Trust This. Proposed Section 8 Deletion
00 Trust This. Posts 🎯 Trust This: Targeting Section 8 [...]
Trust This: Builders Facing Tariff Whiplash
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- Trust This.
- Posts
- 🎯 Trust This: Targeting Section 8 for deletion
🎯 Trust This: Targeting Section 8 for deletion
And the Florida legislature votes to dial back the condo reforms created after the Sunset Towers collapse
Joseph Seagle
May 09, 2025
Trust This.
By Joseph E. Seagle, Esq.
👋 Happy Friday! Today is National Lost 🧦 Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.
❗️Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.
1 big thing: 🏛️ Trump Budget Proposal Targets Section 8, Risks Market Ripple
The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.
Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.
SecThe big picture:
Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions — especially in markets where low-income tenants dominate Class C portfolios.
Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.
Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources — and investor portfolios near urban cores and transitional neighborhoods.
Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on “skate parks and concert plazas,” housing advocates counter that these programs are already underfunded — with only 1 in 4 eligible households currently receiving aid.
For whom it’s a signal:
Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.
Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies can’t fill federal shoes.
Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.
Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle — but signals the administration’s broader pivot away from federally backed housing support.
📉 The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.
2. Florida Eases Condo Safety Mandates to Alleviate Financial Strain on Owners
In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the state’s condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.
Why It Matters: The original 2022 legislation required “milestone inspections” and “structural integrity reserve studies” for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes.
Key Revisions in HB 913
Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.
Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.
Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.
Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.
Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.
Voices from the Legislature
“Without moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.” AP
Republican state Sen. Jennifer Bradley of Fleming, a sponsor of the bill.
“We have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.” AP
Representative Vicki Lopez (R-Miami), dubbed the “condo queen,” highlighting the bill’s significance.
Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Florida’s condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.
This week, I sat down with Sandra Edmond, the Queen of Tax Deeds®, where we discussed not only tax deeds but also the importance of personal branding.
3. Catch up fast
Four charts that show why Florida’s housing market is struggling. HousingWire
Florida’s COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post
Property tax cuts could upend the Florida housing market. Cotality
The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg
Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report
Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)
Economic slowdown chills U.S. housing market. MPA Mag
Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag
Spring’s homebuying season is lackluster so far due to high costs and economic instability. Redfin
The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC
4. Closing Thought: Inspire Vision, Not Just Tasks
The roses in the front yard were bursting out last weekend in Asheville.
Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesn’t start with checklists—it starts with vision. Antoine de Saint-Exupéry said it best: “If you want to build a ship, don’t drum up the men to gather wood… Instead, teach them to yearn for the vast and endless sea.”
The big idea: Whether you’re syndicating an investment deal, launching a new development, or growing a brokerage, your team isn’t motivated by lumber or logistics. They’re moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.
➡️ Paint the bigger picture. Don’t just say, “We need to close on this multifamily by the 30th.” Say, “We’re creating generational wealth and revitalizing neighborhoods.”
➡️ Link tasks to legacy. Help your partners see how their roles—underwriting, raising capital, showing properties—drive real impact.
➡️ Make it emotional. People don’t hustle for spreadsheets. They show up early and stay late when they believe in the destination.
Zoom out: Think about your first big win in real estate. It wasn’t just the cash flow or the equity—it was the feeling of freedom, control, possibility. That’s the “vast and endless sea” your team needs to see.
The bottom line: Great leaders don’t micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets built—because everyone believes in where it’s going.
Fact-based news without bias awaits. Make 1440 your choice today.
Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.
We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.
Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
Be on the lookout for our next issue! 👋
- Trust This.
- Posts
- 🎯 Trust This: Targeting Section 8 for deletion
🎯 Trust This: Targeting Section 8 for deletion
And the Florida legislature votes to dial back the condo reforms created after the Sunset Towers collapse
Joseph Seagle
May 09, 2025
Trust This.
By Joseph E. Seagle, Esq.
👋 Happy Friday! Today is National Lost 🧦 Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.
❗️Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.
1 big thing: 🏛️ Trump Budget Proposal Targets Section 8, Risks Market Ripple
The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.
Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.
SecThe big picture:
Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions — especially in markets where low-income tenants dominate Class C portfolios.
Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.
Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources — and investor portfolios near urban cores and transitional neighborhoods.
Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on “skate parks and concert plazas,” housing advocates counter that these programs are already underfunded — with only 1 in 4 eligible households currently receiving aid.
For whom it’s a signal:
Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.
Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies can’t fill federal shoes.
Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.
Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle — but signals the administration’s broader pivot away from federally backed housing support.
