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Two other, smaller, reasons behind the glut of condos in Texas and Florida boomtowns: fewer investors and a construction boom. Investors are buying fewer condos all over, and an uptick in ...
Across Florida, aging condo buildings are facing rising expenses and millions of dollars in structural repairs to comply with new regulations following the collapse of the Champlain Towers ...
It was the newfound ability to work from anywhere, a need for space, and ultra-low mortgage rates that set off the pandemic-fueled housing boom. Home prices rose substantially in only a few years ...
Barbara Schmal, who has been a real estate agent for three decades, told ABC Action News she’s never seen the Florida condo market experience such a low. Schmal adds this crisis is hitting folks ...
The Florida Legislature passed condo reform legislation in a May 2022 special session as Senate Bill 4-D, addressing issues highlighted in the aftermath of the Surfside collapse. [206] It was modeled on the 40 year recertification [207] scheme. [208] The bill creates a state-wide inspection program for condo buildings taller than three stories.
Florida Gov. Ron DeSantis has not called for a special session on the issue.. Changes to the law were made after the collapse of Champlain Towers South in Surfside in June 2021, killing 98 people.
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