22.6 million U.S. households now pay more for housing than they can afford, and the average home costs five times the average salary. Sam Froerer, who co-owns thousands of apartment units through Compass Capital, has never owned his own home himself. He tells hosts Jerremy Alexander Newsome and Dave Conley that the industry treats tenants like a commodity, and the top 50 owners control under 11% of it. He's building a model where a slice of every rent check turns residents into fractional owners of the building itself.

Timestamps:

• (00:00) 22.6 million households – can't actually afford their own rent
• (01:33) Never owned a home – this landlord explains exactly why
• (10:14) Same fries, different profits – Chick-fil-A earns 3x more than McDonald's
• (16:24) Can't pay on the 5th? – here's what happens to that resident
• (21:39) "Value-add," defined – and exactly where it crosses a line
• (26:33) What gets you rejected – the real bar for renting an apartment
• (32:05) Tax tricks renters never see – the leverage investors quietly get
• (36:37) Insurance tripled – how it quietly rewrote real estate deals
• (39:50) Rent that turns into equity – the blockchain idea behind it
• (49:19) $50 million, first check – what he'd fix in housing first
• (51:35) Lightning round – is homeownership already dead under 35?
• (55:09) The identity shift – what could replace the homeownership dream

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