So the entire condo complex used to pay $56,000 a year. If you divide that by 50 units, that is $1120 per unit. Now it went up to $526,579 or $10,531 per unit. Its not like every single condo association fee is going up that much in Florida. This specific condo complex failed many various inspections and many homes in the complex have construction defects.

@michelrodrigues110

4 ай бұрын

and HOA never informed the new owners, neither broker, nothing, it's a complete scam.

@Floorguy1000

Ай бұрын

@@Linda-cn3yx No....because people can't take care of maintenance of buildings. Surfside collapses...killing 100 people as they slept....due to poor condo management... But yeah let's blame it on government regulation. Skyrocketing property taxes....well Florida has chosen to not have State or City taxes...so no surprise here. People have been getting away with artificially low fees for years. Now that they finally have to pay, people are going to complain about how unfair it all is. What happened to personal responsibility?

@Floorguy1000

Ай бұрын

@@Linda-cn3yx I get what you are saying, and can agree with a lot .. ...but the really significant government regulations as it pertains to Florida, have to do with the Structural Integrity Reserve studies, and the fact that reserves are now mandated to be fully funded to plan, can no longer vote to defer. These changes were long overdue. People should have seen this coming ...but people being people, they wait until the last minute. It also has not helped that most HOAs are run by volunteers. Imo, it's going to become an even bigger mess.

@robertherman1146

22 күн бұрын

Does this mean Florida is not a good place to retire?

@Floorguy1000

21 күн бұрын

@@robertherman1146 Like everything else in life: It depends. If I had a young family I would not want to go to Florida...however, I am very seriously thinking about relocating to Ft Lauderdale for a good part of the year. I'm going to rent first to see if it's a good idea.

Floriday is a swamp with water on all sides including coming up from the ground and coming down as rain. Who would have thought Condos falling down and once in a lifetime hurricanes coming each and every year.

@critterscute3642

5 ай бұрын

Yep. And they’ll keep on building and people will keep on buying and then gripe about the “big surprise” later

@danasmith858

2 ай бұрын

And building things out of cement and sand, like that's not going to crumble in 50 years

@SK-lt1so

Ай бұрын

Yup A swamp surrounded by water and "gee, there are water problems?!"

If there are “defects,” why haven’t they been corrected by the HOA or the individual owners? Of course insurers are going to beg off, particularly in Florida. Part of this too is that the owners are finally having to pay the real price for living in a disaster-prone area.

@Neimfeltrite

8 ай бұрын

The defects probably haven't been corrected because it would be a massive special assessment, which means everyone in the community would have to come up with anywhere between 30,000-50,000 dollars on the spot or lose their home in foreclosure to the HOA. That's the ropes. But hey, its the system these aging baby boomers set up for the rest of us. They should move to a cheaper area like they turn their noses up and tell everyone else to do.

@info781

6 ай бұрын

You are correct, no one wants to pay , especially if it is a issue with tile roofs , they are expensive to fix and replace.

@Floorguy1000

Ай бұрын

Absolutely agree! People have paid an artificially low price for living there...but now that they finally have to pay... people want to complain about how unfair it all is. Somehow I bet if you look at all the minutes of that HOA you'll see how they voted to defer adding to their reserve fund.

@aryaastark9201

26 күн бұрын

Yup. Sorry but that's what happens when you don't believe in climate change and don't think you should have to pay for said change. Additionally, you didn't keep up maintenance on your property so of course you'll have to pay.

@KC-kx7xb

3 күн бұрын

@@aryaastark9201only brain dead dum dums believe in “climate change” . The government is geo engineering the weather, essentially pissing on your head and telling you it’s raining.

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@Pamela.jess.245

6 ай бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@rodrigo.971

6 ай бұрын

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

@Pamela.jess.245

6 ай бұрын

I had the pleasure of working with one and it proved to be immensely advantageous as they helped me restructure my entire portfolio. My advisor is none other than ‘’JULIE ANNE HOOVER, a renowned figure in her line of work whom you may be familiar with.

@rodrigo.971

6 ай бұрын

@@Pamela.jess.245 -Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

@ricklogan1433

4 ай бұрын

They are screwed by a builder, and hoa. Welcome to the great state of Florida 😅

As an orthopedic surgeon in Florida I can tell you I see a lot of older people falling in the areas outside and suing the communities. I am convinced that the letiginous climate of Florida helped spike those prices

@damham5689

9 ай бұрын

If they didnt live in an HOA then people couldnt sue the HOA community.

@RorkesDriftVC

9 ай бұрын

Lawyers in Florida have been successful in keeping mandatory car insurance from happening. 25% of drivers are uninsured. People with assets pay the price for others not being insured.

@williamsmith6838

9 ай бұрын

That's not what's driving up rates overall. Those are isolated incidents.

