i bet ned is feverishly getting to the bottom of how Trump increased his wealth so ludicrously after entering the WH for his second term...
The economy
- Thread starter Rastafarian
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I'm confused how that is any different than it is now?
What I see now is you have an extreme portion of the party and the candidate gets almost all of that wing's vote. The other we'll say 70% are split amongst 7 candidates, and the leader even varies from state to state, whereas the extreme candidate wins that wing in every state. It is the reason that Bernie hung in there against Hillary for so long, and was what had Trump do so well in his first campaign (I voted for Rubio funny enough). With ranked vote, while the top choice would still be split amongst the 7 candidates, many of them wouldn't have the extreme candidate on their ballot. At the end of the day I believe you'd end up with candidates that better represent the majority of people voting in that primary.
I mean, I agree, why I like ranked choice. Should help each party end up with a candidate that represents the largest amount of people in that party as possible.
That isn’t a crazy notion. I am in real estate and know lots of people who own 5 rental homes. I have a friend that owns 100s, he is a huge Clemson fan. I wouldn’t classify him as an institutional investor.
RCV allows the minority party to remove the majority party's strongest candidate by doing backroom deals with the majority party. RCV is how Lisa Murkowski kept her senate seat in Alaska even though she had less support among Republicans. RCV is like NIL. Sounds good on paper but turns into s h I t in reality.
I'm not an institutional investor and I've owned 5 homes for rent. Rental properties are great investments.
Tboone, maybe it's you who might be out of touch
This is the type of rage bait tweet spin you criticize growls and others for. He’s not referring to all normal families as the post says. He’s categorizing those who own a small rental portfolio into “mom and pop,” which is very common nomenclature for small family-run businesses.
But you’re smart enough to know this and posted anyways.
It’s exactly the right policy btw. Block the big corporations, but allow families and small LLCs to own reasonably sized real estate portfolios.
This is quite common. I own 7 rentals now and had as many as 21 doors at one point. One of my best friends dad owns a bunch he will inherit. I have numerous other friends with decent to large rental portfolios. Bessent is correct to differentiate this from Blackrock, which is the point of his comments.
Not me attacking you so don't take it that way. I also own ~5 rental properties.
But aren't you (and me) the people that are being targeted? I don't think they are solely targeting the Blackrocks of the world. I think they don't like that people like us can own multiple properties. They think our ownership of those houses is taking away the opportunity for others to be housed.
I think someone with 20 doors is well within their target. Am i wrong?
Bessent said “5, 10, 12” and seemed like that number would keep going in the interview. And I suspect some of that is positioning as vocalizing 25-50 properties doesn’t have the same effect. So I think 20 would be fine, and possibly quite a bit more.
I’ve posted before, but the reality is there will always be a class of people who must rent, and therefore there has to be a sufficient number of landlords. Most of my renters couldn’t get a mortgage, pay a down payment or generally be responsible enough to own and maintain a home. They can’t force out too high a % of landlords, at least in certain class properties.
I imagine the final product will still leave quite a bit of room for individual or small LLC property ownership. I’m planning to sell everything this year, but even if I wasn’t, I wouldn’t be that worried.
I agree with your last statement if Republicans are in charge. However, if Democrats were to implement the policy i think they may take it much further.
I always wondered how they would differentiate between the Mom and Pops and the BlackRock's. It will be interesting to see how the policy is implemented.
I think this policy is severely misguided and will be incredibly difficult to enforce. Institutional investors make up about 1-3% of the market. This is not causing housing to be unaffordable. It is local zoning laws and utility impact fees.
Economy seemingly resillient.
Low inflation and good growth. Tariffs did not have the effect the naysayers said they would.
Low inflation and good growth. Tariffs did not have the effect the naysayers said they would.
fatpiggy..the numbers are great, but to large portion of the American population they are meaningless. They only see that the amount of money they have at the beginning of the month doesn't last to the end of the month.
People that want to buy homes are priced out, cost is a new car, cost of car repairs are putting people out of the market.
Trump admin has a lot more work to do
my overarching point still stands regarding the total lack of relatability for 90% of Americans and general detachment from everyday reality that this clown show of a cabinet and its senile doofus leader display on a daily basis. the "grandma doesn't need a Christmas present/be happy with eating broccoli" talking points are right in line with Trump's "affordability is a made-up concept by the Dems" spiel that permeates this wack pack.
i did get a chuckle out of you popping up for another humble brag, tho. i admit i laughed.
I would say it’s much more than 10% of the population who could buy a house for investment purposes. The barrier is not very high. I would say 50% at least.my overarching point still stands regarding the total lack of relatability for 90% of Americans and general detachment from everyday reality that this clown show of a cabinet and its senile doofus leader display on a daily basis. the "grandma doesn't need a Christmas present/be happy with eating broccoli" talking points are right in line with Trump's "affordability is a made-up concept by the Dems" spiel that permeates this wack pack.
i did get a chuckle out of you popping up for another humble brag, tho. i admit i laughed.
personally, I think the
To be fair, roughly 60-70% of the US population lives paycheck to paycheck, so saving up enough for a down payment is pretty difficult for over half the country. Let alone even qualifying for a mortgage loan, like scotch mentioned earlier itt.
That many might actually be doing that, but I have read it’s really around 30% that truly live that way. A good portion of our population don’t know how to budget
you might well be right in your numbers. Have you ever watch YouTube videos about college grads talking about student loans or segments on dumbest financial decisions? Talk about depressing. The lack of financial knowledge among a large segment of our population is staggering.
