Is co-op housing making a comeback?
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- เผยแพร่เมื่อ 2 ต.ค. 2024
- Toronto has been making moves toward building one of the largest affordable housing projects in decades. The east end development will include more than 600 co-op units. Could the units, which are often more affordable than market-rate rent, be part of the solution to the housing crisis? We sent Talia Ricci to find out.
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I’d like affordable housing to make a comeback
Translation: taxpayer-subsidized housing.
@shauncameron8390 no, remove the overseas investors, flippers and big corporate investors who inflate market.
@@chinaarlene7035
First get rid of the rent control and bureaucracy that taxed and regulated the mom-and-pop owners out of the market in favor of those entities who can afford to put up with the government's BS.
@@shauncameron8390 lol get rid of rent control? Yea, sure that will help rates goes down.smh.
@@shauncameron8390 rent control has been shown to work if used on old buildings instead of new ones, and landlording is one of the least regulated industry's ever, just dont violate contract and adhere to certain health codes, codes that arent enforced they have to be reported.
I live in a 4 bedroom townhouse in a co-op in East Vancouver. I pay 1,950/month. I have lived here for 22 years and have loved every minute. It is like a village within a city. Co-ops remove housing from the equity market. I don’t own anything but I don’t owe anything either. I do have complete security.
Does anyone ever own their home? How do you handle optional renovations?
Useless for younger gens
@@chrish5479New co-ops will benefit younger generations. It's affordable housing. Whether or not younger generations live in the co-ops, it will free up more affordable housing options
@@chrish5479Why ? Many just rent anyway and never get to own a home. At least this makes it affordable!
@@zabmcauley5647 missed the point. These homes will never be built and co op living designed to keep the masses poor while owning nothing the wealthier benefit from it all.
Co-op housing is a tremendous option for ppl who are primarily interested in a stable, affordable housing situation without really caring about building equity or value but they can also be a huge boon to those who want to own a home one day. The significantly lower rent helps ppl save more for their down payments faster
thats what im thinking, rent in my mind should be a stop gap between settling down, whether thats moving to another city or finally purchasing a house. With rents as high as they are its impossible right now.
Knew a girl who lived in one in Edmonton in 2008. I was paying 1100$ for a bachelor, she paid 650$ for a two bedroom high rise overlooking the river …she had to sweep and vacuum halls once a month, that’s it.
Shows what is possible when maximizing shareholder value isn't the ONLY motivation.
Get the big corporate landlords off the stock market ... watch what happens.
@@Douglas_Blake_579 who said anything about the stock market?????
@@djsiii4737
You did... "maximizing shareholder value".
Most of the big landlords are now REITs trading on various stock markets and, yes, maximizing shareholder value is what they are all about... at their tenant's expense.
Search for "The 165 Ontario Story" ... you'll see.
@@djsiii4737 I think he's talking about the fact that in the US, some large investment corporations buy properties everywhere in the US at a high price only to rent them.
But this doesn't really exist in Canada, at least not in my province (but maybe it does in Toronto and Vancouver)
The "shareholders" are the residents of the co-op, the city, it's in, and everyone in the country. It helps reduce the "crisis management" mentality--don't do anything until it's a crisis.
Normalize coop workplaces throughout the country too.
And become another Yugoslavia. Mismanaged and bankrupt.
I agree.
Or Norway . @@shauncameron8390
yeah just ignore all the vast historical geographical and sociological differences, it'll totally be the exact same brah
@@johnransom1146
When Canada decides to do a major about-face on immigration.
Coop banking, credit union. Coop insurance, mutual insurance company, food cooperative not grocery stores, transportation cooperatives not private cars, etc. if we all did this and more there’d be no more greedy corporations left. Norway is a good example of cooperative everything
Just greedy governments and citizens.
As long as the borders are kept closed.
Aren’t you a ray of sunshine @@shauncameron8390
So a net positive, both those exist right now, what's your point? Utopia or nothing?@@shauncameron8390
💪
Ebay5288 why? What's wrong with them?
Coops are amazing im so happy to see the City of Toronto reintroducing them back. Millennials and Gen Z deserve this!
Yes segment the society into labels. Get lost
@@dashcan8479forget your meds today?
This is progressive government policy. And we need MORE of it! Homes should be primarily for living in. Not to make egregious profits from, especially to the detriment of all of those for whom home costs are running away from their budgets to handle.
