Posted on 06/27/2021 4:07:32 PM PDT by TealsGuy17
What is likely to happen with the "Still Standing"half of the condo building is probably a no win situation for the owners. The first option is a worst case scenario. The second option is after all the debris is cleared, engineers and inspectors can look for the inevitable wear and tear in the concrete supports. But does this mean they will have to dig out the entire base of the condo, maybe even close to the bedrock? Do you think anyone would want to take part of digging that hole if it comes to that? Maybe some of you out there can contemplate what will happen with the remaining units in the months to come.
Does Florida have bedrock? I thought it was sand all the way down.
I thought mud was the bottom of a swamp.
Difficult situation since it’s a condo. The condo association will be bankrupt. The owners of the condos probably have no recourse against a bankrupt association unless there was insurance. Doubtful that the insurance would cover anything coming out of this particular situation
First question is building code violations and construction of the building.
It reminds me of China where cheapness and cutting corners cause buildings to collapse.
It’s a form of corruption.
The Floridian peninsula is a porous plateau of karst limestone sitting atop bedrock known as the Florida Platform. ... The limestone is topped with sandy soils deposited as ancient beaches over millions of years as global sea levels rose and fell.
The remaining condos and probably similar structures will be condemned and demolished out of obvious safety concerns.
Are we a 3rd world country, like for real? We have been importing a 3rd world population for decades. Maybe the tipping point has been reached. Maybe not ... yet.
Folks in surviving units need to carefully review their insurance policies.
Best case scenario include crippling assessments and largely unmarketable units. Indeed, folks in similar buildings of that generation are likely to face a sudden decline in their net worth.
so are all the owners gonna get a 700,000 check from State Farm and Geico?
Implosion. There’s no way to tell if the piles were damaged during the collapse of the larger portion, and there’s not a lot of HOA Board Member’s left to deal with it. In any case, the cost to the HOA would be insurmountable/ The building is a loss. Take the insurance and move on.
The more difficult question is the sister building. It will have to be well established that it is not suffering the same flaws, which largely seem to be the result of unchecks leaking, at least at this point.
24 “Everyone then who hears these words of mine and does them will be like a wise man who built his house on the rock. 25 And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. 26 And everyone who hears these words of mine and does not do them will be like a foolish man who built his house on the sand. 27 And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it.” — Matthew 7:24–27
They can sell their condos to Biden so he can move a bunch of illegals in.
While one can probably hire an expert to say anything, it's going to be difficult to establish construction defects in a 40 year old building. Missing steel in the concrete might do it but the way the slabs held together makes that look less likely.
I imagine every one of those units will be torn down.
The owners of the other units are screwed. Their home and/or investment are in the toilet. Total loss. Everyone will be homeless.
It’s a Democrat county so maybe Biden will put enough money in his infrastructure bill to pay for the condo to be torn down and rebuilt. But he may require a certain percentage of the units to be Section 8 housing.
When you buy a condo, you own is the air between the walls and a partial share in the building and the ground it stands on. S. What happens when the walls go away? I suppose you get an insurance settlement, but you still own a partial interest in the ground it stood on.
Then what?
Evacuate and Demo.
I’ve never owned a condo and have always recommended against it. Though part of the reason lies in the fact that I also refuse to purchase a single family dwelling in an HMA. The only “fees” I’m willing to pay are real estate taxes. And I also value simplicity.
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