interest rate

AirB&Bs and the Housing Market

This image is from a Twitter… uh, X-Twi… a TwiX post by one Amy Nixon, @texasrunnerDFW. (It’s not the property of TNFN; the laws appear unclear on who exactly owns it. But if Amy objects, we’ll take it down as a matter of simple courtesy.) It shows a startling disparity in Austin, Texas between homes available for sale and AirB&Bs for rent: 3329 homes for sale, 12,127 AriB&Bs for rent.

You’d think this means people should sell the AirB&Bs or something, and that they’re either greedy or stupid.

But after a little research and analysis, this just tells me that Austin needs more houses. Which it won’t get.

No, don’t hate me yet. Read first.

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Obstruction Is Its Own Reward

The Secretary of Labor can’t get confirmed. Her own party is blocking her.

Normally, this wouldn’t be worth commenting on, even though Julie Su is not only fully qualified but also is actually doing the job right now. The Democrats, as we all know, are their own worst enemies and always have been. Rather than focusing on their opponents, they spend most of their time in office eating their own young. It’s been going on so long now, it’s acquired the force of tradition.

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Fireside Chat

My friends, I want to talk for a few minutes with the people of the United States about banking — to talk with the comparatively few who understand the mechanics of banking, but more particularly with the overwhelming majority of you…

Franklin Delano Roosevelt, President. 12 March, 1933

It’s been ninety years, and we still haven’t learned the lesson.

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