Isn't it funny: housing is the ONE economic area where increased demand cannot translate to increased supply.
..it's not a finite natural resource, homes are manufactured and the demand by those whom want a place to live AND those who want Canada's safest investment vehicle shouldn't be the issue that it is to supply.
We're being pitted against each other on this topic as oppose to looking behind the curtain to see who is playing Oz.
Hey ... anything that brings rents back down toward reason is a good thing.
I live in a coop in NYC. I wouldn't want to live anywhere else. I don't need nor want any more space. I like that they have rules for all the owners and it's not "well, I pay my fee so I'll do what I want". It's very well managed even though we have had increases due to the increased cost of heating and some issues with the aging pipes but even with these increases, the maintenance fee is less than half of any rent for a one bedroom apartment in my area (or any parts of NYC for that matter). It's close to transportation and parks. Like if I move, its going to be to another apartment in the building. And even better, investors aren't allowed.
Co-op living can be fantastic, or it can be a disaster when you get a retailative/punitive Board. There is no external oversight for recourse if mismanagement occurs. There are gaping holes in the Ontario Co-Op Act that make holding decision makers(the Board) accountable almost impossible leaving the doors open for malicious incompetence.
I PSWd at one where the bathroom fans were never installed in working fashion but were ‘to code’ and never were fixed, no fan in cooking area or oven. The elevators were sometimes both broken, in a 14 story housing elderly, youth, and people from the disability community. No air con, and the windows don’t open. Depends on who’s making them and what oversight and accountability there is, this one was built in the 90s.
Very good point--absolutely needs to be addressed if co-ops are to contribute to the elimination of the housing crisis.
They supposedly changed the law in 2012 to bring co-ops more in line with regular tenancy scenarios to give co-op renters rights like those who rent from a landlord. How'd that turn out? 🤔
Still wayyy better then a leech landlord, screw landlords to hell.
More of this, please.
This is what we should build on the parking lot of South Keys stripmall.
Co-op living is one, very important solution to the housing crisis. But it does require people to work together. A set of Bylaws that stress efficient operations, mutual respect, as well as involving everyone in the smooth running of the co-op is essential. It also helps to hold frequent elections for board members so that everyone is involved in co-op management. A co-op is as strong as the level of cooperation among the people it houses. People need co-ops, but co-ops need people to run them. I've lived in a small co-op for 16 years.
The government doesn’t provide $ to operate the coop, the government allows the coop to be built (zoning etc), and can provide the loan for building / setting up the coop. It doesn’t subsidize the coop at all.
Housing should not be allowed to make dumb money. Using land to exploit people is disgusting. Mortgage rates should never be below 7%.
Property taxes should never be below 2%.
@@JohnDoe-my5ip,Sure, unfortunately our GDP is still based on home sales ,than nothing new will be built 😅!
Those of us who work everyday to pay our homes shouldn’t subsidize your expenses
People who live in co-ops pay taxes too that go to subsidize the city infrastructure that supports your home.@@meep2253
Like Cuba?
We definitely need more Coops! I would love to live in one, way better then soulless suburbs
It's a good solution for some, but not all. Since tenants/members have to participate in the running and maintenance of the co-op, people with disabilities that make it impossible to do so, are denied spots.
Do you have access to some statistics that show people with disabilities are represented at lower percentages in co-ops than in other forms of housing?
@@Benson_Bear I have my own experience of calling five different co-ops and being told by three that because I couldn't contribute (because of my disabilities), I couldn't live there, and not having my repeated voice mails to the other two, returned. I wouldn't know where to start looking for stats.
I lived in a co-op and they definitely denied membership to anyone too elderly or disabled to do their cleaning tasks or participate in committees. Co ops can only function if members participate. I'm not sure this would be considered discrimination from a legal perspective but in some cases i felt like it was unfair.@@Benson_Bear
@@r.1599So you want to be a part of a co-op but not actually help out or do anything? I’m sorry you’re disabled but that doesn’t seem reasonable to me. “Let me live there for cheap, but I can’t contribute or participate in anything because my legs don’t work, damn it!” That’s the whole point of a co-op, contributing and participating in the community. It’s not just so you can have a cheap place to live.
