Wealth inequality in the US: Top 10% own 76% of the wealth: Wealth inequality in the US continues to grow, with the top 1% owning a disproportionate amount of wealth, leaving the bottom 50% with little to no income growth
Wealth inequality in the United States is on the rise, with the top 10% of households owning 76% of the wealth, leaving the bottom 50% with just 1%. This trend has continued with the rich getting richer while the poor have seen little to no income growth. For example, a household in the top 1% had an average wealth of $2,000,000 in 1963, which has grown to $10,000,000 today. However, for those in the bottom 50%, their household income has remained relatively unchanged. This wealth disparity is a significant barrier to achieving the American dream of providing a better life for future generations. The reasons for this trend are complex and include factors such as stagnant wages, rising costs of living, and a lack of access to affordable housing and quality education. Divvy Homes aims to address this issue by making homeownership more accessible and affordable for those who have been priced out of the market.
The wealth gap between homeowners and renters: Homeowners have significantly higher net worth than renters due to asset ownership, leveraging home equity, and forced savings through mortgage payments.
Asset ownership, particularly in the form of investments like stocks and real estate, plays a significant role in wealth accumulation. The speaker used data from the New York Times to illustrate that the bottom 50% of income earners own less than 1% of overall equities, while the top 1% owns 38%. Homeowners, on average, have 75 times the net worth of renters, making homeownership a popular and effective way to build wealth. The ability to leverage home equity with low-cost debt and the forced savings through mortgage payments contribute to the high net worth of homeowners. However, homeownership is becoming increasingly inaccessible to the majority of Americans. The speaker did not advocate for homeownership as the only solution, but rather emphasized the importance of asset ownership in wealth creation.
Decrease in new home construction following financial crisis led to home price increase: The decrease in new home construction following the financial crisis resulted in a significant increase in home prices due to high demand and limited supply.
The dramatic increase in home prices in the United States over the past decade, from around $163,000 in 2012 to nearly $338,000 today, is due in large part to a decrease in new home construction following the global financial crisis. During that time, builders were unable to compete with the large inventory of foreclosed homes, which were being sold for much lower prices. As a result, they significantly reduced the number of new homes they built. In the years following the crisis, demand for homes spiked due to factors such as COVID-19, leading to a significant increase in home prices. This increase in prices has made it much more difficult for potential homebuyers to save enough for a down payment, as the average down payment has roughly doubled in the last 20 years while median income has not kept pace. Additionally, post-crisis government underwriting requirements have made it more difficult for some people to qualify for mortgages.
Homeownership becoming less accessible due to high FICO scores and mortgage rates: High FICO scores and increasing mortgage rates are making it harder for many Americans, especially younger generations, to afford homes. Divvy aims to help solve wealth inequality by providing access to homeownership with a smaller down payment requirement.
The high FICO score requirement and increasing mortgage rates are making it increasingly difficult for many Americans, especially those under 45 years old, to afford homes. The average FICO score for homebuyers is significantly higher than the average FICO score for the general population, and the income required to get a mortgage has also increased dramatically. As a result, fewer and fewer households can afford to buy homes. For instance, a $10,000 increase in home prices means 1,000,000 fewer families can own a home, and a 1% increase in mortgage rates means 5,000,000 families can no longer afford to buy a home. The goal of Divvy is to help solve wealth inequality by giving Americans access to assets, such as homes, through a process similar to a mortgage but without the large down payment requirement. Divvy covers all closing costs, inspections, and fees, and allows buyers to commit as little as 1 to 2% down. This innovative approach can help more families achieve homeownership and build wealth for future generations.
Divvy Homes: A New Homeownership Model with Equity Building and Flexibility: Divvy Homes offers a flexible homeownership model where renters build equity over a 3-year lease term, saving significantly more than average renters, and have the option to buy back, prepare for a mortgage, or turn over the property.
