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:
-
Execution over politics: How Target's operational fixes are paying off
Target posts its biggest comparable sales gain in four years, as new CEO’s $6B overhaul and fresh brand collaborations draw shoppers back.
War in Iran could make your next oil change much more expensive
Soaring oil prices are starting to hit another service: your car's oil change. A shop owner explains why he can no longer afford to offer $39 oil changes without losing money.
Big student loan changes hit July 1, but most borrowers say they're not ready
Experts warn major July 1 student loan changes—caps on Parent PLUS, end of Grad PLUS, fewer repayment plans—will reshape college funding plans.
World Cup tickets: From $3K Miami sticker shock to $500 Atlanta success
The quest to purchase World Cup tickets can be frustrating, exhausting and disappointing for many soccer fans. Fans trying to get tickets to the coveted matches have been greeted with costs in the thousands of dollars.