@@r.1599So you want to live in a co-op but not contribute or participate in anything? That’s the whole point of a co-op. It’s not just about having a cheap place to live. It’s about contributing and participating in the community. Did you offer any suggestions about how you could contribute to the co-op in other ways that’s within your means? If you didn’t, that’s why you were denied. You wanted to live there only because it was cheap and not because you wanted to contribute to the community and make it a better place.
Brian Mulroney screwed us in 1992-93, that's how long this crisis has been growing and it wasn't great to begin with.
No. Jean Chretien did.
Bought in by Mulroney and perpetuated by every PM since. Neo-liberal economics made taxing the rich and spending for the common good political kryptonite. We’re seeing this play out at 24 Sussex, under-maintained since Mulroney.
Gotten even worse. Not only are the rich not being taxed properly they’re getting subsidized. Stellantis. Bombardier. Oil & gas get a pass on abandoned wells and tar-sands emissions. Forestry has had ridiculously low stumpage fees forever. EI and universal healthcare are effective subsidizes for businesses.
@@shauncameron8390 Here we go. My team vs. yours. Then cry when the country falls apart.
@K.C-2049 Liberals passed rent control in 1985. Bob Rae expanded it it in 1992. Rental housing construction crashed around this time. Mike Harris moved it out of court into Landlord Tenant Board and amde it easier to evict. 2006 McGinty tightenst things back up again. 2017 Wynne makes it even harder to evict. Now Ford does nothing to fix it so yes both parties are repsonsible though mostly Liberals IMO. Municipal gvoernments also go out of their way to make it slow and often impossible to build rental housing. Trudeau does the same.
They say there are challenges to living in a co-op but don't say what those challenges are. Would be nice to explain both sides of the coin to help people truly understand if going through the process to hopefully get a spot, would be right for them.
Why do we not have these co-ops everywhere? … 🤦🏽♂️ get it together government
A good thing happens and you're bitching about it? Do you also go to the gym and tell newbies to get it together and grow some muscle?
You’re right! We need lots of them.
Maybe in English Canada, yeah! Quebec has had co-ops for a while.
We’ve had them too. Rochdale in England was the very first
That's what I was thinking too
I think that the area beside the St. Lawrence Market in/near Downtown Toronto is (David Crombie Park, I think).
@@EmelyPhanthere is a combination of coops, condos and Toronto Community Housing.
Québec has relied on co-ops heavily in the past and this segment's sole focus on Ontario really confused me therefore. We in QC were especially strong on them in the 70s and 80s, ie the same pattern as described in Ontario, but more so. We were not first in Canada in this in some way though, just more into it.
I’m not against co ops or affordable housing but I am disappointed in some people who attack homeowners who only own one house by trying to increase our property tax for their benefit. Go after corporations and hedge funds who buy hundreds of homes at a time but not the little guy trying to just pay off their residence.
Tax rates need to go up yeah but a lot of companies moved out of downtown cities or cut their office space over the last few years.
Leaving home owners to eat the costs of everything in property taxes. Calgary has been floating around a 30-35% vacancy for just about 10 years now.
on a list for ten years, the system is disgusting thru and thru
Just like public housing.
The state owned media is telling us that Co-ops are making a come back, while only showing the one and only project being built in Toronto. This news story smells to me like state propaganda.
I see the message is spreading....what I stand for ❤❤
CO-OP's are great for the lucky chosen people that get to live in them. Good if they are managed well, but too much focus is on keeping the rents low and many aging co-op at least in Vancouver are falling apart due to deferred maintenance.
Totally agree - when the focus is on keeping rents low then it becomes an issue with upkeep and maintenance
@@Parischick11
Just like public housing and some really run-down private housing.
Co-ops are a good model but I don't think fully public housing should exist@@shauncameron8390
@@Parischick11 Maybe rent out market rate retail space at the bottom of the buildings and use it to subsidize maintenance? Like monthly rent and a small % of profits from big box stores like Walmart, Target, Home Depot or whatever stores y'all have in Canada (sorry I'm in the States).
@@duckmercy11 We have all those except Target they left. Box stores shouldn't and certainly subsidze anything. Rents in any building need to meet and exceed operating and maintenenace expenses. Our government housing, like yours, where welfare cases pay very little or nothing for rent as a complete shambles and often dangerous.