Divvy Homes offers an alternative homeownership model where renters build equity in a property over a three-year lease term, with down payments starting at 1% and growing up to 10%. This model allows customers to save significantly more than the average renter, with Divvy customers having 25 times more savings on average. The company, which operates in 16 metros with the biggest presence in Georgia, Texas, and Florida, has achieved impressive growth, deploying over $1,000,000,000 of capital this year and aiming for a 25% all-in profit margin. Despite concerns about housing affordability, Divvy's model differs from the 2007 housing crisis due to the lack of homeowners using their properties as ATMs and the presence of equity building. With 51% of customers buying back their homes after their lease, 20% preparing for a mortgage, and 30% turning over, Divvy's model offers flexibility and the potential for significant savings while mitigating the risks of a housing crisis.
Factors influencing the housing market: The housing market is influenced by complex factors including supply and demand, government regulations, and financialization. Current housing shortage leads to price increases, but decreased demand due to rising interest rates and new inventory may impact the market.
The housing market is influenced by complex factors including supply and demand dynamics, government regulations, and financialization. While there is currently a housing shortage leading to increasing prices, there are signs of decreased demand due to rising interest rates and new inventory coming online. However, the housing market reacts slower than other markets due to the lengthy process of planning, obtaining permits, and building homes. Additionally, government regulations and financial engineering in the housing market can have significant impacts on consumers and the market as a whole. The last major change in underwriting criteria led to the global financial crisis, and there is caution against repeating that mistake.
Fannie Mae's Cautious Approach to Housing Market: Despite potential housing market changes, Fannie Mae's risk-averse stance maintains conventional mortgage qualifications, while banks follow suit to avoid penalties.
Fannie Mae, due to its conservatorship and past experiences with major changes leading to negative consequences, is currently not taking significant risks in the housing market. This means that qualifying for a conventional mortgage may not change even if home prices, mortgage rates, and debt-to-income ratios increase dramatically. The banks, in turn, are following Fannie Mae's guidelines closely due to the high fees and penalties during the global financial crisis. The chances of a housing market collapse are a topic of debate, but there is agreement that the growth rate will slow down, and the ultimate outcome depends on the economy's performance over the next 24 months.
Conserving cash during uncertain times: Founders should focus on building their companies frugally, even during periods of abundant funding, as market conditions can change rapidly and they bear the ultimate responsibility for their companies' success.
The global financial crisis and the current market situation are different, with housing markets recovering more slowly than stock markets. For founders, it's essential to be conservative with cash, burn, and valuation, even during periods of abundant funding. Raising large amounts of capital isn't always the best move, as market conditions can change rapidly. Founders should focus on building their companies frugally, with the mindset that they could face financial challenges at any moment. While investors can provide valuable support, founders ultimately bear the responsibility for their companies' success.
Prioritizing Cash Flow Profitability During Tough Business Times: Focus on core business fundamentals, communicate effectively with team members, and stay true to mission and passion during uncertain times.
During tough business times, it's essential for a company's leadership to prioritize cash flow profitability and make decisions based on the current market situation. The CEO in this discussion emphasized the importance of staying the course and considering various scenarios, such as base, target, and off-ramp cases. Communication and collaboration among key team members, like the CFO, COO, and himself, are crucial for making informed decisions. The CEO also highlighted the importance of self-interest and staying true to one's passion and mission, even during challenging times. The conversation also touched upon the importance of education and learning from others, even in seemingly boring topics. Overall, the takeaway is that during uncertain times, it's essential to focus on the core business fundamentals, communicate effectively with team members, and stay true to one's mission and passion.
#AIS: Divvy Homes CEO Adena Hefets breaks down the state of the US housing market
Recent Episodes from All-In with Chamath, Jason, Sacks & Friedberg
"Founder Mode," DOJ alleges Russian podcast op, Kamala flips proposals, Tech loses Section 230?
