The (Social) problem with property

Following on from yesterday: If we are going to establish a property development social enterprise using Muhammad Yunus' Type 1 Social Business model, we need to clarify what the social problem is that we're trying to solve.

Here's a few thoughts. You may be able to add to the list, and feel free to disagree.

  • When demographic factors outside your control affect the likelihood of you owning a home, we have a social issue. Factors such as ethnicity shouldn't affect the likelihood of owning a home. Under and over-representation of certain sections of society highlights inequalities present within the system.
  • Homes with poor quality construction leads to poorer health for the occupants. This in turn impacts the load on our health system and reduces our national productivity.
  • Insecure housing drives a scarcity mindset, contributing to people being trapped in destructive cycles and situations. Children living in these environments will be less able to engage in the educational opportunities presented to them, and an adult's potential to contribute to society is reduced.
  • In 2016, this country had the highest price to income ratio of all countries in the OECD. Using this measure, we are the least affordable. And yet somehow, with unaffordable housing, we are also the country where it is most profitable to own a house. What is going on?
  • Unsustainable building practices and development approaches that drive increased use of fossil-fuel reliant transportation, production and manufacturing processes has a local and global impact. 

From where I stand at the moment, it certainly looks like there's some scope to address social issues through alternative property development.