This market has spawned the worst conglomeration of real estate investing ideas of all time: buyinh a house for AirBNB as an investment (a single family hotel business), single family investment funds(all the expense of individual houses rather than multifamily attached units, with at best similar rents--this could be the worst), and of course Whee Work (a defensive concept developed by owners of empty buildings in the last downturn when there were no normal tenants to be found--then abandoned as soon as possible thereafter). The pain has only begun...
“The Bank of Ghana targets inflation of 8% with a margin of error of 2 percentage points in either direction.
‘More interesting perhaps is the context in which the announcement was made – a new IMF programme and an agreement between the central bank and the ministry of finance to prohibit monetisation of the deficit, which is positive for the credibility of monetary policy.’”
"When the world around the IMF goes downhill, we thrive. We become extremely active because we lend money, we earn interest and charges and all the rest of it, and the institution does well."
"Oh yeah"....and "This bubble makes the 2006 peak look sane by comparison. I really cannot express how ridiculously overvalued these places are. A 75% drop could still leave houses overpriced in some areas, based upon wages and current interest rates." Absolutely. If I could post some of the pics from outside of Las Vegas here I sure would.
The AirBnB yuppies are a sad reflection of what seems to be the value system currently in vogue - the quest for ‘easy money’ and to hell with everyone else. I get the primal drive - no doubt sufficient wealth makes life easier and brings a sense of security - but what is sufficient these days? Maybe if our system were less punishing for ‘losers’ people could afford to be less ‘greedy’ (I mean ‘losers’ in reference to the ordinary person who just wants a home and to be able to provide for family and retirement). https://youtu.be/92cwKCU8Z5c
Buying a home in NV is no different than the gambling of paychecks in Vegas. THEY'RE RUNNING OUT OF WATER!! It reminds me of the Sam Kinison bit about the people starving in Africa. "MOVE!!!!"
I'm just saddened that almost the entire country has been infected by the financialization of housing. Years of ZIRP did this. QE and insane MBS monetization did this. This is on the Fed.
This market has spawned the worst conglomeration of real estate investing ideas of all time: buyinh a house for AirBNB as an investment (a single family hotel business), single family investment funds(all the expense of individual houses rather than multifamily attached units, with at best similar rents--this could be the worst), and of course Whee Work (a defensive concept developed by owners of empty buildings in the last downturn when there were no normal tenants to be found--then abandoned as soon as possible thereafter). The pain has only begun...
“The Bank of Ghana targets inflation of 8% with a margin of error of 2 percentage points in either direction.
‘More interesting perhaps is the context in which the announcement was made – a new IMF programme and an agreement between the central bank and the ministry of finance to prohibit monetisation of the deficit, which is positive for the credibility of monetary policy.’”
Another job for the future frontline narrator?
"When the world around the IMF goes downhill, we thrive. We become extremely active because we lend money, we earn interest and charges and all the rest of it, and the institution does well."
- Christine Lagarde, IMF Managing Director, 2012
https://knowledge.wharton.upenn.edu/podcast/knowledge-at-wharton-podcast/christine-lagarde-emerging-market-nations-will-get-more-power-in-the-imf/
"Oh yeah"....and "This bubble makes the 2006 peak look sane by comparison. I really cannot express how ridiculously overvalued these places are. A 75% drop could still leave houses overpriced in some areas, based upon wages and current interest rates." Absolutely. If I could post some of the pics from outside of Las Vegas here I sure would.
The AirBnB yuppies are a sad reflection of what seems to be the value system currently in vogue - the quest for ‘easy money’ and to hell with everyone else. I get the primal drive - no doubt sufficient wealth makes life easier and brings a sense of security - but what is sufficient these days? Maybe if our system were less punishing for ‘losers’ people could afford to be less ‘greedy’ (I mean ‘losers’ in reference to the ordinary person who just wants a home and to be able to provide for family and retirement). https://youtu.be/92cwKCU8Z5c
Buying a home in NV is no different than the gambling of paychecks in Vegas. THEY'RE RUNNING OUT OF WATER!! It reminds me of the Sam Kinison bit about the people starving in Africa. "MOVE!!!!"
I'm just saddened that almost the entire country has been infected by the financialization of housing. Years of ZIRP did this. QE and insane MBS monetization did this. This is on the Fed.