ChipFTAC01 said:
Deats said:
HOAs in cities are the bastion of neighborhoods full busybodies where SOME people buy houses they can't afford and don't care about.
Most HOAs rules are already city codes.
As quoted by the great Keegan, most HOAs exist when people pay over market for land to protect inflated value.
I've read this about a dozen times and can't seem to make sense of the economic/market point you're trying to make with this comment. Can you elaborate?
When you buy what was farmland with a house on it for $250k in 2018, and that same house is available for $260 in 2019, an HOA is used to protect the value of the $250k house, because now it's used, why wouldn't you buy the newer house for $260k? So builders had to use HOAs to protect the value of the homes they were building in suburbia so that they could continue to throw them up or no one would by a house for $260k that would be worth $230 in 3 years bc the build was throwing up crap as fast as he could next door. So HOAs had to used to slow the depreciationZ
Then builders, city's and lawyers saw ways to make money on the deals and they became prolific.
Builders got tax breaks from the cities for stuff they were going to build anyways like roads, parks and lakes but passed the costs directly to the residents.
Cities then bypassed the maintenance on those same items by keeping the deeds in HOAs names and they get to collect property taxes on them.
Lastly the lawyers get to write the covenants, run the management company, and profit from the enforcement letters, lawsuits, and the foreclosures.
And the HOA members pay $150-300 month that's not tax deductible for right to use their parks pools and roads.
“A republic, if you can keep it”
AggieKatie2 said:
ETX is honestly starting to scare me a bit as someone who may be trigger happy.