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For the second year in a row, community land trusts (CLTs) have demonstrated their resilience and stability in the midst of a turbulent housing market. According to a recent report authored by Emily Thaden and published by the Lincoln Institute of Land Policy, homeowners in CLTs were 10 times LESS likely to enter the foreclosure process when compared to homeowners with conventional loans. The study also notes that the stewardship activities of community land trusts, including pre- and post-purchase homeowner education and counseling, significantly contribute to the "superior outcomes" of CLT homeownership.
Full coverage here.
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Enterprise Community Partners recently featured a nice story on OakCLT in their annual report, profiling our very first homeowner. Click the image below to go directly to the story:
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In October 2011, the National League of Cities' Center for Research and Innovation released a report showcasing six case studies of cities throughout the United States and their unique models for addressing the foreclosure crisis. Oakland is one of the six cities featured in the analysis, with a specific focus on the Oakland Community Land Trust. Find a description of the study here, and the full report here (pdf). |
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Great new story on OakCLT over at HealthyCal.org. (Click image below to read the entire story)
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June 22, 2010
The Oakland Community Land Trust has been named #10 out of 50 in San Francisco Magazine's "Best of the (brave, new) Bay Area." Here's what they had to say about OakCLT:
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#10 Getting something good out of the foreclosure crisis
Several core Oakland neighborhoods were among the nation's hardest hit by mortgage defaults, but the Oakland Community Land Trust has come up with an out-of-the-box, sure-to-be mimicked plan to help. Last year, the nonprofit wrangled $5 million in HUD money to purchase 130 foreclosed homes, rehab them in a green way, and sell them at affordable prices to low income families. The new homeowners' monthly mortgage payments are similar to what they had been paying in rent, and maintenance workshops-plus ongoing access to tools-help them keep their homes in fine working order, which is good for everyone on the block.
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