I know this is anecdotal, so don't come after me with daggers out, but some segments about not being able to make ends meet, come with questions about how often do you buy Starbucks - couple of time a day: what mobile phone - upgrade every year: nails and hair done: what year car: how often do you go to a bar??
again anecdotal, but some people really don't understand where their money goes and how much they could save with just some minor (to me) lifestyle changes.
There was one young woman, college graduate, with student loans, co-signed by her grandmother, hasn't made payments, bank went to grandmother, young woman thinks it's unfair that bank would want grandmother to pay for her student loans.....duh
And yet your generation raised millennials (their children) to be whatever they wanted to be, to live the life they deserve to live that the boomers couldn't, that if they believed in themselves enough and worked hard enough they could achieve everything they wanted.
Your generation reveled in and created consumerism and sold it to us. Your generation told your children that everything we could ever want was at our finger tips, and then made it happen. You gave us "Friday night delivery pizza nights" and told us if we went to college we would be able to afford that and more. You told us if we got a degree and worked hard we would never worry about money.
None of those things happened.
Now you're mad that you created all this s h it and we think we should be able to achieve it, but we're too poor to do so. You gave us a vision and now are mad at us for wanting it to become reality, and its out of our grasp.
Millenials have come to grips that we were sold a lie. We know the false bill of goods you sold us. But unfortunately its so ingrained in american culture that now its antithetical to how we were raised/wired to reject those things. So we indulge, because you told us to expect it.
It will take the next few generations to rebound from the lies your generation told us.
well personally, my offspring and grandchildren are doing great....public school educations, more than one home, great jobs, growing savings accounts and looking forward to 7 figure inheritances. So not everybody in your generation is in the position you describe.
On consumerism, no one from my generation (I'm not a boomer by the way, the boomers are after me) is forcing anyone to buy luxury cars, take out $100,000 or more student loans, or even buy a pizza on Friday or any day of the week. No one in the boomer generation is forcing anybody to buy the newest iphone, luxury cars or whatever. Can't afford it, don't buy it. Seems pretty simple to me.
I'm not mad. I learned a long time ago that there are things in life I cannot control. So, I don't try to control them and I don't let those things - like Trump's verbiage - upset me. My philosophy has become take care of my wife and my family. I make sure that's first and then I can make decisions on where to "give back". And I'm in a position to give back generously. But I chose where my money goes and right now it goes to tunnel to towers and wounded warriors.
Personal responsibility.....can blame another person or generation for your situation. I learned in OCS that as an officer you are responsible for everything your unit does or fails to do. And this has been what forms the basis of my life. Don't like something, don't do it. Unhappy with your lot in life, change it. Don't have enough money to buy what you want, get a second job, my father did, I did. I don't know why anybody would want to be poor and not do something about it. My first job was Private E-1 in the Army....that opportunity is still available today...3 hots and a cot, college education, retirement, life skills, medical, dental etc.
So sorry, I don't know or understand your position in life, but it certainly is not my fault or an entire generation's fault. Victimization will only get you so far in life and will likely keep you from success.
I don't feel victimized. You're projecting that, in the same way you think our generation spends superfulously and thinks we're entitled to do so, we think your generation set up your kids and grandkids to expect it.
We're all past that now. We all realize that- it's time to move on; that was my point.
Everyone that drives is seeing improvement unless they are stupid. Gas alone is a great improvement over what it was with democrats.
President Trump is working to generate more improvement though.
my overarching point still stands regarding the total lack of relatability for 90% of Americans and general detachment from everyday reality that this clown show of a cabinet and its senile doofus leader display on a daily basis. the "grandma doesn't need a Christmas present/be happy with eating broccoli" talking points are right in line with Trump's "affordability is a made-up concept by the Dems" spiel that permeates this wack pack.
i did get a chuckle out of you popping up for another humble brag, tho. i admit i laughed.
It’s okay to set the tribalism aside for a moment and recognize good policy. Stopping massive corporations from buying up single family homes without infringing on individual investors is good policy. I haven’t seen polling, but I suspect it will be wildly popular.
And this is relatable to more than 10% of the population. I’m struggling to think of one person I know who couldn’t relate to it, whether that’s from friends, family or general awareness of real estate investing.
And yes, I often use personal examples to make concepts relatable.
Stopping massive corporations from buying up single homes is a 99/1 position. We all agree.
However, every single upper middle class family I'm friends with (in our same town), doesn't live paycheck to paycheck, but also isn't able to have the equity/ability to afford multiple properties, even to rent out.
That's the point.
Holy sour grapes. I’m a millennial too. But I’m not bitter about anything my boomer parents “sold” me.
And you probably should clarify your statement. “None of those things happened,” for you perhaps. Others of us have taken that boomer raising and are enjoying what we were sold and more.
As a boomer, we were very fortunate for the commercial and leadership concessions derived from WW II. The significance and trust placed on the USD for the reserve currency for international commerce can not be over stated. Issues raised that the US is being treated unfairly never seem to acknowledge this side of the equation.
The Bretton Woods Agreement was a landmark economic agreement signed in July 1944 by 44 Allied nations to establish a new international monetary system after World War II. It aimed to promote exchange rate stability, encourage global trade, and prevent competitive currency devaluations. The system pegged major currencies to the U.S. dollar, which was in turn convertible to gold at a fixed rate of $35 per ounce. The agreement also led to the creation of the International Monetary Fund (IMF) and the World Bank.
And then Nixon took the gold peg away creating a full fiat currency for the political hen house.
The financial crisis of 2008 was an ant hill compared to the **** storm on the horizon with the 38 trillion in national debt and unconstrained spending, without even getting into consumer debt.
