ST Alpha - "Why is that? I don't quite understand it. -- nm" (Reading a Post)

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In response to "don't know about NY, but in vancouver it's a lot cheaper to buy co-ops. -- nm" by mafic

Why is that? I don't quite understand it. -- nm

Posted by Subversive Jun 16 '09, 08:36

(No message)

Responses:

because you're not buying a piece of the building ... -- nm - Beryllium Jun 16, 08:37 14
- [deleted] 5
  - Whereas in a Strata, for example, you own a set of physical dimensions called a Strata Lot ... - Beryllium Jun 16, 08:39 3
    - heh. you own air, I own paper. -- nm - mafic Jun 16, 08:46 1
      - and soon, hopefully, I will own land. -- nm - Beryllium Jun 16, 08:47
    - [deleted]
  - but as a share, rather than a discreet section. -- nm - znufrii Jun 16, 08:39
- So all you own is the right to live there? -- nm - Subversive Jun 16, 08:38 7
  - technically I own shares in a corporation and lease the apartment from the corporation. - mafic Jun 16, 08:45 5
    - So it's cheaper because the pool of potential buyers is so much smaller? - Subversive Jun 16, 08:46 4
      - yep, and people that do have that kind of down payment can usually get bigger mortgages and buy bigger places. -- nm - mafic Jun 16, 08:48 2
        
        Right, shrinking the pool of buyers even smaller. - Subversive Jun 16, 08:51 1
        
        [deleted]
      - [deleted]
  - you own a percentage of the building. but it's run by the tenants not a larger company usually. you need a higher down payment usually - Andie Jun 16, 08:40

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