|Re: A waiting LIST or a waiting POOL?||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Tue, 26 Jun 2012 08:55:22 -0700 (PDT)|
On 26 Jun 2012, at 11:34 AM, Don Benson wrote: > Suggest you might be at risk in "choosing" in that activity can be > interpreted in a variety of ways. Since the '60s choosing seems to be > singularly seen from the outside as thought of as a way to discriminate > against those that are not the norm, as in race, sexual orientation, etc. I agree. The idea of it is sort of anti cohousing. In a conversation off-line, I learned that this is a coop structure in which the members do in fact approve the purchaser. Owners only own shares in a corporation-like legal entity that actually owns the property. Ownership of shares comes with the right to occupy an apartment. Many more things are under direct control of the coop than in a condo. It is almost impossible to enforce fair housing laws in coops, for example. They never have to give reasons for refusing to sell to an individual — any many banks won't finance them. Since many banks have large depositors living in coops, however, the wealthy coops have no problem. It helps to understand the difference, I think, if you know the history.Manhattan still has a huge number of coops. In the early part of the century huge social changes took place and after the Depression many family fortunes were lost. The huge palaces were no longer sustainable as single family homes. Sharing one's home with strangers was obviously unacceptable and they were not always divided into separate apartments, though many had already been occupied by extended families and had wings for individual families. The solution was forming partnerships with friends and acquaintances of the same social class. Servants might also be shared allowing them to be kept. Many coops continue to limit new sales of shares to the "right" people. One common rule, for example, is that owners may not mortgage their shares, or may only mortgage a certain percentage like 40% of share value. Shares may never be advertised as available or only sold through certain brokers who only propose the right kind of people. (Watch HGTV.) So as a coop, this cohousing group will be facing questions that condos can more easily steer clear of. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- A waiting LIST or a waiting POOL? peterpiper, June 26 2012
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