All-In with Chamath, Jason, Sacks & Friedberg #AIS: Divvy Homes CEO Adena Hefets breaks down the state of the US housing market
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May 29, 2022 Adena Hefets, CEO of Divvy Homes, shares her insights on the current state of the US housing market. She discusses the widening wealth gap and the challenges of homeownership in today's economy. Adena contrasts today’s market with that of 2008, delving into potential risks of a downturn. She also highlights an innovative model aimed at enhancing access to real estate for buyers. Throughout, her founder's journey reveals the balance between growth and caution in the face of market dynamics.
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Adena's Family Home
- Adena Hefets' parents immigrated to the US and couldn't get a mortgage.
- Seller financing enabled them to buy a house, raise a family, and pay for their children's college.
Wealth Inequality
- Wealth inequality is rising across America, with the top 50% owning 99% of the wealth.
- The rich get richer through asset appreciation, while the poor remain stagnant.
Asset Appreciation
- Salary differentials are not the primary driver of wealth disparity, access to assets is.
- Assets like stocks, housing, and small businesses offer higher returns.