Aspen’s (CO) government housing projects are falling down
Since the government-set prices are so far below market value, there’s no doubt that the sellers will receive that price in full. Whether the houses are in tip-top shape or falling down, the selling prices will be the same so there’s no economic incentive to maintain them. Indeed, the homeowner association reserves established by the residents of the projects for ongoing maintenance are only 22 percent of what is necessary. The maintenance that the other 78 percent is supposed to pay for is simply left undone. Read the article…………..