The challenge of finding affordable housing is a nationwide issue, impacting all regions. Annually, a million new households are created, yet reasonably priced entry-level homes are becoming increasingly rare. The disparity between wage growth and inflation, coupled with the significantly higher debt burden of today's new households compared to previous generations, exacerbates the demand for affordable single-family homes. The critical question remains: Can the market meet this demand?

Currently, the median home price is around $400,000, with new construction averaging $329,000. These costs, combined with the necessity of a downpayment, more stringent financing requirements, and record breaking interest rates, make homeownership unattainable for many new households. This situation has led to a surge in single-family rentals, now comprising over 30% of all rental units in the United States. Over the last decade, the number of occupied single-family rental (SFR) units has risen by 25%.

The pressing issue is finding the most effective and swift method to provide affordable housing. This is a major concern for new households today. We have determined that capturing low interest debt by recycling existing mortgages is the most efficient strategy for delivering affordable rentals. This approach is also environmentally sustainable, as it employs local labor and uses significantly fewer materials than new construction. Additionally, it leverages existing infrastructure, avoiding the need for new roads and reducing commute times. Our technology and scale facilitate substantial efficiencies in acquisition, renovation, and property management.

Our goal is to create hundreds of affordable rental homes.