Analysis/ Opinion Needed

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I don't expect anyone to have the right answer because I know there are so many unknown variables involved but....

Say there is an a condo association made up of six 40 yr old high-rises. Within the last year there was a change in the executive board, allegations of past financial misconduct, a new management company in place, and a new set of special assessments that have been passed for the next 3 years even though it had been argued close to 50% were already late on the regular assessments, and regular assessments are high as is (450 for 2br) yet they just bumped them 10%----basically it seems like a bad situation.

However when I go online to bairdwarner.com, craiglist, and some other sites, absolutely none of the condos are on the market (6 highrises, with approximately 200 units per building means a TON of units. I would imagine after all that happened within the last year, most people would be looking to drop their investment and look for something more stable.

Can anyone suggest any insights at what is going on? I'm trying to understand why something like this would be happening----or rather not happening---- given all that I had told you.