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spdrun
ParticipantFrankly, the world might need a collapse to set things back a few decades. Right now, the trend is to more control, more automation, more surveillance. It would be good if innovation was stopped in its tracks (or at least slowed down) for a few decades so we had time to think where society is going, and whether we want it to go there. Delay the Singularity, so to speak.
If it results in some level of mayhem, so be it.
spdrun
ParticipantThe costs of running the same would also drop in a deflationary environment. Some bondholders will be given haircuts — not the end of the world.
spdrun
ParticipantAs a deflationista, shouldn’t you be against higher wages and for lower prices? i.e. more of an “end the Fed” sort of gal?
spdrun
ParticipantYou have a axe to grind with investors, because they have squeezed inventory and forced up prices, yes?
Axe to grind? No. They haven’t forced prices up in suburban NYC area much, where I’m looking now and hope to buy this winter. Delayed judicial foreclosures are awesome, and here’s to Chris Christie and two more years of mismanagement in NJ!
I actually LIKE people who are unwilling to get their hands dirty or are mechanically challenged, though I’m also contemptuous of them. More of a chance of them getting in over their heads, running out of money, and my seeing their properties at the fork-loser auction or being nudged into short sale 🙂 I don’t care if they’re willing, unwilling, or barely willing investors.
Same deal as with cars or motorcycles, BTW. A few years ago, I saw an ad for a nice bike, non-running, offered for about 50% of the price it would be in running condition. Owner said that he’d cleaned the carbs, couldn’t get the bike to start, and was throwing in the towel.
Went there to look at the bike, was interested. Paid him his asking price, signed over the title, then came back with a plate. Rode it home — problem was that he’d forgotten to re-connect the vac line for the fuel valve to the nipple on the valve. 30 second fix. (But I was fully prepared to rent a truck if it didn’t work and bike still didn’t start.)
Rode that bike for a few years, then sold it for about 250% of what I paid. Free motorcycle and then some!
spdrun
ParticipantShe copped to felony stalking, so she’s now a convicted felon with all that that status entails. Agreed that house arrest is a bit lame.
spdrun
ParticipantNot doing as much as you think — only have a couple so far.
Honestly, my goal is to at least be able to sit and not have to lift a G-d damned pinky as far as buying or working (renovating is fine because it’s fun), not to slave away till I’m old, limp-dicked, and crippled.
If I end up making $100k per year from investments, essentially indexed for inflation, what more do I need? I don’t have expensive or refined tastes. I travel more like a student, haven’t bought new electronics in years, and have never spent over $3 grand on a car.
As far as the waistline thing, it’s actually a consequence of lack of time between white collar workers. No time to cook healthy food or buy a good lunch. No time to go for a walk in the park with family after hours. No time to visit a national park on one’s vacation, because they only take a week.
France is looking awfully good, even after recent unfortunate events there.
spdrun
ParticipantIt’s very good for the economy that people should take deliberate action to invest their money. They shouldn’t just be able to hold the money and earn a return above inflation.
You mean like putting it in an index fund and getting BS Bernanke bucks back? Isn’t that essentially what happened from 2009 through last year?
I don’t think returns above inflation should be earned, but money should hold its value. People should be able to work intermittently or less than our society’s idea of full hours, recline, occasionally do nothing.
If that slows down the pace of innovation, so be it. We have a few billion more years left before the sun implodes 🙂
spdrun
ParticipantGenerally interest rates < inflation rate, so that doesn't really work well.
spdrun
ParticipantFurther, the consequences of an unwatched worker can be much more expensive and time-consuming. Give you an example of someone whom I know who had quite a few rentals. They hired someone to put new kitchen tile down — well, that someone cleaned off the old linoleum glue with a flammable solvent with the windows closed. That night, heat kicked in. BAM! No more windows.
spdrun
ParticipantReally? And how is it you arrive at that conclusion?
Mechanical idiots who can’t be arsed to educate themselves typically get taken advantage of by tradesmen. And kudos to the tradesmen — if they can eat off the backs of clueless loser “investors”, more power to them.
spdrun
ParticipantChoose your tenants very carefully. I would never rent to someone without meeting them in person.
Buy condos where external mx is taken care of by the HOA.
Fix anything that’s likely to break in the next few years during the period of vacancy.
spdrun
ParticipantIt’s not “idle” if it’s being invested, either directly or indirectly. Even if it’s kept in a savings account, the bank gets to loan out multiples of this money.
Nothing wrong with “idleness.” Water before a hydroelectric dam is also idle. Theoretically, you don’t need such a big lake, so long as the height of the water column is tall enough. But it comes in really handy when there’s a drought.
Same with money. If people hold it, they can get through a recession (or voluntary period without work) much better. The notion that everyone should be working 50 weeks a year from age 21 to 67 is idiotic.
spdrun
ParticipantIt’s not much of a challenge to find 6+% cash-on-cash in the US, as long as you don’t let fripperies like paying some parasites 8% of your income for management fees or paying some incompetent to maintain what you can do yourself eat into your bottom line.
If you’re a wimp who can’t handle tools and tenants on his/her own, you shouldn’t be buying rentals.
spdrun
ParticipantSorry, I thought you were looking in SD. For 500k in SF one would likely be better off buying a home in an emerging area like Hunters Point.
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