@craig162

8 ай бұрын

It is true that 25% don't have car insurance but you must have insurance in Florida to drive a car. Google it. Time to tow 25%of the cars on the road.@@RorkesDriftVC

@user-oe5ey3ex8b

7 ай бұрын

Most of this rising insurance rates is due to credit suppliers like BlackRock and Vanguard retaliating against red states like Florida because of anti-ESG legislation. Insurance companies can't get financing or it's much more expensive if their ESG score isn't high. The ESG score of corporations is lowered if they do business in Florida. This is all part of of pushing home owners into rentals. They can't get people out of their 3% mortgages but they can increase property taxes, insurance and inflation to make home ownership too expensive. These big companies like BlackRock are waiting with cash to buy foreclosures at fire sale prices. Also, they are self insured. "You will own noting and be happy"

My ex-boyfriend bought a condo in the Ft.Lauderdale area less than a year before we broke up. He would brag about buying it in cash and not having a mortgage, I heard the other day he's selling the place because he can't afford the high HOA fee's. Me .. I left Florida, I bought a smaller home .. a simple 3 bed 2 bath. There's no HOA and some of the nicest people I've ever known, where I live everybody watches out for everybody. This is a place you could brag about .. and mean it.

Told my HOA to stop voting no reserves & we would someday run into problems & no $. It happened & now flood insurance & other issues have risen. Glad I sold before their major HOA fee increase. Florida now has new condo laws for reserves starting 2025.

@Pondapple

6 ай бұрын

At my Florida condo, we voted to fully fund reserves, and do so. This was several years ago. I wonder about what is the thing with people on this - we also voted to not allow leasing for the first 2 years. This slowed down the flippers who would likely not want fully funded reserves. Just my idea of it.

You will OWN NOTHING AND BE HAPPY!!

Whenever I move to a new area I do my homework....It does not take a brain surgeon to have seen ten or more years ago that Fla weather would affect living costs in that state...

Florida has become too expensive place to live. No matter how "nice" it is.

@bigcahuna42366

10 ай бұрын

Exactly, it has now become a playground for the top part of the upper class

@briankane3905

9 ай бұрын

It's not if your house is paid off. People poured into this state, started bidding wars plus inflated prices. I own several homes here, pre pandemic. All my homes went from 75k to 500k. The pandemic made me rich but if you buy a house here now, you are nuts!!!

@carochio8639

6 ай бұрын

it's not even nice

Lotsa jobs picking oranges in FL now available! Earn extra cash! Pay for your insurance! Your state gov't has seen to it that these positions are available for you - hardworking Floridians. Lawn care, drywalling and roof repair jobs are also available. Start an exciting second career!

@dennistyler9852

4 ай бұрын

I rent 6 months a year so you pick the fruit.

@desmondjefferson2127

4 ай бұрын

🤣😂🤣😂 Absolutely, these boomers need to get those bootstraps and earn more money, like they've told EVERYONE ELSE to do from younger generations with student debt, high rent, and other costs of living. 🤣😂😂😂 I'm good!!!

Same here! I moved to Florida for affordability as I am now on a fixed income. Everything has gone up here in Sarasota Fl. Maintenance and insurance is up. I left NYC but there’s no where to run to you avoid the global take over to make us all poor and afford nothing. Generational wealth is a threat to the plan. Who will stop this?

@williebrinson4699

11 ай бұрын

Desantis

@Bradimoose

10 ай бұрын

When did you move? the insurance crisis has been building for years yet people keep coming and and are surprised. It's been a brewing crisis since 2018.

@kyleklmondwa9042

10 ай бұрын

I was wondering HOW the NWO were going to Confiscate everyones "purchased" homes. Just hike UP the insurance rates to the point where nobody can afford them and then TAKE their homes when they stop making insurance payments...BRILLIANT.

@orethawitcher3133

10 ай бұрын

@@williebrinson4699 Desatini

@bns434

10 ай бұрын

Not sure but there’s a lot of other cheap places in the south

I see that they did not bother contacting their GOP representatives about this issue.

@cindystiles4671

10 ай бұрын

It doesn't do any good. They're run by the billionaire corporations. They will never listen to pip squeak people like us. Unless you are a billionaire, don't bother with the GOP or DeveloperSantis. They are all on the billionaire's side.

@jimbranaghan1228

9 ай бұрын

Give it a rest.

@Jozeha

8 ай бұрын

@@jimbranaghan1228who’s your daddy

@ricardcluter4765

6 ай бұрын

@@Jozeha Why are you asking, don't you know yours? Let me guess, Obama...

@Jozeha

6 ай бұрын

@@ricardcluter4765 I don’t support neither party I’m no sheep like most diaper-Don cult followers no way would I stoop so low and look at someone like they are the messiah.

I have a private house in nyc paying only $600 annually.

