NHPF Industry Report
ESUSU WORKS WITH 65% OF THE NMHC TOP 50 PROPERTY AND ASSET MANAGERS. BUSINESS RESULTS INCLUDE: • An average credit score increase of 34 points . • Over $12.9 billion in mortgage loans and over $4 billion in auto loans were accessed by Esusu renters with increased credit. • Over 121,000 auto and 29,000 mortgage loans were accessed by Esusu renters with increased credit. • Millions in eviction prevention and zero-interest rent relief distributed to 8,000+ households in 46 states. • 82% of recipients are BIPOC (Black, Indigenous, and other People of Color) and 63% are women. • 81% of borrowers have an AMI below 80% . Second Century Ventures works with proptech startups to solve affordable housing issues through investing in and adopting new building techniques and materials, and digital tools to lower development and property management costs, new construction materials and processes among other solutions. As we incorporate more AI into our business, the industry must remain vigilant against the spread of misinformation and seeing technology replace jobs. Our recommendation here? Use technology in balance with the human touch. We are in the business of providing housing to people and only other people have the compassion and understanding to make housing and other personal connections meaningful.
Conclusion: Co-Create the Future
The baby boom has had a profound and lasting impact: Over 11,000 people are still turning 65 daily in 2023. However, by 2048, the baby boom will dwindle, and the nearly-as-large millennial generation will reach retirement age, with the vibrant Gen Z picking up the mantle. What is the worst that can happen in 2050? The senior population that is projected to grow from 18% to 22% in 25 years suffers even more housing scarcity, risings costs of living, social unrest and lower wages—dire problems for everyone and even a total collapse of the country is possible. What is the best that can happen? The combined recommendations in this report resonate enough to make real change. All the segments of the affordable housing equation; all the living generations co-create a vision that provides high quality healthy housing, breathes new life into cities, eliminates the affordable housing gap, and builds a way of life for future generations.
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