IDEAS home Printed from https://ideas.repec.org/a/taf/chosxx/v28y2013i4p553-578.html
   My bibliography  Save this article

Sharing Equity with Future Generations: An Evaluation of Long-Term Affordable Homeownership Programs in the USA

Author

Listed:
  • Kenneth Mark Temkin
  • Brett Theodos
  • David Price

Abstract

Shared equity initiatives provide homeownership opportunities to low- and moderate-income families who buy homes at below-market prices. The appreciation that can be earned by resellers is limited to preserve the homes' affordability at resale. This article analyses affordability, personal wealth, security of tenure, and mobility outcomes for seven shared equity programs across the USA. Homebuyers earned returns that were competitive with what they would have received if they had invested in stocks or bonds. In addition, homes remained affordable to lower income buyers over time as the homes were resold. Homeownership under these programs was sustainable: there were very low delinquency and foreclosure rates and many families who sold their homes were able to use their sales' proceeds to purchase market-rate homes. Owners also showed little evidence of being locked in place, and moved to new homes at rates near the national average.

Suggested Citation

  • Kenneth Mark Temkin & Brett Theodos & David Price, 2013. "Sharing Equity with Future Generations: An Evaluation of Long-Term Affordable Homeownership Programs in the USA," Housing Studies, Taylor & Francis Journals, vol. 28(4), pages 553-578, June.
    • Handle: RePEc:taf:chosxx:v:28:y:2013:i:4:p:553-578
    DOI: 10.1080/02673037.2013.759541
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/02673037.2013.759541
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/02673037.2013.759541?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ka Shing Cheung & Siu Kei Wong & Kwong Wing Chau & Chung Yim Yiu, 2021. "The Misallocation Problem of Subsidized Housing: A Lesson from Hong Kong," Sustainability, MDPI, vol. 13(4), pages 1-14, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:chosxx:v:28:y:2013:i:4:p:553-578. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/chos20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.