This Week in Startups

Glenn Kelman on Market Trends, Home-Buying Hacks and Redfin Insights | E1871

7 snips
Dec 27, 2023
Glenn Kelman, the CEO of Redfin, shares his expertise on navigating the complex real estate market. He offers vital tips for first-time home buyers, discusses innovative housing solutions like developer homes, and raises awareness about the housing crisis. Kelman highlights the impact of second homes and suggests creative strategies for builders to create affordable housing. The conversation also reflects on how younger generations can find happiness in simpler ownership goals, all while adapting to the evolving marketplace.
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INSIGHT

Atypical Housing Correction

  • The 2023 housing market correction was unique.
  • It resulted in a standoff between buyers and sellers, unlike previous corrections.
ADVICE

Long-Term Homeownership

  • Base home-buying decisions on how long you plan to stay, not market timing.
  • Transaction fees make short-term homeownership costly.
INSIGHT

Millennial Housing Woes

  • Millennials own less than 20% of national wealth, compared to baby boomers who owned 30% at a similar age.
  • Housing affordability is at a four-decade low, contributing to discontent.
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