Dave Grossman ✈️

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@iangcarroll That would be great if you can tap. I have heard of this mobile madness but I guess my thinking was more if you hadn't tried the phone and just went in on desktop, how would it know?

@MilesTalk They have a system from the mobile carriers to look up what device is behind the phone number, unfortunately. It does seem like the mobile app might have a way to tap the card to get around this, which is new. But desktop is still fully blocked.

Capital One bans you from using your points for up to an entire month if you get a new device (IMEI) or carrier, and there is no workaround. One of the worst fraud rules I have ever seen and it has been this way for over a year now. Why can they even detect this?

@ForemanTaxLaw Which makes perfect sense given how much buildable land there is (leads to home builder over building every cycle).

@MilesTalk Wait until you see what's going on in the southeast. Inventory is sitting

SO LIKE IS EVERYONE LEAVING SAN FRANCISCO AND NEW YORK OR ARE HOUSING PRICES INCREASING? I CANNOT FIGURE OUT WHICH IT IS.

@Budgetdog_ But it IS a place to live in so there’s that? Shrgy

A personal home is NOT an investment

@WH1TEWOLF702 @SteveOnSpeed Then you are in a different area! :) I assume one where homebuilders like KB and Toll Brothers can build because there is enough land?

@MilesTalk @SteveOnSpeed Im looking rn and there's so many homes for sale. Endless amounts.

No, buyers didn’t disappear. They are just unwilling to overpay for crappy homes that are worth half of the listing price.

It’s not imminent and you are fear mongerimg. Many markets are already down by 30-50%. The markets with the lowest median incomes and vast land for home builders have suffered greatly already. The markets tha are still going up with multiple over ask offers to this day? Not crashing. The time they would have crashed was when rates went from 2.75% to 7%. All economic theories based on the past said that was crash time. Know what happened? Prices have doubled since with most blinking an eye. A correction is always possible but people waiting for a crash in markets like the prime NYC subrurbs will be renting forever.

And the mortgage rates aren’t even the biggest problem we are facing. Home values have been artificially inflated and are still overvalued by 30-50% across the board in many areas. The housing market crash that is imminent is going to be devastating for so many recent buyers.

@MarketPalmer_ Yes, that $1,000 is a game changer. Who wouldn’t have 10 kids right now if they can get $10,000?! It’s like raising kids for free!

We are taking advantage of the $1,000 "Trump Account" funding for our son. He was born in 2025. Any American child born between 2025 and 2028 is eligible. This just might influence people to start having more kids (including us).

@neilquinn @djvlad @iyoolar Not bad but not even a point below what i see on a 30 year jumbo now. Will have to read up on the trade offs. If it’s just as good as a mortgage I’d certain sky save a few bucks.

@MilesTalk @djvlad @iyoolar SOFR+1% so about 4.7-4.8%

Here's a way better way to buy a house than getting a bank mortgage. Instead of putting a big down payment, take that money and invest it in great stocks for 10 years. During that time, rent a place to stay. For anyone who thinks you're throwing money away by renting, keep in mind that almost the entire mortgage payment you pay during that time is going to the bank's interest, not the principal. Your rent will probably be less than your mortgage payment + property tax + repairs. So use that extra money to buy more stocks. After 10 years, take a loan out against your stock portfolio and buy your house in cash. You will now own the house outright and have the deed - unlike getting a mortgage, where the bank holds the deed. Your loan rate will be WAY lower than a mortgage rate because it's secured by your stock portfolio. Also, you don't have to pay back the loan on a monthly schedule. You can pay it back at your own pace, or don't pay it back and let the interest accrue on the loan. You never have to worry about the bank taking your house if you miss a few mortgage payments like a bank loan. After it's all done, you own a house outright with a loan to yourself, and you never sold your stock portfolio, which keeps appreciating. BTW, that's exactly what I did.

@djvlad @iyoolar What would be an example rate and term on this today?

