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299
Glock-n-Load
2025 Aug 19, 6:25am
GNL says
His 5 daughters, grandchildren and great grandchildren are living off of what he built. Only one grandson is working to grow the empire.
My son inlaw's grandfather built a billion dollar real estate empire by himself.
His 5 daughters, grandchildren and great grandchildren are living off of what he built. Only one grandson is working to grow the empire.
300
Al_Sharpton_for_President
2025 Aug 19, 6:58am
Al_Sharpton_for_President
2025 Aug 19, 6:58am
Glock-n-Load says
My parents were lower middle class. While I never went without food, or a roof over my head, when I struck out on my own, I had very little. No car, little savings, student loan debt, no job skills. Parents basically washed their hands of me. Yanked the hand-me-down car whose title they held, which was their right to do, and so my impoverished adventure began. But I knew I had nobody to rely on, no familial wealth to tap, it was up to me. OTOH, I was a Deadhead, which took the edge off of the situation, and gave me a perspective on the absudity of the system we live in. Stumbling forward, I managed to build a career, punctuated by many bouts of unemployment. Breakthrough came when a colleague showed me the ropes of starting companies, which I did. Lots of ups and downs, but had two successful exits. I am now in the 5-6% wealth percentile, which, considering where I came from, is quite an accomplishment, I must say. But it was that fear of being homeless with no one to rely on that drove me forward. Frugality by necessity and desperation. That never leaves you.
His 5 daughters, grandchildren and great grandchildren are living off of what he built. Only one grandson is working to grow the empire.
My parents were lower middle class. While I never went without food, or a roof over my head, when I struck out on my own, I had very little. No car, little savings, student loan debt, no job skills. Parents basically washed their hands of me. Yanked the hand-me-down car whose title they held, which was their right to do, and so my impoverished adventure began. But I knew I had nobody to rely on, no familial wealth to tap, it was up to me. OTOH, I was a Deadhead, which took the edge off of the situation, and gave me a perspective on the absudity of the system we live in. Stumbling forward, I managed to build a career, punctuated by many bouts of unemployment. Breakthrough came when a colleague showed me the ropes of starting companies, which I did. Lots of ups and downs, but had two successful exits. I am now in the 5-6% wealth percentile, which, considering where I came from, is quite an accomplishment, I must say. But it was that fear of being homeless with no one to rely on that drove me forward. Frugality by necessity and desperation. That never leaves you.
301
WookieMan
2025 Aug 19, 7:24am
WookieMan
2025 Aug 19, 7:24am
GNL says
Unfortunately you or anyone here don't know my life beside what I choose to share on the site and none of it is a lie. I could make $3M/yr and would still only build a $700k house. I'd rather have fun and live life instead of spend it on a house I sleep 8 hours, do laundry, shower, poop, mow and clean another 2-4 hours a day with 3 kids. Then go to their games and I'm not there another 2-4 hours. Then still work.
It was time to upgrade. I'm the lottery winner that puts all the money in safe funds. Doesn't buy expensive cars. I travel and have experiences with my kids. A house was not high on the priority list. Teens and myself pushing 6'2"-6-4" in 1,263SF is not realistic. 2 baths. Shared bedrooms.
Also I ran a real estate brokerage. I know real estate. I spot bull shit when I see it. Let me know where I've stated to be a real estate mogul? I don't want that life. It's all smiles and bull shit for those that are active real estate investors. Their life is miserable. Hell mine was.
The money thing also is about it's not that difficult to make it. Guys sitting on the back of a truck on the wife's crews make $90-120k as an individual. Get a wife making $30k/yr and you can easily afford at $350-$450k home and be within the 3X rule. Starting to question that pat netters make little money. Tone of jealously lately in the comments. Sorry I chose to make my life good, my bad???
Yet you're just now buying a $700K home. Sounds legit. Sorry to call you out but, you're always talking about how much money you and the wife make. And how smart you are and how much you know about real estate. You should be a real estate king by now living la vida loca in like Palm Beach or something. Something seems off to me.
