Image courtesy of the NYC Community Land Initiative
By John Duda
Originally posted by Community-wealth.org
How do they work and why do they matter?
Community land trusts are a key strategy for helping low-income communities build assets through home ownership while mitigating the destructive consequences of irrational, speculation-fueled housing markets. By keeping housing permanently affordable, a community land trust helps reduce the displacement that can accompany gentrification when property values are climbing, and provides acommunity framework that supports residents and limits their overall exposure to debt that has been proven tosharply reduce the incidence of foreclosure when the economy takes a turn for the worse. Our new infographic highlights the mechanism behind the community land trust: