This is a production of WEDU PBS, Tampa, St. Petersburg, Sarasota.

♪♪ Coming up in real estate, all eyes are on a Florida court case with possible statewide implications for the condominium market.

In the housing market, Tampa Bay homes are selling for nearly 6% less than they were at the same time last year.

The news, also concerning in the rental markets and state laws, are changing the way kids use their cell phones in class, and the Hillsborough County Public School System is at the center of more book bans.

These stories and more are next on Florida This Week.

♪♪ Welcome back everybody.

I'm Lissette Campos, joining our panel this week.

We have Wendy Ross, realtor from Florida Executive Realty, Darryl Paulson, professor emeritus of government at the University of South Florida, Yacob Reyes, Tampa Bay reporter at Axios.com.

And Divya Kumar, education reporter for the Tampa Bay Times.

The condo crisis is impacting owners across the financial spectrum, and it's really one of the issues that we hear most about from our viewers.

The latest development in a Miami condo lawsuit could have statewide implications for the condo market.

Take a look.

Laws tightening building inspections after the Surfside condominium collapse in 2021.

Significant assessments from condo associations to fund required mitigation.

Traditional lenders shying away from condo financing and property insurance rates rising after last year's hurricanes.

Like a perfect storm.

These factors are battering Florida's condo market all at once.

And now a court ruling by the state's Third District Court of Appeals may freeze redevelopment efforts of older condo complexes.

The court case centers on a 13 story condo building in Miami called Biscayne 21.

The appeals court ruled in favor of eight condo unit owners who had refused to sell to the developer two roads.

Of the 191 condo units, the owners of 181 did sell to the tune of $150 million.

The appeals court refusal for a rehearing leaves in place the lower court ruling against Two Roads and its developer led amendment to the condo association's governing documents, which eventually led to the termination of the condo association.

It's a case with possible statewide implications.

Condo associations in Florida are governed by the Florida Condominium Act in state statutes enacted in In 1963.

The statute was among the first of its kind in the US.

And Wendy, I'd like to start with you.

What are you seeing in the Tampa Bay condo market?

Are they selling?

Well, it's true that they are selling for less this year than they were last year.

The interesting thing, I think I think about condos historically, they've always had their challenges more so than our more dominant market of single family home sales.

They've always had their challenges, and part of that is going to be largely because of their assessments each month.

It's going to be mostly financial.

So most of the assessments now are about $1,000 a month minimum.

Sometimes they're a little less, sometimes they're a lot more.

But we're seeing those assessments along with property taxes, insurance and upkeep of some of the older buildings certainly affect people who want to get into condo ownership.

I think condo owners enjoy amenities that you don't get somewhere else.

You might have a swimming pool, you might have a tennis court, you might have a gym or a clubhouse, so I think somebody has to really weigh those trade offs.

If you want to get into condo ownership, is.

It becoming more difficult for condo owners to sell their units, and what are some of the questions that they're being asked by these potential buyers?

It is more difficult for them to sell.

It's always been a challenge, again, for them to be able to sell and for somebody to buy, because the financing that you mentioned in your story is very, uh, sometimes it can stop the ball going down the field.

It really can make a difference.

So it's more difficult maybe when the the market has more out there and more for sale and more to choose from for sure.

Um, you see that some people who bought in the past few years are really having a hard time selling now if they don't have enough equity in those properties.

So many people are following this story.

You have the condo unit owners who sell and want this to move forward, and you have other unit owners who don't want to move forward with termination.

When you look at all of this, how does this play out in in the reporting, what you're seeing in the Tampa Bay area?

Well, I think a lot of the the barriers to, to people buying condos is very similar with homeownership.

And it's happening all across the state right now.

And I think what sticks out to me the most about that is that we've had, uh, multiple special sessions this year.

Um, one of the and one of the longest, uh, legislative sessions in recent memory.

And yet this is not something that has been fixed, right?

This is not something that was made a priority.

I think we've seen a lot of, uh, red meat issues going going out.

