Broward condo owners face soaring repair costs after inspections

[@UncleDavesKitchen]

Why should the government bail out condo owners? They bought into a dream, didn't follow up with repairs or maintenance now it's falling down.

[@TommyTomTompkins]

They bailed out the big banks...might as well bail them folks out

[@JimmyTSicily]

Would you rather have to move because it's unaffordable or would you rather die or get severely injured where you could never walk or practically talk again because the building falls on you? Life's not easy is it?

[@UncleDavesKitchen]

@@JimmyTSicily They avoided needed repairs for decades there. Life isn't easy if you don't plan for it. If you don't change the oil the car won't run. If you don't brush your teeth you've not going to bite one day. They bought a condo then sat looking at the view. If you don't keep it up you get left behind.

[@edg8535]

So, we have multistory buildings built along the Atlantic and Gulf and have been exposed to salt from the water. Over 40 years they have basically just painted. What else would you expect.

[@danthompson6067]

The money issue here relates to the desire to minimize monthly HOA dues. The result of holding fees to an unrealistic low amount is the cause for delayed building maintenance. Now said delayed maintenance is coming home to roost.

[@jamesmooney8933]

Or HOA took profits before maintance.

[@jamestreanor182]

@@jamesmooney8933HOA doesn’t have profits

[@ADRAPropertyManagementInc-d2g]

This constitutes board neglect. The board has a fiduciary responsibility to properly prepare a budget that covers the anticipated cost for the continued upkeep of the association property. For managers and those vendors involved in the managing of association property, the lack of attentive care is frustrating.

[@jamesmooney8933]

@ADRAPropertyManagementInc-d2g You give a fancy description of HOA. In simplistic terms. HOA is given so much power over residents of the HOA, that corruption will follow.

[@davidmccarthy5246]

Condo associations in Florida have been kicking the can down the road for years and years. What did you expect?!

[@tomcox22]

The Feds are doing the exact same thing with the national debt- and now there is no answer for it

[@SnootchieBootchies]

Exactly. This is the result when you are not sufficiently woke about the cost of deregulation. Florida elected officials think "red tape" is a bad word but there are reasons why rules and regulations was put there in the first place, so you can avoid tragedies like the Surfside condo collapse.

[@ChillWill-q5x]

@@SnootchieBootchies What in hell does government have do with that? The inspection reports were very clear that there were major problems, the Condo Association ignored those problems for years, they took the money and didn't do the job, not the government.

[@JimmyTSicily]

Yes but the problem is that you are speaking with common sense and logic and there's a huge shortage of that in Broward County just check out the road rage they all drive around like maniacs low IQ unintelligent people so good for them you have problems let's see how you could handle it

[@patentexperts1675]

I'm a single family home owner. In the last five years; new hot water tank, new AC unit, new roof, new windows, three support beams replaced and of course the everyday maintenance. Welcome to the club Condo Owners!

[@mrjonathank92]

@@patentexperts1675 you don’t get it! They started paying $200 back in ‘85 and they don’t want it to increase one cent more!

[@texasboy5117]

We dropped just around $13,000 on our single family home last year. We know we will need to replace two AC units in the near future. This will be about $14,000.

[@steveconkey7362]

$60,000 for a new tile roof here in Venice.

[@diegoflores9237]

This happens to single family homeowners too. They barely maintain the property and the issues pile up

[@NoLeakz]

The can has officially reached the end of the road…

[@TommyTomTompkins]

It got a lil more road to go

[@vulcan2882]

I have a friend who lived around the corner from there, he said all the buildings in that area are an accident waiting to happen. That's was the main reason he moved off the island.

[@michaelseibold9977]

Don't you love it when people demand "gummint hep" when their condos were never properly inspected, competent reserve studies completed and adequate condo dues established? These are structures built in a maritime environment that is akin to what happens to a boat: corrosion to the rebar, wasting of concrete and damage to footings. Sorry, I really don't feel all that sorry for these folks. The regulations are correct.