(0:00) Bestie intros! Jason goes "Founder Mode"
(1:03) All-In Summit lineup announcement
(9:01) Understanding "Founder Mode"
(32:52) Bolt is back in the news as Ryan Breslow goes "Founder Mode"
(52:28) Tech's Section 230 protections might be in danger after new ruling
(1:08:45) DOJ charges two Russians with infiltrating US media company
(1:22:42) Kamala's economic pivot
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Intro Music Credit:
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Referenced in the show:
https://paulgraham.com/foundermode.html
https://x.com/chamath/status/1831003871344501069
https://www.google.com/finance/quote/PANW:NASDAQ
https://a16z.com/on-micromanagement
https://www.amazon.com/gp/product/0679762884
https://www.google.com/finance/quote/ABNB:NASDAQ
https://www.amazon.com/Five-Dysfunctions-Team-Leadership-Fable/dp/0787960756
https://techcrunch.com/2022/01/14/online-checkout-bolt-decacorn
https://www.paymentsdive.com/news/bolt-ceo-ryan-breslow-steps-down/618058
https://www.nytimes.com/2022/05/10/business/bolt-start-up-ryan-breslow-investors.html
https://techcrunch.com/2023/07/21/bolt-ex-ceo-ryan-breslow-subject-of-sec-probe
https://techcrunch.com/2023/10/06/bolt-ceo-discusses-moving-on-after-sec-probe
https://www.axios.com/2024/08/22/bolt-investors-baffled
https://x.com/MikeSacksEsq/status/1828795866590896599
https://www.youtube.com/watch?v=0JTcxIVlQfU
https://x.com/elonmusk/status/1830440852411326782
https://www.justice.gov/opa/media/1366266/dl
https://www.axios.com/2024/09/05/putin-harris-trump-2024-election-russia-interference
https://www.cnn.com/2020/07/30/tech/2020-election-russia-disinformation/index.html
https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model
https://www.liberalpatriot.com/p/the-rise-of-vince-lombardi-democrats
In conversation with Reid Hoffman & Robert F. Kennedy Jr.
(0:00) Bestie intros: Buttons are back for fall
(1:48) Reid Hoffman joins the show, reminiscing on PayPal stories with Sacks
(7:52) State of AI: Nvidia, cluster buildouts, competition
(19:51) OpenAI's corporate structure and thoughts on Elon's lawsuit
(29:09) Inflection AI's deal structure with Microsoft, Lina Khan's impact on the tech industry
(41:27) Reid's perspective on Kamala being hot swapped for Biden, funding groups that attempted to keep RFK Jr. off ballots
(52:02) Reid's thoughts on growing antisemitism
(55:03) Thoughts on Kamala's economic proposals: price caps, wealth tax, etc.
(1:04:19) How Silicon Valley views both candidates, why Reid funded legal action against Trump
(1:19:03) Robert F. Kennedy Jr. joins the show and recaps his campaign and decision to back Trump
(1:31:13) Falling out with the Democratic Party
(1:37:26) Potential role in the Trump Administration, Make America Healthy Again agenda
(1:58:01) Sacks recaps RFK Jr's campaign, RFK Jr. on Trump's legacy
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Referenced in the show:
https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-second-quarter-fiscal-2025
Massive jobs revision, Kamala's wealth tax, polls vs prediction markets, end of race-based admissions
(0:00) Bestie intros!
