"I can't afford it': South Florida condo owners hit with 6-figure assessments due to new Florida law

Some South Florida condo owners are being hit with six-figure assessments that are forcing them to flee.

[@jeremybaldwin2840]

“Owning” a condo is a ticking bomb.

[@guymerritt4860]

I've always thought the idea that you could own a piece of a building...and not own the land, etc.....was a dangeroously screwball concept. It's a lot like having a mobile home in a park. The bottom line is that, for all practical purposes, you're renting. I had a friend argue with me over this idea - the guy has plenty of money but rents a house. His argument was that you "never own a home" because of property taxes. A local government can't get away with raising property taxes insanely. The taxes on my house haven't changed as much as $100 in 38 years.

[@karmasutra4774]

@@guymerritt4860my property tax goes up about 6-7% a year and insurance too. How can your tax not have gone up in 38 years more than 100 anywhere? After Covid everything went up

[@guymerritt4860]

@@karmasutra4774 My wife says I'm wrong - she said they've gone up about $250 - mostly because we remodeled the house. We pay a little over $800 and years ago, as best we can recall, they were a little less than $600. But, again, they went up (mostly) because we remodeled the house and the assessment went up. Covid did not effect our property taxes (????). Why ours really haven't moved, for years (again, the remodeling really raised the value of the house) I have no idea. The house is almost 2,000 sq. ft and it's in a rural area of Michigan - a few miles outside a town of about 20,000 people. How did Covid raise your taxes? We damned near doubled the value of our home, so, by my calculations our taxes really haven't moved. Again: The government cannot get away with raising property taxes insanely like some HOA can screw people. You really, really never own a condo in the same way you can own a house on land. Nobody's ever gonna show up and say, "Give us 75 grand or a quarter-of-a-millions buck or get out" - that's insane and it can happen in these damned condos.

[@billgreen1861]

​@@guymerritt4860 Just, you wait and see if you think the same way when property taxes come around in, July. There are big changes in the tax structure coming your way.

[@eligreg99]

@@guymerritt4860You must not live in a city.

[@jimnora1705]

It's a waterfront condo. A developer will buy the entire property for pennys on the dollar, tear it all down and put up a new building with units priced in the millions.

[@mcp4y2k]

as it should be

[@same5952]

The only thing that makes sense.

[@thegoober8797]

@@mcp4y2kabsolutely based

[@flockofone9214]

Exactly.

[@neeramalhan8724]

That's exactly what they r-- planning to do,in every city ! 😟

[@32stevo]

700k+ for lanscaping and they claim they arent trying to steal peoples money?? wtf

[@blairhoughton7918]

Look at it again. The 700k is the elevator line.

[@32stevo]

@@blairhoughton7918 1:32, 151k + 600k its two seperate bills for two different condos in the same place.

[@malachi-]

Can you say, kickbacks?

[@jasons2562]

@@blairhoughton7918 The elevator line or general modernization? Doesnt this board of directors have a property management company and a maintenance guy assigned to the property? SOme people didnt seem to have a clue how to manage a building.

[@blairhoughton7918]

@@jasons2562 People are getting the 700k number from a shot of the breakdown of the costs that was shown in the video. The landscaping cost is low five figures, but on the line just above that is the elevator rehab cost which is $685,000. If there's an actual number that says $700,000 exactly then the error gets weirder.

[@roginutah]

If there's an HOA, you need to pass on it.

[@Mike__B]

The problem is as a condo there kind of needs to be one, otherwise who keeps up maintenance on anything in the condo area? the landscaping? the roadways? Condo's are special pieces of real estate where you own the rooms inside the front door but you don't own any of the property around it, hell the structure that holds it together technically isn't yours either.

[@roginutah]

@@Mike__B True, and easy to see. But you (nearly) invariably get bad people in the management. And almost always with different values than your own. I guess if you're ok with someone else telling you how to live, then it's fine.

[@Tugela60]

​@@roginutahThat does not change the fact that they are necessary in a condo.

[@Scott-fy7fm]

​@@roginutah That's not really true at all. Nothonlt are they literally required for condos, but many if not most condo assc's are for single buildings meaning the only management is the few owners, it's not nearly as difficult as dealing with a whole condo community

[@charlesritter6640]

THIS IS WHY you should AVOID HOAS at all costs, PERIOD!

[@d.c.3220]

Most condos in FL are HOA run. Hard to avoid.

[@troybell4974]

They came up with a way to rob the retired who made their purchase of the property years ago! Big money scams to rob people of their life profit! Buy the property change the fees and tell the tenants do what I say and your profits die!

[@angeltomlinson6354]

@@d.c.3220so steer away from condos 😂 otherwise you’re asking for it

[@shawnl3151]

Have to have one cuz you share a building. Who’s gonna maintain the building

[@charlesritter6640]

@@shawnl3151 buy houses only.

3000 HOA get the heck outta here even $1500 is ridiculous.

[@ajax7ox729]

Well it dose not effect you so why do you care

[@UncleDavesKitchen]

I've been in my condo since 1978 in beautiful Sedona, Arizona. Our HOA fee I $235 after all these decades. We do the work when it needs done.

[@WhatsupPattaya]

$1500 a month gets you an ocean view in Thailand

[@TechSyndicate83]

HOAs are a JOKE.

[@redbaron6805]

@@TechSyndicate83 How else are you going to run a building with multiple units genius....?

[@russellzigler2180]

This is absolutely criminal.

[@donarthiazi2443]

🥱

[@oldrustycars]

What's criminal is Florida allowed condos to have zero oversight. Remember the condo building that just fell down a couple years ago?

[@davidwright873]

Is it? where does the money come from? If you sell a condo for 230,ooo and the cost of maintaining the whole of it quadruples, Where does the money come from? it's all very odd to me for sure...

[@morrigan908]

This spells out why the first thing I told my realtor when I started looking for a new house was, "Absolutely no HOA's." I refuse to have a board of bullies randomly charge me money or tell me what I can or cannot build on my property.

[@blackwoodbat]

These massive assessments will lead to more fraud, bribes, and embezzlement as well.

[@faywhite7886]

Palms will be greased

[@mrparts]

There’s a reason for this assessment: Their HOA didn’t collect enough reserves over 40 years, and now the bill is due. They need to pay six million dollars now to replace all the roofs and fix all the exterior walls.

[@olivermiller3720]

Not exactly a black and white issue. Buildings need to be maintained or it could endanger the occupants

[@cdpcullman]

More like Foreclosures!

[@Gregory-Masovutch]

Plus millions in sinking fund reserves for litigation

[@victorjones7071]

That is exactly why I would never buy a condo or townhome.

[@jvees7916]

Cool stay in the cornfields then

[@victorjones7071]

@@jvees7916 there are non HOA properties everywhere.

