Wrong Transparency

I've noticed that in my age, when I create a nicely transparent water texture, I can't see bottom part of objects submerged in water. Instead, I see the objects that are inside the object submerged.

As you can see, the ladder inside my building it visible through the water, but not the side of the building as it should be. Anyone know what's causing this?

As you can see, the ladder inside my building it visible through the water, but not the side of the building as it should be. Anyone know what's causing this?