What's Happening?
In the Twin Cities of Minnesota, a group of retired Baby Boomers, known as the Third Act, is actively participating in building homes with Twin Cities Habitat for Humanity. Founded in 2019 by Barry Mason, a former technology sales and marketing executive,
the group consists of retirees from various professional backgrounds who meet weekly to contribute their time and skills to constructing affordable housing. The initiative is part of a broader effort to address the housing shortage in the area, where home prices have outpaced median incomes. The Third Act not only provides volunteer labor but also financially sponsors homes, pooling their resources to support stable homeownership for families earning 50 to 80 percent of the area median income.
Why It's Important?
The efforts of the Third Act highlight the potential for retired individuals to contribute meaningfully to societal challenges, such as the housing shortage. By leveraging their accumulated wealth and skills, these retirees are helping to provide affordable housing solutions in a region where entry-level homes are increasingly scarce. This initiative underscores the importance of community involvement and the role of volunteer organizations in addressing complex social issues. The group's work also challenges the stereotype of Baby Boomers as hoarders of wealth, demonstrating a proactive approach to using their resources for the public good.
What's Next?
The Third Act plans to continue its weekly building activities and financial sponsorships, aiming to construct more homes in collaboration with Habitat for Humanity. As the housing shortage persists, the group may inspire similar initiatives in other regions, encouraging more retirees to engage in community service. The success of the Third Act could also prompt discussions on how to better integrate volunteer efforts with public and private sector initiatives to tackle housing and other social challenges.
