Because one (obviously not all) of the problems that HOAs were created to solve is still around: terrible neighbors. It's not always an option to pick the best neighbors when you're looking at a home, and HOAs at least let you quickly see that your neighbor isn't going to be dumping sewage or old rusted machines in your yard. They also can be a quicker, more accessible route than going through with an individual lawsuit if your neighbor does begin acting like an ass. I've had to deal with bad neighbors in rural and suburban settings, and I would honestly pick HOA over that.

I wouldn't live in an HOA neighborhood if I could avoid it, but I also wouldn't want to live in a neighborhood if I could avoid it. Give me a large, spacious, well-insulated apartment in an urban area and I'd be happy.