Star Tribune has a good article on a co-op that is in financial distress and the potential fallout.

While there are few co-ops in town so this is a limited issue, the issue of unsold units in association communities is a far larger one.  If you buy/have bought in to an association-run development (condo/townhouse) and many units remain unsold, those units are not contributing revenue to the association, which can leave the association in financial distress.  In that situation you wouldn’t lose your home, but you certainly could see monthly dues rise dramatically.