I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Even the landlords who don’t use RealPage will raise their rents because everyone else is. My rent was raised by 40%! The landlord said “current market value for the neighborhood “. How does he know what everyone else is paying? Scott, if news homes get built, it will only be luxury housing for max profit. Like the car market now. Product at high prices for the well off.
This is what happens when you are in a sellers' market. If your landlord had to fight to keep you renting from him, he would not have raised your rent as much. As always, the solution is to build more homes!
Yes, it's not just the firms market share, it's their ability to define the base rent that influences everyone else. It's also a feedback loop. The data says to raise rent. Others also raise rents, which tell the algorithm to raise rents again....
yup, even if they "only" control 12% of the market, that 12% when priced really high shifts the overall average up, this then fuels yet more increases as it adds "justification" for rent increases
You’re right….where I live they tear down older duplexes right near me that were perfectly fine then build expensive ones twice the size. 3 have gone up within 300 feet of me. These big corporations aren’t building / they are buying lots of property in order to monopolize….and screw people.
As a former landlord, I found the market controlled the rent. I could not increase rents in 2004-2007, because anyone with a heartbeat could get a home loan. My availability of good quality tenants dropped to near zero. My properties were worth more for sale than for rent. In 2009 buying homes were cheap and rents were cheap. By 2018 rents were up 45% over 2009. Still I could only charge what the market agreed to pay. We are short 4 million single family homes. Until we fix that problem homes will cost more and more people are going to retire overseas. Cites don’t like “affordable housing,” because it has a lower tax base and requires more city services like fire, police and EMS. We need more homes in the 1400 to 1700 square foot sizes for starter homes. But why build affordable housing when you can clean up on big houses with big price tags. The population is growing and immigration is not slowing down.
Good point. No builder is going to build a 1600-2000 square foot house where I live. 20 years ago I saw all the Mac-mansions going up in my neighborhood in Dallas…a cool one…homes that where ugly / not custom / trying to look fancy and probably with mediocre materials. Max square footage for max profit. The question I have is who is buying these expensive looking duplexes going up now
Bogota is not warm. Possibly warmer than Glasgow, but as far as Colombia, Scott picked the coldest city in the country. It is beautiful and green, and magical.
Corporate profit and stock prices should not be tied to rents - shelter being a basic human right, but they should pivot to highly incentivize investors and builders with tax breaks and interest rate discounts to increase builds
Someone is coming across as particularly tone deaf... Housing should not be an asset class. The financialization of everything is used to justify the exploitation of every human who needs shelter--hint, hint, that is every human. I agree with Ed, nuance only matters when the discussion has a solid foundation. Scott's analogy of arguing with a girlfriend as equivalent to arguing the case for multinational corporations is condescending and a false equivalency: a relationship is grounded in the premise that both parties feel seen and recognize shared values. This is not at all the case with corporate investment funds; these corporate landlord's care only for shareholder wealth--the same as healthcare executives. Talk about a lack of nuance, Scott, treating Ed's argument in the most reductive way possible.
First, I am a huge of the Pod and both of you. Ed, Ed, Ed. Your comments about Greenland! OMG. Like Scott, I am regularly impressed by how someone your age is so competent, articulate, smart, talented, etc. Your Greenland commebnts betrayed a shocking negative in terms of international law and politics that I expected any Princeton graduate to know. Scotts retort about buying Saudio Arabia was spot on. Dude, "the people of Greenland" are about 60,000. They are part of Denmark, 6 million. They do not get to secede from Denmark the same way Princeton cannot secede from NJ. Or Texas from USA. Also, Greenland is the over 4x the size of California. There is a deal to be had...really? Heavens help us if someone of your smarts thinks there is a deal to be had. Again, love the pod.
Although I'm far more conservative then Prof G, and consider him to be an old Jacobin, i love watching him for his great sense of humor. He's so quick and real.
No, you don't fix the housing crisis by subsidising houses. Assuming that average landowners are wealthier than average tax payers or average government spending recipients, that would surely be a transfer of purchasing power to landowners from tax payers/receivers. Although, your implication is right... that house builders build more when land prices are rising and a subsidy would help them rise, but that's really not the answer. The answer is to take money out of land, not put it in. Raise taxes on land and you can lower them on wages, transferring wealth to non-landowners. For land taxes, economic theory suggests that the economic incidence falls almost entirely on the landowner not the renter or buyer of land.
