Housing assistance and the creation of household wealth

This thesis aims to develop the framework of a housing program designed to help current recipients of rental subsidies begin to build household wealth through homeownership. Its core beneficiaries are households in Boston and Cambridge earning between 60% and 80% of the area median income. It also proposes an extended program to help households earning between 80% and 135% AMI purchase a home, since they also face significant burdens from housing costs in the current market and are underserved by existing housing programs. The proposal does not aim to solve the overall housing crisis, nor to replace existing programs, but rather to act as a supplement to current programs. The first chapter examines the history of housing policy, and from that review draws six principles of effective housing programs which are used to guide the new proposal. The second chapter examines the needs of renters, home buyers, and property developers in order to identify basic criteria which a new program must meet. The third chapter evaluates individual potential elements of a new program with respect to the principles and criteria identified within the earlier chapters. Finally, the framework of the proposal for a new housing program is laid out.

Department dc:contributor.department

Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2019

Author dc:creator

• Worth, Thomas F.,II.

Advisor dc:contributor.advisor

• Walter N. Torous.

• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

https://hdl.handle.net/1721.1/123592

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/123592