Did you know that at least five million homes are needed in the United States to solve the housing problem?
It is no coincidence that you have seen more than one meme on social media about the impossibility of new generations to buy a home of their own. Anyone looking for a home today knows that the options are almost nonexistent.
According to a 2021 Realtor.com study, the supply of homes for sale in the United States is near an all-time low, and the gap between supply and demand is widening.
The U.S. is short 5.24 million homes, up 1.4 million from the 2019 gap of 3.84 million. The U.S. Census found that 12.3 million U.S. households were formed from January 2012 through June 2021, but only 7 million new single-family homes were built during that time.
Meanwhile, millions of people are homeless or at risk of homelessness across the country.
“On any given night in America, there are over 500,000 people sleeping on the streets even though studies show that increasing access to permanent housing has the potential to reduce homelessness by 50%,” said Vernon J., founder, and CEO of EquityCoin. “This is the crisis of our time, and we need more public and private programs that can directly address this basic necessity.”
Founded as a public benefit corporation, EquityCoin, Inc. created the first digital token on the blockchain-backed by affordable housing. The company provides apartments for those at risk of homelessness while helping community members build generational wealth through fractional real estate ownership.
Vernon, a commercial real estate professional and investor with more than 16 years of experience, and more than $150 million in transactions, launched EquityCoin in January 2021 after renting one of his units in the East New York neighborhood of Brooklyn, NY, to a mother and son living in a shelter, he explained in a press release.
“I saw tears of joy in her eyes when I handed her the…
