Caleb Wursten

Okay let’s figure this out. How do we make homes affordable?

@LacklandDaniel Agreed–software / tech talent is losing its role in product differentiation

@CalebWursten One way software can preserve a moat is through network effects + trust. Once all the RE homeowners are on a platform it’s much less vulnerable.

Salespeople are about to get rich in the AI economy. Software development costs are collapsing. The budget that used to go to engineering headcount is being reallocated to two things: usage credits (rapidly commoditizing — see OpenAI dropping prices) and go-to-market.

@LacklandDaniel The solution is for states to govern zoning (higher % of renters vote in these elections), which is gaining ground around the edges in some states. More details: secondmeans.com/p/states-need-…

So many of today’s problems stem from housing shortages / zoning regulation over abundance. I’d really love to understand the steel man argument for lots of zoning that leads to the nimby-ism of today. My current opinion is that present day policies favor homeowners (zoning = less new housing = more real estate value) which leads to less young families buying stuff which leads to older residents having even more voting power and then the cycle continues. And yet every single young person I talk to feels like the older generation is not supporting the younger one. This positive feedback loop does not seem broadly good. Why is zoning important? Who knows? Inspired by this article America’s quintessential places are getting old, fast economist.com/interactive/un… from The Economist

@LacklandDaniel Yes, you assessment is correct. Homeowners want low traffic and high home value. The big new condo building that solves the housing crisis violates both of their priorities. Those new renters, or even existing renters for that matter, can't / don't vote in local elections.

If you sell and you know real estate, hit me up. I'm about to launch a product that keeps landlords compliant and out of court.

When you can build software for almost nothing, the economics flip. You can afford to pay sales 50% commission and still win. The scarce resource is no longer the ability to build. It's the ability to sell. Relationships are everything. The age of the nerd is coming to a close.

This building was headed for condemnation. I brought it back. Under the Massachusetts rent control plan clearing hurdles for the November ballot, it would have been a loss of time and capital. The path to lower rent is removing barriers to supply. open.substack.com/pub/calebwurst…

If you haven’t heard from me in a couple of years — I’m alive. I’ve been heads-down redeveloping a three-family building from the 1880s in the Berkshires. It’s wrapped up now. To mark the end of the renovation, Here's what I learned about the economics of old buildings.

@drinkspindrift I'm a huge fan of your product (lemon lime all the way). Unfortunately the last batch was bad. It wasn't expired either! Purchased in Brooklyn, NY. Any idea why?

How to not get ripped off by contractors: Tell them you got a bid 40% cheaper. Ask why theirs is so much higher. Be friendly, say you want to work with them, but the numbers don't make sense. I saved $1,000 on a boiler repair by doing this today.

The Gem of the Berkshires: North Adams open.substack.com/pub/calebwurst…

Housing affordability is getting serious airtime. Kamala’s housing proposals: $25,000 first time homebuyer subsidy, crackdown on property management software and cutting red tape. More on this below.

The data is in – rural leisure towns are trouncing urban centers in property appreciation. The winners are Cape Cod and the Berkshires. The laggard is the Boston-metro area. Link in the comments.

What makes Nantucket special? open.substack.com/pub/calebwurst…

Over sixty five year-old homeowners are 14% of registered voters but make up 27% of voters in off-cycle elections, when local elections typically occur. That is a whopping 2x overrepresentation of retirement-age homeowners in local elections.

The status quo in housing production is not working. Until states govern zoning we should not expect a solution to the housing crisis. Fortunately, they are stepping in! Article in the comments.