As Households in America Change, What Does it Mean For Your HOA?
To say that life in America is always changing is like saying a desert is kind of sandy: it's an understatement. Less prevalent today is the "classic" family model featuring the bread-winner father, stay-at-home mom, and 2.3 children.
There have been major changes for American families, showing a steep decline in percentage of the classic "Married Family Households" from approximately eighty percent (80%) in the 1950s to below fifty percent (50%) as of 2015, according to the U.S. Census:
This long-term change in the typical family household in America seems to reflect changes in U.S. housing trends as a whole. In his article published by USA Today, writer Matthew Frankel covers the decline in U.S. homeownership and current reasons behind this trend: younger generations placing more importance on experiences versus material goods, the difficulty to acquire the money necessary for a downpayment, frequent career changes, and the often overwhelming home-buying process.
Does This Mean Anything for HOAs and Condos?
The governing documents of many HOAs and Condos include language pertaining as to what constitutes a "Family" allowed to reside in a home within the community, some strict and some lax. As a Board member, you should know what your Declaration says about siblings, unmarried couples, and friends living together. Sure, you aren't trying to get anyone evicted or break up a family, but make sure you know who is a Member, who can vote, etc.
Should an HOA plan to change the rules to encourage potential buyers? How can HOAs change rules to accommodate what might be a finicky and unsteady housing market ?
What do you think? Add your thoughts and comments below.