> it seems to work well enough for cars and other assets
Definitely agree. Carmax being a great example.
> I don't know why liquidity/trading in homes needs to be "all or nothing" to be a good business
I didn't necessarily say that you couldn't build a good business, but the author is suggesting that the liquidity that your company creates will have a greater economic impact in that it will create a higher degree of mobility (which is then weighted against a supposed malevolence of investors cashing out big). If you're able to only operate in certain markets (like Carmax) then this theory starts to break down, because it becomes less of a universal truth. I'm simply dubious that the pronounced mobility will be as impactful to the market as suggested.
Definitely agree. Carmax being a great example.
> I don't know why liquidity/trading in homes needs to be "all or nothing" to be a good business
I didn't necessarily say that you couldn't build a good business, but the author is suggesting that the liquidity that your company creates will have a greater economic impact in that it will create a higher degree of mobility (which is then weighted against a supposed malevolence of investors cashing out big). If you're able to only operate in certain markets (like Carmax) then this theory starts to break down, because it becomes less of a universal truth. I'm simply dubious that the pronounced mobility will be as impactful to the market as suggested.
Anyway, good luck!