I agree 100% with everything you said. I think of the same issues. There are risks with buying – like the neighborhood or building going downhill. When you rent, you can just take off if that happens. It’s a sad state of affairs but that’s the way our country seems to be going.
For the most part, HOA’s due appear to be a total rip-off. I rent a house in Temecula that has a HOA and it’s a complete waste of $100/month. All they do is mow 3 strips of grass, pull weeds on a couple of slopes, and go around fining people for not mowing their lawns. Meanwhile, all of the investors are bailing and the neigborhood is starting to look like a ghost town. I don’t think someone in pre-foreclosure is going to pay their HOA fines anyway.
