Dryer vent has water in it?

I noticed water leaking to my floor during the drying cycle, so I went to the basement to investigate. I live in an old house that I bought, everything probably isn't up to code. Running from the center of my house all the way to the basement wall is the flixible, coiled, dryer snake hose, and it is weighted... show more I noticed water leaking to my floor during the drying cycle, so I went to the basement to investigate.

I live in an old house that I bought, everything probably isn't up to code. Running from the center of my house all the way to the basement wall is the flixible, coiled, dryer snake hose, and it is weighted down with water.

I'm assuming condensation? I'm also assuming that this hose wasn't meant for this and it should be something more solid? It's about 25-30 feet of the hose.

Should I bother trying to salvage the in-place system? Or should it be something more sturdy, like the round galvanized duct?
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