Reported 2 days ago
The tragic collapse of Surfside's Champlain Towers South has led to significant increases in Florida's condo fees, jeopardizing the housing stability of many retirees. New laws require full funding of maintenance reserves and structural assessments for older buildings, causing monthly fees to climb. Many seniors, particularly those on fixed incomes, struggle to keep up with escalating costs, prompting some to sell their homes and relocate. In some areas, monthly homeowners association dues now exceed $1,000, contributing to a perfect storm of financial challenges that may push retirees out of the state.
Source: YAHOO