"...Summers rose up from the audience and attacked him, calling him a “Luddite,” dismissing his concerns, warning that increased regulation would reduce the productivity of the financial sector."
Oxy-moron, if ever there was one.
I noted in 2008 that the number of houses sold and the number of houses that HAD to sell were two very different numbers, most people don't need to move unless they lose a job or get transferred or some other life changing event, and the GFC increased that number. Today, homeowners sitting on sub-4% mortgages and plenty of equity that number is much smaller. I think residential RE resolves itself in a way that most don't see. I'm aware of builders designing whole new neighborhoods not for sale, but as rental communities. I drove by one a week ago, all the surroundings of what you know to be the great suburban enclave with the rec center, manicured lawns and cookie-cutter features, but...without the mortgages. I think it's possible that unless the labor market collapses, home sales will continue to decline but prices won't collapse, builders will pivot to building rental communities and annual sales won't budge from low numbers relative to the past. In a generation, we'll be at the place that Klaus Schwab offered a few short years ago...we won't own anything, and we'll be happy.
Black’s book The Best Way to Rob a Bank is to Own One is a great history of the S&L crisis and a massive indictment of those in power during the housing crisis.
"Grass knoll" types turn out to be right about the JFK assassination. The details about the four shooter teams are in my friend Alan Kent's book. Coup in Dallas with HP Albarelli and others.
"...Summers rose up from the audience and attacked him, calling him a “Luddite,” dismissing his concerns, warning that increased regulation would reduce the productivity of the financial sector."
Oxy-moron, if ever there was one.
I noted in 2008 that the number of houses sold and the number of houses that HAD to sell were two very different numbers, most people don't need to move unless they lose a job or get transferred or some other life changing event, and the GFC increased that number. Today, homeowners sitting on sub-4% mortgages and plenty of equity that number is much smaller. I think residential RE resolves itself in a way that most don't see. I'm aware of builders designing whole new neighborhoods not for sale, but as rental communities. I drove by one a week ago, all the surroundings of what you know to be the great suburban enclave with the rec center, manicured lawns and cookie-cutter features, but...without the mortgages. I think it's possible that unless the labor market collapses, home sales will continue to decline but prices won't collapse, builders will pivot to building rental communities and annual sales won't budge from low numbers relative to the past. In a generation, we'll be at the place that Klaus Schwab offered a few short years ago...we won't own anything, and we'll be happy.
Jason. I know a guy. I don't mean nothin' by that, I'm just sayin'. You need an exterminator.
Black’s book The Best Way to Rob a Bank is to Own One is a great history of the S&L crisis and a massive indictment of those in power during the housing crisis.
Have you read, "Maestro My Ass" by Mike Ashton? he takes Greenspan down as well
No. I'll look for it.
"Grass knoll" types turn out to be right about the JFK assassination. The details about the four shooter teams are in my friend Alan Kent's book. Coup in Dallas with HP Albarelli and others.
I agree. To compare JFK skeptics to flat earthers shows his smug ignorance.
What's more, if the earth were entirely flat, there could be no grassy knoll! lol
"There will be pain." Translation? Bite this curb for a few seconds while I kick the back of your head. There, inflation will be solved.
Sorry to hear that “time” is an oft given reason for unsubscribing. The world is an eclectic place. There are no shortcuts but many distractions.