decades. Remember we can't do that on our homes.

[@OgnianHristov-f8k]

We pay for repairs, the problem is corruption and stupidity of condo boards

[@meropee9994]

I hope the legislature allows for some extensions. This is terrible, i get the safety factor we dont need another collapse, but this doesnt seem like a well thought out plan.

[@Automedon2]

Extensions? People without 50,000 extra lying around aren't going to have it in a year

[@christophergaudreau9265]

Dont buy till 2025 . ? . ? . . Huh . ? . ? . . . How bout NEVER ! . !

[@teatime4264]

This is so sad 😭 there should be protection against this !! Thanks for sharing this information.

[@paintbrushful]

Where the hell is Desantis in this nightmare. I thought he was Supposed to jump into action with DISASTERS . Looks like he sat back and let this cronie theft happen..What is the point in having a governor?

[@cheryls3777]

Not sure he can do anything for private real estate. If it were a govt subsidized bldg he can. My mom's building was completely refurbed but it's govt owned.

[@half-breed]

Meatball lured magots to move to Florida and then steals their retirement savings. Now he can sell it to his rich Buddy's cheap 😂

[@Itravelbackintime]

Desantis: I have a roof over my head I don't care. I am the Governor. You have to pay your fair share.

[@pinschrunner]

I wish youtubers would not generalize because over 20% of Florida condos are under 25/30 years old and well capitalized for the maintenance for roofs, parking lots, structure, pool, etc. and therefore exemot from all this drama. These are still viable purchases for people seeking housing because the price of a condo in Florida in any given area is way less than half the price of the same square footage residential home.

[@Comm0ut]

The moral of that is not to live there since development ONLY makes life worse. What we do not own completely we can not control.

[@dynahdubin4945]

Thank you I appreciate all the help you can give me God bless you

[@AlmaMelvin58459]

Need to research which law makers took money from which entity to enact the law that started all of this.

[@eliot5220]

Just poor decision making by these folks.

[@eliot5220]

What do you think will happen?

[@MyLoganTreks]

Facts are Ron Disantis passed the legislation for all of this to happen, know the facts

[@Automedon2]

They sure came up with estimates for repair awfully fast. How did they assess thousands of buildings in such a short time?

[@iati6294]

They need to hire some Mexicans from the Home Depot parking lot! They charge 1/4 of the price

[@hideoussails1783]

Construction noise will drive you nuts, even if it's not your building you're going to hear it from down the street

[@constantineblinkov2972]

Move to Idaho?

[@hideoussails1783]

@@constantineblinkov2972 as long as it's not a condo

[@PaulaPatioOfficial]

lol...not if you have hurricane windows ... everything is "silent" with them closed. ;)

[@hideoussails1783]

@@PaulaPatioOfficial but you'll have to stay off the balcony and out of the pool

[@hideoussails1783]

What about buyer beware? It's easy for the owner to say that he didn't know. I suppose it should all fall back on the inspector before the sale of the house

[@figuefer1]

This is going on everywhere, just pay attention to property insurances new rules. Under their own discretion they choose if they can sell or renew your policy.

[@constantineblinkov2972]

This is not new at all. It's always been like this.

[@walter3024]

Nobody is going to want to purchase a condo ever.

[@johnelectric933]

How much of a ripple effect is this going to have with houses and especially rentals? The demand for both are going to go through the roof.

[@dannydan8695]

You will own nothing and be happy while you're holding on to your ankles!

[@sondrakorte7547]

Good one!

[@futurefirm]

who would even chance buying a condo again after this debacle?

[@constantineblinkov2972]

Nobody should.

[@edcarter405]

Rich get richer and the poor get poorer…. It’s criminal.

[@Automedon2]

That's what the stock market is all about. Getting rich on the labor of others and getting even richer on the misery of others. Those invested in Wall Street are all complicit.

[@antrena490]

There is a price for forgoing maintenance

[@mattneil1449]

You mean capitalism 😂

[@Orlando_Steve]

If you buy part of a building, you need to maintain that part of the building. What the hell are you even talking about?

[@jasoncrandall]

The smart get richer. The dumb get poorer.