Well over a decade ago builders stopped building first time buyer tier homes to focus on more profitable options of second/third time buyers well into their careers. Lowering the first time buyer stock has created a huge demand problem for the graduating generations. Then, in 2018-19... Bidding wars began with people spending 50-150k over asking. Rates were around 3% which overinflated homes massively and banks were approving loans for 450K on homes previously valued at 250k. Covid hits and the rates plummet to 2.25% and a secondary explosion in inflation of housing plus refinancing. Fast forward 4 years and all property taxes are rising due to the housing market being overinflated, no one wants to move because you'd have to downsize based on the current interest rates lowering the stock even more and because housing is a pretty stable asset (without fraud like 2008) prices have stayed high. Powell should have raised interest rates in 2018-19 after the tax cuts of 2017 when the market were running hot to stabilize the low supply but because he didn't and the added low covid rates we're stuck with 7% for the foreseeable future coupled with still low supply, plus people stuck in old rates plus still no reason for builders to build first time tier homes. That's been our market from 2010-2025.
Part of the housing needs to be regulated in the front end. Cheap, modest multifamily housing needs to be financed publicly with very low tax rates. Luxury and vacation rentals are completely private with high property tax and carrying costs...we have over 15 million vacant units... So we should look at taxing unreasonable vacancies or removing tax advantages for " losses," in vacancy.
I work with stock images regularly and Getty is a monster. They've been destroying the competition for twenty years (maybe longer). The alternatives are hit or miss but we try. AI TRULY does not do a great job of replacing real photographs.
I too deal with stock images and though my Getty reps are very nice, the organization is TOO big to manage all of their holdings. Only a fraction of what they own is searchable, and the point of keeping images is not just to generate new ones through. It's also very much to make the old/ historical ones accessible. Image research and selection are also very much a creative activity. Most people don't understand it at all.
Don't forget that once an investment firm buys a house, they never put it on the market again. Thereby the supply of available housing has less to do about building more than breaking up monopolies that keep houses off the market.
Institutional landlords can take advantage of economies of scale and the information asymmetry Scott mentioned to get bigger and bigger with retained earnings. And 12% may not seem like a lot, but when there is already a housing shortage due to underproduction since 2008, 1 in 8 units is very important.
I work in property management. Apartment buildings are blindingly expensive to run. Be a good tenant that is clean, quite and pays on time. The manager will give you so many breaks and discounts. Because good tenants make our lives so much easier.
Not if it’s corporate run. They don’t know you personally and can charge more if you leave. I am a tenant and have lived at small and corporate apartments, I’ve experienced the difference. Turnover is built into their profit model.
Breaks and discounts like what? If you’re paying on time then it’s not a break and it’s not a discount. You’re telling me that you lower someone’s rent year after year? You probably think giving someone their full security deposit back is a “break” while the tenant puts the same amount in coins to your laundry machine
lmao this just isn’t true for most people. i had to take my landlord to small claims court because he didn’t pay me back for prorated rent after he charged my the full month on my final month. i lived there for 2 years. paid rent early every month. kept everything super clean and even did some of my own repairs because the maintenance guy was busy. some people are just shitty.
26:56 2 things about the rent price-fixing: a) the clustering of the rental units matters more than the volume total. They can commit the crime if they've cornered a region, for eg, but it's less so when spread out evenly. B) building affordable housing is more valuable than building a new bridge. Meet carbon targets with shorter commutes, boost economy by more discretionary income, quality jobs, supply minimizes the alleged crimes. Don't forget ai is just a spreadsheet in this cas. It's not ai its just tables of data, this is happening in every industry in the country. That's how companies make business plans, with pricing algorithms. It's absurd to call it price fixing unless they're also responsible for the shortage in inventories.
Correction: Roman Gabriel was of Filipino ethnicity, hailing from North Carolina. I remember him once being described as "the largest Filipino in the world" by a color commentator.
We allocated $60B to Ukraine and get nothing out of it, we could allocate $60B to buying Greenland and I'm guessing they might be a LOT happier about becoming a US territory (that's about $1M per Greenlander). The US would be FAR better off if we could convince Greenland to join us as a territory (or even as a state, presuming they wanted that). It would be a huge win for the US and even at a huge expense, it would definitely be worth it.
I don't think you can just look at "hey they only hold 12%, so it's not enough to control the market" - but if their ownership is concentrated in specific markets, that region could have a much higher impact.
What if we said, "we'll give every person in Greenland a million dollars a year for the next 10 years"? That's $60 billion a year for the next 10 years, which would be a fraction of the military budget.
Trump must wish that he had gotten into politics years ago what with the money he's making now. Also, if Greenlanders want to align with a higher power, why not with Canada?
Us flagged vessels make up 0.57% of all cargo shipping due to high insurance prices. Many are registered in Panama to avoid high insurance and labor laws so i don't see the need for the canal to avoid the high toll prices.
