smart home TAKES OVER

| August 26, 2015 | 1 Comment More

While the idea is alluring – watch your kids arrive at home even though you are still at the office, change the temperature in the baby’s room without moving from your comfy chair, and evaluate the contents of your refrigerator from the grocery store aisles – many smart-home owners will tell you that the reality is quite different. Just ask real estate developer Ian Schrager, who has a smart home of his own but refuses to install smart packages in any of his developments (he actually had a second system installed specifically to override the original system when it breaks) or homeowners whose smart appliances spend more time sending out spam thanks to hacks than actually being smart about much of anything. A smart home sounds great, but it can take over your life.

With more and more developers opting to include smart-home features in their new homes, Schrager stands out with his refusal to incorporate even the option into his developments. Smart-home aficionados are on the rise, and by the end of 2015, 20 million households will have “some form of smart-home device” operating in some capacity[1]. Of particular note are remote-controlled locks, blinds, and appliances, which are great when they work but incredibly problematic when they freeze up or are, oddly enough, hacked.

That’s right: any smart device you install to make your life easier represents the potential for identity theft and other forms of hacking, be that device a remote door lock or a toaster. The stories run the gamut, from angry former spouses who use the remote-control climate control to wreak havoc on their old husbands or wives and new lovers, or items with cameras that turn out to be streaming private images on the very public web[2]. At a recent electronics conference, an entire session was devoted to how refrigerators and other appliances could be hacked and used to send spam, which may not represent a direct problem to the owner but, in addition to being illegal, can slow the devices down.

Smart homes offer great benefits, but they often come with a “fiddle factor” that is too high a price for many homeowners. Does your home have any smart aspects? Do you wish it didn’t?

Thank you for reading the Bryan Ellis Investing Letter!

Your comments and questions are welcome below.

[1] http://www.msn.com/en-us/money/realestate/when-a-home-is-too-smart-for-its-own-good/ar-BBlshbE?ocid=fbmsnmoney

[2] http://www.networkworld.com/article/2905053/security0/smart-home-hacking-is-easier-than-you-think.html

About the Author (Author Profile)

Carole Ellis is editor in chief of the Bryan Ellis Investing Letter. Under Carole’s leadership, the Bryan Ellis Investing Letter has grown to over 700,000 subscribers, making it one of the largest real estate newsletters in the world. Each day, Carole directly impacts the daily thinking and conversations of real estate investors worldwide by providing thought-provoking analysis and commentary on news topics relevant to serious real estate investors.

Carole has a strong background in research and in the management of respected publications. She holds a degree in English Literature from the University of Georgia, and has substantial research experience in plant biology. She is the former editor of and writer for the University of Georgia’s Research Magazine. She’s also the author of hundreds of articles and multiple books and home study courses published under the names of her clients, many of whom are well known, highly respected real estate entrepreneurs as well.

Carole makes her home in Kennesaw, Georgia with her husband Bryan and 4 children.

Comments (1)

Trackback URL | Comments RSS Feed

  1. G13man says:

    i also do not want a smart car !!!!
    i can roll up my window on my own , and fix cheaper then electric windows !

Leave a Reply

Category: Real Estate