Aging Homes, Hot Takes, and a Little Bit of History

I’m thrilled to see my Forbes article on real estate striking a chord with so many readers—15,000 and counting!

The topic of aging home inventory seems to be resonating deeply, and as I reflect on the theme this week, I’m reminded of a photo I took at Berlin’s Gedächtniskirche, above.

Amidst the new, the old remains.

It’s a powerful visual that connects to the tensions we’re seeing in real estate today—where the past and present are in a complicated dance, much like the church itself, which stands in stark contrast to its modern surroundings.

While the history is more complex, it felt like a fitting symbol for this week’s conversation on how the housing market is evolving, and how we navigate the legacy of homeownership in the face of change.

🎙️ On the Podcast: Conversations That Matter

New episodes of Money Memories are on the way, but in the meantime, I wanted to highlight some of my favorite conversations from this year:

🎙 From Nigeria to Wall Street: A Journey of Resilience and Financial Freedom with Ehis Akhetuamhen
🎙 A Student Loan "Sherpa" Breaks Down What Borrowers Need to Know with Michael Lux
🎙 Caja de Zapatos and Operation HOPE (thank you to my new IG follower who mentioned that this episode was her personal favorite!)

Thank you for listening and supporting the show. Stay tuned for more fresh episodes!

💡 On Aging Home Inventory

Homeownership has long been a cornerstone of wealth-building in America. But today, that $36 trillion in housing wealth feels increasingly fragile—not just for would-be buyers, but for current owners, too. This chart from Redfin is pretty wild: nearly 40% of U.S. homes are now over 50 years old.

I wrote about this growing paradox in my latest Forbes article, and clearly, it struck a nerve. In just five days, it has become my highest performing article —and even drew a comment from a Boomer pushing back on the trends I described.

Here are three key reasons why the math and mindset around housing is changing:

1️⃣ It Costs More to Stay Put
The average annual maintenance cost for older homes has climbed above $6,000, driven by aging infrastructure, rising labor costs, and extreme weather damage. Homeowners are increasingly stretched just to maintain habitability.

2️⃣ Aging in Place Is Creating a Bottleneck
Roughly 80% of older adults plan to “age in place,” leading to a shortage of move-in-ready homes. Younger buyers are often faced with outdated properties that require expensive upgrades.

3️⃣ Old Homes, New Headaches for Affordability
In markets like Chicago and Philadelphia, homes built before 1970 make up more than 70% of listings. These properties frequently fail to meet modern building codes and often need costly retrofits, further eroding affordability for first-time buyers.

As a VC investor, I am curious whether technology solutions, such as instant renovation financing or retrofitting platforms, could help modernize aging inventory at scale.

As a homeowner, I am simply grateful my property's value has increased, even if the wealth is mostly on paper.

The Bottom Line: America's housing inventory is getting older, and it is shifting the economics of homeownership. There is a growing opportunity for fintech and proptech to rethink how Americans finance, update, and unlock value from their largest asset.

🔗 Other Interesting Reads & Listens

📌 Sinners is a smash. So why is Hollywood putting an asterisk on its success? - I saw “Sinners” this weekend and it was very entertaining. The discourse around it by mainstream media has been disappointing and not unlikely to be racially tinged.

Until next time,

Ilona