Props to Jason for asking hard, uncomfortable questions (ie about a bubble in housing prices), and following through on getting an answer. Great interview!
Home ownership is one of the best human comforts after the family. It is a vital segment of our culture for our consumers and encompasses much more than just the structure that it appears to be. A home is a place where you can take time out from the world and rest. Some people prefer their own private space, while others love to have an open concept with their family. Either way, a home provides shelter for us to live life and enjoy each other's company.
Excellent interview! Thorough for sure. Divvy is definitely on to something major. Love the mission and Adena seemed very genuine. Jason..u asked all the relevant questions, especially Divvy's model relative to PE/REIT ownership of SF rentals + "is this the new subprime?" Thoughtful answers to both. With Fed and Govt policy anchored to aftermath of GFC, policy will continue to support increasing asset prices. Loved the call option analogy bc could also act as insurance for certain would-be buyers. Without sustainable models like this it's hard to see how future homeownership rates maintain current levels, let alone increase.
Your levels of inventory of housing is pretty similar in Ireland in that we've damn all houses available, cost of materials super high and not enough builders because lots left the industry after the crash.
After all the investors buying up homes to turn them into SFRs, turning properties into Airbnbs, buying up mobile home parks and raising rents, it’s wonderful to see a company that’s making a profit while also helping people become home owners. I just hope they don’t allow people to buy multiple homes and turn them into rentals or flip them for profit. Also, to Adena’s point about helping the buyer compete with institutions, when it comes to new homes, the institutions are now simply removing the competition by contracting directly with developers to buy/build entire housing communities to be rented.
we should really be able to solve housing at this point in our evolution as a species. This is pure NIMBY nonsense that we cant build enough housing supply.... curroption and greed trumping human happiness
Great interview and what a great idea and much needed business these days. Would love to hear her thoughts/a companion interview about the box homes being made like what Elon's supposedly living in.
I love this model and it's an exciting new path to home ownership. HOWEVER: I'm pulling back on the reins because there is NO PHONE NUMBER for customers to call and get guidance or help during the buying process. This is pretty alarming to me and apparently to many customers/potential customers, given the swath of reviews I've read. Divvy really must solve this issue in order to bolster consumer confidence. It's a big blocker that should be easy to resolve.
She is awesome!!! The increase annua housing demand is 1.1 million new homes. Meaning- we must have 1.1 million starts per year just to keep up with new demand. We are behind 6 million homes currently. Last year we had less then 1 million starts If we get to 1.5 million starts per year and if we stay there (which is unlikely) it will take over 14 years to end the housing shortage! Buy more real estate!
Ultimately, the constraining resource in the housing market is land. As the prices of the house itself goes down, the price of the land it's built on goes up. Final house price remains the same for any buyer after the first buyer.
hate this business what happens when or if divvy goes bankrupt and the homeowner has synthetic equity that they now have no claims 2 since there in essence an unsecured creditor. I see massive problems here. theres no way divvy just lets the savings portion of money sit there. there definetly lending the savings at and theres potential credit and counterparty risk here where these leasees can get screwed big time.
Yeah great in a sense of how I can capitalize on the issues that I had in past by creating a trap for people in need or who do not meet the perfect criteria to get their home from a bank know as mortgage
I’m going to refer all my tenants to divvy homes if they ever come to Lexington Kentucky market. I want all my tenants to eventually own a home. However I still don’t understand as an investor why would VC invest in divvy as suppose to just use the money to gobble up houses to rent out and keep all the appreciation?
Hilarious name from a UK perspective. A "div" is an idiot (except in web dev where it's an element used for layout purposes) - when somebody is being stupid you call them "divvy"... so, is this company geared towards those of us with a room temperature IQ? I'm so happy that us divs are being catered to 😂
This interview is the reason I am going to buy a home with Divvy.
Props to Jason for asking hard, uncomfortable questions (ie about a bubble in housing prices), and following through on getting an answer. Great interview!
thanks Pal
Home ownership is one of the best human comforts after the family.
It is a vital segment of our culture for our consumers and encompasses much more than just the structure that it appears to be.
A home is a place where you can take time out from the world and rest.
Some people prefer their own private space, while others love to have an open concept with their family.
Either way, a home provides shelter for us to live life and enjoy each other's company.
This conversation was so warm...
She'll definitely make it to the unicorn status
thanks for the feedback!
