07 - Alternative Housing Ideas and Doubts
I go through periods of doubts and it can be paralyzing. It comes from the same part of me that questions why we do things a certain way, and could there be a better way.
This questioning also happens introspectively in what I do, my projects, and what motivates me.
A few weeks ago, I kicked up this newsletter, made some projections about frequency … then I stopped. My groove got disrupted, and I started to question the 'what' and 'why'.
Is this really what I should be focusing on?
It's funny I should ask this question - my wife Laura just came back from Long Island NY fresh from delivering a keynote titled "A life worth dying for". You'd think I'd have this kind of personal development and journey stuff all figured out.
Truth is, my mind is constantly buzzing with alternative housing ideas, I naturally gravitate towards articles and posts about housing. It's a hot topic, a compelling challenge and yet most articles are pessimistic. It's easy to get sucked in.
So instead of waiting and getting stuck in the what and why I'm just going to share some ideas, because it's dangerous to wait.
Here are 3 separate things that motivate me to push for change and new ideas around housing.
Housing can be a Product
The idea with Juno is similar to what I would envision as a development, natural materials, modular replicable construction, high quality design and build. But more importantly, sold and conceived as a product with few or no options. With the idea that the homes are of high enough quality that people won't care if they are not unique.
A standardized product introduces the possibility of volume economy, supply chain efficiency and specialized labour force.
The Vilified Renters Narrative is Changing
This is happening slowly, but you can feel the momentum building. The decision to rent is often no longer presented as an alternative to ownership - often it’s the only option. This right to housing is pushing back hard against the nimby arguments. If renting is the only option, it increases demand for better rental and expands the tenant persona. Tenants can be great neighbors, that care very much about their homes and surroundings.
Recognizing the Nimby pattern makes me think of the All-in podcast where their guest Tucker Carlson was talking about the petty fights picked by an affluent society. I'm paraphrasing, and Tucker Carlson is a master at formulating ideas. He describes a society that has prospered and goes on to make self destructive decisions. It’s time to identify the pattern and call it out.
The renting side is also getting more spokespeople and role models like Ramit Sethi. Ramit often encourages people to consider renting as the better financial decision. The ownership side has more promoters like real estate agents, mortgage brokers and even the government with their savings models. it’s nice to see a greater balance.
Private REITs are Reserved for a Select Few
I recently attended the Skyline investor appreciation dinner where a quick observation paints the demographic at 50+. Why? One reason might be the accredited investor requirement to qualify for this type of investment.
The requirement is protecting/preventing retail investors from possible financial trouble. Sounds altruistic, but retail investors are not protected. There is an unlimited buffet of high volatility investments like crypto and penny stocks accessible without restrictions. I know that these things are not the same, and it feels like it should be solved with education instead of restrictions.
Why am I doing this?
So all this brings me back to this idea of combining beautifully designed, quality rental with equity ownership. I would live in a community like this, and it feels like a good problem to try and solve.
PS. I did a quick search for the perfect rental apartment and found a beautiful one; stunning water views, large windows and a terrace. The only problem was that it’s in Copenhagen.