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He believed that investors would desert Wall Street paper for the solidity of land.
INSP supports and develops more than 120 street paper projects in 40 countries.
The first street paper was Street News in New York, launched in 1989.
A homeless man tried to sell Yauch an issue of a street paper with the Beastie Boys on the cover.
Schedia (Raft), a new "street paper" to be sold by homeless people, will come out in Greece this month.
He says his goal is to begin a street paper in Baltimore, where the recession has increased homelessness.
Similar(42)
Often, street papers barely break even.
In fact, further innovation has come through the street papers.
Street papers' coverage of poverty seems to have attracted interest lately, said Serge Lareault, chairman of the International Network of Street Papers and editor of L'Itineraire in Montreal.
"That's why in Europe the selling of street papers is comparatively a more marginal phenomenon".
He wrote the story for the Glasgow-based International Network of Street Papers (INSP).
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