[@nosonoliento]

I'd rather live in a trailer in a cornfield than be in a place that supposedly I own and but someone else has the last word on paying assessments and fees and whatever else they can think up.

[@victorjones7071]

@@nosonoliento 💯💥 Truer words have never been spoken.

[@dissident112]

I just don't plan trust human nature. Human beings are stealing people's money to pad their own pockets so they can do "something for nothing" ... the entire US system in 2024 is based on parasites sucking off it. Blowing up asset bubbles using quantitative easing to pad the pockets of the investor class. The top and bottom suck from the middle class. They are, by definition, parasites.

[@projectkj7643]

Over $200K?!! They are trying to STEAL his home!

[@Tina-mt9cl]

Those condos are literally all worth nothing. I'm talking $1 each... With assessments like that and the $3k a month in fee's you can get a much larger and nicer luxury home and rent a slip for your sports yacht a few miles away at the marina. They are paying the full price of the what the condo's would be worth just in monthly fee's and then the assessments make it to where even if you bought for $1 it still wouldn't be a wise financial decision.

[@alexarzamendi9475]

It's a condo, not a home. It's the equivalent of living in an apartment and calling it a "home".

[@beazerthesneeze]

Omgosh! Terrible to treat our retired elders this way. Society is broken

[@jackwilson3121]

No these are probably the same people who voted against making yearly repairs.

[@amyself6678]

No, our elders choose to elect idiot HOA board leaders, and choose to want ocean front docks and gazebos on stormy ocean. They choose this. Don't blame society for their choices. ...... Luckily most know it's not society to blame, idiot seniors make their own hell even if moan and whine.... I live in hills for cheap.

[@malcolmlove4602]

these people kicked the can down the road for decades, wanting low HOA fees and deferred maintenance.

[@hemidesign]

Blame DeSantis for all his new laws and crap

[@bilahn1198]

Never, I mean NEVER buy a condo!!! Especially in Florida, but actually anywhere.

[@44zeex]

My condo is fine. But where I live we have strict hoa laws.

[@mimi1o8]

@@44zeexnot Florida, I guess 😅

[@elizabethwitt2621]

Amen!

[@Anne--Marie]

It's those high rise condos that are the worst.

[@michaelkurchak5427]

In would not live in that sh** hole state

[@Joyful_Smiles]

"Well if you aren't able to pay then you shouldn't be living here!" is what has been told to low income workers for decades. That mentality is extremely toxic to a nation.

[@bhambhole]

💯

[@istankimjong-unbutcantstan3398]

Now the monster of greed, inflation and unaffordability is coming for them and their ivory towers.

[@lotusm7097]

Should not happen specially when they are older people!

[@tabbycat8511]

Really? How about “I am entitled to live here whether I can afford it or not”? Is that “toxic” … maybe? Here’s an idea: MOVE to where you can afford.

[@wownewstome6123]

@@tabbycat8511 We all need each other. Do you want a dental assistant working on you to be under slept due to a 2,5 hour commute due to rent being unreasonably high closer to work? ("What ever the market will bear" is a harmful standard.)

[@kingmo565]

Conduct an SGM (Special General Meeting) and vote the board out. Get signatures in place to start this process immediately.

[@LReno-di9cm]

Exactly!

[@jackiealmada1602]

No one will be able to afford living in that state.

[@Tugela60]

The main problem is that all these places have been deffering necessary repairs for decades.

[@thejils1669]

No one will be able to afford living...PERIOD.

[@Tugela60]

@@thejils1669 Well, to be more accurate, those who engage in hyperbole won't. The rest of us will.

[@thejils1669]

Doubtful...very doubtful. Living for EVERYBODY is a zero-sum game. If you are an unscrupulous money-plunderer, that behavior only goes so far.

[@stevep5293]

Paying $3,000 dollars a month for just condo fees is an owner with more dollars than sense.

[@PhilipDeLamarter]

They never thought that those fees might go up? C'mon!

[@SeanD808]

I've seen condos worth 3-4m with HOA fees of 6k a month :)

[@haydar378]

Yep they wanted to keep out low income folks

[@Gitn2it]

It seems that with such high HOA fees, the condo association would have a healthy reserve.

[@pembebulut2781]

It is more than my mortgage

[@user-rw311]

When they say real estate is a good investment they don't mean Florida condo buildings. He can't even give away his apartment 😂😂😂 3k a month in HOA fees for that apartment makes no sense

[@xavierd3298]

That is pure fruad. What goes through people's heads buying into a hoa. If people were smart and bankrupt them by never buying into there scam they would either go away or completely do a 360. I understand in gated communities, the guard has to get paid and some small lawn maintenance but some of these clown house owners are paying another mortgage in hoa fees. Can't respect stupid

[@doctorae724]

I fail to see how this is hilarious.

[@mofomoco]

3k a month should cover EVERYTHING but they are trying to get the equivalent of 20k per month for the last year ON TOP OF THE HOA FEES

[@LCx829]

My HOA is $315 a month and I complain. Imagine it being $3000? I wouldn’t even be able to afford that if I had to pay mortgage too.

[@ShittubeHatestheTruth]

Anyone in an HOA makes no sense.

[@tylagarcia4091]

That’s a damn shame nothing but greed, greed, greed in America 😮

[@jackwilson3121]

It is not greed but neglect

[@jerzecandy]

Monthly fees 3000 maintenance 36K per year. With the total number of units, where are those funds used? Why haven’t the HOA fees been used quarterly on updates instead of charging residents. 6 figure assessments due immediately. I’d get an underground tenant group together and sue for misappropriation of funds.

[@sarawilliam696]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[@Justinmeyer1000]

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[@brucemichelle5689.]

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[@KaurKhangura]

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[@brucemichelle5689.]

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[@KaurKhangura]

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[@isaac198428]

Phew! Buying a condominium or home in a HOA sounds like the worst home ownership experience every day. 😂

[@ulical]

I live in a community of sixteen upscale homes that has an HOA and it works for me. We don't have any amenities, except for a small playground, and the monthly HOA fee is $110 which covers lawn service and landscaping. The problem is not the HOA. It's living in a condo, where everyone is responsible for everyone else's issues and having all of these upscale amenities that cost a ton of money to maintain. In my HOA, every individual homeowner is responsible for his/her own house.

[@liz41596]

@@ulical Not even, the real problem here is not the fact that they don't have money in reserves to pay for those repairs they avoid for the past 20 years. Make sure your community has a reserve account in case a major repair needs to be done. If not, they will hit you with a special assessment like this condo to get the money for repairs.

[@ScarletAdhesive]

I've worked for apartment complex in Houston where some peopled owned their apartments and had an HOA. What a joke that is!