Still can’t believe people are buying hoa’s

@stevebrannon69

7 ай бұрын

This is happening everywhere. Developers form assessment districts to build their development and pass a bond onto the new homeowner. Then they form a HOA to maintain the common areas and these assessments are placed on the new homeowners. You would be surprised how many HOAs are in this country. It’s just not a California of Florida problem, it’s everywhere.

@therealmvp232

7 ай бұрын

@@stevebrannon69 I know it’s a lot. But still why would you buy a house that someone else sets the fees and rules you have to live by. It’s stupid

@Tugela60

5 ай бұрын

All condos are HOAs.

@MountainMan7.62x39

4 ай бұрын

HOA has nothing to do with it.

@mandybradley3079

2 ай бұрын

Big money in HOA. Lots of unnecessary salaries. They pay lawyers to be available with money you pay them, but you have to pay for your own lawyers to fight them. It’s bad news.

Gee, I sarcastically wonder why insurance companies are leaving Florida. Maybe it's because mother nature can completely destroy homes in one fell swoop

@charlesbrown9213

6 ай бұрын

@Blockchain - The logic of your sarcasm eludes me: if insurance companies leaving is rational, why were these 'rational' companies insuring the market in Florida for decades.

@desmondjefferson2127

4 ай бұрын

It's not woke enough of a problem for who they voted for, DESATAN, now I'm glad they are reaping what they sowed. Also, everything they complain about is just WOKE whining, GET A JOB!!! 😂🤣😂 OR it's FAKE NEWS🤣😂🤣😂 SEE, we can do it too!!! I will watch on GLEE for the people who support the GOP and all they do but forgot they also needed government too. Oops

@JBoy340a

Ай бұрын

No. This sounds like people suing the HOA they belong to and being shocked when they have to pay more because of that lawsuit.

@devanishant

Ай бұрын

It's not hard to build a hurricane proof structure. It takes planning and money.

Florida's CFO blames woke. Insurers are leaving the most climate impacted states. Regulations that would mitigate the impact of climate events would be an intelligent response. With our current governance that is out of the question.

@audenharper3014

11 ай бұрын

Make America Florida he said 😆

@JamesBrown-ij1px

10 ай бұрын

@@audenharper3014 I live in Florida! Do NOT make America like Florida! Florida is AWFUL now because of Ron DeSantis!

@JamesBrown-ij1px

10 ай бұрын

As Ron 'DeSaster' DeSantis is learning, blaming 'woke' for everything is a losing strategy as his presidential campaign sinks faster than the Titanic. Blaming the problems on the country on 'woke' is simply a stupid and worthless strategy. Maybe the Floridians that he has abandoned will 'wake up' and realize that they should never vote for him again!

@Standing_on_my_Z

10 ай бұрын

These people don't even know what "woke" means, it has replaced the boogie man

@desmondjefferson2127

4 ай бұрын

You're right and everyone who is complaining now, voted to be in this position and GOOD FOR THEM. I will take joy in their coming bankruptcies that their governor and GOP got them into🤣😂🤣😂 Boomers are FINALLY getting what they voted for!!!

This happens in condo buildings. The buildings age out, 40 yr assessment for good reasons. Don't buy a condo if you cannot afford upkeep. It's the same with all dwellings. They all need new roofs, air units, plumbing upgrades, new kitchens, bathrooms, etc., plus rising taxes, insurance.

@curtandoscar

6 ай бұрын

"Upkeep" in Florida is completely different from 'upkeep" in other states. For example, Florida insurance companies are refusing to cover a home with a roof older than 10 years. And Florida roofs are incredibly expensive ie $40k and up. People are used to thinking in terms of a 30 year roof, ie you buy it once, maybe twice in your lifetime. Who can afford to keep rebuying a $40k+ roof every 10 years?? Who?

@aliannarodriguez1581

21 күн бұрын

That’s insane, why are the roofs so expensive?

Need to mention the weather hazards. The state is extremely prone to severe weather. That’s like building in the middle of a shooting range. It makes sense that insurance is out the roof. Why willingly cover an area that is most likely to get blasted hard and not get paid for that obvious cost risk?

@Standing_on_my_Z

10 ай бұрын

So climate change is real then, because I've lived in FL my whole life, and hurricanes have always been an issue, this is nothing new

@JeffBattleFish

10 ай бұрын

This has little to do with weather, its all about lawyers suing over 1000 fold versus other coastal states for wind damages and litigating that damage. The Florida legislature are lawyers and they refuse to step on other lawyers payday. Its politics.

@isocarboxazid

3 ай бұрын

@@JeffBattleFishEverything's a grand conspiracy to a knuckledragger, especially when his lifestyle depends on not knowing what's obvious to hundreds of millions of other people 😂

@tylerbroom8309

3 ай бұрын

Blame the government for decades of irresponsible development. These people will need to find a new place to live.

