02/28/2024
It was just a matter of time before skyrocketing insurance costs (and skyrocketing Condo Association fees to cover those costs) led to South Florida condo prices leveling out. Homeowners cannot afford the price increases on all fronts -- individual unit insurance, association master insurance/condo fees, and property taxes.
Florida’s condo market is faltering as the increasing intensity of natural disasters pushes up home insurance costs, and HOA fees soar in the wake of the 2021 Surfside condo collapse.