Source: Axios —
America’s housing market is broken, but the deep and structural problems can’t be fixed with technology.
Why it matters: The U.S. is in desperate need of more high-quality rental housing. Homeownership works for many — and doesn’t work at all for many others, who might not be ready to settle down or might not have the financial means.
The big picture: Venture capitalist Marc Andreessen has invested $350 million, his largest check ever, into Adam Neumann’s new company, Flow.
- Andreessen’s blog post lays out his investment thesis, that renting a home is “a soulless experience.”
- The details of how Flow will work are still vague, but they’re likely to include amenitization — bells and whistles for apartment renters — as well as some kind of financial upside.
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