@Frank-tk2kr

3 ай бұрын

Doesn’t help that the governor is in the pocket of the insurance companies either.

Some building defects can be fixed. You might be able to add extra straps in the attic that hold the roof trusses to the block walls, for example.

A lot has to do with contractor fee’s. Their prices have tripled in the last 2 years. Nobody works cheap anymore. Just try calling in a roofer, plumber, A/C tech and you’ll be shocked at the prices they charge.

@SandcastleDreams

6 ай бұрын

Yep! And the cost of materials has gone through the roof as well! Thank Trump and Biden for the inflation.

@info781

6 ай бұрын

Yes, pretty much $250/hour to get things done.

@GreggSagge-lt6le

5 ай бұрын

​@@SandcastleDreams and all the republicans that run florida

@gedias1

4 ай бұрын

​@@SandcastleDreamsGovernments in a capitalist society don't and shouldn't control the free market, or commodity prices. Even goods from China have increased greatly.

@SandcastleDreams

4 ай бұрын

@@gedias1 Fuel price increases raises the price of everything. They go through a port in CA, the dock workers went on strike and got a raise awhile back, fuel prices for Semi's is through the roof. Then it has to travel to its destination. If it comes by air, the same thing. So, you've got fuel price increases and labor cost increases and you've got inflation. It's called consequences. We don't have a free market when there are lobbyists wuth deep pockets hollering about global warming while polluting the earth with windmills, solar panels and exploding batteries all the while letting China build 5 or 6 coal fired power plants per day. Does anybody in their right minds think that buying almost all of our products from a country that uses coal to produce electricity is actually cutting down on pollution? No, so why is our government and agencies making things so impossibly difficult to manufacture goods in our own country? UN Agenda21/2030!

1,000% increase is $800 a month? So they were paying just $80 a month for insurance before? I don’t know the area but that seams unbelievably cheap for a condo/townhome master policy.

@naplesflexplorer

7 ай бұрын

Exactly, lol. I thought I was the only one that saw the numbers don't add up. They say they were paying $56K a year and it went up to $527K a year , then the home owner is complaining about paying $890 a month which? s 10,680 a year? Which sucks but no where near $527K

@livedreamsg

6 ай бұрын

​@@naplesflexplorerEach individual owner pays $890 a month. It's $527k a year for all condos.

@maryrenaud6732

6 ай бұрын

This implies there about 50 condos in the Community, 527k / 50. = $10,540/ 12 = $878 per month…so maybe 49 units…?

@steveconkey7362

5 ай бұрын

That's on top of their separate unit insurance. They have 2 policies. One for the house and one for the HOA.

@Danny4Aarch

5 ай бұрын

@@steveconkey7362 Yes I'm aware, but their own policy will be a lot cheaper as they'll only need to cover personal property and liability, the dwelling is already covered under the master policy.

Luckily Florida believes is less government and less regulation.

@fswatyahoocom

11 ай бұрын

only when those regulations are inconvenient to them!!!

@Matt-fl8uy

11 ай бұрын

@@fswatyahoocom Your comment suggests they support SOCIALISM!?!?!?!?!?

@JusticeAlways

11 ай бұрын

Less affordable housing > fewer people > leads to less government. Haha

@droolalot5795

11 ай бұрын

@@scotth5357 so it's fake news that Florida likes freedom? Darn it, they tricked me

@johndubose1395

Ай бұрын

they cant regulate the hurricanes

You move to a WELL KNOWN and documented Weather and Climate WARZONE and you WHINE about the costs associated with protecting yourself from these established factors.

@desmondjefferson2127

4 ай бұрын

AND vote for a governor who ignores that to pick fights with Disney🤣😂🤣😂

For years these kind of places near the ocean snd waters got a free ride in terms of insurance. There are fifty some units insured before for $56,000. That is about $1,000 per unit. Would you personally take the risk of total destruction for a $1,000 per year when you consider how many hurricanes Florida has? That's not including any other risks such as home fires. If these people think $10,000 a year per unit is too much, why don't they self insure for all the risks and save that $10,000? Of course they won't because they know there is a chance of major damage from storms. So they want the insurance company to take a risk that they're not willing to take.

@pauljones6321

2 ай бұрын

It’s the master policy for the common areas, not for the individual units.

My sister owns in a small association on the East Coast of FL. Master insurance policy went from 92k per year to 212k per year. Crazy stuff going on.

Blame it on the "WOKE" insurance companies. Don't worry yall your boy Ron will straighten them out i am sure. :)

@Matt-fl8uy

11 ай бұрын

He'll just keep taking those campaign contributions from them and let them charge whatever they want.

@JusticeAlways

11 ай бұрын

Yeah..."woke insurance"...effing hilarious.

