Question

A group of young professionals working in a city faces difficulty in finding affordable housing. Which type of cooperative society should they form to address this issue?

Options

• Industrial cooperative

• Housing cooperative

• Consumer cooperative

• Credit cooperative

Answer 1

Housing cooperative

Explanation:

Housing Cooperatives are formed to provide residential accommodation to members either on an ownership basis or at fair rents. These societies are particularly organized by poor and middle-class people in big cities, who face housing problems.