The Condo Crunch - washingtonpost.com: "More than two years into the housing slump, the challenges facing Washington's condos are mounting. Sales prices are falling and are not expected to stabilize soon. The number of condo owners not paying their association fees is rising along with foreclosure rates, creating a budget crunch weighing down many communities.

In the face of budget shortfalls, some associations are taking drastic steps to cope, including delaying maintenance and hiking monthly assessments. Others are setting aside part of their budget to cover delinquencies for a time or looking for ways to help owners catch up on payments."
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Slowly the media minds begin to pick up on what is happening. The invisible governments are in trouble all over the nation. State, county, and municipal governments are lining up for bailouts. But nobody is putting the whole picture together. What happens when condos and HOAs are struggling, non-federal governments are staring at looming insolvency, and the federal government is stretched thin to fund wars, corporate bailouts, and those tax cuts Obama promised almost all of us?