Millions of people move into Homeowner Associations, thinking they’re protecting the value of their home. They sign covenants promising to abide by a byzantine set of covenants that amount to a surrender of all Constitutional rights. They reason, “At least I’m protecting my investment.”
But in a massive number of Homeowner Associations, someone on the inside is embezzling staggering sums of money, all of which have to repaid by the homeowners. If the crook is caught, the judge generally orders restitution, but that’s just pro forma. It rarely happens. When homeowners are forced to make up for the stolen money, for all intents and purposes it’s a direct devaluation of every home in the neighborhood.