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The South Florida condo market is facing a major crisis. Since the tragic collapse of the Champlain Towers in 2021, buyers have become increasingly wary of older buildings, and new laws enacted in 2022 have made condo ownership even more challenging. With strict inspection and reserve fund requirements now in place, many condo associations are struggling to comply, and some buildings have yet to complete their mandatory milestone inspections—despite the December 31, 2024 deadline. As a result, condo prices are dropping drastically, and properties are sitting on the market longer than ever. Buyers are hesitant, insurance costs are skyrocketing, and the financial burden on current owners is only growing. In this video, I break down what’s happening in the South Florida condo market, why prices continue to decline, and what it all means for buyers and sellers in 2025. If you’re thinking about buying or selling a condo in Florida, you won’t want to miss this! Like, comment, and subscribe for more South Florida real estate updates. Enjoy Paradise, BEST WAY TO CONNECT WITH ME AND GET ON MY FREE PROPERTY SEARCH-https://bit.ly/3V5p2QY Paul G. Lykins Vice President True Floridian Realty Direct: 561-877-3074 Email: [email protected] VIDEO CREDITS; CBS MIAMI- • New Florida condo laws force South Florida... CNBC TELEVISION- • Impending Florida 'condo cliff': Here's wh... WPTV NEWS- • How Palm Beach County will penalize condos... WPGL10- • "I can't afford it': South Florida condo o... Become A Member To Get Exclusive Access And Perks: / @palmbeachespaul Buy Me A Coffee: https://www.buymeacoffee.com/palmbeac... Disclaimer: I am not a lawyer, CPA, or financial advisor and any info in this or any of Palm Beaches Paul's videos are my opinion only and for entertainment purposes only. I am a licensed Florida Realtor (BK-3265266) and can only advise you about buying or selling in the state of Florida; however, I can refer you to an agent in your state if needed (I will earn a referrall fee ). Do not base your decision to buy or sell real estate solely from watching any of Palm Beaches Paul's videos and always consult a licensed professional or lawyer. Fair Use Disclaimer: This video may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. All clips used are protected by the Fair Use Doctrine within Title 17 of the United States Code. This doctrine safeguards the use of copyrighted material for transformative purposes, such as commentary, criticism, review and news reporting. Under Title 17 U.S.C. § 512(f), any person who makes a false, bad faith, or misleading copyright claim or uses a copyright takedown to infringe on free speech, criticism, or commentary can be held liable for damages to the content creator. Hosseinzadeh v. Klein, 276 F.Supp.3d 34 (S.D.N.Y. 2017); Equals Three, LLC v. Jukin Media, Inc., 139 F. Supp. 3d 1094 (C.D. Cal. 2015). This post may contain affiliate links. From time to time, I recommend only products or services that I have used or know well, and, as a result, I may receive a commission if you purchase them through my affiliate URL links. Purchasing through my affiliate links is at no extra cost to you and will help support my growth of this channel or just buy me a beer or coffee. Thank you! https://www.amazon.com/shop/palmbeach... #Realtor #DelrayBeach #WestPalmBeach #BoyntonBeach