[@Dan_the_mn]

And they voted for trump and president musk

[@michaelseibold9977]

@@Dan_the_mn 🤣

[@paulskopic5844]

@@Dan_the_mn TDS?

[@Dan_the_mn]

@@paulskopic5844 not sure what that means. Are u feeling guilty ?

[@TommyTomTompkins]

Only help I want from the gubmint is food stamps and Medicaid

[@HairHoFla]

When the sales person says "stucco" make sure it not you they're referring to

[@hammertyme8392]

🤣🤣🤣

[@boby115]

@@hammertyme8392 and you become the stucce

[@TommyTomTompkins]

Lol y'all cuttin up on this internet 😂😂😂😂

[@diegoflores9237]

This doesn't just happen to condo owners. It also happens to owners single family homes too. They don't do the required maintenance and it piles up

[@davidwright873]

So whose responsible for the day to day? or do they just collect your money and be on their way?

[@diegoflores9237]

@davidwright873 the condo owners are ultimately responsible. They own their condo so it's their responsibility to be on top of things. Meaning they need to check on the condo association. Many condo owners just pay their hoa dues but never give any attention to how it's spent or what maintenance a property might need.

[@neilkurzman4907]

@@davidwright873 see you seem to forget that the people who own the units have a say in how much is spent on maintenance. And a lot of these places decided not to spend money on maintenance. Low common charges equals high resale prices

[@davidwright873]

@@neilkurzman4907 dude I didn't forget anything....I get the big picture...Im wondering as i said, do they just collect the money and pocket it? where do dues actually go? Or fees...whatever you wanna call em....It should be a big pot somewhere that has built up over time....

[@pamelacox540]

True. And more maintenance is required if you’re close to salt water.

[@LiamChris-x4h]

Happy new year 🎊, I only share this with good intentions. Greetings to everyone and a cool video. my biggest concern is how we are going to survive all these financial and political crises. The government has really made things difficult for its citizens and we cannot just sit by and suffer the consequences of bad governance🙏… I want to start investing, but l'm unsure where to start because of the resent dump and bull. Do you have any advice or contacts for assistance?

[@CruiseFadi]

It is wise to seek professional guidance when building a strong financial due to its complexity

[@MotesoPhilip]

Talking to an expert like Noahavamia to reshape your portfolio is a very smart move

[@AmeliaCharlotte-u6c]

SHE’S MOSTLY ON TELEGRAM APPS WITH BELOW NAME

[@AmeliaCharlotte-u6c]

@Noahavamia just type in the name

[@GideonJack-m5k]

Noahavamia distinctive strength is her pragmatic approach, setting her apart from other brokers who often set unrealistic goals and fail to deliver

[@ChuckStewart-q3z]

Sooo glad decades ago we bought actual land.Started with a small house. Any improvements, additions were on us.

[@karenc8773]

Not doing cyclic maintenance on buildings has the same disastrous effect as foregoing maintenance on bridges. Expecting residents (ie, HOA) to know anything about bldg maintenance is a tall order. This was a disaster waiting to happen when all these places were built in the boom time.

[@dakmycat3688]

I’m sure they Took the salt water and hurricanes into consideration only thing is, is that times coming up. I’m sure they figured it’s not their problem in 40 years🤨

[@PeterSramka]

@@dakmycat3688How can you be so sure of your speculation. Wouldn’t it be more accurate to say, “I wouldn’t surprised if xyz” rather than “I am sure xyz”?

