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As home prices rise and competition for affordable homes amps up, real estate experts debate whether change will come from a housing crash — but according to Divvy Homes CEO Adena Hefets, who spoke Friday at an Inman Connect New York 2020 panel, change will come from technology.
In the past year alone, the number of homes that cost less than $200,000 fell by 18.1 percent. While builder sentiment is high, not enough new homes are being built to keep up with demand.
“The onus is on startups to educate [about alternative finance methods] and provide a new value product,” Hefets told Clelia Peters, the president of Warburg Realty and Inman’s editor-at-large, who moderated the panel.
To hear more of Hefets’ analysis, tune in to the video above, or read the original article here.