I don’t see how this is anything but an economic disaster. We’ve given homeowners billions for doing literally nothing, while condemning future generations to astronomical debt or plummeting quality of life, while cementing housing as an investment asset
Stuart A. Thompson
2,151 posts
reporter at the @nytimes
- News! I'm joining the @nytimes newsroom as a disinformation reporter, where I'll be writing about misinformation and disinformation in all its forms. 🧵
- it's going to be a very exhausting cycle for disinformation as far-right influencers pull out all the old favorites – "pallets of bricks" and "Antifa" and "paid protesters" and "riots." videos posted years ago will get resurfaced. photos out of context. disinformation is incoming
- Laura Loomer, a far-right activist and conspiracy theorist, lost her race tonight for Florida's 11th District against incumbent Daniel Webster. her supporters aren't taking it well... at all.
- Replying to @stuartathompsonIf housing fell 20-30% it would be only described as one of the biggest economic disasters on record. But when we ask future generations to save up 20-30% more, or take on 20-30% more debt, or slash their quality of life expectations, it’s generally seen as a fine thing
- Q world is very excited about Elon buying Twitter. they think they will be unbanned and can reach normies again with their theories. Elon's latest tweet about sinks didn't help things because "let that sink in" is part of a Q drop
- ”There had been an accommodation reached where Zuckerberg said that he was going to continue this policy of not fact-checking and would take a light hand against conservative media and the Trump administration, in turn, would go easy on Facebook.” dworkinreport.com/2022/01/25/aut…
- Replying to @stuartathompsonI hope everyone is ready for a generation of this. "the only way my candidate can lose is because of voter fraud." after just a few years, this already feels like a permanent part of US elections, a POV shared by literally millions of very vocal and active Americans
- Replying to @stuartathompsonFrom an economist’s perspective: haven’t we just rewarded risk and leverage, and shifted wealth creation from productive labor to nonproductive debt? ie we’re telling workers, you don’t get ahead through work anymore, leverage yourself into multiple properties asap?
- Replying to @stuartathompsonOn the flip side, a home price drop of even 5% would be described as a crisis, w/ politicians/banks working to prevent a bigger fall. Homeowners would get mortgage deferrals, politicians would warn of “overbuilding.” Prices are resilient in part bc they’re aggressively protected
- Replying to @stuartathompsonFrom a social science perspective: haven’t we rapidly changed the fortunes for a generation of non-wealthy people in a very short amount of time? when we permanently unravel someone’s future, don’t we pay a gigantic political cost in the form of populism and extremism?
- i was Zillow Browsing like a good geriatric millennial and saw a house that got me genuinely excited for the first time in like six months. a bit of research revealed the water is not only undrinkable, but actually carcinogenic, due to unfixable leaks from the nearby garbage dump
- Replying to @stuartathompsonFrom a central bank perspective: haven’t we just spent $4 trillion and slashed rates to prevent workers from falling behind, while stoking massive asset bubbles that will find a median buyer falling behind by hundreds of thousands of dollars in some markets?









