Latest news with #instability
Fox News
2 days ago
- Politics
- Fox News
Gen. Jack Keane lays out two of Vladimir Putin's key plans that fell short
Fox News senior strategic analyst Gen. Jack Keane on President Donald Trump's growing frustrations with Russian President Vladimir Putin, news of starvation in Gaza and other instability around the globe.
Daily Mail
3 days ago
- Business
- Daily Mail
Prediction about Florida's condo crisis
Experts have issued a chilling warning about the future of Florida's condo market as insiders warn that the next three months could bring even more instability. Florida's condo market is facing a full-blown crisis, Miami real estate insiders have told Daily Mail. In an exclusive interview, Joe Brikman, Team Leader at The Modern Day Team, and Luxury Development Specialist Rebecca Fischer explained the reality facing both buyers and sellers in what they describe as a 'cautiously optimistic' but quickly changing market. The top realtors are predicting major instability in the next three months as buyers are urged to avoid rushing into bad deals. 'The biggest piece of advice I'd give is: don't rush,' said Brikman. 'The deals are out there, but you need to do your homework.' 'Make sure you're working with an agent who understands what to look for especially when it comes to building financials, reserves, and upcoming assessments,' he said. 'It's not just about the unit, it's about the health of the entire building.' The duo outlined five crucial factors every potential Miami condo buyer must consider, starting with building reserves which are more critical than ever before, especially after the devastating 2021 collapse of condo building Champlain Towers South in Surfside (pictured: Champlain Towers before it collapsed). These are the crucial factors Miami condo buyers should watch out for right now: 1. Building reserves Make sure the building has strong reserves in place. It's more crucial than ever under new state laws. 2. Assessments Ask if there are any current or upcoming special assessments. These can cost owners thousands and often come as a surprise after closing. 3. Inspection and recertification Confirm that the building has passed its required 40-year (or 30-year in some counties) safety inspection. 4. HOA fees 5. Insurance costs Premiums across Florida are skyrocketing. Buyers should factor rising insurance rates into their long-term budgeting Looking ahead, the experts predict a continuously emerging market over the next six months with a major clash between old and new buildings. He said savvy buyers, who have done their research, will come out on top. 'Over the next 3 months, I think we'll keep seeing price adjustments , especially in older buildings that haven't addressed reserve requirements,' Brikman said. 'In six months, the buyers who've done their research and bought smart will be sitting in a great position,' he predicted. 'I think newer buildings and those with clean financials will stay strong, while others may continue to struggle.' Still, the market disruption has created some jaw-dropping opportunities. The Modern Day Team currently has a $350,000 four-bedroom penthouse in North Miami Beach, a $750,000 two-bedroom penthouse in Brickell, and a two-bedroom waterfront apartment in Miami Beach hitting the market soon. There are still areas with opportunity for buyers. Edgewater, parts of Downtown, Brickell, and North Miami Beach are emerging as value hotspots, particularly for new construction buildings. 'On the Resale We're seeing sellers get more flexible some are offering to cover closing costs, buy down interest rates, or even cover a few months of HOA fees,' he revealed. 'Cash buyers especially have more room to negotiate.' When asked to sum up this year's market in two words, the response was telling: 'Cautiously optimistic'. 'Buyers are still active, but they're more careful and they should be,' Fischer noted. 'It's a different kind of market than it was a year ago.' The 2021 collapse of a condo building in Surfside led to a new law that requires condo buildings to undergo structural inspections and shore up reserves. This has meant that many HOAs have been hiking fees and doling out hefty special assessments to comply with the new rules, which has reduced demand for condos. The Surfside condo collapse saw 98 die in the tragedy. There are now new plans for a $15 million-per-unit apartment block on the site dubbed The Delmore. The ultra-luxury high-rise is being constructed by Dubai-based developer Damac Properties after it purchased the land for $120million less than one year after the collapse on June 24, 2021.
