Thumbnail Image
Publication

Condominium and Cooperative Housing: Transactional Efficiency, Tax Subsidies, and Tenure Choice

Hansmann, Henry
Keywords
Collections
Faculty Scholarship Series
Show all metadata
Files
Thumbnail Image
20JLegalStud25.pdf
Adobe PDF, 2.3 MB
Abstract
Twenty-five years ago, cooperative apartment buildings were uncommon in the United States, and condominiums were virtually nonexistent. Since then, however, both forms, and particularly condominiums, have spread rapidly through the real estate market. This article explores the factors responsible for this development. In the process, it also assesses the relative transactional efficiency of consumer ownership and investor ownership in multiunit housing. I argue that two factors appear principally responsible for the recent spread of cooperatives and condominiums.
URI
http://hdl.handle.net/20.500.13051/4575