[@kimberlybegonia2869]

Living in Paradise on the beach where everything RUSTS Out! Common Man forever home No Way

[@kirk1618]

Why should taxpayers be on the hook for deferred maintenance, corrupt condo boards, etc? This is private property that decisions were made. People buy into these condos for less expensive living. For not having to do maintenance on their own. The structure is a co-op. If the group elects to defer the maintenance, so be it. We all know that deferring maintenance never makes the problem go away. The issues only compound and the costs increase exponentially. If the condo board mis- manages, steals, or whatever, who's on the hook? The owners are! The owners, not taxpayers. I own my house. I do my maintenance. I keep up on issues. It really hurts the wallet for those unexpected issues, but that's life. We are all responsible for our decisions. A condo/ townhouse has never made financial sense to me, in my situation. Back in the 80s and 90s, I remember all the sales pitches. How much better and cheaper life is in a condo. Buildings don't last forever, none of them. Build on the sand (wasn't there some advice in the Bible about building on sand), covering issues with stucco and paint? What could go wrong? Got a nice pool though. Sorry some of these people are getting ripped off by others before them, but I will never see where the taxpayer holds any responsibility to make any of this right. Sometimes you gamble and you win, sometimes you don't. But it's never my responsibility to pay back your bad debt.

[@TommyTomTompkins]

Well said and yes Jesus warned about building on sand...we can apply that both literally and spiritually

[@isocarboxazid]

@@TommyTomTompkins What relevance does a long-dead middle eastern guy have with this?

[@alexisbaumann1631]

Where is all the condo association fees ????? Who stole the maintenance fees???

[@Sleepy-o3m]

It’s the people who wanted low association fees who are at fault. They push it off for years until finally they have to raise fees dramatically, special assessments happen, etc. happened at my last place. So glad I left because it was ridiculous.

[@RocketGator05]

The greedy capitalist building owners need vacations and to invest in their retirements. They don't care

[@MS-ty8eq]

There was never any payment to be stolen they pushed off the payments for maintenance until now.

[@guybeingaguy]

Jesus. Jesus took the maintenance fees.

[@dirtbikefan2007]

@@guybeingaguy he also took the wheel!

The usual response by people is that they want the government to step in. But, that just means to have all the other tax payers pay for your situation. How is that far to everyone else??

[@JimmyTSicily]

Yes they really wish that that low IQ wino would have took over for that complete criminal idiot pervert Biden but oh well here comes trumpy bear! LOL

[@jamestreanor182]

They refused to do repairs for decades…

[@1whitecottagelife770]

We've been going to Maui Hawaii yearly to Kaanapali and we stay in a condo at the Whalers condominiums. Ocean front. I noticed a lot of aging plumbing and I was wondering how much it would cost to update the plumbing and maintain such tall buildings. People are talking about Florida today, I believe Hawaii is next

[@alp3781]

I want to thank well experienced home inspection when we met, inspecting out new townhouse in NJ, when asked if good to invest in a flat by the ocean around Fort Lauderdale. Was told, NOOOOO. Stay away from these old condos/flats due to this same issues. That was 10 years ago. This Jeff saved us so much aggravation, not even a joke. My wife and I, stopped by his office, last week and brought the office a massive food basket as thank you. He was so surprised almost to tears. THIS ISSUE is a mess!!!! I feel so bad to all of these building and/or condo owner. Now, its a black hole for so many of them.

[@quackassassin2146]

Broward county doesn't want to help the residents on a forty year old building with only a measley eleven units. They want them gone. So they can put up an ultra lux mid rise with 40 or more $3.5 mil and up units.

[@GigaChad_169]

Yup why help deadbeats who don’t want to maintain their homes? Let a developer come in and add value to the land instead and reap more taxes.

[@how_to_college]

In any case, the county doesn't have hundreds of billions of dollars lying around .

[@Bob-The-Guy]

I see the same thing happening here in Massachusetts but in a different way, smaller homes are being bought by developers and knocked down to build huge homes. The town is fine with this as they generate more tax revenue without having to raise taxes. The down side is that it pushes out those with lower incomes making the housing crisis worse.

[@neilkurzman4907]

They allowed their building to become unrepairable. Nobody can help them. He was there for 17 years. Maybe if they did something 10 years ago

[@same5952]

@@GigaChad_169 Exactly!