Great comment Scott regarding Trump's comment on Greenland and the Panama Canal. I have been saying on social media that Trump's comments are absolutely stupid. The US already has a military base on Greenland.
9:30 - quantum…Only national security concerns would be true motivator for pushing quantum computing over the finish line. These technologies will likely require the same urgent, mission focused efforts seen in military led projects of the past. Progress could remain sluggish & stuck in the realm of academic research and small scale experiments.
In the case where you try to solve the supply side issues and there are more homes being built, I don't see what would prevent these same firms from snatching them up with 20% over asking price offers and just expanding their offerings, still keeping them at premium "market will bear" rates and/or vacant while waiting for those higher rents. Without any guardrail, how do we prevent the current trend perpetuating and those speculative real estate firms just growing bigger?
the young fellow always has a righteous fury in defense of the poor and working class. when scott galloway, whom i respect, was talking about just move if you want to avoid taxes, ed rightly pointed out but what is the end game? if every country in the world is in a race towards 0 taxes then what country will have a functioning government not dominated by the extremely wealthy? and in the case of rent and rent algorithm he is correct, the government should GOVERN against the so-called free market because eventually people will get so mad that the pitchforks will come out
But at least in Europe (ex UK), landlords cannot raise rent like 30% from one month to another. I can speak for Germany as it's in the law i.e. rent raises are capped. But still, the problem exists but not to the same degree as in the USA.
11:20 but that’s exactly why I bought in because at 10 bucks it seemed like it was pretty fair. And even I’m getting wrecked. Feels oversold even with the truth lens.
I'm with you, Ed - there needn't be any nuance when you decide to flip the monopoly board over. Allowing massively rich corporations to game housing to maximize while you can't drive down a street in any city without seeing skid rows and tent cities for the sake of maintaining "capitalist values" is as inhumane as it gets.
Yeah I can hear Sal Mercogliano over on the YT Channel "What's Goign on with Shipping?" b*tch slapping Scott over that dumb remark. But then Scott is kinda right these are nonsense claims about Greenland and the Panama Canal. What Scott has also forgotten is Obama did tell Trump to shut his mouth at the same stage in 2016/17 when Trump was mouthing off.
I'm not sure but I believe there's millions of vacant homes in America? Maybe 30K+ in Cleveland alone? If true that would mean a lack of homes in prime locations but not a lack of homes in and of themselves? Just a thought. Love the show.
There are many cheap places to live in US, but no one wants to live there. The problem is the density is not high enough where people want to live. That is due to people living there putting in zoning restrictions, because it benefits them when prices go up.
ALBERTSONS AND KROGER WOULD ELIMINATE 5 OUT OF 6 GROCERY STORES IN MY IMMEDIATE NEIGHBORHOOD AND 170 GROCERY STORES IN WA STATE AFTER THE MERGER. THEY SUBMITTED THE LIST OF STORES IT WOULD SHUTTER TO TRY AND AVOID THE BLOCKING. Get informed on this one. What the heck would we do with one and only one grocery store in a large city. The replacements would be small grocery stores years from now with higher prices.
Investing in Bogotá, especially in fútbol, sounds like an exciting venture! While it may not be the most lucrative investment, it certainly has the potential to be quite enjoyable. It would be fantastic if this inspires further ventures, perhaps in tourism, to continue supporting growth in our beautiful Colombia. Welcome, and best of luck amigo!
in Red Storm Rising, Iceland was the island that was of strategic importance. Stornoway, in Scotland, is where the F-14 fleet resided after the chapter Dance of The Dragons. There is no mention of Thule in Greenland.
The housing market is a series of local problems; and it's impacting people up and down the economic ladder. Rent increases are killing the poor. It's a different issue in different regions but all together it is market failure: the supply cannot meet the demand. One of government's prime duties is to maintain the market. Plus--you know--people gotta live somewhere.
A scorecard (of deals) is the amazing idea of the day. Many orgs are busily cataloging various promises he's made, deals he's discussing and other bits and pieces we've heard to keep failures in full view. Bingo card(s), perhaps?
ALSO, someone needs to research how many actual brands are left in a grocery store. I'd guess 80% of the product categories have a store brand with about 30% of the store no longer has a name brand because they have been run out of business due to store brands using their monopoly to kill them off. Just like Amazon uses 3rd party sellers.
Landlords are leaving lots and lots of apartments un-ready to rent. providing small maintenance staffs saying apartments are not ready. supply and demand.
Step 1. Make Greenland independent. Step 2. Offer to pay each of the 58,000 citizens of Greenland a two million dollar (tax free) payment if they vote in favor of joining the US.
It is simple cartel behavior mediated by cloud capital. If it is bad for the government to set prices why wouldn't it be equal bad if private firms agree to set prices in this centralized manner?
