Condo associations may be coming to an end

November 16, 2010

Produced by Eight Forty-Eight

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Chicago's condominiums were hit hard by the housing collapse.

Smaller municipalities have had a tougher go at bouncing back from economic hardship. Especially those teeny tiny ones called condo associations. Foreclosed units, unpaid dues and costly special assessments have bankrupted some associations and left many buildings in shambles. So, does that mean the end of common-interest housing?

Evan McKenzie authored ‘Privatopia: Homeowner Associations and the Rise of Residential Private Government.’ He teaches at the University of Illinois at Chicago and is an adjunct professor at the John Marshall Law School.

Professor McKenzie told Eight Forty-Eight how the condominium system is flawed, and how to avoid the pitfalls.

Music Button:  Extra Golden, "Ilando Gima Onge", from the CD Ok-Oyot System, (Thrill Jockey)