[@ashishpatel350]

Shocking that you have to maintain your property. Amazing 😂

[@harmlessgrey]

It's an outdated building that hasn't been maintained. Makes sense to sell and replace with a big new development. The cheapskate owners who angrily voted down HOA fee increases while never volunteering to be on a board and do the hard work are to blame in many of these cases.

[@user-Luv-U2]

My condo building in Broward is facing similar problems! They say the building has to do an audit back to 2022, The previous condo boards might be to blame. After each year the former board members never show up to the meetings. The Beach Club condo is facing issues too! There are a lot of angry unit owners who always fight about money issues during the meetings.They don't know how to wait their turn to speak! It's terrible what goes on! 😱😱👀👀

[@guybeingaguy]

You are about to lose a lot of money. Good luck.

[@user-Luv-U2]

@@guybeingaguy I subbed Tasty Peanut 🥜

[@neilkurzman4907]

Yes, it’s terrible that the owners of the units fight against spending money to repair the building unless forced to by the law.

[@user-Luv-U2]

@@neilkurzman4907 I subbed 𝐓𝐚𝐬𝐭𝐲 𝐏𝐞𝐚𝐧𝐮𝐭 🥜

[@TommyTomTompkins]

I'd like to be a fly on the wall....

[@huckfin1598]

All these condo owners purposefully didn't do maintenance and kept their fees low. This is what happens. At the end of the day they can always sell and get out.

[@dquan731]

These homeowners are funny. They defer all maintenance fees and they cry to the govt when it comes time to collect the necessary fees to fix their own building to which they should have been paying for. Pass the costs to taxpayers? Hilarious.

[@zatosan729]

The banks, car companies, and AIG asked for money in 2008 so they are looking for the same treatment.

[@PianoMatronNeeNee]

Big win for Developers

[@neilkurzman4907]

And a small one for those people. They’re building is less than worthless. They’re lucky that somebody bought the land from them otherwise they would get nothing.

[@urbnfusionteam3200]

County works with developers not residents. Regular condo owners don't bring profits. Developers do.

[@GigaChad_169]

Residents are responsible for maintaining their property. That has nothing to do with the County.

[@jackwilson3121]

Why should condo owners get relief? I am glad that I don't live in Florida? I have owned my current house in Iowa for 45 years & do any repairs as needed.

[@poollife777]

Who the freak cares I live in Florida and I haven't had any maintenance either because it all depends on where you live and I live in a home. You don't live here so your comment doesn't make any difference except for you to like to brag like who would freaking want to live in Iowa when I live in Florida where the sun shines. Go get a social life.

[@johntorres4573]

Construction of these facilities has been sub standard,sorry to the people who bought them,you can’t sale it now

[@francismarion6400]

It's the people who bought them that are to blame.

[@huckfin1598]

They can sell the whole building. Only saving grace

[@allergyahead8128]

All those past beautiful sunsets family and friends loved from our huge balcony.Can we get the government to help us pay for more of those??

[@719diesel]

someone please tell me, how all these buildings were allowed to get so run down. ? Who has been doing the inspections the last 20 years...huh? Maybe the City should pay for neglect!

[@mrjonathank92]

It’s not the cities problem. All those people neglected to maintain their properties. They think just because they’re in a condo that repairs and maintenance are optional. They kicked the can down the road now here we are.

[@719diesel]

..the can has definitely been kicked down the road...for sure

[@vulcan2882]

The owners of the condos are the ones who need to make all the repairs not the city, condo buildings are private property.

[@exoressdelivers70]

​@@mrjonathank92It makes sense to kick the can down the road depending on how old you are,. If you're 75 years old and they say that your condo roof is going to need replacing in about twenty years but you need to start paying now, why would you? You'd be probably dead by the time that roof needs replacing and you won't benefit from your payments.

[@francismarion6400]

It was the cheap NY Democrat owners fault.