[@GOPETSCOOTER]

We are going through this in Mississippi too so its not just Florida.

[@1138prometheus]

Oh that's a brilliant idea. We should hold off on the ones that have obvious problems which would never pass kind of like Surfside. I mean, how many more surf sides could there really be? Probably not more than three in the next 10 years?

[@RighteousQueen-br3ux]

Some of those communitities will need to be torn down. But my concern is if a developer wants that location the team making the repairs could be bribed to inflate the number and cost of repairs and t4ucking the owners to sell and leave because the assessments and increase if fees would be just too high. When in reality theur property was in good shape.

[@frankrusso2093]

The biggest merger and acquisition company is run by Uncle Sam

[@MyLoganTreks]

Correct it was trump who repealed the Frank Dodd Act that allowed banks to lower their capital reserve limits so they could make billions more in profits off lending and allowing for the largest merger in over a decade. The footprint of the two banks overlap was perfect and CEOs profit and attrition for everyone else at lower wages

[@Automedon2]

I can see the attraction of living with an ocean view, but damn, you sure pay through the nose to do it.

[@johnhousey4936]

This shows that we’re clearly being ruled and there’s really no such thing as private property, property ownership or freedom here in the US. This should be more than obvious by now.

[@EllieM_Travels]

Makes me wonder if Seaside went down naturally or if it had some help.

[@marysullivan3881]

Why would anyone buy property in Florida. With the increased ferocity of hurricaines damage to your property over years is likely. Why buy and remodel when you will have to repair and replace again and again. Affording property insurance is becoming a fantasy.

[@amrice62]

Ernesto, I don’t think it is in everyone’s best interests UNLESS there is a condemnation of a building

[@mtwhatley3253]

Blackrock has decided to get into the condo biz. 😂

[@SKG1941]

In my stupid opinion never by anything but your own land and house.I promise you are not safe even doing that. If they want you gone, you’re gone.

[@kymountaingal3672]

Very informative thank you 💯

[@tonyv596]

Crimes are out of control...yeah just let the people figure out how to deal with it.

[@josephconsuegra6420]

Someone is buying. As of July 29, 2024, Miami had 90 high-rise buildings under construction.

Wall St bankster money is pouring into Miami in purrtickler. Wait'll Trump gets back in. Anyone with an income less than $250K/yr who bought a home after 2020 will be liquidating in foreclosure come early 2026. Trump's sin in law Jared gonna have a field day buying up Fl homes for members of Trump's bankster class. I bet Trump even brings back Wall St insider Steve "Muh Nooch!" Mnuchen as his treasury secretary.

[@lp3980]

We’ll see what happens with those. Miami has traditionally had huge swings up and down.

[@orhbo0]

It’s probably called China. But they can tear down the older buildings & rebuild.

[@cheryls3777]

​@@orhbo0My thoughts too

[@orhbo0]

@@cheryls3777 Yeah, as far as houses or apartments, they can pull off any new law that they want in the future - in the name of climate change.

[@They-Have-Disconnected-911]

COST AND RENOVATIONS FROM THE BIG GUY IS FORCING THE LITTLE GUYS OUT

[@TeaTephiTrumpet777]

The prior need to do exactly and demand a different way to fix the buildings than to simply be able to steal these homes.

[@bradbradshaw-i4n]

i think it will take more than a year to work out. i am very glad that i rent. i can just move where i want, when i want.

[@michaelrobinson300]

but you dont own shit and cant do what you want

[@bradbradshaw-i4n]

@@michaelrobinson300 if you save your money all your life you can do anything you want.

[@hideoussails1783]

​@@michaelrobinson300he doesn't own ridiculous condo problems

[@ettin05162]

It will end up on your shoulders.

Thank goodness there are so many affected ...only in numbers will help come...because if ur alone you are hopeless

[@joaultman]

What about hotels and apartments on the water

[@unknownswenson]

Looks like they're gonna have to go pull themselves up by the bootstraps and go put out some resumes and shake some hands. They'll figure it out

[@dawnsmith7824]

Never buy a condo or a house with a HOA in Florida. You will be so sorry you did.

