Modern fractional ownership is increasingly seen as the future of real estate investing. Inman breaks down how investors can take advantage of the trend.
When it comes to homeownership, millennials are trailing behind older generations. At the age of 30, 42% of millennials own homes, compared to 48% of Gen Xers and 51% of baby boomers, according to.
Damian DeSena photo
The outside of the home Pacaso purchased at 1627 Rainier Avenue.
On Friday, following neighborhood protest, CEO and Napa resident
Austin Allison said his company was removing the Rainier Avenue
listing from its website and pausing all showings to
re-evaluate whether this property is the best fit for their
portfolio.
Sarah Klearman
This is a photograph of Gayle Olsonâs website advertising a yoga
retreat at a Pacaso home in east Napa where she is a fractional
owner. The offering was taken down following the Registerâs
inquiry
Many Napans heard the name Pacaso for the first time this week.
Many Napans heard the name Pacaso for the first time this week.
The real estate startupâs million-dollar purchase of a house in Napaâs Bel Aire neighborhood in early April caught the attention of the propertyâs neighbors, many of whom shared their opposition to Pacasoâs business model during public comment at Napa City Councilâs meeting Tuesday afternoon.
âI was like â âyouâre kidding. Come on. On this street? Why would anyone want to live on this street in that sort of format?ââ neighbor Thom Licthenstein, a 26-year resident of the Bel Aire neighborhood, told the Register this week of his reaction to news of the propertyâs purchase by Pacaso.