market

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.

(more…)

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.

(more…)

Fear and Loathing: The Plague Market

After opening fifteen hundred points down, the stock market dropped another two thousand.  Consumer goods are up 20% — hoarding toilet paper does some good after all — but the rest of the market is through the floor.

Coronavirus fears, a massive price war for oil, and a certainty among financial wonks that a downturn is due:  All these come together to create a truly nasty couple of days, (more…)