@KevRGordon 100% of that statistic is bullshit.
3.5% DP on the median home is $15k.
The median DP of 8% is $34k.
That’s not 70% of the median household income.
@aremuhknee@LaterWendy Most Flex closings book at a loss or, at best, with a low single-digit profit margin. Flex COS has reached inelasticity in ~85% of markets.
@MorningBrew Typical 1985 home: ~1500sq ft, 3 bed 1 bath, detached garage, no central A/C
The typical 1985 home goes for 3.5X income in most cities today. This 1985 home has no demand and has been regulated out of supply ☝️
@sunny051488 Bet everything on this! It’s foolproof! No big brains have ever squandered billions trying this.
They probably just needed more AI and BTC.
@gregisenberg Business risks capital. This isn’t isolated to Stripe or CC’s— deadbeats exploited businesses with checks for decades. More businesses are moving to stable coins for reasons of finality.
@mikesimonsen Q1 cash purchases dropped to lowest level, by total units, in a decade. Yet cash sales as a % of total sales remain higher than pre-pandemic levels.