If you knew as much as you claim, you would have bought real estate by the boatload 15 years ago.
Unfortunately you or anyone here don't know my life beside what I choose to share on the site and none of it is a lie. I could make $3M/yr and would still only build a $700k house. I'd rather have fun and live life instead of spend it on a house I sleep 8 hours, do laundry, shower, poop, mow and clean another 2-4 hours a day with 3 kids. Then go to their games and I'm not there another 2-4 hours. Then still work.
It was time to upgrade. I'm the lottery winner that puts all the money in safe funds. Doesn't buy expensive cars. I travel and have experiences with my kids. A house was not high on the priority list. Teens and myself pushing 6'2"-6-4" in 1,263SF is not realistic. 2 baths. Shared bedrooms.
Also I ran a real estate brokerage. I know real estate. I spot bull shit when I see it. Let me know where I've stated to be a real estate mogul? I don't want that life. It's all smiles and bull shit for those that are active real estate investors. Their life is miserable. Hell mine was.
The money thing also is about it's not that difficult to make it. Guys sitting on the back of a truck on the wife's crews make $90-120k as an individual. Get a wife making $30k/yr and you can easily afford at $350-$450k home and be within the 3X rule. Starting to question that pat netters make little money. Tone of jealously lately in the comments. Sorry I chose to make my life good, my bad???
302
Glock-n-Load
2025 Aug 19, 7:33am
Al_Shapton,
I grew up the same way. I mentioned the son inlaw’s grandfather and what he accomplished because that is an actual accomplishment compared to some of the braggadocio I hear on Pat.net. That’s all.
The son in law is a grade A prick. No doubt about it. I focus on the grandkids. I sure hope they turn out to be better people than him and my daughter.
I grew up the same way. I mentioned the son inlaw’s grandfather and what he accomplished because that is an actual accomplishment compared to some of the braggadocio I hear on Pat.net. That’s all.
The son in law is a grade A prick. No doubt about it. I focus on the grandkids. I sure hope they turn out to be better people than him and my daughter.
303
Glock-n-Load
2025 Aug 19, 7:39am
Wookie,
I think you’re confusing jealousy with small dick syndrome. Maybe?
I think you’re confusing jealousy with small dick syndrome. Maybe?
304
WookieMan
2025 Aug 19, 7:57am
WookieMan
2025 Aug 19, 7:57am
Glock-n-Load says
I'm just fine. Not sure why another man on a website is concerned about my dick though. That's a little strange.
Wookie,
I think you’re confusing jealousy with small dick syndrome. Maybe?
I'm just fine. Not sure why another man on a website is concerned about my dick though. That's a little strange.
305
MolotovCocktail
2025 Aug 19, 8:47am
MolotovCocktail
2025 Aug 19, 8:47am
WookieMan says
You do realize we overbuilt in 2000-2008. We then stopped building. Population increased over the next 14 years with little to no building. Some hipster cities that had the demand built. The few that did are dealing with it now. Most the country is fine. Example above.
308
SunnyvaleCA
2025 Aug 19, 1:23pm
"For the first time in history, a NEW home in the US costs $33,500 LESS than an EXISTING home[.]"
Out here in silicon valley that's probably been the case for quite a while. All the good locations have been built decades ago. So you can either get a $250k crap-shack on a $2MM piece of dirt in a good location or a $1MM McMansion on a $1MM piece of dirt overlooking the 8-lane highway.
Out here in silicon valley that's probably been the case for quite a while. All the good locations have been built decades ago. So you can either get a $250k crap-shack on a $2MM piece of dirt in a good location or a $1MM McMansion on a $1MM piece of dirt overlooking the 8-lane highway.
309
SunnyvaleCA
2025 Aug 19, 1:27pm
AD says
If Democrats gain control of immigration we'll have another 5MM person gain each year. The only mitigating factor is that the country will be become as prosperous as the least prosperous country from which people can get here. Then we still won't have enough housing, but instead the housing will be mis-matched to what the buyers can afford — we'll need more lower-cost housing.
