That Smith's is dope. I was missing your presence on Twitter and my friend reminded me of it yesterday. I would often share your tweets with him and he doesn't exactly have receptors for that wavelength, but, anyway, today I subscribed and glad I did.
It’s amazing to me the knock-on effects of the inevitable refinancing cycle (at significantly higher interest rates) are not striking the fear of god into more money/investment managers - it’s not like we haven’t had bank failures, corporate bankruptcies or other red flags. Reminds me of Chris Hedge’s line, ‘optimism that is not grounded in reality isn’t hope, it’s fantasy.’
"Here is where I remind you that the Federal Reserve was buying mortgage-backed securities even as house prices were rising 20%+ year-over-year nationally."
So, what you're saying is that if they sold their $2.5T stake, home prices might reach a level of affordability for the other 95%? Someone, somewhere can rationalize our continued decision making to the benefit of the 5%, and that person probably has an account on Twitter and goes to parties with the likes of Jimmy and Krugman...
Keep dropping MOABs
Many Meritage sites were completely shut down on my travels....
You caused me to imagine Morrisey singing with Cramer's '80s home 3/4s perm! Thank you! Happy weekend, Sir.
That Smith's is dope. I was missing your presence on Twitter and my friend reminded me of it yesterday. I would often share your tweets with him and he doesn't exactly have receptors for that wavelength, but, anyway, today I subscribed and glad I did.
It’s amazing to me the knock-on effects of the inevitable refinancing cycle (at significantly higher interest rates) are not striking the fear of god into more money/investment managers - it’s not like we haven’t had bank failures, corporate bankruptcies or other red flags. Reminds me of Chris Hedge’s line, ‘optimism that is not grounded in reality isn’t hope, it’s fantasy.’
"Here is where I remind you that the Federal Reserve was buying mortgage-backed securities even as house prices were rising 20%+ year-over-year nationally."
So, what you're saying is that if they sold their $2.5T stake, home prices might reach a level of affordability for the other 95%? Someone, somewhere can rationalize our continued decision making to the benefit of the 5%, and that person probably has an account on Twitter and goes to parties with the likes of Jimmy and Krugman...
How can someone look at those sentiment charts and deny we’re already in a recession?