We've seen a lot of Republican infighting.

And I think it's just it's I think it's very important that, um, that this affordable housing crisis is, is handled.

Um, and I think that's something that people might want to talk to their state representatives about.

And on the other side of, of the argument are voters who say that it was the legislators who created this crisis with their reaction to the Surfside building collapse.

Um, when you look at the issues, what do you feel are what do you see as the most important areas where voters can get some action?

You said that they should call their state representatives.

Like, what are some of the things that they could do?

A lot of this has already been like they've already made these calls, right?

They've already they've already made a lot of these efforts and a lot of, um, a lot of, uh, legislator legislators were asking for a special session, I believe it was in 2024, uh, to, to address this issue.

But the governor didn't do it.

Um, and then what we saw was in January, we had two legislative sessions on immigration, and we saw how that became a priority of this administration.

Uh, the DeSantis administration and not fixing this condo crisis.

So I can't speak to what their calculus in doing that was.

But I can just say that it happened.

Daryl, the the developer, two roads, the developer in this Miami case has said that they will take this to the Florida Supreme Court.

They feel that this is a case that has statewide implications.

Then you have on the other side folks who are saying, no, we should, you know, look at this and interpret it as narrowly focused on what the developer did in terms of the governing documents.

Which side has the best chance of standing up in court?

Well, we'll see, as they say.

And it's very difficult to predict.

But what you have here is pretty much a crisis situation.

You have something that has not really happened before in Florida's political history.

You have the collapse of a major condo.

How do you respond to that?

We don't know because we haven't done it before.

So you're starting from the ground up, so to speak, uh, putting in the the ground rules, because you have to deal with a lot of issues.

You've got now new standards for building new condominiums that are going into effect because of that collapse.

You've got skyrocketing insurance rates because of the collapse.

And it's much more expensive for condo owners to get insurance.

And you've got millions of dollars in repairs because part of the new laws have gone into effect is you must have these inspections on a periodic basis, depending on the age of your condominium.

And if there are problems, you need to put in money to make those repairs.

And those repairs have to be fixed within a reasonable time period, whatever that means.

So there are a lot of unknowns here.

But all of this adds up to is condo living really worth it?

And that's, you know, a decision that only individual condo owners can make.

And this is how the market is responding now.

You're seeing a lot of people sort of in a panic situation where they're saying.

Because this does affect so many people across the board, whether you are retired on a fixed income or you are someone, a young family who is trying to get into a neighborhood but cannot afford the rising home prices.

It just seems like this is an issue that our legislators should get involved in, because it affects so many millions of our residents in the state of Florida.

Well, I think they will, and I think it's one of those things where, once again, it's a new situation.

So they'll respond to it, but it's going to be phased in in terms of how those changes are going to come into effect, because they want to see sort of the the modest proposals that they're putting into effect at the beginning, how they're going to work, is that going to handle the situation, or do we need to go to a much more drastic approach in terms of what we require condo owners to do, so that they're not going to be burned further down the line?

And a lot of people love condo living.

They love what it brings to them.

But but they are reevaluating to say, is this really worth it?

Do I want to bear now the new cost that we're seeing to to to live in a condo situation?

And that's the development that everyone is facing that either lives in a condo or wants to live in a condo.

It is certainly something that we will continue to follow on Florida This Week, because it affects so many of our viewers in the area.

The other part of the real estate story, the huge real estate story, is that home prices are falling throughout the state of Florida.

Getting into a house isn't getting any easier, though.

High mortgage rates.

You have scarce affordable rentals, and soaring insurance costs are keeping many would be buyers firmly, firmly on the sidelines.

Housing on Florida's west coast is more complicated than just high prices or steep mortgage rates.

The typical Tampa Bay home sold for about $362,000 in June, nearly 6% lower than the same time last year.

And statewide inventory is up by about 24%.

Despite falling prices, buyers still can't afford to get in.

Renters are seeing little relief as well.

