[Applause]
Matt what the fours would look like what
colors would the walls be what would the
outside look like imagine every part of
your dream home
perhaps your dream house looked a little
like this this house recently sold for
$275,000 now what if I told you that
each semester the average college
student is paying for the equivalent of
a $275,000 house but will not be owning
that house anytime soon
would you believe me let’s take a look
according to the College Board the
average college student will pay five
thousand two hundred twenty dollars per
semester just for housing now if we
divide that number by four months it
comes out to be about thirteen hundred
dollars per month to make this
comparable to a mortgage we use the
current interest rate of around four
percent and calculated out for 30 years
this turns out to be a two hundred
seventy five thousand dollar house in
other words the average college student
really is paying for that house but
isn’t getting the two hundred seventy
five thousand dollar house I am
passionate about liberating people
financially that is my purpose that is
my cause and that is my belief and when
I notice how much these college students
are paying for housing it just didn’t
seem right to me
it doesn’t seem right to me that so many
people are stuck financially I realized
that we had to do something different
I noticed that since student housing
costs are the second largest expense of
a college education it’s also a major
cause of student loan debt these student
housing costs are the chains holding
millions of students captive those
chains inhibit potential and those
chains prevent progress they really
limit the future for everyone and to
prove this point let me tell you a story
I met Rachel and my first day of work at
my new job we were hired on at the same
time at the local credit union
right away I noticed Rachel’s work ethic
and her determination she left home and
was making do with what she had she was
paying her way through college and was
saving every penny that she could she’d
been a maid for a hotel later she was a
nanny for a family of 14 yes 14 she
later got the job at the credit union
however one thing surprised me Rachel
was obviously very determined to finish
college but one day Rachel told me that
she had a quit college for a semester I
asked her the reason why and she said
that she couldn’t afford her housing
costs I asked her the reason why and she
said that that because of housing Casas
were so substantial she had to she
actually had to stay with her sister for
that semester and could only take a
couple of classes online a similar
circumstance happened a semester later
rachel has saved up almost enough money
to go back to college the only thing
holding her back was once again housing
costs rachel learned that an apartment
that she was interested in offered money
for every friend referred show so she
ended up referring three friends and
saved $600 however without those
referrals rachel would have had to sit
on the sidelines of college once again
the sad truth is that there are hundreds
of thousands of students just like
rachel who are burdened down by student
housing costs perhaps you have a friend
or a family member who has been in the
same bleak circumstance maybe you’ve
been there yourself
whoever maybe we need to help these
individuals we need to help these
individuals and liberate those held
captive now we don’t have to continue in
the status quo we can break the bands of
debt we can open the door of opportunity
and the solution I believe is through
housing cooperatives as I was working
for be high federal credit union I had a
thought
what if student housing work
like a credit union what if those that
live there own the apartment and pooled
their resources together could this
provide a solution to the student
housing crisis I began to do some
research and found out that this idea is
called a cooperative cooperatives have
existed for nearly 200 years and the
co-operative movement is credited to the
Rockdale Society of a global pioneers
this co-op was established during the
Industrial Revolution and many of its
members had been replaced by machines
they’d lost their jobs they had trouble
providing for their families so they
decided to come together they decided to
pool their resources together and they
had a common goal their common goal was
to provide a service rather than receive
a profit as they pull their resources
together this gave the members financial
leverage that they otherwise would not
have had by themselves this co-op also
established principles that every other
co-op follows today and as I realized
that I wanted to see if those same
principles could apply to housing and
provide a solution so I began searching
for housing cooperatives that were
already functioning according to the New
York Times around 80 percent of them of
the Manhattan real estate market our
housing cooperatives
I also learned of the success of actual
student housing cooperatives that are
already functioning now according to
u.s. news these percentages that I’m
about to show you are what current
students are saving as a respective
universities through living at these
student housing coops compared to
regular housing so let’s take a look at
Ohio State University forty-three
percent at the University of Michigan 49
percent the University of California 59%
