Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

  • @Paradachshund
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    157 months ago

    It’s good you have a good one, but the big issue with them is they have almost no oversight at all. They almost function as little privately owned fiefdoms with extremely broad powers over anyone under them. Yours might be good now, but there have been plenty of examples of a good HOA being bought by a corporation and then becoming tyrannical almost overnight. There’s a whole industry of HOA management companies out there, and they are bad news. The last time I saw the statistic something like 80% of new construction in the US is managed by an HOA, too.

    Don’t get me wrong, when they work right they serve a purpose, but the lack of laws and oversight of them is pretty scary when you look into it.