I think CMHC should coordinate across the major cities a centrally-planned apartment housing design, mass-producing 6-storey and 18-storey prefabricated concrete panel buildings with about 27 m^2 (300 ft^2) units, leaving the exposed concrete without further finishings, without balconies to reduce expenses. Build them as condominiums in park-and-ride lots immediately adjacent to rail transit (commuter rail, metro station), thus avoiding the need for parking, and sell them at a fixed price of $65,000 per 1-bedroom unit or $80,000 per 2-bedroom unit. But it has to be built on the scale of about 2 MILLION units to (1) be cost-effective to build for this price, and (2) to create enough supply to compete and push down house prices overall.
I like the energy but we should be focused on building homes that people actually want to live in. 300 square feet is tiny and no one can raise a family in that. If we want this program to be popular we need to build good homes, even if it means adding some inefficiency.
@@Gernanza As a single working adult with no children, I am living in a small bachelor apartment, and 300 square feet is all the space I need. I know many families with children in Poland living in apartment blocks with 3-room (2-bedroom) units, and is totally normal. But when I lived in various cities in Canada, I was forced to rent 1-bedroom apartments double that size as bachelor apartments simply didn't exist, or there was a waiting list for them. Designing every house for a couple with two children doesn't fit the needs of everyone either. House sizes have gone crazy in recent decades; many houses built from the 1940s to the 1970s were less than 1000 square feet (90 square metres), and lots of families were raised in those.
@@Gernanza I actually kinda agree with what A Canadian in Poland said. For a lot of people they just need the bare necessities to get off their feet and start saving. In places like europe and asia its very normal to have smaller apartments. 300 ft^2 units are definitely enough for a single working adult. Especially if you are in the city and a lot of your amenities can be found outside of your building.
They'll lose money like mad. Anything the government builds will cost far far more than it it should. Nevermid getting approvals etc.
Time to de-commodify housing!
not just lack of supply, more like blindness to money laundry
Love how they are converting parking lots into housing. Other cities in GTA and throughout Canada should take notes and implement these.
Sorry, I didn't understand - who builds (provides) these buildings for cooperatives? Is it a kind of social housing built (paid for) by the government and then rented to people who can not afford private renting?
In NYC, these types of co-ops were called Mitchell-Lama buildings, established in 1955 and signed into law by then Mayor Robert F. Wagner. Over 5he years, many have opted out by vote and have gone private. There are a fair amount left, but are always under threat because of greed. This is the only sensible middle income housing plan, and more should be built or converted from other types of housing asap.
I grew up in one before my parents bought a house, it was great. The community aspect alone for kids was beneficial. Forty years later and the townhouses still look so upkept and loved.
We have this in NYC. I too look at market-rate apartments and wonder about who actually lives there!
Those who have well-paying jobs and/or side gigs.
@@shauncameron8390 and 25 roommates
Now, can anyone here please tell me which political parties support funding for social housing like this? Just asking because there's one particular group of people who takes the time to come to the comment section, but usually has no ideas of their own, just bashing the main party that supports the people.
,
At the expense of other people.
@@shauncameron8390 I didn't know that public housing and government support meant that rich people had to lose everything. Can you please tell me more?
@@firefox39693
Rich people as in those doing a tad better than you being forced to subsidize the rents of those who either cannot or will not get their act together?
i grew up in a co-op, i regret ever leaving the system.
Expat 🍁 retired lives in Colombia 🇨🇴
2 bedroom apt great location $450
All in food entertainment etc high quality of life $1400 US
Canada 🇨🇦 are you Kidding 👎
lets hope the expat has lots of insurance for health $$$$$$$$$$$$$
Lived in a co op for 3 years before leaving to buy a place. It's a good option for many people. Yes there are problems same as any other kind of housing, but here in Vancouver we desperately need options especially for young people and those who don't earn six figures or higher per year. Co ops require about 10 hours of participation per month on average so calculate what you would earn at your job working that much and add it to the monthly housing charge to judge if it's worth it for you. But co-ops have other benefits to consider as well such as short-term subsidies (for members experiencing temporary financial hardship such as job loss). There are also long-term subsidies you can apply for but usually the wait lists for those are many years. Most co-op members receive no government subsidy. The short-term subsidies are from a contingency fund and not government, but I'm not sure about the long-term subsidies.
