The Future Of Real Estate: Fintech 50 2021The Futufddfdfre Of Real Estate: Fintech 50 2021
From the abyss of an economy-stopping global pandemic, the U.S. real estate market has emerged as arguably the hottest market in the world. Low interest rates and a future of working from home, or at least more flexible office arrangements, caused many Americans to relocate to suburban areas with lower costs and a higher quality of life. The pandemic-driven shifts ignited a residential housing boom and novel financial technology played a huge role in the surging market.
HERE is the local angle this week:
A new investment opportunity debuted in Sooke this month, and while it sold out within weeks, the comments from some locals forecasted negative returns.
The company is Addy, and it positions itself as barrier-free real estate investing, allowing regular folks to invest small amounts in residential and commercial real estate. It recently bought a slice of a small 1960s apartment building at 2068 Townsend Rd. in Sooke, with 947 investors averaging $345 each.
“We're essentially enabling regular Canadians to take the place of generally one wealthy individual who would cut a half a million or a million-dollar cheque and be the investor in these types of properties. What we're doing is essentially breaking that down so everybody can invest the way a wealthy individual can invest,” Addy co-founder Steven Jagger told the Capital Daily podcast.
Investors can chip in as little as $1 to be part of a house purchase in Sooke.
But what will it mean for superheated local real estate markets
Edited by Victoria Watcher, 19 January 2022 - 03:02 AM.