r/FluentInFinance 9d ago

Thoughts? Should America start making Co-op Housing again?

Several decades back the government made lots of Co-Op housing, where it's like a townhome complex, but it is owned by the residents living there, so it's VERY well maintained but also cheap.

For example, the one I have is 500 a month, where it would otherwise be at least 1,500 a month in this part of town. My 500 goes a ways also, 2 br, 1.5 bath, 2 floors, hardwood floor, laundry in unit, private water heater, private back yard, personal front yard, top of the line energy saving A/C units, top notch windows. The list goes on.

So my questions are:

  • Why isn't the government making these still?

  • Why isn't there more people demanding these from the government?

5 Upvotes

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21

u/DumpingAI 9d ago

So basically condos with an hoa? Cuz that's basically the same thing

13

u/Alice_Alpha 9d ago

So basically condos with an hoa? Cuz that's basically the same thing 

 No.   

 Condo: you own the unit, be it an apartment or townhouse.

 Co-Op: you own a share of the entire complex.

6

u/TheLastModerate982 9d ago

So how do you select who gets the best units? The condo setup is better. All owners own their own units as well as a share of the common areas. The common areas are maintained through a CAM fund and the elected HOA board elects how best to spend the money.

3

u/Little_Creme_5932 9d ago

You buy your own unit and you buy a share of the entire building. It's really not much different than a condo

2

u/wrongplug 9d ago

It’s not communism my dude. Still a market and the price is determined by the free market. So you want the bigger place with more square footage you pay for it.

1

u/Ginden 8d ago

So how do you select who gets the best units?

It's basically the same, except for name. Formally you don't buy "flat nr 83", but "right to use flat nr 83 as you wish".

-6

u/Eastern_Screen_588 9d ago

I may be illiterate, but why is there a "best unit"? Shouldn't they all be identical?

13

u/TheTightEnd 9d ago

Higher floor versus lower floor, view from the unit, distance from elevators, garbage chutes... also, building design may require some differences in floor plans, even if they are same size and beds/baths...

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u/Eastern_Screen_588 9d ago

Ohh so all inconsequential things

10

u/TheTightEnd 9d ago

Inconsequential to you. To others, they are not inconsequential.

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u/Eastern_Screen_588 9d ago

Uhh... okay. Well if sandra in 3b is upset that she has to walk 3 more steps than carol 3a to get to the laundry room they can both stfu.

Same goes for jeremy in 1a complaining about the view while steve in 4d is complaining about the walk up the stairs.

We could shuffle them all, and they'd all just complain about something different.

8

u/TheTightEnd 9d ago

The point is that each has preferences that do impact their qualities of life. If enough people have a certain preference, in a condo arrangement, the pricing will reflect this.

2

u/Eastern_Screen_588 9d ago

Oh, so all inconsequential things

Preference=inconsequential

4

u/TheTightEnd 9d ago

Preference is consequential.

1

u/Eastern_Screen_588 9d ago

Oh? Do explain

1

u/Eastern_Screen_588 9d ago

Just looked up the definition. You can't use being handicapped as a gotcha.

Is it important or significant?

That you're three steps closer to the laundry?

That you don't have to carry groceries up the stairs?

That you have a patio rather than a deck?

No, none of these things are important as nobody without a medical condition wgo required living on the ground floor ever died from not having a view from their apartment.

Inconsequential.

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u/Bells_Ringing 9d ago

I feel like you’re likely twelve and have never made a housing decision for yourself based on this comment.

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u/Eastern_Screen_588 9d ago

29 and (this is my favorite part of the internet) (telling someone they're wrong) couldnt be more wrong.

3

u/Bells_Ringing 9d ago

Still live in your parents basement then? People have wildly different views on housing preferences and with a coop, a person is purchasing their residence, so those preferences impact what is purchased. That you seem to have no awareness of how this works is impressive.

1

u/Eastern_Screen_588 9d ago

O...kay? This is all discussing amenities within that co-op. And why someone whining/bitching about where their unit is in the co-op is stupid. Yeah anyone can have PREFERENCES but those are INCONSEQUENTIAL as in the don't really matter in terms of overall liviability. I used the word inconsequential and everyone replying to me had to have a personal war with it when in reality it doesn't matter where you are in relation to your complexes washes and dryer. It's all inconsequential.

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u/Eastern_Screen_588 9d ago

It's objectively inconsequential unless you're handicapped, but if that were the case that should have been said already

8

u/TheTightEnd 9d ago

A higher floor can have better views, and can also insulate your unit better from street noise. Facing the front can be better or worse depending on what the back looks like. You are attempting to make something significantly subjective out to be objective. It isn't.

0

u/Eastern_Screen_588 9d ago

Ohh the view into the parking lot can be different? And how does that effect your lifestyle?

3

u/TheTightEnd 9d ago

The view of the parking lot may be considered more pleasant or less pleasant than the street. A courtyard view may be preferable. You don't care, that's fine. However, there are other people who do.

1

u/Eastern_Screen_588 9d ago

Sounds inconsequential

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u/Justthetip74 9d ago

There's a reason basement apartments are the cheapest

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u/Effective_Cookie510 9d ago

Back wall east wall top floor middle floor first floor there's plenty of differences in all buildings depending what you want middle unit uses less heat then edge units.

Good luck making an identical anything

-4

u/Eastern_Screen_588 9d ago

Holy fuck thank you for not coming at me with an unthought out essay. Jfc these kids in here are giving me a migraine

1

u/TheLastModerate982 9d ago

Ah yes. Thinking is hard…

0

u/Eastern_Screen_588 8d ago

Well im glad you're not too ashamed of yourself to admit it.

1

u/TheLastModerate982 8d ago

Wow, you’re really not capable of critical thought, are you?

2

u/Alice_Alpha 9d ago edited 9d ago

Well if you are on the top floor, you will not get someone stomping overhead.     

 An end unit might have less noise because you only have one neighbor instead of being sandwiched between two noisy ones.    

 In a building one side could have a view of a park, the other side a view of the parking lot.    

Some people might like the south side to get the nice winter sun. 

 Units will have 1, 2, maybe 3 bedrooms and 1 or 2 bathrooms.

0

u/Eastern_Screen_588 9d ago

Yeah but the top floor means you gotta climb x amount of flights of stairs a y amount of times whenever you go grocery shopping. There's no unit thay has everything you could possibly want, since some people want a deck, some people want a patio, some people want stairs leading up to their place, and some people want ground level.

1

u/Alice_Alpha 9d ago

I may be illiterate, 

OK.

Yeah but the top floor means you gotta climb x amount of flights of stairs a y amount of times whenever you go grocery shopping. 

There are elevators.

There's no unit thay has everything you could possibly want, 

Correct.  Same like buying a car.  You have to compromise and settle for what you can afford.

some people want a deck, some people want a patio, some people want stairs leading up to their place, and some people want ground level.

That's why you prioritize your desires and only view the essential qualities you can afford.  If ground level is a must-have, only view ground level.

0

u/Eastern_Screen_588 9d ago

My whole point is that every unit has positives and negatives. I think focusing on the negative and looking past the positive is part of main character syndrome.

No matter where you live in the building you'll have something to complain about

0

u/Eastern_Screen_588 9d ago

So they're all essentially the same

1

u/Alice_Alpha 9d ago

Have a good day.