scar_resident
New Member
That's because co-ops are not for profit housing. It's not different from how a rental apartment works except that no one uses it as means to get rich.
If well-to-do people were more willing to live in co-op housing, average rents in the GTA would be much lower than they are today. We would all benefit, and at virtually no cost to the government.
If I told you a bank VP was living in co-op housing with a 10 year wait list paying $900 a month rent for a 2 bedroom (market rent)would you feel the same way. (some details have been changed to protect the person's identity.)