Over the past decade, Florida lost nearly 60% of rental units priced under $1,000 a month.

New construction data shows a focus on high end luxury apartments, leaving fewer affordable options, and insurance adds another layer of expense.

Florida's property insurance market just posted its best year since 2015.

This is a report just out from Florida's Office of Insurance Regulation.

For the first time in a decade, insurers collected more in premiums than they paid in claims.

This despite three hurricanes Debbie, Helene and Milton.

State lawmakers credit reforms made in 2022 for bringing more companies into the market.

But premiums remain among the highest in the nation.

In Tampa Bay, home insurance accounted for nearly 15% of a typical mortgage payment, according to last year's mortgage monitoring data, and rates are expected to go up 9% by the end of this year.

Insurance companies pinned blame on hurricane risks and costly reinsurance, also known as insurance for insurance companies.

Complaints from policyholders also at all time highs.

So the inventory is up, but the affordability is down.

What is the disconnect?

Yacob, I'd like to start with you as coauthor of Axios.

You've talked you've reported on this, written about this extensively.

What is the disconnect?

What is fueling that?

Right, so I mean, there was this great migration that happened during the pandemic and home prices spiked at that time.

Um, and what we've seen is because of all these kind of different, you know, what we call hidden costs to homeownership, uh, and, you know, all these, uh, these news of hurricanes and things of that nature have led less people to to move here.

Um, and then, you know, with remote work being phased out, less people are able to move here.

And so what we've seen is the prices have fallen, but some people bought during the pandemic.

And so now they're at risk at selling at a loss.

And I think, you know, we we reported on this one study that found that there were $24,000 of hidden home ownership costs.

Um, and that can be from maintenance from aging properties, uh, electricity bills, uh, which like electricity rates in Florida, uh, are up 10% from this time last year.

So there's a bunch of these different kind of hidden costs of home ownership that's happening.

I think what's really interesting, though is Hillsborough County, right, one of the most populous counties in, um, in the Tampa Bay region, um, they've recently ended their affordable housing trust fund, uh, which was responsible for building some affordable housing units in, uh, in Hillsborough.

And so I think that that's kind of interesting because it's kind of a pivot away from this issue that many find to be very pertinent right now.

How are the issue of investors and second home buyers, um, factoring in this, right.

The Tampa Bay Times has reported on, on these investors who have been buying up the Bay.

I think that's actually the name of the series, and we've kind of seen that happening a lot.

And also, I think that like, what's really preventing some people from entering in the market is these kind of inequities that are are prevalent right now in terms of income and all these kinds of different things that are serving as barriers into homeownership.

And what we've seen is more luxury renters.

We've also seen wealthier renters, people who are foregoing homeownership because of all these costs and are choosing to rent.

But that's also meaning that rents are going to go higher because these people can't afford to pay them.

Darryl, how much of this is impacted by policy versus factors in the market like mortgage rates, supply and demand, maybe the type of homes that are being built?

Well, I think a lot of it is affected by the long term situation that you have to look at in housing.

You're talking about housing costs themselves.

They're down about 6% over the past year.

In the Tampa Bay area, the average price of a home in the Tampa Bay area is about $362,000.

However, when you look at the value of a house, so to speak, as an investment, as many people do look at their house as their biggest investment that they ever make in their life.

Housing values are up and the Tampa Bay area 52% over pre pre pandemic prices.

So there's been a big rise there in the value of a house.

So if you just look at it in the past year you can say well the my house has gone down $6,000 I've got to sell.

You know, that's a that's a stupid move just like it is with stocks.

If the stocks go down sometimes.

Yeah, you've got to think long term.

And overall housing has been a very good investment.

And it still is a very good investment.

So I think all individuals are going to have to judge their decision on housing as a long term decision.

And what's the best thing for me to do.

School quality is something that you've covered as you're the education reporter.

How does that impact when families are coming into a neighborhood and picking out where they're going to invest their dollars?