📉 The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.
2. Florida Eases Condo Safety Mandates to Alleviate Financial Strain on Owners
In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the state’s condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.
Why It Matters: The original 2022 legislation required “milestone inspections” and “structural integrity reserve studies” for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes.
Key Revisions in HB 913
Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.
Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.
Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.
Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.
Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.
Voices from the Legislature
“Without moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.” AP
Republican state Sen. Jennifer Bradley of Fleming, a sponsor of the bill.
“We have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.” AP
Representative Vicki Lopez (R-Miami), dubbed the “condo queen,” highlighting the bill’s significance.
Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Florida’s condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.
This week, I sat down with Sandra Edmond, the Queen of Tax Deeds®, where we discussed not only tax deeds but also the importance of personal branding.
3. Catch up fast
Four charts that show why Florida’s housing market is struggling. HousingWire
Florida’s COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post
Property tax cuts could upend the Florida housing market. Cotality
The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg
Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report
Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)
Economic slowdown chills U.S. housing market. MPA Mag
Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag
Spring’s homebuying season is lackluster so far due to high costs and economic instability. Redfin
The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC
4. Closing Thought: Inspire Vision, Not Just Tasks
The roses in the front yard were bursting out last weekend in Asheville.
Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesn’t start with checklists—it starts with vision. Antoine de Saint-Exupéry said it best: “If you want to build a ship, don’t drum up the men to gather wood… Instead, teach them to yearn for the vast and endless sea.”
The big idea: Whether you’re syndicating an investment deal, launching a new development, or growing a brokerage, your team isn’t motivated by lumber or logistics. They’re moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.
➡️ Paint the bigger picture. Don’t just say, “We need to close on this multifamily by the 30th.” Say, “We’re creating generational wealth and revitalizing neighborhoods.”
➡️ Link tasks to legacy. Help your partners see how their roles—underwriting, raising capital, showing properties—drive real impact.
➡️ Make it emotional. People don’t hustle for spreadsheets. They show up early and stay late when they believe in the destination.
Zoom out: Think about your first big win in real estate. It wasn’t just the cash flow or the equity—it was the feeling of freedom, control, possibility. That’s the “vast and endless sea” your team needs to see.
The bottom line: Great leaders don’t micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets built—because everyone believes in where it’s going.
Fact-based news without bias awaits. Make 1440 your choice today.
Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.
We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.
Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
Be on the lookout for our next issue! 👋
Reply
- Trust This.
- Posts
- 👷♂️ Trust This: Builders facing tariff whiplash
👷♂️ Trust This: Builders facing tariff whiplash
and Florida's real estate market is on the brink or at a crossroad, depending on how you look at it.
Joseph Seagle
May 02, 2025
In partnership with
Trust This.
By Joseph E. Seagle, Esq.
👋 Happy Friday! Tomorrow, being the first Saturday in May, is the 🏇🏾 Kentucky Derby. Get ready for those crazy 👒 hats.
❗️Situation Awareness: Our offices will be closed on Memorial Day.
1 big thing: 🏠 Homebuilders Face Tariff Whiplash — and So Do You
📍 The big picture: A volatile U.S. tariff environment is hiking up construction material costs just as the spring housing season sputters, adding new friction to a market already struggling with high mortgage rates and buyer hesitation.
🧱 What’s happening:
A 10% blanket tariff and 145% tariffs on Chinese imports are causing supplier price hikes—averaging 6.3%—for essential building materials like lumber and steel.
Homebuilders estimate these tariffs could increase the average price of a new home by $10,900.
Residential housing starts fell 11.4% in March, while permits dropped 3.1% year-over-year as builders brace for economic uncertainty.
🏗️ Why it matters to you:
Realtors: Expect continued affordability challenges. Entry-level buyers are being priced out, making it tougher to move inventory unless significant incentives are offered.
Mortgage Brokers: Loan volume may dip as buyers get cold feet, delaying mortgage applications or downsizing their purchase ambitions.
Title Agents: Slower construction means fewer transactions down the line. Prepare for a shift toward resale markets and refinances.
💡 Zoom in:
Builders like D.R. Horton are delaying cost pass-throughs until 2026. But smaller builders, with tighter margins, may need to raise prices now or exit markets altogether.
Companies like Hapi Homes are pivoting to 100% domestic supply chains, eating a 5% average cost increase to stabilize long-term pricing.
📊 Between the lines:
Domestic sourcing may offer a hedge, but not a discount. Historically, U.S. suppliers have used tariffs’ market protections to reduce competition as an opportunity to raise prices on domestic goods, too.
