Another Gold High? Here's the Move Wall Street Is Missing ...

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

A South Florida luxury condo project is planned for site where building collapse killed 98 people

PHILIP MARCELO
January 29, 2025

SURFSIDE, Fla. (AP) -- A Dubai-based developer plans to build a 12-story luxury condominium project on the South Florida site where a building collapsed in 2021, killing 98 people.

DAMAC International said Tuesday that it planned to build The Delmore on the site where the Champlain Towers South partially collapsed in Surfside, Florida, outside Miami in June 2021. Construction has already started and the project is expected to be finished in 2029, the company said in a news release.

The building with staggered floors designed by Zaha Hadid Architects will have 37 "mansions" with units averaging 7,000 square feet. The price of a four-or-five-bedroom unit will start at $15 million, and the project will include a private restaurant, residential butlers, a wellness spa and other resort-style amenities, according to the company.

"We have been focused on delivering an ultra-luxury product to the South Florida market that is unlike anything the area has seen previously," Jeffery Rossely, senior vice president of development for DAMAC International, said in the statement.

The news release makes no mention of the tragedy.

What happened

In June 2021, the 12-story, 136-unit oceanfront condo building came down with a thunderous roar, leaving a giant pile of rubble and claiming 98 lives -- one of the deadliest structure collapses in U.S. history. Only two teenagers and a woman survived the collapse, while others escaped from the portion of the building that initially stood.

A judge in 2023 approved a settlement topping $1 billion for victims of the Champlain Towers South collapse. The money comes from 37 different sources, including insurance companies, engineering firms and a luxury condominium whose recent construction next door is suspected of contributing to structural damage. None of the parties admitted any wrongdoing.

The cause of the collapse remains under investigation by the National Institute of Standards and Technology.

The investigation

National Institute of Standards and Technology investigators told an advisory panel that tests show that some of the steel-reinforced concrete columns at Champlain Towers South were half the strength they should have been and were not up to construction standards in 1980 when the 12-story tower was built. The steel in some columns had become moderately to extremely corroded, weakening them further.

Investigators have also confirmed eyewitness reports that the pool deck fell into the garage four to seven minutes before the beachside tower collapsed.

Champlain Towers South had a long history of maintenance problems, and shoddy construction techniques were used in the early 1980s. Other possible factors include sea level rise caused by climate change and damage caused by saltwater intrusion.

Legislation

After the collapse, Florida Gov. Ron DeSantis signed into law new regulations requiring condo associations for buildings with three or more stories to file an inspection report focused on structure, maintenance and expected costs for repairs or renovations.

The regulations require associations to have sufficient reserves to cover major repairs and to survey reserves every decade. Because of the law, older condos -- found largely in South Florida, according to state records -- face hefty increases to association payments to fund the reserves and repair costs.

Continue Reading...

Popular

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Denny's to be acquired and taken private in a deal valued at $620 million

Denny's said Monday that it's being acquired by a group on investors in a deal that will take the breakfast chain private.

Billie Eilish Asks Zuckerbeg, Other Billionaires To Donate

Billie Eilish urges billionaires to share their wealth for good causes during award acceptance speech. Mark Zuckerberg in attendance.

Trump's Hidden Fed Agenda - Ad

Trump's latest moves show he's preparing to reshape the Federal Reserve - and the value of the U.S. dollar. With key appointees already in place, the coming monetary reset could send gold soaring like it did in the 1970s, when it climbed 24X in under a decade.

IRS Direct File won't be available next year. Here's what that means for taxpayers

WASHINGTON (AP) — IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed.

Buy Now Pay Later Can Torpedo Mortgage Chances

BNPL services like Affirm, Klarna, Afterpay, and PayPal Pay Later are popular but can hurt mortgage approval. Lenders scrutinize bank statements and debt-to-income ratio, and new credit models include BNPL data. Loan officers warn of multiple plans inflating DTI.

