• 2 Posts
  • 57 Comments
Joined 1 year ago
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Cake day: July 4th, 2023

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  • “You better hire another negotiator within 48 hours, and fire this clinical idiot who values Americans’ bank secrecy at $50,000,” the LockBit post said

    My friend, you don’t want the Federal Reserve to be mad at you. They’re offering a low price because the alternative is that you spend 20 years in a federal prison.

    You’re lucky they’re embarrassed about the hack. I’m surprised they’re offering anything besides, “Turn yourself in and we won’t yank you out of your house in Bulgaria in the middle of the night”.








  • Supply of homes is not dynamic like a factory, it can’t respond quickly to prices. Investors will grumble about whatever they want, but the alternative is a time consuming and expensive sale.

    Even then those homes don’t disappear . If they are removed from the rental market they will just end up sold to the very group of people who were renting them, thus reducing demand. Rents would not move much, although there will probably be more real estate sales than usual as the rental market sheds the lazier real estate investors.





  • You might not know this, but a mortgage being higher than the rent isn’t abnormal. In the past, when interest rates were 8% and rents were lower, you lost money on a rental property for the first few years. Property is not a license to print money. It’s an investment with costs and payoffs.

    The property owner can pay off the mortgage early with the money. Or they can buy another place to rent out. Or diversify into other kinds of investments. No one is banned from anything.






  • These are good points, but you say that you don’t rent anything out. Anyone who owns property in an LLC with another person deals with issues like this. They are not insurmountable.

    Yes, this would make lots of small landlords think twice about renting their property out. That’s actually a good thing because they could either sell or let family stay there for free.

    The point is to make people who don’t want to deal with the hassle sell. People like you wouldn’t be affected.