[From the archives] Struggling to afford your first home? This Jewish-backed investment firm want...

This episode originally aired Oct. 15, 2024.



On the night of Oct. 16, 2024, Jews around Canada welcomed the holiday of Sukkot, having erected temporary wooden or cloth structures outside their synagogues and homes. While celebrating in their makeshift shacks, many told stories of the huts that ancient Israelites lived in after their exodus from Egypt.



Meanwhile, in modern-day Canada, a different kind of exodus is happening across the country: young Jewish families, along with Canadians of all stripes, are finding themselves priced out of the housing market, fleeing their home cities to find affordable houses in ever-farther destinations. While the cost of a sukkah kit may seem steep these days, in the hundreds or low thousands, it pales it comparison to the national average cost of a house: nearly $650,000.



As a result, housing organizations are stepping in to find creative solutions. One such company with deep Jewish roots is Ourboro, whose COO, Eyal Rosenblum, is the son of Israeli immigrants. The company essentially buys a stake in your house by lending you up to $250,000 for your down payment. Whatever the percentage of the down payment is, that’s what you’ll have to pay them back once you sell. The idea has caught on, with real estate developer Miles Nadal having joined Ourboro as a key investor. Eyal Rosenblum joins The CJN Daily to explain how this concept can help some Canadians afford homes, and why his Jewish values align with the idea.



Credits




•


Host and writer:
Ellin Bessner (
@ebessner (  / ebessner  )
)




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Production team:
Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer)




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Music:






Bret Higgins (https://www.brethiggins.com/)



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