(1:59) Labor department revises down nonfarm payrolls by 818K
(15:02) MIT publishes data from first incoming class post race-based admissions ban
(36:16) Decision 2024: State of the race, Polls vs prediction markets
(52:33) Tale of two tickets: Private sector vs. Public sector
(1:05:19) Kamala Harris supports Biden's tax plans, including a 25% wealth tax on those with more than $100M in assets
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Intro Music Credit:
https://twitter.com/yung_spielburg
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https://twitter.com/TheZachEffect
Referenced in the show:
https://x.com/RealEJAntoni/status/1826290040374243821
https://x.com/DavidSacks/status/1664788807059660800
https://www.statista.com/statistics/269959/employment-in-the-united-states
https://fred.stlouisfed.org/series/FEDFUNDS
https://polymarket.com/event/fed-interest-rates-september-2024?tid=1724345228774
https://x.com/chamath/status/1826360792351957141
https://www.nytimes.com/2018/06/15/us/harvard-asian-enrollment-applicants.html
https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model
https://x.com/Polymarket/status/1826469365069271419
https://blockworks.co/news/polymarket-july-all-time-high-trading-volumes
https://www.crfb.org/blogs/kamala-harris-agenda-lower-costs-american-families
https://home.treasury.gov/system/files/131/General-Explanations-FY2024.pdf
Break up Google, Starbucks CEO out, Kamala’s price controls, Boeing disaster, Kursk offensive
(0:00) Bestie intros: Jason gets a dish named after him!
(5:27) DOJ considers breaking up Google after last week's antitrust ruling
(28:10) Starbucks replaces CEO with Chipotle chief
(45:37) Work culture, WFH's damage to informal mentorship
(59:20) Election update: Harris flips the polls despite unclear policy; reports of price control focus
(1:21:27) Boeing's Starliner disaster strands two astronauts in space
(1:33:54) Russia/Ukraine update: Ukraine wins land in Kursk, Nordstream report
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https://twitter.com/yung_spielburg
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https://twitter.com/TheZachEffect
Referenced in the show:
https://x.com/harry_schuh/status/1822030518038491400
https://www.wsj.com/business/starbucks-replaces-ceo-as-activist-investors-push-for-changes-43c33bff
https://s203.q4cdn.com/326826266/files/doc_financials/2024/q3/Q3-FY24-Earnings-at-a-Glance.pdf
https://www.google.com/finance/quote/CMG:NYSE
https://www.wsj.com/articles/low-wage-workers-climb-the-earnings-ladder-20acd8af
https://www.youtube.com/watch?v=mzLCpmRad5o
https://finance.yahoo.com/news/nearly-half-dell-full-time-215348261.html
https://x.com/Jason/status/1823826884112867609
https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model
https://x.com/JStein_WaPo/status/1823913395986305342
https://www.npr.org/2024/08/08/nx-s1-5068668/vance-walz-stolen-valor-military-record
https://www.washingtonpost.com/business/2024/08/15/kamala-harris-economic-policy-2024
https://en.wikipedia.org/wiki/Whip_Inflation_Now
https://www.google.com/finance/quote/WMT:NYSE
https://time.com/7009317/reintroduction-of-kamala-harris
https://x.com/TIME/status/1822951410956218385
https://www.axios.com/2024/08/11/kamala-harris-trump-taxes-tips-service-workers
https://www.socialcapital.com/ideas/2019-annual-letter
https://www.google.com/finance/quote/BA:NYSE
https://www.azquotes.com/quote/1413855
https://spacenews.com/41891nasa-selects-boeing-and-spacex-for-commercial-crew-contracts
https://newatlas.com/space/first-manned-crew-dragon-flight-date
https://qph.cf2.quoracdn.net/main-qimg-26d9f1dddb4d24469b593b28f40d277b-lq
https://spaceflightnow.com/2016/08/02/boeing-nears-fix-for-cst-100-starliner-design-hitch
https://spacenews.com/crewed-starliner-test-flight-could-slip-to-2019
https://www.boeing.com/space/starliner/launch/archive.html
https://boeing.mediaroom.com/2024-06-05-Boeing-Starliner-Spacecraft-Completes-Successful-Launch
https://boeing.mediaroom.com/2024-06-05-Boeing-Starliner-Spacecraft-Completes-Successful-Launch
https://www.washingtonpost.com/world/2022/09/27/nord-stream-gas-pipelines-damage-russia
https://www.wsj.com/world/europe/nord-stream-pipeline-explosion-real-story-da24839c
https://www.washingtonpost.com/national-security/2023/04/03/nord-stream-bombing-yacht-andromeda
https://seymourhersh.substack.com/p/how-america-took-out-the-nord-stream
Yen Carry Trade, Recession odds grow, Buffett cash pile, Google ruled monopoly, Kamala picks Walz
(0:00) Bestie intros: Jason is back from COVID!
