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Originally Posted by Boomer
Spencer Rascoff who co-founded Zillow, and wrote the book Zillowtalk: Rewriting the Rules of Real Estate, is at it again.
The following link is about his new company Pacaso and the toll it is taking on full-time homeowners in wine country in California.
Rascoff is now "rewriting the rules of real estate" in another way, as his company starts turning single-family homes, in desirable, vacation areas, into what sure sounds a lot like timeshares. (Fractional ownership of airplanes can sometimes work out well, but neighborhoods with single-family residences owned fractionally could come with a whole lot of issues. The resident homeowners in the neighborhoods are putting up a fight.)
Rascoff's new company looks like it has the potential to grow all kinds of arms and legs. Will it work its way across the entire country?
Pacaso Is Turning Houses Into Corporations : Planet Money : NPR |
Thanks for alerting us to this. I love Zillow—that’s how I found my house in The Villages—and I love the title “Zillowtalk”, but this Pacaso sounds like a horrible idea for all involved except the investors collecting those fees.