Freddie Mac took a giant step toward transparency last week when it announced sweeping changes to its condominium and housing cooperative financing system. The government-sponsored enterprise that underwrites mortgages is introducing a tool that indicates whether a community is “certified” for financing or “not eligible”—and providing guidance that explains why a community may not be eligible.
A well-crafted welcome packet can help community association leaders make a good first impression, cultivate positive feelings toward the community, and potentially get someone involved as a volunteer down the road.
Despite a competitive housing market and current concerns about housing affordability, 70% of Americans still see owning a home as a clear sign of success in adulthood, according to Wells Fargo’s 2019 “How America Views Homeownership” survey.
Between student loan debt, the high cost of living in large cities, and rising housing prices, buying homes has become less practical for young people. Crowdfunding could be the means to make owning a home a reality for millennials.
CAI’s new site provides practical advice on common issues in the community association housing model.
