New Finance Application for Home Construction Revealed
Rigor is a new DeFi application built to end the affordable crisis for housing markets.
Rigor is an easy-to-use application that decentralizes lending into new home construction and provides the entire supply chain with web tools that coordinate real-time capital flows with on-the-ground construction logistics, a technical challenge uniquely suited to a blockchain solution. With Rigor, home construction loans are digital assets.
This has been created to help face the real estate shortage in the United States up to millions of homes. More than 80% of the country’s metro area’s home prices have increased in over 15 years. For most homebuyers, they will have to invest more than 5% in home construction.
Rigor stated that anyone with a digital crypto wallet can become a home construction lender. Rigor provides lenders direct access to investment opportunities in the fragmented construction market. Lenders are able to create lending communities to coordinate capital.
During the COVID-19 pandemic, prices have been surging drastically that it impacted the homebuyer’s system. Many aren’t buying homes. The Federal Reserve reports that homeowners have a staggering 44.5x the net worth of renters.
The company was created in Orlando, Florida but plans to be expanded nationally in the years to come. Rigor is currently building 100 homes in Florida in their private beta.
