Tuesday, September 27, 2011
Michael Diamond (Georgetown) has posted Shared Equity Housing: Cultural Understanding and the Meaning of Ownership, a chapter in the recently published book The Public Nature of Private Property (Ashgate, Malloy and Diamond, eds.). In it, he examines the place of affordable homeownership resale restrictions in broader notions of private property. Here's the abstract:
In this paper I examine whether shared equity limitations that are sometimes applied to subsidized affordable housing creates for the owners of such housing a second class ownership status. I conclude that they do not. In support of this conclusion, I look at the meaning of property from both cultural and historical perspectives. I argue that property and ownership are culturally constructed concepts that are understood differently in different cultures and in the same culture over time. I examine the series of limitations that have been placed on property in industrial societies and argue that the limitation on equity is just another in a long list of limitations that society has imposed on ownership in favor of a supervening social good, in this case, the preservation of affordable housing for future generations of low-income homeowners.
Michael and the other contributors to this book have presented at the wonderful Association for Law, Property and Society annual meetings that he and Robin Paul Malloy have organized these past couple of years at Georgetown. Registration for the 3rd Annual Meeting this coming March has recently opened and will remain so until January 20th.