Great opening quote. Imagine the frustration of a life if one is never satisfied. To be blessed with the wisdom of those who know when they have enough - and if the ‘successful’ are lucky enough to have accumulated more than they need, reap the joys of ‘reinvesting’ it for the benefit of others who don’t - giving ‘hands up’ not ‘hand outs’ - it seems to joy of helping others is under promoted. Maybe the infamous ‘Charitable Foundations’ a la Gates and Clinton have contaminated the space.
I have a son managing apartment leases in a major city, the employer is a division of a national home builder that has structured over $10B to be used in developing new subdivisions that will be 100% leased units. Supposedly the future and, like so many other things, a complete paradigm societal change to how we live our lives, that subdivision was the anchor of the community and daily routine for so many things 50 years ago. Another son in his 30's makes good money but looks at his cash flow and how long it would take to build the savings for buying a house, and decides it's better to spend today - has seen more of the world than me in half the lifetime, seems happy. I expect generational changes but these aren't at the margin, they seem to be more substantial, humanity level that will alter the very concept of daily living and interaction and I don't pretend to know the long term impact.
Young new father at local grocery store remarked how he's on some sort of SF renters waiting list for decent living, but every time they give him one it's in a bad area. The stress this places on the younger generations is not to be overlooked, they will be bitter, and who knows if that will be channeled against the proper people or not.
Love your work! As a Multifamily developer I can tell you that our world has turned upside down incredibly quickly. New deals don’t pencil even if land was free, which obviously it isn’t. Markets are somewhat frozen as participants are waiting on price discovery; however, most will not like the new prices they discover!
Great stuff as usual Rudy, my dad even read your last one and liked it the one about value managers.
Great stuff as usual Rudy, my dad even read your last one and liked it the one about value managers.
Fantastic! And thank you :)
Great opening quote. Imagine the frustration of a life if one is never satisfied. To be blessed with the wisdom of those who know when they have enough - and if the ‘successful’ are lucky enough to have accumulated more than they need, reap the joys of ‘reinvesting’ it for the benefit of others who don’t - giving ‘hands up’ not ‘hand outs’ - it seems to joy of helping others is under promoted. Maybe the infamous ‘Charitable Foundations’ a la Gates and Clinton have contaminated the space.
I have a son managing apartment leases in a major city, the employer is a division of a national home builder that has structured over $10B to be used in developing new subdivisions that will be 100% leased units. Supposedly the future and, like so many other things, a complete paradigm societal change to how we live our lives, that subdivision was the anchor of the community and daily routine for so many things 50 years ago. Another son in his 30's makes good money but looks at his cash flow and how long it would take to build the savings for buying a house, and decides it's better to spend today - has seen more of the world than me in half the lifetime, seems happy. I expect generational changes but these aren't at the margin, they seem to be more substantial, humanity level that will alter the very concept of daily living and interaction and I don't pretend to know the long term impact.
Well said.
“That’s some catch, that Catch-22.” “Best there is.”
Young new father at local grocery store remarked how he's on some sort of SF renters waiting list for decent living, but every time they give him one it's in a bad area. The stress this places on the younger generations is not to be overlooked, they will be bitter, and who knows if that will be channeled against the proper people or not.
Love your work! As a Multifamily developer I can tell you that our world has turned upside down incredibly quickly. New deals don’t pencil even if land was free, which obviously it isn’t. Markets are somewhat frozen as participants are waiting on price discovery; however, most will not like the new prices they discover!
Thank you!
Can't. Moving to Montana. Floss won't wait.
I subscribe to a lot of stuff, and according to my iPad, I spend a LOT of time reading every day/week.
Yours and Jim Grant’s is what I actually look forward to.
It’s a wonderful obligation. You know you can’t buzz through.
The Clash were right. Rudy never fails. https://youtu.be/YuS698b0ess