NEW YORK: The world has struggled to find a formula for providing home ownership for low income earners.
The UK system of shared equity is close to perfection.
Government provides capital to a housing association, which in turn builds homes for low income seniors and families.
The individual takes a ‘movable’ equity slice of the home, depending on income levels.
A lease in perpetuity is granted, and the owner has a home for life.
The equity level can be adjusted at any time…