Ed you want rule by man because you don't like the markets response to reality, reality is permits are slow, expensive and rare. Scott in spite of being to the left of real free markets in his head, is totally right on this,. TRhe problem is there is no free market in housing, the governments especially at the most local level have screwed it up. Just an Architectural engineer here who deals with this all the time.
In Cartagena now, and it's awesome! We'll be in Bogota in a couple of weeks, after Medellin. We live in DC and being in Colombia for the month of Jan to escape SAD.
I appreciate Scott's perspective on so much then when he's so dismissive of Trump, I lose a lot of respect. Scott should talk about his dealmaking prowess and how he would approach the Greenland situation rather than all the emotional hand-waving which comes off as a jealous man who is less rich than Trump and then goes on to talk about him buying soccer teams in third world countries, which is exactly the same "rich kid" stuff that he critize Trump for doing. Scott needs to look in the mirror here as he's designed an anti-Trump echo-chamber which is a bad look. Trump is and wiill go down as the best President America has had in perhaps a century.
Re Panama, Greenland, & gulf of America, I'm disappointed that they fall for the distraction trap. Trump 101 is say something outlandish over here so you you're not paying attention to something over there (i.e., appointments, etc.). Please be better than linear TV.
Scott you’re normally so much more nuanced but in this case you’re repeating a lie about “using force to annex.” None of that was what he said when bullied into a corner to rule out military use entirely. He was asked if he would forever rule out the idea of military action to secure the canal at any point in the future. To think in a conflict with another great power that we would allow the Panama Canal to be locked out to use by our Naval interests and that we wouldn’t take steps to insure that if any other great power attempted it is ridiculous. No president would commit to that and you’re repeating a narrative lie.
Yes. The main point it's that it's a ridiculous, stupid, uninformed idea...it's more if s sign of Trump's mental decline than a serious policy proposal. As are many of Trump's ideas.... Child, matches and cases of Kerosene... Yup.
Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow.📈
Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.
@@bayhunter6That's precisely why I trust and value the guidance of Mr. J. Clark in all my endeavors.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Even the landlords who don’t use RealPage will raise their rents because everyone else is. My rent was raised by 40%! The landlord said “current market value for the neighborhood “. How does he know what everyone else is paying? Scott, if news homes get built, it will only be luxury housing for max profit. Like the car market now. Product at high prices for the well off.
This is what happens when you are in a sellers' market. If your landlord had to fight to keep you renting from him, he would not have raised your rent as much. As always, the solution is to build more homes!
Yes, it's not just the firms market share, it's their ability to define the base rent that influences everyone else. It's also a feedback loop. The data says to raise rent. Others also raise rents, which tell the algorithm to raise rents again....
yup, even if they "only" control 12% of the market, that 12% when priced really high shifts the overall average up, this then fuels yet more increases as it adds "justification" for rent increases
You’re right….where I live they tear down older duplexes right near me that were perfectly fine then build expensive ones twice the size. 3 have gone up within 300 feet of me. These big corporations aren’t building / they are buying lots of property in order to monopolize….and screw people.
hey Scott... when lesbians date, who pays?
As a former landlord, I found the market controlled the rent. I could not increase rents in 2004-2007, because anyone with a heartbeat could get a home loan. My availability of good quality tenants dropped to near zero. My properties were worth more for sale than for rent. In 2009 buying homes were cheap and rents were cheap. By 2018 rents were up 45% over 2009. Still I could only charge what the market agreed to pay. We are short 4 million single family homes. Until we fix that problem homes will cost more and more people are going to retire overseas. Cites don’t like “affordable housing,” because it has a lower tax base and requires more city services like fire, police and EMS. We need more homes in the 1400 to 1700 square foot sizes for starter homes. But why build affordable housing when you can clean up on big houses with big price tags. The population is growing and immigration is not slowing down.
Good point. No builder is going to build a 1600-2000 square foot house where I live. 20 years ago I saw all the Mac-mansions going up in my neighborhood in Dallas…a cool one…homes that where ugly / not custom / trying to look fancy and probably with mediocre materials. Max square footage for max profit. The question I have is who is buying these expensive looking duplexes going up now
Bogota is not warm. Possibly warmer than Glasgow, but as far as Colombia, Scott picked the coldest city in the country. It is beautiful and green, and magical.
Put the ad after we see if ed liked scotts opening joke.
Absolutely loved that last video with Ian Bremmer.