Looks like based on below table from Congressional Budget Office that there is more new housing starts than needed based on population growth
If Democrats gain control of immigration we'll have another 5MM person gain each year. The only mitigating factor is that the country will be become as prosperous as the least prosperous country from which people can get here. Then we still won't have enough housing, but instead the housing will be mis-matched to what the buyers can afford — we'll need more lower-cost housing.
310
AD
2025 Aug 19, 2:12pm
AD
2025 Aug 19, 2:12pm
SunnyvaleCA says
Yes, its called Cloward Piven Strategy as far as open border + welfare state, and all part of a anarch tyranny mindset.
I agree as the country will be in some metaphorical cognitive dissonance fixated on population growth driving GDP (ignoring GDP per capita) and fixated on the Democrat creed of "a secure border is not an American value", while smugly refusing to recognize the USA is only one rung above Mexico.
Maybe expensive housing zip codes will end up like Detroit-style ghettos as part of that Cloward Piven Strategy reset.
.
AD says
Looks like based on below table from Congressional Budget Office that there is more new housing starts than needed based on population growth
If Democrats gain control of immigration we'll have another 5MM person gain each year. The only mitigating factor is that the country will be become as prosperous as the least prosperous country from which people can get here. Then we still won't have enough housing, but instead the housing will be mis-matched to what the buyers can afford — we'll need more lower-cost housing.
Yes, its called Cloward Piven Strategy as far as open border + welfare state, and all part of a anarch tyranny mindset.
I agree as the country will be in some metaphorical cognitive dissonance fixated on population growth driving GDP (ignoring GDP per capita) and fixated on the Democrat creed of "a secure border is not an American value", while smugly refusing to recognize the USA is only one rung above Mexico.
Maybe expensive housing zip codes will end up like Detroit-style ghettos as part of that Cloward Piven Strategy reset.
.
311
Patrick
2025 Aug 19, 2:31pm
Patrick
2025 Aug 19, 2:31pm
Al_Sharpton_for_President says
Same here. Was one of four and my dad never earned all that much. Constantly told us we'd have to pay for our own college.
I switched majors a dozen times, graduated with a useless German degree, worked in a bookstore, then went back and got a computer engineering (chip design) degree. Never did design any chips, but got decent software jobs and put everything into the stock market rather than a house, because I can do math.
Was able to retire 10 years early. Not really rich, but at least I'm done if I want to be.
My parents were lower middle class. While I never went without food, or a roof over my head, when I struck out on my own, I had very little.
Same here. Was one of four and my dad never earned all that much. Constantly told us we'd have to pay for our own college.
I switched majors a dozen times, graduated with a useless German degree, worked in a bookstore, then went back and got a computer engineering (chip design) degree. Never did design any chips, but got decent software jobs and put everything into the stock market rather than a house, because I can do math.
Was able to retire 10 years early. Not really rich, but at least I'm done if I want to be.
312
stereotomy
2025 Aug 19, 3:05pm
stereotomy
2025 Aug 19, 3:05pm
Patrick says
I grew up basically white trash - son of immigrants and a peasant mother. Man of the house by 8 years old because my dad died.
Pennies roll away in fear lest I pinch them. No, not really, but having to do adult shit when you're little gets you jaded pretty quickly. It's a handicap, because I never drink the Kool Aid, so I'm not a "team player."
I know, I know - "You might feel a little sting. That's pride. Fuck pride."
Al_Sharpton_for_President says
My parents were lower middle class. While I never went without food, or a roof over my head, when I struck out on my own, I had very little.
Same here. Was one of four and my dad never earned all that much. Constantly told us we'd have to pay for our own college.
I switched majors a dozen times, graduated with a useless German degree, worked in a bookstore, then went back and got a computer engineering (chip design) degree. Never did design any chips, but got decent software jobs and put everything into the stock market rather than a house, because I can do math.
Was able to retire 10 years early. Not really rich, but at least I'm done if I want to be.
