THE BASIS POINT

Linkage: Shadow Bank Debunk, Lonely Workers, Large Empty Houses

Today’s Linkage begins with my latest for HousingWire debunking shadow banks. Then we get into lonely Gen Z and Millennial workers, and empty houses.

Meaning 63% of households have 2 or fewer people, but 61% of homes have 3+ bedrooms.

And as for those lonely workers, welcome to the real world.

That statement isn’t just directed at Gen Z and Millennials, it’s to everyone.

We’re all on our own in the future of work. It’s the reality of an era where most jobs are shorter term.

Which may make it feel impossible to get to a household income where $488k per year gross income makes you a one-percenter.

Is that really a goal?

I know it is for a lot of city folk. I’ve been around strivers like that in my career for a long time. And I’d be lying if I said I didn’t strive in this direction.

Also below are links to key notes on the mortgage market moving away from an adjustable rate loan (ARM) benchmark that’s been in place forever. And Visa moving fees to businesses for the first time in 10 years.

What does all this mean for consumers?

Read and find out.

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