Condominium prices, townhouse prices, home owners insurance premiums, insurance premiums for home owners associations, energy costs, renewable energy, the impact of interest rates and inflation on HOA reserves and finding good HOA management firms are the hot topics that we'll be covering here.
The housing market is growing slowly compared to recent years and is quite weak in many markets.
Interest rates are encouragingly flat to falling, which may help home sales. At the same time, however, the interest HOAs will earn on certificates of deposit and money market accounts will decline, or at best, hold steady.
Natural gas prices are tanking, and petroleum prices are correcting, but renewable energy will continue to be worth considering by HOA boards that are running large buildings.
Inflation seemed to be threatening earlier this year but seems to be less of a threat today.
In many states, the government's increasing policing of illegal immigration will put HOAs and their contractors at risk. They must be sure that their vendors are employing people who are in the country legally.
This could drive up the cost of maintaining condominium and townhouse communities. If fewer illegals are available to grounds maintenance and painting contractors, they'll have to pay more to get workers. And they will pass those costs on to home owners.
Budget for it.
