AltFin company Homie lays off a third of its staff

Utah-based Homie, which operates an alternative finance (AltFin) real estate model in which it looks to streamline real estate transactions with innovative finance options for consumers, laid off a third of its staff in February. Estimates put the number of staff let go at approximately 100. The AltFin landscape, as T3 Sixty investigated thoroughly in the 2022 Swanepoel Trend Report chapter, “The Real Estate Financing Revolution,” is a fast-moving one. Companies are testing and innovating new ways for consumers to finance homes using a variety of new tactics. Many have yet to prove out, and companies such as Homie – and, most notably Zillow Group with its iBuying shutdown last year – are having to pivot as they find their way forward.