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Homeowners Associations in the US
IBISWorld, Nov 2008, Pages: 39
This industry comprises establishments primarily engaged in promoting the interests of their members. The industry excludes religious organizations, social advocacy organizations, civic and social organizations, business associations, professional organizations, labor unions, and political organizations. The industry includes such things as condominium or co-operative owners associations (which may be engaged in property management), and homeowners and condominium associations that do not provide property management. A homeowner association is comprised of two or more homeowners that belong to a mandatory membership organization for the maintenance of commonly-owned real estate and improvements. Organizations range in size from a simple duplex to developments with thousands of detached homes, condominiums and townhouses, which have marinas, golf courses and other recreational facilities to maintain. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Introduction
Industry put on hold
Over the past few years, this mature industry has experienced contracting revenue, as home ownership vacancy has increased. The next few years will also be difficult as the housing market continues to contract and the number of new houses built falls. The financial crisis also means baby boomers may delay retirement, which will result in increased condominium vacancies; a prime source of industry revenue.
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