I love my co-op. It’s 45 years old, and really solidly built. Because we have a financially very healthy co-op, we have recently replaced the roof, all the windows, and now all the bathrooms and kitchens are being updated. I pay $1350 in downtown Toronto for a two bedroom, and that includes all utilities, unlimited high-speed Internet, and a fantastic Rogers package with PVR. It’s the best kept secret in the city but it shouldn’t be…and the problem is all the waiting lists are closed. We need many, many more co-ops.
Good job on building these homes in Canada and the United States and the United Kingdom
I'm really interested in this but do they allow you to have a dog 🐶🐕? Thanks
Living for cheap in a coop and buy investment condos👍👍
Nice. As long as they don't turn into crime infested prjects and the people moving in are actually properly vetted, then it's a good idea
That's city housing.
What a fascinating concept
Please do a story on Montreal co-ops!
They never left New York City. The most affordable way to own a home here.
ah but rent is still too high .....1800 for 2 bedroom is too high they should be more like 900 dollars ......lol
Statscan says affordable housing is 30% of pre-tax income.
30% of pre-tax minimum wage in Ontario is $866.60 per month, presuming that earner is afforded 44 hours, which none are.
More like 37.75, because 38 is full time, meaning full time CPP and EI contribution from the employer. They're more than part time EI and CPP contributions. An incentive to not allow 38 hours to be reached, even if it costs productivity.
For 2 bedroom, It should be $500 or less because anything
above 400 for rent is basically throwing money away unless if the landlord needs residents' s 1k to pay landlords loan back for the apartment project and decide to go back to lower rate or price.
@@prashnaveetprasad8339your math doesn't "math"! 🤦🤯
This always worked out especially for low income Americans because it gives them an opportunity of stakeholdership in their community and their children can have some type of benefit of them paying the monthly amount after they pass.
Better for these Home Units be on Link-Inroads of City Regional Limits.
What about public housing? i forgot all our politicians own real estate portfolios so don't hold your breath.
They should! Lived in a co-op for 2 years. Absolutely amazing loved it. Being part of a community
If it was so amazing, why did you leave?
@greatgecks2256 got a big promotion and I was paying 700$ for a 2 bedrooms big appartment. Huge waiting list of families and people that needed the appartment more than I do. I felt I couldn't accept to pay this low a rent, when more people were in need. So I moved. Still in contact with my old neighbors
Do we have a choice? Same with the mini-house trend. Hate it. I need space.
They look very nice
ONLY 1.......😢😢😢😢😢😢😢😢
As long as people take care of them and are regularly maintained
Pls come to USA
I hope so
Coop housing is great, especially for new comers who are trying to start a life.
But as people build a life, they should move upward and onward. Many people start by renting, then a condo or town home, then detached etc…. When a person stays in a coop unit for 40 years, it takes away the start up opportunity for the next generation. The idea of having 3 generations of the same family living in the same coop isn’t what the coop is for.
Mayor Chow is a socialist and doesn’t see the issue, as she and her late husband lived in a coop while she was a city councillor and he was an MP, and Chows mother lived in another unit. They had enough income to own a home, yet they wanted to take more from taxpayers…instead of freeing up their unit for a single mom or new immigrant family who may be struggling to pay market value rent. Shameful.
Im shocked why such a beautiful concept was never invested in since decades…
What is the beautiful concept? Pay 1/2 of your salary, only for housing, while owning nothing?
@@enovationsgr the beautiful concept is working together, and as for owning nothing, the lower costs free up your capital to spend however you want (save, invest, purchase, lend, etc).
@@enovationsgr Half your salary??? lol $1100 a month???
its too late
Thinking about moving to the Los Angeles area and was surprised that Co-ops are a possibility.
Thank goodness, because those rents 🤯
All due respect, unless you’re making $100K a year minimum, don’t move to the LA area. I live here. $3040 rent right now. You won’t be able to survive, and the grass is not greener than a small town.
But imagine if you live in a coop building for 30 years, it is basicily rent until you leave. If something happen and you need to leave the building, you have zero equity built.
But you save easily save hundreds of dollars that would have gone toward mortgage interest. You can invest that money instead. Some people are losing money on their homes especially with current interest rates.
You save money dingus
Groovy Pants!!!
Cooperative model.
Thank christ
Damn, anything less than a $1000???
No
Not in Toronto.
This could be one part of the solution, but it does very little without a drastic reduction in the number of people we are welcoming into the country at a record-breaking rate.
