Living as a Service (LaaS)and How It’s Changing Property Ownership

  • Canada’s house prices have grown three times that of household income since 2000
  • Higher house prices reduce the standard of living and constrain economic growth
  • Restrictive land-use policies are associated with housing affordability losses.
  • Solving the middle-income housing affordability crisis will require policy reforms.

What’s Living as a Service?

How does this help the increasing prices in metropolitan cities?

Is anyone using this approach?

Increase in Workforce 📈

  • Between 2000 and 2012, the number of jobs within the typical commute distance for residents in a major metro area fell by 7 percent.
  • As employment suburbanized, the number of jobs near both the typical city and suburban residents fell.
  • As poor and minority residents shifted toward suburbs in the 2000s, their proximity to jobs fell more than for non-poor and white residents
  • Residents of high-poverty and majority-minority neighborhoods experienced particularly pronounced declines in job proximity.

What do we need to change?

  • The number of rental apartments went down 25%, while condos went up 25% on rentals.ca in 2019
  • Rental rates for purpose-built rentals are up 16.1% annually, rising from $1,966 per month to $2,283 per month
  • There is a big demand for these types of models, as for the audience that we’re catering to (54% of people renting are aged 0–34) *
  • It’s also predicted that 300,000 renters in Toronto will be living in low income by 2031

What I did with Sidewalk Labs

  • Creating a platform that allows people that are looking to rent and co-house, the ability to find compatible partners that have similar schedules and priorities
  • Focusing their construction to classify as purpose-built rentals to allow lower rental rates for renters
  • Connecting to Toronto’s DLWC system for energy usage.

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Just a 16-year-old trying to solve the world’s biggest problems…

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Valmik Rao

Valmik Rao

Just a 16-year-old trying to solve the world’s biggest problems…

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