Financial infrastructure for the home.

Cheap intelligence is commoditising everything made of intelligence. The cost of knowledge work is falling, and value migrates to what stays scarce.

The home is the world’s largest asset class. The land under it is fixed and permission to build is rationed, so more demand means higher prices, not more homes. People spend more on it, borrow more against it and depend on it more than on anything else they own. In a generation its price has pulled away from the earnings that carry it.

Lenders price the home from the outside looking in. They learn what it’s worth from a valuation and who is borrowing from a credit file. They see a number; they don’t see a home.

We’re building a new kind of financial institution — one built on what the home needs, what it costs and how it actually runs.