America’s 100 Richest Places:
With average household incomes ranging from $192,000 (Fort Hunt, VA) to $444,000 (Atherton, CA).
Wednesday, March 22, 2017
Tuesday, March 21, 2017
Abbott wants "broad-based law" that preempts local regulations | The Texas Tribune
Abbott wants "broad-based law" that preempts local regulations | The Texas Tribune: "CORPUS CHRISTI — As local control battles rage at the Texas Capitol, Gov. Greg Abbott is voicing support for a much more sweeping approach to the issues that have captured headlines.
"As opposed to the state having to take multiple rifle-shot approaches at overriding local regulations, I think a broad-based law by the state of Texas that says across the board, the state is going to preempt local regulations, is a superior approach," Abbott said Tuesday during a Q-and-A session hosted by the Texas Conservative Coalition Research Institute, an Austin-based think tank.
Such an approach, Abbott added, "makes it more simple, more elegant, but more importantly, provides greater advance notice to businesses and to individuals that you’re going to have the certainty to run your lives."
Abbott made the remarks in response to a moderator's question about legislation this session that would "prohibit any local ordinance from exceeding the standard set by the state.""
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Because conservative Republicans believe in devolving power to the local level...right up until Democrats control city governments, and then suddenly Republicans become big believers in having the state governments controlled by Republicans make all the decisions.
"As opposed to the state having to take multiple rifle-shot approaches at overriding local regulations, I think a broad-based law by the state of Texas that says across the board, the state is going to preempt local regulations, is a superior approach," Abbott said Tuesday during a Q-and-A session hosted by the Texas Conservative Coalition Research Institute, an Austin-based think tank.
Such an approach, Abbott added, "makes it more simple, more elegant, but more importantly, provides greater advance notice to businesses and to individuals that you’re going to have the certainty to run your lives."
Abbott made the remarks in response to a moderator's question about legislation this session that would "prohibit any local ordinance from exceeding the standard set by the state.""
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Because conservative Republicans believe in devolving power to the local level...right up until Democrats control city governments, and then suddenly Republicans become big believers in having the state governments controlled by Republicans make all the decisions.
Bozeman to study shifting HOA-managed parks to city maintenance district | City | bozemandailychronicle.com
Bozeman to study shifting HOA-managed parks to city maintenance district | City | bozemandailychronicle.com: "In the past, Mayor Carson Taylor has said a parks district could equalize a system where HOA members pay both HOA fees for parks and the city taxes that fund the parks department. It could also help the city pay for maintenance in the new TOP-bond parks, given that the measure didn’t include any funding for that.
According to a study by the Trust for Public Land, Billings and Missoula have already adopted parks maintenance districts. Missoula’s, the study says, levies a property tax assessment costing a typical homeowner roughly $20 a year."
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So Mayor Taylor is looking to relieve HOA residents of double taxation for parks. I assume the tradeoff is that everybody gets to use the HOA formerly-private parks?
According to a study by the Trust for Public Land, Billings and Missoula have already adopted parks maintenance districts. Missoula’s, the study says, levies a property tax assessment costing a typical homeowner roughly $20 a year."
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So Mayor Taylor is looking to relieve HOA residents of double taxation for parks. I assume the tradeoff is that everybody gets to use the HOA formerly-private parks?
Attack of the Killer HOA Fees - Trulia's Blog
Attack of the Killer HOA Fees - Trulia's Blog:
Here is a piece from Trulia (discussed in the post below) that finds that, "Between 2005 and 2015 HOA fees rose 32.4% compared to just 15.1% for the median U.S. home."
Here is a piece from Trulia (discussed in the post below) that finds that, "Between 2005 and 2015 HOA fees rose 32.4% compared to just 15.1% for the median U.S. home."
D.C. area HOA dues jumped nearly 50 percent between 2005 and 2015 - Curbed DC
D.C. area HOA dues jumped nearly 50 percent between 2005 and 2015 - Curbed DC: "Over the past decade, homeowner association (HOA) dues have skyrocketed across the nation and especially in the D.C. area.
UrbanTurf reported that dues rose 32.4 percent between 2005 and 2015 across the nation. This resulted in the median monthly dues changing from $250 to $331.
In the same amount of time, the median monthly HOA dues in the D.C. area rose from $259 to $387, a 49.4 percent increase."
Here is the Urban Turn piece.
UrbanTurf reported that dues rose 32.4 percent between 2005 and 2015 across the nation. This resulted in the median monthly dues changing from $250 to $331.
In the same amount of time, the median monthly HOA dues in the D.C. area rose from $259 to $387, a 49.4 percent increase."
Here is the Urban Turn piece.
