Post 21. Housing Note 01

New Story - "From Vacant Land to Thriving Communities"

Over the past few weeks, I’ve been increasingly focused on housing accessibility, both within the U.S. and abroad. I’ve been trying to wrap my head around what actually makes housing affordable. What has to exist for a family to actually move into a safe, permanent home they can afford?

While digging into that question, I came across New Story—a 501(c)(3) nonprofit working in Latin America. This initiative has really caught my eye.

The core issue New Story is addressing is that families aren’t just priced out of construction; they’re priced out of land itself. In the regions where they work, lots near cities are often 10x more expensive than what low-income families can afford. Even when land is technically available, most families can’t access loans to purchase it. Roughly 70% of adults in Latin America are unbanked, per New Story.

So instead of starting with homes, they start by fixing the land problem. They acquire large parcels, build out infrastructure—roads, water, sewage, electricity—and sell finished lots directly to families through fixed monthly payments over ≈ two years.

Once a family finishes paying, they receive legal title to the land. That title becomes collateral—meaning that, and often for the first time, they can qualify for home financing from local banks or microfinance institutions. Some families use a housing prototype developed by New Story while others build themselves.

The economics are structured to work. Because New Story controls land acquisition and development, they’re able to sell at prices families can actually afford, while keeping repayment rates high. So, does it work? Here’s what the data looks like right now:

• 100% repayment rate across their land portfolio

• 60% of landowners are women (vs. 28% nationally in Mexico)

• Land values have grown by 2x post-development in some communities

• 15,000+ people housed

• 10,000 more families targeted in the next three years

I think those results speak for themselves.

Ultimately, New Story’s model is built on the idea that if you want a different outcome, you have to start at a different point. Not with the house, but with the conditions that make one possible: land access, basic infrastructure, and a way into the financial system.

With the support of Y Combinator, the World Economic Forum, Goldman Sachs, and advisors like Alexis Ohanian (co-founder of Reddit), I think this is just the start for New Story. I’m hoping to learn more about their work and would love to get involved in some way in the near future. If you are interested in checking out their website, here is the link.

Hope everyone has an amazing final week of July and great start to August.

Best,

Jack

[All data and statistics were pulled from the New Story website. Please reference the link I added above.]