[@wango556]

It’s just a matter of time until this spreads to homes in these areas and near coasts in Florida. 30 years old and the hurricane building tech is dangerous. The amount of mold in homes that old is crazy.

[@Orlando_Steve]

Don't buy things you can't afford to maintain. In a related topic, don't have kids you can't afford to raise.

[@OfeliaDu]

That's my question. 14:47 What is reasonable and what is not.

[@Technotranceism]

People who bought a condo, did they really expect the building to last forever? Even concrete bridges are hard pressed, to last longer than 30 years.

[@mattneil1449]

These condo owners need to get together and hire an unbiased 3rd party to do an inspection.

[@moonlight-kh6uz]

in Canada, there are Certified Fraud Inspectors who can present to owners for 1hr free of charge, what they can do for them. forget staged "financial" accounting. these folks go into the actual books looking for cost accounting transactions deep down. then they launch lawsuits bringing back 100s of 1000s to owners. but guess what: condo mafia quickly adjusted the law so that you cannot even call inspectors for a FREE presentation on-premises, without approval of the board (read mafia).

[@tinysmith1834]

Great info!

[@toddygallent7258]

The government has created a legal course for property developers to take valuable land from homeowners

[@rowdybroomstick6394]

Maui #2 that's exactly what's going on.

[@jacquesrosas5758]

Now you see why De Santis needed you to sleep.

[@half-breed]

Meatball lured magots to move to Florida and then steals their retirement savings. Now he can sell it to his rich Buddy's cheap 😂

[@dewayne4986wilson]

I came close buying a vacation rental condo... glad i didn't.. cant understand how they are so expensive but really don't have ĺand value to hold its value

[@Woke365]

Vote blue 💙🔵💙💙💙 vote Kamala Harris -Tim walz. Republican governor only care about big business.

[@RG-xi3rd]

How about don't buy a condo on the beach or near it ever.

[@chadstevens6619]

They are stealing peoples properties they need to go to jail. It is a crime to steal. Absolutely bullsh!t

[@cookboss4180]

What’s bullshit is these condo owners upset over their own negligence and lack of research

[@alyross2850]

100%, sir. What did we learn over c0v1D? When the powers that be come to take your freedom and your property, it will be in the name of “safety”. Directly from the c0mmun1st playbook. For those who did not learn that lesson over the last 5 years, nobody can help you.

[@TF-mw4sy]

Hawaii highrise condominiums built in the 1960s and 1970s are also affected the same by weather, mother nature. The HOA fees for a 500 sq ft condo there is approx $1000/month. 800 to 900 sq ft condos approx $1500/month. That's what you have to pay for ongoing maintenance, condo owners. $12,000 per yr over time, or $50,000 at one time?

[@pinschrunner]

Communal living is suboptimal. But theor goal is to force people into massive 15 minute cities and humans living in pods or FEMA camps.

[@ricladouceur6202]

Years of neglect. People didn't want reserve funds and now elderly people largely on fixed incomes will never be able to afford the large assessments that will be required to bring this stuff into compliance. There's going to be a crash!

[@LadyBee4433]

I’m paying 1,000 dollars a month in condo fees. It went down from 1400 a month. I live in Lauderhill. Not even in a nice neighborhood. This is illegal!!!!! What can we do?

[@Sheya404]

Sell and move into a NON- HOA!!!!

[@LadyBee4433]

@@Sheya404 right cause I can afford an overpriced place in Florida. The down payments are ridiculous and nothing is cheap right now which is why I bought a condo in 2021.

[@LadyBee4433]

@@Sheya404 there’s elderly retired people living here that had to move out and had no where to go. This isn’t fair nor any American dream just a god damn nightmare.

[@kessku1484]

U can live like royalty overseas for that amount. Not to mention Lower property taxes and cost of living. good luck 🍀

[@reallifesuvlife9051]

I would put my stuff in storage and get a nice van and hold up at the camp grounds, switching when I had to. I would give myself some breathing room until I figured things out. Throwing good money after bad will drain the accounts. I know it might not be a perfect option.

