housing

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.

Read more Show less

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.

Read more Show less

Adding a backyard home in Los Angeles is now nearly as easy as buying a barbecue.

Homeowners who for years have wanted to build a granny flat in their backyard, but dreaded the red tape, can now choose from 20 pre-designed homes that the city has already approved for use.

The shift, made official last week, will speed up a weeks-long process and bring more badly needed units to an overpriced market. It also has the potential to elevate the 14 startups and firms building the next generation of homes.

Read more Show less

Trending