[@denialphasebitcoin5639]

Developers and thief's Are circling the wagons

[@GD-ru7xr]

Owners who refused to vote for repairs and to fund reserves for years.

[@AMXhotrod]

Life under GOP rule, where decades of no oversight has led to this. You voted for it Floridians!

[@weareallamericans7358]

Never buy Waterfront !🙄! Century Village Pembroke Pines Well Maintained so No Issues 😇👍

[@niquinaringo5026]

My parents used to own a unit there in the V building on 128th Terrace. Bought it back in 1988. I kind of miss visiting there.

[@weareallamericans7358]

@niquinaringo5026 it's a surprising Oasis in the ❤️ of Pembroke Pines. We're on 5th Court in Building M. Shopping for everything you could ever need right off i-75 at Pines Blvd. Great shuttle service inside plus links up with Broward transportation at the 135,000 square foot clubhouse. Wish we had discovered Century Village much sooner 😎👍

[@RedfishGB]

There are houses neglected for 40 years that sell for land value, this is no different. I was in a HOA that argued about a $50/year fee increase. If you are in a HOA you are at the mercy of the voting members. Live with some penny pinchers and you go down with the ship.

[@navajojohn9448]

Transfer of wealth. People stuck in buildings can't afford to fix and have to sell cheap so the rich the can take their spot in a new building.

[@Attalla2023]

You bought the lie now live with it

[@blaydCA]

Saltwater and any construction materials eventually lead to degradation. Lack of maintenance just speeds it up.

[@poollife777]

Really like nobody ever freaking knew that like it even needed to be said.

[@blaydCA]

@poollife777 Looks like Butter Cup got triggered! LoL

[@davidwright873]

it seems like a land grab to me....I dunno...4 million in repairs? hm...

[@mE-zx7pt]

Same here. They're going to decide all the older buildings need to be torn down & sell it to luxury developers.

[@davidwright873]

@@mE-zx7pt exactly....make people move out and they move in!! what a strategy...

[@garystar1592]

They should move the unhoused into these condemned beach front properties rather than have them up and down federal "high"way

[@danfortinjr5388]

When condo associations don’t do what they should have been doing for years. This is the result.

[@neilkurzman4907]

Not just the condo associations. The owners themselves would often vote against expensive repairs. Or even normal repairs

[@EM-re5xq]

Why would the county help? Irresponsible HOAs.

[@jspotmusic]

I was so close to buying a Miami condo a few years back.. so glad I didn’t

[@TommyTomTompkins]

Your mouth would of been twisted RN if you bought one...bout the stroke out from the stress and duress

[@hammertyme8392]

I lived in Florida for 40yrs. Brought a condo back in 92 and sold it in 2002. I saw this coming 25yrs ago.

[@poollife777]

Oh crap you just moved so you can make a little money and do something. Seriously you can't have a premonition and if you did who cares that was 25 years ago.

[@theblade9024]

Build on sand at a time of lax enforcement during construction and years later you have a building sinking. Just walk away.

[@scasey1960]

These laws have always been on the books but we’re never enforced!! Think on the money people saved by deferred maintenance! Now the buildings are unlivable. Nice going Tallahassee !!

[@neilkurzman4907]

No, in Florida, you were actually allowed to vote to not keep any reserves. And the building didn’t have to be inspected until it was 40 years old. Before then, no reserves and let the building rot was perfectly legal.

[@matth7448]

Greedy boomers kicked the can down the road not doing any repairs and now want us to feel bad for them… pay for the repairs with the equity in your condos…

[@WilliamHidajat]

It is quite shocking for owners to learn that they need to pay for such expensive damages in the first place

[@bigbadbubba099]

Much cheaper to rent and leave this crap to the owners😂

[@bobblacka918]

Cheaper to rent now, but where is the big payoff when you sell? You could spent $25,000/year over 20 years for rent, but if you put that $500,000 into a house, that house will pay you back probably $950,000 after 20 years if you sell. You get nothing back if you rent.

