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guessmyname

According to various online publications, Flow is a residential real estate startup.

This blog post [1] by Marc Andreessen, has a bit more information about the business idea.

And this is Flow’s website [2], which doesn’t have anything as of today.

[1] https://a16z.com/2022/08/15/investing-in-flow/

[2] https://www.flow.life

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For an European it’s weird to read in the first link how renting an apartment is a soulless experience. Going vertical when the land is scarce in most of developed urban areas is THE solution to the housing crisis. Avoiding debt and not taking mortgage is a legitimate financial strategy, that may in certain circumstances yield better financial outcomes. Social life in rented apartments can be fun and community can be stronger. I guess they are solving purely American problem?

> Avoiding debt and not taking mortgage is a legitimate financial strategy

Is it though?

I don't know about the US, but the UK simply hasn't got any protections in place to protect retired tenants from eviction.

I know in Portugal and in other parts of Europe many people enjoy these protections.

Retiring on a fixed income when your landlord is free to put up the rent 5-10%/yr during cost of living crisis, or kick you out on the street because they want their investment back isn't a fun way to live. Moving in your 70s is stressful and not fun.

Then there's just the cost. Most people simply don't have pensions that can cover a private rent, and lack the financial education and discipline to invest judiciously throughout their life to reach that point. And even if they were so inclined, there's no money left to do so after paying rent!

Since the financial crisis repayment mortgags have been as cheap as rent on a like for like home, so the security of owning your home is "free" as far as most people were concerned.

Without it being cheaper to rent, your 20% house deposit needs to grow at 6.7%/yr ABOVE the rate of house price inflation, over a 25 year term, to make investing it instead of buying property a viable alternative. In the UK, residential property has matched the stock market. So it simply wasn't a good strategy over the last 20 years.

As I said, it may be better. It’s certainly not always better. E.g. in Berlin some paying tenants are protected from eviction for 10 years even on Eigenbedarf cause (i.e. the landlords cannot evict to use the properties themselves). Add rent control and it can cost you less than mortgage (i.e. you’d better invest the money elsewhere).

This claim about renting being soulless experience is just bullshit. You can perfectly be friends with your neighbours etc with just renting, if you want that is. Most people usually socialize with other circles. I have been renting and owning along the years, always been on friendly terms with my neighbours, the fact if I am renting or owning hans't been a big factor.

I also live in Europe though.

I've rented apartments across Australia, UK, Europe, South Korea etc.

At almost all of them there has been some form of social group formed to foster this sense of community. And at every single one the attendance rate was in the low single digits. Most people treat their home as a sanctuary and want a place to relax and unwind. Not necessarily to socialise.

And these aren't exactly soulless people who need to be rescued.

You don’t have to be friends with neighbors to have the sense of community. Just being polite and having occasional conversations, knowing the names, collecting a package for a neighbor or helping to carry some stuff to next floor is the social fabric that eventually creates that feeling. You notice when somebody moved out and you miss them, you are curious when somebody moved in, a bit afraid until you see their dog or their cute child… I find this life truly enjoyable.

Lol "our nation has a housing crisis". Cheeky bastard. Haha.

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