In Wisconsin
home prices have risen
much faster than income
according to
the Wisconsin Policy Forum.
That freezes
out renters
from creating
generational wealth
through homeownership.
But there are innovative
ideas to get people
into their own homes
like land trusts
where the buyer gets
a mortgage for the
home only, and then
leases the land
under it
from a nonprofit.
The result?
Affordable home ownership.
Why it's so appealing
to us is the idea
that we will be able
to set aside
a certain number of homes
that will remain
relatively affordable
forever.
There's a number
of strategies
that we deploy currently
within the city of Green Bay
and that are common
I think, across the country
but oftentimes
those periods
of affordability
are limited to
15 years or a couple decades
or something like that.
With the community land
trust model, because
the rate of appreciation
is managed a bit
and regulated a bit
for those
who own these homes
these homes will
especially in the long term
be a lot more affordable
when you compare them
to other homes
that are available
on the private market.