Jumpstarting Economies

The other day the CEO of OPIC came to our school to speak about OPIC’s mission and how it makes a difference around the world. One thought struck me as important. He mentioned that housing is the single most important driver of economic growth in a region. The logic that follows is that once you can afford a house, there are primary and secondary mortgage markets that help in other entrepreneurial activities. I thought housing isn’t only important as a basic unit that spurs economic activity. It is also the single most important material possession that most human beings hope to have in a life time. It leads to peace of mind, psychological stability, incremental happiness, and the confidence to go out there and do something. Just for that, everyone should have a home. It will definitely make for a better society.