Real Estate Opportunities and the Unbanked

In a world where one’s existence is invariably tied to what a piece of paper says or doesn’t say about you. From money to academics, bills, and deeds, the claims on these papers determines access and availability to both the perks and necessities of life. But what happens when you don’t have these papers or possess the required ones? Welcome to the world of the unbanked.

They are defined by the Federal Deposit Insurance Corporation (FDIC) as adults without access to formal financial institutions such as banks. These adults are unable to access credit facilities, make deposit and withdrawal, savings, credit history, and often have to resort to alternate and exploitative financial services like pawn shops and loan sharks. The exorbitant fees often accompanying these alternative services remains one of the key factors behind the vicious cycle of poverty miring the unbanked.

There are currently 2 billion such adults in the world.