State Government

Building a lasting stock of affordable homes

Shared Equity can help state governments to put scarce housing funds to work today to create affordable homeownership opportunities that will remain affordable for generations to come.  By investing for the long term, state government can help stabilize housing markets and avoid the boom and bust cycles that have made homeownership a risky proposition for so many working families.  Shared equity homeownership programs offer buyers a more predictable path ownership and asset building.  State housing agencies support shared equity homeownership either by establishing their own program or by developing policies and financing tools which support the growth of local shared equity homeownership programs.

Learn More

  • Shared Equity in Australia
  • 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.

  • American Planning Association: Affordable Forever
  • planning0309This article from Planning Magazine profiles a number of community land trusts and describes how local planners are turning to CLTs as a means for preserving long term affordability of homeownership units.

  • Fannie Mae: Guidelines for Resale Restricted and CLT Properties
  • Fannie Mae has developed a thoughtful set of guidelines that allow lenders to originate mortgages for buyers of shared equity homes. The guidelines are designed to protect the lender's security interest in the property right to repayment while still allowing local affordable housing programs to protect affordability for the longest term possible. The guidelines allow for resale price restrictions that survive foreclosure by the mortgage holder.

  • WA Housing Finance Commission: CLTs Come of Age
  • picture-31The Washington Housing Finance Commission published this 8 page overview of Community Land Trusts in Washington and the growing role that they are playing in implementing the state's affordable housing goals. Kim Herman, Executive Director of the Commission and past president of the National Council of State Housing Agencies, writes ...

  • The Times: British Shared Equity Housing Explained
  • This short article from The Times of London provides an overview of the national 'shared ownership' program which has helped 95,000 families into homeownership in the United Kingdom since 1997.

  • The City CLT Partnership
  • 1395_clt-pfr-cover-loresCommunity Land Trusts can offer a stable institutional structure for long term stewardship and monitoring of affordable homeownership units. This report produced by the Lincoln Institute for Land Policy provides an overview of the Community Land Trust model for local and state government policymakers and outlines best practices among cities that have chosen to partner with land trusts to produce permanently affordable homeownership opportunities.

  • Shared Equity Homeownership: the Changing Landscape of Resale-Restricted, Owner-Occupied Housing.
  • sharedequityhomecoverhis 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.

  • Homeownership 2.0
  • Picture 10 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.