Not only are two of my friends parents not going to Florida on vacation, they’re selling their condos down there, because they can’t keep up with the payments due to the exchange rate… Which has a side effect of crashing the real estate market… Because nobody wants a place in hurricane alley where the home insurance is $1600+USD/month, in addition to condo fees and mortgage payments.
Not only are two of my friends parents not going to Florida on vacation, they’re selling their condos down there, because they can’t keep up with the payments due to the exchange rate… Which has a side effect of crashing the real estate market… Because nobody wants a place in hurricane alley where the home insurance is $1600+USD/month, in addition to condo fees and mortgage payments.