@PSCA1988

11 ай бұрын

The insurance companies went woke and the homeowners go broke!

@SandcastleDreams

6 ай бұрын

It's called INFLATION! Thank your orange messiah and that old geezer in the WH. Did you honestly think that Trump spending Trillions would just magically turn into no consequence at all? And now Biden falls into his footsteps! That Omnibus Bill that they all signed started this mess! Trump should have vetoed it and sent it back!

@robevans2114

6 ай бұрын

I never thought of turing a profit as woke. It seem capitalistic

Down here in south florida, our hoa recently went up 55% because of the master insurance.

@thedude1666

4 ай бұрын

Good for you!

@JBoy340a

Ай бұрын

Not suprising. A lot of older building have differed maintenance costs. Especially bad in Florida's climate. Water in any form, humidity, waves, etc. can little erode mountains.

Ok, let's do some math here they are paying $560,000 for a policy that only covers $2.5Mil claim that's crazy. If I were the HOA I'd self insure take the $500,000 and put it into my Reserve Fund and roll the dice in 5 years they will have more than 2.5 million set aside and can drop the dues back down.

INSURANCE IS A SCAM

catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated.If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.

@williamsbrown4026

9 ай бұрын

People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.

@LionTowercoporation

9 ай бұрын

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.

@KelvinWallace

9 ай бұрын

You are right! I diversified my $550K portfolio across various market with the aid of an investment advisor, I have been able to generate a little bit above $1.4m in net profit across high dividend yield stocks, ETF and bonds during this red season.

@LionTowercoporation

9 ай бұрын

My advisor is "Colleen Janie Towe" In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.

@KelvinWallace

9 ай бұрын

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.

They’re victims of their own ignorance sadly..as a former banker, we all knew that owning a condo is risky because you really don’t own real estate but “air”. When new complexes go up, yours will sink in value. Especially when these building aren’t made to go beyond 50 years without an overhaul..especially in a state full of hurricanes which add stresses on the building. Similarly , by 2050, when most mortgages purchased in 2020 were made for coastal properties, by the time your home is paid off, the ocean will be lapping on your front door..the science tells you that but most ignore it. By 2050, HUD anticipates at least a trillion in mortgage properties to go underwater ..a huge default due to climate change…but people put on their blinders and keep buying.

I would never live in neighborhood with an HMO!

@drc3po

4 ай бұрын

There are no neighborhoods with an HMO. That would be your health insurance! 😅

@henryc1000

3 ай бұрын

@@drc3po HOA. Happy now? lol

@drc3po

3 ай бұрын

@@henryc1000 👍

@mariapantaleon6510

Күн бұрын

@@drc3pohaha

Most of Florida will be a sand bar at low tide in 50 years and it will be effectively be uninhabitable long before then. The insurance companies know this and so does anyone who was willing to take a little time to educate themselves. Which are few and far between.

@craig162

8 ай бұрын

Nothing would make you happier.

@Member-el4zo

7 ай бұрын

If it was to happen that would be flooding and nothing to do with this since floods aren't covered by this kind of coverage anyway.

@geckster109

4 ай бұрын

Then why do major banks still write 30 year conventional mortgages for people buying there?

@kriscampbell2327

2 ай бұрын

I agree. People just are NOT studying the scientific data of our world's ice masses melting. It is downright scary and shocking as to how our world might look like in 100 years.

@devanishant

Ай бұрын

@@kriscampbell2327 Fake news. Lies. Rubbish. Commie disinformation. You're full of it.

We had a big raise in our condo insurance. Our buildings are 10” slab built walls, 8 miles off the beach, no flood zone or HVHZ zone also but we are getting hit hard on insurance raise.

The Florida government has to do something about these high prices, how can us retries deal with that and our incomes.

@info781

6 ай бұрын

Stop voting for people who only care about "culture war" issues and want to focus on pocketbook issues.

@bobbullethalf

6 ай бұрын

@@info781 but I voted for every pro-business republican that was on the ballot. I want the insurance rates to go down please so I can live in peace in the state.

@damoneboyd9945

5 ай бұрын

​@@bobbullethalfpro business really

Why can't they sue the contractors that built the condos?

@MsOSheDidIt

9 ай бұрын

Why can't they blame the Rethuglicans that aren't doing anything but turning one group against the other and blaming Mickey mouse!