The Last Gold Bull Market - Ad

The last great gold bull market of our lifetime has already begun. Global debt is exploding, confidence in the dollar is cracking, and nations everywhere are turning back to gold. The Great Reset is really about gold's return to the monetary system - a moment that will define the next decade... and those positioned early could reap generational wealth.

Elon Musk Tells Joe Rogan: 'Trump Actually Is Not Perfect, but He's Not Evil'

In a Friday appearance on The Joe Rogan Podcast, Elon Musk defended President Donald Trump, stating that while Trump is "not perfect," he is also "not evil."

From Zero to Rio Tinto in Just Two Years - Ad

It's rare to see a small explorer move this fast. In only two years, this company secured a Rio Tinto partnership, four major properties, and is now drilling across N. America for the metals that fuel national defense.

Metals... Not Missles... Is the New Arms Race - Ad

China and Russia control 70% of the world's critical minerals, giving them leverage over the West. One N. American discovery could help shift that balance by developing the metals essential for defense systems.

Wall Street Enters Its Strongest Month: These 7 Stocks Often Crush It

November is historically Wall Street's strongest month. These 7 stocks often delivered standout gains in recent decades.

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir

On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Why Did MediciNova Stock (MNOV) Jump Over 87% In After-Hours Trading?

MediciNova shares soared over 87% in after-hours trading on Thursday following the publication of promising research.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

Is This Nvidia's Next Big Invention? - Ad

Nvidia helped trigger a historic AI boom that minted 600,000 millionaires in America. It's now working on a new tech that could be even bigger than AI. According to Bank of America, "this [technology] could be the biggest revolution for humanity since discovering fire."

Investigators look into 'repeating bell' heard during takeoff of UPS cargo plane that crashed

LOUISVILLE, Ky. (AP) — A repeating bell sounded in the cockpit for 25 seconds as pilots tried to control a UPS cargo plane that caught fire, had an engine fall off and this week in Louisville, Kentucky, a National Transportation Safety Board member said Friday.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable

Robinhood has new prediction markets for its customers, with a focus on the entertainment sector. Here are some of the new markets.

America's Defense Future Starts Underground - Ad

A N. American metals project just caught the attention of Rio Tinto - a mining giant. With four projects in key regions, this firm is aligned with Washington's push to rebuild the defense-metal supply chain.

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

Britain's Treasury chief prepares the ground for a tax-hiking budget

LONDON (AP) — U.K. on Tuesday signaled she will raise taxes in her budget this month, arguing that the economy is sicker than the government knew when it took office last year.

Can Solana Do What Bitcoin Can't? Amplify's New ETF Aims For 36% Income

Amplify ETFs, the issuer known for thematic and income-driven fund products, has just launched the Amplify Solana 3% Monthly Option Income ETF (BATS:SOLM), a first-of-its-kind product combining the growth momentum in Solana (CRYPTO:

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Trump's Hidden Fed Agenda - Ad

Trump's latest moves show he's preparing to reshape the Federal Reserve - and the value of the U.S. dollar. With key appointees already in place, the coming monetary reset could send gold soaring like it did in the 1970s, when it climbed 24X in under a decade.

Trump Barred From Deploying Oregon National Guard To Portland, Judge Cites State Sovereignty

A federal judge handed down a decisive ruling on Friday, blocking Trump's attempt to send Oregon's National Guard to Portland.

Spotify Premium Subscribers Boost Q3 Revenue, Eyes Strong Holiday Quarter

Spotify (NYSE: SPOT) shares rose after reporting better-than-expected Q3 results, with revenue of $4.99B and 17M new MAUs.

The Last Gold Bull Market - Ad

The last great gold bull market of our lifetime has already begun. Global debt is exploding, confidence in the dollar is cracking, and nations everywhere are turning back to gold. The Great Reset is really about gold's return to the monetary system - a moment that will define the next decade... and those positioned early could reap generational wealth.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service