technology making property buying possible for average person - cctv camera housing price
In cities like Toronto and Vancouver, real estate has become a competitive area.
We have got used to the stories of families who have gone above and beyond the communities that have been established and who are loved become expensive playgrounds.
In the process, people with good jobs are locked out of the dream of having a house in the community they live in.
Although markets in these cities have cooled down as the government has taken steps to curb runaway housing prices, a significant proportion of the population still cannot own housing --
The core area of the city is small, coupled with the continued demand for housing in some of the most livable cities on Earth.
With all this in mind, it's no wonder that words like "Realtors" or "investors" draw malice from so many people who are trying to gain a foothold in what they call home.
Even if I was defeated by the industry, I built my career in real estate technology.
But I believe there are other options.
The key is to democratize ownership by using technology so that everyone can get the economic returns that owners enjoy.
In the process, it is possible to accept a new investment model --
A community that allows investors to decide what kind of housing their money will help create and therefore what kind of it is.
LendingClub, Airbnb, Lyft, Taskrabbit, and similar shared platforms have shown that when you take the middleman away from the trading process and switch to smart, scalable technology,
There is no need to pay the fees to the intermediary, and the price of the end user will drop.
In addition, the transaction becomes more human due to direct interaction between buyers and sellers rather than through company representation.
Real estate can do the same.
Commissions can increase the price of a house by tens of thousands of dollars.
In popular markets that are usually less than a week on the market, sometimes doing a small amount of work will charge this fee. (
I hired a real estate agent to sell an apartment.
Performed for our planned open day but he still tried to charge me a $55,000 service charge. )
Coupled with legal and other administrative costs, prices will continue to rise.
But technology, including artificial intelligence and blockchain, can now reduce reliance on real estate agents, brokers and lawyers and reduce costs.
For example, a trusted, transparent transaction is allowed to be executed without a third party.
Just as online platforms subvert and simplify other traditional platforms, the time has come to simplify the real estate market.
In fact, this solution is within reach.
But at a deeper level, the same technology can be used to create an environment where anyone can invest in real estate.
One fundamental unfairness of the housing boom in Vancouver and Toronto is that people have to be rich to invest in one of the most desirable assets.
Even if the market falls, residential property is among the best markets.
According to a comprehensive new study by the University of California, performance and the most stable investment, the average annual return rate is about 7. Davis.
In the hot real estate market, the return may be much bigger than that.
By contrast, the average annual return on GIC is about 4%, compared to the paleness of investment tools available to those who don't have $1 million.
However, the situation is beginning to change.
The online platform is a pioneer way of crowdfunding real estate investment so you don't have to be a millionaire to invest.
Purchase of property shares (
In some cases, just $1)
Anyone can enter the market.
I know many people think that the last thing the real estate market needs is more investors.
It may be true if we stick to the status quo.
Speculation in some places has played an important role in driving up house prices, bringing them to an unsustainable level for ordinary people.
But the system can be re-invented and brought back to Earth.
The reality is that real estate will always be an attractive investment.
There are few other opportunities for such a generous return.
There will always be people stepping in and taking advantage of development opportunities.
There is a way for those who may not be able to or want to own their own home in Vancouver, and Toronto or other popular markets will still share the extraordinary wealth created by these markets.
Technology and innovation can make real estate investment fairer and provide an opportunity for our city to redevelop.
We have seen the potential of new technologies, from carpooling to financing, where everything can be destroyed and democratized.
Property ownership is ready for change, and the new platform may finally achieve that.