Leading Tech Entrepreneur, Ed Kushins, Examines Inflation Soaring in Vast Industries
Ed Kushins
LOS ANGELES, CA, UNITED STATES, November 30, 2021 /EINPresswire.com/ -- Inflation is soaring and the media is covering it endlessly from countless angles. What will soaring inflation do to your industry over the next year?
A poll last week indicated that 53% of American voters said they were extremely concerned about inflation and higher prices. No other issue topped 50%. Not COVID, immigration, education or foreign policy.
While aware and empathetic that inflation has been painful for many, it has offered opportunities for some industries and companies, and not because they are price gouging. Many in my industry (vacation home real estate) have benefited from rapidly rising prices and my own company (Vacation Property Partners) has not only benefited, but is helping our users deal with unexpected rapid inflation.
The vacation home real estate market has been on fire, with prices and demand soaring in the midst of limited inventory. That’s resulted in faster sales at higher prices for sellers, they’ve certainly benefited. Many real estate brokers get multiple offers at higher prices (and higher commissions). And while there has been some recent softening in some markets, it has been more of a flattening of the trajectory due more to lack of inventory than lack of demand.
· In 2020, vacation-home sales rose 16.4%, outpacing the growth in total existing-home sales of 5.6%. and the median existing vacation-home sales price typically rose by 14.2%.
· https://www.nar.realtor/newsroom/vacation-home-sales-skyrocket-as-a-result-of-pandemic<https://mailtrack.io/trace/link/3484817cde6613e601c8ebbbc71999783746a476?url=https%3A%2F%2Fwww.nar.realtor%2Fnewsroom%2Fvacation-home-sales-skyrocket-as-a-result-of-pandemic&userId=4563325&signature=f4e15bb0863315b9
· Jonathan Spears, a real estate agent and founder of Spears Group, based in Santa Rosa Beach, Florida, said he believes market gains will continue across the U.S. in 2022. Specifically, as people continue to become more comfortable returning to big cities, he expects to see the largest surges in metropolitan markets in the Northeast, Southeast and the West Coast.
“Despite some market prognosticators forecasting increases in market values upwards of 15%, because the market experienced an increase of over 30% in the previous year, it may actually seem as though real estate markets have slowed,” he said. “Because of low inventory, we won’t see as high of rates of absorption simply because the inventory is not there.” https://news.yahoo.com/where-home-prices-headed-2022-160105519.
My website, VacationPropertyPartners.com is actually poised to benefit from the current inflation and inventory situation and the FOMO (Fear of Missing Out) being fomented. We facilitate two families to partner to buy a single vacation home, thus essentially cutting their costs in half and allowing them to buy a vacation home they might otherwise not be able to afford in a market with rising prices and limited supply. That lack of inventory allows two VacationPropertyPartners to take advantage of one available vacation home, allowing it to satisfy the needs of two families. It’s actually an inflation workaround. Pacaso.com is offering somewhat the same service, but with a different business model where owners do not own a property directly, but own shares in an LLC that owns the property, and usually have ⅛ usage of a property rather than ½ usage. Inflation can certainly have uncomfortable to devastating effects on individuals and companies, but a savvy response can often offer mitigation and even opportunity.
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Ed Kushins, Founder of VacationPropertyPartners and Home Exchange
A former US Navy Submarine Officer and successful businessman, in 1992 Ed created HomeExchange.com, one of the first online communities on the internet, pioneering the sharing economy before the term was even coined, paving the way for companies such as Uber, Airbnb and others. A sought-after expert on travel and the sharing economy, he’s spoken at seminars, on panels, and at conferences around the world and has been featured in major media including feature articles in the NY Times, Wall Street Journal, Los Angeles Times and numerous international publications.
After selling HomeExchange.com in 2017, Ed saw the opportunity for blending owning and sharing to allow millions of families to realize their dream of owning a vacation home. His vision for VacationPropertyPartners.com is an easy-to-use website that incorporates tools and features that make owning a vacation home with a partner affordable, comfortable and worry-free. Vacation Property Partners makes owning a vacation home more affordable for everyone by cutting the cost of ownership in half.
Ed is an active member of Rotary International and a longtime supporter of the Wounded Warrior Project. When he’s not roaming the globe with his wife, Terry, he remains active by hiking, swimming and golfing. They live in Hermosa Beach, California.
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