Tuesday, March 03, 2015

Witness describes payoffs, rigging elections, in HOA fraud trial


I wonder what effect all this publicity will have on the market for condo and HOA properties. Do most people think it is another "isolated instance," or do they understand how fragile these associations are?

1 comment:

IC_deLight said...

"market" implies choice, Evan.

The "choice" people are limited to is "which HOA". About the only effect this publicity is going to have on a market is the market for the condos involved in this scandal. Publicizing the fraud, embezzlement, and other criminal activity makes the properties in that particular HOA less marketable. Hence the solution promoted by the management (which is often complicit in the fraud, embezzlement, and financial crimes) is to keep things quiet. Conveniently benefits the management under the pretext of "preserving home values" for the property owners.