Q1 Founder Notes
There's a new sheriff in town
***Founder Notes are published quarterly for Founding Level subscribers. If you’re a Free Reader or a TTL Subscriber, look for the next regularly scheduled issue at 9:00 AM EST on Thursday March 27.***
Dear Founders,
You’re the cream of the TTL crop…
And while the real estate brokerage Redfin Corp (RDFN) says ~61% of you have a home mortgage, I bet the number is far less…
It goes on to report the combined value of all U.S. homes, mortgaged and un-mortgaged, finished 2024 at ~$49.7 trillion.
That means the value of all U.S. residential real estate is just shy of all publicly traded U.S. stock… which as of yesterday was ~$59.2 trillion.
RDFN compiles this data to give the impression it’s a tech company. It’s not… it’s merely a publicly traded real estate brokerage… that’s been a total dog for shareholders.