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Is it a wonderful day in the neighborhood?

Neighbor vs. neighbor as homeowner fights get ugly. 'As more are unable to pay homeowners' fees, associations pit neighbor against neighbor'. Today, one in five U.S. homeowners is subject to the will of the homeowners' association, whose boards oversee 24.4 million homes. More than 80 percent of newly constructed homes in the U.S are in association communities. And of the nation's 300,000 homeowners' associations, more than 50 percent now face "serious financial problems," according to a September survey by the Community Association Institute. An October survey found that 65 percent of homeowners' associations have delinquency rates higher than 5 percent, up from 19 percent of associations in 2005.' [more inside]
posted by VikingSword on Jul 9, 2011 - 167 comments

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