Your both just created a Fantastic interview. Dedication !!!!!
Thanks so much!
thanks Brad!
Excellent interview! Thorough for sure. Divvy is definitely on to something major. Love the mission and Adena seemed very genuine. Jason..u asked all the relevant questions, especially Divvy's model relative to PE/REIT ownership of SF rentals + "is this the new subprime?" Thoughtful answers to both. With Fed and Govt policy anchored to aftermath of GFC, policy will continue to support increasing asset prices. Loved the call option analogy bc could also act as insurance for certain would-be buyers. Without sustainable models like this it's hard to see how future homeownership rates maintain current levels, let alone increase.
Found this channel recently, amazed by the content. Keep up the good work🙂
Great interview. As someone in the RE market, this rings so very true. Great concept and CEO
Your levels of inventory of housing is pretty similar in Ireland in that we've damn all houses available, cost of materials super high and not enough builders because lots left the industry after the crash.
Wait, the crash hit Europe too?🤔 Or was it a ripple effect?
I didn't know
it's crazy that humans are dealing with an issue of housing at this point in our history
After all the investors buying up homes to turn them into SFRs, turning properties into Airbnbs, buying up mobile home parks and raising rents, it’s wonderful to see a company that’s making a profit while also helping people become home owners. I just hope they don’t allow people to buy multiple homes and turn them into rentals or flip them for profit. Also, to Adena’s point about helping the buyer compete with institutions, when it comes to new homes, the institutions are now simply removing the competition by contracting directly with developers to buy/build entire housing communities to be rented.
we should really be able to solve housing at this point in our evolution as a species. This is pure NIMBY nonsense that we cant build enough housing supply.... curroption and greed trumping human happiness
what a sympathetic founder. amazing.
I love that she refuses to let J Cal compromise her customer-oriented model with his greedy, devilish thoughts
Great interview and what a great idea and much needed business these days. Would love to hear her thoughts/a companion interview about the box homes being made like what Elon's supposedly living in.
I love this model and it's an exciting new path to home ownership. HOWEVER: I'm pulling back on the reins because there is NO PHONE NUMBER for customers to call and get guidance or help during the buying process. This is pretty alarming to me and apparently to many customers/potential customers, given the swath of reviews I've read.
Divvy really must solve this issue in order to bolster consumer confidence. It's a big blocker that should be easy to resolve.
She is awesome!!!
The increase annua housing demand is 1.1 million new homes. Meaning- we must have 1.1 million starts per year just to keep up with new demand.
We are behind 6 million homes currently.
Last year we had less then 1 million starts
If we get to 1.5 million starts per year and if we stay there (which is unlikely) it will take over 14 years to end the housing shortage!
Buy more real estate!
Ultimately, the constraining resource in the housing market is land. As the prices of the house itself goes down, the price of the land it's built on goes up. Final house price remains the same for any buyer after the first buyer.
hate this business what happens when or if divvy goes bankrupt and the homeowner has synthetic equity that they now have no claims 2 since there in essence an unsecured creditor. I see massive problems here. theres no way divvy just lets the savings portion of money sit there. there definetly lending the savings at and theres potential credit and counterparty risk here where these leasees can get screwed big time.
Are the homes they offer HOA or do you have the option for none HOA properties
wow she is an inspiration
great guest for sure
Yeah great in a sense of how I can capitalize on the issues that I had in past by creating a trap for people in need or who do not meet the perfect criteria to get their home from a bank know as mortgage
Great interview. She is fanatical about product.
Adena was amazing! Any other founders you know that are as obsessed about their product and numbers? We'd love to have them on!
@@startups Hi yes indeed - DM Me on instagram @iatethefoodie
very nice
I’m going to refer all my tenants to divvy homes if they ever come to Lexington Kentucky market. I want all my tenants to eventually own a home. However I still don’t understand as an investor why would VC invest in divvy as suppose to just use the money to gobble up houses to rent out and keep all the appreciation?
On this episode of Tonight in Startups...
I really enjoyed this.
I hope Divvy kicks BlackRock's ass.
Hilarious name from a UK perspective. A "div" is an idiot (except in web dev where it's an element used for layout purposes) - when somebody is being stupid you call them "divvy"... so, is this company geared towards those of us with a room temperature IQ? I'm so happy that us divs are being catered to 😂
arbitrage??
Let me know if anyone is looking for a divvy house in Florida 😁
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this company is a scam