The future of homeownership
Housing is the single biggest consumer household expense (rent, mortgage, maintenance, energy). Property search went digital two decades ago. But property markets are still largely functioning the same. Innovative models might change the way houses are bought, sold and owned. Opendoor made iBuying (instant buying) a big category. Since then, many variations of the iBuying model emerged (e.g. Kodit, Fly Homes, Divvy). They now have a combined valuation of $16 billion. Traditional home search platforms such as Zillow and Redfin also moved into the space. But proptech includes also online agents, lending platforms, co-living, co-working, new ownership models and more.