In the U.S., owning a home has long symbolized stability, opportunity and progress toward prosperity. However, for far too many low- and moderate-income families, this goal has proved elusiveāresulting in diminished economic wellbeing.
One tool that is available to nonprofit housing developers to address this situation is the limited equity cooperative (LEC). LECs are still underutilized, but appropriately stewarded both pre- and post-formation, they offer a proven pathway to create long-term, affordable homeownership for people of modest means.
