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JI7

(93,650 posts)

56. They also cost much less compared to ocean front property in other areas

Reply to berni_mccoy (Original post)

Tue Jun 29, 2021, 08:43 PM

Jun 2021

Probably becsuse of the lack of regulations and all the costs that go with it.

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"How could a collapse of a condo in Surfside, FL happen?!" [View all] berni_mccoy Jun 2021 OP

"Why?" Tommy Carcetti Jun 2021 #1

Amazing film. mountain grammy Jun 2021 #60

Honestly, I've never given it a thought. Phoenix61 Jun 2021 #2

what I cannot understand Skittles Jun 2021 #55

Clearly, regulations failed the residents. But I'd bet the residents would not have ponied up money Hoyt Jun 2021 #3

And that is the absolute truth malaise Jun 2021 #16

There are 342 condos in the building Turbineguy Jun 2021 #17

This says 136 units in Champlin Towers South. $15M/136 equals $110,000/unit progree Jun 2021 #22

I saw that. Maybe Turbineguy Jun 2021 #23

Three towers per your link, but each apparently has its own HOA progree Jun 2021 #24

Excellent research. Turbineguy Jun 2021 #26

The reporting today is that repairs were expected to be about $15m, and work was starting to Politicub Jun 2021 #25

I had this thought exactly Larissa Jun 2021 #30

It's possible that environments can change over 40 years dumbcat Jun 2021 #40

The building would have been condemned in other states. berni_mccoy Jun 2021 #39

But where I live, where there are regulations, we keep hefty insurance to cover Scrivener7 Jun 2021 #48

No insurance expert, but I don't think normal property insurance covers Hoyt Jun 2021 #49

I imagine that because the letter went to the owner. GulfCoast66 Jun 2021 #50

Matthew 7:26 whistler162 Jun 2021 #4

That's not a bit judgie. Ouch! littlemissmartypants Jun 2021 #32

No, the answer is not simple. We don't know exactly what it is yet but it's definitely not simple. Towlie Jun 2021 #5

People on the Internet always have if figured out before the engineers. Steelrolled Jun 2021 #57

I think snowybirdie Jun 2021 #6

Inspect an entire building every time a unit is sold? Towlie Jun 2021 #8

Not every unit snowybirdie Jun 2021 #10

Build them cheap and sell them high... lame54 Jun 2021 #7

In 1973 Skyline Plaza, a condo under construction collapsed killing 14 workers. FSogol Jun 2021 #9

In my city frazzled Jun 2021 #11

remember the bridge they found a gaping crack in? getagrip_already Jun 2021 #13

So many of the bridges are 100 years old or more frazzled Jun 2021 #14

Free Market Florida Stinky The Clown Jun 2021 #12

After the photos that came out last night, I'm surprised this doesn't happen more often. Initech Jun 2021 #15

It wasn't the pool. hunter Jun 2021 #38

Yes. 22-Years of Republican rat-fucking laws and regulations... Grins Jun 2021 #18

And now they can watch the free market Mr.Bill Jun 2021 #28

Yep. And in Colorado, the state legislature (Dem controlled) has been PatrickforB Jun 2021 #19

More of the "private profit, socialized risk" that Republicans love so much. Rabrrrrrr Jun 2021 #21

Like everything else capitalists touch: get the money and run. Stiff the stiffs. erronis Jun 2021 #37

One reason I won't live in a red state - lack of regulations on road, building, Rabrrrrrr Jun 2021 #20

The same reason that fertilizer plant wiped West, TX off the map gratuitous Jun 2021 #27

WOW! dhol82 Jun 2021 #31

I remember that one well malaise Jun 2021 #44

I Met One Of The Investigators For That ProfessorGAC Jun 2021 #46

Every 40 years is ridiculous mcar Jun 2021 #29

Kick. Thank you. ❤ nt littlemissmartypants Jun 2021 #33

Everyone gets to see what life is like in a third-world country. Scalded Nun Jun 2021 #34

+1 n/t area51 Jun 2021 #51

The bldg. survived many severe hurricanes appalachiablue Jun 2021 #35

Actually it has not. Many hurricanes have come near, but none hit. GulfCoast66 Jun 2021 #53

That's interesting, what I read didn't appalachiablue Jun 2021 #61

I guess you get used to it. GulfCoast66 Jun 2021 #62

Concrete and steel buildings have a limited lifespan, anyway Warpy Jun 2021 #36

This makes me think of the bridge that collapsed Steelrolled Jun 2021 #58

Those glitzy high rises are often not that well constructed Warpy Jun 2021 #63

still gotta pay the mortgage even if the building has collapsed nt msongs Jun 2021 #41

Isn't there a thing called insurance? berni_mccoy Jun 2021 #42

homeowners condo insurance does not pay for walls and floor and ceilings, only for msongs Jun 2021 #43

The condo association should have insurance on the whole building. yardwork Jun 2021 #54

There will be an enormous claim for the common property and Steelrolled Jun 2021 #59

K and R Quixote1818 Jun 2021 #45

The same way Texass' grid went down: no regulations, Hassler Jun 2021 #47

I wish I could rec this a thousand times. yardwork Jun 2021 #52

They also cost much less compared to ocean front property in other areas JI7 Jun 2021 #56