Strong agree. More often with Ian please 🙏
Absolutly not, ian is only selling a globalist view, its dead
he's been on the Pod before@@PaulLembo
Corporate profit and stock prices should not be tied to rents - shelter being a basic human right, but they should pivot to highly incentivize investors and builders with tax breaks and interest rate discounts to increase builds
Someone is coming across as particularly tone deaf... Housing should not be an asset class. The financialization of everything is used to justify the exploitation of every human who needs shelter--hint, hint, that is every human. I agree with Ed, nuance only matters when the discussion has a solid foundation. Scott's analogy of arguing with a girlfriend as equivalent to arguing the case for multinational corporations is condescending and a false equivalency: a relationship is grounded in the premise that both parties feel seen and recognize shared values. This is not at all the case with corporate investment funds; these corporate landlord's care only for shareholder wealth--the same as healthcare executives. Talk about a lack of nuance, Scott, treating Ed's argument in the most reductive way possible.
Wow. Brilliant take down. As much as I like many things Scott says - he is wealthy and at times show a lack of regard for humanity.
First, I am a huge of the Pod and both of you. Ed, Ed, Ed. Your comments about Greenland! OMG. Like Scott, I am regularly impressed by how someone your age is so competent, articulate, smart, talented, etc. Your Greenland commebnts betrayed a shocking negative in terms of international law and politics that I expected any Princeton graduate to know. Scotts retort about buying Saudio Arabia was spot on. Dude, "the people of Greenland" are about 60,000. They are part of Denmark, 6 million. They do not get to secede from Denmark the same way Princeton cannot secede from NJ. Or Texas from USA. Also, Greenland is the over 4x the size of California. There is a deal to be had...really? Heavens help us if someone of your smarts thinks there is a deal to be had. Again, love the pod.
“The market is just as clueless as you are” - I feel seen
I live in Santa Monica. Every single open lot has a large apartment building going up from downtown east. What are you talking about?
True. Large sections of old downtown are being razed for cookie-cutter highrises.
Santa Monica is not representative of the entire U.S. housing market. The housing market is many, many local markets with varieties of problems.
Supply and demand is not a "nuance." It's THE market. We need more houses! Scott is spot on.
Jesus, we’re putting the ads in before we even get started now?
Daddy needs Zuck’s watch
Lol, more assault rifles and Chic-fil-A...humor and insight in these podcasts are fabulous. Thank you.
Although I'm far more conservative then Prof G, and consider him to be an old Jacobin, i love watching him for his great sense of humor. He's so quick and real.
No, you don't fix the housing crisis by subsidising houses. Assuming that average landowners are wealthier than average tax payers or average government spending recipients, that would surely be a transfer of purchasing power to landowners from tax payers/receivers.
Although, your implication is right... that house builders build more when land prices are rising and a subsidy would help them rise, but that's really not the answer. The answer is to take money out of land, not put it in. Raise taxes on land and you can lower them on wages, transferring wealth to non-landowners.
For land taxes, economic theory suggests that the economic incidence falls almost entirely on the landowner not the renter or buyer of land.
Recently spent 4-days in Santa Monica.... There is no open space there for building new housing/Apt. units so poor example by Scott.
Well over a decade ago builders stopped building first time buyer tier homes to focus on more profitable options of second/third time buyers well into their careers. Lowering the first time buyer stock has created a huge demand problem for the graduating generations. Then, in 2018-19... Bidding wars began with people spending 50-150k over asking. Rates were around 3% which overinflated homes massively and banks were approving loans for 450K on homes previously valued at 250k. Covid hits and the rates plummet to 2.25% and a secondary explosion in inflation of housing plus refinancing. Fast forward 4 years and all property taxes are rising due to the housing market being overinflated, no one wants to move because you'd have to downsize based on the current interest rates lowering the stock even more and because housing is a pretty stable asset (without fraud like 2008) prices have stayed high. Powell should have raised interest rates in 2018-19 after the tax cuts of 2017 when the market were running hot to stabilize the low supply but because he didn't and the added low covid rates we're stuck with 7% for the foreseeable future coupled with still low supply, plus people stuck in old rates plus still no reason for builders to build first time tier homes. That's been our market from 2010-2025.
Part of the housing needs to be regulated in the front end. Cheap, modest multifamily housing needs to be financed publicly with very low tax rates. Luxury and vacation rentals are completely private with high property tax and carrying costs...we have over 15 million vacant units... So we should look at taxing unreasonable vacancies or removing tax advantages for " losses," in vacancy.
I work with stock images regularly and Getty is a monster. They've been destroying the competition for twenty years (maybe longer). The alternatives are hit or miss but we try. AI TRULY does not do a great job of replacing real photographs.
I too deal with stock images and though my Getty reps are very nice, the organization is TOO big to manage all of their holdings. Only a fraction of what they own is searchable, and the point of keeping images is not just to generate new ones through. It's also very much to make the old/ historical ones accessible. Image research and selection are also very much a creative activity. Most people don't understand it at all.
