This Week in Startups Redfin CEO Glenn Kelman on the current state and future of the US housing market | E1261
Aug 6, 2021
Glenn Kelman, CEO of Redfin and an innovative force in real estate, dives into the current U.S. housing landscape. He discusses the impact of remote work on homebuying trends and the generational shifts in work-life balance. The conversation touches on 'nimbyism' in progressive San Francisco and the urgent need for more housing supply. Kelman also shares insights on how Redfin is redefining real estate operations and the technological shifts driving market changes, all while addressing the challenges faced by today’s homebuyers.
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Early Career Advice
- Glenn Kelman sought Jason Calacanis's advice during a difficult time with investors.
- Calacanis's direct advice helped Kelman persevere, highlighting the value of their friendship.
Housing Crisis Analysis
- The current housing crisis is a result of two key trends: existing issues coming to light and a shift in the housing market.
- The ability for tech workers to live anywhere, fueled by remote work, has disrupted affordability in smaller cities.
Remote Work Prisoner's Dilemma
- During the pandemic, companies like Netflix and Apple initially resisted remote work, unlike more flexible competitors.
- This created a "prisoner's dilemma," ultimately leading to wider acceptance of remote work as companies sought to retain talent.