I grew up in cooperative social housing. The model is that a not-for-profit organisation (with government funding) buys houses within a community area and rents them to people within that community. Rents are capped at 25% of the household income or at cost (which ever is lower).
The people within this community manage rent collection and maintenance requests.
Tenancy is long term so tenants have leeway in making modifications to the house. Even major modifications are possible with consultation with the community group.
This gives people that majority of benefits of home ownership without having to be property investors.
The not-for-profit can use the equity in their property portfolio to purchase or build new properties.
It's a great model for housing for people across a wide range of income levels.
Chronic under funding in the past 25yrs hasn't allowed these cooperatives to grow with population growth so this option isn't available to most people.
Most people don't actually want to own a house, they just want location stability and the ability to paint their walls.