Another Piece of the Housing ScrewJob

by Karl Denninger

Oh this has got people upset….

Last May, Florida Gov. Ron DeSantis passed legislation mandating emergency reserve funds for condominiums statewide after the tragic collapse of the 12-story Champlain Towers South in Surfside.

Well actually DeSantis signed legislation — the Legislature passed it.

The bill provides a statutory requirement for condo boards to maintain reserves for structure inspections and a good chunk of potential repairs that might be needed, with the inspections starting after a given period of time post-constructing and continuing to make sure that there isn’t another Surfside collapse.

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