WEST PALM BEACH, Fla. — Jimmy Patronis, Florida's Chief Financial Officer, was at WPTV on Thursday afternoon to talk with us about the state's condo crisis.
Condos are now buckling under the weight of rising insurance after new laws were implemented following the Surfside tragedy in 2021.
A looming deadline this year for assessments has forced many owners to sell their homes.
Real Estate News
DOUBLE WHAMMY: Condo owners feel 2 insurance hikes at once
We asked him if he would support lawmakers convening before the end of the year to help with the problem. It's something Gov. Ron DeSantis hinted at during a roundtable discussion this week in South Florida.
"I think a special session might work," Patronis said. "Just the sheer number of condominiums in Florida we have, it's a massive liability, not just for the condominiums but stability in the housing market."
WPTV will be following the latest on whether a special session will be called and if any relief is in sight for condo owners being hit with big bills.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV's latest "Coverage Collapse" stories below:
-
Black Friday is starting early — but will buying now really save you?
November has now become a month of Black Friday sales events. But some of the sales are better than others, and different types of items are on markdown on different days. Here's when to shop.
'A scary time': Residents brace for longer lines if SNAP benefits lapse
WPTV found in Palm Beach County, since 2022, 64,176 households receive SNAP benefits, helping feed 162,053 people.
Save on expensive cold and flu medicine, as sniffle season begins
A box of cold medicine can now cost $30 or more. Pharmacists reveal how to save on expensive over-the-counter meds.
This coalition is offering incentives to employers to help with traffic
Running into traffic in South Florida feels inevitable. With projections it's only going to get worse, local governments and grassroots groups are looking at ways to help alleviate the gridlock.
