Co-Owning a Home Probably a Bad Idea for Most

redstate.com

Affordable housing has been kicked around a lot in the last few years, especially since 2021, when Bidenflation started jacking up the prices of almost everything. Young people are having trouble buying houses, interest rates are moving upward, and some folks with homes are having trouble staying in them.

One possible solution to this is “co-ownership” of a home. That is to say, co-owning and sharing a home with friends or family members. Is this a good idea?

Color me skeptical.

While the concept of group homeownership isn’t new (think: timeshares), more and more younger generations are reportedly open to the idea of buying one-fourth or even one-eighth of a property amid a volatile and pricey real estate market.

“It’s just a natural solution to a growing problem that we face here in America, and that many cities face around the world,” co-founder and CEO of Pacaso – a property broker which lists shares of vacation homes – Austin Allison told Fox News Digital.

“There’s so many examples of companies that are creating sharing economy solutions to old problems,” the CEO added, “and co-ownership is effectively a sharing economy solution to a housing affordability problem. So I think the younger generation is just more familiar with innovative and sustainable structures like this.”