Your Condo Is Struggling: Should It Be Redeveloped?

Category: Home Owners Associations

Sept. 4, 2025 -- Unfortunately, condo properties can get in danger of going bankrupt. It happened back in the housing crisis of 2008-9 because many homeowners, who had lost their jobs or most of their income, defaulted on their HOA dues. The same danger exists for many condo properties in 2025, but for different reasons. 3 Problems Taking Condos to the Precipice. Three big problems are causing many HOAs to realize they might be able to continue as viable organizations. These combined problems are causing some financial liabilities that are higher than the value of the property. In which case, it might be better for everyone to sell out to a developer or other buyer.

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