According to "The Oracle Of Wallstreet", Sports Gambling Is Why The Housing Market Is Bad And Why Men Aren't Having Sex
Just when you think the Media and individuals on Wall Street couldn't get more out of touch, along comes this take. Basically, she is saying that sports gambling is giving men pleasure, and that's why they don't have money in their savings to buy houses and raise families. Also, they aren't having enough sex for the likes of these pundits, apparently, and these are phenomena they are saying are a result of various states legalizing sports gambling. Yes, ever since the 2018 Supreme Court ruling, it had to have been sports gambling which is why young men haven't been starting families and buying houses. It totally doesn't have to do with the inverse relationship between wage growth and housing prices due to large groups like Black Rock buying up tons of single-family homes in cash.
What's crazy is that sports gambling was super popular back in the 1950s and 1960s before organized crime kind of ruined it, and Kennedy passed the Federal Wire Act in 1961 to go after the Mob (a huge headache for him in the future). Sports gambling was irresponsibly everywhere! The regulation of it and the crime involved was its downfall. Hell, the crazy thing is- dudes back then with High School degrees could afford houses, have families, and multiple cars!
I know sports gambling may be more accessible and widespread now, but back in the day, everyone was still gambling; I would argue that back when home ownership was at its highest in the U.S., sports gambling was probably pretty high because people had more expendable income, not just to buy houses but to throw a little money on sports.
It's just ridiculous to see someone who apparently "Predicted the 2008 housing crisis" not see what my blogger ass that wants to own my own home one day sees. (I want to put an Urinal in my house, but my landlord will not allow me to.) I learned too many damn handyman trades working construction in HS not to apply it to my own home. I am tired of losing my deposit when I put up shelves and cabinets in rental apartments just because I need more storage. Why is this "Analyst" not even thinking about mortgage rates right now that are super high just to curb inflation, which is probably draining potential homeowners' savings and pocketbooks more than the 10 $5 dollar parlays I place a week???
Also, the craziest thing is why are we still saying "Young Men" have to buy houses and start families while these female Analysts with long careers and probably amazing earnings are so oblivious to the impact doubling the workforce has had on wage growth and how double income families are the majority of families in the U.S.
I know I am ranting, but how the hell can I see these factors at play when "The Oracle Of Wall Street" can't?