Washington, DC, Feb. 17, 2021 (GLOBE NEWSWIRE) -- At a time when many people are in financial survival mode, addressing everyday money matters, building long-term stability and wealth is more important than ever. One way to build long-term wealth is through homeownership, and a Feb. 17 NeighborWorks America virtual symposium explored shared equity housing models – specific types of housing strategies that create permanently affordable homes, build wealth for families and create equitable communities.
“Shared Equity Housing: Creating Lasting Affordability and Community Ownership” was part of the 2021 NeighborWorks Training Institute. The weeklong event, which began Feb. 15 and ends Feb. 19, hosted by NeighborWorks America, provided comprehensive professional education and training for housing and community development professionals. In 2020 NeighborWorks America awarded more than 18,000 training certificates to professionals from more than 2,000 community development organizations.
“By creating shared ownership, these models give community members who wouldn't otherwise be able to own a piece of their community access to the wealth building and stability that homeownership offers," said Shanti Abedin, director of shared equity housing at NeighborWorks America.
NeighborWorks America provides vital training to professionals like housing counselors who help people become homeowners and therefore increase their pathways to wealth. More than 12,400 people enrolled in NeighborWorks America’s HUD-certification courses over the last year. On Aug. 1, 2021, all housing counselors must be HUD certified to provide housing counseling for a HUD participating agency.
Speakers at the symposium included:
- Marietta Rodriguez, president & CEO, NeighborWorks America
- Tony Pickett, chief executive officer, Grounded Solutions Network
- Shirley Sherrod, co-founder of New Communities Land Trust
Shared equity and cooperative models, including community land trusts, limited-equity cooperatives, deed-restricted homes, and resident-owned manufactured housing communities, ensure homes for families who may not otherwise be able to afford stable housing in their neighborhood of choice. This means that subsidies put into a community remain in that community over time, allowing affordable housing to serve multiple families over generations. Shared equity housing models also serve a pathway to traditional homeownership and wealth building for families who would normally not have access to equity-building opportunities. They also often allow for increased community control of housing and land.
Learn more information about the NeighborWorks Training Institute.
About NeighborWorks America
For more than 40 years, Neighborhood Reinvestment Corp., a national, nonpartisan nonprofit known as NeighborWorks America, has strived to make every community a place of opportunity. Our network of excellence includes nearly 240 members in every state, the District of Columbia and Puerto Rico. NeighborWorks America offers grant funding, peer-exchange, technical assistance, evaluation tools and access to training, as the nation's leading trainer of housing and community development professionals. NeighborWorks network organizations provide residents in their communities with affordable homes, owned and rented; financial counseling and coaching; community building through resident engagement; and collaboration in the areas of health, employment and education.