(3:55) Yen carry trade unravels, Japan's unique economic issues
(27:22) Recession odds growing, is the US already in a "lowkey recession"?
(45:46) Why Buffett is selling Apple and massively increasing Berkshire's cash position
(55:54) Major antitrust ruling against Google, predicting outcomes
(1:22:41) Kamala picks Minnesota Governor Tim Walz as her running mate
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Intro Music Credit:
https://twitter.com/yung_spielburg
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https://twitter.com/TheZachEffect
Referenced in the show:
https://www.wsj.com/health/wellness/covid-guidelines-2024-cdc-symptoms-contagious-cdefb6b8
https://tradingeconomics.com/japan/interest-rate
https://pebblewriter.com/the-yen-carry-trade-explained
https://www.statista.com/statistics/604424/median-age-of-the-population-in-japan
https://x.com/GoldmanSachs/status/1793998451291615316
https://www.nytimes.com/2024/07/10/business/archegos-bill-hwang-guilty.html
https://fred.stlouisfed.org/series/UNRATE
https://polymarket.com/event/how-many-fed-rate-cuts-this-year
https://www.google.com/finance/quote/.DJI:INDEXDJX
https://www.google.com/finance/quote/SPY:NYSEARCA
https://www.google.com/finance/quote/.IXIC:INDEXNASDAQ
https://www.google.com/finance/quote/ABNB:NASDAQ
https://x.com/RealEJAntoni/status/1799085407394845087
https://www.google.com/finance/quote/AAPL:NASDAQ
https://www.ft.com/content/2aa3b542-d4e4-4afb-8d81-89bb734d7b17
https://www.documentcloud.org/documents/25032786-googleruling
https://x.com/Jason/status/1820823406503157764
https://x.com/chamath/status/1817893425137508474
https://www.vox.com/2018/10/31/18039528/tech-employees-politics-liberal-employers-candidates
https://www.natesilver.net/p/tim-walz-is-a-minnesota-nice-choice
https://x.com/NickFondacaro/status/1820840411335737852
https://x.com/KamalaHQ/status/1820918063966962143
https://amp.cnn.com/cnn/2024/08/06/politics/tim-walz-inside-harris-vp-pick
https://www.nytimes.com/2024/08/07/us/politics/vance-walz-military-record.html
Kamala surges, Trump at NABJ, recession fears, Middle East escalation, Ackman postpones IPO
(0:00) Bestie intros!
(0:38) Election update: Dems energize around Kamala, policy questions remain
(19:33) Trump's NABJ interview: smart or risky?
(33:07) Markets expect rate cut in September, but are we already in a recession?
(40:58) AI buildout causing short-term volatility
(45:46) Assassination of Hamas leader Ismail Haniyeh: are we inching closer to war in the Middle East?
(1:06:17) Bill Ackman withdraws Pershing Square USA IPO
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Intro Music Credit:
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model
https://x.com/jeffstorobinsky/status/1818722254542590012
https://apnews.com/business/inflation-general-news-31d83873be23c658d66526745482d572
https://x.com/grdecter/status/1819362069797654784
https://www.wsj.com/economy/consumers/inflation-interest-rates-wealth-loans-51d4276e
https://www.foxbusiness.com/economy/initial-us-employment-reports-overstated-jobs
https://www.foxbusiness.com/personal-finance/q1-gdp-slows-inflation-dips
https://www.ft.com/content/bad6ca0b-82fb-4ddb-b6b8-bd09dacd47ae
https://www.google.com/finance/quote/NVDA:NASDAQ
https://www.google.com/finance/quote/META:NASDAQ
https://www.nytimes.com/2024/08/01/world/middleeast/how-hamas-leader-haniyeh-killed-iran-bomb.html
Mag 7 sell-off, Wiz rejects Google, UBI, Kamala in, China's nuclear buildout, Sacks responds to PG
(0:00) Bestie intros: Nostracanis appears!
