Prince George's County task force reviews shared-equity trust models, timetable for resale rules and pricing

Members of a Prince George's County Planning, Housing and Economic Development (PHED) committee task force heard a presentation on shared-equity community land trusts and discussed options for forming a countywide trust during a virtual meeting. Brenda Torpy, technical assistance, Champlain Housing Trust, gave the presentation and answered questions from task force members and local staff.

Torpy framed shared-equity community land trusts as a tool to expand affordable homeownership and preserve household wealth for lower-income buyers. "To me, this is the most important driver for shared equity," Torpy said, adding that nationally "72% of renters don't have the income or savings to buy a home." She cited Champlain Housing Trust's historical data to illustrate outcomes for buyers in that trust's program, including lower foreclosure risk and high retention: Torpy said two post-crash studies found about 90% of shared-equity homeowners remained owners five years later…