Grounded Solutions Network and Lincoln Institute of Land Policy just announced the publication of a 33-year study highlighting the economic benefit and long term affordability of shared equity homeownership programs. This is the largest study of these programs to date, tracking more than 4,000 units across 20 states.
“Under the shared equity housing model, lower-income residents are provided the opportunity to own a home at a lower cost than the open market rate. When a shared equity home changes hands, the resident reaps a portion of the gains and a portion stays with the property, providing a perpetual subsidy and allowing others to purchase the same home at below-market cost.”
One such example of shared equity is the community land trust (CLT) model. ULC is a strong advocate of CLTs, as we believe land ownership coupled with permanent affordability truly creates lasting community benefit. You can read the recently published report for free here.