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“Now you’re going to see what we call condo terminations, where developers buy out old buildings, tear them down and put up new ones,” one real estate agent warned.
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.
A final report on the incident is due next year
Michael Milillo thought his home in the Flagler House condominium in West Palm Beach would be his last.. Coastal breezes drift through the 74-year-old’s unit hugging the Lake Worth Lagoon, where ...
Federal investigators on Thursday shared updates on their probe into the cause of the catastrophic 2021 condominium collapse in Surfside, Florida, providing key insights into what may have led to ...
Lake Martin is a reservoir, enlarged by the construction of Martin Dam on the Tallapoosa River. The Martin Dam powerhouse is used to generate hydroelectric power for the Alabama Power Company. Construction on Martin Dam began in 1923 and was completed in 1926, creating what was, at that time, the largest human-made body of water in the world.
Real estate bubbles are invariably followed by severe price decreases (also known as a house price crash) that can result in many owners holding mortgages that exceed the value of their homes. [ 32 ] 11.1 million residential properties, or 23.1% of all U.S. homes, were in negative equity at December 31, 2010. [ 33 ]
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