[@floridaredneck]

You never own a condo, even if you pay cash for it because it shares common walls, roofs, walkways, etc. You don't pay fees for something that belongs to you. Consider it an expensive apartment, because that's what it is. They just call it something different to make it sound fancy. Similar situation with a house. As long as there is mandatory insurance and taxes, you'll never truly own the property outright, you only own the right to live there and retain the right to sell or assign those rights to someone else.

[@user-ft4dg3hs8s]

It’s not. I lived in a condo community in WA state and while it didn’t appreciate in value like a single family home, I was able to sell it for 115% more than I paid for it. I didn’t want to pay rent and have nothing to show for it when I moved. While HOAs aren’t a great situation to live under, that’s what you get if you move into a multi housing complex. I joined the HOA board to make sure it didn’t go out of control and while we did have a special assessment, it really needed to done and actually increased the values of our homes. The situation in FL is very different than many other places and as the old real estate adage goes: Location, location, location…..

[@zetamale7952]

🤦‍♂ OMG!!! Who in their sane mind would retire in a condominium complex?!! Association fees are unpredictable.

[@user-gg4ur1vz3j]

This should be against the law!!!! It is sickening the way people are treated in regards to sky high payments!!!

[@latinhellas6383]

No, it's not due to a Florida law. It's due to years of neglecting to fund and perform regular maintenance; neglect becomes "special assessment", neglect becomes "having to do too much at once". All buildings deteriorate, there is no "we wouldn't be doing it if we didn't have to"; regular maintenance is not an option, you have to, periodically, on time, every time. Having said that, HOA/COA managers do engage in corrupt practices.

[@davidthaler7018]

Neglecting to fund was because the law allowed that. Now the law says you have to be fully funded, hence the assessments. You’re right though…underfunding means improvements/maintenance don’t get done proactively.

[@latinhellas6383]

@@davidthaler7018Thank you. I would point out that humans neglected to fund and perform first, and that he law came later: the law has always come _after_ humans do not do the right thing. The law is a human attempt to force humans to do the right thing, and even then the law does not always work because that's just how humans work, they are lawless first and then lawbreakers. Well, some of the time anyway; there are a lot of good people out there at least some of the time. Anyway, once the smoke clears from the affects of this law, the Florida condo market might become interesting again for certain buyers. All the best!

[@quacker998]

Well it is partly the law of not having to collect for emergency funds - which made the condos cheaper the buy - it’s a typical American ‘have it all now and the future be damned’ attitude

[@ajax7ox729]

Trump did it

[@elizabethwitt2621]

Especially in Floriduh. Most HOAs are corrupt because the entire state is corrupt. The bar is set very low down here.

[@johngraves6878]

Stay AWAY from HOA's. Avoid them like the plague. I have heard countless nightmare stories about this from all sorts of people -- including ourselves. I'm happy to stay in my single family home, thank you.

[@blairhoughton7918]

Eh. Just look at what the common property is and whether having that is worth the fee. And check out whether they're maintaining it, because it's coming out of your pocket if they don't.

[@sasfiremaiden840]

Agreed...I lived in a HOA regulated condo for 4 yrs. and it was a total nightmare!!!

[@JC-fd8ho]

@@sasfiremaiden840 what is wrong with them ?

[@MattH-wg7ou]

Or get on the board so you can have some influence to make it suck less.

[@RB-gt8bf]

Condo fees can be VERY different than and HOA. Usually with an HOA you take care of all your upkeep inside and outside. Condos tend to have Shared Walls and the owner only owns the inside and share the cost of upkeep for the outside and all other ammenities.

[@mintruth]

This is PURE evil...PERIOD!!!

[@jackwilson3121]

How is it evil? It is lack of yearly maintenance.

[@scarn3241]

That’s ridiculous and a disgrace to put the elderly in this position ….

[@lg206]

The elderly are the ones who drank the Kool-Aid and voted for allthis deregulation, Including in the construction industry. so now, you have all this cheaply built buildings in areas that were non-buildable to begin with. Be careful what you wish for, you might get it.

[@rickhammond2473]

They do not care they have no heart.

[@onceuponanexploration6048]

Our own citizens don’t matter just more profits for CEOs.

[@EroticOnion23]

"You will own nothing and be happy (or else)"

[@cheesecakefan4880]

Not just elderly, Anyone!

[@anotheran]

When condo maintenance has been so lax that it took a building to collapse before the state had to enact laws to force condo boards to take maintenance seriously.

[@dwshank]

That's what is lost here. They kicked that can down the road for decades, not wanting to raise anyone's fees. Now they have no choice. Pay me know or pay me later, and pay me later always costs more.

[@Tina-mt9cl]

Actually that event wasn't caused by a maintenance issue at all. That was a design flaw. There was a very very big architectural flaw/mistake that doomed that building from day 1. Unless you want to say Condo's need to be inspected more often, and inspectors should be able recognize engineering mistakes, ok, but that doesn't cost hardly anything. No, let me tell you, this has been used as an excuse by over zealous boards all over the State to spend exorbitant amounts rebuilding perfectly good structures just to improve a site's luxury and appearance under the guise of caring about safety...

[@3-2-1-.]

In 2010 my in laws sent me to a condo association meeting for their property in Destin, Florida. 10 stories high and maybe 50 units. All owners. The insurance broker at the meeting said that there were only three insurers covering coastal real estate in Florida, and all of them wanted out. They told him, that if one unit in a building has a mortgage, the entire building has to be insured. Otherwise, owners could self insure. They told him, because of this, we were required to pay for insurance, but the insurance companies openly told him that if there was a storm, and we had to make a claim, they would deny it. Let that sink in, for a moment. Lastly, who have these people been voting for their entire lives? Who are they still voting for? Actions have consequences.

[@zoel8048]

That is exactly what I was thinking !

[@marshallosantos9035]

You don’t know who they’re voting for. Look at California. People despise newsom. Yet he keeps getting elected. Most Californians I’ve met have actually been republican shockingly enough, yet the state is blue. The foolish out number the wise that’s all. Also we can’t fix what we don’t know about. Gather the people , inform them , and pressure your elected officials.

[@kurtkaster5666]

They're charging $957,000 for "maintenance" EVERY MONTH. That's $5532 AN HOUR. Owning something you don't own is the strangest thing to me.

[@AhlfieldMontalto]

I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible. I honestly don't understand why people don't move to another country when they get older in retirement. It seems everybody has excuses for almost anything to not take action to better their situation.

[@dilara4130]

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[@annemoore4461]

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[@dilara4130]

@annemore4461 Her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@TatomWyett]

Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

[@KemmerlingKrebsbach]

Abby Joseph Cohen hooked me up with a late-stage fund that got me in on private shares of some hot companies before they hit the market or blew up. Those investments totally paid off when the companies went public and their stocks shot up. Now, I'm stoked because I'm heading into retirement with almost a million bucks in my portfolio.