I must say that laser job was great...Scott looks significantly better😅
He really does!!! Look, those wrinkles are gone?! He looks MAYBE only 15 years older than Eddie now!?
But none of the girls I've ever known (who I've shown this to) thought Scott was bad looking
Don't forget that once an investment firm buys a house, they never put it on the market again. Thereby the supply of available housing has less to do about building more than breaking up monopolies that keep houses off the market.
Institutional landlords can take advantage of economies of scale and the information asymmetry Scott mentioned to get bigger and bigger with retained earnings. And 12% may not seem like a lot, but when there is already a housing shortage due to underproduction since 2008, 1 in 8 units is very important.
I work in property management. Apartment buildings are blindingly expensive to run. Be a good tenant that is clean, quite and pays on time. The manager will give you so many breaks and discounts. Because good tenants make our lives so much easier.
Not if it’s corporate run. They don’t know you personally and can charge more if you leave. I am a tenant and have lived at small and corporate apartments, I’ve experienced the difference. Turnover is built into their profit model.
Corporate don't give a f about what you are good or not.
Breaks and discounts like what? If you’re paying on time then it’s not a break and it’s not a discount. You’re telling me that you lower someone’s rent year after year? You probably think giving someone their full security deposit back is a “break” while the tenant puts the same amount in coins to your laundry machine
lmao this just isn’t true for most people.
i had to take my landlord to small claims court because he didn’t pay me back for prorated rent after he charged my the full month on my final month.
i lived there for 2 years. paid rent early every month. kept everything super clean and even did some of my own repairs because the maintenance guy was busy.
some people are just shitty.
WhAt? Original comment directed.
Is he a middleman apartment flipper?
Out of curiosity, which colombian team are you investing in? I’m from Colombia and it would be interesting knowing 😅
I would have pick Cartagena
26:56 2 things about the rent price-fixing: a) the clustering of the rental units matters more than the volume total. They can commit the crime if they've cornered a region, for eg, but it's less so when spread out evenly. B) building affordable housing is more valuable than building a new bridge. Meet carbon targets with shorter commutes, boost economy by more discretionary income, quality jobs, supply minimizes the alleged crimes. Don't forget ai is just a spreadsheet in this cas. It's not ai its just tables of data, this is happening in every industry in the country. That's how companies make business plans, with pricing algorithms. It's absurd to call it price fixing unless they're also responsible for the shortage in inventories.
Correction: Roman Gabriel was of Filipino ethnicity, hailing from North Carolina. I remember him once being described as "the largest Filipino in the world" by a color commentator.
Loved RG as a kid. Great QB presence.
I’ve developed housing in nyc for nearly 30 years. It’s never been harder to build housing in this city. It’s a supply side problem.
We allocated $60B to Ukraine and get nothing out of it, we could allocate $60B to buying Greenland and I'm guessing they might be a LOT happier about becoming a US territory (that's about $1M per Greenlander). The US would be FAR better off if we could convince Greenland to join us as a territory (or even as a state, presuming they wanted that). It would be a huge win for the US and even at a huge expense, it would definitely be worth it.
I don't think you can just look at "hey they only hold 12%, so it's not enough to control the market" - but if their ownership is concentrated in specific markets, that region could have a much higher impact.
What if we said, "we'll give every person in Greenland a million dollars a year for the next 10 years"? That's $60 billion a year for the next 10 years, which would be a fraction of the military budget.
Trump must wish that he had gotten into politics years ago what with the money he's making now. Also, if Greenlanders want to align with a higher power, why not with Canada?
I dinnobeing part of denmark. Free health care and college, Eu citezenship, part if NATO... And complete domestic autonomy. They're in good shape
Us flagged vessels make up 0.57% of all cargo shipping due to high insurance prices. Many are registered in Panama to avoid high insurance and labor laws so i don't see the need for the canal to avoid the high toll prices.
Scott comedically on fire today
Great comment Scott regarding Trump's comment on Greenland and the Panama Canal. I have been saying on social media that Trump's comments are absolutely stupid. The US already has a military base on Greenland.
Plus Scott has forgotten Obama did tell Trump to shut his mouth at the same stage in 2016/17 when Trump was mouthing off.
9:30 - quantum…Only national security concerns would be true motivator for pushing quantum computing over the finish line. These technologies will likely require the same urgent, mission focused efforts seen in military led projects of the past.
