Community associations offer one of the best opportunities for Americans to own their own homes. They are for the 21st century what land grants were in the 19th century, and what the New Deal and GI Bill were in the 20th. Why?
Community Associations Make Owning a Home Affordable
Almost from their inception in the 1960s, condominiums have provided housing for low-to-moderate income Americans. In fact, in some areas, builders are required to include a certain percentage of affordable homes in new developments.
Also, converting rental apartments and commercial buildings into condominiums not only revitalizes many decaying neighborhoods, it’s also made ownership more affordable for those wanting to live in urban centers.
Community associations have made home ownership possible for millions of Americans partly because 21st century families tend to be smaller, the number of single-parent homes has increased, and more retirees are staying in their homes after retirement.
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