In some areas many people are generally priced out of owning single-family houses or townhouses, leaving condos as their only available ownership option. Yes, I’m concerned about high HOA dues and special assessments, which is why I’m hesitant to buy a condo. However, there are still differences between owning a condo and renting an apartment. It’s not foolish to buy a condo, especially in areas where the alternative is the precarious nature of renting.

At least around here (SE Michigan), there is nothing particularly wrong with condos. Perhaps we have less-bad regulations, to allow properties to get into such dire shape? Or we just have far fewer high-rise condo's, where the realities of structural engineering and maintenance are so much less forgiving?