Connect with us

Housing sector dominates Inc. 5000

HousingWire’s analysis of the 2021 Inc. 5000 winners took a close look at all recognized companies in the single-family housing sector with a focus on mortgage and real estate sales markets.
The post Housing sector dominates Inc. 5000 appeared first…

Published

on

Congratulations to all of the entrepreneurs, founders and executives who have survived the onslaught of phone calls, emails and DMs from first-year private equity associates (yeah… we’re looking at you Summit Partners….). But hey, growth equity firms and potential acquirers blowing up your cell phone is certainly not the worst thing in the world. 

The companies recognized in the 2021 Inc. 5000 list are nothing short of exceptional. They put up unfathomable year-over-year growth metrics in a year like no other. Yes, 2020 gave certain sectors a tail-wind but nonetheless these companies all had to manage through uncertainty while growing at breakneck speeds. We should all applaud the ingenuity and courage it takes to achieve these types of outcomes. 

Housing Sector Representation

The housing sector has been represented in Inc. rankings for many years. In 2016, Brad Sullivan’s Mortgage Financial Services ruled the roost in housing with a rank of 733. Griffin Funding was the fastest housing sector grower in 2017. Total Expert took the crown in 2018

Real estate broker Amherst Madison Treasure Valley was the fastest grower in 2019. And Nationwide Mortgage Bankers posted an insane average three-year growth rate of 16,396% in 2020. 

And while housing sector firms have graced the Inc. 5000 since HousingWire’s earliest days (check out the HW’s 2008 Inc. coverage), this year is different. Low rates, demographics and the great fintech acceleration have all combined forces to give the housing sector an amazing tailwind. Mortgage Bankers Association data reports that total mortgage origination volume in 2019 came in at $2.25 trillion. 2020 total volume for refinances and purchase mortgages totaled $3.83 trillion – 70% year-over-year origination volume growth. 

So yeah, a 70 mph tailwind should make any business operator grateful. And that tailwind, combined with amazing entrepreneurial execution, propelled 178 companies from the residential housing sector onto this year’s list of the fastest growing companies in America. 

But riding the sector wave isn’t enough to get you to the upper echelons of this year’s Inc 5000 list. Housing sector firms averaged a three year average growth rate of 453% in this year’s list. These 180 firms grabbed market share, created new business models and recruited talent without ever looking back. And astronomical outliers like OJO Labs (6767% growth) , Big Block Realty (6271% growth) and Sales Boomerang (3882% growth) set a whole new precedent for ambitious entrepreneurs. 

Many of the companies we interviewed for this coverage cited their team members as a strategic part of their growth. 

William Lyons, president and CEO of Griffin Funding (170% growth), said, “We focus on being talent driven and team first. Human capital is our No. 1 asset next to our loyal client base. Some mortgage companies get stuck in the trap of focusing on growth first and talent second. If you can focus on talent first, then the growth will be more natural and less forced. We also took down some large forward commitments early on at the beginning of the pandemic when everyone else was pulling back and uncertain. That certainty gave the team confidence to perform and it built the momentum we needed to put us on the Inc. 5000 map.”

Lending Heights ( 592% growth) President Jason Cecco said his focus was on “empowering our team members to thrive, which leads to the best customer experience.” 

Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We just have leadership that truly means and does what they say. Their primary focus is and always will be the customer experience. They are constantly looking for ways to improve that experience and sparing no expense to make the process as seamless as possible.”

The Analysis

HousingWire’s analysis of the 2021 Inc. 5000 winners took a close look at all recognized companies in the single-family housing sector with a focus on mortgage and real estate sales markets. To qualify for Inc.’s ranking program, a business must be privately held and based in the U.S., had to have generated at least $100,000 in annual revenue in 2017, and meet a minimum revenue threshold of $2 million in 2020.

This year housing sector companies appeared in the following categories as presented by Inc.: Business Products & Services, Security, Financial Services, Insurance, IT Management, IT Services, IT Systems Dev, Software and Real Estate. 

HousingWire segmented the recognized companies into four primary categories:

  • Mortgage Lenders & Brokers: 71 companies averaging 433% 3-year growth rate
  • Real Estate Brokerages & Alternative Models: 69 companies averaging 326% 3-year growth rate
  • Technology & Solutions: 28 companies averaging 926% 3-year growth rate
  • Title: 12 companies averaging 199% 3-year growth rate

Within the mortgage category, it’s notable that only one Top 15 HMDA lenderCrossCountry Mortgage – ranked amongst the fastest growing companies in the country. Several of the nations top real estate brokerages as ranked by RealTrends graced Inc.’s list including United Real Estate Group, Realty One Group Affiliates and multiple eXp Realty teams. 

The table below represents the fastest growing companies in the housing sector:

The Inc. 5000 ranks America’s top private companies by median growth, total revenue and jobs added. To qualify, companies must have generated revenue by March 31, 2017 and made at least $100,000 in revenue that year, have a minimum revenue threshold of $2 million in 2020 and be privately held, based in the U.S. and independently owned. Companies submit their revenue figures, and Inc. asks for verification of both the 2017 and the

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    The post Housing sector dominates Inc. 5000 appeared first on HousingWire.

