shades of ‘08?
No more like Shades of KAMUNSM and Bidenomics!! Don’t EVER FORGET!!
shades of ‘08?
Nope, “08 was caused by bad lending practices. These condos are just being repositioned to the true market. As the article notes, owners are having to put additional funds in reserves to meet the challenges of deferred maintenance and management.
Also this is only effecting a small part of the total market, even in Florida.
I suspect that with the example shown, that the home owner will walk away with a profit, if he owned it for 20 plus years. And they had a place to live for 20 years.
“shades of ‘08?”
Could very well be. Think of all the mortgages under water as a result of this.
Banks are going to be in deep doodoo, and billions in equity evaporated for the owners.