@maderastuff

7 ай бұрын

​@alexandraoneal4534 bro the mouse hasn't done shit lately. It's all Pixar and marvel. I think you're onto something. Let's all blame Bob Iker

@rustynail3630

Ай бұрын

Stay off the meds

@fredricksmith-something.2125

Ай бұрын

@@rustynail3630 Shhh

Lots and lots of these stories about people who cannot afford to pay for these policies--obviously not. But NOT one single person here has made a suggestion about how ALL those impacted - not just ME - can address the impact of more frequent, more powerful, and more COSTLY storms. What is their solution other than "NOT ME"? Someone ELSE needs to fix this--NOT ME. This is a time for people to come together. All those retirees at Lakewood Ranch COULD vote for representatives and a Governor who listened to their needs. They could have a one-day protest during the time the legislation met in Tallahassee. They could form an insurance cooperative. Something other than complaining. I understand where this guy is coming from--we left Tampa after Hurricane Charlie.

@cindystiles4671

10 ай бұрын

Get rid of DeveloperSantis.

@tomnguyen9931

10 ай бұрын

Sorry to inform you but the legislation in FL is not "WOKE".......They are all brain dead!!!!!

@akita96th

9 ай бұрын

They need a good old fashioned woke government that would straightening out them evil doers.hehehe/

@chillwill5080

6 ай бұрын

There is no Constitutional Right to insurance, that's the end of any argument. Either pay the price or don't, that's freedom.

@akita96th

6 ай бұрын

Spoken like a true MAGAT.@@chillwill5080

living in a hurricane zone will bite you in the ass

Go woke go broke..i guess florida resisents gonna be broke asf😭😭woke hurricane coming

Seems like the HOA/Homeowners should sign a paper that they will not sue over the defect to clear that issue.

Interesting. Didn't DeSantis just go visit Lloyd's of London?

I feel sorry... I am glad I rent my rental insurance is $14.17 per month. Not $500,000😂

Great info thanks for sharing

$890 a month for insurance that provides no coverage. wow!

“Don’t build your house in the sand. “. There is a popular book that gives that advice. Florida is a big sand bar

I've lived in Florida for 60 years. Hurricanes have been happening during the entire time. While there may be more intense hurricanes today, there have been destructive ones in the past too (hurricane Betsy, Andrew, Wilma). I wonder if the problem is due to construction methods in different parts of the state. I live in Southeast Florida. The buildings here seem to be better built than in other parts of the state. Miami-Dade county building code are pretty strict to protect against windstorm damage. I lived for a time in Southwest Florida and saw less strict building codes. For example, many building in my neighborhood are two story. The second story is a concrete block structure. In SW Florida, second stories are frame construction. Something needs to happen to control the cost of Florida windstorm insurance. Part of the problem may be that all homes are paying the price for properties that are not as well built. My home was built in 1953. It's been through many hurricanes including Cleo (1964), Betsy (1965), Andrew(1992) and Wilma(2005). I've gone through records to see if the home was damaged in any of these storms and found the only repairs necessary were for a fence that was blown down. Yet I'm charged ridiculous rates for Windstorm.

I can afford to buy a house in Florida, I just can’t afford the home insurance…

@SandcastleDreams

6 ай бұрын

Ours isn't that bad. We are not in an HOA.

Sounds like the lawsuit needs to get settled first.

Gated golf course community = rich people problems.

@legalbeagle295

5 ай бұрын

Not necessarily rich, but retirees who saved from WORKING their entire lives

@danielterry382

5 күн бұрын

People with a Large Monthly Pension.

‘ if a big storm comes in and hits everyone… we’re going to be done.’ Insurance company are saying… yes… now you know how we feel.

These people live in one of the wealthiest communities in Florida. And they're complaining? You wanted to move here Transplants. The hoards of people pouring into this State are causing things to go up and up. There is no quality of life living in human overpopulation. You wanted to move here because you think this is paradise????? You got what you deserved. STOP INVITING THE WHOLE ENTIRE WORLD IN. START TELLING PEOPLE THE TRUTH OF WHAT IS BEHIND THOSE PRETTY PICTURES INSTEAD OF INVITING YOUR FRIENDS AND FAMILY TO MOVE HERE. SIGNED - PART OF THE 25% CLUB - A FLORIDA NATIVE.

@lakenneth374

9 ай бұрын

Per capita, more Floridians move to California than Californians moving to Florida.

So the complex has defects it hasn't corrected. This is not some big surprise or insurance scram problem. It' sounds like the HOA just plain kicked the maintenance problem can down the road...and now they finally have to pay. There are going to be tons of these in Florida.

Why can't they self-insure?

So, the issue raising the rates on the homeowners' rates is claims from the homeowners that the buildings are defective.

That's what they get for being lawsuit happy.

@AJourneyOfYourSoul

6 ай бұрын

That’s definitely part of the problem. And hurricanes, lol. Florida is a place you build a cheap shack to live in, and when the hurricane takes it, you throw up another one and move on. No insurance needed. It never should have turned into what it is.

what i do not understand is how the insurance companies are at minimum required to do is to create and price their rates by historical data. there are hundreds of thousands of square miles in florida that have not seen a hurricane in twenty years or more, and some areas the NEVER have - versus coastal areas that obviously should cost much more to insure.

