I’d estimate that a vast majority of Americans mistakenly believe that their home is their property. But if it was your property you wouldn’t have to pay rent property taxes on it in order to stay in it. Moreover, if it was your property you’d be able to sell it for whatever you wanted
DENVER — A Denver mom says she did not know her home was part of an affordable housing program when she bought it and the city is preventing her from selling it at market value – nearly $80,000 more – according to KDVR.
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Just days before the home closing, Lopez was told her home was part of an affordable housing program that Denver created in 2003.
Out of 5,000 homes built in Green Valley Ranch, 642, including Lopez’s, were priced as affordable housing. That meant 642 homes could only be sold to buyers who qualified as low income.
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Nothing could be found in the title documents that mention affordable housing restrictions.
The woman, Cynthia Lopez, mistakenly believed that the home she paid for was her home but it actually belonged to the City of Denver, which decided to exercise its ownership privileges by restricting the maximum rental transfer price. Lopez also made the mistaken of believing that she had to sign some kind of documentation for rules to apply. She obviously never heard of social contract theory, which states that everybody agreed to a contract upon birth (which is apparently the only contract one can legally agree to before coming of age but I digress) that allows the government to change the rules whenever it feels like doing so.