Trump Signs Executive Order for ‘Housing Cost Reduction’ to Win Public Sentiment Ahead of Midterms
On the 22nd, President Donald Trump signed an executive order aimed at reducing housing costs, which includes easing the burden of mortgage insurance premiums and expanding the supply of prefabricated homes.
Through this executive order, President Trump directed the Federal Housing Finance Agency (FHFA) to establish a pilot program where mortgage insurance premium payments are automatically terminated if a borrower has secured a certain level of home equity based on the current home value. (Mortgage insurance is typically required when a homebuyer puts down less than 20% of the home’s value as a down payment and takes out a loan)
Additionally, President Trump directed the creation of a task force (TF) to improve the quality of prefabricated homes—which are manufactured off-site in factories and assembled on-site—and to lower construction costs.
Half of Consumers “Willing to Purchase a 3D-Printed Home”
A survey indicates that about half of consumers are willing to purchase a 3D-printed home if the price and location conditions are right.
According to a recent report by real estate platform LendingTree, 49% of respondents stated they would consider purchasing a 3D-printed home if one were available in their desired location within their budget.
Additionally, 36% of respondents predicted that 3D printing technology will help lower housing cost burdens over the next 10 years.
Experts note that the greatest advantages of 3D-printed homes are their fast construction times and high durability, pointing out that they have superior resistance to strong winds and fires compared to ordinary homes, and are relatively resistant to pest damage such as mold and termites. They are also known to easily implement curved walls or unique structures that would be costly and time-consuming with conventional construction methods.
Florida Takes Lead in Battling Big Tech
Florida’s attorney general asked a judge to restrict children’s access to Meta ’s platforms, won a court ruling allowing a social-media ban for minors and sued messaging platform Discord for allegedly failing to protect children from predators.
Spearheaded by Gov. Ron DeSantis and Attorney General James Uthmeier, both Republicans, the multifront effort aims to rein in AI model development, guard consumer privacy and protect minors from social-media harms.
In June, Florida became the first state to file a civil lawsuit against OpenAI and its chief executive, Sam Altman, saying the company knowingly re-leased an unsafe product that facilitates self-harm and violence.
Uthmeier asked a different court this month for a temporary injunction ordering stronger protections for kids on Meta’s platforms. Florida is also one of two states—along with New Mexico—to reject an $18 billion settlement with Meta over child-safety claims.
Rates Hit Blackstone Core
Blackstone’s net realizations, which reflect proceeds from sales of assets, fell 34% from a year earlier, led by a 49% decline in its private-equity division. Its real-estate division reported a 21% drop.
Rising rates make it harder for buyers and sellers to agree on prices and increase borrowing costs associated with transactions.
Realizations in Blackstone’s third major unit, credit and insurance, rose 43%. Massive new borrowing to fund AI-related infrastructure investments has benefited Blackstone and other private-credit providers.
“We also believe we’re in the earliest stages of an AI-driven uplift in productivity,” CEO Stephen Schwarzman said.
Five Ideas To Start Fixing Social Security
Social Security is on the path to insolvency, prompting lawmakers and experts to hunt for ways to address its long-term finances.
The program already spends more on benefits than it receives in tax revenue. Within a few years, reserves built up in flush years will be exhausted, raising the prospect of benefit cuts that exceed 20%.
No one in Congress expects that to happen. But Congress hasn’t figured out what to do instead.
1) Increase the retirement age : Shrinks long-range gap by 15%
2) End the tax cap($184,500): Shrinks long-range gap by 58%
3) Raise the tax cap: Shrinks long-range gap by 19%
4) Lower the annual benefit adjustment : Shrinks long-range gap by 15%
5) Change initial benefit levels : Shrinks long-range gap by 69%
A Case for AI Armageddon
The right response for investors who believe warnings that an advanced AI might end the human race: Back up the truck.
The logic is simple. If there is a “>10% chance” that artificial intelligence could kill all humans in the next decade, as an Anthropic researcher said last month, there’s a 90% chance it’s really really good, but designers manage to rein in its genocidal instincts. The notes are:
First, notice the proviso: In its filing for an IPO Monday($100B is expected to raise), Anthropic warned of “catastrophic or existential risks to humanity.”
Second, it isn’t necessarily true that a well-intentioned AI whose evil twin is smart enough to bring down civilization is so smart that it’s bound to rake in big profits.
Third, The companies calling for a slowdown in AI development are spending tens of billions a dollars a year developing their models, and are at the cutting edge.
Tesla Aims to Sell Robots Next Year
Tesla Chief Executive Elon Musk said the carmaker could be ready to start shipping its Optimus humanoid robots to outside companies by the end of next year, and that its fleet of autonomous taxis will soon become a significant driver of revenue.
On Tesla’s third-quarter earnings call Wednesday, Musk told investors that the company’s Robotaxi fleet would soon prove lucrative as usage of the service surges “exponentially.”
Demand for its old-fashioned human-owned cars is growing because Tesla’s Full Self-Driving (Supervised) automated driving assistance system is now a key selling point, he said.
Tesla’s charging stations and other products use SpaceX’s Starlink satellite internet. And SpaceX and Tesla are jointly developing the Terafab chip plant in Texas to meet their ambitious AI goals.
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