Where real estate meets rhythm | Developer, investor, live music enthusiast, and mountain seeker.

​ One year later, the smoke has long since cleared over Los Angeles, but for the residents of Pacific Palisades and Altadena, the view remains bleak. We are finally getting a look at the "true cost" of the 2025 Palisades and Eaton fires, and the numbers are just as staggering as the charred landscapes left behind. While the headlines have moved on, the recovery is lagging. For many, "home" is still a hotel room or a temporary rental. Here is the reality of where we stand 12 months post-disaster. The $8.3 Billion Disappearing Act According to a recent analysis by Realtor.com®, the financial crater left by these fires is deep. In the celebrity-laden enclave of Pacific Palisades, home values in the fire zones plummeted from $14.7 billion to $10.8 billion. Meanwhile, in working-class Altadena, values dropped from $7 billion to $4.7 billion. In total, an estimated $8.3 billion in housing wealth was erased across these two communities alone. This doesn't even account ...

2025 has officially become a banner year for housing reform. Across the country, the conversation around the housing crisis has shifted from "if" we should build to "how fast" we can unlock supply to meet the needs of working families. According to recent data from the Mercatus Center at George Mason University, state legislatures are finally stepping up. In the 12 months leading up to June 2025, 124 pro-housing bills were passed nationwide—a staggering jump from the 40 bills passed during the same period just two years ago. "It’s been a phenomenal year for housing supply wins," says Salim Furth, director of the Urbanity project at Mercatus. From Texas to California, the momentum is moving toward density, transparency, and the fundamental right to build. A National Wave of Reform While every state faces unique challenges, the 2025 reforms centered on a few key "bottlenecks" that have historically stifled new development: Texas: Passed seven signi...

​ Happy New Year’s Eve. Next week I’ll share some predictions for 2026, but before we rush ahead, it feels worth pausing for a moment and looking back at the year we’re closing out. 2025 was… a year. On a personal level, I’m grateful. Everyone in my life stayed healthy. Business was strong. We made real progress on our workforce housing efforts, which continues to be some of the most meaningful work I’ve ever been part of. For me, it was a very good year. But if I’m being honest, the broader mood out there felt heavy. The headlines were unsettling. A lot of people seemed on edge. Between political tension, economic anxiety, and the rapid rise of AI, it often felt like nobody quite knew what the future was going to look like. The vibes, as the kids say, were bad. I asked a simple question on social media recently: How was 2025 for you? About 30% said “okay.” Another 30% said “poor,” “bad,” or “terrible.” That felt about right. So how do we even measure how things are going anymore? I ca...

​ The slopes of ski resorts offer unparalleled beauty and exhilaration, but behind every perfectly groomed trail and steaming hot cocoa lies a complex operation powered by a dedicated workforce. From lift operators and ski instructors to hospitality staff and maintenance crews, these individuals are the lifeblood of the winter economy. Yet, across North America, a silent crisis is threatening this very foundation: affordable workforce housing. We believe in innovative solutions to pressing problems. That’s why we’re thrilled to announce Project Skiway , a groundbreaking initiative to tackle the ski resort housing crunch head-on. Our pilot program kicks off at one of the East Coast’s most beloved destinations: Sunday River in Newry, Maine. The Unseen Challenge: Workforce Housing at Ski Resorts The problem is stark. Ski resorts are often located in remote, picturesque areas where land is scarce and property values are soaring, driven by second-home buyers and vacation rentals. This cr...

​ By Daniel Kaufman In the world of real estate development and investment, we often look at how operating expenses impact the bottom line. A lower expense ratio usually means a higher net operating income (NOI) and, consequently, a higher asset value. Florida Governor Ron DeSantis is currently floating a proposal that takes this concept to the extreme: the total elimination of property taxes on owner-occupied homes. While this sounds like a dream for homeowners, the macroeconomic ripple effects are complex. A new analysis from Realtor.com suggests this move could trigger an immediate 7% to 9% spike in home values. Here is my breakdown of what this proposal means for the Florida market, looking at it through the lens of valuation and long-term stability. The Valuation Jolt: Instant Equity The logic behind the projected price spike is straightforward financial mechanics. Future expenses (like property taxes) are "capitalized" into a home's present value. If you remove a pe...

​ Date: December 2025 From the Desk of: Daniel Kaufman  As the markets closed the final full week of trading on a high note—with the S&P 500 and Nasdaq buoyed by renewed optimism around the AI trade—the real estate landscape tells a much more complex story. 2025 wasn't just another year of fluctuating interest rates; it was the year the market "decoupled." We saw rural equity explode while urban centers stabilized, "accidental luxury" owners get locked into their homes by tax code, and a divergence between the AI-fueled resurgence of San Francisco and the insurance-burdened softening of Florida. Here is my analysis of the trends that defined 2025 and the headwinds we must navigate in 2026. 1. The Heartland Resurgence: Affordability is the New Luxury For decades, the investment thesis was simple: follow the jobs to the big metros. But the post-pandemic era has cemented a new reality. The American heartland is no longer just "flyover country"—it is t...