Evan McKenzie on the rise of private urban governance and the law of homeowner and condominium associations. Contact me at ecmlaw@gmail.com
Monday, February 04, 2008
Is a condo a money pit? - MSN Money: "Dont let the surge in prices fool you: The condo craze is all bubble. Worse, living in a condo can be maddeningly complex -- and costly."
Condos should be regulated as investment securities since condos are essentially closely held, publicly traded real estate holding corporations in which investors typically purchase only the right to occupy -- the airspace -- of a condo dwelling unit.
Condos don't really represent the privatization of local government described in your 1994 book, Privatopia: Homeowner Associations and the Rise of Private Local Government. They are a different animal altogeher.
Condos should be regulated as investment securities since condos are essentially closely held, publicly traded real estate holding corporations in which investors typically purchase only the right to occupy -- the airspace -- of a condo dwelling unit.
ReplyDeleteCondos don't really represent the privatization of local government described in your 1994 book, Privatopia: Homeowner Associations and the Rise of Private Local Government. They are a different animal altogeher.