People think it’s so easy. Someone buys their NYCHA apartment as a co-op and immediately has to spend 15-20k getting it up to code. And then that “co-op” is immediately worth several hundred thousand if not a million and they refi it to the max and wind up in foreclosure the next economic hiccup. I remember the news doing a story on co-op residents in Harlem being foreclosed on while they were upside down on their mortgages, but at the end of the story they highlight that they purchased the apartment for a dollar through HUD in the 90’s and took our two 600k mortgages on it. People don’t become financially literate when they receive a windfall after years of abject poverty. Buying the projects won’t make them not projects anymore, it will just remove their code exemptions and further impoverish the owners causing those neighborhoods to be bought up by middle class millennials and forcing the prior residents out on the streets.