Is there a unique real number x such that for all $y$, $xy = y$?
In logical form, the equation would be like this: $\exists!x: \forall y, (xy = y)$
My book states that such an $x$ does not exist because when $y = 0$, any value of $x$ would suffice $xy = y$ and therefore $x$ is not unique.
But I'm a little confused by that part. Since we are looking for an $x$ that should work for all $y$, shouldn't $x = 1$ be the answer here since only when $x = 1, xy = y$ holds true for all values of $y$?
For example, when $x = 1$, $x \cdot 1 = 1, x \cdot 2 = y$ and $\forall y, (xy = y)$. And only when $x = 1$ would $\forall y, (xy = y)$ be true.
The statement that your text refutes is $$\forall y \exists! x: ( xy=y )$$
which is a valid refutation as we only need one $y$ for which $\exists! x: ( xy=y )$ fails. And that $y$ is $0$ (the counterexample is also unique).
While $$\exists! x \forall y: (xy =y)$$
is a true statement, because we can take $x=1$ to prove it.