Rigor, a Latest Decentralized Finance Application for Home Construction, to "Affordability Crisis" Affecting Housing Markets

Fremont, CA: PropTech is exploding, and it is poised to disrupt the real estate industry by altering the way we view property investments. New-age technology-enabled platforms enable buyers/investors to view multiple properties without leaving their homes.

Rigor, a new DeFi application built to end the longstanding "affordability crisis" plaguing housing markets, has launched its "100 Homes" beta program in Central Florida with a supply chain of lenders and homebuilders eager to modernize this industry and increase output. Rigor is an easy-to-use application built on the Ethereum blockchain that decentralizes lending into new home construction and offers the entire supply chain with web tools that real-time coordinate capital flows with on-the-ground construction logistics, a technical challenge uniquely suited to a blockchain solution. Rigor considers home construction loans to be digital assets.

According to some estimates, the US faces a housing shortage of up to six million homes as a result of decades of underbuilding. Since 1970, housing starts as a percentage of the population have fallen dramatically, falling 39 percent in 2006 alone. As a result, more people than ever are being priced out of homeownership, as home prices in 80 percent of US metro areas are rising faster than wages. The founders of Rigor argue that the lack of growth is primarily because of investor reluctance to take on the risks associated with the notoriously opaque supply chain of the home construction industry.Only 3 percent of all real estate financing in the US supports new home construction. Rigor's management team has over a decade of experience in the Florida home building market.

"The 'affordability crisis' plaguing home ownership is a lending crisis," remarked Isaac Lidsky, founder and CEO of Rigor. "The scale of investment is simply inadequate - and that's understandable when you look at the realities of a fragmented, uncoordinated, and inefficient supply chain rife with misaligned incentives. Rigor's audacious goal on launch is to end this decades-long crisis so that more homes can be built for people."

Rigor harmonizes the entire homebuilding supply chain, revitalizing the asset class by leveraging the latest in decentralized finance and coordination technologies. Rigor combines transparent lending flows with on-the-ground workflow and payment management, reducing risk for lenders and increasing productivity for homebuilders – all of which are critical to investor confidence. Lenders use Rigor to pool capital into a digital asset, find and fund quality homebuilding projects, gain transparency into lending flows and also be repaid digitally. Homebuilders manage funds through detailed, task-level budgets that are revised and paid to their supply chain in real-time as work is completed.


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