Sunday, September 30, 2007

The result of building too close to disaster, high prices, and speculation

Florida faces tough questions.
Two years ago, Ms. Cohan and her husband divorced. Ms. Cohan had planned on staying in their condominium, but after Hurricane Wilma, condo fees jumped to $3,200 from $1,220, reflecting higher insurance costs for the building. The couple sold their condo for $280,000 and split the proceeds. But instead of looking in Florida, Ms. Cohan paid $140,000 for a townhouse in Simpsonville, Ky. "I just couldn't stay another year and pay those kinds of fees by myself," she says.


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