Condo-mentum

Dec 3 2012 @ 3:40pm

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Emily Badger tracks the rise of multi-family properties:

One in five homeowners in American cities and suburbs now lives in a multifamily property. In the New York metropolitan area, that number is one in three, taking townhouses into account. In 1920, about one in 25 apartments nationally was owned; now it’s about one in four. Co-ops, condos and townhouse complexes account for virtually all of America's growth in homeownership over the last half-century (the share of American households in owner-occupied single-family houses has remained flat over all that time, at 49 percent; the national homeownership rate, meanwhile, increased from 62 to 68 percent).

Why don't we talk about condo ownership more?

Part of the problem, [Matthew Lasner, author of High Life: Condo Living in the Suburban Century] suggests, is that the trend is invisible. “You can’t talk about an architecture of co-ownership,” he says. You can’t tell walking by a building if the people living inside own or rent it.

(Image: partial view of "Pixel City II 01, 2012" by Atelier Olschinsky via Flavorwire)