@iyoolar 100% false. A loan against your stock portfolio is WAY lower than any bank mortgage I've seen. Houses can fluctuate in value. When you borrow against your stock portfolio, the stock brokerage is holding your total amount already, hence the lower interest rate.

Every generation has a chance if the motivation is there. I get it. I miss the days before cell phones and social media. But on top of running three companies, I’m learning AI. I don’t mean I’m simply prompting ChatGPT (although I do that too and results do improve with better prompting). I mean that in my ‘spare time’ I’m working on using Claude Code with Cursor and v0 to build things. Working on an app. You just have to think ahead and not get left behind. Things evolve. Opportunity takes new shapes. And I sense a fourth company in the works all about AI building.

This is wrong. It assumes that new grads don't learn new skills. I'll let you in on a secret. AI, in whatever way we use it, is going to change, continuously, for YEARS GenZ is AI native and will keep up. The non native AI generations?😀 No chance.

Ok, have to call you out on a contradiction in your article. You said people in Westchester (you don’t delineate but I’ll assume you mean rich Westchester) should sell their houses now. Then you say the rich will get richer (agree on K shaped economy). So, are the panic selling or are their houses about to double in value (again)?

The Fuckening of white-collar workers has arrived. blog.andrewyang.com/p/the-end-of-t…

@TomCrown Not really.

30 year mortgage approaching 7% we’re never gonna own homes

Hyatt Adds Hotel in Prime Santa Monica – The Georgian milestalk.com/hyatt-adds-hot…

@JoeyMoose That’s not Bridgetower is it??

I moved out of my apartment in NYC today. It was a 1 bedroom 1 bathroom. 700 square foot. Low floor. No view. No washer dryer. They raised my rent to $5,000/month if I stayed another year. It didn’t make sense. You really need to make $100k+ a year to live decently here.

@davidpattersonx Cool that towns with no buildable land left will have AI robots inventing land and building cheap houses on that imaginary land.

There are two reasons not to worry too much about saving for retirement: Most people "save" in the value of their home. Home prices will collapse when AI and robots can build homes at one-tenth the cost. There is no guarantee that your savings will survive the singularity. AI and robots will create superabundance, and everyone will get a universal high income (UHI) for life. Prices of everything will drop dramatically, so UHI will buy much more than you can buy with an average salary today. Everyone - not just the elderly - will "retire" because AI and robots will do all the work. And everyone will receive a very high "pension" in the form of UHI.

Depends what you have. If you have a personal card, you can still get one or both business cards (have any side hustle at all that results in business income? That would make you eligible. Also, if you’ve had your existing card over 24 months you are eligible for a new bonus. Think about how you CAN get this, not how you can’t…. It’s too valuable.

@MilesTalk @SouthwestAir @ScottKenyon3 Well, that doesn’t apply to existing cardholders. So…. 🤷🏼‍♀️

Dang it @SouthwestAir I wanted to stay with you through all your debacle but today was the last straw. Charged $35 for my son’s bag due to being booked on pts. I paid with my SWA card. Still charged. I am done with you and @chase. Loyal since 1999. Bye. Hello @AmexBusiness

@Carolynahil @SouthwestAir @ScottKenyon3 Not true at all! Actually, just opening 1 or 2 SW credit cards would do it and you'd get the redeemable points that come with the sign up bonus on top of those points being Companion Pass qualifying :) yourbestcreditcards.com/southwest-comp…

@MilesTalk @SouthwestAir @ScottKenyon3 Only way to obtain said pass is to complete 100 qualifying flights or spend upwards of $100k. Not doable for most travelers.

@ChrisRamsey60 Gorgeous house. Can’t help but wonder what the utilities run, though!

I’ll probably never sell this place. I was 29 and had only bought investment properties up to that point. Delayed gratification of a real estate investor 🤷‍♂️ I threw out a lowball offer fully expecting the seller to reject it. He accepted. Locked in a 2.9% mortgage.