Do Not buy a Florida Condo until 2025! (Condo Crisis gets worse!)

Here are my thoughts on the Florida Real Estate Collapse coming in 2025?! This will drastically change prices!

My last condo video- 80% of Condos in Florida could be worthless! Part 1

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Please consult your on professional, insurance agent, Real Estate Agent, lawyer, Home Inspector in your own state. I am not a lawyer! This video is entertainment only, not advise.

[LELANDJONES]

In the 50's my Dad worked a modest job, Mom stayed at home and raised the kids, and they lived a nice middle class lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Soon the kids and family dog will need to work to keep this household going. It's the destruction of the American dream right before our eyes.

[louisdiedricks]

Who wants to get richer on someone else's misfortune? WALL STREET!

[chakchoilawrencecheung]

Condo used to be a dream for everyone, now it is going to be a nightmare.

[stephensarnoff]

Many of the current condo owners being affected have always voted to defer maintenance rather than see their monthly assessments increased to build up their reserves. To avoid corruption you get three bids on any project that needs to be done. Everyone is not a crook.

[buddie]

I am a Florida State licensed General Contractor. 63 years old born in Dade County. Condo's are straight up fucked. Many buildings will be demolished. Very sad but true.

[chakchoilawrencecheung]

The land is worth more than the building, that is the whole point of the game.

[rockinrollin]

It used to be they'd offer to pay the owners to sell and move out, but now they figured a way to get you out, and it doesn't cost them a dime!!! Criminal!!! 😢

[ailyn]

Condos were the last somewhat affordable options in Miami where single family homes are unaffordable to locals with the average salary. Very sad.

[youtubechannels]

Never buy property with HOA, the best future advice to these poor people.

[hammertyme]

Condo owners are screwed. There's no way anyone can afford the rising cost of insurance, fees and maintenance.

[BabyHoolighan]

My advice to condo owners with adverse SIRS: resistance is capital intensive and bad for your health. Treat your condo like a stock whose value has dropped to zero. Move on quickly. Do not invest your valuable energy searching for a solution to the old problem. It's dead! Do not wait! These situations can impact your credit as it progresses. Make moves while you are in the strongest possible situation. Even if you are 81 years old. There may be help coming for vulnerable populations but don't count on it. Do not ask the question, "Where can I go?" Get mobile and start moving. Sell your possessions, concentrate your cash, and move now. If you are not able to sell your possessions, leave them. Walk away. Every day you wait, the weaker you will get to transition. Protect your credit rating.

[paintbrushful]

Where the hell is Desantis in this nightmare. I thought he was Supposed to jump into action with DISASTERS . Looks like he sat back and let this cronie theft happen..What is the point in having a governor?

[mariacraig]

I can’t say thank you enough I have learned so much from you and I know for a fact that you have saved me from being one of these poor souls losing everything

[nhernandez]

My family and my entire extended family are all home owners. None of them ever bought homes in HOA communities, they all own the land where their homes are build on. They love having the freedom to do whatever they want with their property. HOAs have too much people, you never truly own a home if you have other people telling you what to do with your home.

[JosePazos]

This law, authored by Daniel Perez, the incoming Speaker of the Florida House, was passed with unanimous support from all legislators, even those who expressed sympathy for its potential impact on residents. On one hand, this change has been a long time coming—over 40 years—due to the consistent failure of condo associations to adequately fund reserves. On the other hand, having managed condos and HOAs for over 20 years, I believe this is part of a broader strategy to condemn older, vintage condominiums, ultimately forcing owners to sell and paving the way for high-density luxury developments. The rest is just political posturing.

[janetrojas]

I sold my Condo in Vero beach 2 months after the champlain tower collapse that was the tipping point for me, every time we had a board meeting owners always voted against maintenance repairs

[zeppelinmexicano]

The smell of grift is wafting thick in the air in Florida. The disrespect to the retired owners on fixed incomes is exposing the decrepit underbelly of The American Way.

[winterwolf]

Buy a home & the land, no HOA. Love the freedom.

[enoynaert]

A lot of the people complaining the loudest about the high assessments are the ones who were consistently voting against funding reserves in the past. They kicked the can down the road, and now they are at the end of the road complaining about the wall of buckets.

There probably will be big corporations who come in and take advantage. However, the situation exists because people treated their condos as an emotional choice, not as a business proposition. Emotions don't fix structural problems that have resulted from deferred maintenance and denying reality.

[hideoussails]

I think probably most people bought a condo because it's supposed to be cheaper than a house. You can throw that out the window now