I grew up basically white trash - son of immigrants and a peasant mother. Man of the house by 8 years old because my dad died.
Pennies roll away in fear lest I pinch them. No, not really, but having to do adult shit when you're little gets you jaded pretty quickly. It's a handicap, because I never drink the Kool Aid, so I'm not a "team player."
I know, I know - "You might feel a little sting. That's pride. Fuck pride."
313
Blue
2025 Aug 22, 6:38pm
https://youtu.be/lH8_4AiIxeo
The math explanation make sense!
Particularly FED is forced by Trump to lower the interest rate that will bump up inflation.
The math explanation make sense!
Particularly FED is forced by Trump to lower the interest rate that will bump up inflation.
314
DemoralizerOfPanicans
2025 Aug 22, 8:31pm
DemoralizerOfPanicans
2025 Aug 22, 8:31pm
Lower rates won't save housing. Demographics and Affordability Crisis flexing to pound down the upjumped asset prices will.
What will a point rate cut do? If $2800 is unaffordable, $2600 is hardly much better.
The Fed won't be cutting a full point overnight anyway.
What creates affordability? When the 1979 Al Bundy Special goes from $400k to $300k, without the rate changing at all. $2200 is a lot more affordable than $2800
What will a point rate cut do? If $2800 is unaffordable, $2600 is hardly much better.
The Fed won't be cutting a full point overnight anyway.
What creates affordability? When the 1979 Al Bundy Special goes from $400k to $300k, without the rate changing at all. $2200 is a lot more affordable than $2800
315
MolotovCocktail
2025 Aug 22, 8:52pm
MolotovCocktail
2025 Aug 22, 8:52pm
DemoralizerOfPanicans says
But...but...the Housing Experts of PatNet said...
Lower rates won't save housing.
But...but...the Housing Experts of PatNet said...
316
MolotovCocktail
2025 Aug 22, 8:53pm
MolotovCocktail
2025 Aug 22, 8:53pm
DemoralizerOfPanicans says
Mandatory 10% or even 20% down payments will do that for sure. No more PMI bullshit, too.
When the 1979 Al Bundy Special goes from $400k to $300k, without the rate changing at all. $2200 is a lot more affordable than $2800
Mandatory 10% or even 20% down payments will do that for sure. No more PMI bullshit, too.
317
DemoralizerOfPanicans
2025 Aug 22, 8:54pm
DemoralizerOfPanicans
2025 Aug 22, 8:54pm
Yessir!
DemoralizerOfPanicans says
And even at $2200 with the 25% drop in price, the 70s Al Bundy Special is still more expensive than renting ($2075)
DemoralizerOfPanicans says
What creates affordability? When the 1979 Al Bundy Special goes from $400k to $300k, without the rate changing at all. $2200 is a lot more affordable than $2800
And even at $2200 with the 25% drop in price, the 70s Al Bundy Special is still more expensive than renting ($2075)
318
WookieMan
2025 Aug 22, 11:35pm
WookieMan
2025 Aug 22, 11:35pm
MolotovCocktail says
Or just make more money? Novel concept that is not difficult to achieve, but is apparently hard to comprehend. Some people can't and just bitch about housing prices. Rent and enjoy, it's okay. Odds are high that when people buy they'll then bitch about maintenance because they don't know any trades to fix things. So maybe it's a good thing some can't own?
I'll take a $750k home that will probably be $1.5M in 20 years and sell with tax free income. And yes, I know $500k is the cap married, but that will change in 20 years because of the devaluation of the dollar. Imagine getting a check for $800k and not paying a dime to the IRS and the loan is likely paid off. I'm 62 at that time and have another $4-7M in retirement funds. I'll take that $1.5M add on while still investing and have a roof over my head. You can still invest as much as a renter while owning. I've never understood that view here. I think it's because most can't own. Not my problem.
DemoralizerOfPanicans says
When the 1979 Al Bundy Special goes from $400k to $300k, without the rate changing at all. $2200 is a lot more affordable than $2800
Mandatory 10% or even 20% down payments will do that for sure. No more PMI bullshit, too.