Are condo & HOA bank deposits fully insured by Uncle Sam? - Loop North News
Are condo & HOA bank deposits fully insured by Uncle Sam? - Loop North News:
The answer is more complicated than you might think. Are the association's funds in an account in its own name? Or are they commingled in one big account in the name of the management company, that is way over the dollar limit on federal depository insurance? If so, “If the management company is complying with the FDIC’s rules for pass-through deposit insurance coverage, then each HOA the company is holding funds for in the commingled account would have up to $250,000 of deposit insurance coverage at that bank,” explained the FDIC memorandum.
But what if they are not complying with those rules for pass-through deposit insurance coverage?
The answer is more complicated than you might think. Are the association's funds in an account in its own name? Or are they commingled in one big account in the name of the management company, that is way over the dollar limit on federal depository insurance? If so, “If the management company is complying with the FDIC’s rules for pass-through deposit insurance coverage, then each HOA the company is holding funds for in the commingled account would have up to $250,000 of deposit insurance coverage at that bank,” explained the FDIC memorandum.
But what if they are not complying with those rules for pass-through deposit insurance coverage?
Monday, March 20, 2017
Census data show HOAs present few economic benefits to taxpayers, homeowners, local governments – Independent American Communities
Census data show HOAs present few economic benefits to taxpayers, homeowners, local governments – Independent American Communities:
This is an interesting analysis of census data by Deborah Goonan. You can access the original data here. She tries to get to the truth of several claims by the industry:
"The HOA industry is fond of bragging about the ever-increasing number of association-governed communities and housing units in the U.S., and makes grandiose claims that privatization of services in common interest, association-governed communities provides economic relief to both homeowners and local governments, keeping taxes low and home ownership more affordable."
Her goal is to see if these claims are supported by census data. Her answer is, "no." See what you think.
But there are other things in the data that are beyond dispute, some corroborated by other data. For example, the overwhelming majority of new housing in this country is in some sort of community association. The National Association of Home Builders did their own survey, and they compare the census findings with their survey as follows:
"When analyzed by intended use, 72 percent of new homes “built for sale or sold” in 2015 were in a community association, up from 63 percent in 2010. Among “contractor-built” homes (built on owner’s lot with owner hiring a builder or a general contractor), 23 percent were within a community or homeowner’s association (up from 21 percent in 2010), and only 12 percent of “owner-built” homes (owner acts as the general contractor) were within a community association, essentially unchanged from the 13 percent reported in 2010. Another source of information on this topic is NAHB’s recent survey on the Typical American Subdivisions. One of the questions asks whether there is a HOA, condo, or other type of community association for the development. Results show that 80 percent of the subdivisions have one of these association types."
Note that community associations are 72% to 80% of new housing built by developers, but only 12 percent of owner-built homes. So the notion of people voluntarily choosing association living, one of the common myths perpetuated by the industry, is clearly disproved. CIDs are a solution to supply-side problems, not the result of consumer demand. Developers and local governments have taken the choice out of the housing market.
This is an interesting analysis of census data by Deborah Goonan. You can access the original data here. She tries to get to the truth of several claims by the industry:
"The HOA industry is fond of bragging about the ever-increasing number of association-governed communities and housing units in the U.S., and makes grandiose claims that privatization of services in common interest, association-governed communities provides economic relief to both homeowners and local governments, keeping taxes low and home ownership more affordable."
Her goal is to see if these claims are supported by census data. Her answer is, "no." See what you think.
But there are other things in the data that are beyond dispute, some corroborated by other data. For example, the overwhelming majority of new housing in this country is in some sort of community association. The National Association of Home Builders did their own survey, and they compare the census findings with their survey as follows:
"When analyzed by intended use, 72 percent of new homes “built for sale or sold” in 2015 were in a community association, up from 63 percent in 2010. Among “contractor-built” homes (built on owner’s lot with owner hiring a builder or a general contractor), 23 percent were within a community or homeowner’s association (up from 21 percent in 2010), and only 12 percent of “owner-built” homes (owner acts as the general contractor) were within a community association, essentially unchanged from the 13 percent reported in 2010. Another source of information on this topic is NAHB’s recent survey on the Typical American Subdivisions. One of the questions asks whether there is a HOA, condo, or other type of community association for the development. Results show that 80 percent of the subdivisions have one of these association types."
Note that community associations are 72% to 80% of new housing built by developers, but only 12 percent of owner-built homes. So the notion of people voluntarily choosing association living, one of the common myths perpetuated by the industry, is clearly disproved. CIDs are a solution to supply-side problems, not the result of consumer demand. Developers and local governments have taken the choice out of the housing market.
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