this post was submitted on 06 Sep 2023
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Condos and Housing coops go a long way I think to reduce some of the pain points most people have had with apartment living. The issue now is that most people are comparing owning a home where you have a lot of control over your circumstances and price stability, vs having a landlord that is doing the minimum and raising rents every chance they can. If apartments were built for people, and not landlords would they still have cramped hallways and balconies, would they have poor insulation and sound proofing, would they have old noisy AC units, etc, etc. The thing is, even in cases where people do choose to not have an amenity, people still had the choice.
Whole system in the US is fucked.
In my country, there's no distinction between apartments and condos or whatever you have in the US. An apartment could be owned by anyone and that person can choose to live in it or rent it out. Institutional ownership of entire apartment buildings DOES happen (legally nothing is stopping you from doing it), but it's not super common. Most companies prefer to get their quick buck out of building the place and then selling the apartments. And bailing on you before the warranty is over lol