Progress could remain sluggish & stuck in the realm of academic research and small scale experiments.
timestamp from 20:00 to first break... LMAO
In the case where you try to solve the supply side issues and there are more homes being built, I don't see what would prevent these same firms from snatching them up with 20% over asking price offers and just expanding their offerings, still keeping them at premium "market will bear" rates and/or vacant while waiting for those higher rents. Without any guardrail, how do we prevent the current trend perpetuating and those speculative real estate firms just growing bigger?
the young fellow always has a righteous fury in defense of the poor and working class. when scott galloway, whom i respect, was talking about just move if you want to avoid taxes, ed rightly pointed out but what is the end game? if every country in the world is in a race towards 0 taxes then what country will have a functioning government not dominated by the extremely wealthy? and in the case of rent and rent algorithm he is correct, the government should GOVERN against the so-called free market because eventually people will get so mad that the pitchforks will come out
Property prices and rent are the most difficult issue in the UK & Europe too. It's literally breaking every society.
But at least in Europe (ex UK), landlords cannot raise rent like 30% from one month to another. I can speak for Germany as it's in the law i.e. rent raises are capped. But still, the problem exists but not to the same degree as in the USA.
11:20 but that’s exactly why I bought in because at 10 bucks it seemed like it was pretty fair. And even I’m getting wrecked. Feels oversold even with the truth lens.
Can’t wait for AI Prof G show 😅
Perplexity is even better than Chat GPT and Anthropic imo
I'm with you, Ed - there needn't be any nuance when you decide to flip the monopoly board over. Allowing massively rich corporations to game housing to maximize while you can't drive down a street in any city without seeing skid rows and tent cities for the sake of maintaining "capitalist values" is as inhumane as it gets.
"The Panama Canal is a small business, it doesn't matter" - Scott Galloway... Do you hear yourself?
Yeah I can hear Sal Mercogliano over on the YT Channel "What's Goign on with Shipping?" b*tch slapping Scott over that dumb remark.
But then Scott is kinda right these are nonsense claims about Greenland and the Panama Canal. What Scott has also forgotten is Obama did tell Trump to shut his mouth at the same stage in 2016/17 when Trump was mouthing off.
With FTX success, will you also be buying up distressed properties from LA fires?
I'm not sure but I believe there's millions of vacant homes in America? Maybe 30K+ in Cleveland alone? If true that would mean a lack of homes in prime locations but not a lack of homes in and of themselves? Just a thought. Love the show.
Thank you for making me laugh out loud.
There are many cheap places to live in US, but no one wants to live there. The problem is the density is not high enough where people want to live. That is due to people living there putting in zoning restrictions, because it benefits them when prices go up.
As a former rower, why would you bring your watch on the river?
Also did you scull or sweep?
Make more homes and make it easier for more institutions to buy more homes and screw things up more. Their greed is insatiable!!
ALBERTSONS AND KROGER WOULD ELIMINATE 5 OUT OF 6 GROCERY STORES IN MY IMMEDIATE NEIGHBORHOOD AND 170 GROCERY STORES IN WA STATE AFTER THE MERGER. THEY SUBMITTED THE LIST OF STORES IT WOULD SHUTTER TO TRY AND AVOID THE BLOCKING. Get informed on this one. What the heck would we do with one and only one grocery store in a large city. The replacements would be small grocery stores years from now with higher prices.
Investing in Bogotá, especially in fútbol, sounds like an exciting venture! While it may not be the most lucrative investment, it certainly has the potential to be quite enjoyable. It would be fantastic if this inspires further ventures, perhaps in tourism, to continue supporting growth in our beautiful Colombia. Welcome, and best of luck amigo!
Misunderstanding the fundamental flaws in GenAI, Scott overestimates how soon some things will get “better”
in Red Storm Rising, Iceland was the island that was of strategic importance. Stornoway, in Scotland, is where the F-14 fleet resided after the chapter Dance of The Dragons. There is no mention of Thule in Greenland.
Quit it. Trump's still dumb as fuck.
How would there be any undeveloped land in Santa Monica?? Unless you tear down a house, there would be no where to build.
The housing market is a series of local problems; and it's impacting people up and down the economic ladder. Rent increases are killing the poor. It's a different issue in different regions but all together it is market failure: the supply cannot meet the demand. One of government's prime duties is to maintain the market. Plus--you know--people gotta live somewhere.
Institutional capital EXITING the market makes it cheaper.
A scorecard (of deals) is the amazing idea of the day. Many orgs are busily cataloging various promises he's made, deals he's discussing and other bits and pieces we've heard to keep failures in full view. Bingo card(s), perhaps?
you both crack me up! 🤣
ALSO, someone needs to research how many actual brands are left in a grocery store. I'd guess 80% of the product categories have a store brand with about 30% of the store no longer has a name brand because they have been run out of business due to store brands using their monopoly to kill them off. Just like Amazon uses 3rd party sellers.
