this post was submitted on 16 Sep 2024
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Even if you own your apartment in 2, you still likely don't own the building
You don't have to own the building. It's not like a trailer park where you have to lease the land. You pay management fees for upkeep and you get a say in how you want the building managed.
Typically apartment blocks are owned and managed by a HOA.
That's where then fun starts. You "own" your apartment but can't do shit without approval by 20 nimbys. Also you pay into a HOA fund for general stuff.
Owning apartments is the worst of both worlds. Get a huge loan just and still don't get to do with your property what you want. It's "property" commodified and enshittyficated. But what can one do these days? Buy a house? hahahahaha.
It seems only Americans actually have this problem though. Rarely here complaints over here about HOAs.
There are European countries that have similar systems for apartment buildings where every unit is owend by a different person.
Lmao. This argument isn't worth having.