Or just make more money? Novel concept that is not difficult to achieve, but is apparently hard to comprehend. Some people can't and just bitch about housing prices. Rent and enjoy, it's okay. Odds are high that when people buy they'll then bitch about maintenance because they don't know any trades to fix things. So maybe it's a good thing some can't own?
I'll take a $750k home that will probably be $1.5M in 20 years and sell with tax free income. And yes, I know $500k is the cap married, but that will change in 20 years because of the devaluation of the dollar. Imagine getting a check for $800k and not paying a dime to the IRS and the loan is likely paid off. I'm 62 at that time and have another $4-7M in retirement funds. I'll take that $1.5M add on while still investing and have a roof over my head. You can still invest as much as a renter while owning. I've never understood that view here. I think it's because most can't own. Not my problem.
319
MolotovCocktail
2025 Aug 23, 10:10am
MolotovCocktail
2025 Aug 23, 10:10am
WookieMan says
"Let them eat cake" or "Let them drive Teslas"
AGAIN: There's the bullshit imaginary world in your head vs reality.
Or just make more money? Novel concept that is not difficult to achieve, b
"Let them eat cake" or "Let them drive Teslas"
AGAIN: There's the bullshit imaginary world in your head vs reality.
320
mell
2025 Aug 23, 10:49am
Not seeing any crash, just price reductions, stagnation of house prices and a sluggish market. Interest rates cuts have been signaled so mortgage rates will likely come down by 50bp at least, halting the decline.
321
WookieMan
2025 Aug 23, 11:32am
WookieMan
2025 Aug 23, 11:32am
MolotovCocktail says
What does a Tesla have anything to do with this? I won't buy one. Make money dude. It's not hard. I despise the people that cry poor. That's on you.
"Let them eat cake" or "Let them drive Teslas"
AGAIN: There's the bullshit imaginary world in your head vs reality.
What does a Tesla have anything to do with this? I won't buy one. Make money dude. It's not hard. I despise the people that cry poor. That's on you.
322
WookieMan
2025 Aug 23, 11:35am
WookieMan
2025 Aug 23, 11:35am
mell says
Yup. Some get it, some don't. Patrick being the anomaly, most renters are butt hurt they can't buy a house. It's not homeowners fault. We saved and made more and bought. Outside of 2006-08 most have done well for themselves as owners. Jealousy is a hard pill to swallow for some.
Not seeing any crash, just price reductions, stagnation of house prices and a sluggish market. Interest rates cuts have been signaled so mortgage rates will likely come down by 50bp at least, halting the decline.
Yup. Some get it, some don't. Patrick being the anomaly, most renters are butt hurt they can't buy a house. It's not homeowners fault. We saved and made more and bought. Outside of 2006-08 most have done well for themselves as owners. Jealousy is a hard pill to swallow for some.
324
MolotovCocktail
2025 Aug 23, 4:30pm
MolotovCocktail
2025 Aug 23, 4:30pm
mell says
Won't work. (Except on the margins)
Interest rates cuts have been signaled so mortgage rates will likely come down by 50bp at least, halting the decline.
Won't work. (Except on the margins)
325
AD
2025 Aug 23, 4:58pm
AD
2025 Aug 23, 4:58pm
https://www.msn.com/en-us/money/realestate/home-purchases-are-getting-canceled-at-a-record-rate-redfin/ar-AA1L52jH
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
326
HeadSet
2025 Aug 23, 8:06pm
HeadSet
2025 Aug 23, 8:06pm
DemoralizerOfPanicans says
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
What will a point rate cut do? If $2800 is unaffordable, $2600 is hardly much better.
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
327
MolotovCocktail
2025 Aug 23, 8:35pm
MolotovCocktail
2025 Aug 23, 8:35pm
AD says
Only in hipster coastal cities, remember?
Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.
More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.
Only in hipster coastal cities, remember?
