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The underlying challenge for the field is that many policies assistance in the event thal problems arise, and
<br /> lack the flexibility to adapt to changing market conditions. monitor long-term affordability provisions. There is
<br /> Not all policies for example allow existing homeowners or some evidence that this type of stewardship may help
<br /> developers to rent out inclusionary ownership units,even anticipate and address problems before they lead
<br /> under defined circumstances or for specified time periods. to a crisis. For example, a sur✓ey of community land
<br /> Strengthening policies to be more dynamic in the face trusts — a form of affordable homeownership that
<br /> of unexpected price dips (or spikes) is a key area where places a particular emphasis cn ongoing stewardship
<br /> policies can improve in the coming years. — found that the severe delinquency and foreclosure
<br /> rates of their homebuyers were far below market
<br /> Sound stewardship practices can also help to levels despite the fact that the homebuyers had low
<br /> minimize problems associated with changes in market
<br /> incomes. While some inclusionary programs offer
<br /> conditions or buyer circumstances. Some affordable strong stewardship of inclusionary units, others do
<br /> homeownership programs have an entity charged not, and are thus less able to provide the type of
<br /> with staying in touch with buyers of affordable ongoing support some low-income
<br /> homeowners may
<br /> homes to answer their questions, help them access need to weather a crisis.
<br /> Montgomery County Department of Housing and Community Affairs
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<br /> A mix of moderately priced and market-rate
<br /> condominiums in Montgomery County(MD).
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