this post was submitted on 20 Mar 2025
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I get that he enjoys staying involved with the project including providing/helping services for the community, but this probably doesn't need to use the "30% of income rent" crutch that is typical. Would be less time consuming to sell homes at cost, perhaps partner with bank to guarantee mortgages at low rates, let the community be a self managed HOA. Can make unlimited communities that way instead of tying up all your/his time into this one.
That may be fine at first, but the price of those houses will skyrocket every time they're sold until they reach the current market prices again. By only renting them, he can ensure the price stays artificially low.
If community is awesome, then prices can go up. All the better reason to buy with arranged financing if needed. Ultra generous rent control benefits can prevent you from improving your life if it means moving.
Wouldn't the prices going up immediately negate the entire reason the community exists?
Helping the most people comes with building the most homes. The awesome part of what he's doing is foregoing profit. Helps even more people. But keeping "self financed" production up, without micromanaging communities, is likely the best use of his time. The best way to help people isn't necessarily by gatekeeping for only those who deserve the most help, and reducing the total help provided, bc of the gatekeeping getting in the way.
Go and implement your way of doing it then, get back to us. Otherwise, STFU from your warm home with, I assume, little experience of the concerns of homeless people. Even if I'm wrong on that last part, please just be happy about something positive going on without sticking your keyboard nose in it.
Go outside and talk to someone. Maybe a homeless person.
Locking rent to income allows people to get their finances under control and get back onto their feet without the risk of loosing their housing because they make too much