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The Miami-Dade County commission voted to establish a pilot community land trust (CLT) program last week with the goal of creating 50 units of affordable housing.
Why it matters: A CLT is a unique model of real estate that can help keep homes affordable for generations.
- Miami is the least affordable metro in the U.S. The median list price for a home was $605,000 as of August, according to RealtyHop.
- The county has a shortage of 135,000 affordable units for renter households earning half of the area's median income or less, Miami New Times reported.
How it works: In a typical CLT, a nonprofit acquires a piece of land through various...
Read MoreOur thoughts on this story:
I’m not sure what to think about this new concept in which the non-profit owns the housing unit and the “homeowner” can’t sell it except at the price the non-profit demands to someone the non-profit chooses. Isn’t that really just a rental agreement disguised as a mortgage? If you take the ability to create wealth out of home ownership then you’re really ruining that person’s future well-being, right? One more case of groups that think they need to control lives because they believe that humans are naturally stupid.

