I went to Dartmouth. It costs roughly $60,000 a year all in. I now build homes for a living. They cost roughly $350,000 to build.
Both of these numbers are completely insane. And they are insane for the exact same reason.
The moment the government guarantees a loan, the seller stops caring what the buyer can actually afford. College tuition exploded after the federal government started backing student loans with no underwriting and no discharge in bankruptcy. Home prices exploded after Fannie Mae and Freddie Mac started buying mortgages and removing risk from lenders.
When a bank knows it will get paid no matter what, it will lend to anyone. When the bank will lend to anyone, the seller raises the price. When the seller raises the price, the buyer just borrows more. Nobody feels the pain until the bill comes due 10 or 30 years later.
Colleges added $200 million rec centers and hired thousands of administrators because students were writing checks with money that didn't feel real. Home sellers listed at $500k because they knew the bank would approve it regardless of whether the buyer could sustain the payment.
I benefited from both systems. My Dartmouth degree opened doors. The homes I build get financed by these same banks. I am not pretending to be above it.
But I look at both industries from the inside and tell you they run on the same engine. A guaranteed loan that disconnects the buyer from the real cost of what they are purchasing. The university and the mortgage lender have the same business model. They are financing tools that happen to have a campus or a front door.
If the government removed the guarantee from the student loans tomorrow, tuition would drop 40% within five years. If Fannie and Freddie disappeared, home prices would correct in the same direction. The prices are essentially fake. They are a reflection of how much debt a bank is willing to issue, not how much the product is intrinsically worth.
I say this as someone who went to an expensive school and builds homes. Both systems are broken in the exact same way and nobody talks about it because too many people profit from the status quo.
They say a picture is worth a thousand words, but moments like this leave you speechless.
Don’t let your biggest moments get lost in a blurry phone shot. Let our team document the action from hook-up to release.
#casaviejalodge#guatemala#fishinglodge#sailfishing#sailfish
The UK and USA are both amazing countries.
The crazy thing is, they could be SO much better if their governments stopped doing stupid stuff at scale.
I wonder what these countries would look like if most of the political leaders were genuinely on the side of their citizens.
The flooding in Kentucky is really bad.
Really, really bad.
A state of emergency has been declared and 4 people have already lost their lives. Water rescues are currently ongoing.
Gives me flashbacks to Hurricane Helene.
Please pray for these people, this is so scary.
The Montreal Police Service has announced the tragic death of Officer Benredouane while carrying out his duty to protect the public. The incident occurred today during an intervention in the Côte-des-Neiges (CDN) sector.
Today, on my final day as Director of National Intelligence, I’m releasing never-before-seen communications and documents exposing how Dr. Fauci provided millions in US taxpayer dollars to fund dangerous gain-of-function research at the Wuhan lab, worked with politicized elements within the Intelligence Community to suppress the truth about his actions and hide the virus’ lab-leak origins, and lied to Congress while under oath in 2024. It’s time you know the truth.
https://t.co/3YJSstB7d4
This is Richard Webb. He's my father-in-law. He served two tours in Vietnam as a Marine Recon Sniper. He received two purple hearts for his service along with countless other medals.
This photo is seven years ago...
Today, Richard spends most days not knowing what the hell is going on because he developed type 2 diabetes from agent orange in Vietnam.
My wife has been fighting the VA for over a year to get Richard the care and benefits he needs just to survive. The process is a joke. The service is a bigger joke.
The VA case managers are absolute dog shit and treat our nation's heroes like garbage. They also act as if they're doing our vets a FAVOR for the most basic of care.
@SecVetAffairs, I've been to your headquarters building in DC, and have first hand experience dealing with the incompetent staff.
This is hands down the most embarrassing department in all of the Trump administration. If the Boss knew how horrendously our veterans are still being treated after you've had eighteen months to fix these issues, you'd be fired tomorrow.
I waited a long time to write this, but at this point I've seen enough.
Awesome to see the entire USA team standing with their hand on their heart and singing the National Anthem before their first match of the World Cup. Let’s go @USMNT 💯🇺🇸💯🇺🇸
With profound sorrow & deep respect, we honor the life and legacy of Lawrence N. Brooks, who passed away at the remarkable age of 112. As the oldest living ‘American World War II Veteran’ at the time of his passing, represents one of the final living links to this generation.
82 years after D-Day, WWII veteran Arthur Rose returned to Normandy and read a letter he wrote to his family just days after the invasion.
As Allied forces prepared for the assault, Rose recalled the massive buildup taking place across the English Channel.
"Thousands of ships and landing craft of every description filled the harbor. Everyone worked day and night preparing fuel, provisions, ammunition and secret material."
As the operation drew closer, Rose recalled: "Then came the word: D-Day will be June 6th."
When the fleet finally sailed for France, "everyone expected bombing, submarines, battleships, and all hell to break loose at any moment."
Near the French coast, Rose remembered, "We could see flashes in the distance and hear the explosions continuously."
CSP remembers Trooper Russell Bagshaw, ambushed at an interrupted burglary on June 5, 1991, in Windham before he could even use his radio or exit his cruiser. Tpr Bagshaw had been a Trooper for 4 years prior to making the ultimate sacrifice.