2/
is there a finite supply of houses in the US?
https://twitter.com/AndToddsaid/status/1403064595300995087 …
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ⓘ Dogs don't have thumbs Retweeted
3/ that's not remotely my argument my argument is that we construct on the order of 1.7 mill new houses per year ; Blackrock buying 1,000 houses (or 30 minutes worth of production)...AND THEN RENTING THEM TO PEOPLE does not remotely constrict supply https://twitter.com/AndToddsaid/status/1403065002265821185 …
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4/ sigh I keep RTing and adding comment to the above tweet, and it gets deleted, reposted, deleted ...
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5/ Q: Dear Jay, what do I do when I run out of Doritos? A: Crunch all you want; we'll make more.https://www.youtube.com/watch?v=A0UsUsUu998 …
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6/ two big points here: 1) certain things, while rivalrous (only one person can consume a given unit of housing per unit came) can be created (Doritos, housing, couches, restaurant meals) 2) always divide by overall market size ; e.g. Bill Gates owns 4/100 of 1% of US farmland
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ⓘ Dogs don't have thumbs Retweeted Steve Gracin
7/ it's a bit like the George Floyd thing for the left: * there's a narrative some resentment * an event happens that kinda vaguely not-really pattern matches to it * the more you look at it, the less it matches * oops, too late, it's already our bannerhttps://twitter.com/stephengracin/status/1403069039598051329 …
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ⓘ Dogs don't have thumbs Retweeted Todd of Mischief
8/ Of all the houses in the US, I can't buy 99.999% of them ... because people own them. OF COURSE I have to look elsewhere. How is this any different? ...and yet, houses are hugely fungible.https://twitter.com/AndToddsaid/status/1403069111396179975 …
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Todd of Mischief @AndToddsaidReplying to @MorlockPIt's baked into your claim. Can't buy a house because Blackrock scooped you? Buy in a different neighborhood. Or town. Or state. As if location is no consideration at all for most people when buying a house. That portion of buyers is vanishingly small.3 replies 0 retweets 6 likesShow this thread -
Replying to @MorlockP
There was no toilet paper shortage last spring because 99.999% of the toilet paper was in people's crawlspaces. Toilet paper is COMPLETELY fungible. You just need to travel to where it isn't sold out.
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Replying to @AndToddsaid
what's the largest radius where Black Rock has denuded the landscape of non Black Rock housing ? 300 feet? 600 feet? is making someone travel 601 feet to find a house a problem? my property is 500 feet wide, and I'm not selling - am I as bad as Black Rock, or is it ok?
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Replying to @MorlockP
I don't want to insult you by assuming you think this is only a Blackrock thing. They've just got the best (worst?) branding in this sphere.
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whether it is or is not a blackrock thing doesn't matter is it any noticeable percentage of the overall market? is the % climbing, declining or staying flat? even if it's climbing...who cares? does a firm buying a lot and building apartments there hurt you bc no house tehre?
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