Bucks County’s Residential Real Estate Boom Is Exploding the Dreams of Low-Income Purchasers

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Image via Habitat for Humanity of Bucks County at Facebook.
Habitat for Humanity of Bucks County has had to respond to rising residential real estate prices to ensure access for low-income families.

It’s true that a rising tide lifts all boats, meaning that one change can sometimes improve the general status of many. But there’s an downside to that phenomenon, which is making itself evident in Bucks County. Elevated residential real estate prices are pushing properties out of the budgets of needy families. The trend has become a big concern for Habitat for Humanity of Bucks County, according to a James McGinnis story in the Bucks County Courier Times.

Habitat is facing a situation in which its constructed homes are reselling for market values beyond the reach of the low-income Bucks Countians it serves.

“We have a lot of homeowners moving on, and that’s a good thing,” said Florence Kawoczka, Habitat’s executive director. “But even Habitat can’t afford to buy the homes back. And it’s getting harder and harder for us to find a piece of land that we can afford or a home we can buy in county.”

The nonprofit’s latest build in Bristol Township will come with caveats: Ownership of the land on which it sits remains with Habitat; when sold, it must go to another qualifying low-income purchaser.

“We’re going to make sure that 10, 20, or 30 years from now another low-income family is going to be able to buy this house,” said Kawoczka.

More on the resale of Habitat for Humanity homes is at the Bucks County Courier Times.