Aging condos called time bombs

In a warning that reflects the dynamics at the doomed Surfside high-rise, Bloomberg quotes a 2020 report called "Breaking Point," from the Foundation for Community Association Research:

"[A]ssociation homeowners and boards often are focused on keeping regular assessments low and only investing in visible, immediate outcomes."

Professor Evan McKenzie of the University of Illinois Chicago School of Law, a specialist in urban politics, told Bloomberg that aging condos are a "ticking time bomb."