and at the University of Florida 76
percent savings that’s absolutely
amazing that’s like going to your
favorite store finding something that
you’ve been dying to get you find it for
half off
what do you do you buy it of course you
can tell your spouse about it later
I’m sure though they’d love to hear this
story but the reason is because it is
such a great deal and that’s what these
housing cooperatives can do and not only
can these housing cooperatives benefits
students but they can also benefit many
other people who struggle financially
due to high housing costs this can solve
financial crises for people around the
world now I’m not suggesting that
everyone has to live in housing co-op
what I do believe however is that these
coops these cooperatives are powerful
vehicles in which we can liberate
millions of people financially and that
is my purpose that is my cause that is
my belief and these housing co-ops are
just one way to accomplish that belief
because they can and do work and since
these housing co-ops are working you may
be wondering what are the key components
that allow them to provide housing as
such a reduced cost you may be wondering
how do they even work just think of a
group of penguins when the weather gets
cold
the Penguins huddled together
cooperating in order to survive you know
this metaphor could be quite literal
here in Chile Rexburg I know as some of
you may have with me on that one but the
same idea applies to coops when everyone
cooperates everyone benefits and that is
the most essential idea just a group of
people coming together with a common
goal to provide a service rather than
receive a profit and that’s how these
housing cooperatives begin to start just
like in the Rockdale pioneers example
these coops begin with a common goal in
mind they want to provide a service they
want to solve a problem and so they form
a nonprofit organization to start and
they select a piece of real estate where
they like to live at now funding for
this property can be achieved through so
many different ways there are so many
different grants that are available and
this is all done democratically as
everyone as a member of the coop
as I say once the property is purchased
shares of the coop are purchased by the
members now this share is similar to a
leasing agreement in a way you don’t
actually own the physical space where
you live rather it gives you the right
to live there and let you be a member of
the coop once you’re living at the co-op
you share the cost of living with the
other members remember its to provide a
service rather than receive a profit
these costs are not profit driven as
they are at other housing complexes
that’s the difference and as you share
those costs of living with the other
members the possibilities of future
improvements are also possible because
that monthly cost that you have goes
back into improving the coop all of that
extra income goes back into benefiting
the coop and benefiting its members so
let’s say that after a few years you’ve
saved up enough money to buy your own
house so you can sell your share of the
coop this could be at a higher price
than you bought a for or it could be at
a set price that the coop has
established either way you end up
recovering your initial investment or it
could even make a profit now this is
exactly why housing cooperatives are a
powerful way to liberate people
financially they can elevate people’s
circumstances they can take them from
the lowest points in their life and they
can elevate them to higher places that
they couldn’t have even dreamed about
and that’s what I believe in I believe
in helping those people because they’re
all around us and they all need our help
do you see the difference now do you see
the difference of what the status quo is
and where we could be I hope with that
we can see that the benefits are
possible but they are only possible if
we do something about it we can’t just
sit here and say well that’s a great
idea we have to take action and there
are so many ways that you too can be a
part of this housing revolution we can
all be a part of this movement you can
learn more about housing cooperatives
and educate yourself you can find an
existing co-op and be a part of the
revolution
and also we can create our very own
cooperative right here or wherever you
might be and you can make a difference
in so many people’s lives we just have
to come together and cooperate now my
hope is that you two will realize that
change is possible it is within our
grasp there are so many possibilities
and so many people that we can help we
just have to do something about it and
many times we do nothing because we fear
change we fear our own potential and to
conclude my hope with this last quote
this is one of my favorite quotes and I
hope that this quote will spark and
ignite the the fire in your hearts so
that you too can make a difference
because you really can you can make a
difference and can liberate people
financially in any way really so to
conclude I want to share with you a
quote from Benjamin Franklin now he was
a man that knew about revolutions all
too well and he said quote all mankind
is divided into three classes those that
are a moveable those that are movable
and those that move close quote now my
question to you tonight is are you a
person that moves thank you
[Applause]
Matt what the fours would look like what
