Following the Florida condo collapse, the universal cure seems to be to fund the reserves. Making sure there are adequate funds for the necessary repairs is a no-brainer. I had long advocated funding the reserves but have always been surprised when homeowners quickly informed me that I was wrong. Some even claimed they would prefer a special assessment to take care of any problems. That approach never appealed to me. However, it is important to hear all the concerns.
Bill Davis joins us today. Bill, a Texas attorney and a frequent guest on On The Commons, sees the big picture and can explain what we are missing. While making sure we fund the reserves, that is only part of the solution. Please tune and take a look at the big picture. It is not always quite as simple as it sounds. Be sure to tune in.