*By Taylor Craig*
Uber revolutionized the way we get from point A to point B. Now, co-founder Garrett Camp hopes to shake up the real estate industry so more people can buy a home of their own.
[Haus](https://haus.com), which launched on Thursday born out of Camp's startup studio Expa, helps buyers finance the purchase of a property in exchange for equity. The company aims to make homeownership more affordable, claiming that the monthly payments it collects are on average 30 percent less than what a homeowner would pay in a traditional mortgage.
"We are not a bank or a lender. We are a co-investor," said Haus CEO Jonathan McNulty, a former Trulia executive brought on to lead Camp's company last October. "In our model, you put up 10 percent … and you buy more equity with every payment."
A [2018 survey](https://changematters.bankofthewest.com/2018/07/19/2018-millennial-study-found/) found that 68 percent of millennial homeowners said they regretted buying a home — a number McNulty calls "awful."
"It's really stemming down to the fact they are spending too much. There's a lot of unexpected expenses," McNulty said, explaining Haus' attempt to lower the monthly burden on homeowners. "We can help people save that money and they can choose to invest in more of the house if they want to at any time."
Haus' success is predicated on a property appreciating in value, so while it shares the reward of having equity, it also takes on some notable risk.
"If you think about what happened in 2008, you had a lot of people putting 5 or 10 percent down, borrowing hundreds of thousands of dollars ... and when the market crashed, they were exposed completely," McNulty said. "We designed \[Haus\] first to protect consumers … we believe investors can take the long-term view on this."
McNulty re-affirmed Haus' belief in the long-term viability of the real estate market, saying that if homeowners held on to property purchased in 2006 or 2007, their home could be 15 or 20 percent higher in value today.
"From a consumer perspective, we're trying to remove all that debt and that leverage that they've been taking on in this traditional mortgage space and push that away so they're now protected in case the market turns," McNulty said. "The investors can take on that risk."
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
