A lot of politicians talk about homelessness but few people have actual business experience in how to develop and invest in residential and commercial properties themselves. The housing crisis will not be solved by neat and clean white papers on the topic but by meeting the nitty-gritty realities of how to finance more construction of housing. Vikram Raya understands this dilemma. He is a board-certified cardiologist but also one of the topic real estate investors in the country. He has started numerous businesses, most relevantly Viking Capital, and a powerhouse real-estate investment firm that has hundreds of millions of dollars of assets under management. I wanted to talk to him because he embodies the duality of the humanistic ethos of medicine with the business savvy of real estate. You’ll find why he thinks the market is enough, what he would say to President Biden and other politicians who want to solve this problem, and his hot take on Millennial consumer habits and how that will affect the housing industry. Let’s dive in!
[00:01 – 08:34 ] Opening Segment
Homeownership is no longer the “American dream” for many people
Why young generations are choosing to rent
The cost of housing has become too high for many middle-class professionals
[08:35 – 20:06] Sun Belt Cities Are Becoming the New Hotspots for Real Estate
The housing market is becoming more competitive with interest rates scheduled to go up in the near future
Dr. Vikram’s insights about college tuition
Why people don’t want any responsibility of home ownership, but they want the benefits of homeownership
[20:07 – 33:33] Hypocrisy on Housing Issues
Administrations that worked on creating opportunity zones
How left and right-leaning people are found in real estate and how they draw the line on where they will buy and vote
Tenant-friendly states are easier to work with and government programs can help support tenants in difficult situations
[33:33 – 44:11] Disruptive Innovation Could Solve Homelessness Crisis
The multiple types of innovations, and how they are democratizing or consolidating
What needs to be done to really solve the root cause of homelessness
How housing and education are about to get disrupted
[44:12 – 50:59] Closing Segment
Why a data-driven mindset can revolutionize public governance
Vikram Raya – “Helping as many people as you can get to where you already got to is what will really spur a whole change in our world and our economy and our people and our culture.”
Vikram Raya – “Getting to the root cause of the problem is the solution.”
Vikram Raya – “Keep emotions super low, keep logic pretty high.”
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