From Foreclosure to Occupation
A group of low-income San Franciscans has come up with a positive, long term solution to the housing crisis that is causing millions of Americans to be evicted and some to embrace the “Occupy Homes” movement: buy the buildings. In October 2011, residents of the Columbus United Cooperative (CUC) in San Francisco celebrated final approval of the ownership of their building as a permanently affordable, resident-owned limited-equity housing cooperative. The residents can now purchase “shares” in the co-op for only $10,000 in the heart of San Francisco (where housing starts at $500,000) to become cooperative homeowners, though most earn less than 50 percent of area median income.


