A quality of life that for so long has been attainable for those of us of moderate income now threatens to slip beyond our reach. Condo living, which for decades has drawn millions of out-of-staters to Florida’s warmth and coastal bounty, is increasingly too expensive to sustain, particularly for retirees.
Some are lucky enough to pocket cash from developers who want to replace their aging buildings with luxury towers. But many who don’t want to cede their coastal views or close-in living are having the pile carpeting pulled out from under them, as the very architecture that attracted them crumbles in the sun and salt air and they’re left holding the bill for extraordinary repairs. Some may be foreclosed, evicted or evacuated and see their buildings condemned.
The Palm Beach Post reported that as of mid-January, nearly one in five condo buildings in Palm Beach County that are covered by the state’s new safety-inspection law have failed to submit even initial inspection reports. That’s a sure sign of a looming crisis…