The Shared Housing Startup Racket
Take a look at this. The cappies have found yet another way to exploit the problems and scarcities they created in the first place.
When young adults leave the parental nest, they often follow a predictable pattern. First, move in with roommates. Then graduate to a single or couple’s pad. After that comes the big purchase of a single-family home. A lawnmower might be next.
Looking at the new home construction industry, one would have good reason to presume those norms were holding steady. About two-thirds of new homes being built in the U.S. this year are single-family dwellings, complete with tidy yards and plentiful parking.
In startup-land, however, the presumptions about where housing demand is going looks a bit different. Home sharing is on the rise, along with more temporary lease options, high-touch service and smaller spaces in sought-after urban locations.
Seeking roommates and venture capital
A Crunchbase News analysis of residential-focused real estate startups uncovered a raft of companies with a shared and temporary housing focus that have raised funding in the past year or so.
This isn’t a U.S.-specific phenomenon. Funded shared and short-term housing startups are cropping up across the globe, from China to Europe to Southeast Asia. For this article, however, we’ll focus on U.S. startups. In the chart below, we feature several that have raised recent rounds.
The article goes on to point out that the rackets are all based in either California or New York, in addition to bragging about how these rackets will be around for a long time because this first-world shithole country continues to eat its young alive, as it has for several decades.
The chickens have truly come home to roost, ladies and gents. I would say that the assholes who run these rackets should be ashamed of themselves, but since when have cappies ever had any shame? These are people who would sell their families into slavery if it meant they could make a buck.