Both provide people the ability to have homes without direct ownership nor dealing with the hassle of ownership nor the uncertainty of renting.
It has the benefits of owning. Control over rent prices, ability of modifying living space (including putting up pictures) and benefits of renting (allowing easy relocation, delegate maintenance responsibility).
Housing cooperatives and CLTs have the benefits of both without the drawbacks of either. It also treats housing as a human right as opposed to an “investment”.
There are housing cooperatives for students, the most temporary population and the least wanting to maintain a property.