"the big what-if, and that is what’s causing a panic locally, because there is a shit ton of condo buildings here. And you can’t put off these repairs
Posted by
ty97
Jul 1 '21, 06:35
|
It’s the big what-if, and that is what’s causing a panic locally, because there is a shit ton of condo buildings here. And you can’t put off these repairs that need to happen. Part of the reason people buy condos is because they’re cheaper. And as soon as you start throwing in “Well, you need to pay $25,000 into this repair,” that scares the crap out of people. So people have been putting it off.
I can’t overstate how big this wrench that this is throwing into our local and regional and state economy, actually. Condos and the development of condos and the mortgage brokers that help get the financing, the insurers that insure, the realtors who sell, the investors who buy and flip—if Florida has one main driver of industry, this is it. That is what we do. That is the story of Florida. And I think we’re seeing a lot of anxiety about this. This is going to force a wholesale reevaluation of the very places where millions of Floridians live.
|
Responses:
|