Landlords are leaving lots and lots of apartments un-ready to rent. providing small maintenance staffs saying apartments are not ready.
supply and demand.
Step 1. Make Greenland independent.
Step 2. Offer to pay each of the 58,000 citizens of Greenland a two million dollar (tax free) payment if they vote in favor of joining the US.
Love Claude.
Scott looks like 100 years old to be honest LOL
You should buy an NWSL team. The women's game is growing.
It is simple cartel behavior mediated by cloud capital. If it is bad for the government to set prices why wouldn't it be equal bad if private firms agree to set prices in this centralized manner?
I wish Prof G was not infected with TDS.
Denmark has already told Trump that the US can increase the size of its military base in Greenland if it wants to.
As a fellow Big Brother Joey, stop hitting your brothers and sisters, America.
The people in Greenland get Danish education and healthcare would they readily give that up?
If real estate doesn't offer above-average returns (due to an oligopoly?) why is private equity piling in?
44:00 If Trump wants to expand statehood, start with the Virgin Islands, DC, and Puerto Rico
What team in Bogota? Millos or Santa Fe?
Make those companies build new apartments and houses instead of being able to buy existing ones that would add units and availability.
When is Peter Zeihan coming on???
+1,000
Peter Zeihan has a great take on global trade, the Ukraine war, and the future of China. His daily video is the first thing I watch every day.
No thanks
out with the corporate "analytical" price fixing
Prof G: can you donan updated show on Stable Coin (Base) versus Cryptocurrencies?
Jesus Scott. That’s a lot of money and work man.
But to the meat, thank you again for being a badass.
Ed you want rule by man because you don't like the markets response to reality, reality is permits are slow, expensive and rare. Scott in spite of being to the left of real free markets in his head, is totally right on this,. TRhe problem is there is no free market in housing, the governments especially at the most local level have screwed it up. Just an Architectural engineer here who deals with this all the time.
A Timex will do nicely.
There are tens of hundreds of lots available in Santa Monica now
That's inappropriate. Good guys don't make lite of the misfortunes of others.
Did you know the patek aquanaut comes in a brilliant rainbow variety? It's actually gorgeous if you were a pimp or rock star or something lol
Great video Scott!!
Zuck says he eats guys like Galloway for lunch. Zuck don’t play!
Any thoughts on LA fires?
In Cartagena now, and it's awesome! We'll be in Bogota in a couple of weeks, after Medellin. We live in DC and being in Colombia for the month of Jan to escape SAD.
I appreciate Scott's perspective on so much then when he's so dismissive of Trump, I lose a lot of respect. Scott should talk about his dealmaking prowess and how he would approach the Greenland situation rather than all the emotional hand-waving which comes off as a jealous man who is less rich than Trump and then goes on to talk about him buying soccer teams in third world countries, which is exactly the same "rich kid" stuff that he critize Trump for doing. Scott needs to look in the mirror here as he's designed an anti-Trump echo-chamber which is a bad look. Trump is and wiill go down as the best President America has had in perhaps a century.
Notice how Prof Scott says "I think" & Mr. Ed says "I feel"? I wonder if that generational or cultural?
Your finance professor stole that quote from Peter Lynch
New Rule:
if institutions own 100 units, they're required to build 100 units...of equal sq footage...
Scott buying La Equidad with Ryan Reynolds??
Renting is 20% cheaper than owning.
39:16 cmon bro the us would flatten Europe
19:54 👍
Ad after the first joke is off putting. I would put it later after the initial banter.
yeah get it, rent control leads to no building... so what's your point? NON rent control has led to the same thing.
Re Panama, Greenland, & gulf of America, I'm disappointed that they fall for the distraction trap. Trump 101 is say something outlandish over here so you you're not paying attention to something over there (i.e., appointments, etc.). Please be better than linear TV.
Scott you’re normally so much more nuanced but in this case you’re repeating a lie about “using force to annex.” None of that was what he said when bullied into a corner to rule out military use entirely. He was asked if he would forever rule out the idea of military action to secure the canal at any point in the future. To think in a conflict with another great power that we would allow the Panama Canal to be locked out to use by our Naval interests and that we wouldn’t take steps to insure that if any other great power attempted it is ridiculous. No president would commit to that and you’re repeating a narrative lie.
Commenting with such a long clarification to a ridiculous notion is very silly lol
Yes. The main point it's that it's a ridiculous, stupid, uninformed idea...it's more if s sign of Trump's mental decline than a serious policy proposal. As are many of Trump's ideas.... Child, matches and cases of Kerosene... Yup.