[An earlier version of this piece appeared in Forbes.com in December 2021.] “It’s a Wonderful Life” is a great movie but what the heck is a “Building and Loan”? At the beginning of the movie, during the 1920s, Building & Loans were huge. But by the end of the movie, right after World War 2 – in real life – most Building & Loans had already gone out of business or had been converted into Savings & Loans.
Very interesting! I didn't know that part of history.
I wonder if a financial structure like that could be used to build housing for low income people? Investors could buy 'slices' or maybe bonds that would finance the construction of the homes and the investment could be taxed at a lower rate?
Very interesting! I didn't know that part of history.
I wonder if a financial structure like that could be used to build housing for low income people? Investors could buy 'slices' or maybe bonds that would finance the construction of the homes and the investment could be taxed at a lower rate?
A fabulous story/ perspective!