[Doomsday Economics] Home of Kirbeh's $0.04 millislice (minimum order 1000)

The Something Awful Forums > Discussion > C-SPAM > [Doomsday Economics] Home of Kirbeh's $0.04 millislice (minimum order 1000)

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(Thread IKs: skooma512)

ArmedZombie: Jun 6, 2004

Benagain posted:

Goons spending the exact same amount of time explaining how if you buy food that someone else made ever you pretty much deserve death

WIC and SNAP work the same way

# ? Jan 6, 2024 20:38

Adbot: ADBOT LOVES YOU

# ? May 24, 2024 02:37

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

freezepops posted:

it wasn�t even a door, a supposedly fixed plug failed.

i hope a country with a competent air regulator grounds the max. extra lol if china bans the max from their airspace due to shoddy design and craftsmanship.

No, it was a door, or rather, a spot for a door. for the high-capacity mega-sardine can version, they need to have an additional emergency door. but not all versions need it so they use a fake door plug in the frame instead. they used to make outward opening doors but learned they kept popping off. that's why all doors are now designed to swing inward in planes because the pressure keeps them from loving popping out. it looks like the plug was just a |_| -shape version wherein the plug should have been the same sort of /_\ design as well as if it was a door

Xaris has issued a correction as of 21:32 on Jan 6, 2024

# ? Jan 6, 2024 21:29

Deep Dish Fuckfest: Sep 6, 2006; Advanced
Computer Touching; Toilet Rascal

Potato Salad posted:

I sure am glad that the FAA is a robust institution that asks hard questions and isn't staffed by former Boeing and carrier employees and completely captured by industrial interests

i'm frankly surprised that the ntsb seem to have escaped that so far and are still competent at their job, i think?

anyways, let me tell you about how in the soviet union airliners were basically death traps that fell apart in midflight and proof that planned economies are a failure

# ? Jan 6, 2024 21:41

Shear Modulus: Jun 9, 2010

https://twitter.com/nytimes/status/1743701244676333787

# ? Jan 6, 2024 21:47

Shear Modulus: Jun 9, 2010

excited they brought back the deathtrap plane for another season

# ? Jan 6, 2024 21:49

Sydin: Oct 29, 2011; Another spring commute

"some"

# ? Jan 6, 2024 21:54

Paradoxish: Dec 19, 2003; Will you stop going crazy in there?

Stop expecting so much from the airplanes you fly on and you'll be much happier. Learn to live or die with less.

# ? Jan 6, 2024 21:55

Malloc Voidstar: May 7, 2007; Fuck the cowboys. Unf. Fuck em hard.

Sydin posted:

"some"

i think it's either "planes owned by US airlines or that fly in the US" or "planes with the exact configuration the AA plane had"
they're apparently just inspecting the doorplugs and nothing else

# ? Jan 6, 2024 21:58

silicone thrills: Jan 9, 2008; I paint things

It's just a little mild rivet failure.

# ? Jan 6, 2024 22:04

SKULL.GIF: Jan 20, 2017

Beached Whale posted:

https://twitter.com/OmarMora1es/status/1742917356941156430

lol at all the utterly delusional replies. not a single braincell among them

# ? Jan 6, 2024 22:12

limp dick calvin: Sep 1, 2006; Strepitoso. Vedete? Una meraviglia.

Shear Modulus posted:

https://twitter.com/nytimes/status/1743701244676333787

I just bought one come on

# ? Jan 6, 2024 22:14

OBAMNA PHONE: Aug 7, 2002

silicone thrills posted:

It's just a little mild rivet failure.

nope

# ? Jan 6, 2024 22:29

Raskolnikov38: Mar 3, 2007; We were somewhere around Manila when the drugs began to take hold

SKULL.GIF posted:

lol at all the utterly delusional replies. not a single braincell among them

twitter is absolutely worthless beyond whatever the top tweet is. letting retards and bots pay to be top replies made them useless

# ? Jan 6, 2024 22:48

Xaris: Jul 25, 2006; Lucky there's a family guy
Lucky there's a man who positively can do
All the things that make us
Laugh and cry

cant afford diapers? take out a line of credit

# ? Jan 6, 2024 22:52

Rauros: Aug 25, 2004; wanna go grub thumping?

sleep with the vicious posted:

There should be community kitchens located all over the place where you can go and get healthy, filling, nutritious meals at no charge

i was dealing with a smoker in my building and was looking for a new place that included living in danish-style cohousing village. the village would have group dinners every evening in the central building and you would be expected to cook or clean up every 6 weeks or so. pretty awesome setup!

# ? Jan 6, 2024 22:58

Acelerion: May 3, 2005

If the planes arnt safe enough for someone they just won't buy a ticket

# ? Jan 6, 2024 22:58

Willa Rogers: Mar 11, 2005

Good piece on investment companies buying up single-family housing:

quote:

�Swapping homes like stocks�: Wall Street-backed firm buys 264 valley homes in a day

A Wall Street-backed corporate landlord bought hundreds of Clark County homes in a staggering one-off residential sale in summer 2023.

