FEDIT POLITICS Thread

Welp .... I'm only surprised that the total isn't over 5 million yet.

https://www.usatoday.com/story/news...le-good-gofundme-campaign-closed/88117213007/

 

Explain to me like I'm 5 if this is possible?

President Trump this week took to social media to signal a shift in the national conversation about housing, announcing plans to ban big investors from buying single-family homes.

It’s about time.

almost 5 percent of homes were being purchased by institutional buyers. In cities like Atlanta, Jacksonville, Tampa and Charlotte, institutional investors own more than 15 percent of rental homes.

Imagine that — the average American family competing in the housing market against multibillion-dollar private equity firms and tech-enabled real estate platforms. It isn’t exactly a fair fight; it’s a David versus Goliath match where Goliath has better algorithms and deeper pockets. I have wondered over the past several years how we have seen almost a fivefold increase in interest rates and a global pandemic without an adverse downward effect on real estate prices or even the economy.

Rather, real estate prices have actually increased by almost 55 percent over the past five years. How is this possible? Where are the economic slumps that make things more affordable for all of us? Many Americans are locked out of homeownership as a result of high prices.

The economy is actually very tenuously balanced where small changes in things like inflation and interest rates typically toggle massive effects in economic indicators like job creation and real gross domestic product. Despite the economy of the world being largely closed for more than a year during the COVID pandemic, these economic indicators have held up fairly well.

As a product of the early 1970s, I have followed the economy as both a matter of hobby and the practical expedient of being an entrepreneur. I lived through the late 1970s when Jimmy Carter was president and high inflation and interest rates stalled the economy.

But now suppose you have a small group of people who have enough cash to stave off these effects and wait as they keep buying. Their plan is actually simple, and it is not new. John D. Rockefeller did the same thing in the oil business. Joseph Kennedy and others did it in the 1920s in equities.

Milton Friedman, a leading apostle of capitalism, and being impressed by his logic and reasoning about the approximate perfectionism of capitalism. Now, as someone who has been around for a while and has been on the real battlefront as an entrepreneur, I realize he missed one crucial thing: The efforts of a very few well-organized, greedy people can compromise the free enterprise system generally and the dreams and possibilities of the middle class specifically. Greed is not good. Greed is bad. It is a perverted and adulterated extension of something good — the “free” market.

Greed is like any bad thing — it does not exist on its own but grows out of something good. It accumulates wealth and power for the few and eventually kills off the free market system that allows it to operate. Adam Smith himself understood this, and that capitalism required morality to effectively endure. The basement capitalists of today are the people who operate outside of the light of day. They don’t want to compete. They don’t care about people. They want to control.

What does this mean? The same thing it meant 100 years ago. Teddy Roosevelt and his successor, William Taft, understood the nature of these people — they will always gravitate toward greed and making money to the detriment of the many. They must be defeated through government intervention that levels the playing field — before it is too late. The level of business ownership has dropped precipitously. Now, these people are going after our homes. They must be thwarted to preserve and defend the American Dream.

 

Props on this post, bro. Too bad you're white & therefore irrelevant...

Seriously, unless you bought a home in the late 80s, mid 90s, or late 00s, California was always overpriced. Leaving SoCal for the middle states makes that clear.

You'd thrive in TX, TN, KY, FL, or anywhere save IL, NY, HI, or MA. Homes in 40+ states cost a 1/3 to 3/4 cheaper than there.

 

great article w great questions i wish i knew the answer to
the entire covid economy made no sense and my constant financial instruction to my kids has left them prepared but waiting for something reasonable in a shift
i can tell you the things i know for certain and that begins w how the government as a whole looks at you in this state changes as you achieve success
building any kind of wealth in property, securities etc. is suddenly different at some point and i don't know exactly what it is
maybe its after you make your first million maybe its just when they happen to notice you're paying in enough taxes that there has to be more to collect
the laws that were created to monitor the small banks truly changed everything during obammys tour
used to be community business banks that took more than numbers into consideration and those were decimated never to return
i recall a group of bankers investors i had become very close w at a bank called Western Commercial having me in in late 08 to explain where i was at
they had always trusted in me and were now facing a suffocating set of rules that forced them to break me down as well
it wasn't enough that i was still making my commitments and as i explained the lair, massage and other business i was attempting to create i noticed one of the ladies w tear in her eyes
she was a vp and it was like her face was letting me know how much she knew i had it in me and also how it didn't matter at the same time cause that time was over
instead of making it easier for people to employ and create business this was now going to be the opposite of that
soon after WCB was gone and my mortgage was passed on to a heartless cold nearly government run bank that set up hurdles that would take most people down
i knew they wanted me to sell or give up because they practically laughed and said it to my face
that time was the worst of my life and i felt like i had become a criminal for having the audacity to think i could have a commercial building
even bringing that check in monthly to that bank i felt the derision as the actual tellers looked down on me and openly asked how long i could hold on
my personal story aside it seems like the communists and the capitalists converged in that moment looking back
laws were created that only allow a select few in the club and created these groups of capitalists sweeping in to devour others misfortunes
it would seem that the same has been occurring for a while now in residential and the only thing allowing people to hold on are the low interest rate many were able to grab
DJT's move would seem to be worthwhile since something has to be done and yet i don't see exactly how since the rules only apply to those who follow them
i do know institutional investors buying property are going to need at least 6-7% return (laststat?) or they'll likely begin divesting themselves of properties
at least that's what i tell my kids and the truth is its anyones guess when it comes down to it
just recently got rid of my only rental property because of the HOA, frightening renters rights and the skyrocketing fire insurance living off a canyon was too much
there isn't some panacea and hard work isn't enough anymore since grinning commies are promising that warm smell of rotting collectivism as if it hasn't already been happening
as one of my mentors always used to say "hang in there"
always hated that

 

So ... did one of you Maoist twats drive a UHaul into an LA rally today?

https://www.foxnews.com/us/driver-a...through-crowd-during-iran-protest-los-angeles

 

Another actor whose work I admire very much, but I wouldn't piss on him if he were on fire.

 

POTY