Is goverment price control property a good buy?

[Jordan Yefriadi]

In Maryland the county I live in offer Workforce Housing program. Property in metropolitan area for the somewhat low income (income<$102k=qualified). The kickers are: its sold at discounted price, and remains the same for 20yrs. Refinance is allowed but not more than the controlled resale price established by the county. If its sold within 20yrs it has to be sold for no more than the established price by the county. The property can not be rented out, owner must occupy. Also there will be asset limitation: one can not have asset exceeding 75% of the amount of loan (i think this means one cant buy more properties).

Does this sound like a good deal for first time home buyer?

[Russell Brazil]

You can typically buy a pretty nice house for very cheap.  So it can be good to buy a place for the enjoyment aspect of it, its just not a good investment.