A recent report in the Desert Sun (behind paywall) just reported on “co-owned homes” being banned in Indian Wells (CA).
This follows a “controversial” process in Palm Springs where it was allowed, albeit with significant restrictions.
While initially it appeared to primarily involve high-end luxury homes (Robb Report May 10, 2024) , an article from Strong Towns from earlier this year asks “Is Co-Buying the Future of Homeownership?”
Perhaps too early to know, but what will the impact be to local governments when any of these home are vacated, abandoned or otherwise become a nuisance.
For more information please click on the following links:
Strong Towns: “Is Co-Buying the Future of Homeownership?”
Patch: St. Helena Reaches Settlement With Pacaso Home Co-Ownership Company
USA Today: I know we haven’t met but, want to go in on a vacation home? Why co-ownership makes sense
Palm Beach Post: Palm Springs OKs controversial co-owned housing ordinance