Nothus posted:

Home prices are the central, load-bearing scam of our country. Cheap homes are an existential threat.

i am harry posted:

we don’t need to loosen land restrictions we just need denser housing built to house people rather than extract wealth from them

fits my needs posted:

https://twitter.com/CBSMornings/status/1650489193271795712?s=20

gradenko_2000 posted:

I remember reading David Ricardo in what must have been 2018 and coming to the conclusion that if one were running a business, that you would have to treat your [dead] capital as an amortized, on-going expense from day 1, with the intent of having it "paid back" by the time the warranty runs out, or by the time you expect the thing to break

…

you could diversify by making more than just the one product, but same thing - the inescapable logic is that everyone who will ever want your product will already have it, and then what?

and I know that what I'm essentially describing is The Tendency for the Rate of Profit to Fall, and in turn explains the capitalist logic of planned obsolescence and the conversion of everything into X As A Service, but like... and then what???

i am harry posted:

we don’t need to loosen land restrictions we just need denser housing built to house people rather than extract wealth from them

Taima posted:

Hoot going crazy was not on my bingo card.

Twerk from Home posted:

These are the same things, density is limited by land use regulations. Death to zoning, death to minimum setbacks.

RadiRoot posted:

RadiRoot posted:

Mola Yam posted:

Pittsburgh Fentanyl Cloud posted:

Wellstar bought one of two trauma centers in Atlanta proper specifically so they could shut it down and sell the valuable real estate.

https://www.fox5atlanta.com/news/atlanta-medical-center-hospital-shut-down-last-day-trauma-center

selec posted:

have had Covid for a week now and the worst side effect is being unable to go to Aldi. I just look at the app and sigh.

quote:

Throughout the early 2000s, housing prices in some parts of the country rose, and rose, and rose. Homes with prices that for decades had steadily grown with inflation were suddenly worth 50 percent or 100 percent more.

The rapidly rising prices fueled extraordinary behavior. Home sales nearly doubled from 2000 to 2005. In some metro areas, prices were rising so fast that an investor could buy a house, sit on it for a couple months, and sell it for a profit.

Mr Hootington posted:

https://twitter.com/SquawkStreet/status/1650497909320736769?t=V4_TYPZ-qDJc9o2m_VOdoQ&s=19

Animal-Mother posted:

Is jim Cramer dying?

shrike82 posted:

https://twitter.com/WSJ/status/1650496100053266432?s=20

gradenko_2000 posted:

I remember reading David Ricardo in what must have been 2018 and coming to the conclusion that if one were running a business, that you would have to treat your [dead] capital as an amortized, on-going expense from day 1, with the intent of having it "paid back" by the time the warranty runs out, or by the time you expect the thing to break

that is, if you buy a 10,000 dollar bakery oven (or however much such a thing costs), and it has an expected lifespan of five years, then you'd need to account for a cost of 167.00 dollars a month, so that you'd have the cost of the thing socked away and can replace it exactly five years later (and adjusting for however much the price of a new oven is going to be by that time)

this is obviously not a novel idea, but then I started looking at it from the other side and none of it made sense: if you're a manufacturer of... electric fans, eventually you're going to hit a point where everyone in your reach who might foreseeably want an electric fan already has one, and if your fans are built to last, then people are just going to stop buying fans, because they already have one, and the only other sales you'll get to make are people replacing their fans once they break... but that's not enough sales to make your firm sustainable

you could expand your market by beating the competition and increasing your reach to more people who don't yet have fans, but that's still going to hit a wall eventually

you could diversify by making more than just the one product, but same thing - the inescapable logic is that everyone who will ever want your product will already have it, and then what?

and I know that what I'm essentially describing is The Tendency for the Rate of Profit to Fall, and in turn explains the capitalist logic of planned obsolescence and the conversion of everything into X As A Service, but like... and then what???

Pittsburgh Fentanyl Cloud posted:

https://www.npr.org/2018/04/28/603678259/10-years-after-housing-crisis-a-realtor-a-renter-starting-over-staying-put

quote:

In 2006, Kristin and Justin Hege bought the house they thought would be their "forever home." At the time, she was 29 and he was 27. It felt perfect: the right size, the right location. They brought one of their sons home from the hospital to that house.

"I grew up in a small town in Ohio," Kristin says. "The 'forever home' thing was a legit thing. You stayed in your house until your kids went away to school."

Expecting to stay in the house for 15 years or more, they decided to do a complete remodel in 2007. They refinanced their original mortgage to pull out some equity to make the renovations. Afterward, at the height of the bubble, their house was valued at more than $400,000.

When home prices began to fall, their initial reaction was to stick it out. They could have kept paying their mortgage. The Heges own their own businesses; they were very sensitive to the damage a foreclosure or a short sale could do to their credit. And they thought it felt wrong to walk away from a commitment they'd signed on to.

"We could have each had two more jobs apiece and made it work and done it," Kristin says. "It was very hard for us and who we are as people to walk away."

But as home prices kept falling, the financial reality became impossible to ignore.


Eventually the Heges sold their house in a short sale for $149,000 — about half of what they still owed to the bank. (In a typical short sale, the bank agrees to accept less than what is owed and release the remainder of the debt. In many cases, lenders prefer short sales over foreclosures.)

gradenko_2000 posted:

and I know that what I'm essentially describing is The Tendency for the Rate of Profit to Fall, and in turn explains the capitalist logic of planned obsolescence and the conversion of everything into X As A Service, but like... and then what???

Mr Hootington posted:

https://twitter.com/SquawkStreet/status/1650497909320736769?t=V4_TYPZ-qDJc9o2m_VOdoQ&s=19

shrike82 posted:

https://twitter.com/BusinessInsider/status/1650447638351822848?s=20

Animal-Mother posted:

Is jim Cramer dying?

gradenko_2000 posted:

and then what???

Woke Mind Virus posted:

AlmightyBob posted:

tucker got fired

Woke Mind Virus posted:

Pittsburgh Fentanyl Cloud posted:

Oglethorpe posted:

if you dig too far you'll hit bedrock or lava!!