A homeownership option for everyone

Advocates for the interests of low and moderate income families and individuals are sometimes divided over basic housing policy issues. Some call for more homeownership opportunities because they see the impact that asset building can have on people’s life chances.  But when scarce housing resources are diverted from much needed affordable rental housing to support homeownership, one consequence is often that fewer households benefit and those that do are often higher income.

While shared equity homeownership is no substitute for permanently affordable rental housing, for families with stable incomes it can offer the benefits of homeownership, including modest wealth creation, while preserving affordability so that more people can benefit from public investment.  And because shared equity homeownership offers stable affordable monthly payments and community support, it can be appropriate for low and even very-low-income families who might find traditional homeownership difficult to sustain.

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  • Survey: Community land trusts lower risk of losing homes to foreclosure
  • 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 […]

  • Asset Building Impact of a Limited Equity Housing Cooperative
  • 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, […]

  • 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.

  • Christian Science Monitor: One Path to Affordable Housing
  • from the November 22, 2006 edition One path to affordable housing: You own the house, but a trust owns the land By Amy Green | Correspondent of The Christian Science Monitor  ORLANDO, FLA. – A single mom and X-ray technician, Jennifer Sorrentino couldn’t keep up with Orlando’s racing housing market of recent years. She and her 16-year-old daughter […]

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