A bill is being pushed forward in Maryland that would ban all new "ground rents" -- a housing ownership situation in which one owner owns a house and another owns the land beneath the house. Some say the system is being used in a "predatory" way.
"'The ground rent system is obviously very broken,' State House Speaker Michael E. Busch said yesterday in a statement. 'It is incumbent upon the legislature to protect the residents and their property across Maryland.'"
"The proposed emergency bill follows an investigative series in The Sun last month that documented how a few of the largest ground rent owners in Baltimore City have used state laws rooted in Colonial practices to seize homes or charge homeowners thousands of dollars in fees over delinquent bills as small as $24."
"The emergency legislation, which is co-sponsored by the governor's office, seeks to end a relatively recent practice by some investors and rehabbers of putting new ground rents on properties that are sold after undergoing renovations. A ground rent runs for 99 years and is renewable forever unless bought out by the homeowner."
FULL STORY: Ground rent bill expected to pass
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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