    Read More

    Continue Reading

    Government

    Survey Shows Declining Concerns Among Americans About COVID-19

    Survey Shows Declining Concerns Among Americans About COVID-19

    A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

    Published

    on

    Survey Shows Declining Concerns Among Americans About COVID-19

    A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

    (SARMDY/Shutterstock)

    What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

    "This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

    According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

    What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

    "In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

    More via the Epoch Times;

    The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

    Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

    “This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

    COVID-19 No Longer an Emergency

    The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

    The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

    “We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

    The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

    Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

    The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

    According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

    Tyler Durden Sun, 03/10/2024 - 22:45

    Read More

    Continue Reading

    Government

    Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

    Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

    Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

    Published

    on

    Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

    Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

    So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

    Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

    ...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

    Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

    Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

    In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

    Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

    Rand Paul amid his 10 1/2 hour filibuster in 2015

    Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

    Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

    In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

    That may be his strongest endorsement yet. 

    Tyler Durden Sun, 03/10/2024 - 20:25

    Read More

    Continue Reading

    Government

    The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While “Waiting” For Deporation, Asylum

    The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

    Over the past several…

    Published

    on

    The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

    Over the past several months we've pointed out that there has  been zero job creation for native-born workers since the summer of 2018...

    ... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

    And while the left might find this data almost as verboten as FBI crime statistics - as it directly supports the so-called "great replacement theory" we're not supposed to discuss - it also coincides with record numbers of illegal crossings into the United States under Biden.

    In short, the Biden administration opened the floodgates, 10 million illegal immigrants poured into the country, and most of the post-pandemic "jobs recovery" went to foreign-born workers, of which illegal immigrants represent the largest chunk.

    Asylum seekers from Venezuela await work permits on June 28, 2023 (via the Chicago Tribune)

    'But Tyler, illegal immigrants can't possibly work in the United States whilst awaiting their asylum hearings,' one might hear from the peanut gallery. On the contrary: ever since Biden reversed a key aspect of Trump's labor policies, all illegal immigrants - even those awaiting deportation proceedings - have been given carte blanche to work while awaiting said proceedings for up to five years...

    ... something which even Elon Musk was shocked to learn.

    Which leads us to another question: recall that the primary concern for the Biden admin for much of 2022 and 2023 was soaring prices, i.e., relentless inflation in general, and rising wages in particular, which in turn prompted even Goldman to admit two years ago that the diabolical wage-price spiral had been unleashed in the US (diabolical, because nothing absent a major economic shock, read recession or depression, can short-circuit it once it is in place).

    Well, there is one other thing that can break the wage-price spiral loop: a flood of ultra-cheap illegal immigrant workers. But don't take our word for it: here is Fed Chair Jerome Powell himself during his February 60 Minutes interview:

    PELLEY: Why was immigration important?

    POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.

    PELLEY: Why is immigration so important to the economy?

    POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.

    I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era.

    PELLEY: The country needed the workers.

    POWELL: It did. And so, that's what's been happening.

    Translation: Immigrants work hard, and Americans are lazy. But much more importantly, since illegal immigrants will work for any pay, and since Biden's Department of Homeland Security, via its Citizenship and Immigration Services Agency, has made it so illegal immigrants can work in the US perfectly legally for up to 5 years (if not more), one can argue that the flood of illegals through the southern border has been the primary reason why inflation - or rather mostly wage inflation, that all too critical component of the wage-price spiral  - has moderated in in the past year, when the US labor market suddenly found itself flooded with millions of perfectly eligible workers, who just also happen to be illegal immigrants and thus have zero wage bargaining options.

    None of this is to suggest that the relentless flood of immigrants into the US is not also driven by voting and census concerns - something Elon Musk has been pounding the table on in recent weeks, and has gone so far to call it "the biggest corruption of American democracy in the 21st century", but in retrospect, one can also argue that the only modest success the Biden admin has had in the past year - namely bringing inflation down from a torrid 9% annual rate to "only" 3% - has also been due to the millions of illegals he's imported into the country.

    We would be remiss if we didn't also note that this so often carries catastrophic short-term consequences for the social fabric of the country (the Laken Riley fiasco being only the latest example), not to mention the far more dire long-term consequences for the future of the US - chief among them the trillions of dollars in debt the US will need to incur to pay for all those new illegal immigrants Democrat voters and low-paid workers. This is on top of the labor revolution that will kick in once AI leads to mass layoffs among high-paying, white-collar jobs, after which all those newly laid off native-born workers hoping to trade down to lower paying (if available) jobs will discover that hardened criminals from Honduras or Guatemala have already taken them, all thanks to Joe Biden.

    Tyler Durden Sun, 03/10/2024 - 19:15

    Read More

    Continue Reading

    Trending