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A Conversation with Charles Marohn

The Messy City Podcast

NOTE

Market Sensitivities: Consumer vs. Product

The housing market is sensitive not to the buyer's ability to pay for a house but more to macroeconomic factors such as interest rates, liquidity, and investments like mortgage-backed securities. The market is driven by the ability to create financial products from real estate transactions rather than catering to individual buyers' affordability. Therefore, consumers are not the primary focus of the housing market; instead, they are the product being used to create financial instruments for investment purposes.

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