Keep drinking the Kool Aid!!!!
May 14, 2008
– Comments (3)
When people buy condos, they expect their monthly fees will cover many of the responsibilities that they would otherwise have as single-family homeowners, like cutting the grass and paying the water bills. Now many find themselves nagging each other in the hallways to pay their assessments and adding special fees while haggling over chores. In Miami, Chicago and San Diego, condo owners are adjusting to the economic woes, sometimes by mowing themselves and working shifts for building security — all while lamenting their lost community.
http://www.nytimes.com/2008/05/15/business/15condo.html?_r=1&oref=slogin
In many HOA communities, over 40, 50, 60% and more of the occupants are not paying their respective fees.
What funny is that some say so what...that is not a big deal because I don't live in a HOA community and even if I did, who needs a pool and manicured common areas?
Well guess what, if we live in America, we all live in a HOA community of sorts...it is called the United States and the fees are the taxes we pay. Right now tax delinquincies are rising at record rates...even in municipalities and states that were not hit by the current housing crisis. The Federal Deficit is running at a record level.
Instead of lawns not being cut, or pools growing algae...... police officers, firefighters, and school teachers are getting fired. Services are getting cut. Crime is rising in many communities and there is less enforcement officers to assist. Homeless shelters are running out of space, animal shelters are overflowing, and food shelves are running out of food.
In April, not only did we have record foreclosures, we had record notices of foreclosure. Guess what? That means even more foreclosures ahead, lower property values, and even less tax revenues to our government.
We have one branch of our government telling us that Gas prices went up over 9% in April alone and today another branch tells us that Gas prices fell in April at an ANNUALIZED rate of negative 2%?
The problem with drinking laced Kool-Aid-it tastes great until you start to feel the poison kick in.
Keep making fun of those people that live in condos and communities that are seeing their funds dry up.....pretty soon it may happen to your local, state or federal government. When that happens.....you may have a different perspective when it starts to effect you.
What flavor Kool Aid do you favor?
RSS Headlines
Fool UK