School Loans + Home Buying = Lack of Info

guest blog by Nila Ridings

It’s worth repeating that the only way I see changes for the future of HOAs is with the younger generations.

Younger people will listen and participate in discussions about things that could decimate their future. Many of them struggle to find jobs that allow them to live outside their parent’s basement, buy gas and insurance for their car, and still be able to stop at Dunkin’ Donuts for a latte and muffin.

The article and survey below show how the Millennial generation is carrying the burden of school loans that are causing a delay in their interest to buy a home, get married, and have children. It also addresses the fact a high percentage of these loan takers felt they were not given enough information prior to taking out the loans.

These same people will also not be told about the risks of buying a condo, loft, town house, or HOA restricted property if they depend on a Realtor, mortgage lender, or the HOA office to hand over the unvarnished truth. It won’t happen. In an effort to protect these young property buyers I will bare the truth. The whole truth. And nothing but the truth. Because I’ve spent a decade in HOA HELL I will do everything in my power to protect others from the same.

If buyers, of any age forget the sales pitch and remember the following they will be making an informed decision. You sign away your US Constitutional Rights when buying in an HOA. You become business partners with all of your neighbors in a non-profit corporation. You become the guarantor for money to pay on all debts, loans, lawsuits, settlements, liabilities, construction defects, and disaster rebuilds. And any other reason the HOA board of directors may decide an assessment shall be demanded from you.

Just like those college loans, you cannot escape the HOA payments and risks. One may be the ball and chain around your ankle while the other could be the noose around your neck.

I’m going to ask a favor of every reader. Please share this blog and the link below with every person you know between the ages of 18 and 30. We must save as many in the younger generation as possible. For each one we reach there will be countless others who will also receive this message via social networking and coffee shop discussions.

Thank you in advance for being a reader who tries to make a difference!

(link to article on student loan debt)


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Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

2 thoughts on “School Loans + Home Buying = Lack of Info

  1. Dave Russell

    Like Paul Revere, the message needs to be shouted from the HOA rooftops, BUYER BEWARE! As I’ve said many, many times, ” You are one board member or HOA manager away from HOA HELL!”

  2. Jim Lane

    Thanks Nila ! You’ve hit the nail on the head, as they say. Those who are buying Homes today, especially Millenials (and younger), are both less in number and more aware than their parents. First they aren’t buying! They aren’t interested in being “stuck” with something they have to get rid of in order to be Mobile – THE buzzword for this generation. Second, they are loaded with debt and don’t want / can’t get any more. Third, they are more tuned into “Loss of Rights” and “Government Regulations” over their lives. Left to this Generation, HOAs are fast becoming less desirable and are no longer an argument for “protection” from Pink Homes and Trucks on Blocks in Driveways. HOAs serve ONLY to protect the Home Building Industry, Local Governments from responsibility for Infrastructure and protection and production of assured Income for the now huge, National HOA Industry ( Community Management Companies and Attorneys ). HOAs are entrenched and assured their position by Industrty Lobbyists. HOAs are beginning to lose favor — due to lifestyle and economics of new Buyers and even Retirees who realize that they are only a burden and hindrance on their lives and their investments. We can’t “legislate” them out of existence. They will die as they now longer serve a purpose for Homeowners.

    And as Homeowners make decisions NOT TO BUY A HOME IN A HOA GOVERNED COMMUNITY

    It’s happening. Thanks to buying decisions, HOAs will fall out of favor. More and more Realtors are hearing ” Don’t show me a Home in an HOA … I won’t buy it ! “


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