[@carguy6512]

You forgot to mention all the interest you pay on your mortgage, as well as the property taxes, and maintenance. You don't really get it back...

[@pkal244]

​@@carguy6512agreed. If you run the numbers with a 6.9% interest rate, you would actually come out on top renting and investing the difference over 30 years. You'd have enough to buy the house you want in cash. Realtors and loan officers will never tell you that though, and home owners are blind after spending so much $$$ on their property.

[@bobblacka918]

@@carguy6512 : I bought a house on the beach back in 2001 for $125K. It was just appraised for $895K. That more than covers all the taxes and maintenance and still leaves me a big windfall.

[@same5952]

These people ARE the owners who chose not to maintain the building where they own a unit. Stupid and I don't feel sorry for their current predicament.

[@jpcaretta8847]

Amusing ! People bragg about the profits they made in real estate but cry when they loose ! Saving on maintenance is suicidal Some win, other loose ! This is life.

[@jsd354]

My shock is that the condo owners are shocked. I live in a single family home I own. The last 2 years I replaced the roof, rebuilt the bulkhead, updated one of the baths, replaced some rotten wood, replaced some of the electrical wiring, painted the inside and outside and replaced the kitchen cabinets and countertops. I paid appx 155k in total. If I’d set aside a couple hundred a month when all these repairs were done I’d a been $100,000 short too. Sorry guys, that’s the cost of housing. I could shock you further by telling you after you have your car 10 years there are a lot of repairs as well or you have to replace it. Stop whining and grow up. Oh, and it isn’t the legislatures fault or the governor’s fault. People are pitiful.

[@ADRAPropertyManagementInc-d2g]

Accountability is lacking and hardwired protective measures is need too be in place for the association’s management of the association property and components to protect the association’s interest and prevent exposing the association to unnecessary risks. We observe even in this current climate board members routinely making major funding pr project authorization decisions without consulting their core guiding vendors such as the association’s board counsel, insurance agent and property management firm. The consequence of not properly vetting vendors, proposals and subsequent contracts and confirming source of project funding is dire a Can be perceived as negligence by the association board on casting out their fiduciary responsibilities. Residents must stay vigilant and stay on top of all decisions being made and attend their board meetings to ask questions and be informed.

[@crinklecut3790]

These peoples’ retirement dreams have turned into absolute nightmares. Shame on you Florida. You should have seen these problems coming decades ago.

[@RemboUSMC]

Decades of neglect in order to keep the costs down will eventually catch up with you.

[@poollife777]

Really that's the same as anything like a car your body whatever. Why do you people think you need to say something that is so obvious. Again thank you Captain obvious.

[@grmmjhnsn2]

Is this like buying a Mercedes but eventually realizing you can't afford repairs?

[@ahanna4396]

Very good decision Corporation

[@mark33328]

Smart owners. Don’t pay for repairs. Tear it down and rebuild, or sell it.

[@PIPEBITE]

And a “developer” just too happy to buy it. I discern a pattern here. A pattern that points to a very simple plan.

[@GigaChad_169]

Maintain your building and this won’t be a problem. There is no conspiracy, just consequences. Create an unsafe living situation with a poorly maintained building and be prepared for a developer to swoop in and buy it out from under you for practically nothing since a building that doesn’t meet safety code is worthless anyway…

[@PIPEBITE]

@ I’m just pointing out that the crisis was timely. Everyone paid monthly to the association while the condo laws long prevented waste, fraud and mismanagement to be investigated and corrected until it was too late. Case in point is the incredibly notorious Hammocks association. We were able to prevent that in the condo complex in which I live. But it all depends on the people running the association and the efforts of the owners to defend themselves with an imperfect set of condominium laws and regulations that aid and abet the wrongdoers. They say that’s finally changing. I hope so but I don’t see it too clearly.

[@stockey]

And after the assessment, you need to pay skyrocketing HAO fees.

