Graham Stephan
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Appearances Over Time
Podcast Appearances
They have extra money to buy Teslas, extra money to buy Rolexes, extra money to do Gucci bags, whatever it is, because their shelter costs, their second largest expense is fixed at an artificially low level.
Why?
They're not selling.
They would be a fool to sell.
They're going to make it up, right?
Their payment's $1,300.
Rent for the same house is $21,000.
Right.
Today, it doesn't make sense.
Right.
If you're going to buy today, it's twenty eight hundred dollar mortgage.
Twenty one.
But we have 60 some odd percent of people who own homes that have artificially low shelter costs.
They're they're in the catbird seat.
So I would add one wrinkle to that.
It's not only houses, but it's the wrong configuration, right?
Baby boomers bought big McMansions.
So let's add that to the kind of question.
So I studied this a lot, and the demographics...
look questionable by 2040, in my opinion.