Tag: workforce housing
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Deeds Reserved for Affordability: Incentives for Home Buyers to Live in Hawaii
Hawaii continues to grapple with its housing crisis. Hawaii’s Hale Kamaaina Mortgage Program is a state-based initiative to connect first-time home buyers with cut-rate mortgages. And this year, it made an extra $3,000 available to its first 35 buyers. Hale Kamaaina offers first-time Hawaii home purchasers: The funding comes from tax-exempt mortgage bonds. Hawaii administers…
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Affordability Fix or Just Busy Work? Deed Transfer Tax Hike Divides Cape Cod
Here’s a “home rule” question. Should Massachusetts let the towns of one county charge a luxury transfer tax on homes that sell for more than $1 million as they see fit? The Barnstable County Assembly of Delegates, a governing body made up of one elected member from each of the Cape Cod towns, has just…
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“I Never Thought I Would Own a House…” A Community Trust in Vermont Takes on the Housing Shortage
Too many homes sit empty in towns where working people need them. In a housing affordability crisis, this has to change. In Vermont, a local nonprofit is stepping up. Local Deeds is an initiative that helps people make down payments on homes. Specifically, working people. A deed restriction ensures that someone in the home has…
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Workforce Deed Restrictions: How Are They Monitored?
With housing costs up (and wages not so much), some cities need to give working people a hand. As financial barriers to homeownership continue to frustrate so many wage earners, workforce housing is one way to make deeds attainable. It’s for households earning too much to qualify for standard government subsidies, but who can’t pay…
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Deed Restrictions as Affordability Tools
Vacation Town Residents Get Paid to Live in Their Homes Park City, Utah is a tourist mecca. It’s known for the Sundance Resort, with its famous Sundance Film Festival. Need we say it’s a town full of vacation rentals? Two-thirds of Park City’s homes have no one living in them. The supply of homes for…
