Housing Bubble 2: Return of the Ugly

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Florida condo owners face unretiring or selling homes after being hit with $100,000 in special assessment fees (finance.yahoo.com)

submitted 6 months ago by SeattleRain to c/housing_bubble_2

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[–] Dkarma 15 points 6 months ago (1 children)

Find those bootstraps, kiddo.

No more avocado ensure.

[–] FrowingFostek 4 points 6 months ago

Avocado ensure sounds kinda good.

[–] Treczoks 6 points 6 months ago (1 children)

How about just leaving Florida?

[–] [email protected] 3 points 6 months ago (1 children)

It's a condo problem, not really a Florida problem. Sure condos are inherently cheaper upfront but once they say they need more money for whatever needs done...you're screwed.

It can happen in any state. Condos can be a financial disaster without any real notice.

[–] Treczoks 4 points 6 months ago

While it is generally a condo problem, this is a very special Florida condo problem. But not the only one - The elemental insurance people are running away, and the (officially in Florida not existing) global warming will increasingly cause trouble. And of course there is the political landscape, too.

Beaches, drinks, and sunny weather can only make up for a certain amount of the trouble that is brewing. In other words: Florida is nice for a holiday, but for heavens sake don't move there...

[–] [email protected] 5 points 6 months ago (1 children)

I'm going to go out on a limb here and guess that Florida has basically zero requirements for condo associations to keep sufficient money on hand?

[–] SeattleRain 4 points 6 months ago

Not anymore.

[–] Yewb 1 points 6 months ago

I don't think they are going to get sympathy