So at Arrived Homes, how do you evaluate markets and properties?
At a base level, what drives the housing market, a big part of that is population growth. So one of the things that we look for first and foremost is the top MSA's [metropolitan statistical areas] throughout the country or cities throughout the country, and we're targeting those that have the highest population growth. Then within that, the counterbalance is how much supply or new build starts are there in those markets. So are they going to be able to keep up with that population growth? And in those cities where they have high population growth but, maybe for regulatory reasons or just available land, they can't quite keep up...those are the areas of the country that have seen crazy amounts of appreciation, and in general, sustained appreciation over time.
So we've been targeting really based on that. Ultimately we're trying to give people the opportunity to invest anywhere in the country. We're in 12 cities right now, and we plan to be in 50 cities next year. It's really about making the data behind that market clear to our clients so they can make decisions on their own. Say I care more about dividends, or I care more about long-term appreciation, or I want to invest along themes. I mentioned previously the uniqueness of allowing people to invest in what they believe, and I do see this generational shift around values-based investing. From our perspective, [we want to] to give people the opportunity to invest in college towns throughout the country, or tech hubs, or areas of the country that are likely to be less impacted by climate change, things that might resonate with them.