Because years of premiums that were too low and years of deferred maintenance have consequences.

this is capitalism at work. The insurers ( and the reinsurers that the insurers pay for coverage ) have determined/analyzed that Florida is a very risky place to do business. So they raise their prices to cover that increased payout ratio that they have determined is inevitable. The solution for homeowners who can't afford to pay for this risk policy is to move out of Florida. I'm sure Governor DeSantis is working on it though, he definitely puts the needs of his constituents above the needs of his campaign /sarcasm, lol

@MsOSheDidIt

9 ай бұрын

No this is what happens when you live in the middle of hurricane alley, vote for Rethuglicans who do nothing but fight against woke mice and people who don't hurt anyone but don't lift a finger for the citizens in need. This is a rethuglican problem! Blame everyone else but it's high inflation at 9 percent, cost of everything in FlorYaDiea thanks to the Rethuglicans 😂 Thoughts and prayers 🙏

@jjman533

6 ай бұрын

Now do California and the increase in home insurance rates due to the fires. CA car insurance rates also increased 40-50% even if you never filed a claim. Just wait until a REAL major quake hits Cali and see what that does to rates nationwide.

Self insure. I lived in Florida for 40yrs and the rate increases were ridiculous. I paid off my house canceled my insurance and saved 75k in less than 20yrs. Everyone thought I was crazy, but my Roth IRA will beg the differ. That money has grown 10 fold. That house is still standing today without a scratch.

@ericwsmith7722

2 ай бұрын

Amazing how many lawsuits are avoided when the law firm finds out you cant pay ! Only so much ju$tice they are willing to go to court for.If I was to drive to the closest house burned to the ground by fire, and count how many houses I passed by that didn't.....100 to 1,,,,,200 to 1 pretty good racket

Condo owners will not be able to sell. The only way out of the property is foreclosure followed by bankruptcy.

😂😂😂😂, Fmr, Broker, MA happened to me San Jose California..... 2023

The condo association didn't do proper maintenance in the buildings. Now they are paying the price. Don't move to Florida!

Our Florida townhome community had a major spike in insurance too but luckily no lawsuit w building defects to escalate the rate even further

@tjts1

8 ай бұрын

You are one lawsuit away from poverty. Sell while you can

Just FYI, T told DeSantis to do something about the insurance in his state…

@desmondjefferson2127

4 ай бұрын

Exactly, this is just Boomers wanting the governor to fight woke but NOT for their insurance. 🤣😂🤣😂🤷‍♂️ They are getting exactly what they voted for and I'm HAPPY AF that they are too

Literally people move to Florida from cities in the north east and are shocked that their is a downside of their move

In insurance they say at a certain point any risk an be a good risk at the right price. $500k a year lmao. Once you end up in LLOYDS you're fucked. They dont pay claims for years. You'll be in british court forever waiting on repairs.

@just_icethereal

8 ай бұрын

Interesting, waiting on a lloyds claim now

Had condo Sebastian Fl. Reflections on river they had Lloyds of London they held up payment for close to year after jean Francis hurricanes 2004 was three years to get repairs. State farm individual ins. said you had 90 days to get repairs done or they would not pay deductible

I think the answer here would be to self insure and make everyone aware of what the coverage will be at any point in time....

Obviously, folks won't be retiring to FL anymore. Just wait till the next major cane hits.

@dennistyler9852

4 ай бұрын

Florida is a seasonal place to me. Can’t imagine the Summer time broiling.

The numbers don't add up? They say they were paying 56K a year and it went up to 527K a year , then the home owner is complaining about paying $890 which is 10,680 a year? Desantis did a great job during covid , but he needs to address the Insurance issue in Fl.

@SandcastleDreams

6 ай бұрын

Its the HMO's.

@AJourneyOfYourSoul

6 ай бұрын

$10,680 per unit, about 49-50 units. It is amazing to me how many people in the comments don’t understand this.

Unfortunately Florida residents like to sue Insurance companies….I’ve seen it many times over my 40 years of living here. I guess they figure that it’s like free money…..too bad those actions will affect all of us. I have owned homes since the early 70s and have not once ever put in a claim.

Florida geography is extremely vulnerable to hurricanes, rising sea levels. Insurance companies are not stupid and can not afford the risk. Also, many condos on the cost get exposed to foundation and structural corrosion…. Very costly to repair. Florida is for rich people mostly, unless living in the sticks.

Once I bought a house and at closing time I was having trouble finding homeowners insurance. I called my insurance agent and he said we found someone. I asked who? He said Lloyds of London. I got the insurance and still have the house.

its not the price of the house anymore,,,,,its the added price of taxes, insurance and lot rent..thats what kills you Reply

@ericwsmith7722

2 ай бұрын

But yet the government is still pushing the "dream" of homeownership...like its the key to financial independence,,,,, or slavery if your eyes are wide open.

