Thursday, June 19, 2014

Condominium Ownership Is Becoming the American Nightmare

Condominium Ownership Is Becoming the American Nightmare:

"Many homeowners who have bought into the American dream by purchasing a condominium are now regretting that decision, as some find themselves unable to sell or rent their units, while others face court battles with investors trying to force them out of their homes."


I don't think "is becoming" quite says it.  Some of us have been pointing out the problems for a long time.

1 comment:

IC_deLight said...

Amen. "Becoming" is the wrong tense. The current owners didn't understand that the reason they are current owners is because they had already become nightmares for the former owner.

Members of trade groups such as CAI actively seek ever more restrictions on owners under the pretext of "preserving value". Why? Well more restrictions means more lawsuits, more fines, more chaos, more financial hardship, more foreclosures, and thus more money for the industry of HOA attorneys and HOA management companies. I've certainly seen CAI attorneys promote restrictions on leasing here under the pretext of "preserving value". 'Course the only "value" preserved is for the industry attorneys and management companies, not the owner that becomes the target and not the owners as a group otherwise.