Community land trusts spreading in U.S.

SPRINGFIELD, Mass., Nov. 22 (UPI) -- Soaring real estate prices in the United States have given rise to community land trusts, whereby homeowners possess the house but lease the land underneath.

The Institute for Community Economics, based in Springfield, Mass., says the number of CLTs in the United States has doubled since 2000 to 200. In 1980 there were fewer than 10, said the institute, which helps organize CLTs.

Homeowners pocket some appreciation on their homes when they sell, while the trust maintains ownership of the land. And since it is land values that soar, the homes stay affordable.