Real Estate

Unicorn start-up Pacaso seeks to capitalize on surging vacation home prices

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As home prices surge, a real estate start-up launched in October by two former Zillow executives sees opportunity.

Cincinnati-based Pacaso purchases luxury single-family vacation homes and then sells them to groups of buyers through a fractional ownership model as part of an LLC, co-founder and CEO Austin Allison told CNBC on Friday.

“Most second homes sit vacant for 11 months per year,” Allison said on “The Exchange.” “We’re simply making better use of the housing stock by modernizing this old practice that’s been around for years, which we call co-ownership.”

Allison said the company operates differently from a timeshare, which sells the right to use a fixed amount of time in a…



Source cnbc.com

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