What a hoot! Impossible as it seems, there are still homeowners who believe that bit of nonsense. When you buy a home in an HOA or Condo Association, you’re essentially pooling your net worth and life savings with a bunch of strangers, people you wouldn’t dream of inviting to lunch. Just go to any annual meeting of any HOA and listen to the yelling, the sarcasm, the accusations.
People in the Orlando, Florida area are talking about a neighborhood of elderly folks whose HOA went bankrupt in the housing bubble. An investor bought all 16 homes in the neighborhood. And now he’s jacked monthly dues up from 180 to 500 dollars. Obviously, these seniors are living on little more than Social Security. But if they don’t ante up with the monthly dues, well the investor just forecloses. There’s a killing being made in Florida, and Pennsylvania, and Northern Virginia, and Harris County, Texas, and Nevada, and California.
Yes, folks, you are looking at the future of HOA Amerika, where traditional Constitutional government has made a passive transfer to fascism and tyranny.
But my HOA protects my investment, doesn’t it?
If you say so.