Representatives Blake Moore, Andy Barr, and Jimmy Panetta introduced bipartisan legislation on Mar. 27 aimed at increasing access to homeownership for young Americans by encouraging investment in shared appreciation mortgages.
The Shared Home Appreciation for Residential Equity (SHARE) Act seeks to make returns from investments in shared appreciation mortgages tax-exempt when used for down payment assistance for families earning less than 140% of the area median income. These mortgages do not accrue interest or require monthly payments, which supporters say could help more families afford their first homes.
“For many Americans, owning a home has long been the most reliable path to building wealth and providing stability for the family. Unfortunately, the American Dream is becoming increasingly more difficult to achieve,” Rep. Blake Moore said. “Housing affordability is a top concern for Utahns who are often priced out due to rising costs and interest rates. I am proud to introduce the Shared Home Appreciation for Residential Equity (SHARE) Act to incentivize investment in shared appreciation mortgages for new homebuyers. We live in a young state with young families who are eager to put down roots and purchase their first home, and this legislation will help them do that.” Rep. Andy Barr added: “Homeownership is a cornerstone of the American Dream, but for too many families, it’s becoming unattainable… The SHARE Act helps change that by opening new pathways to ownership through private investment while safeguarding borrowers every step of the way… I’m proud to cosponsor the SHARE Act because it delivers real solutions for Americans.” Rep. Jimmy Panetta said: “The American dream of homeownership remains out of reach for far too many working families who can’t afford to borrow at today’s high mortgage rates… As families struggle with sky-high housing costs, we must expand access to mortgages on terms that give people the opportunities to fulfill their dreams.”
Marcus Martin, CEO of Homium, said: “We are at risk of an entire generation missing out on the financial freedom and community benefits that come from owning your own home… We’re very grateful that Congress is making common sense adjustments needed to make it possible.” Jim Sorenson, Chairman of Sorenson Impact Foundation said: “Homeownership is the backbone of economic mobility and financial security. This bill helps create a market-based solution… without subsidizing demand.”
According to information about Moore’s background from official sources, he has served as U.S. Representative from Utah’s 1st District since 2021 after replacing Rob Bishop; he was born in Ogden in 1980 and currently lives in Salt Lake City; he graduated from University of Utah with a BA in 2005.
Supporters argue SAMs offer innovative ways forward as national homeownership rates have plateaued around 65%, with nearly three-quarters of households unable to buy median-priced homes under standard mortgage terms—a trend highlighted by recent data showing continued challenges facing prospective buyers.
