We Made a Promise to Strive for Deep Impact
A pandemic induced dovish approach by the world’s central banks staved off the fears of a deep recession and helped prop up global economies in recent years. However, this action was not without its consequences. Inflationary pressures ensued and produced growing year over-year inflation in the United States that neared double-digits for the first time in four decades. Housing has been unable to sidestep inflation’s crosshairs as affordability of single-family homes was dually impacted by inflation and higher mortgage rates leading to a 49.1% year-over-year increase in monthly mortgage payments. Current homeowners have been less affected with predominately fixed-rate mortgages and the benefit of an appreciating asset. However, lower income groups have not maintained that same benefit as they have seen inflation on essentials outpace wages. This had led to widening wealth inequality. Today, the top 10% of US Households by wealth have $7.0 million on average while the bottom 50% have just $51,000. The affordability crisis in housing is directly restricting the social mobility for lower income groups and we aim to help solve that.
Kairos Investment Management Company, LLC (“Kairos”) is proud to play a small role in providing care, support, and opportunities to our tenants and communities that are trying to rise above wealth inequalities in the United States. We seek to break the cycle of poverty by providing quality housing to low-and moderate-income families. We pair that with social and environmental improvement programs to provide a higher quality of life for our tenants and their communities. It is gratifying to see our actions produce a real impact at multiple levels. We continue to challenge ourselves to find new ways of providing impact to the families we serve. During the year, we partnered with an ever-growing constituency of non-profit organizations to provide our tenants and the communities we serve with financial education, career training, and tax preparation among several other programs. Our environmental programs continue to reduce energy, water consumption, and waste at our properties. We are excited to share our impact journey with you through our 2022 Annual Impact Report.*
Click here to read the full report.
* The information contained herein is for general, informational purposes only and is not intended to constitute an offer to sell or buy any securities or other assets or promise to undertake or solicit business, and may not be relied upon in connection with any offer or sale of securities or other assets.
For questions, contact investor relations at investorreporting@kimc.com or 949-800-8500.
