Jason Hartman

It's terrible. Yeah. There is a massive housing shortage. We should have about double to be just normal.

It's terrible. Yeah. There is a massive housing shortage. We should have about double to be just normal.

Yeah. Yeah. Well, you know, what you're going at is it depends what survey you're looking at. So let me let me just dice that a little bit. So National Association of Realtors is probably what you're looking at. And their survey of inventory includes pending home sales and contingent home sales and actively listed homes. So I don't like their survey, although they have been doing it the longest.

Yeah. Yeah. Well, you know, what you're going at is it depends what survey you're looking at. So let me let me just dice that a little bit. So National Association of Realtors is probably what you're looking at. And their survey of inventory includes pending home sales and contingent home sales and actively listed homes. So I don't like their survey, although they have been doing it the longest.

What I like is the Altos data. And what that does is only active. They don't count pending or contingent sales. So when they count them, you could really buy that house today. So that's why I follow that one. So it depends what you follow. But it doesn't really matter which survey you follow as long as you just compare it to the same survey five years ago, ten years ago. That's right.

What I like is the Altos data. And what that does is only active. They don't count pending or contingent sales. So when they count them, you could really buy that house today. So that's why I follow that one. So it depends what you follow. But it doesn't really matter which survey you follow as long as you just compare it to the same survey five years ago, ten years ago. That's right.

Then you know.

Then you know.

It's the same percentage. Yeah. Okay.

It's the same percentage. Yeah. Okay.

Yeah.

Yeah.

Yeah. Yeah. It's a mouthful. It's an inflation-induced debt destruction-

Yeah. Yeah. It's a mouthful. It's an inflation-induced debt destruction-

Right.

Right.

Yeah, so the concept is, and let's just circle back to that inventory thing for a minute because I kind of wanted to say one more thing. We have about 140 million housing units in the U.S. Less than half a percent are for sale. Right. That's insane. No, it's insane.

Yeah, so the concept is, and let's just circle back to that inventory thing for a minute because I kind of wanted to say one more thing. We have about 140 million housing units in the U.S. Less than half a percent are for sale. Right. That's insane. No, it's insane.

For NAR data. For Altos data, it's about a million five. That's right. So, yeah.

For NAR data. For Altos data, it's about a million five. That's right. So, yeah.