"Econ 102" with Noah Smith and Erik Torenberg

The Vibecession & the Future Economy under Trump vs Biden with Kyla Scanlon

20 snips
Jun 5, 2024
Guest
Kyla Scanlon
Kyla Scanlon, creator and author of "In This Economy?", dives into the vibecession and the housing crisis, shedding light on the emotional aspects of economic perception across political lines. She discusses the generational wealth gap, contrasting today's struggles with the traditional American dream. The risks of hyperinflation, the impact of Trump's and Biden's policies, and tensions with China are explored. Listeners will also find insights on the cyclical nature of economics and its connection to political polarization.
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INSIGHT

Housing as Wealth Storage

  • Americans primarily store wealth in owner-occupied housing.
  • This creates inherent issues as housing is both a necessity and an investment.
INSIGHT

Millennial Housing and Inequality

  • Millennials are entering the housing market later than previous generations, facing higher borrowing costs.
  • This, combined with inherited wealth disparities, exacerbates inequality.
INSIGHT

The Unsustainable Housing Dream

  • The “American Dream” of large housing returns is unsustainable and unlikely to repeat for later generations.
  • NIMBYism restricts supply, further hindering younger generations’ access to affordable housing.
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