The Future of Second Home Ownership

Top of Mind

May 4 2022 • 46 mins

In this episode of the Top of Mind podcast, Mike Simonsen sits down with Austin Allison, CEO of Pacaso Homes, to talk about the shifting dynamics in the market for second homes. Austin gives an overview of Pacaso’s innovative model for second home ownership, outlines the surprising community benefits of shared second homes, shares key considerations for people thinking about second homes as an investment, and more.

About Austin Allison

Austin Allison co-founded Pacaso to make the dream of second-home ownership a reality for more people after experiencing the profound effect it had on his own life.

Pacaso is Austin’s second startup. In 2009, he founded dotloop in his hometown of Cincinnati, a company that created software to seamlessly manage real estate transactions. Zillow acquired dotloop in 2015, and Austin continued to run dotloop as a Zillow executive until 2018. Austin started selling real estate at the age of 18 and worked in residential and commercial real estate for a decade.

Here’s a glimpse of what you’ll learn:

  • A look at Pacaso’s innovative model for second-home ownership
  • The ways in which shared vacation homes have similar benefits to carpooling
  • Why Pacaso’s second homes are almost fully utilized, while single-owner second homes only get used five to six weeks per year
  • Why the inventory shortage — especially in second-home markets — is here to stay
  • How redirecting second-home demand frees up inventory for local primary home buyers

Featuring Mike Simonsen, CEO of Altos Research

A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets.

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See you next week!