Post by Michael Diamond on Oct 12, 2011 8:26:45 GMT 4
Shared Equity Housing: Cultural Understanding and the Meaning of Ownership
Michael Diamond
Georgetown University Law Center
Georgetown Law and Economics Research Paper No. 11-22
Georgetown Public Law Research Paper No. 11-122
Abstract:
In this paper I examine whether shared equity limitations that are sometimes applied to subsidized affordable housing creates for the owners of such housing a second class ownership status. I conclude that they do not. In support of this conclusion, I look at the meaning of property from both cultural and historical perspectives. I argue that property and ownership are culturally constructed concepts that are understood differently in different cultures and in the same culture over time. I examine the series of limitations that have been placed on property in industrial societies and argue that the limitation on equity is just another in a long list of limitations that society has imposed on ownership in favor of a supervening social good, in this case, the preservation of affordable housing for future generations of low-income homeowners.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1938620_code238438.pdf?abstractid=1931017&mirid=1
Michael Diamond
Georgetown University Law Center
Georgetown Law and Economics Research Paper No. 11-22
Georgetown Public Law Research Paper No. 11-122
Abstract:
In this paper I examine whether shared equity limitations that are sometimes applied to subsidized affordable housing creates for the owners of such housing a second class ownership status. I conclude that they do not. In support of this conclusion, I look at the meaning of property from both cultural and historical perspectives. I argue that property and ownership are culturally constructed concepts that are understood differently in different cultures and in the same culture over time. I examine the series of limitations that have been placed on property in industrial societies and argue that the limitation on equity is just another in a long list of limitations that society has imposed on ownership in favor of a supervening social good, in this case, the preservation of affordable housing for future generations of low-income homeowners.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1938620_code238438.pdf?abstractid=1931017&mirid=1