That comment from Puerto Rico on the Airbnb thread is absolutely heartbreaking....this is all so egregious. As soon as I have some spare time I'm going to write a book of short stories - my life in Fed policy - that starts with my grandfather losing his farm and my parents going into foreclosure.....an uplifting, feel-good story ;). But, I do have hope we can write a good ending.
I've enjoyed reading Wall Street on Parade after discovering them from your substack. However, I was surprised to see articles encouraging regulators to ban the short selling of regional banks. I don't think that helped in the prior crisis.
And since Invitation Homes, what a lovely name by the way, is owned by Blackstone any impairments to Invitation Homes balance sheet would be considered as a major hit to Blackstone that would then snowball into a full-blown banking crisis. Blackstone, having learned from GS and MS, reorganizes as a bank holding company. Alls well that ends well I guess 🤮
Took most of the day, the Reddit AirBNB rabbit hole was something unexpected... I thought I knew but not really. I’ve been seeing ads for ADUs in my social media feed for sometime now but never thought of it as anything but a granny unit. I get it now. STRs. People doing what they can to make a buck because of insane monetary policies and the younger/future generations are already priced out of the market. Sad. Makes me want to do two things: max out my life insurance for my kids and buy more Bitcoin. Appreciate your efforts and last note, really dig the music at the end of your posts. I’ll have a decent Rudy Havenstein playlist before too long.
Housing-deprived young persons should maybe move into institutionally owned properties and refuse to leave, en masse. But maybe I just want to see how quickly we see a "landlord protection act" get rubber stamped.
The worst damage the Fed did with ZIRP etc did was destroying any value of savings, pushing people to numerous bad ideas, aka chasing yield. Always a merry chase, and always with a bad end. Destruction of savings and thrift in general.
That comment from Puerto Rico on the Airbnb thread is absolutely heartbreaking....this is all so egregious. As soon as I have some spare time I'm going to write a book of short stories - my life in Fed policy - that starts with my grandfather losing his farm and my parents going into foreclosure.....an uplifting, feel-good story ;). But, I do have hope we can write a good ending.
I've enjoyed reading Wall Street on Parade after discovering them from your substack. However, I was surprised to see articles encouraging regulators to ban the short selling of regional banks. I don't think that helped in the prior crisis.
I agree with you. I don't always agree with WSOP.
And since Invitation Homes, what a lovely name by the way, is owned by Blackstone any impairments to Invitation Homes balance sheet would be considered as a major hit to Blackstone that would then snowball into a full-blown banking crisis. Blackstone, having learned from GS and MS, reorganizes as a bank holding company. Alls well that ends well I guess 🤮
Took most of the day, the Reddit AirBNB rabbit hole was something unexpected... I thought I knew but not really. I’ve been seeing ads for ADUs in my social media feed for sometime now but never thought of it as anything but a granny unit. I get it now. STRs. People doing what they can to make a buck because of insane monetary policies and the younger/future generations are already priced out of the market. Sad. Makes me want to do two things: max out my life insurance for my kids and buy more Bitcoin. Appreciate your efforts and last note, really dig the music at the end of your posts. I’ll have a decent Rudy Havenstein playlist before too long.
I was wondering today how to share more music
Create a Spotify playlist. Embed code into a jpeg. Place it in where you want. I like the music videos at the end though. Like a cigarette after
It's all very tawdry. One does want to do something about it. But the difficulties are in doing some good and not making things worse.
Housing-deprived young persons should maybe move into institutionally owned properties and refuse to leave, en masse. But maybe I just want to see how quickly we see a "landlord protection act" get rubber stamped.
The worst damage the Fed did with ZIRP etc did was destroying any value of savings, pushing people to numerous bad ideas, aka chasing yield. Always a merry chase, and always with a bad end. Destruction of savings and thrift in general.
Mr. Druckenmiller is correct!