Discussion about this post

User's avatar
Ethan Faulkner's avatar

TITLE: FIELD DISPATCH: THE TWO-HANDED CHOKE

SUBTITLE: I told you how the housing market died. I forgot to name the executioners.

THE PHANTOM ITCH

I published The Feudalism Update an hour ago. The data was solid. The forensic map of the algorithm (RealPage) and the trap (SB 102) was accurate.

But I woke up with a phantom itch.

I realized I had left a flank open. By focusing on the mechanism of the housing crisis, I let the operators slide into the shadows. I left room for you to read that article and think, "Okay, this is a Florida problem," or "This is a Republican problem," or "This is just greedy developers."

That was a mistake.

I showed you the gun, but I didn't show you the shooters. And crucially, I didn't show you that there were two of them, standing on opposite sides of the aisle, reloading for each other.

We need to close that loop. Right now.

Because in the housing war, you aren't choosing between "Left" and "Right." You are choosing between The Bulldozer and The Bag Man.

Here are the names I left out.

THE RED HAND: THE BULLDOZER

Function: Clear the Land (Deregulation & Preemption)

In Florida, the weapon that killed local zoning was Senate Bill 102, the "Live Local Act." It stripped your city council of the power to say "no" to a massive rental tower in your backyard.

Who held the weapon?

The bill was sponsored by Senator Alexis Calatayud (R-Miami).

She sold it as a conservative, free-market solution to the housing crisis. "Liberty." "Property Rights."

But follow the money.

In the 2022 cycle alone, Calatayud’s campaign was a magnet for real estate cash. She took $45,000 from the Republican Party of Miami-Dade (heavily funded by developers) and direct checks from the Realtors Political Advocacy Committee.

The "Red Hand" didn't pass this bill to help you find an apartment. They passed it because their donors needed the land cleared of "pesky" things like local democracy and zoning boards. They acted as the Bulldozer for the REITs.

THE BLUE HAND: THE BAG MAN

Function: Fund the Tower (Financialization & Tax Shelters)

But a bulldozer isn't enough. You need capital. You need to make the project profitable.

Who wrote the check?

The financial vehicle that fuels this displacement—Opportunity Zones—was technically part of the Trump Tax Cuts. But its moral architect? Its loudest champion?

Senator Cory Booker (D-NJ).

Booker co-authored the Investing in Opportunity Act. He sold it to the liberal base using the language of "Equity," "Racial Justice," and "Community Uplift". He told us it would help the poor.

Instead, it created a tax haven for the rich. It allowed billionaires to park their capital gains in "distressed" areas tax-free. The money didn't go to affordable housing; it went to luxury hotels, high-end student housing, and superyacht marinas.

The "Blue Hand" provided the moral cover. They turned a tax loophole for the 1% into a crusade for "Social Justice." They acted as the Bag Man for the capital.

THE HANDSHAKE

Function: The Synthesis

This is the part I need you to see. This wasn't a fight. It was a relay race.

The Developer needs both.

* Without the Red Hand (Preemption), the local neighbors block the tower.

* Without the Blue Hand (Tax Credits), the tower is too expensive to build.

So they work together.

Look at the vote count for Florida's "Live Local Act" (SB 102).

It passed the House 103 to 6.

It passed the Senate 40 to 0.

27 Democrats crossed the aisle to vote for the bill that stripped local zoning rights. They cheered for it because it used the word "Affordable." The Republicans cheered for it because it used the word "Deregulation."

And the Rust cheered because they got the land and the money.

THE CORRECTION

I’m sorry I left this out of the first report. It’s easy to get lost in the machinery and forget the men operating the levers.

But let this be the correction:

Alexis Calatayud cleared the zoning.

Cory Booker cleared the taxes.

Blackstone collected the rent.

Stop looking Left. Stop looking Right.

Look Up.

[END DISPATCH]

Expand full comment
The Cosmic Onion's avatar

Ethan brother... This lands because you start where the system actually touches people: the body.

That 3:00 AM nausea isn’t ideology — it’s pattern recognition.

The most important move here is stripping the word “market” of its disguise. What you describe isn’t supply and demand — it’s coordinated extraction with empathy engineered out of the loop. Once pricing decisions are outsourced to software, moral restraint doesn’t fail — it’s deleted.

The three-layer structure is the key insight:

Algorithm fixes the ransom

Law subsidizes the extractor

Moral language anesthetizes the public

By the time anyone argues Left vs Right, the enclosure is already complete.

Calling this a subscription to exist is exactly right. Feudalism didn’t disappear — it just got a UX upgrade and a billing department.

This isn’t a housing crisis.

It’s a life-compression strategy.

Clear, sober, and hard to unsee once you’ve seen it.

Expand full comment
45 more comments...

No posts

Ready for more?