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Housing America part 5: Cooperatives — taking the profit out of shelter

from By Lucy Wallwork

Housing cooperatives essentially represent the "third way" between renting and owning a property. This model once formed part of the bedrock of affordable shelter provisions in New York, but more recently has been rapidly disappearing. Often famed more for the celebrity interest they attract than their role in combating the housing crisis, some are now turning to housing cooperatives as part of the solution to the housing affordability crisis hitting many U.S. cities. However, while cities like New York have a rich history of cooperatives, they are often both misunderstood and overlooked. more

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