Lennar Corporation

Sacks support ×2 ▼ on 📈 Uninsurable coastal property gets repriced down E199 · 2024-10-11 ▶ 28:26

So, it was a good thing that I sold my Miami place when I started.

Chamath support ×3 ▼ on 📈 Uninsurable coastal property gets repriced down E199 · 2024-10-11 ▶ 25:31

My personal belief is I think that the real estate markets in some of these places are meaningfully mispriced. And specifically what I mean is that they are massively overpriced.

Friedberg support ×3 ▼ on 📈 Uninsurable coastal property gets repriced down E199 · 2024-10-11 ▶ 16:02

So you can kind of think about Florida state's re-insurance thing being effectively bankrupt. It doesn't really have the capacity to underwrite the insurance anymore. So the real question for everyone is, is the federal government going to have to step in and start to support the price of homes?

Chamath support ×2 ▼ on 📈 Uninsurable coastal property gets repriced down E163 · 2024-01-26 ▶ 1:30:44

I have to take the wood shingles off because we can't get the insurance people to insure.

Friedberg support ×2 ▼ on 📈 Uninsurable coastal property gets repriced down E163 · 2024-01-26 ▶ 1:29:55

These sorts of events, more frequent, more scary, more significant. Hotter oceans are driving these events

Chamath support ×2 ▼ on 📈 Uninsurable coastal property gets repriced down E151 · 2023-10-27 ▶ 1:20:14

it's become economically untenable in a lot of places for these folks to be able to insure, insure their home

Friedberg support ×3 ▼ on 📈 Uninsurable coastal property gets repriced down E151 · 2023-10-27 ▶ 1:19:36

there's going to be a real economic cost to bear on the order of several trillion dollars over time because someone has to underwrite that real estate ... it actually translates economically through the reinsurance and insurance markets into the real estate markets fairly quickly

Chamath support ×2 ▲ on 🏛️ Blue-state permitting has broken housing construction — building migrates to light-regulation states E92 · 2022-08-20 ▶ 44:20

So I think David is right, which is that there's a contortion of laws that come together, that underlie some of these decisions that then manifest in a petition like this, and etc. They all need to get cleaned up.

Jason support ×2 ▲ on 🏛️ Blue-state permitting has broken housing construction — building migrates to light-regulation states E92 · 2022-08-20 ▶ 45:04

So it's hypocrisy all the way up and down. And I think this is why people are largely moving to different places around the country, and it's a competition between states and cities.

Sacks support ×3 ▲ on 🏛️ Blue-state permitting has broken housing construction — building migrates to light-regulation states E92 · 2022-08-20 ▶ 40:04

But my point is just we've like so broken the free market for housing that we then come along and say, see, the free market's not working. We need more government mandates. Look, is this happening in Miami?

Chamath oppose ×2 ▲ on 📈 Builders green-light supply once the inflation boogeyman dies E74 · 2022-04-01 ▶ 6:03

restoration hardware sells overpriced crappy furniture into a housing market that's basically shut down because refi rates are at 5%. ... We have massive NIMBYism up and down the stack that prevents us from building the housing supply we need.

Jason support ×2 ▲ on 📈 Builders green-light supply once the inflation boogeyman dies E35 · 2021-06-13 ▶ 1:01:53

I think what's happening now becomes the catalyst to break the NIMBYism. ... And, you know, you guys know I have a housing company in my portfolio. And they are getting absolutely deluge with people begging them to do affordable housing in different locations.

Sacks oppose ×2 ▲ on 📈 Builders green-light supply once the inflation boogeyman dies E35 · 2021-06-13 ▶ 1:00:37

And Chamath is right that the builders could get the capital for it. But it is too hard to get these projects approved.

Chamath support ×2 ▲ on 📈 Builders green-light supply once the inflation boogeyman dies E35 · 2021-06-13 ▶ 57:41

then the builders will be back in size and they'll green light a lot of projects. And I think you'll see housing supply kick back up really aggressively. That'll be good for us.