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Beyond special assessments, condo owners are grappling with overall financial unease in the market. Homeowners' insurance rates have surged due to natural disasters in recent years, exacerbating the financial strain on condo owners. The increasing cost of living in Florida, driven by both HOA fees and insurance, has led many seasonal residents, known colloquially as "snowbirds," to reevaluate their investments in the state. As these owners look to divest their properties to avoid escalating expenses, additional inventory floods the market, fueling further price declines.