"I don't understand why our customers have vanished lately."
"Isn't Crassus practically monopolizing the inn business in Rome now? How are we supposed to compete with a man that wealthy?"
"Exactly. We were barely scraping by as it is..."
Following the Floralia festival and the Trojan Games, a massive influx of citizens from allied cities and the provinces had poured into Rome.
They naturally needed places to stay, and they essentially had two choices.
Sleep in the filthy, unsanitary taverns, or stay in the new, impeccably clean inns boasting excellent service.
Naturally, travelers chose the latter.
Those were the inns run by Crassus. The newly built lodgings scattered across Rome were not only pristine, but staffed by trained slaves who handled everything from laundry to meals.
"And he's practically offering free lodging to provincial nobles. How are we supposed to compete with that?"
Ultimately, the traditional tavern owners had no choice but to swallow hard and either abandon their businesses entirely or sell them off to Crassus.
But Crassus's ambitions did not stop there.
Rome was already packed to its limits.
As Rome's largest real estate magnate, his attention naturally turned to the large undeveloped area: the land across the Tiber.
The very same area Lucius Caesar had recently set his sights on.
***
"Why is Crassus buying up this land?"
"I highly doubt he uncovered our plans, Young Master," Felix said. "He began his acquisitions long before we made our move."
I nodded. Felix was right.
Crassus had been buying up land across the Tiber ever since the Floralia festival concluded.
Using the exact same strategy I was currently employing, he had been quietly expanding his holdings through a network of agents.
"Perhaps he simply intends to expand his inn business?"
"The scale of these purchases is far too massive for just that."
Was he looking beyond overcrowded Rome for a new opportunity?
Well, there was no need for me to sit here agonizing over it alone.
I just needed to go and ask the man who held the answer.
I took Felix with me and went to visit Crassus.
Crassus welcomed me with more delight than I had ever seen from him.
"I have been waiting for you, Lucius." He beamed, embracing me warmly.
"As it happens, I have a matter that requires your assistance."
"My assistance?"
"Indeed. I recently heard rumors that you have been purchasing land across the Tiber," Crassus said. "If we were to join forces, could we not accomplish something truly wonderful for the citizens of Rome?"
His genuine excitement left me bewildered.
Hmm. This was certainly not the reaction I had anticipated.
***
"Something wonderful for the citizens of Rome?"
Guided by Crassus, I walked deeper into his estate. As always, his receiving room was lavishly furnished, with expensive food and wine laid out before us.
I glanced at an ivory statue of a woman nearby. That single piece alone was probably worth an entire insula.
"You are well aware, Lucius, that the citizens of Rome are currently groaning under the crushing weight of exorbitant housing prices and rents. Every year, when landlords collect rent, countless families are driven out onto the streets."
I nodded instead of replying. It was true, but hearing those words from Crassus—Rome's largest property magnate—made them impossible to take seriously.
"To solve that crisis, my attention turned to the land across the Tiber. If we can expand Rome to those lands, could we not provide affordable housing for far more citizens?"
At Crassus's gesture, slaves brought out a massive wooden board.
Placed upon it were numerous miniature buildings, making it look like a massive scale model of a city.
"I assume you have been purchasing land across the Tiber with precisely the same vision in mind, Lucius. Am I wrong?" Crassus leaned forward and asked.
Was he testing my intentions?
There was no reason to lie here.
"That is correct. However, I had no idea you had conceived a plan so similar to mine. Could you explain the details of your vision?"
"Of course."
Crassus pointed to various sections of the diorama, continuing his explanation.
His plan was undeniably impressive. Much like my own vision, the layout centered around main thoroughfares, with shops and markets clearly separated from residential areas.
However, there was one decisive difference between our plans.
"If this comes to fruition, we will rake in an enormous fortune. The annual rental income alone will be staggering."
Crassus continued.
"And I am taking on an equally great risk. There is no guarantee this will succeed. But if it succeeds, would not affordable rents finally ease Rome's housing crisis?"
Crassus's plan, at its core, was brutally simple. Funnel massive capital into constructing housing complexes and infrastructure, then lease it out at rates that would make us a fortune.
It would yield a mind-boggling profit.
"Why are you sharing this plan with me?" I asked.
There had to be a reason he was explaining his plan so openly. By purchasing land in the same area, I was effectively a rival threatening his grand scheme.
"Let us say there are two fishermen on a river." Crassus held up two fingers. "If those two fishermen compete to catch fish from the same river, what happens? The more fish they catch, the lower the market price falls, and before long, they will have fished the river dry."
"But if the two fishermen join hands, they can limit the catch, keep prices high, and prevent the river from being fished dry."
"You are always so quick to understand." Crassus leaned back in his chair with a satisfied smirk. "Although our families are not bound by marriage, I am not foolish enough to make an enemy of you. What good would come of us warring over the land across the Tiber right now?"
"Land prices would only rise. Both of us would suffer massive financial losses."
I replied. Crassus had a point. If the two of us engaged in a bidding war over a limited supply of land, the prices would inflate to absurd levels. Joining hands to develop the land together was vastly more profitable for both of us.
