Famed VC Andreesen tries to make his Point in housing
by Andrea Riquier
Do you want Wall Street to get a piece of your house?
On Tuesday, famed venture capitalist Marc Andreesen announced that he’d invested in a startup called Point.
Point casts itself as a solution to an intrinsic problem with homeownership: most Americans have most of their wealth tied up in their home.
There are mechanisms for “taking out” some of the equity built up as a mortgage is paid down, such as home equity lines of credit or home equity loans.
But they require paying interest — not to mention having good credit. They also don’t help homeowners diversify their investments.