[@1969bones69]

You rent apartments...you don't buy them.

[@BrandonClark-StocksPassports]

BINGO !!!!!!!!!

[@blairhoughton7918]

You buy an apartment. You share costs on the building and grounds. It's not rent. It's society. If you want to pay less, don't buy in at the Paradise Ritz.

[@magpookie1133]

This is why I will never live in any home with an association.

[@fillmorehillmore8239]

Municipal governments can do the same thing. Jacking up property tax has the same outcome.

[@missmorena1049]

I heard 80% in America are HOA’s

[@geigertec5921]

Live in the woods, it's free.

[@wilsonv8487]

Maintenance HOA fees are scams

[@terrisatterfield6765]

So awful for those older people. That ia scary

[@liz41596]

This is what happens when people live in a building and ignore the need to save money for the repairs. I keep telling this to my parents condo association...they need to start collecting money for the reserve account. People think that repairs are going to magically happen with monopoly money. The board does not do what they want, they do what the owner allow them to. Keep missing meetings, don't read your documents, don't check Financials, and don't save for repairs, and this is what you get.

[@KB44444]

previous owners probably all voted down repairs over the years and finally this is what happens

[@liz41596]

@@KB44444 Yeap! It happens. That's why I always tell people to ask for financials when they are buying a property in an HOA or Condo. Check for Reserves; if there are none, run away as fast as you can from that property.

[@sjpavur]

And I’m not trying to defend the condo association board members, but most of them are volunteers and don’t necessarily have any knowledge in finance, engineering, or construction. They often meanwhile, but lack the knowledge to really handle the job.

[@azureavocado5195]

People have a finite amount of energy each day. A lot of that energy is allocated toward surviving and taking care of others. People do not have the energy to expend on frivolous BS like this.

[@kuebby]

@@azureavocado5195 If you consider taking care of your home to be "frivolous BS" then I will be short on sympathy when you end up without a home.

[@Far7rom]

That condo that collapsed is making many people very, very poor and few people very, very, very rich.

[@raydemos1181]

all by design

[@willburr5929]

Bingo. Republicans have invented another get rich quick scheme based on the misfortune of others.

[@surelyyoujokemeinfailure7531]

@@raydemos1181 Why explain with conspiracy what simple stupidity & laziness fully explains? The spending priorities at Surfside showed very clearly how it works. Folks installed plastic sheeting on the ceiling to keep that rusty water off their expensive cars down in the garage .. folks glitzed up the appearance of the building with marble everywhere .. folks voted against fully funding the engineering fixes .. and look what happened. Every condo board has members who simply don't want to pay much. No conspiracy necessary.

[@Anne--Marie]

@@surelyyoujokemeinfailure7531 People forget that much of the land west of the trail used to be part of the Gulf of Mexico. Developers filled in the area and created more waterfront land. Then they put high rises on the new land without the proper footing. DON'T BUY WEST OF THE TRAIL!

[@onno_vocks]

@@surelyyoujokemeinfailure7531 Stupidity? A law change can't really be predicted, and most of those folks are retirees with fixed incomes. When you are 30, simply go back to work, but when you are 60 that option becomes slimmer every day. Stupidity and laziness? Keep telling yourself that. It won't make a difference. It's 2007 again, only worse, much worse. Keep blaming the victims, as you always do, that's why it happens again. Did you check on property tax and insurance? Just those 2 items are forcing people out of free standing houses, no HOA involved.

[@ralphee7487]

I don't know what is the worst invention: Social Media or HOAs?

[@Ryan125y]

In Florida it was legal to neglect properties for decades.

[@user-dw1ls3rp1l]

This is the downside to low maintenance living. Houses have their problems as well, but at least you can choose to do most repairs your way and on your schedule.

[@bluoval3481]

Yep, foregoing maintenance on anything means you'll always pay more later. Try that with cars and marriage and see what happens.

[@user-dw1ls3rp1l]

@@bluoval3481 You're missing my point. You wouldn't want the freedom to take your car to the mechanic of your choice, instead of the one decided for you? Your mechanic might be cheaper than the one "selected" by the "HOA" with questionable motives and allegations of kickbacks.

[@bluoval3481]

@@user-dw1ls3rp1l I get your point. I went off-topic by taking living under an irresponsible HOA out of the equation and pointing out the fact that too many are living a low-maintenance existence in general. Ticks me off because they don't take care of what they have and then when all heck breaks apart they stare back like a deer in the headlight and are quick to blame.

[@shanet7511]

A special assessment should never reach 20% of a condo's value. Home repairs never cost that much. These places are ran by idiots.

[@bocariley3421]

The can has been kicked down the road for a long time. Repairs and maintenance are now mandated by law thanks to Surfside collapse in Miami.

[@BobSmith-mp8ld]

@@bocariley3421 This Most of these places have 2-3 decades of deferred maintenance, in many cases it would probably be cheaper to tear down the structure and start over.

[@elizabethwitt2621]

It's actually 50 percent of the value.

[@elizabethwitt2621]

​@@BobSmith-mp8ldAgreed. I've been saying this.

[@raydemos1181]

My non-HOA single family Home located in a non-flood zone is increasing in value by the day, it also has a city sewer and water lines, there are rules in buying in Florida that must be followed or you can end up in the Woods with all of the creatures

[@mrxman581]

That's terrible, especially for a retiree on a fixed income.

[@touchofgrey5372]

You couldn't GIVE me a condo! It's like an apartment only you pay for it with constantly increasing costs and there isn't much you can do about it!

[@blairhoughton7918]

Maintaining a house of your own with those amenities would actually be more expensive.

[@peterjack2323]

$700,000 alone for "landscaping", does not appear to be a "necessary" part of the assessment. That seems to be grounds for a lawsuit against the condo board for unreasonable actions, especially compounding the already difficult situation where some parts of the assessments are not optional, but required by state law. They could surely put off the "landscaping" until such time as the legal parts of the assessments are dealt with. The "dumping" of all these charges on the residents "all at once" appears to be a strategy to force out some folks at low-ball sale prices, by deliberately creating an atmosphere of panic among the financially weaker owners forcing fire sales.

[@karenc8773]

The landscaping should be kicked down the road while the HOA prioritizes projects from most needed to least needed

[@Fatman305]

They would be doing them a favor. Market is going for a serious correction, everything 30 to 40% off in most markets in US... I wish my wife wasn't so spoiled so we could sell house RIGHT NOW and lay low (cheap rental) for two years...

[@vision1707]

@@Fatman305 Unspoiled her !

[@briangasser973]

Did you see the yatchs in the picture? There maybe residents that want the building to be at a high standard. Not sure if all the landscaping was tonbe spent over 1 year, or if parking repavement/curbs count as landscaping too.

[@oldtwinsna8347]

What's worse is that the line items costs are going to "buddies" and not to the best bidder. It's the typical way HOAs operate.

[@georgeandy6923]

Sorry for those people affected by this! But whatever happens....DO NOT ALLOW TAXPAYER DOLLARS TO BE USED TO FIX THIS!!

[@richardreger6026]

U know goverment bail them out rest of us have no desire 2 live in paradise foot the bill wtf

[@willburr5929]

Why not? It's DeSatan and his cronies passing horrible laws that mandate HOAs to upgrade their properties all at once AND put aside even more money to cover future upgrades. Nobody can afford it so they are forced into the street.

[@onno_vocks]

Bail out the banks but not homeowners again? When millions of people go bankrupt and these properties are foreclosed, the bank will have to foot the bill or they have a bunch of real estate they can't sell. Considering the past, do you really expect the banks will take the loss? The value of condos will further deteriorate if the building sits partially empty and isn't maintained unless the bank pays the HOA fees for empty condos. If the bank goes bankrupt, who will then buy the condo while the bank goes through bankruptcy procedures. How many months will that take? No matter who bails out these home owners, it will cost you. Why? Because you live next door. I'd be buying elsewhere and save the $220k maintenance fee. Retirees are not geographically locked, they'll go where it's affordable. Mexico. Sta. Domingo. Costa Rica. Colombia. Isla de Margarita, Venezuela. Just to name a few.

[@blairhoughton7918]

​@@willburr5929They might be able to, but for whatever reason the condo won't let them finance it...

[@georgeandy6923]

@@onno_vocks I've got news for you...they will never use tax dollars to bail out the Individual Citizen! That is reserved for the Filthy Rich! Who do you think was "Saved" when Wall Street and The Banks were bailed out?? They won't even bail out Students who tried to better themselves by going to college, getting better jobs, and then contributing to the tax base with higher earning jobs!! So what makes you think that they are going to care about Retirees living on the Beach, and why should they!! But you definitely answered the question correctly!! These Condo Owners will just have to give up their units and Move! And yes, they may have to move to Another More Affordable Country. But then again,, lots of Retirees who can't afford to Own Expensive Condos are already doing just that, so these Luxury Condo Owners may have to do the same!!

[@abdul361]

Same issue in the UK, when you own an apartment the freeholder can pass on all costs for repairs and maintenance to you. Avoid apartments at all costs!!!!

[@rovermiles1]

The moral of the story is: "don't get a condo". This is pure insanity. They're retired and boom; you're on the verge of bankruptcy.

[@tomsimpson5317]

So sick of all the greed

[@Noneofyourbizniz1]

This all greed and the board collecting and pocketing the money for themselves. Disgusting

[@briangasser973]

​@@Noneofyourbizniz1maybe if you made reserve payments, you would be stuck paying for a new roof, elevator upgrades,... all at once

[@scrat8177]

'Merica!

[@jennfinan9246]

This is not greed. This is the result of years of not putting money aside to pay for significant expenses. The Board members who approved this got hit witht he same assessments as everyone else. ** You can pay me now or you can pay me latter. ** Guess what? It's later!

[@Carly-zl8do]

MAGA=Make America Greed Again.

[@doubleoseven273]

This is what happens when years of neglect have taken place

[@Fla5thgenTryMe]

Exactly. These delusional people always want to blame someone else but it's their own greed and ignorance. These same people moved here then complain about more construction etc.

[@RPlavo]

That’s the human way, and if I must say, the Republican way

[@concernedpatriot.2221]

No. This is what happens when years of theft have gone on.

[@faywhite7886]

No way there should be neglect at $1,500/mth maintenance.

[@mrparts]

@@faywhite7886too low, these are marina sea level properties, exposed to extremely high risk of flood and wind damage. These locations are only for the rich, not the middle class.

[@MrTwenty20video]

Now you get the greed problem all over the country. Imagine how it affects the majority of americans.

[@alexsteven.m6414]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@valeriepierre9778]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@edelineguillet2121]

Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.

[@bernisejedeon5888]

I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?

[@edelineguillet2121]

Her name is “Sharon Marissa Wolfe’” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@yolanderiche7476]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@argon62]

Time to leave Florida like I did.

[@bettyb1581]

Where did you go

[@Anne--Marie]

@@argon62 I wish that I could.

[@FloridaManConstruction]

Buh bye

[@DeadCat-42]

left in 2015 what a corrupt, backwards, ignorant state Florida is. It's a total mess. The people living inland subsidize.the insurance for the wealthy homes built in flood and hurricane zones on the beach. It's not cheap to have to constantly replace sand that washed away a d im tired of my tax money subsidizing the wealthy.

[@tcbellsz]

I left 9 years ago, thank goodness

[@Andy_puglife]

These condo owners kicked the can down the road for 30 years, what did they expect was going to happen? It's like not changing your car's oil and being surprised when the engine dies.

[@Floridaoutdoor]

Agreed

[@Aaron-ro7gz]

Exactly

[@halffull66]

Some people just don’t know about these things, or think things like this can happen. Not everyone is all knowing. I guarantee there is something in another area of life that has or will catch you by surprise.

[@BVN-TEXAS]

@@halffull66yes not everyone is all knowing but when it comes to buying your home you ned to ask questions. Also if you can afford to live in these buildings odds are you are not dumb. Most of these people are boomers who wanted to stick their head in the sand and when they died let the rest of the building figure it out. They rolled the dice that they would pass away before the building needed a lot of money in repairs.

[@MoreCoffeePlease.]

I don’t know a lot about HOA’s. Do the individual residents have a choice in the matter? (Regarding spending, who is hired for what, what is done and when, etc?)

[@tidycats151]

My argument is that it's impossible to do all of those projects simultaneously. Therefore the assessment is being charged in advance. The owners need to get attorneys involved. Start with safety issues only year one. Then vote on cosmetic changes each year. Florida condos are notorious for reacquiring units through sky high assessments for repairs that are never done.

[@mikej238]

Never ever own a condo.

[@kimberlysoto6864]

And this is why I continue to never ever want a condo. The assessment possibility and the maintenance that can be increased at any moment. You can have all that. Horrible.

