This report by the Asset Policy Initiative of California outlines a blueprint for building responsible pathways to homeownership for low and moderate income homeowners. The report highlights shared equity homeownership as one element in a more comprehensive strategy to ensure that lower income households have meaningful asset building opportunities.
The financial crisis of 2008 will change the landscape of homeownership in the United States more than any other event since the Great Depression. The crisis reveals that homeownership, approached irresponsibly, has caused tremendous suffering among families and communities. Today’s crisis, moreover, strains the conventional wisdom that homeownership is the first and most stable step toward the achievement of the American Dream.