Shane Parrish

And he said all the, you know, I'm paraphrasing here, but he's like basically all the Buffett wannabes sat on the sideline.

Yeah, yeah.

And they'd been waiting for this moment, and they'd told their investors about it.

They'd written about it.

And then all of a sudden it happened, and they were paralyzed.

10% of them were able to accomplish it.

For most people, one of their largest purchases is their house.

When does it make sense to purchase a house and when doesn't it make sense to purchase a house?

Yeah, it's really difficult.

It's something that needs to be solved on multiple levels, right?

Like teachers should be able to live in the neighborhood that they teach in.

Firefighters should be able to live in the neighborhood they teach in.

Somebody working full time, I think, you know, even younger than 28, you know, 24, 25 should be able to support a mortgage.

And, you know, I would love to see that problem solved.

Well, there's a weird incentive because anybody who owns a home, when you think of affordability, it's like, how does that affect my equity and my, if house prices go down 10% and we're leveraged here, right?

So a 10% drawdown in a house price might wipe out 75% of my equity.

I've seen reports, at least in Canada, that 30% of the price of a new home is basically government fees.

And it's insane, right?

We're slowing things down.

Anyway, we can get off this, but I want to switch to you