Stress Test: Can South Florida Withstand Coming Wave Of Condo Foreclosures?

A Florida legislator predicted that a wave of condo foreclosures will begin hitting Florida in March 2025. We ran the numbers to better understand South Florida’s distressed condo market.

Florida State Rep. Mike Caruso (R-Delray Beach) is predicting a wave of condo foreclosures to hit the state beginning in March. (Image courtesy of the Miami Herald.)

Can South Florida’s condo market withstand the stress of a wave of foreclosures that is expected to hit the sunshine state in about 30 days?

It is anyone’s guess but what is clear is that buyers, sellers and lenders will be monitoring South Florida’s distressed condo market in the months ahead following a warning issued this week by a Florida legislator who predicted a rapid increase in foreclosures throughout the state.

Following Monday’s Florida Legislature Special Session that reportedly lasted all of 10 minutes and provided no relief to cash-strapped unit owners, Florida State Rep. Mike Caruso (R-Delray Beach) predicted that the sunshine state could experience a surge in foreclosure filings beginning in March 2025.

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The views and opinions expressed in this report are for general informational purposes only. It is believed to be accurate and complete based on current market trends but cannot be guaranteed or warranted as circumstances change without notice. It should not be considered as financial, legal, tax or investment advice. This content should not be relied upon as the sole basis for making any financial decisions. Before making any investment or financial decisions, you should consult with a qualified professional to determine the suitability of any investment or strategy for your individual circumstances and goals.

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