The Stock Market Is Not The Economy Thread II

[archibaldcrane]

u know what city im in fella. santa barbara

Didn't know if it was sb proper or summerland, goleta, whatever

[thetruepandagod]

ouch. i didn't know you took me for a peasant

[archibaldcrane]

https://twitter.com/byHeatherLong/st...ol6T1pgyg&s=19

https://twitter.com/stevebenen/statu...Z63LnLWcQ&s=19

[6souls]

ouch. i didn't know you took me for a peasant

In the hills or closer to the shore?

[archibaldcrane]

Interesting chart on which sectors have lost and gained jobs since before the pandemic.

https://twitter.com/MarcGoldwein/sta...nMhkh9f_Q&s=19

[Jaybar]

Professional and business checking in. We have stopped hiring though since clients can't secure construction loans anymore. I expect a huge plunge in construction related jobs/markets once this current wave wraps up and no new work is being done (without huge help from federal/local subsidies and tax incentives).

[Mertron]

promotion at a government job checking in

[thetruepandagod]

In the hills or closer to the shore?

closer to shore than hills, but less close to beach than me and AG used to be

[6souls]

closer to shore than hills, but less close to beach than me and AG used to be

I have family in the hills, that's why I ask.

[archibaldcrane]

Very interesting thread. Not sure I buy the explanation but the data is very strange.

https://twitter.com/quantian1/status...3F3V9PZuQ&s=19

[Byrthnoth]

Economists making decisive statements is peak lol

[archibaldcrane]

https://twitter.com/bencasselman/sta...juLWMHP4g&s=19

https://twitter.com/mtkonczal/status...J5KwHH0Pw&s=19

[archibaldcrane]

Either the Atlanta Fed's GDPNow is going to have a huge miss or we're booming boys

https://twitter.com/mattyglesias/sta...oao7f0ZAA&s=19

[zoobernut]

Either the Atlanta Fed's GDPNow is going to have a huge miss or we're booming boys

https://twitter.com/mattyglesias/sta...oao7f0ZAA&s=19

It still feels pretty shitty to be booming but have the housing market so fundamentally and deeply broken.

[archibaldcrane]

It still feels pretty shitty to be booming but have the housing market so fundamentally and deeply broken.

Just gotta keep chipping away at the things that broke the market.

Related: "Environmental" non-profits - not even once

https://twitter.com/louismirante/sta...wZdNimvoA&s=19

[Spicyryan]

Just gotta keep chipping away at the things that broke the market.

Related: "Environmental" non-profits - not even once

https://twitter.com/louismirante/sta...wZdNimvoA&s=19

Well, treating houses like a commodity "breaks" the market.

[archibaldcrane]

Makes the market, actually

It's the restriction against creating more homes that is breaking the market - makes for an inelastic supply response to rising demand, which then shows up in overcrowding, rent burdens and homelessness.

[Spicyryan]

Makes the market, actually

It's the restriction against creating more homes that is breaking the market - makes for an inelastic supply response to rising demand, which then shows up in overcrowding, rent burdens and homelessness.

It's unfortunate that you don't see the contradictions in there. The most plain among them being that when housing is commodified it causes homelessness. Also glaring is the fact that the housing becomes inelastic as a commodity because it is profitable to do so. Similar to how larger houses are more profitable than building smaller ones and less affordable on average for it. Otherwise, it would "harm the value of the investment" if housing were more readily available. It's not some lack of will or just so easy to blame demand or zoning regulations. Those are lazy excuses to mask the problems caused by the system itself.

[archibaldcrane]

Making apartments illegal on the vast majority of residential zoned land in most cities is the primary supply constraint.

[Spicyryan]

Making apartments illegal on the vast majority of residential zoned land in most cities is the primary supply constraint.

You guys have a real knack for taking a general symptom of the system and thinking it just needs to be fixed. Like someone left a light on in a room by accident and one day we will get it right.