This podcast episode explores the aftermath of the Surfside condo building collapse in Miami and the impact it has had on the safety and financial stability of condo buildings in Florida. The federal investigation into the collapse revealed deficiencies in building codes and regulations, leading Florida lawmakers to implement a new law requiring structural inspections and milestone inspections for older condo buildings. However, the extensive repairs needed to meet these requirements have placed a significant financial burden on condo owners, causing distress and uncertainty within the community. The lack of reserves for maintenance and repairs has further exacerbated the financial challenges faced by condo associations. As a result, many condo owners find themselves trapped, unable to sell or afford alternative housing options. The implications of these developments extend to the Florida housing market, as buyers turn away from older units and affordable housing options become increasingly scarce.
