Slowly, very slowly, members of Homeowners Associations are discovering that the basic design of American HOAs is fundamentally and profoundly flawed. The system encourages embezzling. The system of double-checks that marks all traditional governments was just never built into the HOA system.
The latest alleged embezzlement was only discovered by accident. More than a quarter million bucks is missing from an Arizona HOA and each homeowner is going to be straddled with special assessments. “Gosh, I thought Homeowners Associations protected property values?”
Buy into a Homeowners Association and risk your life savings. That’s just the way it is.