SYS-CON MEDIA Authors: Pat Romanski, Liz McMillan, Yeshim Deniz, Elizabeth White, Courtney Abud

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Trump's administration contributes to a rise In homelessness. Could Rise Housing be the Answer?

NEW YORK, May 10, 2018 /PRNewswire/ -- Food, clothing, shelter. Some of the most basic needs and yet—Americans are facing a nation where homelessness is even more of a pressing reality under the Trump administration. "The administration's budget includes $6.2 billion in cuts to the U.S. Department of Housing and Urban Development. Relative to funding levels necessary for HUD in fiscal year 2017, the cuts amount to a 15 percent reduction—the largest cuts in housing aid since the Reagan administration."1 Those at risk of homelessness include victims of domestic violence as well as youth who face neglect and abuse with limited access to resources. While homelessness affects both the young and the old, youth are particularly at risk. The Center on Budget and Policy Priorities describes the cutbacks for Housing Choice Vouchers: "Because the program mainly helps extremely low-income seniors, people with disabilities, and working families with children, the cuts would hit these groups hardest, increasing homelessness and other hardships, and undermining the stability that children need to thrive and succeed."2

Homelessness and at-risk youth are both parts of a harsh reality that Monika Proffitt, CEO of Rise Housing, is all too familiar with. Rise Housing, a real estate platform that uses Blockchain technology, allows both property owners and tenants to buy and invest globally. Proffitt explains the impetus behind her social impact company: "The real reason that was behind there... was I was homeless when I was sixteen. I found myself alone at a bus station and had two dollars and thirty cents in my pocket."3 A working artist and entrepreneur, she faced further risk of homelessness as she found her beloved Seattle building, in which she and other artists resided, at risk of being sold. For Proffitt, homelessness was not just a national problem, it was a personal problem.

This is not the first time Proffitt has used her personal experience as fuel for entrepreneurial creativity; four businesses and over twenty years of investing in apartment buildings later, this serial entrepreneur debuts Rise Housing as her fifth and latest addition. She explains how Rise Housing deals with only debt-free properties, so that transactions can take place independent of banks. The concept of engaging with debt-free properties will allow property owners to sell buildings to future investors, or apartments to future tenants, all without costly transaction fees.

In addition to the easily accessible platform, Rise Housing embraces a global market; users can browse international properties as well as gain access to the historical and current data of properties in order to gain further financial insight information. This kind of open transparency is a further testament to Proffitt's mission: to create a real estate market that keeps the perspective of the tenant in mind, a market where both the little people, and big people alike, can all own something together. Learn more at https://risehousing.io, ends soon.

1 https://www.citylab.com/equity/2017/03/trumps-proposed-budget/519801/ 
2 https://www.cbpp.org/blog/trump-budget-would-increase-homelessness-and-hardship-in-every-state-endfederal-role-in 
3 https://risehousing.io/press/

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SOURCE Rise Housing

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