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Another Piece of the Housing ScrewJob; entered at 2023-01-23 09:21:25

Bzelbob
Posts: 423
Registered: 2021-09-12 Jacksonville

Another funny bit is the part of the article where they talk about this creating a "dichotomy" between condos and single-family homes:

Quote:

Macro Trends Advisors founding partner Mitch Roschelle also cautioned that the reserves law will "create a dichotomy" between high-rise condos and single-family homes in Florida.

"It's going to make single-family homes potentially more desirable because you can control your own destiny," Roschelle said.
"The other thing that we're seeing in Florida... after the Surfside catastrophe, people don't want to be on condominium boards anymore because it's a tremendous amount of liability."

Well, duh.

The difference is if you don't maintain a reserve fund for your single family home and the roof falls in, the damage is limited.
When the roof falls in on your condo, the damage is *massive*.

It's a DIE-chotomy all right, and it's not that they can't see there's clearly a difference here, they just don't want to see it.

That squealing you're hearing is the sound of SCAM being squeezed out of the system...

2023-01-23 09:21:25