Window shopping on Redfin and Playhouse may still be our favorite leisure activity, but behind that farmhouse door is the reality of real estate right now.
Investors bought a record share of US homes in 2021, driving up prices for individual home-buyers. The info comes from a new report from Redfin. Investors bought nearly one in seven homes sold in America’s top metropolitan areas (the most in at least two decades), it says.
The report was prompted after Redfin had taken note of stories about individuals or families losing bids on home after home to cash investors. With rents high as well, would-be buyers who are priced out of the market end up spending their paychecks month to month instead.
So what’s the solution? Regulation and legislation are always an option — like one new bill introduced in California that seeks to increase taxes on house flippers.
HomeRoom introduced its solution recently too. It’s a real estate investing platform that says it offers investors the opportunity to earn 50% more, while helping renters pay 50% less.
The premise is to take the real estate buying process digital and remote, letting investors save money which should translate into lower rents. HomeRoom’s turnkey experience connects investors to everything from financing to construction managers to local teams that furnish and tech out your rental property. The team helps match investors with renters too. The startup says it’s currently at a 90+% occupancy with 99% investor retention.
The barrier to entry might still be too high for some investors, as one commenter pointed out.
But maker Johnny Stryker Wolff Jr. says the startup is competitive — ”even in this market — with [out of pocket] down payment costs from ~85k-150k.” He continued, “A core pillar of our mission is democratizing access to real estate as an investment - it's THE most recession-proof way to build wealth...”
Can HomeRoom provide an everybody-wins solution, keeping rental prices low while helping make real estate investing accessible? What do you think — ready to close, or still not sold?
"Of course, terrible things happen. But they can be reported without praying on your fears," maker Jim Morrison wrote on Charlie’s launch video today.
Charlie is an AI that talks you through the news in a calm, measured way. It helps you stay informed through a balance of local and international news.
AI builders: There's a new security standard in town and you'll need to find out what it is, if you need it, and how it works.
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