328
DemoralizerOfPanicans
2025 Aug 23, 8:39pm
DemoralizerOfPanicans
2025 Aug 23, 8:39pm
HeadSet says
Correct.
Also, in the recent past the Fed lowered the rate and the mortgage rate went up.
The affordability crisis is solved by price discovery. Many places where the premium for new build is almost negligible versus a many decades older, often smaller home with fewer features and replacement for roof, HVAC, counters, etc on the near horizon. Unfortunately, retail sellers are slow, clinging to past COVID highs and images of swarms of Asians with deep pockets wanting to move to Ocala or Nashville burbs.
Another sign of malpricing is the rent vs. own being not only opposite, but significantly so.
Lowering the rate will not lower the monthly payment. The price will rise to offset the lower rate keeping the monthly payment the same.
Correct.
Also, in the recent past the Fed lowered the rate and the mortgage rate went up.
The affordability crisis is solved by price discovery. Many places where the premium for new build is almost negligible versus a many decades older, often smaller home with fewer features and replacement for roof, HVAC, counters, etc on the near horizon. Unfortunately, retail sellers are slow, clinging to past COVID highs and images of swarms of Asians with deep pockets wanting to move to Ocala or Nashville burbs.
Another sign of malpricing is the rent vs. own being not only opposite, but significantly so.
329
DemoralizerOfPanicans
2025 Aug 23, 8:48pm
https://www.bankrate.com/real-estate/rent-vs-buy-affordability-study/
Also, terrible "Date the Rate, Marry the House" advise. The bottom line price is almost always the most important factor. Also, if you've only been a homeloaner for a few years, if the R/E market goes down and your equity contribs don't offset that, you have a problem. Even if rates dropped from near 7% to 4%. Plus refinancing isn't Free.
Rent vs. Own Calculator
Beware, default house value growth and rental cost growth YoY is unrealistic and not justified by past couple of years.
https://www.nytimes.com/interactive/2024/upshot/buy-rent-calculator.html
DemoralizerOfPanicans
2025 Aug 23, 8:48pm
On average, renting a home is cheaper than paying a mortgage in all 50 of the largest U.S. metros in 2025 — with the cost difference between the two growing in 38 metros since last year.
Nationally, an average mortgage payment costs 38 percent more per month compared to average rent.
The metros with the smallest price gaps between renting and buying are mostly concentrated in the Rust Belt, including Detroit, Philadelphia and Cleveland.
The biggest cost gaps between renting and buying are centered in the tech hubs of San Francisco, San Jose and Seattle.
https://www.bankrate.com/real-estate/rent-vs-buy-affordability-study/
Also, terrible "Date the Rate, Marry the House" advise. The bottom line price is almost always the most important factor. Also, if you've only been a homeloaner for a few years, if the R/E market goes down and your equity contribs don't offset that, you have a problem. Even if rates dropped from near 7% to 4%. Plus refinancing isn't Free.
Rent vs. Own Calculator
Beware, default house value growth and rental cost growth YoY is unrealistic and not justified by past couple of years.
https://www.nytimes.com/interactive/2024/upshot/buy-rent-calculator.html
330
HeadSet
2025 Aug 24, 10:14am
HeadSet
2025 Aug 24, 10:14am
DemoralizerOfPanicans says
As it historically has been if one is talking a 30 year low down mortgage. They used to call this an "inflation premium." I had several rentals where I assumed a VA loan that was less than 4 years old. I had a negative cash flow renting these houses but no big deal. I just considered that I was buying a nice home for $100 or so per month. I did get Schedule E interest deductions and depreciation that brought my overall tax bill down, but much of that is recouped when the house is eventually sold and not 1041 exchanged.
renting a home is cheaper than paying a mortgage
As it historically has been if one is talking a 30 year low down mortgage. They used to call this an "inflation premium." I had several rentals where I assumed a VA loan that was less than 4 years old. I had a negative cash flow renting these houses but no big deal. I just considered that I was buying a nice home for $100 or so per month. I did get Schedule E interest deductions and depreciation that brought my overall tax bill down, but much of that is recouped when the house is eventually sold and not 1041 exchanged.
