Cooperative financing and community land trusts keep rents affordable and homeownership within reach. There are multiple proven models for nonprofit ownership of rentals, from land trusts to community development corporations to direct government ownership. If the market is ripe for speculators, it is equally ripe for nonprofits to buy in bulk. Taking the profit out of rentals allows greater stability for renters: They know they can stay as long as they need or want to, so they are more likely to become involved in the community. If the rent they pay is less than what they’d pay in a profit-motivated rental, they’ve got that much more money to spend locally or to save for when they’re ready to buy.
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