- About 1.8 billion people live without adequate housing, contributing to a global housing crisis.
- New Story's strategy focuses on making land accessible for families in Latin America to buy property, build creditworthiness, and unlock home financing.
- In Etzatlán, Mexico, New Story helped 941 low-income families become first-time landowners, with women making up 60% of these households.
A pervasive global housing crisis exists, with around 1.8 billion people lacking adequate shelter.
This barrier is particularly significant for women and children who cannot socialize or get economic advancements due to it.
There is a lack of affordable and accessible housing alternatives which squashes potential and sustains poverty cycles.
Although traditional NGOs have made progress in addressing homelessness symptoms, the scale and complexity of the problem demand innovative, market-based solutions aimed at facilitating enduring transformations.
The Innovative Approach to New Story
New Story has led a transformative approach to solving the housing crisis since its inception in 2014 by Brett Hagler, Alexandria Lafci, Matthew Marshall, and Mike Arrieta.
Unlike traditional housing charities that rely solely on donations to build homes, low-income families can actively take part in the housing market through empowerment programs offered by new stories.
As a non-profit organization, it brings together philanthropy with impact investing so that more scalable opportunities for quality housing are created for families.
Empowering Families Through Land Ownership
To make land available to Latin American families is one of New Story’s core strategies.
By collaborating with local developers and municipalities, New Story assists households in acquiring property rights and securing home loans.
For instance, in Etzatlán (Mexico), New Story has assisted approximately 941 poor families own their first piece of land where women represent 60% of all these households.
This is quite an accomplishment considering that only 28% of Mexican women own plots on average throughout the country.
Consequently, women receive additional physical security as well as economic stability over a long period while still being able to pass down assets from generation to generation.
Financial Sustainability And Market Integration
New Story’s model achieves financial sustainability because it finances its projects through a combination of charitable giving and investment focused on social impacts.
In doing so, it serves more vulnerable populations who are traditionally excluded from various measures taken against poverty in practice.
These families are not just aid recipients but active participants in the movement from poverty to home ownership.
The organization boasts a 100% repayment rate from its land portfolio’s family base, which means that there is soundness and success behind its market-based solutions.
Innovations in Housing
Innovation forms the core of New Story’s mission. As one of the earliest NGOs to have graduated from Y Combinator, New Story brings forth leading-edge housing solutions.
They have partnered with ICON on an unprecedented project that saw the creation of the world’s first community of 3D-printed homes in Mexico.
This innovation reduces costs and construction time, making homeownership affordable to low-income families.
That is why New Story creates housing prototypes designed for lower income brackets to ensure they are both scalable and affordable.
A Path to Generational Wealth
New Story has a bigger impact than just providing immediate shelter needs for people.
By helping families access land ownership and home financing, the organization can assist them build wealth over generations.
Land ownership gives rise to credit profiles and collateralization thus allowing affordable financing for housing, entrepreneurship as well as other necessities.
By getting at the root causes of the housing deficit through such holistic methods, long-term change will be created.
New Story redefines the landscape for housing charities by using innovative and market-based strategies.
Through empowering families to own land or houses, this organization not only tackles immediate issues connected with global homelessness but also makes a difference spanning multiple generations.
Edited By Annette George
