XPost: alt.politics.usa, alt.business, alt.survival
XPost: alt.fan.rush-limbaugh

https://www.dailymail.co.uk/real-estate/article-14818465/Floridas-fragile-condo-market-faces-devastating-final-blow.html

. . .

My old man was involved in some of this construction
boom in the 70s/80s. He DID tell me the TRUTH ...
about fat packets of cash to 'inspectors' and such.
Said to NEVER live in one of the damned things.

The beachfront condos were the RAGE in the
70s/80s. They built them as fast and cheap
as possible and then sold them for Top $$$.
This was the pattern kind of from S.Carolina
all around Florida and around to the Texas
coast. The SAME people built a lot of them.
SAME shoddy tactics too.

Real world CLUE folks ... plain steel rebar
does NOT get along with salty water/mist.
It rots, decomposes, destroys the concrete.

Coastal condos - SHOULD have used stainless
rebar on the first few floors - but it's
more EXPENSIVE ... so they DIDN'T BOTHER.

NOW we have lots and LOTS of big buildings
that are NOT structurally sound. Florida did
a survey after the Miami condo collapse - and
found LOTS of bad things. But NOW ... it's
all been kind of BURIED. The Big-$$$ interests
have managed to kind of HIDE the info.

In truth, almost ALL of those things should
be DEMOLISHED for safety reasons. 'Repair'
is an ILLUSION ... can't really get there
from here. We're talking the main columns
that hold up 12+ floors.

SO ... I think shortly ... we're looking at
a MASSIVE value collapse. That will include
a MASSIVE financial implosion. There aren't
even nearly enough alt locations to HOLD all
the beachfront investors. Huge LAWSUITS are
going to shortly follow. More TOTAL COLLAPSES
can happen any time.

Hurricane season has returned. The east coast
has been spared the past years, but that can't
last. A cat 3/4/5 into south Florida would be
a total, lethal, DISASTER. Entire huge
buildings would COME DOWN.

Yesterday's shortcuts DO come due.

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