Morgan Housel

So you didn't make anything.

You didn't make any money whatsoever.

Who you did push out is the first time home buyer who didn't ride that wave of rising home prices that is now priced out of a house.

That's such a fucking good point.

You need another house that is inflated by the same amount.

The only exception to this is if you downsize.

But that's a very rare thing to do.

If you migrate or downsize.

Well, I did it.

But most people do neither nor.

You know, Trump had a very honest comment about this two weeks ago.

And this is one of the great things about Trump.

He'll tell you exactly what's on his mind, won't sugarcoat anything.

And he said, look, I'm paraphrasing him, but he said, if we build more houses, that's going to come at the expense of people who already own houses.

If you build more houses, the price goes down.

That's phenomenal for the people who don't own a house yet.

And it's devastating for the people who do.

Yeah.

And so that's where we're at this, at this, this huge.

I read this book recently on the history of Levittown.