Also: How one woman stopped an oil-by-rail terminal, and tissue-box replicas of demolished buildings.
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What We’re Following
Game of homes: Most Americans approach the housing market as a choice between either renting or owning. But there’s a third way: the shared-equity model. This alternative form of ownership offers benefits that traditional markets cannot, such as allowing for long-term housing affordability and letting low- and moderate-income families build equity. Shared equity comes in a few different forms, such as community land trusts and housing co-ops.
By either selling and renting units on land owned by community nonprofits or selling shares of a co-owned building, these tools create opportunities to take housing out of the speculative market, and to serve people shut out of traditional markets. In the latest edition of our explanatory series, CityLab University, Benjamin Schneider explains the history of shared-equity housing in the United States and how it works, and imagines how it could become a bigger part of the housing ecosystem. Today on CityLab: How Land Trusts and Co-ops Work
More on CityLab
What We’re Reading
The neighborhood is mostly black. The home buyers are mostly white. (New York Times)
Millennials killed the mall, but Gen Z might save it (Bloomberg)
Marriott poised to become first hotel company to take on Airbnb in home-rental business (Wall Street Journal)
Automation changed how pilots fly planes. Now the same must happen with cars. (Jalopnik)
A federal program was established to help disadvantaged areas. That’s not where most of the money goes. (Washington Post)