[@poollife777]

Well aren't you just nice for explaining to the people what they need to do. Let's all give you a clap.

[@poollife777]

And by the way what is an hao? I thought they were talking about HOA.

[@pumpupjam9648]

Well I see homes and condos on the beach or near the ocean, the ocean can deteriorate the building. Corrosion in the worst possible way. And selling to investors, what a joke. They will not fix anything they have to waste their money on. They will rent those units out at e extreme prices!

[@johnholmes914]

Ha ha kicked the bucket for Decades.

[@higgs923]

The deadbeat condo owners neglected maintenance for years and now they want a bailout.

[@mbuccil1]

Not the responsibility of single family homeowner taxpayers. We pay for our buildings, we don't want to pay for your buildings yearsbof neglect to lower your hoa dues.

[@anthonykence9954]

Condos are nightmares now

[@johnholmes914]

Ha ha kicked the bucket for Decades. not counties fault. Owners fault. Managed mine for 17 years no bucket! In the black. real estate such as buildings deteriorated

[@dixiebrick]

I feel so badly for these people. NOT!

[@kayamann321]

When we collectively decide to ignore maintenance and hoard money, problems will occur…

[@bigbadbubba099]

How can they sell that place?

[@GigaChad_169]

A developer will buy it for pennies on the dollar and foot the cost to demolish the building and put something up that meets code.

[@navajojohn9448]

Are hotels, apartment buildings, office buildings, commercial buildings all subject to the same rules? Are there any states in the country needing to do the same or is it just Florida construction and oversight has been crap for decades?

[@poollife777]

I'm going to direct this at you because when I asked questions I actually like to direct it out of human. Why are you asking all these freaking questions and then answering yourself? Why don't you just say nothing.

[@poollife777]

Oops I'm sorry you did say nothing.

[@deborahschumann8286]

These condo owners voted for years..decades…to not fund inspections or repairs. Now they want everyone else to pay. This was not an unforeseen event. No one believes that inspections and repairs just magically take care of themselves. I saw this happening with my condos back in 2015….I got out of Florida. Everywhere else I have had condos (Massachusetts, NY, NJ, DE)…the associations are required to maintain separate funds for each of these known events….like you know you need a new roof every 15 years, so you are required to collect 1/180th of the estimated cost every month and put it away in a reserve fund account. Same with inspections, parking lots, etc. so..now it is a big pile of money because NO RESERVES were ever collected. Complain all you want about “blue states” …but, they know that businesses will never police themselves…or even act responsible without government forcing them to.

[@CharlesCurran-m9p]

So who would buy a condo that needed millions in repair?

[@same5952]

Developer. They'll buy it cheap for that reason, take it down and build new luxury condos. Win-win.

[@Haitiancowboyhtx]

This is a developers dream. What’s happening in South Florida

[@poollife777]

Wow you people have so much insight it's unbelievable who freaking cares. You're just another opinion.

[@poollife777]

I don't think any developer would dream of wanting to tear down a freaking whole condo and rebuild. They'd rather find land and there's plenty.

[@MS-ty8eq]

The Boomers lived in these condos since forever and never paid for the maintenance long term. I hope they all move right out of Florida. They have pigged out for 40 years at the expense of future generations. But that's the generations motto. Mine mine mine!!!

[@diegoflores9237]

Calm down son, don't talk about your parents and grandparents like that

[@jamesmay5860]

​@@diegoflores9237..you arrogant cockbag

[@MikiCab1]

Fire sale. People are going to get rich buying these buildings are rock bottom prices.

[@jackwilson1818]

Did Larry Silverstein triple-insure the Surfside condo building 2 weeks before it “collapsed?”

[@Gn777-rk5kg]

I was so close to buy a condo. But I keep hearing horrible things specially HOA is greedy. I so glad I did not buy one.

