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TFA talks about "the dream of second home ownership". That's what this is. Second homes aren't essential. Now there's a strong argument that second home owners

TFA talks about "the dream of second home ownership". That's what this is. Second homes aren't essential. Now there's a strong argument that second home ownership should be restricted in some places, but that's orthogonal to whether the house is under shared or single ownership.

lostcolony 5y ago
Of course second homes aren't essential. But purchasing a second home still makes it a home; you'll still live in it some part of the year. This article is about rotating out who is living in it, making it no different than short term rentals or timeshares from the community perspective, and that's what I'm referring to. People don't want homes being owned and operated as rental businesses in their neighborhoods; they want people living in their neighborhoods. As evidenced by the exclusion zones, HOAs, etc, mentioned in the article. This is an attempt to circumvent those. So, fundamentally different than partial ownership of a boat as compared to a rental of a boat; no one is objecting to renting a boat on the UK canals.
- ghaff 5y ago
  It's easy to be critical of this and I certainly wouldn't be interested even if I had the money. But, in all fairness, a house with 8-way split ownership doesn't really look much different from a neighborhood perspective than a family property that's now owned by an extended family of descendants.
- JAlexoid 5y ago
  If the community doesn't like it, then they should have setup an HOA(or another form of a binding perpetual contract). Going the post-factum-legal-force route is hardly fair.
- notahacker 5y ago
  > So, fundamentally different than partial ownership of a boat as compared to a rental of a boat; no one is objecting to renting a boat on the UK canals. tbf it's actually very hard to legally do regular rentals on UK canals as opposed to short term hires at vacation prices and ownership (fractional or otherwise). But the fractional ownership schemes aren't rental rules evasion or selling the dreams of property appreciation, they're "you can get a 1/12 share for the one-off cost of a four week hire if you don't mind chipping in for 1/12 of the maintenance and mooring costs in future years"
vidarh 5y ago
I mean owning a shared second property is at least better utilisation than one that is always empty when you're not there

lostcolony 5y ago

Of course second homes aren't essential. But purchasing a second home still makes it a home; you'll still live in it some part of the year. This article is about rotating out who is living in it, making it no different than short term rentals or timeshares from the community perspective, and that's what I'm referring to. People don't want homes being owned and operated as rental businesses in their neighborhoods; they want people living in their neighborhoods. As evidenced by the exclusion zones, HOAs, etc, mentioned in the article. This is an attempt to circumvent those. So, fundamentally different than partial ownership of a boat as compared to a rental of a boat; no one is objecting to renting a boat on the UK canals.

ghaff 5y ago
It's easy to be critical of this and I certainly wouldn't be interested even if I had the money. But, in all fairness, a house with 8-way split ownership doesn't really look much different from a neighborhood perspective than a family property that's now owned by an extended family of descendants.
JAlexoid 5y ago
If the community doesn't like it, then they should have setup an HOA(or another form of a binding perpetual contract). Going the post-factum-legal-force route is hardly fair.
notahacker 5y ago
> So, fundamentally different than partial ownership of a boat as compared to a rental of a boat; no one is objecting to renting a boat on the UK canals. tbf it's actually very hard to legally do regular rentals on UK canals as opposed to short term hires at vacation prices and ownership (fractional or otherwise). But the fractional ownership schemes aren't rental rules evasion or selling the dreams of property appreciation, they're "you can get a 1/12 share for the one-off cost of a four week hire if you don't mind chipping in for 1/12 of the maintenance and mooring costs in future years"

vidarh 5y ago

I mean owning a shared second property is at least better utilisation than one that is always empty when you're not there