Why addressing the housing crisis is so critical to America's future #38

Hi Everyone and Welcome Back!

This week on The Nick Halaris Show we are featuring civic leader, Laura Foote.  Laura is a Founder and the Executive Director of Yimby Action, an innovative non-profit pro-housing advocacy organization.  From humble beginnings organizing pro-housing campaigns in San Francisco, Laura and her colleagues at Yimby Action have become some of the most powerful voices in the local political battles over housing that are raging across the country.   As a civic activist with an impressive track record of success, she’s fast becoming one of the most important voices for those looking to make the world a better place.

Ready to dive in? Listen to this episode on Apple Podcasts, Spotify, Google Podcasts, Amazon Music and Youtube or on your favorite podcast platform.

I wanted to have Laura on the show to learn what she’s been seeing and hearing on the frontlines of the now nationwide battle against the NIMBY forces and broken/corrupt local politics that are standing in the way of progress.  Housing, a meta-issue of American politics, is fast becoming the key battleground in the fight over the future of America and Laura’s story should leave us all feeling optimistic.  Turns out that passion and some innovative grassroots organizational efforts can go a long way in bringing about change in our democratic processes.  In this fascinating episode, we cover:

  • Why engaging in local politics and forming a strong community of pro-housing activists is so crucial and effective in advocating for change.

  • How lawsuits and legal measures can be effective tools in challenging discriminatory practices and advocating for more housing.

  • How high housing costs contribute to the lack of opportunity and bitterness in American society, particularly in rural communities.

  • Why the connection between homeownership and middle-class wealth has been severed, leading to a divergence in financial trajectories between generations.

  • Why affordable housing is essential for addressing intergenerational wealth disparities and providing opportunities for financial stability.

  • & Much, much more

Stay tuned to the end to hear Laura’s fascinating take on why the housing affordability crisis is responsible for the fracturing of American society and some bold ideas on what we should to do help, both from a policy perspective and in our individual capacity as citizens.

As always, I hope you all enjoy this episode.  Thanks for tuning in!     

Nick Halaris

I’ve been fascinated by investing for as long as I can remember. As a kid, I would read the Wall Street Journal, the Economist and Barron’s, pouring over the data tables, stories and interviews with a passion and an insatiable kind of curiosity. As I grew into adulthood, I struggled to find the right outlet and channel for this passion and spent much of my twenties wandering and trying out different things. I had a very brief career as an attorney, spent some time as a strategy and leadership consultant for big multinational companies, failed in an attempt to start a hedge fund, and even ended up helping run a scrap metal recycling operation for a while.

At the age of 30 though, I took my stand. I made up my mind that no matter what I was going to be an entrepreneurial investor. As crazy as it sounds, I owe everything in my life to this one foundational decision—even my amazing wife and my beautiful kids. I don’t think I would ever have met Alicia had I not made this one choice. At that moment in time, the financial world had just been devastated by the crash in the housing market and the near systemic failure of the global banking system that followed. I’ve always had a contrarian bent to my investment thinking; so, to me the carnage in real estate looked like an opportunity.

It all started with one house in Compton California. The business plan was simple: buy a distressed foreclosed home from a bank, bring it back to life with a big renovation and sell it to a first-time homebuyer. Things progressed slowly as they tend to do with real estate. In the first years of this, I think I did 6-7 homes. But then after plugging away day-by-day, suddenly it seemed, things just came together. I found the right investors and the right loans and the right deals and in just a few short years I ended up investing in over 100 such transactions, building a portfolio of almost 2,500 multifamily units and creating a fully vertically integrated real estate company with almost 100 employees.

Fast forward to today and I’m running the second evolution of my entrepreneurial investing career and having so much fun that I have to stop and remind myself that this is all real.

http://www.nickhalaris.com
Previous
Previous

How to make immigration work for America #40

Next
Next

How to Solve the Big Problems of Modern Democracy #37