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When you speak of “ fixed income “ people are you talking about those who have rent control ? The condo or property owners are no way a “ fixed income people” since you need to be wealthy to even own one down there. Average price 1 bedroom is over 400k. They can handle the assessments. Apartments are a different thing. Those living in a rent controlled apartment are not subject to those same assessments.
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You're incorrect, some of these were bought 20 years ago. Or owners traded all their northeast home equity for these units as retirement homes. Many live on social security and small pension.
Further, all older buildings , regardless of ocean front or not, are being inspected.
Crestview Towers is just one of the more than ten South Florida buildings evacuated for safety issues after the Surfside collapse
https://www.nbcmiami.com/news/local/...ystem/2801714/
