I'm not aware of any law which limits condo fee increases and they can be insanely high for some buildings. I think most building were forced to raise their condo fees in the past couple years due to utilities, insurance, etc.
The issue (long term) is how quickly they are going up in general. It sounds crazy to think condo fees could be more than a mortgage payment but if condo fees keep going up the way they do, it will definitely happen
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