Invest Like the Best with Patrick O'Shaughnessy

Alexis Rivas - A New Blueprint for Homebuilding - [Invest Like the Best, EP.326]

30 snips
Apr 25, 2023
In this insightful discussion, Alexis Rivas, co-founder and CEO of Cover, unveils a groundbreaking approach to homebuilding. He likens modular homes to 'lego pieces', aimed at addressing the critical housing shortage in the U.S. by introducing factory-based production inspired by the automotive industry. Rivas explores the integration of software for efficiency and customization, delves into the economic landscape of home construction, and shares lessons on the importance of honest feedback in driving innovation. A must-listen for anyone interested in the future of housing!
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INSIGHT

Housing Shortage Factors

  • The US has a 5 million home shortage, worsened by an aging construction workforce.
  • High interest rates exacerbate affordability, especially for first-time homebuyers.
INSIGHT

Regulatory Housing Constraints

  • Restrictive zoning in cities like Los Angeles hinders housing growth, despite high demand.
  • This regulatory issue, coupled with labor shortages, fuels the affordability crisis.
ANECDOTE

Construction Workforce Decline

  • Fewer young people pursue carpentry, plumbing, or electrical work, opting for higher education instead.
  • This cultural shift, coupled with increasing homebuilding complexity, contributes to labor shortages.
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