Homeowners’ Associations: 3 facts vs. myths

Independent American Communities

By Deborah Goonan, Independent American Communities

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Top 3 Fact Check list about life in common interest, Association-Governed Housing, including Condominium Associations andHomeowners Associations (HOAs) – also known as Planned Communities or Private Communities.

Myth #1. HOAs are enclaves for the wealthy

Facts:

A recent article in the Wall Street Journal, entitledNeighbor Disputes Turn Wealthy Areas Into War Zones, certainly perpetuates the misconception that only the uber-rich live in HOAs.

But nothing could be further from the truth.

Yes, it’s true that posh high-rise condo towers and gated communities of McMansions have taken over some of the most desirable land in the U.S. And, of course, these properties attract a lot of well-to-do business leaders and celebrities. So naturally they attract a lot of attention from mainstream media and local politicians.

But if you visit most U.S. urban areas, or research real estate listings for sale, it’s easy to…

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