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Joined 2 years ago
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Cake day: July 25th, 2023

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  • Mortgage rates coming down is not the answer. It’ll only drive up demand while supply stays the same. There is a major need for more supply. People will reply with the number of vacant units, but vacancy is a broad measure that ignores things like a house currently being sold and going through the closing process.

    The country, as a whole, needs something like 6.5 million more housing units to meet demand at which point prices would come down.

    It’s unfortunately not going to happen without government (local or federal) intervention.

    This Freakonomics episode focuses more on rentals but the basic concepts are the same:

    https://freakonomics.com/podcast/why-rent-control-doesnt-work/




  • I don’t think you understand how determined the buyers are once they’ve been convinced by the scammer. I used to work for a major retailer that had signs at the register AND messages that the customer had to accept on the signature pad confirming they didn’t believe they were being scammed before going through with the purchase.

    Additionally, my team was instructed to call me over any time they had a customer who they felt was being scammed to try to talk to them. Sometimes, I was successful, but other times I wasn’t. There is still one guy who goes in weekly to buy $500 of various gift cards for his overseas “girlfriend” on WhatsApp. I tried talking to him multiple times and he became increasingly angry at the conversation. I just had to accept I couldn’t help him.