Re: Affordable housing | <– Date –> <– Thread –> |
From: Fred H Olson (fholsoncohousing.org) | |
Date: Mon, 5 Sep 2016 08:29:01 -0700 (PDT) |
Ingram Paperny wrote: (Subj: Re: Affordable unit for sale) ( http://lists.cohousing.org/archives/cohousing-l/msg40839.html ) >John and co housing.org, This demonstrates one of the reasons for the >difficulty co housing has in connecting with economically diverse and >potentially interested cohousingniks. $300 + per sq. foot! Ingram Paperny Ingram quoted 2 messages about cohousing units for sale in California where housing costs are very high. Below are excerpts from those messages and below that is my summary and comments: > Subject: [C-L]_ Affordable unit for sale (Southside Park in Sacramento) > selling our 820 sq ft upstairs flat diagonal from the common house in > Southside Park Cohousing in Sacramento for the same reason - moved to a > larger home in same coho community because our family expanded. The price is > $269k. Info at 418 T Street on Zillow.com > Subject: [C-L]_ affordable unit for sale at FrogSong (Cotati, CA)! > ... selling a two-bedroom unit here at FrogSong. This is unprecedented > - so far none of the smallest units have gone up for sale! > This sunny, two-bedroom, one-bath cohousing townhome for sale is part > of the Frog Song Cohousing Community in Cotati, CA. It is an 871 > square-foot upstairs flat next door to the Common House. It is part of > the City of Cotati's Affordable Housing/Inclusionary Zoning program, > which means that it has certain restrictions regarding price and the > income level of the buyer-qualified buyers therefore have a smaller > pool of people to compete with. For more information about this home, Summary of these two housing and the markets they are in: Frog Song Community / Cotati, CA (Listing price) #359,392 871 Sq Ft $412/sq ft Max Gross 2 person HH Income 79,300 HOA fee $279/month which includes most utilities, maint. and reserve Sonoma County Av listing price: $949,000 Median sales price: not avail. Southside Park Cohousing / Sacramento, CA (Listing price) $269k 820 sq ft $320/sq ft (I did not see any income limits) HOA fee $333/month which includes common house and all City utilities Sacramento County Av listing price: $358,413 Median sales price: $310,000 Southside Park nbhd prices: listing: $457,000 Median sales: $503,000 per sqft: $259 California Av listing price: $642,396 Median sales price $430,000 For comparison here are a few selected state's housing prices: listing median sales California $642,396 $430,000 Colorado $509,956 $325,000 (source: trulia) District Of Columbia $703,348 $549,900 Iowa $181,324 $213,500 Massachusetts $552,297 $215,000 Minnesota $275,547 $240,000 New York $534,012 $425,000 North Carolina $279,519 $185,500 Oregon $384,309 $290,000 Washington $370,200 $319,836 Sources: http://www.zillow.com/homes/418-T-ST-Sacramento-CA-95811_rb/ https://frogsong14.wordpress.com/sales-process-and-offers/ : http://www.trulia.com/home_prices/California/Cotati-heat_map/ http://www.trulia.com/home_prices Fred's comments: Comparing housing prices and "affordable" is tricky. Housing prices vary hugely from place to place. Location is a huge factor. What is considered affordable also varies greatly. Note that the chart above is averages. Housing costs also vary greatly within states and within cities depending on location. Another huge factor behind housing costs is when the house was purchased since prices tend to go up and up. If one lives in a house that was purchased 40 years ago as I do, current prices look even higher. That is if you live in the same place for a long time it tends to look more affordable over time till you move). But since becoming part of cohousing in the US almost always involves buy a house and cohousing is generally not immune to market forces (location based land costs for example), the cost of of cohousing is based on current prices. Limited equity coops and land trusts are one approach to long term affordability. The Frog Song unit for sale appears to have an equity limit in place. I would argue that the problem of cohousing cost is related to the problem of the way the US housing market works. Note that one could probably have affordable cohousing in areas where housing costs are low - particularly if it were done in existing housing structures. But it would probably be difficult to find people who wanted to live there. My current approach (not accomplished yet :) to a pretty good solution to these problems is a limited equity coop in a desireable area that is not yet recognized as such and therefore still relatively low land costs as well as a mix of size units inclucing some quite small units (ala tiny houses). See http://mn.cohousing.org/bcrk/ Fred -- I support Hillary Clinton for President. ( formerly Bernie Sanders) Fred H. Olson Minneapolis,MN 55411 USA (near north Mpls) Email: fholson at cohousing.org 612-588-9532 My Link Pg: http://fholson.cohousing.org
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