Demanding that HOAs save money for the future is just one part of the solution. In practice, a fully-funded reserve account is a solution that may be impractical or impossible to implement for the vast majority of existing HOA-governed communities.
As illustrated by several examples in this post, all types of HOA-governed housing — including low-rise condominiums, townhouses, and planned communities with single family homes — are seeing a rise in expensive and unexpected repairs.
This post summarizes what we know now, considers how the collapse of Champlain Towers South might have been prevented, and opines on what lie ahead for owners and survivors.
What a different a year makes. As the U.S. begins to return to “normal,” the housing market is in a state of turmoil. Millions of folks want to buy a home, and competition is fierce in some markets. IAC takes a look at some current trends, and the changes occurring in the market for HOA-governed housing.