[@mypeeps333]

How about never buy anything with a HOA 😊

[@BillJohnston-y7o]

You are a young guy, look at the past down markets. It's going down for many years before it hits bottom. This is like late 2005, it took 6-7 to hit bottom, this could be worse. Prices are way higher, taxes way higher, Insurance way higher, Interest rates higher and people are just starting to lose their jobs. People have much more debt than before.

[@donnadaniels5095]

Thank you for💕 exposing the corruption and wickedness in high places👿 this is why I never wanted to buy a condo because it seems like they hide a lot of things , I look at things average people don't look at starting with the outside of the building 👀🤷‍♀️ before you buy a condo 🤮you have to get an inspector🕵️‍♂️ to check it out before you buy it. bu

[@tomd5178]

You raised a question I've wondered about. What happens when the HOA says fuck it. We're not gonna comply?? And you know as well as I do that if there is another building collapse, owners will sue the board or someone. Its a no win situation for everyone except the big corporations who will buy the property for land value

[@WonderWoman248]

Thank you for your video! I’m in Michigan looking to downsize to a Michigan condo, now I’m cautious. As a single mother of twins daughters the Home Depot runs for our current home is overwhelming. Condo townhouse seems best, homeownership while having snow removal and lawn removal etc. Do you think Michigan condos are as a big of a risk as Florida’s in-land issues due to rising waters in their areas? ( P.S. Tiny Home communities are looking nice to us too! )

[@donaldkania9977]

Buildings will be bought out and turned on rentals????

[@AlexM-vh2pu]

They No, old buildings will be demolished and new ones will be built. It will be mostly rentals.

[@bweaver760]

Condos have always been a loss leader in real estate ownership! You have to have the rights to the land beneath your home!

[@srossi4447]

Nothing happened to all condomínios until One Miami condo felt down in a pancake style. Which I find fishy. And they blame on maintenance. I don’t have evidence but find very suspicious a whole bldg comes down in a pancake style which looks like demolition. I don’t trust most of people in charge in Miami. A lot corruption there. I feel sorry for condo owners. This is looks like big developers with big package money. Doing all this to bring down old bldgs dissolving condo hoas. Then build $1million dollar condo bldg. So dishonest. Where is the governor on this?

[@RootBeerGMT]

1 condo building fell. Out of 1000s. And then the govt comes to help! If they can do this to few simple condo owners, what keeps them from imposing the same rules for reserves on single family houses?

[@kasarnfla]

Move to Florida they say, HAHAHAH

[@carltontweedle5724]

This is what happens when you use the cheapest bidder. That and bent inspecters.

[@Brightstar914]

Cascades of lauderhill condos are in excellent condition. We don’t have any problems whatsoever.

[@charmainmorrison8615]

Folks buy land and put up your own house or put an RV on it. No one owns their own condo, you can lose that in a heartbeat

[@EddieTheMessenger]

GOOD NEWS, MARKETS ARE WAY OVERPRICES ACROSS THE WHOLE USA

[@chadsmith7075]

its not right, we all need to live as humans

[@donnadaniels5095]

Whoever owned the property they're sorry investors👿 they need to do right by these people, they knew something was wrong with these building before they sold it, they need to tell the people to move out rebuild the condo and put them back in it they already pay for it🤔

[@constantineblinkov2972]

LOL

[@maryannmendoza4729]

Young people that moved there had moved out within months. Lots of thieves - with or without job.

[@xmetallica21]

How about don't ever buy a condo in Florida ever unless you hate money.

[@UrbanAssetProtection]

It's called financial gentrification.

[@vincentsnow8436]

what is ?

[@UrbanAssetProtection]

@@vincentsnow8436 Financial gentrification refers to the process in which rising investments, development, and economic activities in a neighborhood lead to increased property values, rents, and overall cost of living. This economic shift often displaces long-term, lower-income residents who can no longer afford the rising costs, paving the way for more affluent individuals and businesses. Unlike traditional gentrification, which focuses on physical or demographic changes, financial gentrification emphasizes the economic forces that reshape communities, often exacerbating economic inequality and altering the social fabric of the area.