Well, Bunky, that’s the biggest lie you’ll ever hear.
Several years ago, I warned all of you about the pending crash of the Las Vegas housing market. It happened exactly as I predicted. At the heart of the problem is the government’s reliance on Homeowners Associations to perform traditional government functions and services. All HOA contracts are corrupt at their core. They were a flawed model from the start, and what’s going on in Las Vegas foreshadows what’s coming for the rest of the nation.
This neighborhood collapse will continue. With what’s going on politically right now the future is set in stone. You don’t have to be a Nostradamus to prognosticate. Flag this date and this blog post. And come back to me five years from now and tell me I was wrong!
(link to investors fleeing the Las Vegas housing market)
Ward, you are 100% right! This is very sad, but very few have wanted to listen and most continue to turn a deaf ear! Especially, elected officials, investigators, law enforcement and state and federal housing agencies. Sometimes, some banksters are right along side those HOA/COA/POA (HOA) board members, or others abusing HOA homeowners and setting them up to become homeless, stealing equity and all. Those originating housing loans in HOAs across America should be held just as accountable as any HOA board, or CAM, or other involved in their criminality. The banks/lenders guarantee these documents via any title search involved in the purchase of an HOA property and this is why there is title insurance. The banks/lenders should be required to disclose the truths about the mandatory HOA associations at are present on the deeds in the way of CC&R’s, etc. that are deed restrictions on the real property. I believe it is deceitful (and possibly illegal) for them not to, especially, since the HOAs are acting as invisible mortgagors with no defined amount (any amount, or amounts can be made up, simply fabricated, at any time during the home buyers time of ownership in the HOA) and I believe this violates lending laws! It is sad and discouraging to see all this happen in American housing and to American homeowners for sure! Thank you for your incredible expertise, advocacy for HOA homeowners and home buyers and your “voice.”