Shared Equity Homeownership Evaluation: Case Study of Dos Pinos Housing Cooperative

Research Report

Shared Equity Homeownership Evaluation: Case Study of Dos Pinos Housing Cooperative

Abstract

Shared equity homeownership initiatives provide below-market homeownership opportunities to families in return for a share of the owner's potential capital gains at resale. This case study analyzes affordability, personal wealth, security of tenure, and mobility outcomes for the Dos Pinos Housing Cooperative, which operates in Davis, CA. Dos Pinos does not allow mortgages, so resellers realized little gain in equity. But prices and monthly carrying charges increased slowly, meaning that Dos Pinos homes saw increases in affordability relative to incomes in the area. And almost none of Dos Pinos' owners have ever been delinquent on monthly carrying charges.

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