Excellent post (and thank you). I fear for any individual trying to sell in Round Rock. I have never, never seen anything like that in my life. Already congested and new-build site after new-build site. Many built to support an Amazon warehouse project that got cancelled. Not good.
Tampa is high priced now because many people are fleeing NYC and other big cities. It's a strange time with people imagining Florida to be well run. It does have good protection for people going bankrupt, do that might motivate some ... Look, a bird!
Great article! When it comes to Blackstone everyone talks about Breit. I have noticed 1 company that Bx bought in 2018 that has come under a lot of stress. Packers Sanitation Services Inc got busted and fined for using child labor. PSSI has been laying off in many states if you look at the Warn Notices. If BX isn’t being totally truthful about their real estate, then one could assume they are not being totally honest about their private equity investments like PSSI either.
That guy trying to sell his $407K house to reduce his debt and buys a $470k house? Obviously based on a notion that he can get €700k for the first house. Are these the people in the queue to run our businesses or our country. THIS is the promise of the next generation? Boy the trouble runs deep.
Seems that guy is at least trying to get into a more manageable situation which is a prudent business decision. Probably not going about it the best way in terms of sequence of events but this is more than I can say about 99% of politicians who care nothing about what our kids will inherit long after we're gone.
Yes I appreciate that alright (and my comment may be too harsh :-) but it seems he made assumptions which he could have tested (like ask an estate agent to value his house). Or wait until he sold before he commits to more debt. But I’m particularly risk adverse when it comes to the roof over my head.
CRE notes: in the example of rents dropping 50%, it’s even worse than it sounds due to operating leverage, ie, fixed expenses like taxes insurance etc. The old rule of thumb was around 60% occupancy was breakeven. Also, guessing the Fed “regulators” have loosened every rule imaginable to keep banks from having to classify assets as non-performing. More charades to try to stabilize the house of cards
Excellent post (and thank you). I fear for any individual trying to sell in Round Rock. I have never, never seen anything like that in my life. Already congested and new-build site after new-build site. Many built to support an Amazon warehouse project that got cancelled. Not good.
Tampa is high priced now because many people are fleeing NYC and other big cities. It's a strange time with people imagining Florida to be well run. It does have good protection for people going bankrupt, do that might motivate some ... Look, a bird!
Great article! When it comes to Blackstone everyone talks about Breit. I have noticed 1 company that Bx bought in 2018 that has come under a lot of stress. Packers Sanitation Services Inc got busted and fined for using child labor. PSSI has been laying off in many states if you look at the Warn Notices. If BX isn’t being totally truthful about their real estate, then one could assume they are not being totally honest about their private equity investments like PSSI either.
That guy trying to sell his $407K house to reduce his debt and buys a $470k house? Obviously based on a notion that he can get €700k for the first house. Are these the people in the queue to run our businesses or our country. THIS is the promise of the next generation? Boy the trouble runs deep.
Seems that guy is at least trying to get into a more manageable situation which is a prudent business decision. Probably not going about it the best way in terms of sequence of events but this is more than I can say about 99% of politicians who care nothing about what our kids will inherit long after we're gone.
Yes I appreciate that alright (and my comment may be too harsh :-) but it seems he made assumptions which he could have tested (like ask an estate agent to value his house). Or wait until he sold before he commits to more debt. But I’m particularly risk adverse when it comes to the roof over my head.
CRE notes: in the example of rents dropping 50%, it’s even worse than it sounds due to operating leverage, ie, fixed expenses like taxes insurance etc. The old rule of thumb was around 60% occupancy was breakeven. Also, guessing the Fed “regulators” have loosened every rule imaginable to keep banks from having to classify assets as non-performing. More charades to try to stabilize the house of cards
Are all those FED employees ones that Trump said he'd fire if elected?
These are so good- made an already fine day!
Wow Rudy you sir are like a sommelier of good music . Thank you for turning me on to James McMurtry love that sound.
That's actually Ramsay Midwood. The youtube pic is wrong for some reason:)
The average Fed salaries in the $300s are more distressing than the techie salaries in the higher $300s
What on earth were you doing in Wytheville? I live in Stanardsville, Va. in the foothills. We don't have a bar like that.
What on earth were you doing in Wytheville? I live in Stanardsville, Va. in the foothills. We don't have a bar like that.