For at least a century population growth will not be needed for economic growth. Economic growth can be created by improving the quality of life for people. That can be done even with no population growth, but it will require a change in mindset for many people. If rich nations acknowledge that the lives of people in poor countries are worth improving, then there is vast potential to grow the global economy doing just that. Is that likely? Well, it seems like America is dead set on literally building walls and allowing their assholes to loot the wealth of the country. China is likely to be a global leader in this, although their interactions with poorer countries are transparently predatory at least they are actually expanding into places like Africa and developing them (for better or worse). I think the global center of power will shift to Beijing as America descends into single party Christian fascism. Obviously I hope I’m wrong, but there is still lots of potential for global growth. It is American hubris to think that the world can’t do it without them.
STONKS today, I guess. For now, at least.
STONKS TODAY, STONKS TOMORROW, STONKS FOREVER!
Looks like we’re all not gonna die after all, again.
Real estate is among the industries most ripe / desperate for disruption, alongside auto retail.
LOL realtors, 6% commission GTFO. Title insurance, complete scam. So irritating.
Zillow is just a super clear illustration of how important adverse selection is. I wish I had had this set of tweets available at the beginning of this semester when I talked about adverse selection in capital markets:
https://twitter.com/macrocephalopod/status/1455887352371597312
https://twitter.com/macrocephalopod/status/1455887356611940355
https://twitter.com/macrocephalopod/status/1455887361045372932
https://twitter.com/macrocephalopod/status/1455887365365510148
https://twitter.com/kari_paul/status/1466502514602242050
I’ve never understood how realtors get away with charging percentages for home sales when they are doing the exact same amount of work for each house. the home buyer is doing all the research themselves on Zillow yet realtor fees are the same as they were 15 years ago because it is a mafia/monopoly. After buying/selling 3 times I have found realtors completely useless.
auction %'s are also the same, really though if they put X house at Y% and B house at Z% you’re just gonna confuse and piss off people trying to sell through you so that’s just easier.
This. We’ve bought 3 houses int he US. My wife/realtor split work-wise is 99/1. And I’m being generous to realtors. Every time she has found the house and set up the viewing. Yes I’ve done little.
It should be illegal for buyers agents to be paid by the seller. It is de facto extortion.
Also title insurance is a straight up scam / cartel. Iowa of all places does it through the state and it’s like $100 per transaction, yet everywhere else these motherfuckers charge thousands because state legislatures fix the price (literally illegal to start a title insurance company and charge less). Don’t even get me started on refinance title insurance.
1 week down, hopefully 20 to 30 more to go so we can actually invest profitably again.
Just so it can run back up to insane highs and we’re back in this same spot in a year or two? What’s the point?
Unless… you’ve missed this entire run since the covid bottom and are kicking yourself with all that dry powder, worried you may have permanently missed the run up, possibly with some disastrous shorting and puts mixed in?
Not trying to be a dick, but I’ve often wondered if betting against the market the last year and a half is possibly the source your negative outlook and seemingly trying to will into existence things getting worse at every turn wrt to covid and stonks.
Really? If we’re ever at the point that you’re sweating, then we’ve got problems.
Paid less would be one thing, but unemployed seems quite unlikely.
Here’s an opportunity.
Nah, I made millions from COVID, dont worry about me.
60% off would be all the way back to the real old days of early 2020. Better now than at retirement age for these bubbles to pop.
Ah, so you just want it to happen all over again so you can make more millions. :D That makes more sense.
DocuSign predicted fourth-quarter revenue would come between $557 million and $563 million,
Signing PDFs is big fucking business.
Wasn’t really in a repeatable way. Wrong thread, and I’d love to proven pessimistic on COVID, but the real doomfesters on social media have been more correct than my tepidly pessimistic takes so far.
Define doom. Because other than wearing a mask in some places, my life is basically the same as pre-covid. Actually better since I wfh 100% of the time. I’ve traveled and seen family since being vaccinated. Maybe my risk of long term symptoms, hospitalization or death is .1% higher than if I stay home like it was mid-2020, and wear an N-95 anytime I’m outside the house. But I’m willing to take that risk to lead a normal life.
The vaccines came out faster than anyone expected and have been amazingly successful against hospitalization and death. Yes Delta sucked, and Omicron may suck. But we managed Delta and we’ll probably manage Omicron. The vaccinated world has not had a repeat of Northern Italy where they were telling anyone over 50 to stay home and die. That’s the doom scenario imo. What’s happening now is just a pain in the ass.