The Boulder Housing Advisory Board meeting held on March 26, 2025, focused on innovative housing solutions, particularly the concept of co-buying properties. The meeting featured discussions led by Philip and other board members, emphasizing the importance of community living and shared financial responsibilities in addressing housing challenges.

The session began with an introduction to co-buying, defined as an approach where two or more individuals purchase property together. This model is particularly beneficial for first-time homebuyers, families, and friends who may not qualify for a mortgage independently. The board highlighted that co-buying can lead to shared financial gains and responsibilities, making homeownership more accessible.

A significant point raised was the increasing trend of co-buying, which now represents 31% of all real estate transactions in the United States. The board noted that co-buying arrangements can vary, including scenarios where one person occupies the property while others invest. This flexibility allows for diverse living arrangements, such as rental collectives and intentional communities.

The discussion also touched on the environmental benefits of co-buying, as it promotes higher density living and resource sharing, reducing individual consumption of goods. The board members shared personal experiences and successful examples of co-buying, illustrating how this model can create supportive living environments and combat feelings of isolation.

Practical steps for potential co-buyers were outlined, emphasizing the importance of forming agreements and understanding collective needs before selecting a property. The board stressed the necessity of navigating financial discussions and exit strategies to ensure a smooth co-buying experience.

In conclusion, the Boulder Housing Advisory Board meeting underscored the potential of co-buying as a viable solution to the housing crisis, particularly in light of rising housing costs that outpace income growth. The board's commitment to fostering community-oriented housing solutions reflects a proactive approach to addressing the needs of Boulder residents.