Why No One is Buying Condos in 2026

Should you buy a condo in 2026? Danny doesn't think so, and explains why. In this video, Danny Brown, CEO of Myriad Real Estate Group, explains why the condo and townhome market is shifting from bad to worse in 2026. The turning point for the industry traces back to the tragic Surfside condo collapse in Florida in 2021. That disaster exposed the dangers of mismanaged HOAs and neglected maintenance, leading to massive shifts in how homes are financed today. Now, federal mandates from Fannie Mae and Freddie Mac are fundamentally changing who can buy these properties—and at what cost. 00:00 – Why You Need to Pause Before Buying a Condo 00:40 – The Rental Reality: Luxury Apartments vs. Condo Ownership 01:21 – Why Condo Values Are Dropping Every Month 01:47 – Looking Back: The Impact of the 2021 Surfside Collapse 02:43 – HOA Financials and the Importance of Reserves 03:44 – New August 2026 Mandates: The Deep Dive Into Financials 04:35 – Special Assessments: When "Affordable" Becomes Unaffordable 05:08 – The 2027 Shift: From 10% to 15% Reserve Requirements 06:00 – The Fannie/Freddie "Blacklist" Explained 06:22 – Supply vs. Demand: Why the Condo Buyer Pool is Shrinking 07:08 – Why Selling a Condo Right Now is "Impossible" 07:58 – Seeking Market Balance: Long-Term vs. Short-Term Horizons 08:48 – Strategy for Buyers: Single-Family Homes vs. Waiting 09:44 – Due Diligence: How to Review HOA Meeting Minutes and Financials 11:02 – Final Recommendation: Is it Time to Pivot? In this video, we break down: The Surfside Legacy: How the 2021 disaster led to the new federal lending mandates for condo and townhome communities. The 10% (and 15%) Reserve Rule: Why lenders now require a deep dive into HOA financials to ensure they have enough savings—and how this changes in August 2026 and again in 2027. Non-Warrantable Communities: Why many projects are being "blacklisted" by lenders, making them cash-only and cutting out 95% of potential buyers. The Rental Trap: Why it’s currently cheaper to rent a luxury apartment than to take on the risks and fees of a condo mortgage. Hidden Costs: The reality of special assessments (some as high as $15k+) and how they can suddenly make an "affordable" home unaffordable. Who Should Buy? Who the "Lock and Leave" lifestyle actually makes sense for versus who should stay away. Buyer & Seller Tactics: How to check the "blacklist" before you go under contract and why getting HOA meeting minutes early is critical. Considering a condo or townhome in Phoenix? Don't get blindsided by a community that can't be financed. Reach out to the Myriad Real Estate Group team for a second set of eyes on those HOA financials before you sign. Daniel Brown is the Founder, CEO, & REALTOR® at Myriad at My Home Group. Located in Central Phoenix, Myriad serves clients throughout the Phoenix metropolitan area. Website: http://www.MyriadAZ.com/ Facebook:   / myriadrealestate   Daniel's Instagram:   / dannybrownaz   Myriad's Instagram:   / myriadaz_