Fannie Mae and Freddie Mac are compiling troubling blacklists that prohibit mortgage financing for entire condominium or housing cooperative buildings. As the blacklists grow, community managers and board members have no knowledge their buildings are on them. When people are unable to buy and sell units in these buildings, property values may be affected.
Aging condominium buildings and infrastructure has been a growing concern over the past year, following the tragic partial building collapse at Champlain Towers South Condominium Association in Surfside, Fla., in June 2021. Learn more about condo safety legislation, laws, and regulations, and how CAI is advocating for sensible public policy.
Federal legislation was introduced earlier this week to provide condominium associations access to insured building rehabilitation loans—a move that would help board members make critical structural and safety-based condo repairs.
Community associations across the country have begun to fight back against the corporate investors who have changed the nature of the communities.
While large-scale cyberstrikes are most talked about, community associations should not consider themselves invulnerable. Each community should understand their risks, evaluate cybersecurity protection, and decide whether specialized insurance is worth the cost.
Extreme drought has brought a series of new water restrictions to the West, set to impact the region in the coming months. Water used for landscaping makes up about 70–80% of urban water use in Southern California, and drought conditions are not expected to ease. Communities need to find ways to adapt to the crisis.
