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This Home Buying Software Will Turn The Housing Crisis Into The New Normal

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Chess prodigy A.J. Steigman has created a software algorithm that allows him to instantly search and snatch up available properties in the Atlanta area and sell them off to private equity investors to flip and rent for a profit. Now that there is tangible evidence of success from these algorithms, it’s only a matter of time until private equity firms take over all housing. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.businessinsider.com/chess-prodigy-steignet-software-buys-homes-for-big-investors-2022-5

"A.J. Steigman sold more houses in Atlanta last year than any other broker — despite the fact that he lives in Florida and has no full-time staff.

He's able to sell residential properties from thousands of miles away thanks to a $20,000 computer and a proprietary software system called "Steignet" that he launched at the University of Pennsylvania in 2018.

The system's algorithms scan large data sets to identify undervalued single-family homes before the human competition. Its name is a reference to the Terminator's villainous artificial intelligence network "Skynet," as The Wall Street Journal first reported.

But you won't find any mom and pop homebuyers on Steigman's client roster. Instead, he works with investors that flip the homes or rent them out for profit."

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220526__BE01ChessProdigyHomeAlgorithmBP
Category
Europe
Tags
220526__BE01ChessProdigyHomeAlgorithmBP, News, Politics
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