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Billions of venture capital dollars have flowed into real estate to improve the experience of residents, office tenants and landlords themselves. But where’s the money for the really important stuff? The climate crisis, the national housing shortage and other wicked problems?

“The largest challenge is that there’s no silver bullet,” said Casey Berman, co-founder of proptech-focused VC firm Camber Creek Partners. “You can’t say we’re going to decrease the cost of construction by 90 percent, so people can have the American dream of being a homeowner. There are a TON of step changes that are happening, that together are creating this massive change.”