Does the California Legislature Seek to Turn the State into One Massive HOA Community?
In 2021, real estate development records show that homeowner associations (HOAs or common interest developments, CIDs) represent the dominant form of residential property development in California. The state government enabled this in concert with private developers. This reality is also true for a majority of other states.
Observing the California budget rolling out for 2021-22, it appears our political leaders would like to reshape the entire state into one giant HOA. Think not? Then read about the massive social experiment to create a state-controlled real estate investment trust (REIT) to, allegedly, make housing affordable in the state. Details to be determined.
So the state may kick in 45% of the cost of a home, and lawmakers don’t think that home builders and sellers will not inflate the value of a home to squeeze more money out of them? This will essentially make buying a home impossible without the state’s money or help. This will allow the state to have 45% control of every home and homeowner in the future of CA. How convenient for the lawmakers?
Imagine having to get approval for modification or the sale of your house through the CA government! Are you ready for that?