Agreed, I think the simple answer is the tax rate is one thing for a primary residence and another for non-primary residences regardless of who owns it. For example in CA, Prop 13 stays in place for your primary residence, but properties are re-assessed every year like in Texas if it's not your primary residence. In addition, take away some (or all) of the tax deductions for SFH that aren't primary residences.
Rent would go through the roof and it would become even harder to get out of the rental trap. It's better to just have a very low hard cap on the number of properties anyone can own.
One of the areas where I've struggled to get effective use out of the LLM's is with UI/UX. That isn't my primary area of expertise (backend) so it definitively could be operator error here, but I use tools like v0.dev and just can't quite get it to do what I need it to do. Anybody have any tools, workflows, suggestions for this?
In my opinion the story here is that AWS allowed them to quickly build and prove out a business idea. This in turn afforded them the luxury to make this kind of switch. Cloud did it's job.
By now, we're only capable of processing videos with consistent camera angle throughout the video, I believe trace cameras change based on players' positions, right?
I'm interested in adjusting our systems and make it work with trace cameras.
If you want send me a message and we can work to generate some data from your video. It'll help me a lot to improve Futvis.
In my opinion, which doesn't mean much, we're in a very weird spot where it's like 50/50 on usefulness and uselessness. There are certainly approaches where GenAI can be incredibly helpful, I've seen it in action in the day job. However, there are also avenues where it's complete snake oil.
Slightly off topic, however, the post references the Carlsbad desalination facility. If you find yourself in San Diego and like oysters, I would highly recommend you checkout the Carlsbad Aquafarm. Take the tour and pick up some oysters.
What's really interesting and relevant to the topic is that the oyster farm serves as a pre-filter to the desalination plant and there's an symbiotic relationship between the plant and the oyster farm.
Pick up some oysters, for eating? If these oysters serve as a pre-filter for the plant, would you not want to eat them as these oysters would contain all sorts of pollution?
> This was the first oyster farm to feature an inventive “depuration and purification” process, which involves immersing the oysters in triple-filtered seawater once they reach full size. This ensures that the oysters are a completely safe, top-quality delicious shellfish product.
> That’s a really convoluted way to say they rinse them off in clean water.
It's more than rinsing them off. Oysters are filter feeders. They need to spend enough time in clean water to pump out any contaminants. It's an FDA regulated process:
If they were pulling disgusting water into the desalination plant, it would probably damage their equipment. If you watch the video, you'll find that macroscopic contamination is the first problem they have to solve, and the oysters should be fine for that.
Let me preface this by saying I'm so far out of my lane on this, however I have some thoughts on the paper.
- One thing that I've picked up from a number of sources that isn't mentioned in the article, is that millennials entering the home buying phase of their lives as being a big reason why housing was primed to pop between 2020-2024. Basically demographics have played a huge part in this boom.
- Most mortgages are actually in good shape from a paper perspective [1]
- Most mortgages are 30-yr compared to the crazy ARM instruments [2]
My theory is that home prices will NOT drop, like in 2008, but rather will stabilize. Three reasons why:
1. Milliennials will keep overall demand up
2. Homebuilders will slow down on producing new inventory, and we're already at all time lows for inventory
3. Existing homeowners will be hesitant to sell because most are locked into a 30-yr with most likely a sub 2-3% mortgate
All of that, in theory, will result in less overall supply which will keep prices stable
1. We have a demographic trend towards lower demand as GenZ population is smaller than Millenial, and Baby boomers will mostly die off over the next 10 years (Japan problem). Yes this considers immigration
2. We are close to all time highs in home construction pipeline, and the rate of starts is at 2000s bubble levels and increasing. We will likely eclipse the 70s building peak sometime this year.
3. If they aren't selling they also aren't buying (generally). Somebody choosing not to move due to low rate has no net effect on inventory
These narratives have been powerful in shaping the FOMO psychology though, despite data showing the exact opposite is true.
What's driving housing now is pure psychology, and low active listings (not low structural supply). The Fed will likely start selling MBS, driving rates to 6% or above to solve both of these.
Though the fact they even bought MBS for so long to begin with somewhat implies they don't care about creating a bubble in housing. Maybe they do nothing and let it ride
