Housing Affordability Is The Worst It Has Been This Century

To investors,

Housing affordability in the United States has become a national crisis.

It is harder to own a home today than it has been in the last 40 years. Approximately 50% of American citizens are 40 years old or younger, so this is the worst housing affordability period in their lifetime thus far.

When a national crisis arises, it is imperative that entrepreneurs spring into action. They can use the private market and economic forces to create meaningful change. It only takes a few courageous individuals with a good plan and an appetite for risk to build something that can have national impact.

I deeply believe this.

That is why we are announcing a brand new company today — ResiClub.

My team and I have partnered with the number one residential real estate reporter in the country, Lance Lambert, to create a data-driven media outlet exclusively focused on this market.

Lance, formerly at FORTUNE, is widely recognized for his incredible work on housing inventory, residential demand, geographic trends, interest rate changes, and mortgage implications. He has been covering this market for years and brings a level of professional journalism that is desperately needed to tackle a problem that affects millions of Americans.

But Lance is not simply covering the market — he is betting his livelihood on this.

Lance quit his job at FORTUNE recently to go all-in on this opportunity. He has burned the boats and there is no turning back. This either works or Lance is in a bad spot.

That is the exact type of entrepreneur that I like to partner with — one who bets on himself.

With his expertise in the housing market, and our expertise in operations, revenue, and growth, we believe that together we can increase awareness about the lack of housing affordability very quickly.

Once we raise awareness, we plan to empower market participants with proprietary data products. Lastly, if we are fortunate enough to find success in those two avenues, we may even look to tackle real-world solutions through the building of affordable housing nationally.

Before we get there though, we have to nail the media platform.

If you are interested in staying on top of the housing market, interest rates, mortgage trends, or inventory impacts, I ask that you subscribe to Lance Lambert’s ResiClub today.

Subscribe to ResiClub now

The first piece of content will go out later today for subscribers. This will be high-quality information and analysis that you can not find anywhere else.

If you aren’t into the housing market, but just want to back a founder who is betting his career on creating something that could solve a problem for many people, you should consider subscribing too.

I am excited to work with Lance on this new company. He is the best in the world at what he does. It is going to be fun to turn it into a sustainable business that gives millions of people the information they need to make informed decisions. You can read the full press release below.

I hope you join us.

-Anthony Pompliano

FOR IMMEDIATE RELEASE:

Introducing ResiClub: New outlet tracking the U.S. housing market amidst unprecedented affordability challenges

In a period characterized by soaring mortgage rates, overheating house prices, and dwindling affordability, October 2023 has emerged as the least affordable month for U.S. housing this century. The scorching pace of house price growth during the pandemic, coupled with a significant spike in mortgage rates from 3% to 7%, has pushed housing affordability beyond the levels seen at the peak of the housing bubble in 2006.

Faced with this challenging housing landscape, Lance Lambert and Anthony Pompliano have joined forces to co-found ResiClub, a groundbreaking media and research company dedicated to in-depth tracking, reporting, and analysis of the U.S. housing market.

Lance Lambert, the renowned outgoing real estate editor of Fortune Magazine, will lead the charge as ResiClub's editor. Lance Lambert has solidified his reputation as the nation's foremost data journalist and beat reporter in the residential real estate space, bringing a wealth of knowledge and expertise to ResiClub's endeavors.

ResiClub's Mission: ResiClub will serve as an indispensable resource for both industry professionals and everyday Americans looking to navigate the complexities of today's housing market.

The company's mission is to provide comprehensive coverage and insights into the U.S. housing sector, with a particular focus on: U.S. homebuilders, institutional homebuyers, proptech startups, and regional housing data.

Research and Data Analysis: ResiClub will conduct its research, gathering proprietary local market data and producing in-depth analyses that will enable individuals and professionals to make informed decisions in an ever-changing housing environment.

Lance Lambert, CEO/editor at ResiClub, expressed his excitement about the launch, saying, "The U.S. housing market is undergoing profound changes, and ResiClub's mission is to be at the forefront of providing insights and information to help people make better decisions. We believe this is a pivotal moment for the U.S. housing sector, and our team is here to guide you through it."

For media inquiries, please contact:

Lance Lambert | [email protected] | Subscribe to ResiClub

Peter Pham is the co-founder & managing director of Science, an incubator based in Los Angeles. This conversation was recorded at the BUILD Summit in New York.

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