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A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.
D.R. Horton
, the nation’s largest homebuilder, is tapping an artificial intelligence tool from Portland, Oregon-based startup Prophetic to build more homes and address the country’s housing shortage.
Chronic underbuilding since the Great Recession has caused a deficit of roughly 4 million homes, according to analyses from several sources, including Zillow. The supply-demand imbalance has caused prices to rise over 50% from pre-pandemic levels.
