Housing Inequality in AmericaMain MenuThe Generational Illusion: An EssayAn Essay by Collin AndrewsEnvironmental Racism: How Residential Segregation Shapes Environmental InequalityHistoric Preservation Coast to CoastTitle PageNative American Housing: How Poor Housing Harms Indigenous HealthHow Poor Housing Harms Indigenous HealthPets & Housing: It's "Ruff" by Katie ClineHow NIMBYism Exacerbates Housing InequalityWhere's the Wealth!How Housing Discrimination has led to racial wealth inequality in the United StatesImmigrant Housing Inequality in AmericaIswat JinadSurveillance InequalityAn investigation into how poor communities are oversurveilled creating a cycle of more targeted and aggressive forms of surveillance for them and those around them.Post-WWII Urban Flight and the Birth of the SuburbsHousing Discrimination in Suburban AmericaRace, Repressive State Apparatus, and Homelessness: From Colonialism to COVID-19Tina NandiHousing Inequality and Access to Quality EducationMQ: Title PageVisualizing racial housing discriminationSplash page for path that includes interactive resources regarding racial housing discriminationProject information and creditsAndy Schocket278555063cc66428c8eadf42f48d412091c5aaf9Melissa Laddab8653014603439710b65435181f2130cee53400Andrew Bartelc9a57442f34fea7858b734ce98f4ec79bd5565b0Collin Andrewsf69afa6ae7fb0f33058b9e0cb476f7451a667cefTina Nandi6e38643c2c1510534cce4e954f0eeb8108bce699Iswat Jinad196dd805bf51f7a46fbf2d94ab069e97fc004d75Marcus Harris7e23857364c2363b25872718aea81323bdd37773James Cousinoe9398a1542d344c824ddaaf967819ae589cd2b61Katie Cline512add1943f75cbd770d4788dcdea90b706922c4Trisha A Bonham7fa13b399c9331700d719225b96f3bf9e54c4570Rene Oswald Ayalac01cc7385c24c3926f2f03a40860f6a4f703f410Kristine Ketel826fdfc33a24cff2c1e0ab79396dd2ae2bae3ed9Morgan Quinleyc8a47798c223cced64347bc9a7d80f6a64402e45
M_H Co-op citation
12022-12-06T16:22:12-08:00Marcus Harris7e23857364c2363b25872718aea81323bdd37773412371plain2022-12-06T16:22:12-08:00Marcus Harris7e23857364c2363b25872718aea81323bdd37773Donofrio, C. Realtor.com, "What Is a Co-Op? The Benefits and Drawbacks to Cooperative Housing." November 5, 2022. https://www.realtor.com/advice/buy/the-basics-of-co-op-housing/#:~:text=A%20%E2%80%9Chousing%20cooperative%E2%80%9D%20%28or%20%E2%80%9Cco-op%E2%80%9D%29%20is%20the%20legal,of%20directors%2C%20and%20each%20resident%20is%20a%20shareholder.
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12022-12-02T06:48:26-08:00Home is Where the Heart is11plain2022-12-09T09:35:58-08:00 In Erie County, OH, host to my hometown of Sandusky, OH., African Americans, and White-African American multi-race residents make up 11.3% of the population, yet they only make up 2.9% of owner-occupied homeowners and comprise 20% of renters. Understanding that 91% of the African Americans that live in Erie County live in Sandusky, we have a great opportunity as City government to impact Black wealth accumulation locally. My community of Sandusky, OH has 21.1% of its residents living in poverty. Of those living in poverty, 66% are people of color (U.S. Census, 2020). How could access to affordable, owner-occupied housing help reduce that number? Investing our resources in a Community Development Corporation (CDC), or housing co-ops could help make housing more affordable, and still allow for some level of home equity.
CDCs are non-profit organizations whose focus is on community asset building at a grass roots level. The primary tool utilized in this case would be housing development and management, with some elements of economic development, social services, workforce training and financial literacy services (Smith, 2003). CDCs partner with county, and city land banks, to purchase distressed multi- and single-family properties and rehabilitate them for sale or rental. These nonprofits utilize financing from tradition lenders and have access to Community Development Financial Institutions (CDFIs) that specialize in lending in high-risk areas and communities impacted by discriminatory practices of the past.
A housing co-operative, or co-op, is a housing unit that is owned and controlled jointly by a group of people who have equal shares, and occupancy rights to the housing. A co-op as a legal entity that has its own board of directors, and each resident is a shareholder. A co-op shareholder does not "own" their respective unit, they own shares proportional to the size, desirability, and amenities of the unit. They come in three forms. Market rate, meaning shareholders can sell their shares for whatever they want, to whomever they want. Limited equity, which puts a limit on how much equity shareholders can earn on their homes so that they cannot sell them for large profits. This type is usually geared towards affordable housing. The last is group equity co-ops, which members do not accrue equity in their homes, but they pay below market rental rates. Below is a video describing housing co-ops in Canada.
