There is a growing body of literature documenting the limitations of traditional homeownership for lower-income homeowners and highlighting the potential of shared equity homeownership to offer a more stable means to economic advancement. But these programs are all still relatively new and additional research is necessary to better understand the potential of this new approach and to help policy makers craft stronger programs.
- Study of Social Capital and Housing Cooperatives
- Survey: Community land trusts lower risk of losing homes to foreclosure
- Asset Building Impact of a Limited Equity Housing Cooperative
- Shared Equity in Australia
This 1998 article from the Fannie Mae Foundation’s Housing Policy Debate documents the practical benefits of “social capital” created through tenant ownership of Housing Cooperatives in New York City. The article presents evidence that social capital can be an effective component of locally sponsored low-income housing programs. It provides a model for measuring social capital […]
Homeowners in community land trusts (CLTs) across the country are much less likely to lose their homes to foreclosure than owners of market-rate homes, according to survey results released by the National CLT Network and the Lincoln Institute of Land Policy. The new data show 2008 closing with a slight 0.52 percent foreclosure rate among […]
This brief report by David Thompson quantifies the economic benefits and other outcomes for residents of the Dos Pinos limited equity housing cooperative in Davis, CA during the period between 1985 and 2005. The report estimates the annual housing cost savings relative to renting and market rate homeownership, the return on an owner’s invested capital, […]
Innovative financing for home ownership: the potential for shared equity initiatives in Australia. This 2008 paper provides an overview of international shared equity homeownership models, describes the results of several Australian initiatives and makes recommendations for national housing policy.
- Burlington Resale Study
- Measuring the Market for Shared Equity
- Shared Equity Homeownership: the Changing Landscape of Resale-Restricted, Owner-Occupied Housing.
This 2004 study of the first 100 home resales conducted by the Burlington Community Land Trust (now known as the Champlain Housing Trust) is the only formal study of program outcomes for shared equity homeownership completed to date. The study documents significant asset building outcomes for homeowners as well as success in preservation of affordability for future buyers.
This 2007 report by Robert Charles Lesser and Company provides quantitative estimates of the total consumer demand for shared equity homeownership in the 20 largest US metropolitan areas based on a survey of 1,100 low or moderate income renters with an interest in purchasing a home.
his 150 page report produced by the National Housing Institute (NHI) was the first to group together several models of resale restricted homeownership under the general term "shared equity homeownership." The report focuses on three models of housing tenure that use durable contractual controls to perpetuate the occupancy, eligibility, and affordability of homes that are owned and occupied by low- and moderate-income households: the community land trust, the limited-equity cooperative, and deed restricted housing with covenants lasting 30 years or more.