Concept information
Preferred term
shared-equity homeownership
Definition
- Shared-equity homeownership is a generic term for various forms of resale-restricted, owner-occupied housing in which the rights, responsibilities, risks, and rewards of ownership are shared between an income-eligible householder who buys a home at a below-market price and an organizational steward who protects the affordability, quality, and security of that home long after it is purchased. Community land trusts (CLTs), limited equity cooperatives (LECs), and price-restricted houses and condominiums with affordability covenants lasting longer than 30 years are the most prevalent examples of shared-equity homeownership in the United States, but new models of resale-restricted, owner-occupied housing—or new permutations of older models—appear nearly every year. [Source: The Encyclopedia of Housing; Shared-Equity Homeownership]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/shared-equity_homeownership
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