[@neilkurzman4907]

I’ve lived in a condo for over 30 years. I keep hearing horrible things too from people who don’t live in condos

[@carymarshallfelton9188]

All those northerners tricked into moving down there during Covid. Florida has been running that game since the days of Henry Flagler, Henry Plant and Hamilton Disston.

[@VejjieHolt]

Collapse or controlled demolition?

[@ljacobs357]

Why is it just Florida.

[@im4udevco]

If everyone is selling, who's going to buy?

[@kathleenalbright3908]

These condos will be torn down and more condos built that are up to code. The newer condos should last 30 or 40 years until they're washed away by the waves.

[@GigaChad_169]

Developers will buy for pennies on the dollar and put a new building up and make lots of money. The consequences of not maintaining your property, you lose it.

[@stevemanieri5409]

Combination of shoddy construction and local government looking the other way. This is what you get.

[@neilkurzman4907]

You forgot the combination of not doing any maintenance for decades.

[@urbnfusionteam3200]

Some one really pissed at mom and dad or grandpa and grandma!!!

[@bradbradshaw-i4n]

they knew this was going to happen 3 years ago.

[@DavidMcCalla]

What's the odds a developer ready to buy all the buildings They been to investigate the company's coming out handing out the fines

[@rea8755]

This is the plan: bring on the developers... 😮

[@poollife777]

Yeah developer just wants to tear down and dispose of big old giant condos everybody dreams about that. Why look for empty property.

[@lordbyron3603]

Your “ dream life “ is over ! You though you were lucky to be living in a luxurious condo , near the water, sun drenched weather every day , no worries , no care , just laying out on the beach soaking in the sun and so on and so forth . You should know by now that nothing in this world lasts !

[@carlosponchio1869]

basically, how much the land is worth? split the money and get out of Florida.

[@neilkurzman4907]

That’s exactly what happened

[@jaykay3835]

😂😂😂 this inadvertently makes the market a developer’s dream!!

[@guybeingaguy]

You’re not wrong.

[@poollife777]

What a stupid thing to say and get rid of those stupid emojis.

[@jaykay3835]

@ 😂😂😂 are you on your period babe?? Or is it menopause?

[@guybeingaguy]

Nobody cares. You bought it 🤷‍♀️

[@gregorymoore8463]

File bankruptcy, walk away, go live with your kids

[@TommyTomTompkins]

They don't want their tail living up in the house....

[@neilkurzman4907]

The guy in this one was able to sell to a developer who thought the property itself had some value. That’s what happened to Surfside

[@Attalla2023]

But I thought it was your home, but I guess it really isn't. Who could have guessed

[@TommyTomTompkins]

0:00 is that Luigi?

[@user-qs4uc2no3g]

Build on sand ,never should.

[@rontheoracle]

It'll be more affordable to just abandone the place and move to another city.

[@neilkurzman4907]

That’s exactly what they did. They sold the building to a developer who’s going to level it and put a new one there. The building they neglected for all those years is now less than worthless

[@davy-q3g]

Scamming the seniors in their old age.

[@alan-light]

It’s the residents who wanted low association fees who are at fault. They push off repairs for years until finally there is a big special assessment needed.

[@GigaChad_169]

More like the seniors scammed themselves by thinking they didn’t have to maintain their building.

[@TommyTomTompkins]

In Memphis we call it poppin 'kon

[@Rich-lu6pd]

This is what happens when owners vote to keep the fees low.

[@seymorefact4333]

😂🤣 DUHHHHH! I'm surprised it wasn't 4 times as much! Ignoring maintenance for decades...living by the sea. Hurricanes every year. Wondering why insurance was so low for decades and decades?!!! i'd visit, NEVER BUY IN FL!

[@poollife777]

Please don't you can't even write a proper sentence and we don't need you. And if you're ridiculous enough to think that everybody lives in a freaking condo in Florida on the ocean you are totally brainless.

[@michaelWells-ef9bx]

=Make America Florida? .... what did we do to you ?