[hgsgm]

HOA doesn't have an opt-out, and does have a monopoly on homes within a geographical area. And often nearby areas have HOAs also. And HOAs can be kept secret from home buyers until after they sign a purchase contract. So meaningful consent is often absent.

[Volundr]

And in fact most new developments are built with HOAs already intact, meaning finding a home without an HOA is constantly becoming harder. This isn't a free market customer choice thing. The supply comes with the burden whether the customer wants it or not.