Replies to post #694515 on Fannie Mae-No Politics (FNMA)

[HappyAlways]

Semi-private home ownership scheme in Hong Kong is the way to go for low-income family housing.

Government built properties are sold to pre-qualified low-income families at 51% of the market price, so that government still owns 49% of the property. The low-income families will have 100% entitlement except when they sell the properties. They can sell the properties to other pre-qualified low-income family so that the discount is passed on to them. Or, they can repay the discount at market price to the government, own 100% of the property and are free to sell the property in the open market any time they want.

[Donotunderstand]

Likely True

but how about a condo in a 10 story building

do you think the condo owner owns the land --- nope !

They own some form of exclusive rights to .. but the common areas (hallways) and usually the first floor and for sure the land underneath is either owned pro rata by all or ?

What about a Co-op - which I think is even trickier