3. This is upscale, luxurious, living for people who think they have status, but really don't. They think living in a candominium is better than a condominium, which they can't afford.
Mandi: Yeah, I've been painting my formal dining room, formal breakfast nook, formal living area, the den, and the like to my new home in the gated community.
A bandominium is the opposite of a condominium. Essentially it’s a “traphouse/bando.” An abandoned house, but it’s not in as bad shape as most abandoned homes, so the homeless refer to them as bandominiums.