Minnesota Legislature’s Anti Corporate Landlord Bill

For a couple of years now, I’ve been warning that one consequence of the broken housing market will be politics and that the first domino to fall will be the so-called “corporate landlords.” I based that on things that people like Elizabeth Warren were saying in Senate hearings. I know that a number of cities … Read more

Quick Add-On Thoughts on Banking, Politics, and Real Estate

Yesterday, I wrote my first post in a while about the bank failures, government response, and the implications for real estate. In it, I wrote: Now, every depositor at every bank in the United States is guaranteed by the FDIC and that $250K limit simply does not exist in practice. So if you’re Roku, and … Read more

What If Housing Affordability Is Not About Supply and Demand?

I’ve been thinking about this topic for a few years now, but felt motivated to write on it after reading Ryan Gorman’s Medium post announcing what he’s working on now with btcRE. Gorman as the former CEO of Coldwell Banker understands real estate better than most people, and yet… there was something I felt was … Read more

The Seven Most Interesting People in Real Estate in 2022

Welcome to another installment of an annual tradition around here: the Seven Most Interesting People in Real Estate in 2022. I look forward to this post, as well as my Seven Predictions post, each year. As in earlier years, let me reiterate that Inman does the Influencers list, Swanepoel does the Power 200 list (I help out on … Read more

On Opendoor’s Settlement with the FTC

It appears that Opendoor has preemptively caved in to the Federal Trade Commission, agreeing to a consent order. As is usually the case, the Complaint was filed along with the Consent Order agreement earlier today. I initially thought, “Oh wow, this is bad for Opendoor.” Then I read the Complaint and the Consent Order, and … Read more

Please Don’t Help Me, Government

One of my favorite economic and finance analysts is a green chicken. Yes, I’m referring to Doomberg, a team with strong backgrounds in energy and heavy industry, who started writing in May of 2021. They’re funny, super insightful, and filled with insider knowledge about commodities, energy, manufacturing, and finance. Their newsletter was free until recently, … Read more

Four Horsemen of the Housing Apocalypse, Part 5: What It All Might Mean

At last, we come to the end of this dismal series. While it has been dismal, some of your emails and private messages have been very kind and encouraging. Dark these thoughts may be, but some of you share them and there is a comfort in knowing we’re not alone. (Update: but see below in … Read more

Four Horsemen of the Housing Apocalypse, Part 4: On a Pale Horse – Political Turmoil

And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see. And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, … Read more

Four Horsemen of the Housing Apocalypse, Part 1: On a White Horse

Apocalypse by Victor Vasnetsov

I haven’t written in a while. Part of it is being extremely busy with work, which I hope to be able to tell you all about soon, but a big part of the reason is dread. I keep looking for white pill stories, visions of a bright future, or at least some kind of a … Read more