Cohousing-L Mailing List: Re: limited equity co-housing

[Chris (chris-cohousing]

On Mon, Dec 22, 2003 at 04:23:43PM -0800, Harriet Lewis said: 
> Santa Rosa Creek Commons, 22 years old, is a limited equity complex 
> which has resulted in maintaining low prices.  For less than $20,000 
> maximum, people buy a share in the housing cooperative.  That is 1/27th 
> of the total 1.5 acre complex with 27 apartments. When they leave, they 
> get it back.  They don't lose money but they don't make money either.  
> Therefore, we are still offering share values for very reasonable 
> prices and monthly carrying charges below market value for local 
> apartments.

it's been a long time since I took economics...does the share value keep
up with inflation? otherwise it's not just not making money, it's a pure
loss for anyone who moves out.

I guess I'm confused by the $20,000 maximum, unless that's just what it
happens to be right now, and it's free to change over time and isn't a
hard limit.

chris


-------------------------------
Chris Doherty
chris [at] randomcamel.net

"I think," said Christopher Robin, "that we ought to eat
all our provisions now, so we won't have so much to carry."
               -- A. A. Milne
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