colors would the walls be what would the
outside look like imagine every part of
your dream home
perhaps your dream house looked a little
like this this house recently sold for
$275,000 now what if I told you that
each semester the average college
student is paying for the equivalent of
a $275,000 house but will not be owning
that house anytime soon
would you believe me let’s take a look
according to the College Board the
average college student will pay five
thousand two hundred twenty dollars per
semester just for housing now if we
divide that number by four months it
comes out to be about thirteen hundred
dollars per month to make this
comparable to a mortgage we use the
current interest rate of around four
percent and calculated out for 30 years
this turns out to be a two hundred
seventy five thousand dollar house in
other words the average college student
really is paying for that house but
isn’t getting the two hundred seventy
five thousand dollar house I am
passionate about liberating people
financially that is my purpose that is
my cause and that is my belief and when
I notice how much these college students
are paying for housing it just didn’t
seem right to me
it doesn’t seem right to me that so many
people are stuck financially I realized
that we had to do something different
I noticed that since student housing
costs are the second largest expense of
a college education it’s also a major
cause of student loan debt these student
housing costs are the chains holding
millions of students captive those
chains inhibit potential and those
chains prevent progress they really
limit the future for everyone and to
prove this point let me tell you a story
I met Rachel and my first day of work at
my new job we were hired on at the same
time at the local credit union
right away I noticed Rachel’s work ethic
and her determination she left home and
was making do with what she had she was
paying her way through college and was
saving every penny that she could she’d
been a maid for a hotel later she was a
nanny for a family of 14 yes 14 she
later got the job at the credit union
however one thing surprised me Rachel
was obviously very determined to finish
college but one day Rachel told me that
she had a quit college for a semester I
asked her the reason why and she said
that she couldn’t afford her housing
costs I asked her the reason why and she
said that that because of housing Casas
were so substantial she had to she
actually had to stay with her sister for
that semester and could only take a
couple of classes online a similar
circumstance happened a semester later
rachel has saved up almost enough money
to go back to college the only thing
holding her back was once again housing
costs rachel learned that an apartment
that she was interested in offered money
for every friend referred show so she
ended up referring three friends and
saved $600 however without those
referrals rachel would have had to sit
on the sidelines of college once again
the sad truth is that there are hundreds
of thousands of students just like
rachel who are burdened down by student
housing costs perhaps you have a friend
or a family member who has been in the
same bleak circumstance maybe you’ve
been there yourself
whoever maybe we need to help these
individuals we need to help these
individuals and liberate those held
captive now we don’t have to continue in
the status quo we can break the bands of
debt we can open the door of opportunity
and the solution I believe is through
housing cooperatives as I was working
for be high federal credit union I had a
thought
what if student housing work
like a credit union what if those that
live there own the apartment and pooled
their resources together could this
provide a solution to the student
housing crisis I began to do some
research and found out that this idea is
called a cooperative cooperatives have
existed for nearly 200 years and the
co-operative movement is credited to the
Rockdale Society of a global pioneers
this co-op was established during the
Industrial Revolution and many of its
members had been replaced by machines
they’d lost their jobs they had trouble
providing for their families so they
decided to come together they decided to
pool their resources together and they
had a common goal their common goal was
to provide a service rather than receive
a profit as they pull their resources
together this gave the members financial
leverage that they otherwise would not
have had by themselves this co-op also
established principles that every other
co-op follows today and as I realized
that I wanted to see if those same
principles could apply to housing and
provide a solution so I began searching
for housing cooperatives that were
already functioning according to the New
York Times around 80 percent of them of
the Manhattan real estate market our
housing cooperatives
I also learned of the success of actual
student housing cooperatives that are
already functioning now according to
u.s. news these percentages that I’m
about to show you are what current
students are saving as a respective
universities through living at these
student housing coops compared to
regular housing so let’s take a look at
Ohio State University forty-three
percent at the University of Michigan 49
percent the University of California 59%
and at the University of Florida 76
