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Old 06-03-2016, 03:44 AM
 
1,185 posts, read 1,496,983 times
Reputation: 2296

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Quote:
Originally Posted by modernist1 View Post
A troll-like comment. The arguments against condo living are there, but your assumption about 'cool' is preposterous (and sophomoric). An additional possible plus - as opposed to say, renting, is that if real estate prices go up, the owner has something to sell. In addition for those who want to live in the central city, a house might well not be an option or a choice.
Nah, he's half right. The condo industry tries to rope in dopey people who have the IQ of a slug by using hip marketing campaigns and promises of rooftop pool parties. These are the same people you'll typically find texting while driving, listening to Justin Bieber, talking about the Kardasians, and supporting liberal movements that they know nothing about.

For others, like seniors, it's a good option due to low maintenance, and if the HOA is fair, then I'm all for condo living.

In many cases though, it's a scam.

You should see some of the HOA fees for condos in Walnut Creek. I've seen $800+/month.

They must be paying their pool boy extremely well to justify those prices.

Also, if house prices go down, you're stuck trying to sell it in a falling market for less than you owe, while convincing someone to pay a HOA fee in addition to taking risk on it losing even more value. If I'm going to share walls, I prefer apartments. So easy to just walk away. And what benefit do you really get from "owning"(do you ever really?) a condo? Even if you get the thing paid for, you still have to cover HOA fees, taxes, and their shared maintenance BS.
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Old 06-03-2016, 09:08 AM
 
28,111 posts, read 63,536,638 times
Reputation: 23240
Quote:
Originally Posted by RMESMH View Post
But wouldn't the racial part of that restriction be unenforceable? I thought that was outlawed in the 1960s.
I wrote unenforceable restrictions that were auto corrected...

Fixed it... thank you for bringing it up...
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Old 06-03-2016, 11:24 AM
 
10,920 posts, read 6,890,026 times
Reputation: 4942
Quote:
Originally Posted by Lockdev View Post
Nah, he's half right. The condo industry tries to rope in dopey people who have the IQ of a slug by using hip marketing campaigns and promises of rooftop pool parties. These are the same people you'll typically find texting while driving, listening to Justin Bieber, talking about the Kardasians, and supporting liberal movements that they know nothing about.
Haha...what? What do any of these have to do with each other...love the little snipe at "liberal movements". Awesome. So relevant.

Quote:
Originally Posted by Lockdev View Post
For others, like seniors, it's a good option due to low maintenance, and if the HOA is fair, then I'm all for condo living.

In many cases though, it's a scam.

You should see some of the HOA fees for condos in Walnut Creek. I've seen $800+/month.

They must be paying their pool boy extremely well to justify those prices.

Also, if house prices go down, you're stuck trying to sell it in a falling market for less than you owe, while convincing someone to pay a HOA fee in addition to taking risk on it losing even more value. If I'm going to share walls, I prefer apartments. So easy to just walk away. And what benefit do you really get from "owning"(do you ever really?) a condo? Even if you get the thing paid for, you still have to cover HOA fees, taxes, and their shared maintenance BS.
I agree, condo living often doesn't make much financial sense. I've even looked at some of the "affordable housing options" (BMR) in various cities in the Bay Area, and sometimes the HOA fees are super high even on those - high enough I have no idea how someone making the below-the-max-allowable salaries could afford the HOA and the mortgage...
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