Beijing, the city with the most billionaires in 2023, has not only ceded its spot to New York, but has dropped to #4, overtaken by London and Mumbai...

Afghanistan is the unhappiest country in the world right now, and is also 60% unhappier than over a decade ago, indicating how much life has worsened since 2010...

“Rents will definitely come down... And once that debt workout happens, there’s going to be a larger reset.”

The solution to a problem shouldn’t make the problem worse...

...remain cautious about economic exuberance. Those forecasts are often disappointing...

There seems to be an enormous disconnect between what is actually happening in the real economy and the economic narrative that they are constantly pushing. 

...depends if you're white or not?

Behind the facade of normalization, even high-income lifestyles have been ghetto-ized...

"Don't want to lift the finger. For the money." 

This is why those who understand these dynamics are getting out, even though the city was their home...

Mortgage rates above 7% continue to plague existing-home sales, which are "stuck"...

Bidenomics 101: the American dream of owning a home has become the American nightmare for almost half of the entire population...

“The combination of high mortgage rates and prices have brought homebuyers’ median monthly housing payment to a record $2,775, up 11 percent year over year...”

...the situation is more accurately described as more people exiting certain blue states – e.g. New York and California – and heading to other states in general...

...final regs to enforce 2019 law may finally come later this year

...our Wetware 1.0 instantiated around 200,000 years ago leads us to respond in a very limited number of ways to threats and windfalls.

It's nice to anticipate sunny weather, but it's a good idea to carry an umbrella just in case the forecasts prove overly optimistic...

"...home sales are stuck because interest rates have not made any major moves..."

In the real world labor market, 2024 has been a shitshow of layoffs...

Establishment media sources lie incessantly about our financial conditions, and when they are finally cornered and forced to admit how bad things are, they then lie about the causes...