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Since credit and money creation is privatised, it is only available to for-profit ventures. Good luck obtaining credit to build an apartment building, if all yo
by andrepd 4y ago
Since credit and money creation is privatised, it is only available to for-profit ventures. Good luck obtaining credit to build an apartment building, if all you have is a contract signed by 100 people promising to take on 1/100th of the debt.
- onlyrealcuzzo 4y agoReverse this - get 100 people to take on construction loans to bud a co-operative to live in, and then refinance after completion. You'll have no problems - except people don't want to take the risk of owning.
- zajio1am 4y agoHousing cooperative can just take mortgage for the building. That is commonly done here when apartment houses are sold as a whole. It is simpler to make one big mortgage for cooperative instead if 100 smaller mortgages for individual flat owners.