Cohousing-L Mailing List: Re: Limited equity cohousing?

[Sharon Villines (sharon]

For communities trying schemes like limited equity and alternate forms of 
ownership, consider the effects on households for the full life span — to age 
90+. While cohousing obviously can’t change the whole housing economy it could 
demonstrate a model that works for all stages of life. While you are under 
45-50, various schemes to limit the market value of housing seem doable and 
fair, but that same market value is a lifeline for many if not most people over 
65. What if they have to move?

When people invest 20-30 years in increasing the value of their home unless 
they can monetize that labor — meaning be rewarded for that labor with money or 
other benefits, they will be poorer than they were 20-30 years ago. Play the 
"so what happens to me at this age” game. If a 30-something with one child 
agrees to limit the sales price to a below market rate, can they ever return to 
the market—to real life? Can they ever purchase or rent another house or condo 
unit? Can they borrow money using their house as security to pay for their 
child’s college education?

It’s also important not to undervalue the worth of all the labor cohousers 
contribute to building a community, physically and socially. Cohousing requires 
work. Cohousers work unequally but they are all necessary to establish a 
community large enough to be financially possible.

I remember a guide for teenagers on dating that began with, “Don’t get into a 
relationship until you know how you will get out of it.”

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org