housing

housing

Los Angeles is home to the second-highest largest homeless population in the U.S. While new resources have been allocated to creating housing during the pandemic, it's not enough. Tent cities crowd freeway underpasses and sit alongside neighborhoods.

For Berok Khoshnevis, this crisis represents an opportunity. Khoshnevis is a professor of engineering at the University of Southern California and has had a lifelong interest in the potential of 3D printing. Since the 1980s, he has been working with 3D printed machinery, with a special emphasis on the creation of large structures.

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Pacaso wants to sell you a stake in a top-tier second home, and it just raised $125 million to do so — that is, if you're among the minority of homeowners who can afford one.

The startup, founded by former Zillow executives Austin Allison and Spencer Rascoff, turns luxurious homes such as this vast, seaside Malibu estate into limited liability companies. It then splits them into fractional shares, selling to up to eight different buyers apiece. Pacaso takes a 12% cut of the purchase price and charges members $99 per month each to handle everything from furnishing to lawn care. Partial homeowners can divvy the time they spend on the property using the startup's apps and website.

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Promising cheaper, greener homes, Rialto-based Plant Prefab is seeing demand soar, as housing prices are hitting new highs.

Last week, Plant Prefab opened its second factory, in Ontario, and on Tuesday announced that it raised an additional $30 million for a third highly automated factory. The homes are priced lower than new construction – a key selling point as the cost of housing skyrockets to levels not seen in decades.

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