Goal: Increase the Availability of Affordable Homes
Role: Preserve and Recycle Resources

Given the scarcity of public funds available for affordable homes, it is important to use resources in a cost-effective manner designed to achieve maximum impact for the minimum cost. The preservation of existing affordable rental homes helps prevent their loss to deterioration or gentrification and ensures they will remain available for working families over the long-term. Other cost-effective strategies include recycling down payment assistance for use by subsequent generations of homebuyers, and using "shared equity homeownership" strategies to maintain the buying power of government subsidies for homeownership in the face of rising housing prices.

Click on the policies below to learn more about ways to implement this strategy.

Preserve Affordable Rental Homes

Affordable rental homes include units that receive government subsidies and those that are lower-cost as a result of age or condition. By working to ensure that these units remain a viable part of the housing inventory, communities can contribute to the preservation of vital affordable housing opportunities for working families and others.

Recycle Downpayment Assistance

By structuring downpayment assistance as a loan that is due upon refinancing or sale of a home, rather than as a grant or forgivable loan, communities can recapture their initial investments to help more families achieve homeownership.

Use Shared Equity Mechanisms to Preserve Homeownership Subsidies
Shared equity homeownership is a homeownership strategy that balances the goals of individual asset accumulation and ongoing affordability, ensuring that the public's investment in affordable homeownership keeps pace with the market, while offering homebuyers the opportunity to earn a healthy return on their investment.

Photo credits (L to R): Eastgate Apartments, Springfield MA -- photo courtesy of MHIC; Bungalow Court, Minneapolis MN -- photo courtesy of LHB, Inc.; Cottages at Mattituck, Southold NY -- photo courtesy of Community Development Corporation of Long Island