Who wants to rent? I imagine most would opt to own instead. Rent is certainly far higher than a mortgage would be, which makes little sense if you're trying to encourage ownership (as often is the story about the american dream)
- put up a ton of capital
- take housing price risk
- enter into a long term commitment
- deal with maintenance and repairs
- deal with selling my investment every time I move
And that includes me. I want to rent. I want the landlord to take care of all that crap for me. And I'm tired of all these people complaining about it.
A renter from a co-op, etc doesn't have to do anything for lower rent, more rights, options, etc, than another renter in the same city.
As an example, 30 year fixed rate mortgages are only a thing in the US because of govt guarantees.