> “Neither cooperatives nor the city typically sell flats. Mostly because …they really love recurring revenue and absolutely would hate to deal with short-term income as they are generally non-profit institutions.” (My emphasis)
FWIW that was a bit misleading, the goal of the city or the non profits (Genossenschaften) is to provide housing, not selling flat. (There's a goal that 1/3 of all housing in the city has to be non-profit by 2050, this was voted back in 2011)
> "...the goal of the city or the non profits (Genossenschaften) is to provide housing, not selling flat."
I can only speak for NYC and the efforts here. We have a dog's breakfast of different efforts--housing lotteries, Section 8, and programs for down-payment assistance to buy a home for first time home buyers. I made use of the last program, having had no success in the first for the past 13 years (I've received probably 3-4 letters from different lottery programs saying I was moving up in the program, but they always fizzled out).
> "There's a goal that 1/3 of all housing in the city has to be non-profit by 2050, this was voted back in 2011"
This sounds like a remarkable program. I wonder about these non-profits. Who runs them, how are they governed, what is their measure of success (since it's not monetary), and how do they measure it.
Yes. Thanks for pointing this out. I was hesitant to keep it in the article too as it's a bit too much of a simplification since I pool in different actors like Baugenossenschaften, the city and e.g., pension funds together. Further analyzing would have indeed been better but I wanted to keep it compact.
Yeah, it felt a bit weird to me since if anything to reach the stated goals they need to buy a lot more land/buildings. (The recent failed cantonal initiative would have helped them)
FWIW that was a bit misleading, the goal of the city or the non profits (Genossenschaften) is to provide housing, not selling flat. (There's a goal that 1/3 of all housing in the city has to be non-profit by 2050, this was voted back in 2011)