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Simply Homes nabs $22M, leverages AI to tackle affordable housing crisis

By Dale Oviatt posted 12-07-2023 11:50 AM

  

The United States has long had an affordable housing crisis, but it’s been exacerbated as of late by a surge in mortgage interest rates and low inventory.

The problem is especially acute for lower-income families.

One Portland, Maine-based startup is out to help address the problem by buying single-family homes in blighted neighborhoods, renovating them and then renting them out to very low-income families, the elderly and the disabled (or Section-8 voucher holders). That startup, Simply Homes, has recently secured $22 million in funding to further its efforts.


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