The Truth About Florida’s Condo Crisis and Aging Buildings
In June 2021, the tragic collapse of the Champlain Towers South in Surfside, Florida, became a wake-up call for communities across the state and the nation. The event killed 98 people and exposed a widespread, growing issue: thousands of aging condo buildings in Florida are overdue for inspections, underfunded, and in need of major repairs. Today, Florida’s condo crisis is reshaping the real estate market, creating both serious risks and strategic opportunities for buyers, sellers, and developers.
This article explores what caused the crisis, the laws designed to fix it, and what it means for South Florida real estate today.
What Triggered the Condo Crisis?
The Surfside Tragedy
The collapse of the Surfside condo was a turning point.…
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