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4 Real Estate Technologies That Can Help People During the Coronavirus-Induced Recession 

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The recession has officially hit the United States. Although some still deny the recession, the economy disagrees. Even though initial lockdowns have been lifted, millions of businesses have already closed their doors for good thanks to the last round of shutdowns. With California about to enter yet another lockdown, it’s only going to get worse.

Many people will need to find cheaper housing and possibly share a home with others. However, finding an affordable place to live is challenging. Oddly, rents are rising in certain areas despite the recession. For people who live in cities with rising rent, it’s hard to find affordable options. However, technology is making it a little easier.

In addition to essential property management applications that landlords use to communicate with tenants remotely, here are four technologies that can help people find affordable housing during this recession.

  1. 3D property tours

Even when people aren’t under stay-at-home orders, many are hesitant to drive long distances because gas costs money. Gas might be cheap compared to what it was last year, however, even cheap gas is expensive for someone who has lost part of their income.

Many people who have lost part of their income can still afford to pay rent. They just need to find a smaller house or move to a cheaper location. Offering 3D property tours on your website for potential tenants can be a huge help for those who can’t drive or don’t want to drive to see a property in person.

Another way a 3D property tour helps is by narrowing down potential tenants without having to meet with them first. People can see far more in a 3D tour than they can in 2D photos. Potential tenants might spot some deal breakers in a 3D tour, which means real estate agents don’t have to waste their time scheduling a showing, only to find out their prospect doesn’t like having a small step leading from the kitchen to the family room.

There are many 3D property tools on the market, but one of the easiest tools is the 3D tour app from Zillow. Al you need is an iPhone or a 360-degree camera to take some panoramic shots and the app puts all the photos together to create the 3D tour.

  1. Homeshare

For San Francisco residents who need to rent smaller spaces for less money, Homeshare is making that possible. Homeshare divides luxury apartments into smaller units that rent at a lower price than the entire apartment. The company divides luxury apartments into 100-square-foot sections that cost around $1,300 per month. 

The 100-square-foot units have sleeping areas sectioned off with privacy curtains, but otherwise it’s like sharing an apartment with roommates. The living room, bathroom, kitchen, and closets are all shared spaces.

Most people would consider $1,300 a ridiculous amount of money to pay for 100 square feet of living space, but in San Francisco, that’s cheap. For those used to paying $4,000-$6,000 per month, being able to jump into a $1,300 unit without leaving the city they love is a blessing.

  1. Bungalow

For those open to renting a room from someone, Bungalow helps people find a shared living situation without having to try their luck on Craigslist. All the houses listed with Bungalow are vetted by the company and roommates are matched based on shared interests and similar living preferences.

The best part about Bungalow is that the landlord can handle the lease agreement and rental payments through the app. Unlike finding a room to rent on Craigslist, if you don’t like the home you move into, you can move into another Bungalow listing without penalty within the first two weeks.

  1. Divvy Homes

Divvy Homes helps renters who want to buy their home to save money long term.

The services provided by Divvy Homes fall under the category of rent-to-own, but there are several key differences. When a client finds the dream home they want to buy, Divvy Homes purchases that home and then rents it to the client. While the client is renting their dream home, Divvy Homes helps them build their wealth to cover the down payment, all while they live in the home they are going to purchase.

Everyone should be saving money on rent if possible

The recession is here and nobody knows how long it will last. If you’re paying too much rent, consider downsizing until the recession is over. You never know what’s around the corner. If you don’t reduce your rent expenses now, you might regret not saving money sooner.

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Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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