Real estate can quickly become a liability now because you can be forced to assume costs you can't turn off while also retroactively lose income.
For example now in addition to the mortgage you originally agreed to:
Your HOA can demand significant upgrades to your house and fine you or put a lean on it if you don't. They can actually foreclose and take your property from you.
YOUR HOA can take away your income sources such as renting it or working from home or a home business.
You can be forced to connect to utilities you don't need such as expanding water and sewer and electrical utilities or stay connected as they raise their minimum monthly charges even if you don't use their services.
You can of course have higher taxes applied to your property.
Your insurance rates can go up drastically and both your mortgage company and HOA can demand you maintain it.
Now of course if you were dumb enough to get a variable rate mortgage with a high rate ceiling you can get hit with that.
This is drastically different from why real estate used to be a good investment when you could control your costs and more importantly set your costs at a fixed amount that could not rise. Almost impossible now in any near urban or suburban area.
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