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Click the photo! As civic-minded Christians, we should encourage churches, synagogues and other private charitable organizations to construct co-op communities where they can help the disabled, the elderly and the inner-city poor as well as middle-class families to purchase shares for their living unit in such a community. The leaders of each community, after helping the poor find jobs and improve their skills, should teach and train them on how to live within their means on a budget, have their monthly payments deducted from their bank account, and do their share in their community.
Six-year loans at 5% per annum enable the poor to have their own home and build up equity quickly. Thus they can break out of the cycle of poverty and move up the economic ladder. Paying for a modest home in six years greatly reduces the total amount of interest paid: only 16% over 6 years, compared to nearly 100% interest over a 30-year mortgage. Why are the 1% ultra-rich and 50% of the rest are poor? Because the poor don't understand compound interest, so they give their money to the rich!
Owning property gives the poor a stake in society's future, and having one's own home creates a safe space to raise a family. It also enables them to become financially independent, not dependent on the state for the rest of their lives.
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