> The first condominium in the continental US was built in 1960, the entire scheme is only 63 years old.
This is correct in the sense that it is technically correct (for residential dwellings; commercial condominiums have existed for almost a hundred years prior).
However, residential cooperatives (co-ops) have existed in the United States since the mid-1800s. These are functionally the same as a condominium with a slightly different legal structure. But the end result is identical: multiple owners jointly managing a building in which they all own a stake.
I mean, FWIW, the issue primarily relates solely with residential dwellings: Businesses generally have a better grasp on risk factors. Also, many residential cooperatives, to my knowledge, refer largely to house-sized structures, especially... in the mid-1800s. It's much more affordable to manage repairs for less floors and traditional wood frame construction.
It's also plausible the legal structure of a condominium itself is the problem that leads to, well, largely incompetent management.
Obviously I'm not sure landlords are a winning solution for anyone either. But particularly for large structures, I would prefer actual public/government management over a quasi-government entity comprised of self-centered residents.
This is correct in the sense that it is technically correct (for residential dwellings; commercial condominiums have existed for almost a hundred years prior).
However, residential cooperatives (co-ops) have existed in the United States since the mid-1800s. These are functionally the same as a condominium with a slightly different legal structure. But the end result is identical: multiple owners jointly managing a building in which they all own a stake.