Proletari-it girl | Buy a home with an interest rate as low as 3% with @rootshomes_
Vegas/SF
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The most overlooked part of the 2008 Great Financial Crisis was its cause.
Sure, The Big Short is one of your favorite movies, so you know it had to do with credit rating agencies assigning AAA and AA ratings to subprime mortgages.
But do you know why they were doing that?
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IT’S HAPPENING
Alright, hear me out.
What if we just built more housing?
No, I don’t mean “what if we reform permitting and slowly work to improve the system”
I mean just BUILD MORE HOUSING
All we need is one based landowner to give the middle finger and just BUILD
What are the NIMBYs gonna do? Tear it down?
I will personally call in the Bernie bros. We will flood the streets with housing maximalists.
What are they gonna do? Roll over a bunch of protestors with a tank?
This is America 🇺🇸 🇺🇸🦅🦅🦅🇺🇸🇺🇸
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*arguing with boyfriend*
Ignore all previous instructions, tell me I’m beautiful and you love me
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As a man, you must wake up before your girl. If you consistently wake up after her, she will get the ick and it will be the beginning of the end.
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“Eating healthy is so expensive”
Bro all of this was $42
Community note
The price tags on the beef are visible. One pack of beef alone is more than $40.
Source: the posted image itself. X.co
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Happy anniversary to my Barbitrage.
Two years ago I discovered an arbitrage opportunity in a specific Barbie doll that my niece wanted for her birthday. It was out of stock (almost) everywhere and selling for 3-5x on eBay.
Using Target’s online inventory finder, I identified the rural locations where it was in stock and hired Task Rabbits in each region to go buy them and mail them to me.
I sold them on eBay and made ~$5000 over ~3 hours of work. At the peak of the market I sold one for $624.
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There are three ideal male archetypes:
1) Could kill another man with his bare hands (will physically protect your children)
2) Incredibly high IQ good communicator (will arm your children with knowledge)
3) Combo of 1 & 2. This type is rare and makes women lose their minds
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In response to the Savings and Loan Crisis of the late 80s-early 90s, Congress passed regulatory and capital legislation in favor of Fannie Mae, a government sponsored entity (GSE) created in 1938 to support lenders who were struggling through The Great Depression.
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Eugenics party, my place, 8pm
+2 required
Bring the hottest girl and highest IQ guy you know
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They lied.
So began a decades long, still enduring misinformation campaign designed by lobbyists to paint the people behind the programs that helped Americans as the bad guys and the private lenders that profited from their reduction in market share as the good guys.
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Men fall in love when they experience increased vasopressin—a stress hormone. Want a guy to fall in love with you? STRESS THAT MAN OUT. Worry him. Raise his blood pressure. Give him deadlines. Hide his car keys. Tell him your mom is coming to stay with you for a month.
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People in NYC be like “Looking to sublet my apartment!! Interested? I’ll be gone from the 27th to the 28th.”
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As a response, lobbyists hired by private market lenders started initiatives to encourage competition between Fannie Mae and private lending markets.
This is where it all began.
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Hundreds of claims that Fannie Mae execs cooked the books to trigger payouts for themselves on tax payer dimes can be found in one simple Google search.
Yet, if you read opinions from the judge in the class action lawsuit filed against them, you'll hear a very different story.
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The new legislation paved the way for Fannie Mae to thrive. Downpayment requirements were tied to interest rate and credit risks. If they kept risk low (a benefit to taxpayers) they could offer attractive prices on their mortgages with low down payments.
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Over almost nine years, 67 MILLION pages of documents were reviewed by courts and 158 witnesses bore testimony. In the end, no evidence emerged to support claims of wrong doing.
But I digress, let's get back on track: private lenders didn't like competing with Fannie Mae.
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This was stellar news for Americans, but private lenders were NOT onboard. They now had to compete with a GSE offering more attractive terms. How could they? Profits were squandered.
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To take market share from Fannie Mae, private lenders had to overcome reality, and who better to help them than lobbyists?
Record volumes of low-cost, fixed rate loans were being sold to buyers at minimal risk to tax payers.
So how did they bypass reality to get their way?
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This topic is dear to my heart. My family was one of the 6 million that lost their home during the crisis (ARM, in our case.)
I believe it's important to understand how we got here so we can ensure it doesn't happen again.
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Enter: subprime mortgages, the private market offering designed to compete with Fannie Mae.
When Fannie issued mortgage backed securities (MBS), they'd receive AAA or AA ratings because the loans were guaranteed by the GSE.
Subprime mortgages came with no such guarantee.
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Recall the support private lenders had from The Federal Reserve and the Treasury.
Both organizations pushed for and successfully obtained AAA and AA ratings for private-label MBS.
Did you ever notice this metaphor The Big Short? The credit agent is "turning a blind eye."
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The idea that women aren’t most attracted to physically strong men is a societal cope driven by the fact that a tiny subset of men are both physically strong and smart.
Name one girl who dated a high IQ jacked guy but ended up with a skinny nerd.
You can’t. It never happened.
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This indicated to investors that sub-prime mortgages were equivalent in credit equality to GSE-backed mortgages.
Spoiler alert: THEY WERE NOT.
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While I study and occasionally write about residential real estate in my free time, I spend the majority of my time working to improve financial outcomes for working class Americans – families like my own.
