Landmark Links is Landmark Capital Advisors’ twice-a-week curated reading list covering the economy, finance, real estate and other stories of interest.
Landmark Links March 19th
Quote of the Day….“I have read all 50 of Warren’s letters and feel this is the most important one he has ever written.” – Bill Gates on why it is well worth your time to read Warren Buffett’s annual Berkshire Hathaway Shareholder Letter
One explanation for low interest rates (and mortgage rates) that doesn’t involve the Fed: “My back-of-the-envelope calculation (that’s the technical term for a fair guess) is that demand exceeds supply by as much as $1 trillion to $2 trillion a year. That is what has been forcing bond prices higher, and driving negative yields.”
See also: The economic forces keeping interest rates low.
Everything you ever wanted to know about falling oil prices but were afraid to ask
And the bear said….
“In order to keep housing prices in check, California overall would have had to build more (70,000 to 110,000 additional units each year), build denser, and build especially in the coastal areas (including Los Angeles) and central cities (as opposed to building mostly inland and in areas way outside of cities as has been done in the past). California also should have been doing this for decades already. Because it didn’t, “the state probably would have to build as many as 100,000 additional units annually—almost exclusively in its coastal communities—to seriously mitigate its problems with housing affordability.” And that’s in addition to the 100,000 to 140,000 units that the Golden State is already planning to build.”
And the bull said…..
Yes, housing starts were crappy in February but permits tell a different story.
And the people say…..
“The older I get, the bigger house I want” – why many retirees are UPSIZING, not downsizing.
The “Who Could Have Ever Seen This Coming” story of the day: North Dakota real estate booms during oil boom, now faces day of reckoning with oil bust. Who will be left holding the bag for thousands of apartment units when rent and occupancy get cut in half? Out of town developers, of course.
March Madness: Why do we still outlaw betting on sports when so many people do it anyway?
How to make millions simply by marketing yourself as a complete douche bag.
Bill Gross’ replacements are thriving at PIMCO.
Chart of the Day
Stimulus: The amount that Americans pay for energy goods is nearing historic lows.
You can now anonymously ship your enemies a bag of (gummy) dicks.
Only in CA: the Pop Tart Donut is now apparently a thing.
Nevada is considering a deal to allow medical marijuana for pets. In other news, a record number of pet owners in Vegas now say that their dogs have glaucoma.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.