331
mell
2025 Aug 24, 11:56am
While there is no direct connection, mortgage rates usually eventually move with the Fed rate. Fighting the Fed bazooka has never been proven wise so far. Predict rares between 5 and 6 % in 2026 (like most banks do). Still high (for recent history) but def lower than now.
332
MolotovCocktail
2025 Aug 24, 12:25pm
MolotovCocktail
2025 Aug 24, 12:25pm
mell says
Not if the Fed rate is deemed as inflationary. Ditto with credit card and other lending rates. And with the Fed seen as kow-towing to Trump(which it is doing) and/or Fed independence overall being subsumed by Treasury Dept, bingo! That's what we have now and moving forward. Last time this happened was with Fed chairman Arthur Burns & Nixon. That gave us the wonderful 1970s.
One saving grace will be US stablecoins being adopted as a form if economic state craft. Boring shit but I posted that here: https://patrick.net/post/1385426/2025-08-23-economic-statecraft-thread
In short, US Genius Act stablecoins will create an automatic demand for US Treasury purchases while also butt-raping the eurodollar as the main means of conducting intl trade.. Only thing that MAY compete worldwide with it would be a gold 'backed' stablecoin. China is making that play, it seems. The competition will be good for everyone except Congressional Drunk Spenders.
Thus a robust stablecoin market would keep US interest rates overall low...at mostly the expense of most othe currencies in the world.
While there is no direct connection, mortgage rates usually eventually move with the Fed rate.
Not if the Fed rate is deemed as inflationary. Ditto with credit card and other lending rates. And with the Fed seen as kow-towing to Trump(which it is doing) and/or Fed independence overall being subsumed by Treasury Dept, bingo! That's what we have now and moving forward. Last time this happened was with Fed chairman Arthur Burns & Nixon. That gave us the wonderful 1970s.
One saving grace will be US stablecoins being adopted as a form if economic state craft. Boring shit but I posted that here: https://patrick.net/post/1385426/2025-08-23-economic-statecraft-thread
In short, US Genius Act stablecoins will create an automatic demand for US Treasury purchases while also butt-raping the eurodollar as the main means of conducting intl trade.. Only thing that MAY compete worldwide with it would be a gold 'backed' stablecoin. China is making that play, it seems. The competition will be good for everyone except Congressional Drunk Spenders.
Thus a robust stablecoin market would keep US interest rates overall low...at mostly the expense of most othe currencies in the world.
333
FortWayneHatesRealtors
2025 Aug 24, 1:20pm
Fed signaled rate reduction, expect prices to go up.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
334
AD
2025 Aug 24, 2:21pm
AD
2025 Aug 24, 2:21pm
Fortwaye says
yep, modern monetary theory and inflate out of a debt crisis
but also they want 2% annual inflation as the ideal setting to avoid people thinking we are in a deflationary spiral
people will just sit on sidelines waiting for prices to further drop such as for housing "assets'
the 2% annual inflation agenda of the central banks incentivizes (or coerces?) the people to not "wait it out" and to buy now
.
Fed signaled rate reduction, expect prices to go up.
Debt slavery is what America is ran on. Fucking government still backs 30 year mortgages.
yep, modern monetary theory and inflate out of a debt crisis
but also they want 2% annual inflation as the ideal setting to avoid people thinking we are in a deflationary spiral
people will just sit on sidelines waiting for prices to further drop such as for housing "assets'
the 2% annual inflation agenda of the central banks incentivizes (or coerces?) the people to not "wait it out" and to buy now
.