Daily Mail
4 days ago
- Business
- Daily Mail
Chilling prediction about Florida's condo crisis - the 5 crucial factors for the next 3 months
Experts have issued a chilling warning about the future of Florida 's condo market as insiders warn that the next three months could bring even more instability. Florida's condo market is facing a full-blown crisis, Miami real estate insiders have told Daily Mail. In an exclusive interview, Joe Brikman, Team Leader at The Modern Day Team, and Luxury Development Specialist Rebecca Fischer explained the reality facing both buyers and sellers in what they describe as a 'cautiously optimistic' but quickly changing market. The top realtors are predicting major instability in the next three months as buyers are urged to avoid rushing into bad deals. 'The biggest piece of advice I'd give is: don't rush,' said Brikman. 'The deals are out there, but you need to do your homework.' 'Make sure you're working with an agent who understands what to look for especially when it comes to building financials, reserves, and upcoming assessments,' he said. 'It's not just about the unit, it's about the health of the entire building.' The duo outlined five crucial factors every potential Miami condo buyer must consider, starting with building reserves which are more critical than ever before, especially after the devastating 2021 collapse of condo building Champlain Towers South in Surfside. Looking ahead, the experts predict a continuously emerging market over the next six months with a major clash between old and new buildings. File picture of Collins Avenue, Caribbean South Beach Condominium These are the crucial factors Miami condo buyers should watch out for right now: 1. Building reserves Make sure the building has strong reserves in place. It's more crucial than ever under new state laws. 2. Assessments Ask if there are any current or upcoming special assessments. These can cost owners thousands and often come as a surprise after closing. 3. Inspection and recertification Confirm that the building has passed its required 40-year (or 30-year in some counties) safety inspection. 4. HOA fees Take a close look at monthly HOA fees and what they include. Many buildings have raised dues significantly to meet legal requirements. 5. Insurance costs Premiums across Florida are skyrocketing. Buyers should factor rising insurance rates into their long-term budgeting The 2021 collapse of a condo building in Surfside led to a new law that requires condo buildings to undergo structural inspections and shore up reserves Looking ahead, the experts predict a continuously emerging market over the next six months with a major clash between old and new buildings. He said savvy buyers, who have done their research, will come out on top. 'Over the next 3 months, I think we'll keep seeing price adjustments, especially in older buildings that haven't addressed reserve requirements,' Brikman said. 'In six months, the buyers who've done their research and bought smart will be sitting in a great position,' he predicted. 'I think newer buildings and those with clean financials will stay strong, while others may continue to struggle.' Still, the market disruption has created some jaw-dropping opportunities. The Modern Day Team currently has a $350,000 four-bedroom penthouse in North Miami Beach, a $750,000 two-bedroom penthouse in Brickell, and a two-bedroom waterfront apartment in Miami Beach hitting the market soon. There are still areas with opportunity for buyers. Edgewater, parts of Downtown, Brickell, and North Miami Beach are emerging as value hotspots, particularly for new construction buildings. 'On the Resale We're seeing sellers get more flexible some are offering to cover closing costs, buy down interest rates, or even cover a few months of HOA fees,' he revealed. 'Cash buyers especially have more room to negotiate.' When asked to sum up this year's market in two words, the response was telling: 'Cautiously optimistic'. 'Buyers are still active, but they're more careful and they should be,' Fischer noted. 'It's a different kind of market than it was a year ago.' The 2021 collapse of a condo building in Surfside led to a new law that requires condo buildings to undergo structural inspections and shore up reserves. This has meant that many HOAs have been hiking fees and doling out hefty special assessments to comply with the new rules, which has reduced demand for condos. The Surfside condo collapse saw 98 die in the tragedy. There are now new plans for a $15million-per-unit apartment block on the site dubbed The Delmore. The ultra-luxury high-rise is being constructed by Dubai-based developer Damac Properties after it purchased the land for $120million less than one year after the collapse on June 24, 2021.
Arab News
6 days ago
- Politics
- Arab News
Lost cause? Let the people of Lebanon have their say
There is a strange situation in Lebanon. For decades, politicians and their staff have been permanently present on the media scene — commenting, contesting, making their clan's voice heard, and, in short, occupying space. This was true whether in opposition or government. Today, there is a period of quasi-silence. This silence indicates a loss of direction and an inability to read what is coming next regionally. There is another serious and pressing element that is changing the equation: the erosion of security and the impact of the difficult situation in the Syrian Arab Republic. While the new leadership in Syria faces a lot of challenges and risks, the one that presents the biggest danger for Lebanon is not the military clashes between communities, but the lack of order and security, a threat that can easily spread. Syria's security forces are unprepared to fight crime due to corruption, fragmented control, and, as stated, much bigger issues than public safety. This situation creates great instability for Lebanon, as organized crime does not stay within borders. As the new president, Joseph Aoun, came to power, most Lebanese — some politicians included — hoped he would deliver on his promises to restore sovereignty to the country. Many imagined that a negotiated outcome with Hezbollah was possible and that soon Lebanon would be back to its short-lived 'Switzerland of the Middle East' model. Close to seven months later, the optimists — not to call them naive — agree with the cynics of the first hour that this is just quixotic. There was never going to be, and never will be, a negotiated outcome with Hezbollah. We nevertheless need to put things back into perspective. Aoun came to power after Israel defeated Hezbollah using strikes that brought the Iranian proxy to a level of vulnerability never witnessed before. This extreme weakness, and the shell-shocked status of Hezbollah with the change of regime in Syria, made people believe that this was the perfect time. Is it a lost opportunity, just like what happened in the 2000s, not taking the bold step needed and losing the window to make a real change? No one knows. Perhaps, despite years of US support and financing, the Lebanese armed forces still do not represent the stick that can challenge Hezbollah. Or perhaps the answer