The can do that when we all have 5 children and work 2-3 fulltime jobs.
Don't worry, they're not stopping the infinite students flooding in from that other county that has 1.5 billion people still left to spare. And now that the ones who started pouring in a decade ago are getting citizenship, they're getting super-visas to bring their families over too, so you'll get your wish soon and Canada will have 200million people within a couple of years and you can rename your county to New India. 👍
ok...... but you're building no equity, so that's a big tradeoff. Lower monthly payments, sure, but zero equity......don't see the appeal.
❤❤❤
I don't get how this co op happens: the city/country owns the land, and it's not like the residents built it with bricks & mortar. How is that different from regular city housing?
Not always, but typically Co-op is meant be directly paid “at-cost” so there is no profiting from the property,and the members of the community has voots on what happens with the land and property. Whereas city owned housing may be used to collect additional city income, and is likely far less long term for the residents.
Why would the government fund (actually taxpayer fund) to maintain the building? No one gives me money to help maintain my home, no anyone else. What makes these building special that they require taxpayers to help fund them?
this is co-op housing not subsidized housing, no gov money, they are just not treated as commodity
@@josephdarchambault6264 Did they not say in the piece that they get 1.5 million in tax breaks plus no PST?
Maybe I heard it wrong
@@bubbajay1934 from a mcleans artical some years back, mulruiny pulled the plug back in the early 90's- : It's not just the federal government that's passed the buck on affordable housing. Over a number of years in the late 90s and early 2000s, the Conservative government in Ontario, under Mike Harris, passed the file to municipalities to manage.
"Devolving responsibility in itself is not a problem," said Murtaza Haider, professor of data science and real estate management at Toronto Metropolitan University. That is, of course, "if it is accompanied by giving more resources," he said. And according to Haider, that hasn't happened.
"Responsibility for social housing ended up with local governments despite their severely constrained revenue base," he said. "Municipal governments get 10 per cent of the taxes we pay. 90 per cent of our taxes go to the feds and the provinces."
@@josephdarchambault6264
< mulruiny pulled the plug back in the early 90's- >
Actually it was Chretien who pulled the plug.
@@shauncameron8390 And I was hoping you would do some research and come back with the correct answer, your half right, yes custatian continued with the policy's that mulruiny started. Thats when the libs adapted a more libertarian economic ideology, much to my shagrin. But thats the beauty of democracy, for my whole life, I'm 70 yrs old not sure if I mentioned that to you, been responding lots lol, so for my whole life both parties have had about equal amounts leading the country, so to blame one party over blaming the other party is moot.
About time!! This makes me hopeful. I know people who live at Bain Co-op and they love it. Really nice units; good community. We need way more of this kind of housing especially at this time of crisis. Housing crisis. Rental crisis. Food insecurity. Rising cost of groceries. Rising cost of everything! Very sad times. This story is a bit of light in otherwise dark times. Thank you, Talia Ricci!
Yup, "The cooperative component, the cooperative model is an important component of that strategy." Associate Minister of Housing Ontario.
Knows it's where crime wants to be and doesn't care.
The only downside I see to the whole Cooperative method of housing, is that you don't own it outright. It's literally just still renting. Not to knock it on those who it works for. All the power to them. But I want to see solutions that result in proper ownership moreso than just a new way to rent.
I don't need much in regards to visual style, appeal, or even size of a home. I just need 4 walls, a roof, a couple separate rooms for an office and sleeping; along with a kitchen and bathroom. I don't even need a living room, one of the most wasted spaces in most homes that don't have the families they were originally intended to house. In basically any rental situation I live in where it's a converted house, the living room always becomes "everyone's", and thus no one uses it except maybe one person. Why?
Too much trouble otherwise having all those people interacting in a single space all the time. A space that normally would be ones own with the rest of the home, when not renting.
And those who paid attention to the old guy in the video, will notice that he's alluding to exactly these kinds of scenarios though the atmosphere/environment of the situation may change.
And yeah, it can be a rich experience. But some of us prefer our homes to be a place of solitude and peace, at all times; because everywhere else is not kind of deal. Kind of hard to get that with co-habitation of any sort.
Again, not knocking down on the solution itself. It is a solution that will work for many folk. Heck, even I might make use of it at some point if need be. But if we are going to fix this properly, we really should be looking at ALL the options. For instance, things that aren't glorified condominiums.
