Owning part of a larger building is actually much more complicated than simply owning a house. I’m not sure everyone would actually want that even if they could buy the unit they live in at a low price.
I almost bought a condo in a multi-story building a couple of years ago and I’m glad as hell I didn’t. It was a one-bedroom unit for $125K, which is fine except that the monthly condo fees are $1000 (which includes utilities, at least), property taxes plus insurance are another $400, and the last three consecutive years residents have been hit with a special assessment of about $10K - which means I would have been paying around $2500 a month to live in a one-bedroom apartment that I’d already paid $125K for.
Owning part of a larger building is actually much more complicated than simply owning a house. I’m not sure everyone would actually want that even if they could buy the unit they live in at a low price.
I almost bought a condo in a multi-story building a couple of years ago and I’m glad as hell I didn’t. It was a one-bedroom unit for $125K, which is fine except that the monthly condo fees are $1000 (which includes utilities, at least), property taxes plus insurance are another $400, and the last three consecutive years residents have been hit with a special assessment of about $10K - which means I would have been paying around $2500 a month to live in a one-bedroom apartment that I’d already paid $125K for.