Bill Mervin, from Bill Mervin mortgage team, has over 15 years experience supplying American families with homes,
“Let me put it this way, I’m standing in front of a burning house, and I’m offering you fire insurance on it. Saints don’t live on Park Avenue.”
“How are you fucking us?”
“When you come for pay day, I’m gonna rip your eyes out. I’m gonna make a fortune. The good news, vinny, is you’re not gonna care because you’re gonna be making so much money. That’s what I get out of it. You wanna know what you get out of it? You get the ice cream, with the hot fudge, the banana, and the nuts, and the sprinkles. And yeah, if this goes through, I’d get the cherry, but you get the Sunday Vinny.
“Alright, I buy that, thank you.”
“In the years that followed, hundreds of bankers and agencies and executives went to jail. The SCC was completely overhauled, Congress had no choice but to break up the big banks and regulate the mortgage and derivatives industry. Just kidding, the banks took the money the American People gave them and used it to pay themselves huge bonuses and to lobby Congress to kill big reform. Then they blame the immigrants and poor people, and this time, even teachers. And when all was said and done, only one single banker went to jail, that poor schmuck.” - The Big Short
00:00 Jay introduces Bill, and shares a very interesting quote from The Big Short.
10:23 Bill explains how supply and demand works within the housing market and problems that can arise with increasing the supply.
20:37 “Distort the markets, attract real estate capital, create inflation, and it’s gonna come crashing down.”
31:52 Not everybody is in the appropriate position to own a home and maybe trying to find ways to facilitate that isn’t a good idea.
41:16 Things that would be considered “bad” for the world, are “good” for interest rates.
51:27 The median income is changing due to people working multiple jobs to support themselves and loved ones.
01:02:21 How safe is it to have side hustle, such as uber or only fans, and how much does the government regulate it?