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The U.S. housing market is one of staggering proportions. With more than 100 million homesteads and an aggregate value approaching $40 trillion, housing is the largest single asset class in the country. While the numbers are stratospheric, the importance cannot be encapsulated in mere economics. For most families, the house is their largest investment and the one that radiates the most with life. Who are my neighbors? Where do my kids go to school? Am I safe? Is the air quality good? Am I close to work? These questions govern the quality of life, and as a result, housing is crucial to the very fabric of democracy itself.
Economists and commentators of all backgrounds have long understood this. Entire economic cycles are attributed to the amplitudes of the housing market. In recent memory, the 2008 recession was put squarely on the housing market and the derivatives and instruments concocted by Wall Street to transact on top of the market.
While a recession ensued and has since passed, the fates of those who lost their homes are not all as rosy as the stock market indices might indicate. Put simply, housing and peoples lives are connected symbiotically, and because of this, the housing market merits focus and attention.
The housing ecosystem
In reality, the housing marketplace is the aggregation of several aligned actors. According to Quantarium Chief Operating Officer, Malcolm Cannon, “The housing ecosystem, particularly a well-functioning one, is a collection of many cooperating entities, including private companies, government bodies, and entrepreneurs focused on improvement.
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The post Good governance and good housing: Public-private partnerships in proptech appeared first on HousingWire.
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