Your Condo Is Struggling: Should It Be Redeveloped?

Sept. 4, 2025 — Unfortunately, condo properties can go 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. Combined together, they are creating financial liabilities that are higher than the value of the property. In which case, does it make sense for the owners to sell the property to a developer or other buyer.