335
BigSky
2025 Aug 24, 8:03pm
WookieMan says
Uh, no. I would say Patnetters in general are doing well. Some are just wondering about the credibility of your bag of brag. You keep saying how you have been making bank for years, are rolling in dough now, and will be filthy rich when you retire. If you have so much loot, why do you now have kids sharing a room in a small house with two bathrooms? And why is your builder making you get a construction loan in the first place? Did he not trust that you had any money? When I bought a newly constructed house I did not have to pay for it until closing, which occurs after the house was built and had an occupancy permit. Same with everyone I know that bought new construction. The only folks I know that did construction loans are builders and self-contractors, as construction loans are a VERY expensive way to borrow. Of course, from your posts it seems that when when you say "construction loan" it means a loan using your mother's stocks as collateral. And your mom is helping you out by purchasing your old tiny house.
Here is what you area asking use to believe:
Your wife makes upwards of $650k per year yet you need a loan to construct a house. Why not use some of that $10,000 per week take home pay to fund the build as you go? After all, construction loans only pay the builder in stages, and then only after inspections and lien releases. Are we supposed to believe that all that salary goes directly into untouchable retirement accounts or pays for travel vacations? None of your massive cash over the years went into money market accounts, treasuries, or CDs? It would certainly be better to use this cash and lose 4% or so when a construction loan will cost at least twice that for interest alone, not including other fees and costs.
Starting to question that pat netters make little money. Tone of jealously lately in the comments.
Uh, no. I would say Patnetters in general are doing well. Some are just wondering about the credibility of your bag of brag. You keep saying how you have been making bank for years, are rolling in dough now, and will be filthy rich when you retire. If you have so much loot, why do you now have kids sharing a room in a small house with two bathrooms? And why is your builder making you get a construction loan in the first place? Did he not trust that you had any money? When I bought a newly constructed house I did not have to pay for it until closing, which occurs after the house was built and had an occupancy permit. Same with everyone I know that bought new construction. The only folks I know that did construction loans are builders and self-contractors, as construction loans are a VERY expensive way to borrow. Of course, from your posts it seems that when when you say "construction loan" it means a loan using your mother's stocks as collateral. And your mom is helping you out by purchasing your old tiny house.
Here is what you area asking use to believe:
Your wife makes upwards of $650k per year yet you need a loan to construct a house. Why not use some of that $10,000 per week take home pay to fund the build as you go? After all, construction loans only pay the builder in stages, and then only after inspections and lien releases. Are we supposed to believe that all that salary goes directly into untouchable retirement accounts or pays for travel vacations? None of your massive cash over the years went into money market accounts, treasuries, or CDs? It would certainly be better to use this cash and lose 4% or so when a construction loan will cost at least twice that for interest alone, not including other fees and costs.
337
MolotovCocktail
2025 Aug 25, 3:09pm
MolotovCocktail
2025 Aug 25, 3:09pm
WookieMan says
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
Starting to question that pat netters make little money. Tone of jealously lately in the comments
Made up in your head. "Calling Wookie out on his bullshit" = jealousy
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So the only way to decrease real prices is to decrease demand, and the only way to do that is to kick out all illegal immigrants and anchor babies. Will Trump do this? Almost certainly not. Even with control over all three branches of the government, the Republicans are not going to get rid of all the illegals who are driving up housing prices and social welfare costs. I wish that I was wrong about this, but I'm not.
The United States population reached 200 million on November 20, 1967. If there was no net migration, then the U.S. population have stabilized to about 220 million. Instead, the population is 335 million. This is why housing is so expensive. This is why rent is so damn high. This is why the younger generations cannot afford to have children. This is why the only way to keep the population from falling is to import massive numbers of unskilled, uneducated, and often criminal immigrants. Both parties are responsible for this: democrats for importing voters and republicans for importing farm laborers. Both parties want cheap labor.
When you import massive numbers of low-iq, low-skill workers, your per capital GDP declines relative to where it would have been otherwise. Yes, technological advancements mask this because technology increases GDP faster than low-skill immigration decreases it, but most of those gains don't get seen by the middle class.
Since both parties, and their corporate overlords, are benefiting from the current system, immigration will continue and housing prices will also continue to rise. I suppose I shouldn't care since I own and have a 2.25% mortgage that is being eaten away by inflation, but anyone young enough that they having bought already is fucked.