Yeah. If I had to climb that high, I’d be absolutely terrified…and would go full turtle and in need of a rescue.
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I wonder how it was built and how sketchy that was. I’d definitely be crying on those top telephone pole style handles. There are other tower climbing videos on Youtube that are just as or scarier looking.
This sounds like a lot of hysteria. A building collapses 40 years after being built due to design flaws and failure to fix in time and suddenly the idea of Florida as a place for retirees is a Ponzi scheme?!
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Like Chapo (one of Chapo) said, there was cocaine and cocaine money trying to be laundered everywhere then. I bet a lot of things got overlooked.
Life is a Ponzi scheme, brother.
Any chance The Villages might implode or fall into a sinkhole?
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Is it paranoid or realistic to think these old 80s era condo buildings are probably all ticking time bombs? A huge part of me thinks it’s paranoid but boomers gonna boomer so having a huge percentage of them in total disrepair would not be surprising at all.
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Small (general aviation) planes crash all the time.
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jfkjr crash counted as pilot death, even though you couldn’t really categorize it as his job. a lot of general aviation statistics are weird like that.
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I’m with Madden almost on this one for smaller planes.
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A lot I think is going to depend on what part of the country these buildings were built. Buildings being put up in the 80s in San Francisco close to the water were using rebar and tie wire that was coated in some sort of vinyl or epoxy to stop corrosion.They were also be engineered to withstand seismic activity. I imagine the builders in 1980s Florida were not doing any of these things.
i don’t think so. buildings might start failing due to catastrophic flooding (and miami will be unlivable) before buildings start failing due to mistakes of the 80s.
Tangentially related…
The big issue, which isn’t unique to the condo that collapsed, is that these buildings are controlled by the owners of individual units and so there is a huge disincentive to vote to make the needed repairs, which could result in special assessments in the tens to hundreds of thousands of dollars for the condo owners. Few people want to vote for that, and there are probably a substantial portion that may not be able to afford it. These condos are located it places that regularly get subjected to harsh conditions, winds, flooding, and salt water, so it seems like these types of major structural repair investments are going to be inevitable for these buildings in Florida. I think the article is right and we are going to see an incredible amount of scrambling to fix buildings all around south Florida.
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This.
I can’t imagine any of these buildings are filled with people that can just cut a 100-300k check. That’s probably a huge chunk of the entire value of the unit.
So I guess they are just going to condemn a ton of these buildings and everyone who owns a unit is just going to lose their home/investment. Seems like a storm is brewing.
Time to speculate on Florida single family homes when the condo market collapses, or does this just destroy the entire Florida housing market?
https://mobile.twitter.com/DeFede/status/1411504748298182667
https://mobile.twitter.com/DeFede/status/1411504751695499266
This is going to be the biggest problem condos face. We were told just recently at the AGM for our condo building that our monthly fees went up substantially because of skyrocketing insurance rates and difficulty finding insurers. And we live an an area that’s largely unaffected by climate change. This is a massive liability for insurance companies that they’re just not going to be willing to take on any further.
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Exact same thing at my condo. We raise fees solely for insurance which went up 50% last year. Governments are going to have to step in and stabilize the markets.