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In this episode of the Top of Mind podcast, Mike Simonsen sits down with Adena Hefets, cofounder and CEO of Divvy Homes, to talk about why the renttoown model is gaining momentum in today’s housing market. She discusses the challenges many people are facing in getting a mortgage, looks at the dynamics behind the affordability crisis, and shares her thoughts on which segments of the housing market are best poised to hold value and appreciate. She also gives her perspective on which types of proptech startups are poised for success, and which ones will have trouble making it.

About Adena Hefets

Adena is the cofounder & CEO of Divvy Homes, a proptech company on a mission to make homeownership accessible to everyone. In 2017, Adena set out to solve a problem she saw in the market: fewer people can afford to purchase a home today than two decades ago. To solve this, she came up with a new way to finance a home purchase through a renttoown model that allows renters to gradually build up ownership in their future homes all while living in it.

Prior to founding Divvy, Adena joined Square in 2013 and was responsible for building out Square Capital, a merchant cash advance platform with billions in loans outstanding. Prior to Square, she was part of the largecap buyout team at TPG, a private equity firm, where she helped purchase companies in the real estate sector. She started her career as an investment banker at Merrill Lynch.

Here's a glimpse of what you'll learn:
How the renttoown model works, why it’s attractive, and which demographic groups are embracing this approach
Which type of proptech startups are poised for success, and which ones will have trouble making it
Why the biggest crisis we’re facing in real estate is affordability, and what we can do about it
Why big investor money is still on the sidelines, and what that means for the housing market
Which segments of the housing market are best poised to hold value and appreciate
Where we should see the impact of AI innovations on the real estate industry (and where we won’t).

Altos Research is the premier resource for realtime real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make betterinformed decisions.

Featuring Mike Simonsen, President of Altos Research

A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.

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Altos Research is now part of HW Media! Check out their channel at @HousingWire for more housing market insights.