percent savings that’s absolutely
amazing that’s like going to your
favorite store finding something that
you’ve been dying to get you find it for
half off
what do you do you buy it of course you
can tell your spouse about it later
I’m sure though they’d love to hear this
story but the reason is because it is
such a great deal and that’s what these
housing cooperatives can do and not only
can these housing cooperatives benefits
students but they can also benefit many
other people who struggle financially
due to high housing costs this can solve
financial crises for people around the
world now I’m not suggesting that
everyone has to live in housing co-op
what I do believe however is that these
coops these cooperatives are powerful
vehicles in which we can liberate
millions of people financially and that
is my purpose that is my cause that is
my belief and these housing co-ops are
just one way to accomplish that belief
because they can and do work and since
these housing co-ops are working you may
be wondering what are the key components
that allow them to provide housing as
such a reduced cost you may be wondering
how do they even work just think of a
group of penguins when the weather gets
cold
the Penguins huddled together
cooperating in order to survive you know
this metaphor could be quite literal
here in Chile Rexburg I know as some of
you may have with me on that one but the
same idea applies to coops when everyone
cooperates everyone benefits and that is
the most essential idea just a group of
people coming together with a common
goal to provide a service rather than
receive a profit and that’s how these
housing cooperatives begin to start just
like in the Rockdale pioneers example
these coops begin with a common goal in
mind they want to provide a service they
want to solve a problem and so they form
a nonprofit organization to start and
they select a piece of real estate where
they like to live at now funding for
this property can be achieved through so
many different ways there are so many
different grants that are available and
this is all done democratically as
everyone as a member of the coop
as I say once the property is purchased
shares of the coop are purchased by the
members now this share is similar to a
leasing agreement in a way you don’t
actually own the physical space where
you live rather it gives you the right
to live there and let you be a member of
the coop once you’re living at the co-op
you share the cost of living with the
other members remember its to provide a
service rather than receive a profit
these costs are not profit driven as
they are at other housing complexes
that’s the difference and as you share
those costs of living with the other
members the possibilities of future
improvements are also possible because
that monthly cost that you have goes
back into improving the coop all of that
extra income goes back into benefiting
the coop and benefiting its members so
let’s say that after a few years you’ve
saved up enough money to buy your own
house so you can sell your share of the
coop this could be at a higher price
than you bought a for or it could be at
a set price that the coop has
established either way you end up
recovering your initial investment or it
could even make a profit now this is
exactly why housing cooperatives are a
powerful way to liberate people
financially they can elevate people’s
circumstances they can take them from
the lowest points in their life and they
can elevate them to higher places that
they couldn’t have even dreamed about
and that’s what I believe in I believe
in helping those people because they’re
all around us and they all need our help
do you see the difference now do you see
the difference of what the status quo is
and where we could be I hope with that
we can see that the benefits are
possible but they are only possible if
we do something about it we can’t just
sit here and say well that’s a great
idea we have to take action and there
are so many ways that you too can be a
part of this housing revolution we can
all be a part of this movement you can
learn more about housing cooperatives
and educate yourself you can find an
existing co-op and be a part of the
revolution
and also we can create our very own
cooperative right here or wherever you
might be and you can make a difference
in so many people’s lives we just have
to come together and cooperate now my
hope is that you two will realize that
change is possible it is within our
grasp there are so many possibilities
and so many people that we can help we
just have to do something about it and
many times we do nothing because we fear
change we fear our own potential and to
conclude my hope with this last quote
this is one of my favorite quotes and I
hope that this quote will spark and
ignite the the fire in your hearts so
that you too can make a difference
because you really can you can make a
difference and can liberate people
financially in any way really so to
conclude I want to share with you a
quote from Benjamin Franklin now he was
a man that knew about revolutions all
too well and he said quote all mankind
is divided into three classes those that
are a moveable those that are movable
and those that move close quote now my
question to you tonight is are you a
person that moves thank you
[Applause]
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