Wall Street/Gov'mnt, Real Estate

[Swirls]

https://medium.com/@Hipstercrite/dear-p ... fdc639ce55

[MrSaigon]

Meanwhile some prick is going to use his AIG bonus to give up the rat race and buy another superfluous house, this time in SE Portland:

“With the $13-plus trillion we are estimated to ultimately spend on the bailouts, we could not only have bought and paid off every single sub-prime mortgage in the country (that would only have cost $1.4 trillion), we could have paid off every remaining mortgage of any kind in this country - and still have had enough money left over to buy a new house for every American who does not already have one.”
― Matt Taibbi, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

I'll figure out how this supports my hipster/trust fund baby narrative later.

This is interesting:
https://projects.propublica.org/bailout/

Where did Taibbi come up with the $13 trillion figure? As your link shows, that's way, way off.

This gets you close, but understand I'm going to be out of my depth in a hurry.
http://www.nytimes.com/interactive/2009 ... aphic.html

The PropPublica thing appears to be TARP only.

[MrSaigon]

Let me add to my poorly formed meanderings here with this: how many goddam words are there in real estate for 'tiny'?

[MrSaigon]

Rich California hipsters are not welcome here.


Hockey stick:

[Arthur Dent]

Pretty much the same story in Austin. We're also attempting to blame Californians.

[MrSaigon]

Austin was the first place with the Keep ---- Weird stickers. I'm sure it's a point of pride and angst wrt Portland co-opting the term. Which is to say rich hipsters looking for a place where people 'get it' and dropping cash above real estate asking prices should be your problem.

[Arthur Dent]

It definitely sucks, and I don't understand where all the people are coming from who can pay these prices. Median income in Austin is about the same as the nation average, ~$52k/yr. Rent is up almost 50% in the last five years too, so I guess the problem must be demand driven. Lots of population growth and not enough growth in the housing stock. Dunno about Portland, but in Austin, despite huge growth in the metro area, there has been essentially no growth in the core. NIMBYism is awful.

[stlouie_lipp]

I also blame the Californians.

[MrSaigon]

I just need to find a way to flatter these people until I'm a millionaire. 'Most people don't know the coffee they drink isn't organic, free range, fair trade, lesbian, co-op grown, cruelty free, with three kinds of hopps and Bernie Sanders and weasel [expletive] and stuff. But you, you get it. That's why you buy this.'

It will be Folgers. They'll taste the difference because of the price.

[MrSaigon]

While the bubble may not be on CA hipsters, entirely. I promise McDonald's selling Artisnal Sandwiches is.


McDonald's. Artisnal.