Low-income housing restrictions limiting owners’ options to resell
The Denver Post
Denver’s affordable-housing program seemed like the perfect solution to help Kevin Kate Albizu and her husband, Ryan, buy a home three years ago.
Now the Albizus, like scores of others in the program, say they find it nearly impossible to resell their homes because of city restrictions.
The crunch is occurring because the program’s rules require those who bought the discounted homes under income restrictions to resell only to people who meet those same income restrictions, said Damon Knop, a real estate agent who represents many trying to resell homes in the program.
Tighter lending requirements these days make that difficult, Knop and other critics say.
“The math is just too tight,” Knop said.