Florida’s Condo Crisis: Can Condo Owners Recover?

/ Owner - December 20, 2024

Condo owners in Florida have flooded the market with new inventory in 2024 in hopes of unloading their condos due to rising costs. Florida lawmakers enacted legislation following the catastrophic collapse of the Champlain Towers condominium building in Surfside in 2021. The devastating event in South Florida’s Miami-Dade County killed 98 people when the south tower suddenly crumpled in one of the deadliest building collapses in U.S. history. To prevent similar disasters, condos of a certain age are required to undergo rigorous inspections with detailed plans to fund necessary repairs and maintain structural integrity by the end of the year.  Read the article…………………………….

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