Re: “Save subprime borrowers, not bloated bankers” by Dean Baker
On Aug 23, 2007, at 10:53 AM, Wojtek Sokolowski wrote:
I quite honestly believe that the popular resistance to this form
of housing is psychological rather than systemic. Most people I spoke to on this subject were not swayed by financial arguments, but instead they
said they preferred the comfort of individual ownership, even if it was a more expensive option. It is not a coincidence that coops are limited
mostly to ethnic minorities (especially Jews and Blacks) who internalized the
norms of social solidarity to a greater degree than a typical WASP.
Is this a limited equity co-op (i.e., holders can only sell back to
the co-op at a price reflecting only inflation plus improvements,
regardless of changes in surrounding market prices)?
Doug