Florida's real estate meltdown is leading to a second crisis: so many condo owners have stopped paying their fees that associations have had to cut back on maintenance and repairs, leading some to fear a "death spiral" for condos.
"Florida's condominium and homeowners' associations are facing what experts call a trickle-down disaster from the property crisis. Dozens and perhaps hundreds of condo buildings have budget shortfalls as thousands of owners, under water on their mortgages or in foreclosure, stop paying monthly fees.
Nearly half of Florida's 18 million residents live in condo or homeowners associations, communities where owners pay monthly fees for common expenses like cleaning, landscaping, pool maintenance and building insurance.
No one seems sure how many condo buildings are in trouble but the number of calls to Florida's condo ombudsman could be an indicator. They are up tenfold in recent months. The crisis could mean serious pain for Miami Beach, a resort town with 88,000 residents and 42,000 condos. If debtors walk away from their units, buildings could become derelict."
Read the full story: U.S. Property Bust Threatens Condo "Death Spiral"
Portland Affordable Condo Project Offers a Path to Homeownership, but is it a Long-term Solution?
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Toronto Condo Sales Drop 75%
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
‘Going backwards:’ Baltimore mayor, students rally against state's transit funding plan
Maryland's proposed six-year plan provides no funding for Baltimore’s BMORE bus program and reduces its road maintenance funding.
Mamdani sent nearly 6,000 pied-à-terre tax warnings to homes that didn’t qualify
A judge has ordered the administration to cancel thousands of pied-à-terre tax notices after it sent 35% of them erroneously.
Mamdani sent nearly 6,000 pied-à-terre tax warnings to homes that didn’t qualify
A judge has ordered the administration to cancel thousands of pied-à-terre tax notices after it sent 35% of them erroneously.
Detroit to transform waterfront with $2.2 billion investment
Developers will convert about 18 acres of unused parking lot space into civic spaces.
‘Going backwards:’ Baltimore mayor, students rally against state's transit funding plan
Maryland's proposed six-year plan provides no funding for Baltimore’s BMORE bus program and reduces its road maintenance funding.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
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City of Thousand Oaks
City of Wisconsin Rapids
Harvard University Graduate School of Design
The Architects Foundation
University of Cincinnati Online
Northern Illinois Transit Authority (NITA)
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello