Don’t Sink Your Retirement Dream

By SR07XC3 @ Adobe Stock

Thinking of buying a condo in South Florida? It’s beautiful but do your homework. Don’t end up in a building that’s sinking. The Associated Press reports that in Sunny Isles Beach, FL, three dozen high-rise buildings are sinking. They write:

Almost three dozen high-rise condos and luxury hotels along the beach in South Florida are sinking or settling in unexpected ways, in some cases because of nearby construction, according to a new study.

The 35 buildings surveyed along an almost 12-mile stretch from Miami Beach to Sunny Isles Beach have sunk or settled by 0.8 to 3.1 inches. About half of the buildings are less than a decade old, according to scientists at the University of Miami Rosenstiel School of Marine, Atmospheric, and Earth Science.

“The discovery of the extent of subsidence hotspots along the South Florida coastline was unexpected,” Farzaneh Aziz Zanjani, the lead author, said in a statement. “The study underscores the need for ongoing monitoring and a deeper understanding of the long-term implications for these structures.”

It’s not uncommon for buildings to sink a little soon after construction, but the scientists called their discovery surprising because some of the changes took place several years later.

Limestone under the South Florida beach is interspersed with layers of sand, which can shift under the weight of high-rises and as a result of vibrations from foundation construction. Tidal flows and construction projects as far away as 1,050 feet have contributed to settling, the researchers found. The study used satellite images to capture the changes, with settling most noticeable in buildings in Sunny Isles Beach. The scientists said preliminary data also suggests sinking or settling further north, along the beaches of Broward and Palm Beach counties.

Action Line: It’s never good to read about high-rise buildings sinking. This isn’t boating. Make sure you do your homework before jumping in head first to your retirement dream. Click here to subscribe to my free monthly Survive & Thrive letter.