These people think money grows on trees and that the government is a limitless source of subsidy. If everyone in the country aspired to live in subsidized housing, there would be any property tax to subsidize the government. The only solution to generate funds to support a country of subsidized housing would be commercial taxes, retail taxes…Chow already wanted to impose a city sales tax.
So cheap subsidized housing will lead to inflated cost of living due to more taxes just to support the housing.
So a few people get the benefit of the city giving them resources and the rest of the people in the city pay the price. I assume there will be a long waiting list.
Ughhh what the hell are you talking about, read up how COOPs work
So, will these be built for all those refugees? That would be something to see.
I don’t think co-ops really fit with the demographic anymore I think we’re too self-absorbed and I don’t think that this model in places like Scarborough or Toronto, will work with the demographic of people that are looking for affordable housing. And I think it’s just going to open up a whole can of worms because we don’t have the mechanisms as a few commenters have pointed out. Think about it this way look at the existing problems we have with townhouse complex you don’t see those being built anymore they’re all freehold . townhouse complexes which is essentially co-ops with the only difference being You do not have equity, so why build co-ops why not build community apartments that are better regulated, and have better oversight for the demographic of people.
Who builds them and why? I don't understand the economics of these.
Heavily subsidized by government so people can have cheap rent.
Nobody builds them. They don't make money or equity, so they don't get built. They only happen when the government throws money at them, like between the 70's and 90's, so yay you get to subsidize housing for someone else, isn't the government so great
It was a bismal falure because the houses were never maintained.
Sounds like communism USSR
I'm from Vancouver and we've had co-ops forever , if you want your child to OD and become an opioid statistic , raise em in the co-op.
BS
you grow up in the co-op? How're all the kids doing over there
lol I would say if you want to see polygamous parents or kids wearing homemade clothes thats more the co op vibe hahaha
I live near the community shown here on CBC. It is a co-operative nestled in one of the most expensive neighborhood enclaves of Toronto. The co-operative is VERY nice. Every time I walk by with my coffee in hand, I only wish I could live their at the rent they pay. Sad to hear Vancouver is different.
Or you could raise them correctly.
It is if you want to live off the backs of others.
Chances are if your in a co-op you are going to be poor your whole life
Why?
Investing in real estate should not be the sole strategy for wealth accumulation, this is why our county is so broken
Chances are if you're poor a co-op is your best option by far
Slavery looks very unappealing.
I'd like to buy some land.
How you gonna make that affordable?
22 meter by 18 - 24 meters.
Not that much to ask.
It's a bad idea if it is.
There is no better place to create a criminal underworld, than in private villas directly aimed at the poor.
My city (in BC) approved a coop on land designated for agricultural use, re-zoning it from agricultural to high density ! So wrong. Average lot in our neighbourhood is 1 acre and now we will have 36 coop units on 7.3 acres as neighbours. Ruining the neighbourhood. No thanks coop.
Oh no, not the financially sustainable neighbours to my single-family sprawl!
@@ramzanninety-five3639
Co-ops are not that financially sustainable without government subsidies.
NIMBY…. Don’t know where you live, but in Richmond BC, many people bought ALR sites not even for farming, but built mega mansions, some even used as hotels or small business conventions…
@@shauncameron8390 more so than single-family suburbs that cannot even pay for road maintenance without cash injections
@@wc4109 and mostly chinses investors
And what is 1.5 billion dollar cbc doing to help? These reporters get 14 000 dollars in bonuses each year. When was the last time you had a 10 000 dollar bonus? Never.
Do you need a hug?
What was the point of this😂journalism is how we keep those in power in check, the more journalists the better
If you two think that cbc is journalism, and that they are keeping the guberment in check, you are THE problem. I do not need a hug, but thank you for asking.
@carterdeyoung1060 The point. Good question, I didn't even watch the video. I look at the odd cbc video, every now and then to see if comments are turned on, or off. Ever notice they don't enable comments on some videos?
Ever wonder why?
Would you be shocked to learn that half the stuff they tell you is a lie? It's called a program for a reason.
@@charlierich9840oof, not the brightest, eh?
Something not mentioned is the fact that, Bain co-op at least, is isolated and apart from the "housing market", and so not affected by current real estate madness.
Unless the province decides to cut subsidies.
@@shauncameron8390 What subsidies is Bain Co-op receiving exactly?