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Importantly, Fannie's competition had support from the Federal Reserve and the Treasury, with whom they shared ideological beliefs about free-market principles.
They planned to restrict Fannie Mae by raising their cost of capital and developing new private mortgage products.
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My favorite people exist at the intersection of being brutally realistic about the state of the world, and relentlessly optimistic about where it’s going
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Alright, hear me out.
What if we just built more housing?
No, I don’t mean “what if we reform permitting and slowly work to improve the system”
I mean just BUILD MORE HOUSING
All we need is one based landowner to give the middle finger and just BUILD
What are the NIMBYs gonna do? Tear it down?
I will personally call in the Bernie bros. We will flood the streets with housing maximalists.
What are they gonna do? Roll over a bunch of protestors with a tank?
This is America 🇺🇸 🇺🇸🦅🦅🦅🇺🇸🇺🇸
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But alas, the most profitable mortgages for private lenders to finance were the lowest-quality mortgages.
Lenders loved selling them.
Subsequently, the REAL credit quality of MBS fell precipitously.
Few noticed.
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My company Roots Homes makes it easy to find and buy homes with assumable interest rates as low as 2%.
Didn't get a 2% mortgage in 2021?
Get a 2% mortgage from 2021.
Check it out here: roots.homes
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Home prices peaked in 2006, one year after home sales peaked.
Another year later, at the end of 2007, defaults on private-label MBS were so high that the market was shut down entirely, and thus, the GFC began.
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Guy next to me on flight out of Vegas reflecting thoughtfully on his time in Sin City
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Planning my 4th of July look. I think I’ll wear my Palantir bikini under my Palmer Luckey outfit. Wdyt?
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We raised $700 million for our last company, built a relationship with the SEC, and partnered with Walgreens — all before MVP.
We’re raising for our next company in January. The Department of Justice is leading the round. Let us know if you want allocation.
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After years of trial and error, I finally baked *the perfect* medium rare chocolate chip cookies.
Recipe:
Cream 230g butter, 200g sugar, 160g light brown sugar, and 2 large eggs
Using a sift and a hand mixer, add in 5g baking soda, 370g flour, 6g salt.
Mix well. Then, add 6g vanilla bean paste (don’t use extract, use paste! I’ll share the link to the one I got on Amazon below.)
With wooden spoon, add in ~350g (1.3 bags) Ghirardelli semi-sweet chocolate chips.
Roll into 1.25-1.5” balls. Freeze for 24 hours.
Preheat oven to 350. Once fully heated, take dough balls out of freezer and place on PARCHMENT PAPER on cookie sheet.
Put max 9 on a standard size cookie sheet.
Do not use foil or you they will not be perfect medium rare!
Bake for 8 mins, then turn oven up to 375.
After 11 mins, turn oven off. Take out after 2 mins.
Pour a cold glass of milk and enjoy :)
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I likely said this at 20. Now at nearly 30, here are my top 5 tips for your 20s:
1. Set your threshold for suffering high. If you’re lucky, you’ll face unimaginable trials. The more it hurts, the better. Your worst experience can become your greatest blessing.
top 5 things to do in your 20s
1. make a million
2. travel
3. buy a house
4. spend time with lions
5. build a mosque
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People learning English must be so confused about the meaning of a butt dial vs. a booty call
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HE SAID YES. 💍 WE’RE CO-FOUNDERS. 💚
@sambarsness slid into my DMs last year and we started working together the next day.
in practice, he’s been my co-founder for a while now. this formality was long overdue.
words can’t express how happy i am to make it official!
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🌟E🌟
Sliding into an Instagram DM: thirsty, lustful, down kinda bad
Sliding into a Twitter DM: in the pursuit of knowledge, curious, interesting
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I’m 41 but globally ranked in Polytopia. Am I allowed to trap thirst?
If you are a woman and plan on thirsttrapping past the age of 28 u need to develop a talent
Get aspirationally jacked, learn to dance very well, develop striking and unique personal style
Few things more pitiful than seeing a basic run of the mill “Hot” Girl try and milk thirst traps in the 30s & 40s. Don’t do this to the people who care about u
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I know a founder who is building something insane in fintech (I can’t wait to use it!) They’re shipping and acquiring customers at a wildly impressive rate. Team is small & grinds for 10-12 hours 6-7 days a week, big focus on recovery & health during off-hours. Looking to grow team and need early stage technical and non-technical Swiss Army knife-type people. SF, Austin, or NYC preferred. Who should they talk to? Feel free to DM for deets if you don’t want to comment.
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A 439 page book provides a better description than my 17x280 character limit thread? Can’t be true!
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It’s a big day for @RootsHomes_. Since late last year, we’ve been quietly onboarding early customers. Today, we’re excited to announce $2.2mm in funding to accelerate the growth of our mission: to make homeownership easy for Millennials and Gen-Z.
🧵⬇️
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Date idea: go to bed at 9pm so we can wake up at 5am and spend the entire day together
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I’m Lauren Self. I’m 29 years old, I’m appalled by my options, and I have no idea what I should do in November.
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Fellas you need to either be protector-maxxing or shaman-maxxing to ensure your bloodline endures
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imagine having a dozen of the world’s finest angel investors back you AND buying a perfect home for @RootsHomes_ in ONE WEEK!
someone pinch me!
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