Yeah, that's a fascinating question, especially with school choice kind of becoming a bigger issue.

And I think kind of determining where you live and where you can go is a huge question.

That's like people are thinking about.

Yeah, Wendy, more and more people are moving further away.

Um, is how do you see this playing out?

Is it more difficult for, um, young, young professionals seem to be the ones that are really being squeezed as they try to purchase that first home.

They're trying very hard to purchase, but sometimes they have to get further and further away from our town centers to be able to afford what they can at this time.

And schools always come into play when you get a family that relocates here and doesn't know anything about the area.

They've typically done their research before they get to town.

They know where they want to be and, and they have to see if that house fits within their budget.

So speaking of schools, you all are helping us pivot to the third segment, which is about education.

Florida students are back in class this week.

Parents very happy to drop off the kids at school for a new academic school year.

There are new rules, and there's a controversy on more book bans that are stirring debate among parents and educators.

Take a look.

No more cell phones at school.

That's the message for Florida's K through eight students.

Supporters of the new law claim it will reduce distractions, but some parents say that cell phones are a matter of safety.

I grew up in a time where we didn't have cell phones.

Um, so I I'm I'm agree with that because of the distraction it creates.

But it's also a scary time in the school system.

And, you know, you have as a parent, you have that peace of mind knowing that you can communicate with your kid at any time.

I understand, you know, with them being on the social media while they're in school and that distraction, but just mostly just a safety concern.

Back to school controversies aren't just about cell phones.

Book bans are back, with Hillsborough County in the spotlight.

The district removed from school shelves the memoir of a transgender YouTuber.

The action was taken after pressure on social media from state officials.

Florida's new education commissioner gave a hard line warning to Superintendent Van Ayers over the book, titled Transmission My Quest To A Beard.

Ayers said the memoir was added to a school library before his tenure.

He also plans to recommend removing the books, blankets and identical during the September 9th school board meeting.

Divya, I'd like to start with you.

You covered for the Tampa Bay Times, the back and forth on social media between the education commissioner and the superintendent.

What was that?

The tone of that?

Yeah, I think it was really interesting to kind of see how this all sort of escalated with this new education commissioner, kind of tweeted that image of this book on display at a Hillsboro school and kind of tagging the Hillsboro superintendent in it, kind of saying that he expects something to be done and then other high profile individuals getting involved.

I think, um, Leila Collins, who was the wife of Lieutenant Governor Jay Collins.

We had the attorney general also.

Yes, and I think she was recently appointed to the state board, and she kind of tagged then local school board members and the school board chair, um, and the attorney general, um, another uh, state board member all kind of got involved on this conversation on, uh, X and I think the superintendent has said repeatedly that they had conversations offline and that in general, he characterizes their relationship as a good one.

But this is a very public facet of it.

As the education reporter, this must have been a different kind of An experience for you because typically you're looking at meetings, at phone calls and emails, not at posts on social media platforms.

Right, and I think it kind of raises some questions about, um, you know, the processes in place and what that means for books.

And, um, if you know somebody, um, at that level, just tweets about a book, um, can it just disappear?

Um.

It's it's certainly having starting quite a few conversations.

Yacob, I'd like to ask you about the cell phone ban.

That's really a big conversation around the water cooler, so to speak.

Um, do you find that parents are predominantly in favor of the ban or not?

I'd say so.

And I think that when you're looking at, I mean.

They are in favor or they're not.

That they are in favor.

I think there's been, you know, many conversations, right, throughout the years about screen time and about limiting that, especially among different ages and whatnot.

And, you know, it's it's funny because uh Axios, right, with its bullet points and two minute articles, we were founded on the principle that in eye tracking studies, they found that one person stays on a particular piece of content for only 26 seconds before moving on to the next one.

So I bring this up because what does that do to one's attention span?

Right.

And as a graduate student as well as a full time writer, I, you know, sometimes just to read a book, sometimes I'm already like before knowing it, I'm on Instagram.

