My idea is some non profit gets setup to manage a system where someone announces their mortgage and then they can have friends, family and second and third degree friends and families finance your loan.
Let’s say someone buys a $250k house. Each person puts in $100 and then they get a receipt showing they are owed $200 against their 1/2500th share of the mortgage. Repayments are paid the $200 in return in a random time frame of between the first month to the last month 30 years later. Repayment is completely randomized, meaning you could get your money back really soon… Or a really long time from then.
There are a lot of other ways you could build on this idea.
Well one of the other 2,500 people might, so it’s there to give the legal protections they need to recoup their investment. But I agree, a majority of people wouldn’t see it as an investment. I would have no problem giving dozens of acquaintances $100 if I knew for sure it would lead to them getting a house.