Florida's new regulations for older condominiums, prompted by the 2021 Surfside collapse, require buildings over 30 years old to undergo costly inspections and repairs, impacting around 1 million units. Many owners, particularly retirees, face assessments up to $200,000, leading to a surge in listings and a 21.5% drop in sales. As the financial burden mounts, some are selling to investors or considering foreclosures, while the state legislature plans to address the situation in 2025.
