Florida condo owners are stuck in a 'train wreck' as prices drop and mounting insurance rates scare away buyers

Richard Glidewell

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I read some where the biggest danger to Miami is not sea rising but insurance companies leaving. with each flood it'll cost them more money eventually they'll be in net negative.
It’s just like these massive cities their building in deserts with a pending water crisis.

:mjlol:They’re putting the “cap” in capitalism
 

GoFlipAPack

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Ehh....the government will bail them out or maybe sone Chinese hedgefund will come in and buy all of those buildings
 

Oldschooler

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Not sure that condos are affected too much by Hurricanes. Unless you're living in the first floor you don't have to worry about a natural flood. Problem with Florida is that condos don't have a mandatory reserve fund to help with regular maintenance and repair. There's decades of deferred maintenance costs. This is especially important for ocean side buildings as the salty moisture in the air corrodes concrete reinforcing bars at a faster rate.
 
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