An historical review on HOA foreclosures Charleston County, South Carolina looking back nearly two decades. The bottom graph shows the collateral damage the residential real estate meltdown and subsequent recession had on HOA assessments. And this is just a single county in a single state. Imagine what it would look like if all of Privatopia were included.
Homeowners associations in Charleston County have filed hundreds of foreclosures during the past two decades for unpaid dues, meanwhile no government regulates the foreclosure process used by associations.