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:
-
Tariff 'tension' could mean higher prices at Black-owned salons
As the U.S. and China remain locked in a tariff dispute, the ripple effects are beginning to hit small businesses, including Black-owned beauty salons that rely on imported hair products.
The Costco Effect: How the wholesaler can impact prices at other stores
As Costco prepares to open this Friday in Stuart, WPTV has been examining all the ways the wholesale store could impact life in the area. One of those impacts could be to your wallet.
US economic volatility leads to growing pessimism, yet signs of recovery emerge
As rising pessimism grips Americans over their finances, positive developments in trade talks hint at a potential economic recovery ahead.
Remodeling costs higher than ever; simple ways to save big money
The cost of remodeling a kitchen or bath is now nearly double what it was 10 years ago, and tariffs could send it even higher. A contractor shows some great ways to save money.
