Fight the gentrifiers. Build community land trusts - I believe that's how China town in NY stays affordable to the Chinese community that live and run businesses there.
This video was an amazing explanation of the technicalities. I've been interested in learning more about the process and mechanisms, thanks so much for sharing this resource.
Why would anyone put money into their homes if they never own the land and can't make money selling the home? This sounds like a nasty hoa where the HOA board has tons of power over the residents and the homeowner never makes any money. If you're ok with renting for the rest of your life, perhaps this would be ok for you. It sounds like a neighborhood where the place would be nice at first but turn into a slum over time due to the fact that you can never make money off the property.
so you think if something cannot have free reign to be solely profit driven will somehow become dishiveled? this incessant drive to profit at all costs disgusts me and is shameful when people's basic needs are put on the backburner because of it.
You sell your home back to the trust for either the price u paid for or a restricted price increase. Its risk to you is pretty low, better for someone who is constantly renting
They’re intentionally removing the home from the speculative market. So if your goal is to acquire an asset and resell it for profit, you should not choose to live in a CLT home. If your goal is to have a home that you can afford to live in, to live without fear of foreclosure, or to ensure that everyone in your community can have reliable access to affordable housing, this might be a better fit for you. It’s not a moneymaking scheme. It’s a solution to the housing crisis.
@@joiedevivrenee my concern with that business model would be people not putting quality repairs or renovation to the homes since you'd never recoup the money you put into the home. My guess is that these communities would be a good solution for affordable housing in areas with high cost of living until the homes get about 25 to 30 years old. This is when most homes undergo a renovation to fix things that wear out. After 30 years, I'm guessing that these nice neighborhoods will gradually turn into run down neighborhoods that people won't want to live in. Do you have any knowledge or experience with this potential concern?? Just curious, I'm not knocking this business model but have concerns
@@joesmith6724 I would agree if the majority of the housing stock in the area I am most familiar with (Alameda County) was not in such poor condition. Only 40% of the homes are occupied by their owners, meaning that 60% are in the rental market and the number of homes with unmitigated lead and mold problems alone are indicative of the fact that when housing is traded as a commodity for increasing the wealth of those who own property they aren’t incentivised to sell to families or keep up with repairs. The competition for housing means that they can continue to ignore necessary repairs while the occupants continue to pay market rate rent. I can’t argue in terms of what incentivises homeowners to make repairs on their existing home because I don’t know anyone who has owned a home for 25+ years. However, it doesn’t seem reasonable that a family would allow their home to fall into disrepair around them because they can’t sell it. Don’t people maintain their cars because of the utility the vehicle provides? They aren’t expecting to resell the car for a profit. They expect it to serve its intended purpose. Thanks for being respectful!