Expect home sizes and customization options to shrink as builders tighten efficiency to cater to cost-conscious buyers.
🔮 What’s next: Watch for builder M&A activity as large players acquire land and operations from struggling small- to mid-size firms. Also, keep an eye on supply chain trends—relationships with domestic suppliers are becoming strategic assets.
Go deeper: Orlando Business Journal
2. Florida’s Housing Market at a Crossroads
📉 The Big Picture: Florida’s real estate market, once a beacon of growth, is now showing signs of strain. According to Cotality’s recent report, the state faces challenges like slowing demand, rising insurance costs, and an oversupply of homes, particularly in areas like Winter Haven, Tampa, and West Palm Beach.
📊 By the Numbers
Winter Haven: Median home prices rose from $234,900 in January 2021 to $314,950 in January 2025. However, it’s now considered at “very high risk” for a price decline .
Tampa: Home prices increased from $265,000 in 2021 to $360,000 in early 2025. It’s ranked third nationally for potential price declines .
West Palm Beach: Median prices jumped from $323,000 in 2021 to $485,000 in 2025. It’s fifth on the list of markets at high risk for price drops .
🏘️ What’s Driving the Shift?
Insurance Woes: Florida homeowners face the highest insurance premiums in the U.S., averaging $2,625 annually, 24% above the national average .
Inventory Surge: January 2025 saw a record 172,209 homes for sale in Florida, a 22.7% increase year-over-year, leading to a buyer’s market .
Migration Patterns: While Florida attracted 1.8 million new residents since 2020, the pace has slowed, with many now relocating to neighboring states like Georgia and North Carolina .
🧭 Implications for Real Estate Professionals
Realtors: Adjust pricing strategies to reflect the current market dynamics. Emphasize properties with competitive insurance rates and highlight value over luxury.
Mortgage Brokers: Prepare clients for potential appraisal challenges. Offer guidance on navigating insurance premiums and property taxes.
Title Insurance Agents: Stay informed about regional risks, especially in high-risk areas, to advise clients accurately and adjust coverage options accordingly.
📌 Bottom Line: Florida’s real estate landscape is evolving. Professionals must stay agile, informed, and proactive to navigate these changes and continue to serve clients effectively.
Go deeper: Cotality (formerly known as CoStar)
3. Catch up fast
Naples estate sells for $255 million to Florida land trust … but did they use the trust to conceal the purchase price? Obviously not. Wall Street Journal (subscription)
Vacant Miami Beach home lot sells for $23 million. They got our location wrong and said we were the land trust buyer when we were actually the seller, but at least they spelled our name right. South Florida Business Journal (gift link)
DOGE aide dismantling CFPB owns stock in companies that could benefit from the cuts. Propublica
East Texas Title Company files suit against FinCEN in an effort to block implementation of the rule requiring disclosure of trust and entity beneficiaries, starting December 1. KETK News
Zillow predicts home prices will slide by almost 2% over the next year. Zillow
U.S. Consumer Confidence fell in April to its lowest level since the pandemic. AP and The Conference Board
U.S. Consumer spending surged in March as inflation continued to cool. Reuters
U.S. Economy shrinks for the first time in three years. Newsweek
U.S. Manufacturing activity has shrunk the most since November. Bloomberg (gift link)
The inventory of homes for sale rose 30.6% year over year in April, as 18% of homes saw a price reduction. It’s a buyer’s market for the first time in a long time. Realtor
4. Closing Thought:
These are the kinds of snowballs I prefer to see when in Asheville.
In real estate and business, mindset isn’t part of the game — it IS the game.
If you want to dominate, not just survive, you need to know the difference between consumers and producers, and why an abundance mindset crushes scarcity thinking every single time.
Consumers vs Producers:
Consumers wait for the perfect opportunity. They chase shiny objects. They hope someone else makes it easy.
Producers?
🔥 They build opportunities.
🔥 They create deals.
🔥 They solve problems.
Producers know that opportunity isn’t found — it’s made.
Scarcity vs Abundance:
Scarcity says: “There’s not enough for me.”
Abundance says: “There’s more than enough if I create value.”
Scarcity hoards and hesitates.
Abundance collaborates, takes action, and wins.
Bottom Line:
Producers with an abundance mindset don’t just close more deals — they create whole new markets.
If you want bigger wins, bigger impact, and bigger income, it starts with thinking bigger.
⚡ Be the producer.
⚡ Live in abundance.
⚡ Make it happen.
You’ve got this — and we’re rooting for you.
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Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
Be on the lookout for our next issue! 👋
Reply
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