(3:50) Wiz turns down Google's $23B offer, intends to IPO
(13:30) CrowdStrike's rough week
(17:51) Market update: Mag 7 sell-off?
(22:47) Sam Altman's UBI study was a mixed bag
(42:02) Succession IRL: Rupert Murdoch's children are in a legal battle over the future of his media empire
(48:35) Biden out, Kamala in: Hot swap complete, speed-run primary subverted
(1:03:08) Antisemitism rising, Josh Shapiro as a VP candidate
(1:08:37) Sacks responds to smear campaign
(1:26:46) Science Corner: China's nuclear buildout
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Intro Music Credit:
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.cnbc.com/2024/07/23/google-wiz-deal-dead.html
https://cloudedjudgement.substack.com/p/clouded-judgement-71924-big-tech
https://www.cnbc.com/2024/07/12/snowflake-shares-slip-after-att-says-hackers-accessed-data.html
https://www.crowdstrike.com/blog/falcon-update-for-windows-hosts-technical-details
https://www.cnn.com/2024/07/23/business/delta-flight-cancellations/index.html
https://www.google.com/finance/quote/CRWD:NASDAQ
https://www.google.com/finance/quote/SPY:NYSEARCA
https://www.google.com/finance/quote/TSLA:NASDAQ
https://www.cnbc.com/2024/07/23/alphabet-set-to-report-q2-earnings-results-after-the-bell.html
https://www.google.com/finance/quote/VIX:INDEXCBOE
https://public.websites.umich.edu/~mille/ORUS_Health.pdf
https://www.nytimes.com/2024/07/24/business/media/rupert-murdoch-succession-fox.html
https://thehill.com/homenews/campaign/4790684-kamala-harris-polls-donald-trump-wisconsin
https://www.nytimes.com/2024/07/05/us/politics/biden-interview-stephanopoulos-abc.html
https://www.politico.com/news/2024/07/03/biden-no-ones-pushing-me-out-00166497
https://www.axios.com/2024/07/23/inside-harris-sprint-democratic-nomination
https://www.politico.com/news/2024/07/21/why-biden-dropped-out-00170106
https://apnews.com/article/biden-election-trump-democrats-329071c25dfaaae583b5f06184586267
https://x.com/JoeBiden/status/1815080881981190320
https://x.com/paulg/status/1816334112086712830
https://x.com/paulg/status/1771640321446683060
https://www.sec.gov/files/litigation/admin/2017/33-10429.pdf
Trump assassination attempt, Secret Service failure, Inside the RNC, VC liquidity problem
(0:00) Bestie intros: Live from the RNC!
(1:34) Reacting to the assassination attempt against President Trump
(12:52) Impact of charged rhetoric
(21:15) Secret Service's massive failure; institutional decay
(37:02) Inside the RNC: Sacks breaks down his speech
(41:16) Trump picks JD Vance as his running mate
(58:52) All-In Summit scholarship applications are LIVE!
