We’re experiencing a generational shortage of ownership. Community Capitalism is the answer.
April 14, 2021
Together, we will empower 100 million people to own $100 billion in real estate equity in a way that’s never been possible before. Not only are we expanding access to ownership, we’re expanding access to an asset class that has traditionally excluded non-accredited investors (people who make less than $200,000 per year and/or have a net worth of less than $1 million) in the public markets. Now, everyday people like us will be able to own a fractional share of the buildings that shape our world with no costly minimums or income requirements.
By creating a new social investing experience that brings everybody in, we do more than just crowdfund real estate. We bring Community Capitalism to life.
We Need a Change
Not many of us can truly define ownership, but we all understand its importance.
Winston Churchill once said, “We shape our buildings, and afterwards our buildings shape us.” Said in the context of rebuilding a political sphere––The Commons––to facilitate bipartisan interaction and collaboration, Churchill was certainly throwing down something we can pick up. But what if we applied this logic more broadly to ownership?
What we own defines who we are and how we interact with the world. Ownership is autonomy, responsibility, and a sense of belonging to our communities. Why shouldn’t everyone be given the opportunity to experience ownership? At a time when Wall Street is propelling the prices of single-family homes higher, traditional homeownership has never been further out of reach. What’s more, opportunities to have ownership in the buildings that define our urban communities––multifamily apartment buildings––are all but untouchable...unless you’re already rich.
A large and growing percentage of millennials never plan on buying a home. And it’s not simply because the barriers to entry are just too high. The modern class of consumers value experiences, flexibility, and above all else a chance for significant ROI. While traditional homeownership provides very little in the way of this, there simply aren’t other opportunities to own a piece of our communities, or others like them.
This has caused a seismic shift from an ownership to a renting society, inherently imparting a sense of impermanence––a problem our Founding Fathers understood well. They knew that ownership has crucial implications for how we navigate the world and perceive our position in society. Not only has property ownership been one of the most reliable paths toward wealth accumulation, but it also forges a sense of responsibility within our communities.
These two forces of nature––younger generations’ preferences for experience and their lack of access to the traditional means of ownership—are at odds with the American Dream. Solving this tension will create an environment where all citizens can thrive and make our democracy stronger.
What if we could invest in the places we love without restrictive barriers to entry? What if anyone, anywhere could invest in real estate instantly with the click of a button?
At Rhove, we are making this dream a reality. Community Capitalism is a free-market system that allows friends and neighbors to lift one another up and share in the wealth created in our communities. This philosophy is built on steering our investment decisions in a direction that benefits the whole community, bringing us closer together in celebration of collaboration and our core American values. Community Capitalism is about taking wealth-creation opportunities that are traditionally reserved for the wealthy and making them available to all of us.
Our country was founded on the principles of Community Capitalism. Though we’ve strayed from them in many regards, we believe returning to these values is essential to building a bright future for our communities.
In the aspirational words of John Adams, Rhove is going to “make the acquisition of land easy to every member of society.”
Coming this Fall, you can invest in real estate in your community, and other communities like it all across the country, right from the Rhove app. We are eliminating costly minimums, doing away with prohibitive income requirements, and truly opening up access for everyone to benefit from ownership of real estate. Community Capitalism is here to stay, and it will change everything we know about ownership.