How some Americans are making homeownership work in the current market

Core Insights - The article highlights the efforts of Charly Bass-Davis in revitalizing her community in Wilmington, Delaware, through her business, Steel Development, which focuses on renovating and selling homes to lower-income buyers [2][3]. Group 1: Community Revitalization - Charly Bass-Davis joined the Jumpstart Wilmington program to help combat the decline in her neighborhood caused by rising housing prices and vacant homes [2]. - Her business model emphasizes community involvement to make housing more affordable, showcasing a successful example of local entrepreneurship [2][3]. Group 2: Housing Market Trends - The Federal Reserve reports that the median sales price of a home is $410,800, requiring a down payment of over $80,000 for a traditional 20% payment [4]. - A survey indicates that 13% of Americans have purchased a home with a non-romantic partner, highlighting the financial challenges many face in affording homes independently [5]. Group 3: Alternative Housing Solutions - Co-buying with family or friends is presented as a viable option for making homeownership more accessible [4]. - Crowdfunding real estate is mentioned as a method for investors to pool resources to acquire properties that may be financially out of reach individually [6]. - First National Realty Partners (FNRP) utilizes a collaborative investment approach, partnering with major retail and grocery chains to invest in necessity-backed real estate [7].