(59:46) VC update: Exits creeping back, Sequoia's secondary offering for Stripe, Google in talks to acquire Wiz for $23B
Apply for the All-In Summit:
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Intro Music Credit:
https://twitter.com/yung_spielburg
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Sacks RNC speech:
https://www.youtube.com/watch?v=rLArznk0Ns4
Jason's links (16:34):
https://pt.icct.nl/article/donald-trump-aggressive-rhetoric-and-political-violence
https://www.nytimes.com/interactive/2019/08/11/business/media/el-paso-killer-conservative-media.html
Referenced in the show:
https://x.com/TeslaVee/status/1813785645472690479
https://www.cnn.com/2024/02/08/politics/fact-check-trump-january-6/index.html
https://x.com/DylanByers/status/1811855698566975936
https://x.com/newrepublic/status/1810009748697448541
https://pt.icct.nl/sites/default/files/import/pdf/nacos-et-al.pdf
https://www.nytimes.com/interactive/2019/08/11/business/media/el-paso-killer-conservative-media.html
https://www.youtube.com/watch?v=pot7R0Affjs
https://x.com/cb_doge/status/1813289249288134660
https://x.com/mualphaxi/status/1812579998735491327
https://x.com/DavidSacks/status/1813270784942494110
https://theintercept.com/2022/07/14/jan-6-texts-deleted-secret-service
https://x.com/yashar/status/1813757637584134615
https://www.nytimes.com/2024/07/16/us/politics/trump-vance-vp-decision.html
https://x.com/VivekGRamaswamy/status/1812929198433964249
https://x.com/RitaPanahi/status/1813790835332595863
https://x.com/RWTNews/status/1813779819697725669
https://www.youtube.com/watch?v=h4FnpoNU8AI
https://www.youtube.com/watch?v=Xejs4gGUpjE
https://www.axios.com/2024/07/15/sequoia-capital-stripe
https://pitchbook.com/news/reports/q2-2024-pitchbook-nvca-venture-monitor-first-look
https://www.axios.com/2024/07/18/president-biden-drop-out-election-democrats
Biden chaos, Soft landing secured? AI sentiment turns bearish, French elections
(0:00) Bestie intros!
(4:29) Macro picture: Soft landing secured? Rate cut on the horizon? Plus: partisan economic perception
(20:48) AI sentiment turns bearish due to massive spend with little revenue
(40:51) A16Z's 20K GPU cluster
(46:41) Broad implications of France elections
(1:06:10) Hot swap update: President Biden holds firm as backers flee, press corps chaos, speed-run primary chances
Apply for All-In Summit: https://summit.allinpodcast.co
Follow the besties:
https://twitter.com/DavidSacks
Follow on X:
https://twitter.com/theallinpod
Follow on Instagram:
https://www.instagram.com/theallinpod
Follow on TikTok:
https://www.tiktok.com/@all_in_tok
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://x.com/teddyschleifer/status/1811423421861113915
https://www.cnbc.com/2024/07/11/cpi-inflation-report-june-2024.html
https://fred.stlouisfed.org/series/UNRATE
https://www.google.com/finance/quote/SPY:NYSEARCA
https://ycharts.com/indicators/sp_500_pe_ratio
https://www.cbsnews.com/news/cbs-news-poll-analysis-americans-rate-economy-partisan-lens
https://www.sequoiacap.com/article/ais-600b-question
https://x.com/natfriedman/status/1668650915505803266
https://x.com/CilComLFC/status/1810110921383010563
https://www.nytimes.com/2024/07/10/opinion/joe-biden-democratic-nominee.html
https://x.com/greenfield64/status/1811199262350532767
https://x.com/Olivianuzzi/status/1808924240529535352
The Jonathan Haidt Interview
(0:00) New format: The All-In Interview!
(0:59) Jonathan Haidt joins Jason and Friedberg: broader themes of his work, gamification and supercharged social media
(12:39) Understanding how humans are wired from an evolutionary biology perspective
(27:22) Haidt's proposals to help younger generations
(33:12) Linking themes and trends in Haidt's books with recent college protests
(48:17) Explaining traditional liberalism and conservatism
(56:55) Lightning Round: Parenting tips, Gen Z employees
Jonathan's website:
Buy The Anxious Generation:
https://www.anxiousgeneration.com/book
Follow the besties:
https://twitter.com/DavidSacks
Follow on X:
https://twitter.com/theallinpod
Follow on Instagram:
https://www.instagram.com/theallinpod
Follow on TikTok:
https://www.tiktok.com/@all_in_tok
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.anxiousgeneration.com/take-action
https://www.azquotes.com/quote/1385350
https://www.azquotes.com/quote/926752
https://www.thecoddling.com/chapter-1-antifragility
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Copyright 2023 Many Happy Returns
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Marry the House, Date the Rate: Navigating the Real Estate High Tide
Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini, hosts a special episode of the Martini Mortgage Podcast titled "Marry the House, Date the Rate: Navigating the Real Estate High Tide.” Kevin explores the popular real estate advice of committing to a home while being flexible with mortgage rates, especially in today's unpredictable market.
