Re: Affordable housing | <– Date –> <– Thread –> |
From: Sharon Villines (sharon![]() |
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Date: Thu, 8 Sep 2016 06:17:17 -0700 (PDT) |
> On Sep 7, 2016, at 11:30 PM, Reede Stockton <commercial [at] willriley.com> > wrote: > > yep, that's the $64,000 question (showing my age…) Yep. And those isolation booths with headphones. > I don't pretend to know the answer, but I tend to think alternative > financing is the key - that's why I think public banking may be necessary. > Somehow, the cost of the initial investment needs to be spread over a long > enough period of time that the founding group doesn't sacrifice everything > for the folks that come along later. If the homes go at market rate, the initial group doesn’t sacrifice, they build. What the initial group builds, including community, translates into higher socioeconomic value. One option would be for an individual to carry the mortgage when possible. In other words, allow people and not just banks to finance cohousing. I remember in the 1950s, my grandparents driving “out to the lake” to pay their mortgage payments. The previous owners had retired and moved to the small house they had built there with a fishing dock. The monthly income was more important to them than a bunch of money in the bank. The worst that could happen if my grandparents defaulted on the mortgage is that they would get their house back. This would reduce costs just in eliminating all the rigamarole that mortgage brokers and banks add to the process. Though many people would need the lump sum to pay off their own mortgage and to buy a new home, not everyone does. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- Re: Affordable housing, (continued)
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Re: Affordable housing Fred-List manager, September 7 2016
- Re: Affordable housing Reede Stockton, September 7 2016
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Re: Affordable housing Tiffany Lee Brown, September 7 2016
- Re: Affordable housing Reede Stockton, September 7 2016
- Re: Affordable housing Sharon Villines, September 8 2016
- Re: Affordable housing Philip Dowds, September 8 2016
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Re: Affordable housing Fred-List manager, September 7 2016
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