Homes for the Rest of Us

Homes for the Rest of Us is my response to the mess that is the finance industry. 

The Harvard MBAs screwed up the whole finance thing. So how are people supposed to get houses?
We’ll just have to take care of ourselves.  And each other.

I don’t know exactly how this will work, but I am pretty damn sure we can make it happen.

There’s this great program called that allows people to make micro-loans to entrepreneurs, mostly in emerging or plain dysfunctional economies. These entrepreneurs use the loans to buy baskets for their laundry business or seeds for their half-acre “farms.” They pay back the money the best they can.

This is America, though. Comparatively, we’re rich as all-get-out. We can give much bigger “micro” loans to people who can’t get mortgage financing any other way. And, besides, have you read paper? The whole world is a dysfunctional economy.

So here’s what I’m looking for:

* Some honest lawyers who know what kind of non-profit corporation we have to set up
* Some honest lawyers to help us (volunteers)
* Some finance or banking people (volunteers)
* Some lenders to get the ball rolling (volunteers, sort of)
* Some borrowers who need money to buy a home (these shouldn’t be difficult to find)
* Many passionate people who want to help in any way they can

We’ll need to create some basic rules and set some return rate. The loans will probably very high risk, but the interest rates probably won’t reflect the level of risk compared to other investment options. That’s okay, though. People are good and want to help each other.

I don’t want to put banks out of business–they have their job in society. But I think it will take a generation of grad students before we really trust that group to finance home mortgages again. And I know a lot of people who don’t want to wait that long.

If you want to help, forward the link to this site to everyone you know. Just getting some eyes on the page and ideas on the forum will help.

Great movements start with tiny actions, and this is about the tiniest action I could think of. So it will have to work.

Who says conservatives won’t help their fellow human?  Did I mention that this is a non-profit?


Published by: bhennessy

Bill Hennessy is co-founder of St. Louis Tea Party Coalition, expert in persuasive design and marketing, and author of three books, including The Conservative Manifesto (1993) and Zen Conservatism (2009)

Categories Business, Economy1 Comment

One thought on “Homes for the Rest of Us”

  1. This isn’t a bad idea and it has been done many times other than Some are for profit (nothing overly wrong with that after all) and some not.

    while the loans could be high risk, the way some do it is diversify. Say person “A” invests $1000 into the org. That org may take that 1000 and spread it amongst 100 different loans, therefore minimizing the risk of the whole 1000.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s