#548: How To Be Successful With Affordable Housing Without Being Evil
Never miss another interview! Join Devin here: http://bit.ly/joindevin. Read the full Forbes article and watch the interview here: http://bit.ly/2s121Tp. “Our nation is in the midst of a true affordability crisis.” Daryl Carter, founder, chairman and CEO of Avanath Capital Management, sees that as both a problem and an opportunity. He’s found a way to deliver returns to investors while serving working families at the same time, that is, without being evil. Let’s start by looking at the problem. “The median income of a renter in the United States is $36,000. To be considered affordable, renters should be spending no more than a third of their income toward rent. However,” Carter says, “in many coastal markets such as Los Angeles and New York, over half of all renter households are allocating more than 50% of their income toward rent.” That threshold matters, because if you are paying more than half of your income in rent, it is difficult to also provide food, healthcare and education for the people living under that roof. “Historically, the reason that many neighborhoods have declined, whether it’s Detroit or Oakland, is not because of who lives there, but rather because there is a lack of investment in those areas,” Carter says. Read the full Forbes article and watch the interview here: http://bit.ly/2s121Tp. Need a corporate social responsibility speaker? Learn more about Devin Thorpe at http://corporatesocialresponsibilityspeaker.com.