The cost of a nice condo directly on the beach in south florida isn’t the issue, it’s the insane HOA fees.
2bd 2ba condo around 250k in ft lauderdale is right up my alley. $2000 monhtly HOA fee. In fucking sane
Edit -
Just stayed down the street from this place a few weeks ago, awesome location.
They’ve dropped the price 100k in the last 4 months
I’d be okay with an HOA if it included property taxes and insurance.
I’m still looking, prices haven’t dropped enough yet…we just stayed at a condo in Hilton Head $650k… I need to be around $400k to make it work.
Builder I work for bought 10 lots down there. I think hes gonna get fucked.
just snooping around… $3059/month HOA fee WTF!!!
And needed to be remodeled 10 years ago
Gotta remember, these places are having a hell of a time with insurance. Friends condo had the roof badly damaged last hurricane, insurance wouldn’t cover it, so everyone in the building is paying for the roof. I don’t doubt a lot of these crazy HOA fees are in response to insurance problems.
yeah seems the ideal situation is a small family compound rather than a nice condo
I’d be willing to live within a ten min walk of the beach to save on fees lol second floor of course
Problem is 10 minute walk is still going to lose it’s roof in a hurricane. My buddy’s place is more like a 10-15 minute drive and lost his. The inability to get insurance for lots of these places is a huge issue. At the same time, as someone that lives in a geographically stable area where I am very unlikely to suffer a total loss of my home due to natural disaster (wildfire, flood, earthquake, hurricane etc) that still has to buy homeowners I do appreciate companies saying, “This area has too many claims, we can’t afford to keep doing business here without raising everyone’s rates or going out of business”.
The answer will probably be similar to what insurance does with people that want to live in a flood zone. FEMA will need to setup “hurricane zones” and you will be mandated to purchase an additional policy through the government if you live in an area deemed a high risk hurricane zone and want a mortgage, similar to areas deemed flood zones with flood insurance. If it’s a low to zero risk hurricane zone you wouldn’t be forced to buy hurricane insurance, but at the same time your regular homeowners insurance wouldn’t cover hurricane damage (again, the same way homeowners won’t cover you in a flood).
I’ve been casually looking in St John for a few years now. No banks will lend and no insurance will cover anything because it’s pretty much 100% chance the property gets nailed. The only solution is to design a structure that’ll hold up… And that means a dome or shipping container, lol.
just build all the houses like this guy. https://www.nytimes.com/2018/10/14/us/hurricane-michael-florida-mexico-beach-house.html
“Double the square footage cost” is a bit excessive, lol. My problem wouldn’t be storm surge but wind… And weeks without power or water like the last hurricane. Love to see that we can design homes for 250mph winds though 
This is 5 min from me. From $3.2m to $1.85m in 3 years… yay…
These are exteme examples and the inflated sold price from 2022 is probably a related party or partially fraud
How much of that market was purchased by private firms or foreign entities?
dunno, pretty high though.
this is the main doom-podcast for Canadian real estate right now. mostly focusing on the Toronto condo market
What’s the tax assessment on that property? 
This was a dump of a property only a few years ago:
