On October 5 of this year, a man carrying a large metal pipe stormed through New York City and attacked several sleeping homeless people in his path. Four of them were murdered, and another was left in critical condition. What may seem like just another piece of grim news in America is a sign of a larger problem in the country. A lack of affordable housing leaves many abandoned on the street, faced to deal with the harsh realities that come with those situations. With the government seemingly helpless on the issue, it is up to private investors to step up and take care of the problem.
Affordable Housing Is Scarce; Homelessness Increases
The homeless populations in America’s big cities (like New York and Los Angeles) have grown in recent years, and a lack of affordable housing is to blame. Homeless people are vulnerable, as they are exposed to harsh elements and violence found on the streets. As a result, advocacy groups are stepping up to try and help.
Are Advocacy Groups Enough to Fight Homelessness?
In New York, advocacy groups like the Bowery Mission are taking a stance against homelessness. According to them, nearly 4,000 homeless people sleep on the streets and in public transportation stations every night in New York City. NYC Mayor Bill de Blasio says that there is a greater demand for affordable housing, but as of yet, there is little action. Private investors can start to take matters into their own hands.
Private Investors Can Start Buying Affordable Housing
New construction in the city often focuses on luxury. We need more affordable housing in city centers, and private investors can help.
Using Propy‘s real estate transaction platform, it is easier than ever to invest in real estate. Not only can real estate be a good investment, but it can make a positive social impact.