South Florida’s Zombie Condos Crisis: The Dark Side of Real Estate Revealed!

Right...right...right...

Conspiracy analysts!

What you mean zombies

Actually to dissolve a condo board in Florida it requires 100% of condo owners to apple. While not enforced & rarely challenged in court that’s the current law.

Paul, love your videos! Question, im not the smartest guy, why would anyone want to move to FL with high insurance, probability of much higher costs coming. Do you think people will be willing to pay 15k+ in insurance a year for a simple house or condo?? Plus property tax? What am i missing??

I would never buy a condo. I either own the land under the home or its no for me. Also no HOA'S and review all deed restrictions.

The new inspection requirements only apply to Condominium Owners Associations (COA’s) that are > 3 Stories and 25 or 30 years old depending on how far from the ocean they are located. The new inspection rules do not apply to communities governed by a Home Owners Association (HOA). In the video you discuss condos but keep referring to HOA’s.

Great job!

Born and raised Polk County Floridian 1965.. Walt Disney destroyed Central Florida and the money bags Developers last 40 years finished off the real Florida! Toast..

never buy there maybe visit for a month in jan. to march

Developers are kicking out the residents that PAID for thier condo with tactics that would make HARDENED CRIMINALS SMILE.. they impose impossible condo fees and special assesments.. and when a lot of these retired people cannot pay up they force them out of thier own homes.. THIS IS CRIMINAL

DUMP TRUMP PUTINS BOTTOM

In my opinion if I were offered 700 thousand dollars I would have taken the money in a heartbeat and deposited the check immediately.

Thanks for info - Ft Lauderdale is a hot mess & not in a good way 😢

If Desantis was President he would turn
Arlington Cemetery into a golf course.

Simply put -- you're an idiot to not just take the money and move.
We MUST transform the system.
But until you, yes, you stand up in legislation and strike these allowances down --- then this will happen.

Florida, the sunny state with shady people.

I've always dreamed of living in S. Florida. JUST KIDDING!

Florida is a good place for Zombies

Florida in the 1970's could be so sweet, sleepy, and economical... say in the Clearwater or even Tampa area.

They may win in court but HOAs and Condos will eventually lose because no one will buy them.

Personally I'd really love to own real estate properties as well as REITs, I've been informed of people making as much as $30,000 from these investments and If anyone could be lenient enough to share, I'd really love clue and tips on how to maximize profit. My strategy is to start with Reits and then move to Real time real estate investing.

Sterling Village in the background. Beautiful place!

FL IS A GARBAGE.

Interesting I live a few blocks from Biscayne 21. Some developers have looked into our place. The problem for most is even though you sell for 700,000$ is it enough to go out and buy another place in your neighborhood. Here the answer is not really. You would have to downsize.

I'm 78 and would gladly take 700K for a unit that I have 250K invested in. Reality is sooner or later most of us will have to give up our independent living situation because we simply can't do what we need to do. So take the money and run. And yes, you probably change neighborhood but that would have eventually happened. And be thankful you're not paying that huge assessment that would have been required to bring the place up to code with money you probably don't have

Paul, you shouldn't be quoting the percentages of ownership for voting to dissolve the condo associations. The threshold will be stated in the condo documents for each condo association.

South Florida is the new Manhattan when it’s comes to condos

AMERICAN GREED IS REAL

Somebody is lining Somebody's Pockets.

You can never get a 100% of humans to agree on anything. 😮😮 👀 👀

If you want to go bankrupt, move to Florida lol, everything is out of control, Taxes, Insurances and HOA fees are skyrocketing, and price will keep going up.

Who is buying $10 mill condos? Number of buyers cannot be large by definition.

The governors job is to make sure high rises aren’t pancaking down killing people. The history and what led to this has nothing to do with him. We don’t want people living in ruins that collapse

❤❤hoa scares me.if it's beyond 500 pm.

You are talking nonsense. You should have no subscribers, not 25 K subscribers. The problems with condos in Florida are huge, but your point is inane. This is not a conspiracy of the rich. The problem is costs: HOA special assessments to establish proper reserves for 3 story structures and up (a law understandably passed to avoid future building collapses) , increasing insurance costs(not yet addressed) and aggressive increases in real estate taxes due to skyrocketing FMVs(although that is tempered by the real estate tax laws limiting the real estate tax increases except when a property is sold). That is the problem and it is a very real problem. Your attempt at planting a conspiracy theory is also a problem.

The situation is very sad for the older folks living in a condo for years. The problem is that their home of many years should not become their coffin. Fix those condos so they don't suddenly one night collapse. And fixing those condos is not cheap. My heart goes out to them, but safe is better.

Lol “I’m not a conspiracy theories but” … lol… seriously. The logical explanation is that these calls are judgment calls and opinions can differ. The only way to find out is ask several engineers for their opinion and then see where they agree and where they disagree and make a decision.

We had 3 hurricanes in 2 months. Really?

Who's buying these condos?? Russian billionaires with crypto??

Great video. Thank you

Those condo takeovers should mandate always that developers buy the next unit at 1% plus they bought the prior, so easy to regulate this country is so freaking co-rrupt is just sad.

The ills of Capitalism.Owners of these condos are screwed. They can hold out, in many different ways, but the end will be the same, plus they will lose money.The unfairness of life has taken their homes, dreams, memories and there isn't anyway to stop reality😮

Nethanyahu and his son in US will soon claim Florida belongs to them according to the comic book written by their tribal war god . 😁

Condo values are crashing throughout Florida.

The fact you edited a update 👍🏾
I subscribe looking forward to your content

She should have sold her Condo😊

Never fear, Daddy Trump will save you!

Thank you for the straight talk about the condo market! I see you are right about the 2025 financial storm predication and thank again for putting forth your energy, time , money to bring concern of condo crisis to the people in the the US and globally! But most of all your thank you again for your knowledge from the research done on the condo purchase and all the work of owning a condo in Florida. I will not own property anywhere because I do not want to be tied down in having to pay property taxes or maintenance, although you do need the utilities coming in from the public works.

You are annoying! Had to bale.

Well, Florida seems to be loving its capitalism and is overwhelmingly Republican. If you appoint a ‘property mogul’ to the presidency then you really have no complaints about this happening. It’s legal and legitimate. Capitalism, alive and well….enjoy the ‘benefits’ everyone!