Our mandate at Pax is quite simple: we back founders building a future where technology strengthens America at its foundations and drives prosperity for everyone. It’s hard to think of a more vital (and broken) pillar of society than housing. This country was built, in part, on the promise that you could own a piece of it. Housing underpins everything from family formation to middle-class wealth creation. A mortgage is the largest, cheapest loan most Americans will ever get, and they’re being locked out of it. Startups have spent years trying to tackle housing and every one has failed. Not necessarily because of bad ideas, but because of structural roadblocks like permitting, fragmented markets, mismatched capital, etc. Some of those barriers are finally coming down, and a new wave of startups like @americanhousing, @buildwithcuby, @ReframeSystems, @Permitflow and other are building around the category’s failure modes. I wrote up some thoughts on whether this might be the moment homebuilding startups finally work. 🏡 Link in comments.