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Press clips : Video Clips
1) HUD Homeownership subsidy
2) FNMA Zero-down loans
3) Vouchers Enable Low-Income HomeOwnership
4) Home Ownership: Pipe Dream or a New Reality
5) Daly Plan Pitifully Inadequate
6) May 16 HomeOwnership Debate in San Francisco
7) NAACP Minority HomeOwnership Program
8) Ellis/OMI/Costa Hawkins protections
9)Policy Hurts Immigrants
10)Home Ownership Causes HH Wealth
11)Class War and the Poverty Trap
12) Home Ownership Program for Equity

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Tenants as Home Owners?
A Pipe Dream or a New Reality for San Francisco?

10 am April 3, 2001
Followup or questions to Carol Ruth Silver 415-861-5802

Coming to the November 2001 ballot is the HomeOwnership for Tenants (HOT) proposal, by the Affordable HomeOwnership Alliance, to enable tens of thousands of San Francisco apartment dwellers to become homeowners.

Upon enactment of HOT, and armed with FNMA's recently announced no-money-down loan programs for first time buyers, tenants will be able to get the owners of their building to subdivide, and sell them the apartments they live in.

Incremental transfer taxes and property taxes resulting from these transactions would fund rent and mortgage subsidies for the elderly and disabled, and numerous affordable-housing programs citywide.

Non-buying tenants would get lifetime protection from OMI and Ellis evictions, and from Costa-Hawkins rent increases.

To qualify, at least 25% of tenants in a building must participate. Said Carol Ruth Silver, Co-Chair of the Advisory Committee of the Affordable HomeOwnership Alliance, "This is a win-win situation. Tenants get to be homeowners, evictions are prevented, and everyone benefits. San Francisco citizens should be able to live the American dream of homeownership."

More details about the HOT proposal are available at http://www.affordable-homeownership.org

 


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