Assertion certainty 3/5 debate potential 1/5

Landed Provided an Average of $70K–$80K in Down Payment Assistance

Alex Lofton · HIBT Lab! Landed: Alex Lofton · May 11, 2023 · at 35:59

Alex Lofton is the co-founder of Landed, a shared-equity homeownership platform helping essential workers afford home down payments.

0:00 / 0:19exact quote · 19.5s
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“Because in the Bay Area, you're well over a 100,000 dollars and you're like a 110,000 dollars or so, but it's averaged out. And the next biggest market for us was Denver, Colorado and very different. Market. Though increasingly catching up. So I think on average now we're somewhere between 70 and 80,000 dollars per home buyer.”

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More from Alex Lofton

Assertion Supported
Lofton: Blackstone converted owner-occupied housing to rentals post-2008
“You know, you had Blackstone and others after to the 2008 financial crisis. Buy up a bunch of properties. That used to be for ownership and now are only rental.”
Alex Lofton May 11, 2023 ▶ 10:34 HIBT Lab! Landed: Alex Lofton
Assertion Not checkable as stated
Shared Equity Homebuying Existed Since the 1970s but Lacked Scale
“There have been institutions since the seventies that have been leveraging shared appreciation or shared equity to help people into homes. The reality is, though, it's always been specific organizations, maybe one city at a time that was doing this. No one had…”
Alex Lofton May 11, 2023 ▶ 19:54 HIBT Lab! Landed: Alex Lofton
Disclosure
Landed Took 2.5% Home Appreciation Per 1% Down Payment Provided
“Our initial model was for every kind of one percent down payment support you get. You would share in 2.5% of appreciation. So if you get 10% down payment support, you're going to share in 25%.”
Alex Lofton May 11, 2023 ▶ 21:02 HIBT Lab! Landed: Alex Lofton
Assertion Contradicted
Landed Helped California Design the Dream for All Housing Program
“State of California just announced California Dream for All, the biggest shared appreciation program ever. And that was something that we helped them design and they saw our work and said, hey, how, what if the state tried to scale something like this?”
Alex Lofton May 11, 2023 ▶ 34:38 HIBT Lab! Landed: Alex Lofton
Prediction Not checkable as stated
Future Homebuyers Will Rely on Co-Investors Before Becoming Full Owners
“This is a, one of those tools that could help chip away that in the future, somebody would think, Actually, the way to buy a home is to have a co-investor in it until I can be a full owner versus needing to be an owner right off the bat.”
Alex Lofton May 11, 2023 ▶ 41:35 HIBT Lab! Landed: Alex Lofton
Disclosure
Landed Partnered With School Districts for Down Payment Assistance Distribution
“That this product exists, and that's ended up what, how, what we did. We ended up partnering with school districts and hospitals and governments to kind of get the word out about our products so that their staff wouldn't just feel like, hey, what's this sketch…”
Alex Lofton May 11, 2023 ▶ 16:21 HIBT Lab! Landed: Alex Lofton
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