Housing prices dropping aren’t so good for those who own homes. It is also likely there will be a feeding frenzy of investors snatching up homes. I had a hard time buying a few years ago, because investors kept out-bidding me with all-cash offers. I had to raise my price target to move outside of their impulse buy range, which I was not too happy about.
> Housing prices dropping aren’t so good for those who own homes.
As housing prices are tied to the property tax it is a good thing for people who are not planning to sell anytime soon. Remember a home is a place you live, not an investment. People who treat homes as investments cause a lot of problems for people who just want to live somewhere that isn't propping up some middleman landlord.
The dynamic here is that investors accept 3% return for housing because there are no good alternatives.
The expected return is considerably higher now, this should mean that houses should be traded at PR at around 20 again (as opposed to upwards of 30 when there was no better investments to be made).
Investors will likely not be an issue as long as we don't go into zirp again.
Sometimes people need to move for family or work reasons that are beyond their control. Being underwater on a home in a situation like that isn’t fun. I knew people who ran into that in 2008.
You can use your real estate as collateral if you own it. To buy nice cars, fancy vacations, etc etc. And you want the real estate value to increase as much as possible. Even if that means destroying your nation forever.
Yes, the economy of the entire industrialized world runs on this.
People borrow money against their house to buy a car or a boat because rates are much better. The bank tells them to borrow a few ten thousands extra while they are at it, since the rate is so good. Why don't you take a vacation or get that new thing you wanted to buy?
From where do you think everybody has so much money to spend, while you are working full time and have nothing? It's not only credit cards...
In one case, it was a realtor that bought the home. She was just leaving the house when I went to look at it. Reading between the lines from what my realtor told me, I think she bought it and leased it back to the former owners so they didn’t have to move.
They are the same. I was looking for something and tried AI. It gave me a list of stuff. When I asked for its sources, it linked me to some SEO/Amazon affiliate slop.
All AI is doing is making it harder to know what is good information and what is slop, because it obscures the source, or people ignore the source links.
I've started just going to more things in person, asking friends for recommendations, and reading more books (should've been doing all of these anyway). There are some niche communities online I still like, and the fediverse is really neat, but I'm not sure we can stem the Great Pacific Garbage Patch-levels of slop, at this point. It's really sad. The web, as we know and love it, is well and truly dead.
AI isn’t that old. It terrifies me how many people I see asking questions like this or acting like they are fully dependent on AI to get anything done. What did they do a few years ago? Just do that.
Odd that there was no mention of the legacy competitors that are still around, like Vimeo and DailyMotion. Or new places like Rumble, which was born out of YouTube’s heavy hand around moderation.
Doesn't fit the narrative. Article also doesn't mention Skype, Whatsapp, Teams, go-to meeting, or literally dozens of other video messaging and chat platforms which, if that data has been retained somewhere out of sight for decades, are an actual goldmine for fresh LLM training data.
It blows my mind that sockets on the nightstand aren’t standard by now.
I just stayed at the Westin in Rome, supposedly a 5 star place, but I don’t think it’s been updated in 30 years. I had to move the nightstand and unplug a lamp, so I could plug my phone in next to the bed. So go get my phone socket I had to lose the lamp. It didn’t even have an alarm clock on the nightstand; there would have been nowhere to plug it in. Maybe they expect everyone to get a wake up call, but the phone was across the room too.
I used to travel with a little power strip, but stopped since I never actually used it. That place needed one badly.
It did have bathroom door though, so it had that going for it.
How would not having doors prevent people from sharing a room, unless it was highlighted prominently on the website? If that was the case, this person wouldn’t be making a website to catalog this information.
By making it enough of a nuisance such that the next time you book a hotel, any hotel, for 2 platonic friends you are strongly nudged to book two separate rooms.
SitusAMC was announced earlier this month. Based on this[0] article, they’re still trying to assess exactly how big it is. It impacts JPMorgan Chase, Citigroup, and Morgan Stanley. Also potentially pension funds and governments.
DoorDash also had a breach this month. Others as well.
> Most people now forget that 50+ years ago, the husband was the sole bread winner, kept his job for most of his life, and could afford the house, car, 4 children and a few pets.
When people say things like this, they gloss over the fact that the standard of living, of what most people find acceptable, has gone up dramatically. Average home size has more than doubled, while family size has gone down. Cars have significantly more technology in them. Everyone now needs a $1k smart phone in their pocket.
I live in a home from the 1940s. I’m sure at some point there was a family of 5 living here. My dad grew up in a similar home in the 1950s with 6 people in the home. I think you’d be hard pressed to find someone these days who think my house is big enough for a family that size.
My parents both have some emotional scars I’ve seen from growing up poor in the idyllic era everyone likes to reference.
I think debt has really allowed things to get out of hand. The availability and normalization of using debt for everything has meant companies don’t have to keep prices affordable or pay decent wages, they just need to convince the public that having excessive amounts of personal debt is ok and normal. Then they also create new forms of debt to hide it from people and keep them spending, like BNPL. The idea of living within one’s means has shifted to mean if a person can make the monthly payments.
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