I love where I live !! My mom and dad left it to me when they died. It isn’t lavish. It’s not in a gated neighborhood. It isn’t a new community. It was built in the 50s. It’s got your typical 4 seasons. But ! ……. It’s also completely paid for ! It’s 1800 sq ft with a big front and back yard. The neighbors keep to themselves. Everything is within 1 mile - the tennis club that I belong to,, the stores, markets, restaurants, local parks, gas stations, VA hospital (10 minutes away),, local hospital and police station and fire station. Everything ! Why in hell would I move ??? You can have Florida. I’ll stay right here in Washington state!

thoughts of selling taking equity and pay cash and self insure give to companies the finger

Insurance companies have been giving money to the political campaigns of Republicans. DeSantis’s campaign received a $225,000 influx of cash from the Florida Insurance Council, a political action committee backed by the state’s major insurers.

@gobbletegook

8 ай бұрын

@@aldoe7746 Meaning that DeSantis is turning the other cheek sweetness, since he is on the gifting end of the insurance companies, and isn't doing much about it for fear of loss of donations from them. When the Democrats are in power, I will say the same thing about them. Okay? But right now, he is spineless in dealing with this problem, which will mean no-one will be able to mortgage to buy or build homes in his state. Even more--so since all have to have flood insurance based on his legislation, but no one will write flood insurance. Peace be with you.

@Member-el4zo

7 ай бұрын

The last guy the Dems tried to foist on us for Governor was caught passed out with meth in a hotel room in Miami

@NottaTrick

7 ай бұрын

Trickle down economics at its finest

I’ve told long ago that insurance premiums will skyrocket and will rival mortgage payment itself.

With the damage caused by hurricanes, tropical storms, saltwater intrusion, etc. What insurance company can afford the risk?

I saw a condo in Tribeca NY that had a $24,000 a MONTH HOA fee. I live in a cabin in the mountains with no electric bills, no water bills and no heating bills. YES the homeowners insurance with State Farm Insurance went up 300 % so I may not have homeowners insurance next year. Insurance is a scam!

@prmath

11 ай бұрын

I see why they’re leaving NY like fleas off of a new sprayed dog 😳

@JusticeAlways

11 ай бұрын

I haven't bought home insurance for 31 years now. My house is just fine without it. If need be...I can rebuild with the money I've saved. Insurance is a scam.

@orethawitcher3133

10 ай бұрын

Who can afford that were living on borrowed time

F HOA'S!!!! and insurance companies ugh! 😡🤬👎

The rest of us have been subsidizing people living in areas prone to natural disasters like Florida for years. This is not isolated to Florida, however. It is starting to hit communities in most coastal areas, and also inland communities prone to wind storms in "tornado alley" as well. The insurance companies will eventually drop storm damage coverage and stick to fire only. No other way.

these carpet baggers gotta pay up lol warms my heart

If they were defects as constructed, weren’t there building codes that were supposed to be enforced? Who got paid off to turn their heads the other way? Too late now. It’s become your problem

One mor reason to get the heck out of Florida.

I looked at a townhome on top of a hill overlooking a big field, I told the realtor no because of the potential fire liabilty. I am glad I did. You would get screwed over if you live there.

This is how they’re going to get homes from people. Our homeowners association fees increased a whooping 10% in just one year! Unacceptable.

Paying for insurance thats doesnt cover. Why they have to? it should be illigal.

run down property causes a huge insurance risk

The governor better get back here and work on rectifying this problem. Pronto!

Floriduh is a criminal state where there is a scam a minute. So glad we sold on and moved 5 years ago.

I am a rich old guy who lives on the golf course and I demand that everyone else pay for my insurance

Did anyone mention that 85% of all insurance claims in the United States are in Florida?

Should be ability to self insure. If you put $500k into bank for 5 yrs you have $2.5m of coverage lloyds covers. Or, half pmts $250k for 10 years to save up $2.5m. Keep going for 20 years and everyone is better off with self insured pool of $’s. Make the owners all sign waiver on any pre existing conditions/ construction issues. If at some point insurance is too high we resort to what the pioneers did.

The master coverage includes the grounds and buildings.

Best advice, don't move to FL unless u r rich and wanna die in peace or big business owner, no one else welcome, stay away.

That $800 per month is probably the condo fees and not just the association insurance.

Who would have thought that building over a swamp would be so risky.

makes me wonder if condo to apartment conversions are going to be on the rise. The apartment owners can just go on a cash basis with no insurance and I'd suspect its much cheaper. That would be unfortunate as that would make the already rising apartment rentals an even higher ratio when considering rentals vs ownership. Ownership should always be part of the American dream and it's definitely under attack.