Builders Patch reposted this
The housing crunch used to be a big city problem. Now it’s a small town and everywhere in between problem. It’s a story that’s becoming all too familiar: prices skyrocket, supply dwindles, and even middle-class families with six-figure incomes are struggling to keep up. Why? Builders have been playing catch-up since the Great Recession, building far fewer homes than needed to meet demand. Older, affordable homes are either falling apart or being bought up and renovated, driving rents higher. Some states are stepping in with subsidies to encourage more housing development, but it’s a problem that will take years to fix. And as cities and states try to speed up construction by loosening zoning laws, developers are still cautious—building only when they’re sure they have a buyer. We’re excited to have a company in our portfolio solving this issue. Kanan Ajmera, CEO + Founder of Builders Patch, founded the company to speed up the creation of affordable housing through faster financing. With their streamlined workflows, a project that took 3 to 6 months to get underwriting approval can now be funded in just 30 days, drastically shrinking the financing timeline. If you’re an ambitious founder building in the affordable housing space, we want to meet you. Send me a DM or comment below. #housingcrisis #affordablehousing #realestate