Florida Housing Market Faces 'Nightmare Scenarios' as Deals Collapse

[Anonymous]

I've been in Florida a long time and would not ever have bought a beach condo. Condos are a no generally because of special assessment nightmares, and beach was always a no bc of erosion and hurricanes. Housing remains desirable for single family homes further from the cost, but a big issue is only luxury is getting built.

[Anonymous]

I rent my Florida condo for $8500 a month. HOA is $1100 a month. That allows me to pocket about 7k a month. They keep building new condos that are double/triple the cost of my condo right across the street and down the road and everywhere else. Quite the opposite of a nightmare.

[Anonymous]

Anonymous wrote:I rent my Florida condo for $8500 a month. HOA is $1100 a month. That allows me to pocket about 7k a month. They keep building new condos that are double/triple the cost of my condo right across the street and down the road and everywhere else. Quite the opposite of a nightmare.

How much are your insurance and taxes and utilities above the HOA?

[Anonymous]

Anonymous wrote:I rent my Florida condo for $8500 a month. HOA is $1100 a month. That allows me to pocket about 7k a month. They keep building new condos that are double/triple the cost of my condo right across the street and down the road and everywhere else. Quite the opposite of a nightmare.

But that's furnished & seasonal, right? I don't think many people are paying $8500 per month for an annual unless it's super high-end which is not the norm for most condo owners. I am only getting $2k for seasonal furnished and my unit is directly facing the water.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think home owners insurance is the issue in Florida.

This. The average cost of homeowners insurance in Florida in 2024 is $8,770. This figure surpasses the national average of $2,423.

I live in florida, but not near the coast and not in fancy condo or any of this. Everyone around me lives in the typical block house, and if you have an updated roof, you're not paying anywhere near this. Most people I know pay under $2,000.

You have no clue. The rate depends on the value you’re insuring your property for and the location. I know people who pay a multiple of this and their houses are in top condition or new builds all impact ofc.