With 3 out of 4 new homes
built as a Common Interest Community "CIC" (i.e.,
Condominum Cooperative, townhouse and single family homeowners
associations) and more than 1 and 6 existing homes already
part of one that means
over 50
Million Americans are in a CICs
Elected officials on every
level have not began to deal with this impact this type of
development bring on to the residents. As well
existing federal laws are putting
CIC into potential insolvency; Let alone, the double
taxation that residents of CIC face today.
Many of the issues that CIC
encounter are covered here, but until our elected officials understand
and take CIC's in to account when they make policy decisions these
problems will only grow.
If the economy of the US
is largely based on home ownership, we have the potential
for some
huge problems in our homes and financial markets because there
is a clear lack of planning and educational opportunities for
the owners of homes in CICs.