So I think they're wondering what this is going to do to these younger minds as they're being shaped with all this fundamental knowledge at this point.

Um, and in terms of like concerns for safety, there are things like AirTags that parents also use to keep track of where their students are, where their children are.

So I think that's kind of answers to an extent, some of the safety concerns.

Right.

But obviously there's wanting to communicate with them and things of that nature.

And um, so I can recognize that as well.

Daryl, what does this say about the state's involvement in curriculum?

Well, it's always a messy issue.

It's pretty much what you can say because one size doesn't fit all.

I mean, you look at this in the phone bin, there isn't one size for all of the students in the public education system.

They've got a different set of rules for elementary and middle school students, as opposed to high school students.

That I think is a good idea because you're dealing with different kids at different age in the educational process.

So I think they were smart to do that.

And I think the parents like the way those laws are written.

Plus, even for all students, there are exceptions.

You know, any any child with a medical condition, for example, is going to have the ability to contact their parent or get access to to medical assistance if they should need it.

So those are good kinds of things.

I think parents like that parents favor that kind of policy.

So talk to your school.

Make sure you're getting your child is getting what they.

Know, what the policy is for your child today, and find out what it is and respond accordingly.

So in the time that we have left, we always like to ask each of you what the big stories of the week are that you're following.

Jacob, I'd like to start with you.

Um, so I'm following, uh, this recent, uh, reclassification of seven zero, which is a, a byproduct found in some kratom products that has been classified as a, as a controlled substance in Florida.

And thus, like the sale and possession of it, uh, are now illegal.

Wendy.

I have to say, the benchmark international arena announcement that I saw yesterday is, is definitely taking over the week.

No.

And no more Ice Palace, which I still call it Ice Palace sometimes.

So I saw a post of a friend yesterday who said, I think we need to get ahead of this.

Baia is also the name for about 6 or 7 different airports, right?

And so you might get a little confusion there.

So she at the end of her post, she said just govern yourself accordingly.

I thought that was wise.

Darrell, what would you say is the big story this week?

Well, I picked a guy named Jay Collins and many people out in the audience would probably say, Who's Jay Collins?

Well, he's an important person in Florida now.

He's the new lieutenant governor for the state of Florida.

And he took over for Jeanette Nunez.

Nunez, who has been out of office now for about 5 or 6 months.

She's now president of Florida International University.

If you want to be a university president, you either get in the legislature or get in politics in some fashion, because that apparently is the preeminent qualification for university presidency.

But that's another thing.

But here's here's the position which really has no defined duties.

And yet this individual gets $135,000 a year to my kind of job.

I'm going to campaign for lieutenant governor.

Divya, wrap us up.

What would you say is the big story for this week that you're covering?

A couple of things on the university front.

One that I'm not covering, but interesting.

I think the University of Florida announced it's going to be using facial recognition technology at the swamp.

But a couple of things both UCF and USF are still looking for their next president.

I think by the end of the month, we'll kind of hear who the interim president at UF will be.

Which should be interesting following their last search.

Yeah, and USF, a lot of folks are just watching that.

That has such a big economic impact to the region.

Um, no one's on the short list that you know of.

No one you can tell us about.

Not that I know of.

[laughter] All right.

Well, thank you so much to all of you for adding to this conversation.

Really amazing perspective.

That's it for us.

Thanks to our panel members.

This week we have Wendy Ross, Darrell Paulson, Jacob Reyes, and Divya Kumar.

A final programing note it's qualifying week for candidates vying for the district five seat on the Tampa City Council.

It includes strategic areas of Tampa Bay like downtown Tampa and Ybor City.

Local government decisions there can have a regional impact, and that's why we're devoting time and resources to bring you interviews with the candidates.

Qualifying for the September 9th Special Election, so stay tuned for those candidate videos.

They'll be coming up in the next few weeks.

Again before that September 9th Special Election.

That's it for us.

On behalf of the entire team here at WEDU.

Thanks for watching and have a great weekend.

♪♪