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Florida

SergeStorms

(19,392 posts)

13. Many won't be able to afford it.

Reply to Mike Nelson (Reply #3)

Sun Jul 4, 2021, 11:40 PM

Jul 2021

On top of their already sky-high mortgages, they'll be slapped with perhaps a $100,000 assessment for repairs. That's going to empty the condos, depress the condo market, and house prices will skyrocket.

Real estate in Florida is going to become one very fucked up business very soon.

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Insurers are making demands of 40-year-old buildings after Surfside condo collapse [View all] TexasTowelie Jul 2021 OP

Not surprising.... OAITW r.2.0 Jul 2021 #1

Given how insurance companies do things, they'll raise everyone's premiums in Florida. sop Jul 2021 #4

You can bet on it. SergeStorms Jul 2021 #12

And it starts... Enter stage left Jul 2021 #2

Hopefully... Mike Nelson Jul 2021 #3

Many won't be able to afford it. SergeStorms Jul 2021 #13

Any chance building replacement or repairs would be covered by infrastructure bill? Throck Jul 2021 #5

Is it part of public infrastructure? If not, what would the argument be for covering it? n/t pnwmom Jul 2021 #7

Public housing. Throck Jul 2021 #9

It wasn't public housing. It was all privately owned condos. n/t pnwmom Jul 2021 #11

Like a DUI arrest, you get the cancellation letter from the Ins Co mobeau69 Jul 2021 #6

Do you feel bad... BradBo Jul 2021 #8

lived there for awhile monkeyman1 Jul 2021 #10

From the article Pas-de-Calais Jul 2021 #14

That amount should just be on the structure and its surroundings and the land, shouldn't it? Dreampuff Jul 2021 #15