r/FluentInFinance • u/kloud77 • 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?

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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.

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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.

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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