is simply closer than people think. There is no doubt that even if negotiated, projecting strength would be a necessity. This does not exist today. Organized crime does not stay within borders Khaled Abou Zahr There is also within Lebanon an echo of what we see in Western capitals. We cannot ignore the protest posters in New York showing an image of Iran's Supreme Leader Ali Khamenei with a slogan telling people to be on the right side of history. Yet, there are, even in Lebanon, people who are puzzled about what comes next. This is why it is time to leave the decision to the people in Lebanon. The electoral system for years has been carved out by politicians to accommodate their deals. They have been, in a sense, accomplices of Hezbollah. It is time to ask the people what they want. It is time to put forward two questions to the people of Lebanon. The first is: Do you back the sovereignty of the country? And the second question: Do you prefer a centralized political system or a federation? There also should be a two-level count — one for the entire nation and one for each community. It is now important to see what each community needs and wants for the future. There is no doubt that, for example, today the Sunni community — to which I belong — expects the change of regime in Syria from a pro-Iran to a Sunni one that is representative of the majority of the Syrian population to work to their advantage in the long term. In my opinion, Lebanon's specificity will clash with the uniformity of the Syrian model. This was true yesterday and will still be true tomorrow. The main objective should be to initiate a dialogue Khaled Abou Zahr Yet, it is this entrenched thinking that needs to be destroyed. This historical clan setup has partially been responsible for the ills of the country. Whether Hezbollah or the groups before it, it is the same cycle. I would like to see this setup and political system obliterated. I believe that federalism will bring stability to Lebanon. Yet, perhaps I am a tiny minority within the country or my community. This is why reverting to the people is important. It is also important to have a view of what each community needs and wants. This should be stated by the people and not the clan leaders who have perpetuated the cycles generation after generation. If we believe in the sovereignty and independence of Lebanon, we cannot be influenced by how the geopolitical shifts affect our community in the balance of power. It is contradictory. We need a system that gives each citizen within each community the capacity to lead a stable life. What would be the outcome of such referendums? How to manage fragmented results where a community or a group of communities vote differently? What happens if people vote against the state? Does this mean that all communities can arm themselves again? What if they vote for sovereignty — who will execute the will of the people? There are many unanswered questions. Yet the main objective should be to initiate a dialogue, or perhaps accept that, for now, Lebanon is still a lost cause. Either way, the people will know. And those who wish to be Don Quixote can still carry on.
Irish Times
20-07-2025
- Politics
- Irish Times
Japan grapples with far-right surge and prospect of new leader after general election
Japanese prime minister Shigeru Ishiba is on the political ropes after a humiliating rebuke by voters in a general election on Sunday, which saw a striking rise in the popularity of fringe populist parties. The results suggest that a country largely untouched until now by the far-right populism that has roiled European and American politics may be in for a period of messy instability. Exit polls on Sunday night predict Ishiba's coalition government will lose its Upper House majority, handing them their second major electoral drubbing in less than a year, following the loss of the Lower House last October. Most of the gains in the election went to the right or far right, led by Sanseito, a new party with an anti-immigrant platform that advocated lower taxes and peddled Maga-style grievances about immigrants and globalists. Japan's public service broadcaster NHK on Sunday projected that Sanseito could win 10-22 seats. The Democratic Party For the People, another conservative populist party, is projected to win 17 seats and the far-right Conservative Party of Japan could win two. Komeito, the Liberal Democratic Party's (LDP) Buddhist-backed junior coalition partner, will also lose seats. The centre-left Constitutional Democratic Party of Japan is expected to gain seats. READ MORE If confirmed, Sunday's result would be the first time in 70 years that a government led by Ishiba's LDP has lost control of both branches of the Diet. One of the world's most successful political machines, the LDP has held power for all but a handful of years since 1955. During the campaign, the Japanese media reported that LDP candidates around the country were refusing to campaign with Ishiba, suggesting he had become a toxic figure. [ As an Irishman living in Japan, I watch the rise of anti-immigrant rhetoric with unease Opens in new window ] Ishiba's popularity swooned after a scandal involving the payment of gifts to rookie lawmakers in March. Record food prices and declining wages have also been an emotive electoral issue. The price of rice, a national staple, almost doubled in June year-on-year. In May, the agriculture minister was forced to quit after he infuriated voters by saying he 'never had to buy rice' because his supporters gave it to him as a gift. Sanseito advocated tougher restrictions on foreigners and other right-leaning causes, including changes to school education to make Japanese people 'proud of their country's history and culture'. Several Sanseito candidates said Japan should build a nuclear bomb. Although he softened his tone during the campaign, Sanseito party leader Sohei Kamiya has been a high-profile anti-vaxxer and has blamed 'international financial capital affiliated with Jews' for the exaggerated fears of the coronavirus pandemic. Among the party's prescriptions was that young men should be conscripted to work on farms. Inflation helped drive voters away from the LDP. Many are also frustrated by the threat of new US tariffs of 25 per cent, due to take effect on August 1st. Trade envoy Ryosei Akazawa was dispatched to Washington seven times in a fruitless bid to avoid the tariffs, giving the impression, said one lawmaker, that Japan was being 'mugged' by US president Donald Trump, who wants to cut a $70 billion trade deficit with Japan. [ Donald Trump's nonsensical economics Opens in new window ] The election was prefaced by a sell-off of Japanese government bonds amid concerns that the government was floundering. Bond yields were pushed last week to their highest levels since 2008. Ishiba is now likely to come under pressure to adopt some of the populist measures of its rivals. As the results came in on Sunday night, Yoichi Masuzoe, former governor of Tokyo, said that the rise of Sanseito 'feels strikingly similar to the situation after the 1929 Great Depression when the Nazis expanded their influence through elections'.
