A Crash Course on Reserve Studies
October 21, 2024
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According to the Foundation for Community Association Research, around 75.5 million people in the United States live in a homeowners association (HOA) community, which is more than 30% of the U.S. housing stock. Reserve studies refers to a vital capital planning tool for Homeowners Associations and condominium associations that provides directional guidance and an in-depth analysis of community assets.
The Federal Reserve is hoping to provide some economic relief to Americans through an interest rate cut made in September, as preparation for a potential recession continues. Higher interest rates have stunted the housing market, as home buyers are pulling back due to high borrowing costs and soaring home prices.
ADUs have the potential to increase housing affordability for homeowners and tenants, create a wider range of housing options within a community, and facilitate better use of the existing housing fabric in established neighborhoods.
In March 2024, the National Association of Realtors (NAR) entered into a proposed settlement agreement with various homeowners to resolve a nationwide litigation concerning broker commissions.