[@tylerhansen99870]

Hoa dues can't be increased at any moment. The board and mgmt review a budget prior to the end of the fiscal year and vote it into affect. Special assessments can be levied anytime, but need to have approval by the board and mgmt prior to being issued

[@victorblock3421]

It all depends on the condition of structures and surrounding area. I live in the northeast in a condo for exactly 20 years. Before I bought I looked at, not only the financial condition, but normal monthy expenses of the condo. I looked at the roof structures and they were simple, uncomplicated. Nothing fancy, no tennis courts, pools, ect... I garages are simple, detached. When I moved in I was paying the same monthly maintenance fee as I am paying now, not one penny difference in 20 years. We did have to replace our rear porches, which are vital to the units and were original from 1965 and just plain wood. We did them slowly over about 14 years and just a guess, but probably paid a total around $10,000/unit over these 14 years and these proches will outlive all the residents. The only other major expense is coming up now and they are the roofs the assessment over maybe the next 5 years will be maybe $5,000/unit, maybe less because we have money saved in our reserves that comes from the monthly maintenance fee. These are reasonable costs you have to pay anywhere at a minimum, whether you live in a single family home or a condo and paying rent costs far more. You want amenities like pools, tennis courts, theaters, gyms, rec rooms, golf courses, .................... It will cost and in Aventura it costs like nowhere else and the place is built on drained swmp land. Someone has to pay. In Florida there are good alternatives, low cost Condos. Not always what people want but you get what you pay for.

[@jamesmac6679]

Owners got yachts and 500 sl They all flash cash Now pay the piper!

[@bellad1063]

The docks are rented maybe by the developers collection of the rent doesn’t benefit him, the owners could buy the right to rent it butttt maybe at 16 million at 7% interest. He has a condo there. Just a condo.

[@DistrustHumanz]

​@@bellad1063 Blah, blah, blah.... pull yourselves up by your bootstraps.

[@bellad1063]

@@DistrustHumanz roll tide

[@flockofone9214]

James, you sound jealous.

[@sjpavur]

Does it seem like that particular 80+ year old owner has a yacht??

[@maxpayne7419]

Translation: his condo fee should have been $3000 from the start. But residents and the board hid their heads in the sand - and you just can’t ignore maintenance on a home or condo. It catches up to you eventually. Buyers beware if the condo fee seems low - do your homework. There is likely a deficit and you’re going to have to pay up sooner or later.

[@RB-gt8bf]

There are difference between a Condo FEE and HOA Fee. I have owned in both types of communities. I would never desire to buy a Condo again. I only owned the inside. All the stuff outside the walls was shared that helped to drive the Condo Fee and all those special assessments for upkeep. My home with the HOA my HOA fee was only for the common areas and trash pickup. The owners are responsible for the upkeep of their homes. So Condo fees are completely different.

[@MEOWMIX305]

$500k for a 2/2 Condo with a $2200/month HOA????!!! Good luck with that Howard...sucks to be you!

[@jameylane1591]

He's getting hit with a special assessment for 1/2 the value of the unit.

[@prettygirlus9008]

😂😂😂

[@kevinrichardson8859]

Pure corruption...racket!!

[@bmwlane8834]

User-fb5...just say you are a stupid Drump lover without saying you are....what a loser!

[@miketuttle9319]

@@user-fb5pt7kw7l Yeah, but this is FL - Republicans run this state, try again

[@joeypwns]

This is a failure of the board and association... These types of things should be done over the years in small increments not in a lump sum, and most definitely not $700,000 in landscaping get the f out of here!

[@blairhoughton7918]

The landscaping is in 700,000. The elevator is 700,000. Look at it again.

[@michaelrider1024]

This is Florida, the only thing good in Florida is the sign that says, "you are now leaving Florida".

[@sloopy5191]

Why is it we hear nothing good coming out of Florida?

[@davidthaler7018]

This is what happens when you allow condo associations to remain underfunded; improvements don’t get made proactively and when one building “fails” and dozens of people die, the bill (literally) comes due for everyone.

[@jameylane1591]

Better recall that board before the end of the year, and they sign anything. Those costs need to be reviewed. Get other estimates and find a new engineer.

[@adammiller8752]

700k for landscaping seem way to low to me your right

[@jagpilotohio]

It’s literally impossible that these numbers are realistic. The board is utterly inept or flat out scamming everyone and taking bribes to accept nonsense bids.

[@Howiefaam31459]

You can recall the board but with the laws on the book, the assessments won’t go away. Good luck with the new board.

[@jameylane1591]

@@Howiefaam31459 It depends on if it's voted on or not. I think it's just proposed at this point. So there is a potential to fix it if there is a fix.

[@elizabethwitt2621]

Even if they find that they were over assessed, how much is it really going to come down?

[@TKKrueger-py5jb]

I'm 71, crippled and have been homeless for 3 years - yet this putz is griping 🙄🤣😆🤡

[@virtuitousvampire9371]

That you are in this state when no other democratic nation does this to their elderly says a lot about the USA.

[@samfurman8432]

I live in Florida in a trailer self insure, self repair, sleep like a baby life is good. Gov hates trailers they get less taxes.

[@benlevy48]

Yes hopefully a hurricane 🌀 or 🌪️ never takes the trailer like Dorothy and Toto. Mobile home residents have higher exposure to natural hazards such as wind and tornadoes, hurricanes, extreme heat, wildfires and flooding compared to those who live in other types of housing.

[@blairhoughton7918]

Sleep like a baby... in hurricane season...

[@JaymeSplendid]

I hear hurricanes also hate trailers too almost as much as floods but to be honest, I've never heard a flood say anything bad towards trailers before but then again, floods aren't a hive mind and you can't base an opinion on all due to the actions of a few.

[@galaxyglitterlatte4664]

But what about the cost of leasing the land? Or do you own the land?

[@dontbanmebrodontbanme5403]

I thank GOD every day that I own a house controlled by be and only me. Imagine being an elderly person and being told you've somehow gotta come up with $200k+? I have no idea how these people get out of this.

[@blairhoughton7918]

They sell to someone even dumber. And make them pay the assessment. It's work, but there's someone out there. Russians laundering money, possibly.

[@jackprecip5389]

Don't kid yourself, the city/county/state can reassess your property and give you a huge new property tax bill, they can vote to raise school taxes 1000% even though you have no children, the EPA can declare a creek in your back yard as a protected waterway and remove you from the premises, and a developer can want your whole block for luxurious office space or apartments, and the town or state can employ eminent domain and force you to sell. Not to mention, you better hope some rare species of groundhog or an ancient Indian burial ground isn't near your property, because you could be forcefully removed with those scenarios too.

[@stephensawer6425]

And our property taxes have also gone up substantially. You can't win.

