Solutions to Restore Home Ownership for the Working Middle Class
Reducing Cost to Build = Selling Homes Below Market + Deed Restrictions to Ensure Homes Always Sell Below Market.
PAHA is spearheading two unique home ownership programs dedicated to working middle-class households through:
• Home and Lot Are Sold (FEE SIMPLE = LOT + HOME are purchased)
• For households earning around $86,000 to $123,000 annually (90-120% area median income in Kootenai County)
• Deed Restrictions Are Recorded with the Deed
• Newly Launched in 2021 with Fannie Mae Certification
• Only the home is purchased by the buyer
• Land is owned by a non-profit
• For households earning around $60,000 to $85,000 annually (60-89% area median income in Kootenai County)
• Deed Restrictions run through a land lease to the home
• Launched in communities across the country over the past 4 decades
For 30 years Sun Valley, Idaho ignored its need for workers to live where they work.
Today: Businesses have closed their doors due lack of workers.
WHY?: Workers have been pushed out, no longer able to afford to live where they work. The very fabric of Sun Valley’s economy has severely eroded.
Kootenai County stands on the same precipice Sun Valley faced 30 years ago. In less than five years, the median price of a single-family residence in Kootenai County more than doubled to over $500,000. Home ownership is not only for the wealthy. There are immediate solutions today that will restore home ownership for our hardworking, middle-class families.
How should we respond to an ever-increasing demand for home ownership? Read about our new trailblazing development, Miracle on Britton, offering 28 fee-simple homes in Post Falls, Idaho for middle and upper-middle-class families in Kootenai County.
