Giving Compass' Take:
- Gaby Galvin explains advocates' calls to decommodify housing in the U.S. so that housing is owned by communities, not investors.
- How would community-owned housing be safer and more affordable for everyone? How can you advocate for housing justice in your community?
- Read more about advancing housing justice.
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Housing justice advocates are calling for the U.S. to decommodify its housing stock — a process that would prioritize housing’s role in promoting collective well-being and economic mobility over its role as an individual financial asset — to ensure affordable and safe housing for all. To do so, they want more investment in public housing, social housing and shared equity models such as community land trusts, where residents collectively own property through an independent body, panelists said during the webinar.
Decommodifying housing “would be bringing that sense of ownership back to neighbors, blocks, to the place — and ensuring that some of these investments we are making are actually being routed locally to the benefit of the community,” Emily Thaden, vice president of national strategy at the Grounded Solutions Network, a national inclusive housing organization, said during the panel.
There is some evidence that these models work, including in Portland, Oregon, where a community investment trust has enabled low-income residents to buy shares in a local strip mall. But given the lack of widespread investment in decommodified models so far — they make up less than 1% of housing in the U.S. — it’s still unclear what broad-scale programs would look like, including how they should be built and managed, as well as what level of overall U.S. housing would need to be decommodified to accomplish housing justice advocates’ goals, said Gabi Velasco, a policy analyst at Urban’s Research to Action Lab.
The momentum is there, though. In Los Angeles, the Liberty Community Land Trust acquired 10 properties over the last 18 months, including commercial businesses and single-family homes to convert into triplexes for low-income residents, Goodmon said. He said the group aims to become the country’s largest community land trust in a bid to “stabilize Black communities” and “address systemic inequality in America in its most blatant form” — access to safe, affordable housing.
“The concept of collective ownership of land is not foreign to anyone — we all know what a condominium is,” Goodmon said. The group’s biggest challenge is not preparing low-income residents to buy homes, though — it’s getting the public and banks “to believe that [is] something that we should be investing in.”
Read the full article about community-owned housing by Gaby Galvin at Smart Cities Dive.