[_8j50]

99 year leases are common in many countries. You still get equity and you can still sell the house. If you don't sell before the lease is up and they don't renew the lease, they still need to compensate for the value of the house before kicking you out.

[subpixel]

There is a cap on what you can resell the house for, so this is not a way to get rich in real estate.

It's interesting how many commenters seem to think that renders this model ineffective.

"If nobody can get rich in this game, nobody should play" is an odd way to look at this program, which is about helping renters graduate to home ownership while protecting their community from speculative capital.

[_8j50]

I agree that real estate shouldn't enable a "get rich easy" scheme,it maligns incentives of everyone involved.

[beerandt]

It's preventing these people from benefiting from the very mechanism they claim put them at a disadvantage in the first place.

Why not teach them the ropes of how to benefit like everyone else is?

Telling them not to play the game at all while everyone else continues to doesn't help anyone long term.

Even worse, they're paying essentially the same mortgage (a slightly discounted one) but will see a fraction of the proportional benefit as their neighbors do, when it comes time to sell.

Then it will be just another way that the system is set against them to get ahead.

[fastball]

You can't sell the house. You can sell the lease. In the end, this house reverts back to whichever wealthy family already owned it, so that this family gets wealthier and wealthier over time. Leasehold is a terrible concept leftover from feudalism.

[markdown]

In my country, 93% of the land is communally owned by the people indigenous to this place. The only way for an individual to access this land is via leases of 30, 50, or 99 years.