Our infrastructure is getting older – there is no doubt about that. Specifically, our 20+ unit condominiums. Roughly 60% of all 20+ unit condominiums were built between the years of 1960 and 1999, meaning even the newest built condominiums in that category are approaching 25 years old. After the tragedy we witnessed in Surfside, Florida in 2021, we've seen cases of communities being evacuated for similar concerns – Renaissance Tower in South Carolina and Port Royale in Florida and right down the street from where Champlain Towers South once stood. The question I have for you is - do you think these two situations are a coincidence or do you think the tragedy of Champlain Towers South has awoken our industry and shed light on a problem that is unfortunately at the center of many communities around the country?
In the next few months, we will ask some very prominent industry experts that same question so stay tuned!