A Perfect Circle

A 'He's a 10, but...' style joke is circulating in US real estate circles, using the popular rating meme to highlight how steep monthly homeowners association fees can kill an otherwise perfect property. Sacramento appraiser Ryan Lundquist used the format to make a serious point: buyers weighing a dream home should factor a large HOA fee into affordability, since it can function like a second mortgage payment and shrink what they can actually borrow.