Owners struggle to pay for new safety requirements in Florida

World Today

Owners struggle to pay for new safety requirements in Florida

In the aftermath of the tragic collapse of a high-rise condominium complex in South Florida three years ago, new regulations were enacted to ensure the safety of residents living in other aging condo buildings. Now, a so-called ‘condo crisis’ is gripping Florida, as many owners find themselves caught in a financial storm due to the hefty costs of mandated repairs and updates. CGTN’s Nitza Soledad Perez reports.