[@dontbanmebrodontbanme5403]

@@jackprecip5389 Hahaha... Oh wait, you're serious??? Please show me an example anywhere in the US of someone's school tax bill going up 1,000%. The EPA can declare I have a creek in my backyard???? Sure and a meteor can hit my home too!!! 😂 First off, everything you described CAN ALSO HAPPEN TO SOMEONE LIVING IN A CONTROLLED LIVING SITUATION! So in your imaginary situation that will never happen you can have a 1,000% school tax assessment AND a condo board tell you you need to come up with $200k! You're acting as though living in a controlled living situation shields you from the imaginary scenarios you came up with. They don't! I guess you live in an HOA/condo board situation and you're somehow trying to convince yourself you're in a better situation than I am and all I can do is LAAAAUUUUUGGGGGGHHHHHH! I'd rather live in an apartment than pay a mortgage and still have an outside governing body tell me what I can and can't do to my home while also coming up with surprise $200k bills. You like that? Be my guest! I'll just sit her and laugh at you some more! 😂🤣😂🤣😂🤣😂🤣

[@dontbanmebrodontbanme5403]

@@stephensawer6425 My property taxes haven't gone up $200k!!! I'm winning a heck of a lot more than the people in this video! 😂🤣😂🤣😂🤣

[@corinnemcleod1804]

In Canada a special assessment cannot be put in place without a 65% condo owners approval. All of those repairs and charges do not need to be done all at once. That special assessment is crazy.

[@seanmoore7207]

I feel bad for the owners but apparently lessons learned from 2008 - 2012 were forgotten. Townhouses and condos are risky purchases. You never truly own them and their will ALWAYS be circumstances beyond your control that make these properties stupid to buy. I dont know how many of these condos survive in the short run. Property owners are probably going to have to sell for pennies on the dollar to get rid of these, new buyers pay the assessments and then eventually 5 -10 years later things stabilize. But note to young buyers out there. NEVER buy a condo or townhouse! If you want to own a home buy a single family house or continue to rent.

[@BrandonClark-StocksPassports]

Bingo You and I seem to be the only people who understands this

[@blairhoughton7918]

Most single family houses in Florida are in planned communities and have HOAs. The truth is if you're buying in a community, you're not buying just your house, but also a share of the common areas and a share of the costs of those common areas. As long as you understand that and your neighbors understand that and everybody deals with ownership of those common areas, the same as ownership of their own homes, and know from the beginning that they can afford it, then there shouldn't be a problem. It's when you get people who don't actually pay attention to what they're buying and then think that they shouldn't have to share in the cost of what they own that you get dysfunctional associations, lax maintenance, and big repair bills.

[@whickervision742]

Single family homes aren't a good purchase lately either, in case you've been living under a rock.

[@charlestheodoreheissman8418]

Thank a real-estate lobbyist.

[@Fla5thgenTryMe]

Thank the commie dems. People are fleeing their states by the 100k plus all the illegals they are letting in.

[@mrparts]

The Florida delusion of living for cheap in a condo is over. Despite the denialism from republicans, capitalism is working as intended pricing people out of areas that cannot be insured for cheap.

[@Aaron-ro7gz]

Definitely

[@charlestheodoreheissman8418]

All HOA's and trade associations are owned by lawyers. FYI

[@lextacy2008]

@@charlestheodoreheissman8418 And that makes it better?

[@AMYV3]

I’ve been a hard working mom who left an abusive husband of 15 years. Attempted murder trial etc.we hid from one shelter to another before the trial. But now I can’t even afford to live. And I was truly better back then. Can’t believe I’m saying that. I plan on making sure my adult sons have my 19 year old daughter to support her so I can leave this world. Not because I want too. But because I can’t afford to live. I can’t work any harder with 3 jobs at 50. I used to believe you have no right to take your life if a parent but I’m in an impossible situation where I see no other choice. I want to be here. Don’t ever think I don’t.but the elite have won !!

[@donnawanna9833]

Six figures is a poor description, it could be $100,000 or $999,999

[@pmeehan_3]

That whole board needs to be voted out. You don't do this to someone. Very poor budgeting.

[@mattk8810]

They stealing

[@donarthiazi2443]

Meh... no big deal 🥱🥱

[@GFSwinger1693]

And I'm sure you are one of the same persons saying the HOA of Champlain Towers should be sued for not keeping up with maintenance.

[@dbrunsrtrom]

@@mattk8810 Yup. I'm sure kick-backs are rampant!

[@jackwilson3121]

@@GFSwinger1693 Excellent point.

[@Silks-]

Corporations getting their real estate nice and cheap. The transition’s underway.

[@TheLarinator]

Buying a home where you don't own the land is nuts.

[@BigDipper79]

Some lawyer needs to do a pro bono and sue to stop this asap.

[@jackwilson3121]

And let the building fall down?

[@emichels]

This guy keeps taking it off and on the market. That makes buyers suspicious. Dude, just reduce the price, take your lumps and walk away.

[@neilkurzman4907]

If you have a $225,000 assessment then that’s the amount of money you need to take off the price.

[@serafinacosta7118]

Whatever he can get, he won’t find replacing domicile with what is left after the sale.

[@jamesrodgers6472]

Hate to say it, but if he can afford $3000 per month HOA fees, take your lumps like the previous commenter said and buy or rent something else.

[@sjpavur]

@@serafinacosta7118 I imagine he will have to rent an apartment for the rest of his life. He certainly won’t be able to buy a luxury condo like he currently has.

[@entezami777]

Ron Desantis strikes again. Vote Biden!

[@wc4109]

$224k & $290k assessments?!? That’s outrageous, price of a new condo… Right or wrong, no way homeowners can afford to pay… The only sensible solution is for developers to come buy up these old complexes, tear down & rebuild… Not worth repairing at these assessments…

[@BrandonClark-StocksPassports]

That's exactly what will happen once e everybody figures it out. It's taking the market time to adjust to this new reality you just mentioned

[@donarthiazi2443]

Did he think moving from his shtetl in New York was gonna be a cakewalk?

[@hamsterdiving7593]

Lol

[@immigrantsagainstimmigrati2557]

Don’t forget, “you’ll own nothing and be happy.” And let’s not talk about what home owners insurance has become in FL too. It’s insane!

[@ltcmoose2001]

The Florida developers are just jumping for joy. These older units that have not been maintained they way they should will have to be bull dozed and started over. The developers will buy the location for 25 cents on the dollar and build new condos that have no maintenance requirements for 10-15 years. The new HOA will have the time to build reserves as it should have done before.

[@haydar378]

Thanks 🙏 Florida governor

[@dquan731]

That’s crazy. Vote out the HOA board. There is no reason to spend $700k on landscaping.

[@blairhoughton7918]

How can you say that when you don't know what the period is for the 700,000 or how large the landscaped part of the property is? And is that just regular cutting and raking or is there major rehabilitation needed?

[@dquan731]

@@blairhoughton7918 simple. They have to prioritize. There seems to be lots of critical fixes that needs to need to be done that costs a lot already. Landscaping is not critical. That can wait. There is no need to put that much financial stress on all building owners at once forcing them to sell because they can afford the assessments. When a company is not doing well, spending on non-essential things needs to be cut.

