Brandon Ferrera

[𝐏𝐮𝐫𝐩𝑮𝒐𝒍𝒅 🏆 @PurpGoldLakers]

The Walter-era front office overhaul keeps ROLLING. The Lakers just named Elaine Shen as their new CFO.

🔸 Joined the Lakers in 2016
🔸 Previously served as associate CFO
🔸 Pre-Lakers: Aon and Wachovia Bank
🔸 University of Pennsylvania undergrad
🔸 UCLA Anderson MBA
🔸 Will oversee all financial aspects of the franchise

"Elaine is a trusted advisor and the perfect modern CFO to help lead the next stage of transformation for the Los Angeles Lakers."

https://t.co/tVKBrWVfkp

[Brandon Ferrera @BrandonFerrera]

@LieutenantRusty @skylarromines

[Barrett Linburg @DallasAptGP]

GOV: We have a housing crisis. Prices are too high.

ME: I agree. Supply is too low.

GOV: So we have a plan. We’re going to subsidize demand.

ME: …What does that mean?

GOV: We’re going to give people money to buy houses.

ME: But there aren't enough houses.

GOV: Right. So we’ll help them bid harder.

ME: If you have 10 people fighting for 1 house, and you give them all cash... the price just goes up.

GOV: Then we’ll give them more cash.

ME: That’s not a solution. That’s inflation.

GOV: It’s "First Time Homebuyer Assistance."

ME: Okay, let’s back up. Why are houses so expensive in the first place?

GOV: Because we made them the perfect investment vehicle.

ME: How?

GOV: First, the 30-year fixed mortgage.

ME: That’s standard, right?

GOV: Only in America. In other countries, rates float. Here, you can lock in a low rate for three decades.

ME: Why would a bank take that risk? If inflation goes up, they lose money.

GOV: Banks don’t take the risk. They sell the loan to us.

ME: To the government?

GOV: To Fannie Mae and Freddie Mac. We guarantee the liquidity.

ME: So the taxpayer subsidizes the risk so I can have cheap leverage?

GOV: Correct.

ME: And then I get to deduct the interest?

GOV: Only on the first $750,000 of debt.

ME: That seems... high.

GOV: It used to be a million. We trimmed it.

ME: But wait. If I rent, can I deduct my rent?

GOV: No.

ME: If I buy a small business, can I deduct the interest on the loan?

GOV: It’s complicated.

ME: But if I buy a giant house, I definitely can?

GOV: Absolutely. We wrote it into the tax code.

ME: So you’re paying me to borrow money to buy a bigger house than I need.

GOV: We’re "incentivizing ownership."

ME: What happens when I sell?

GOV: The Capital Gains Exclusion!

ME: How does that work?

GOV: If you sell a stock for a $500,000 profit, you pay taxes.

ME: Roughly 20%.

GOV: If you sell your house for a $500,000 profit?

ME: What do I pay?

GOV: Zero.

ME: Zero tax?

GOV: As long as you lived there for two years.

ME: So housing is the only asset class where I get subsidized 30-year leverage and tax-free profits?

GOV: Pretty sweet deal, right?

ME: So you turned shelter into a speculative financial asset.

GOV: We call it "Generational Wealth."

ME: Okay, so demand is juiced to the moon. Can we at least build more supply to bring prices down?

GOV: Oh, absolutely not.

ME: Why?

GOV: Zoning.

ME: I own land. Can I build a duplex?

GOV: Illegal. Single-family only.

ME: Can I build a granny flat?

GOV: Only if you provide two parking spots and pass a shadow study.

ME: So you made it illegal to build cheaper housing?

GOV: We protect "Neighborhood Character."

ME: But you spend billions on roads and utilities for the suburbs.

GOV: Infrastructure investment.

ME: So you subsidize the expensive sprawl, but ban the cheap density?

GOV: Now you’re getting it.

ME: This system seems designed to keep prices high.

GOV: It is.

ME: But you started this conversation by saying we have an "Affordability Crisis."

GOV: We do. Prices are too high!

ME: So we should lower them?

GOV: No! We can’t lower prices.

ME: Why not?

GOV: Because then the voters lose their "Generational Wealth."

ME: So we need high prices for the voters... and low prices for the buyers?

GOV: Exactly.

ME: That’s a paradox.

GOV: It’s politics.

ME: So what is your actual plan?

GOV: We’re going to give first-time buyers $25,000.

ME: Okay. I’m a seller. I list my house for $400,000.

GOV: Uh huh.

ME: I know every buyer just got a free $25,000 from the government.

GOV: Right.

ME: What do I do?

GOV: You... keep the price the same?

ME: I raise the price to $425,000.

GOV: You wouldn't.

ME: I absolutely would. The buyer can afford it now.

GOV: But that just transfers the subsidy from the poor buyer to the rich seller!

ME: Econ 101.

GOV: We don’t think that will happen.

ME: Just like you didn’t think $7,500 EV credits would make Ford raise the price of the F-150 Lightning by exactly $7,500?

GOV: That was a coincidence.

ME: You are trapping us in a box.

GOV: It’s not a box.

ME: What is it?

GOV: It’s a Single Family Home with a 2.5% mortgage rate that you can never afford to sell.

ME: ...

GOV: Welcome to the American Dream.

[💜Music is Love💜 @Hoainguyen888]

The closing of the live version of "Sultans of Swing" is one of the most memorable moments in Dire Straits' history.

Recorded on "A Night in London" (1996), this performance features an instrumental ending of about three minutes that does not appear on the studio recording, and that's precisely where the magic happens.

[Boring_Business @BoringBiz_]

Monthly reminder

[Brandon Ferrera @BrandonFerrera]

@gravybot33 @VladTheInflator January 2025. After Trump took office.

[Brandon Ferrera @BrandonFerrera]

@skylarromines

[Flea @flea333]

Los Angeles is the best city in the United States. All the other cities are worse.

[Brandon Ferrera @BrandonFerrera]

@LakersNation Magic

[Brandon Ferrera @BrandonFerrera]

@VladTheInflator ❤️❤️ entire comments section.

[Brandon Ferrera @BrandonFerrera]

@HighyieldHarry Andor

[Brandon Ferrera @BrandonFerrera]

@RagingVentures @RagingVentures see news on Jack in the Box closing 150 stores.

[Brandon Ferrera @BrandonFerrera]

@realEstateTrent Get a nanny who helps prepare and stays through dinner clean up.

[Brandon Ferrera @BrandonFerrera]

@MeBazerk @Unicornswilly Flag on the play. 15 yards for unnecessary horniness.

[Brandon Ferrera @BrandonFerrera]

@DearS_o_n Accept it will take time.

[Brandon Ferrera @BrandonFerrera]

@Invested_In_You Does your analysis tax affect the interest on the mortgage?

[Brandon Ferrera @BrandonFerrera]

@champagnennuts @RadioFreeTom

[Brandon Ferrera @BrandonFerrera]

@HeroDividend Avocados

[Brandon Ferrera @BrandonFerrera]

@ClaireMPLS JHS better develop!

[Brandon Ferrera @BrandonFerrera]

@ClaireMPLS Athleticism!