This Week in Startups
Glenn Kelman on Market Trends, Home-Buying Hacks and Redfin Insights | E1871
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.
38:49
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Quick takeaways
- The current housing market in the United States is causing discontent among younger generations due to a lack of affordable housing, resulting in delayed family formation and a sense of discontentment among young professionals.
- To address the housing affordability issue, it is crucial to increase housing supply by overcoming obstacles such as regulatory regimes, zoning restrictions, and environmental reviews, alongside efforts to tax unused land and provide stability in building loans.
Deep dives
Housing shortage creates discontent for young generation
The housing market in the United States is causing discontent among the younger generation due to the lack of affordable housing. Many young people are struggling to buy a home, despite having good jobs and dual six-figure incomes. The affordability issue is exacerbated by a four-decade low in housing affordability and a shortage of approximately five million homes. This has led to a delay in family formation and a sense of discontentment among the TikTok generation, as they struggle to achieve milestones like getting married or owning a home.
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