The Rent Trap: In the Wake of the Foreclosure Crisis, Should We Be Encouraging People to Abandon the Dream of Homeownership?
The price of renting, both literally and figuratively, is covered in this article which focuses on the benefits of buying a home through a land trust. The program in Vermont through the Champlain Housing Trust is described along with the benefits of the land-trust model. Benefits include low down payments and availability of low-cost financial assistance. The shared-equity model of homeownership makes it almost impossible for the owner to loose equity. Reports on actual returns are included in the article as well as the benefits to construction and mortgage companies.
SOURCE: The American Prospect
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