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Thread: 3rd Stimulus

  1. #21

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    Quote Originally Posted by LeadHead View Post
    The rent and eviction moratoriums have definitely made me re-think my plans to purchase another rental house. I've decided to look for farmland instead, but it's hard to find a chunk small enough that I can afford, but still productive.
    I've been looking at land for years but everything I'm interested in buying is a little too expensive for me since you can't finance raw land the same way you finance developed property. Probably the same issue you're having. I have done some research though and noticed that very regularly land in my state sells for significantly under asking price. So that's encouraging at least.

  2. #22

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    Hang onto your fiat. Trickle down effect of the 1.9 T stimulus has not happened yet.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  3. #23

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    Quote Originally Posted by LuckyAllMyLife View Post
    I've been looking at land for years but everything I'm interested in buying is a little too expensive for me since you can't finance raw land the same way you finance developed property. Probably the same issue you're having. I have done some research though and noticed that very regularly land in my state sells for significantly under asking price. So that's encouraging at least.
    Buy land and stick a cheap building on it.
    American Legion Preamble: https://www.legion.org/preamble

  4. #24

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    Quote Originally Posted by vertical1 View Post
    Hang onto your fiat. Trickle down effect of the 1.9 T stimulus has not happened yet.
    Go on.....

  5. #25

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    Last time they did this, the painful end result to me was the FACT that retail groceries, goods and services mostly doubled from what I consider the norm.

    Bread Loaf 1Ea.

    Yeah you can buy lesser nutritional quality or generic....and get all the great GMO stuff but damn Its just a LOAF of Bread has gone up in FIAT.
    That price today 2.4.21 is pre trickle down. In a little while that price will also go up....IMO.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  6. #26

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    Quote Originally Posted by vertical1 View Post
    Last time they did this, the painful end result to me was the FACT that retail groceries, goods and services mostly doubled from what I consider the norm.

    Bread Loaf 1Ea.

    Yeah you can buy lesser nutritional quality or generic....and get all the great GMO stuff but damn Its just a LOAF of Bread has gone up in FIAT.
    That price today 2.4.21 is pre trickle down. In a little while that price will also go up....IMO.
    Everything is going up except the CPI.
    American Legion Preamble: https://www.legion.org/preamble

  7. #27

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    Quote Originally Posted by LongDonSilver View Post
    Everything is going up except the CPI.
    Whul yeah! Thats the Gummit's measuring stick. If that goes up, They gotta
    shell out more for the peeps on the teats.
    Yeah, I may be one of em. Dammit I paid into the house of cards my entire werking life.
    (like I had a choice?)
    Last edited by vertical1; 02-04-2021 at 04:59 PM.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  8. #28

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    Quote Originally Posted by LuckyAllMyLife View Post
    I'm friends with a couple landlords in NYC. They're getting eaten alive. I feel awful for them honestly. These are hard working blue collar guys in their 60's and 70's that have lived modestly and saved and grew a real estate portfolio and they're watching their lifes work get wiped out.
    Can't say I feel sorry for them. They bought overvalued property, as allowed by artificially low interest rates created by the fed to give the illusion of wealth. In short, they thought profiting from sin (usury) would have no consequences, and probably also expected finding suckers of tenants who would pay sky-high rents. They thought they could profit from the rape of the dollar, and now they get destroyed. You put all in one basket, and borrow to much, this is what happens. I think it is good, and hope it happens a lot more. Some lessons need to be painful. I'm rooting for more pain. Nobody forced them to make the choices they did. I feel more sorry for so many in the working class who earn less and less every year as the fake dollars their wages are paid in go down the drain, a working class that won't get the same pensions or even relative value of pay that the same workers in the past received.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  9. #29

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    Quote Originally Posted by motocat View Post
    Can't say I feel sorry for them. They bought overvalued property, as allowed by artificially low interest rates created by the fed to give the illusion of wealth. In short, they thought profiting from sin (usury) would have no consequences, and probably also expected finding suckers of tenants who would pay sky-high rents. They thought they could profit from the rape of the dollar, and now they get destroyed. You put all in one basket, and borrow to much, this is what happens. I think it is good, and hope it happens a lot more. Some lessons need to be painful. I'm rooting for more pain. Nobody forced them to make the choices they did. I feel more sorry for so many in the working class who earn less and less every year as the fake dollars their wages are paid in go down the drain, a working class that won't get the same pensions or even relative value of pay that the same workers in the past received.
    You're actually incorrect on just about all of your assumptions you've made about them. I could make some assumptions about your poor working class folks but I won't be a dooshbag about it.

  10. #30

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    Quote Originally Posted by motocat View Post
    Can't say I feel sorry for them. They bought overvalued property, as allowed by artificially low interest rates created by the fed to give the illusion of wealth. In short, they thought profiting from sin (usury) would have no consequences, and probably also expected finding suckers of tenants who would pay sky-high rents. They thought they could profit from the rape of the dollar, and now they get destroyed. You put all in one basket, and borrow to much, this is what happens. I think it is good, and hope it happens a lot more. Some lessons need to be painful. I'm rooting for more pain. Nobody forced them to make the choices they did. I feel more sorry for so many in the working class who earn less and less every year as the fake dollars their wages are paid in go down the drain, a working class that won't get the same pensions or even relative value of pay that the same workers in the past received.
    that is a bold accusation moto. my rental property is a full time business. i poured blood, sweat and tears into my portfolio for 39 years. i didnt buy overpriced properties and those i did were removed from my portfolio over a decade ago. i personally have not been affected YET from tenants not paying their contractually agreed rent payments. neither have i stopped upholding my end of the agreements to them. they live in my properties and expect the terms of the lease to be fulfilled. i expect the same in the form of monthly payments. when the government takes that away without proper resolve, there goes my paychecks for all the work i performed and still perform to upkeep the properties. you should retract your statement because you certainly do not know those landlords spoken of nor their story/history. taking away the requirement of the lease by tenant without supplimenting the payment to the landlord is WRONG! the property taxing authority/mortgage holder/insurance company/utilities, etc., etc. dont put a stop on their servicing. rents are used for those purposes FIRST, then overage as a form of work payment goes to landlords. please retract or restate. if you know the names and the historys of the aforementioned landlords then nevermind. i sincerely doubt, however, you know anything about them or their circumstances.

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