Most feel guilty when they pass a homeless person in the street and don’t do something, despite the fact that we care very much. Our sixth Great British Money Survey found that while most UK adults said they are concerned about homelessness — 72% to be precise — hardly anyone knows what they can do as an individual to help. Abundance is changing that with our housing impact sector.
A tiny 12% of people said they had found a way to change their purchasing habits to take action on homelessness, while 11% have signed a petition or taken some other form of social or political action, maybe by donating to a homeless charity (e.g. Crisis or Shelter). There are many who donate both money and time by participating in fundraisers, sporting events, or by volunteering at Christmas.
As of 2018 there’s another option. In the same way that you can invest in green energy to combat climate change, Abundance makes it possible to invest in building new affordable and social housing that can help some of those who are homeless get a warm, safe place to call home.
What’s the problem?
Figures show that since 2013 the number of rough sleepers has increased by around 15% each year. On top of this, there are almost 80,000 households in temporary accommodation because their local authority is unable to offer them a home.
In response we launched housing as an impact sector on Abundance in 2018. The aim was to give our customers the opportunity to broaden their impact by investing to create new homes with an explicit focus on giving more people access to genuinely affordable housing of a high quality.
The first homes funded by Abundance investors are already under construction. This update from Merseyside Assured Homes was provided to investors in January and there will be another in June.
Housing investments like Merseyside Assured Homes increase the number of homes available for supported living, quality temporary accommodation, or long term affordable rent. Some of the most vulnerable in our society, including those with physical disabilities and mental illness, qualify for this type of housing.
Making an impact in housing
If we can work together to begin filling the gap that councils, housing associations, and other developers are finding difficult to plug, together we will be making an almost immediate difference.
Just as with climate change and green energy, we could wait for government or business to step in and act but we don’t think that’s enough for you; it certainly isn’t for us. Now you can make a start and quickly see the impact for yourself.
In the same way that you have ditched takeaway coffee cups for a reusable one, consider investing as little as £5 in building more desperately needed social housing, because this is another problem our society faces that simply isn’t going to right itself.
As with any investment product there are risks. Part or all of your original invested capital may be at risk and any return on your investment depends on the success of the project invested in. You should be prepared to hold Abundance investments for their full term and investments may not be readily realisable. Estimated rates of return can be variable and estimates are no guarantee of actual return. Specific risks will apply in relation to each product. Consider all risks before investing and read the Offer Document for each investment.