[@blairhoughton7918]

@@dquan731 So I have to admit I didn't originally pause it and look at the invoice, but I finally did, and, well, everyone saying the landscaping is $700k, didn't read it right. The landscaping is low 5 figures. The 685K entry just above it is for the elevator. They should also invest $200 or $300 in a new printer or copy machine. Because that paper looked like it was copied on a speak-and-spell...

[@dquan731]

⁠@@blairhoughton7918lol. You are right. I did read the wrong line after rewatching. But the homeowners should demand more quotes. That is an instance assessment.

[@anthonynardella8907]

Why would you pay $1500 - $3000 just for the HOA. That is plain stupid

[@MrDamon888]

That’s just proves that you never own real estate.

[@berry1669]

the HOA is way more then my Pension - this whole place has gone nuts

[@blairhoughton7918]

Look at the boats in the driveway. This isn't middle America, and it's not even upper-middle America. The guy in the video somehow got a tiny place in a deep-pocket community for cheap (during a downturn probably), and is being shown the hard way why that was a risky bet. His neighbors probably asked their accountant "what's this" when they saw the 6-figure number on a spreadsheet and said "oh that" when reminded.

[@WinstonSmithGPT]

@@blairhoughton7918Blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah.

[@RB-gt8bf]

Don't confuse a condo fee with an HOA fee people.

[@RSmith-fb4sf]

when the video started i thought how bad could it be. holy crap.

[@YouCanCallMeDon]

The position you are in, what do you do? Pray. Uh.. no, you sell. Put your place on the market. Take a loan to cover the assessment if you have to. I am sure there is a ton of equity in that condo. Next, you move to a new state where it is cheaper to live. Florida has become too expensive when you consider insurance, HOA, assessments, property taxes.

[@landonmiller5882]

Time to look into the connecta between who did the work and the leadership there. Sounds like heavy kickbacks at the very least is happening.

[@jul.escobar]

welcome to the life yall made happen to the rest of us.

[@truetech4158]

I didn’t do it, I am an atheist who says heatstroke never really produces afterlives.

[@crimemafiafamily4352]

Right

[@user-fb5pt7kw7l]

​@@truetech4158You have no idea what you are saying.

[@user-fb5pt7kw7l]

NO THATS OUR LIFE AND TRUST ME. WE ARE GETTING IT BACK. YOU ARE ABOUT TO SEE A PISSED OFF AMERICA AND THAT SHOULD SCARE YOU BUT IT DOES NOT FOR NOW.

[@truetech4158]

@@user-fb5pt7kw7l oh but I do. I study sociology from a usually safe distance from deluded wingnuts.

[@patrickwhelan5703]

Start by thanking the House of Cards Real Estate Shell Game of Florida. Then thank the lack of consistent inspections through the years. Surfside Condo was a wake up call. Sol, I hope you are telling your friends and family to stay OUT of Florida. Living cheap is over in Florida!!

[@user-zf3xb3qx8w]

Florida also cycles. I've met women in Canada that lost their Florida condo as they ASSUMED it would fund their lifestyle. Always. Every ten/fifteen years there's a WAVE of non-working women coming back to Canada, looking for a husband to "fund" their next condo purchase, having LOST the one they were in for stupid decisions.

[@user-kk3qg5el1m]

Exactly! Time to find another state to ruin.

[@ajax7ox729]

Back in my day we used to work

[@elizabethwitt2621]

​@@ajax7ox729I live in Florida and work very hard. Housing costs down here are ridiculously unaffordable and outpaces earnings. It has nothing to do with people not wanting to work, but people are always experts in passing down judgment over things they know nothing about. Just because you work doesn't magically make the housing market in Floriduh more affordable.

[@elizabethwitt2621]

I've lived in South Florida for 31 years and paid close attention to the real estate market over that time period. You are absolutely correct about everything you said. Remember the 2007/2008 foreclosure crisis that hit Florida harder than any other state? Another Floriduh shell game. Always Floriduh and always homeowner's getting getting screwed because the state is completely corrupt and cares only about the next scam to take the money and run while putting people out on the street.

[@user-ty2yb1iy2o]

That is crazy for HOA. So much for living in paradise. My HOA is 324.00 and I thought that was high for water, snow removal, grass cutting, garbage pickup and recycling. Move to MI.

[@steveg6978]

Well how many times over 30 y was maintenance votes turned down ??

[@XCBen]

Man, every week when I see stories like this, I feel blessed that I moved away to the mountains where people actually talk to you, housing is less, and the weather is phenomenal year round.

[@nczioox1116]

Which mountains? Dont they get atrocious snow?

[@XCBen]

@nczioox1116 Brevard, NC. No snow the last two years.

[@evanmichaelpearce1367]

​​​@@XCBen got outta the state but couldnt get Brevard County outta your mind huh 😂

[@XCBen]

@@evanmichaelpearce1367 😆. I guess a little bit of Florida ain't too bad

[@nrgmstr27to]

Just hope that the raccoons don’t form an HOA!

[@UncaDave]

I had a FL condo for 18 years near the water. It was well maintained and passed the big FL inspection too. I saw my fees and assessments grow every year. I had a great condo association and wonderful neighbors too. Thank goodness I still had a home in the mountains of WV where I went in summer and fall. I sold in March of 2024. Took less than I wanted but I got out and live financially much more comfortable. I still love FL but also thankfully I am an RVer and love the FL parks and camping. This market situation in FL for condos is definitely a reset. My buyer got in at a good price and a condo with hopefully no more surprises. They will be fine but for me on a fixed SS income I was getting squeezed. In WV my expenses are greatly reduced and I love the mountains. Everyone in these situations needs to take a good hard look at their next step.

[@slamhead]

I sold my condo for the same reason. The increases got rediculous and they started talking about a new assesment. It gets to a point where you are basically renting and are also responsible for property tax.

[@steve841]

Remember this video when you say “There ought to be a law”… because the government will happily pass laws you get to pay for.

[@JaymeSplendid]

Passing a law is not the same as passing a bailout. They can pass a law making it so they won't get charged for everything, all at once. Anyway, Its not like the building owners won't benefit for a mass exodus of individual condo owners who lose their homes, empty out the building and then sell it to a developer for 3x the price. Then, gets knocked down to build more expensive condos that will most likely have a rent only option. Management companies are literately salivating at this prospect and its already begun in other coastal areas of Florida. Nobody makes any money when owners die and pass on the property to family members.

[@steve841]

@@JaymeSplendid you're after the fact. The government offers knee-jerk reactions that end up costing people money and more.

[@briangasser973]

Why wasnt the condo association/residents making reserve payments over the years? Elevators, roofs, HVAC systems all have lifespans that can be easily determined.

[@blairhoughton7918]

Rich people don't like to pay for anything.

[@Skycouncil_Sentinel_777]

Florida is such a nightmare in so many ways. How can Florida allow this?

[@thebrunetteinroom7]

It’s the same everywhere now