Key Topics Discussed:
Current Housing Crisis and Demand: An examination of the U.S. housing shortage, with insights from the National Association of Realtors. Understanding the gap between demand and supply and its impact on home prices.
Mortgage Rate Trends: Analysis of historical and current mortgage rates, emphasizing the potential benefits of refinancing in a fluctuating rate environment.
Strategy for Today’s Homebuyers: Discussing the wisdom behind "marry the house, date the rate," and how this approach can benefit homebuyers in the current market. The emphasis on securing a home at today's prices and refinancing when rates are more favorable.
Buydown Strategy Explained: Introducing the 'buy down' strategy as a way to secure lower rates in the initial phase of a mortgage, effectively getting 'tomorrow’s rate today.'
Personalized Mortgage Guidance: Emphasizing the importance of understanding individual options in home buying and mortgage strategies. Offering personal advice and assistance to listeners.
Takeaways:
Market Predictions: Insights from market experts on the future of home values and mortgage rates.
Customized Homeownership Strategies: Encouraging listeners to explore their options, with a reminder of the significance of homeownership and the importance of being informed.
This episode of the Martini Mortgage Podcast offers a blend of expert advice, market analysis, and practical strategies for navigating the real estate market's current challenges and opportunities.
Kevin Martini | NMLS 143962 | Certified Mortgage Advisor | Martini Mortgage Group at Gold Star Mortgage Financial Group, Corporation | NMLS # 3446 | 507 N Blount St, Raleigh, NC 27604 | (919) 238-4934 | www.MartiniMortgageGroup.com | Kevin@MartiniMortgageGroup.com | Equal Housing Lender
The 2023 Housing Market & What To Know About Homeownership; Plus, Houston Habitat for Humanity’s Master-Planned Community
Town Square with Ernie Manouse airs at 3 p.m. CT. Tune in on 88.7FM, listen online or subscribe to the podcast. Join the discussion at 888-486-9677, questions@townsquaretalk.org or @townsquaretalk.
First, we are joined by Allison Hay, the Executive Director for Houston Habitat for Humanity, who discusses the work the non-profit organization does to help empower people to fully realize home ownership. She also shared exciting news about their new project, Robins Landing, which is Habitat’s first master-planned community.
If you would like to learn more about Houston Habitat for Humanity, visit HoustonHabitat.org.
Then, June is National Homeownership Month. We are joined by Realtor Jennifer Wauhob and Senior Loan Officer at Gold Star Mortgage Charles Christmas, who discuss the housing market right now, what we can expect in the near future, whether or not now is a good time to purchase a home, and what to know about obtaining a loan.
Guests:
Allison Hay
- Executive Director, Houston Habitat for Humanity
- Realtor
- Immediate Past Chair, Houston Association of Realtors
- Senior Loan Officer, Gold Star Mortgage
Town Square with Ernie Manouse is a gathering space for the community to come together and discuss the day's most important and pressing issues.
We also offer a free podcast here, on iTunes, and other apps
There's No Crying in Real Estate!
But so many people are crying! A new survey shows that 50% of home buyers said the real estate process left them in tears. Here’s why and how we may be able to cheer them up.
Follow @housingmuse on Twitter and Instagram.
Visit housingmuse.com to listen to other episodes and view blog posts.