Originally posted in Rooflines, the Shelterforce Blog:
By: Rick Jacobus
In an era of dwindling affordable housing resources, communities are looking for ways to use what they have more efficiently.
Advocates for shared equity homeownershipprograms have long argued that preserving long-term affordability helps public funding go further; in fact, new data shows that public funds invested in shared equity homes have been growing at an annual rate of almost 5 percent, even in the wake of the housing market collapse.
Cornerstone Partnership‘s Sector-wideSocial Impact Report shows how 53 shared equity programs across the country invested $252 million in mostly state and local housing subsidy to make homeownership accessible for 4,100 lower income families. Read the full article