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Old 06-26-2014, 07:53 PM
 
Location: FLORIDA
8,963 posts, read 8,839,103 times
Reputation: 3460

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Condo owners losing homes as investors buy up Florida complexes
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Old 06-26-2014, 09:15 PM
 
Location: New England
3,847 posts, read 7,920,233 times
Reputation: 5996
It's reminiscent of prebubble ..
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Old 06-26-2014, 11:57 PM
 
3,250 posts, read 2,080,249 times
Reputation: 5054
Legal thievery, plain and simple. This is enough to make somebody vomit. While I'm generally a supporter of property rights and contract law, this is a perversion, and representative of the dangerous side of property investment.

It's not just condos and apartments, thought, but even single-family home neighborhoods can be destroyed by investors swooping in and renting out homes indiscriminately. It doesn't take much for lower-middle to middle class neighborhoods to be transformed into suburban ghettos. Florida yields an abundance of examples of this for various reasons.

The government is often complicit in what should otherwise be considered criminal behavior, so long as it favors the few. That much isn't unique to this state, however.
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Old 06-27-2014, 02:10 AM
 
5,606 posts, read 3,483,834 times
Reputation: 7413
Meh, it reads to me that he's hacked off because he bought his condo in 2007 during the boom and now it's only worth about 60% less than it was.
Welcome to the market economy,baby.
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Old 06-27-2014, 02:58 AM
 
203 posts, read 516,686 times
Reputation: 153
Does this also apply to townhomes?
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Old 06-27-2014, 06:52 AM
 
Location: Florida
23,155 posts, read 26,062,972 times
Reputation: 27887
His fellow condo owners are the ones he should be angry at.

."State law says a condo can be terminated if at least 80 percent of the owners agree. But it also says that if 10 percent oppose the termination, the condo can't be terminated."

Pinellas condo owners fighting to keep homes will get their day - WFLA News Channel 8
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Old 06-27-2014, 10:19 AM
 
Location: Heartland Florida
9,324 posts, read 26,662,497 times
Reputation: 5038
Quote:
Originally Posted by RayNagin504 View Post
Does this also apply to townhomes?
Only if the townhomes are in a condo association. Townhomes on public streets are not vulnerable.
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Old 06-27-2014, 10:31 AM
 
Location: Central Florida
2,062 posts, read 2,528,953 times
Reputation: 1938

I don't trust any kind of hoa ( home owner's association ) type housing. I want total control over my house investment.
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Old 06-27-2014, 02:27 PM
 
Location: Lincoln County Road or Armageddon
4,972 posts, read 7,164,379 times
Reputation: 7224
Quote:
Originally Posted by Roscoe Conkling View Post
Meh, it reads to me that he's hacked off because he bought his condo in 2007 during the boom and now it's only worth about 60% less than it was.
Welcome to the market economy,baby.
I'm guessing he's "hacked off" because he's being forced by the State of Florida to sell his condo for 60% less than what he paid for it.
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Old 06-27-2014, 03:09 PM
 
Location: FLORIDA
8,963 posts, read 8,839,103 times
Reputation: 3460
Quote:
Originally Posted by Sweetbottoms View Post
It's reminiscent of prebubble ..


Its scary.
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