X @Nick Szabo

RT Max Anderson (@maxjanderson)To anyone who still thinks owning a home in the US is a good investment:Interest rates went straight down for 40yrs from 1980-2020, driving cap rates down and therefore real estate prices relentlessly upWhen we hit the 0 bound on interest rates, we proceeded to open our borders and let tens of millions of immigrants into the country, replacing the cap rate driven increase in home prices with population driven increaseAnd now we’re out of bulletsImmigration is done for the fore ...