Preserving Affordability

Where typical local downpayment assistance programs offer homeownership to one lucky family, the same public investment in a shared equity home can help one family after another.  Each year, as additional public money is invested, the portfolio of shared equity units grows making it possible to help more and more families with limited resources.  Each year federal housing programs provide more than $1 billion in homebuyer assistance to local governments.  But this significant annual investment helps only about 30,000 of the several million eligible families.  Generally these funds are invested with 5 to 15 year affordability requirements.  If the same funding were to be invested in permanently affordable shared equity homeownership programs, each year we would add an additional 30,000 units to a growing national portfolio of affordable homes.

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  • Preservation of Affordable Homeownership: A Continuum of Strategies
  • This report, one of several related resources published by the Center for Housing Policy, provides an overview of the strategies available to help communities preserve affordability of assisted homeownership units and explains the pros and cons of different approaches.  The report describes grants, forgivable loans, deferred loans, shared appreciation loans, deed restrictions/covenants, community land trusts […]

  • CalState Preserves Affordability of Faculty Housing
  • This excerpt form a report published by Homes for Working Families provides a profile of an innovative employer sponsored housing program which offers shared equity homeownership to university faculty. University Glen provides affordable for-sale housing to faculty and staff of California State University’s Channel Islands campus as well as market-rate rental housing. Priority is given to faculty and staff […]

  • National Association of Realtors: On Common Ground
  • winter2008_cover_smThis article comes from the Winter 2008 issue of On Common Ground, a publication of the National Association of Realtors focused on smart growth issues. The article describes "a growing trend toward shared equity housing, a trend that, in the past few years, has taken on the momentum of a bullet train." The article profiles several shared equity homeownership projects including the Beecher Cooperative in Washington DC and Southern Lights a " a deed restricted housing project initiated by the Boulder Area REALTOR® Association."

  • 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.

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