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Updated over 10 years ago on .

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23
Posts
1
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Andrew Nesbitt
  • Antelope, CA
1
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23
Posts

Do affordable housing communities ever become normal housing communities? and if so how?

Andrew Nesbitt
  • Antelope, CA
Posted

So say there is a condo community that is affordable housing where the condos sell for about $170k.  Basically its income restrictions that keep these condo prices low as if it wasnt income restricted, these condos would be worth about $100k more.   Sometimes investors can buy these, but they have to be on the market for a long time (90 days i think) But I was wondering if these communities can ever lose their status as affordable housing and if so how does that work?  Does it just become a regular community after so many years, or what?