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What we die of vs what the media covers -
Mamdani -
Funny Pics -
It looks like Trump was on the ballot after allIn Pennsylvania’s Bucks County, voters elected a Democratic district attorney for the first time since the 1800s, part of a Democratic sweep of every county office, including controller and recorder of deeds.
In Georgia, Democrats ousted two Republicans on the Public Service Commission, the party’s first capture of a nonfederal statewide office in Georgia since 2006. In Connecticut, Democrats took control of 28 towns from the GOP. In New Jersey, Democrats won their biggest majority in the General Assembly since the Watergate era.
Much of the attention Tuesday night focused on the Democrats’ big wins in the Virginia and New Jersey governor’s races, as well as in the New York mayor’s contest. But the party also won hundreds of lower-profile state and local contests — often swamping Republican incumbents with overwhelming turnout, suggesting that voters’ desire to send a message opposing President Donald Trump was deep and wide.
Gift link.
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Subsidizing HomeborrowershipBy the way it looks like the UK called all its remaining perpetual bonds in 2015 - after I was out of the business. (They were always callable)
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Subsidizing Homeborrowership -
Subsidizing HomeborrowershipWhy not perpetual mortgages?
The UK has perpetual bonds. Some are left over from the War of Austrian Succession (~1750). They used to fuck with our modeling.
It formalizes the idea that you make payments as low as possible and just accept that your equity will only be from appreciation
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Subsidizing HomeborrowershipI did mention that that would be the entirety of your equity. Though that depends on population growth outpacing housing stock growth, which, while always true in our lifetimes, is really now dependent on immigration.
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Subsidizing HomeborrowershipI ran the numbers real quick on the median mortgage (at origination) of 324k after 10 years (average time we own homes).
At selling time you’d have 17k of equity vs 50k. That house you got the 324k mortgage for is valued at ~410k.
17k wouldn’t cover closing costs. You built essentially no equity unless the value increased.
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Subsidizing Homeborrowership