However...
"I have one condition."
"What is it?" Crassus sat up straight, his eyes narrowing slightly. "The terms I proposed should already be highly lucrative for you."
"They are. But they are not lucrative for the citizens of Rome."
I looked down at the diorama resting on the table.
"If we simply construct these housing complexes and put the units on the open market, the wealthy publicani will immediately buy up every unit."
You didn't need to be a genius to foresee that.
Wealth inequality in Rome was already at catastrophic levels.
The rich, including the equites and publicani, owned nearly all of the city's valuable property and kept raising rents.
The resentment ordinary citizens felt toward them grew deeper every year.
There was a reason calls for the complete cancellation of debts resonated with the masses.
"To truly solve Rome's housing crisis, we must ensure that citizens who do not own property are given an equal chance."
If a single speculator bought up dozens of insulae just to drive up prices, this entire endeavor would be utterly pointless.
"Are you suggesting a lottery?" Crassus asked. "If we could hold a fair drawing among the applicants and sell the housing units to the winners, surely that solves the issue."
"It might. But it does not address the root problem."
A wealthy speculator could easily mobilize their family members, relatives, and acquaintances to submit countless applications under borrowed names.
Or they might simply attempt to buy the winning claims the moment they were awarded.
There was a way to solve this.
"As you said yourself, expanding Rome is an endeavor for the benefit of all Roman citizens," I said. "If that is the case, shouldn't every Roman citizen participate in the process?"
***
After concluding my negotiation with Crassus, I immediately sought out my father.
"You agreed to cooperate with Crassus?"
Upon hearing my explanation, father looked deeply intrigued.
"Crassus would not make such a proposal without a calculated scheme in mind."
"We agreed to establish a joint pool of capital to secure the necessary land. Each of us will receive a share proportional to what we invest."
"Meaning whoever invests the most capital assumes primary control."
"Using the silver I secured from Hispania, I can easily match Crassus's contribution. However..."
There was one more issue I had to consider.
"For Crassus and me to develop the land ourselves and distribute the housing to citizens... that is the sort of undertaking usually reserved for kings."
Massive public works projects like this were typically the hallmark of monarchies. From the Pyramids of Egypt to the Grand Canal of China, and even the original sewers and infrastructure projects of early Rome—they were all spearheaded by kings.
"I have a method to secure more funding than Crassus while avoiding the appearance of acting like a king."
"That sounds like it requires an incredibly complex and elaborate maneuver."
"No, quite the opposite," I replied with a smile.
In truth, housing shortages and social unrest caused by rapid urbanization were problems that had repeated themselves throughout history.
Rome was simply facing the same crisis far earlier than most. Countless Asian nations had faced the same problems as they entered the twentieth and twenty-first centuries.
And many nations had devised highly effective solutions. What if I borrowed the most suitable one?
"We give every citizen an equal chance."
"An equal chance?"
"An opportunity to become genuine partners in the project."
And I didn't mean merely the opportunity to haul bricks and lumber.
An opportunity to become genuine stakeholders in the project.
"We will grant the citizens of Rome the opportunity to open a new kind of savings account." I said. "If they deposit a small sum into this account every month, it will make them eligible to buy a unit in the new housing development."
"You have never shown much interest in banking until now, Lucius. How do citizens opening savings accounts help build a new city?" father asked with an amused smile.
"It is simple. We use those pooled savings to fund the construction of the city. This will also prevent wealthy speculators from buying up all the new homes."
It would be a special account for citizens without property of their own.
Rome already conducted meticulous censuses, giving us a fairly accurate grasp of each individual's property and wealth.
Add to that the massive database I had compiled through the insurance business, citizens of Rome who did not own homes would finally have a chance to own one.
"We will distribute the houses through a lottery open only to account holders."
"Encouraging citizens without property of their own to open accounts, then using those very funds to build the city..." Father muttered, lost in thought. "But Crassus will never accept such a proposal. It would drastically reduce his potential profits."
"The newly developed area will not consist solely of residential complexes. There will be designated areas for markets, shops, and workshops. Those commercial plots can be sold at high prices."
"Ah, then publicani can invest their capital in those commercial areas instead." Father burst into laughter. "A city built through the collective participation of the entire Republic. I cannot even begin to imagine how the Senate will react to this proposal."
With that, father leaned forward, his gaze intense.
"The plan you proposed possesses tremendous potential, Lucius. But simply presenting it to the citizens will not be enough."
"What do you mean?"
Not enough? What did he mean by that?
"As Cicero has preached endlessly, a truly great orator does not rely solely on reason and logic. Ultimately, the most crucial element is moving the hearts of the people." Father said, rising from his chair. "You have provided the spark Rome needs. I shall fan it into a blazing flame,"
For a moment, I had no idea how to react. It had been a while since I'd seen father taking matters into his own hands so directly.
What exactly was he planning to do?
"Please, keep the fire small enough that it can still be put out."
Father burst into laughter and patted me warmly on the shoulder.
"A fire only goes out once it has burned everything, my son."