Real Estate is So High, Millennials Are Turning to Crowd Funding for Homes 7/20/17 - A Whittle Bit of Commentary

A Whittle Bit of Commentary with Chad Whittle

Below is a rush transcript (may contain errors):

The cost of homes in America’s metro areas are so outrageously high that some millennials are starting to crowdfund their homes. BusinessInsider.com reported company called Fundrise has started an investment platform called eFunds, where prospective homebuyers purchase shares for $10 per share, and the sum of the funds go to renovate homes and build new developments in their city.

When the homes are complete, those that invested in the fund have an exclusive purchase period before the homes are open to the wider public.

The advantage of investing in this is that members can receive a lower price on the home of upwards of 10 percent, but even with 10 percent off, the cost is still $700,000 to one million in the L.A. area.

I’m all for innovation and cheaper home prices, but what could really knocked off the price of homes is if local, state and the federal government got rid of all of these unnecessary regulations that are forced upon home owners. The amount saved could probably be thousands.

I’m Chad Whittle on A Whittle Bit of Commentary.

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© 2017 Chad Whittle

Background Material:

http://www.businessinsider.com/millennials-home-buying-crowdfunding-fundrise-efund-2017-7

 

Posted on July 19, 2017 .