x.com/KobeissiLetter/status/1797792636935561454

Ai is so freaking insane... if you guys arent useing it as your own little personal assistant you really should.

Never heard or seen a book but here we go

Here's a more in-depth summary of Philip J. Anderson's book "The Secret Life of Real Estate and Banking", focusing on the aspects related to the housing crisis:
Anderson's book delves into the intrinsic link between real estate and banking, exposing a recurring pattern of boom and bust that has shaped the industry for centuries. He argues that this cycle is fueled by land speculation and banking practices, leading to predictable and devastating consequences.

Key points related to the housing crisis include:

- The 18.6-year real estate cycle: Anderson identifies a consistent pattern of boom and bust in the real estate market, with the housing crisis being a stark example of this cycle's destructive power.

- The Role of Banking: Anderson critiques the banking system's complicity in fueling the housing bubble through lax lending standards, excessive credit creation, and the proliferation of mortgage-backed securities (MBS) and collateralized debt obligations (CDOs).

- The 24-hour Real Estate Clock: Anderson's clock plots the cycle's progress, highlighting the stages of boom, bust, and recovery. He argues that understanding this cycle can help investors navigate the market and avoid catastrophic losses.

- The Housing Bubble: Anderson examines the factors that contributed to the housing bubble, including:

? Subprime lending and the proliferation of toxic mortgages

? Excessive speculation and flipping

? Failure of credit rating agencies

? Global imbalances and excess liquidity

- The Crisis Unfolds: Anderson recounts the events leading up to the crisis, including:

? The housing market peak in 2006

? The beginning of the subprime meltdown in 2007

? The global financial crisis in 2008

? The ensuing recession and foreclosure epidemic

- Lessons Learned: Anderson emphasizes the importance of understanding the real estate cycle and the dangers of unchecked speculation, excessive debt, and lax regulation. He advocates for a more informed approach to investing in real estate, recognizing the cyclical nature of the market.

By examining the historical context and underlying mechanisms that led to the housing crisis, Anderson's book offers valuable insights for investors, policymakers, and anyone seeking to navigate the complex and often treacherous world of real estate and banking.



Ok

Around 1990, there was an economic downturn in the Western world, known as the early 1990s recession ?. Some of the factors contributing to this recession include:

- Central banks' restrictive monetary policy, mainly in response to inflation concerns
- Loss of consumer and business confidence due to the 1990 oil price shock
- End of the Cold War and subsequent decrease in defense spending
- Savings and loan crisis
- Slump in office construction following overbuilding during the 1980s

The recession led to the victory of Bill Clinton over incumbent president George H. W. Bush in the 1992 U.S. presidential election, the resignation of Canadian prime minister Brian Mulroney, a 15% reduction in active companies in Finland, civil disturbances in the United Kingdom, and the growth of discount stores in the United States and beyond.

Froth Goth said..
Holly flipping ****...

Is that not exactly whats happening?

I know like 3 different people who have lost theyre marbles lately after being forced to buy like 800 to 1.5 mill propertys cause they divorced and needed a 3 bedder for the kids etc etc and after a few months its just way too much

Was all the younger generation also no haveing kids back in 2008? All i remember was the aussie doller was stronger then the usd and so everywhere i went kiteing in asia i could afford stuff like chips and snacks etc

I was essentially blissfully unaware of anything at all other then the occasional monkey stealing my weed


Sooo what was 20 years before 2008?!?

I have no recollection of 1990 was there houseing issues and money issues?

I think the AUD was on parity with the USD because they took a hammering and we were doing well with mineral exports. It was an unusual time.

In 1990, or at least a few years around that, we were either in recession or close to it. Unemployment was high. From memory they bought in HECS around the same time.

Housing was cheap because interest rates were very high.

But housing was also not affected by capital gains discounts so it hadn't become the national 'get-rich-quick' scheme of choice. Back then, people used to buy houses to actually earn rent, not for a magical pay day some way down the track.

Even in the early 2000s it hadn't quite turned into the national tragedy it is now, but once people realised that banks like lending money and they get capital gains discounts after a year, house 'flipping' started.

Okay and immm back ... hmmm shorts didnt go down..m this is gonna take some time...

Oops ment to have volume clicked all good... yep this is gonna be ahwhile. Beddy byes

There was so many house flipping tv shows i was the only family member who wasnt involved in one at one point. tv for decades was either flip a house or come here and eat this.

Ahhh well

Now i cant even make toast in a treehouse i must have missed that episode of burks backyard

Maybe running away from the nysx amd starting my own stock exchange in texas will fix things