Miami-based investment firm Starwood Capital Group sold 264 homes in Clark County for $98 million to Dallas-based Invitation Homes (NYSE: INVH), according to Clark County property records.

The deal, made in three separate transactions, closed on July 18, property records show. The largest sale was $57.5 million for 155 homes, the second was $26.3 million for 70 homes and the third was $14.1 million for 39.

The majority of the homes sold are in the city of Las Vegas (94), followed by the city of North Las Vegas with 77. The price range for each home ranged from around $292,000 to $694,000, with the average price at $371,514.

The sale is part of a much larger deal between Starwood Capital and Invitation Homes, a $650 million swap for a portfolio of close to 1,900 single-family rental homes, with the majority being in the Sun Belt, including in Texas, Florida, Phoenix, Las Vegas and Los Angeles.

Wall Street-backed hedge funds, corporate landlords and cash-rich investors have been buying up single-family homes across the country as far back as 2009, which experts say means fewer houses on the market for families to purchase. That also could lead to higher rental prices and fewer affordable homes in regions such as the Las Vegas Valley. A MetLife Investment Management study shows these companies could own close to 40 percent of all U.S. houses by 2030.

Concerning the $98 million sale, an Invitation Homes representative said the purchase was part of a �larger portfolio acquisition across multiple markets,� but declined to comment further on the deal. As of the third quarter of 2023, the company had bought 2,291 homes for $854 million during the year, which includes the 264 homes in the Las Vegas Valley, according to its latest earnings report. Starwood Capital declined to comment on the sale.

Noah Herrera, a real estate agent who has worked in the Las Vegas Valley for nearly 30 years, said Wall Street-backed hedge funds and large corporate landlords first got involved in the housing market after the Great Recession in 2008-09, when real estate values bottomed out across the country.

Herrera said he worked with a few corporate landlords during the initial buying phase in 2008-09, and they told him they would resell what they bought in five years. But these landlords never put these houses back on the market, he said.

He said what scares him the most about corporate America getting involved in residential real estate is what are known as �rental-backed securities,� where companies such as Invitation are selling to investors. The product has a lot of similarities to mortgage-backed securities, one of the downfalls of the housing market during the 2008-09 crash.

�They�ve turned these homes into collateralized rental obligations. They�ve collateralized them and what they�re doing is swapping homes like stocks for one another.�

How many homes does Invitation own?

Rutgers University researcher Eric Seymour, who compiled data with the Las Vegas Review-Journal, said Invitation Homes owns about 3,500 homes in Clark County, a number that has jumped since 2019 when they owned fewer than 3,100 homes. That makes it the second-largest owner of single-family rental homes in Clark County.

Progress Residential � the largest corporate landlord in Clark County � owns more than 3,700 homes, more than double their portfolio in 2019.

Seymour said Starwood recently purchased some properties from Scottsdale, Arizona-based Progress Residential, which builds and owns more than 85,000 single-family rental homes across 30 metros. He added this is par for the course in today�s real estate market, as massive multibillion-dollar companies are swapping housing stock like stocks.

�Large single-family landlords like Invitation and Progress first acquired inventory following the foreclosure crisis, when they bought homes at discounted prices,� he said. �They�ve since grown primarily through acquisitions of competitor firms. As these companies settled in as landlords, they�ve also made bulk deals with competitor firms to grow or shed their presence in particular markets. They are essentially trading with each other to enhance the performance of their overall inventory.�

UNLV�s Lied Center for Real Estate Director Shawn McCoy estimates that investors (anyone who has bought more than 10 homes in the past five years) own approximately 15 percent of all of the single-family homes in Clark County, a number that has been rising steadily since the Great Recession.

But to Mark Pingle, a professor of economics at the University of Nevada, Reno, this swap might not be the best rate of return on the company�s investment. On average, each home sold for roughly $370,000 and many of the rentals listed on Invitation Homes� website average around $2,600, which gives the companies a low rate of return on their investment at about 5 percent.

�They must be thinking the prices of those houses, long term, will go up,� Pingle said. �It doesn�t seem like it�s a great financial deal.�

But because people need a place to live, ultimately the economist believes the revenue is relatively safe.

Although corporate landlords are exchanging hundreds of homes at a time, Pingle said he is not concerned about what the companies are doing and believes it�s �a drop in the bucket,� as there are more than a quarter of a million homes in Clark County. He also doesn�t believe there is a risk of a monopoly just yet, as there are many competing companies in the area.

�To me, what you�ll tend to see is more people living in, instead of single-family homes, you�ll see a higher percentage living in apartment buildings,� Pingle said, noting there will be a decline in home ownership.

Political movement?

Politicians and housing advocates across the country point to the growing corporate ownership of American homes as the reason for inflated home prices and rental rates across major cities and counties in the U.S., including Clark County.

U.S. Rep. Steven Horsford, D-Nev., who represents Nevada�s 4th Congressional District including North Las Vegas, where the majority of corporate owned single-family rental homes in Clark County reside, said one of the biggest concerns he hears from constituents is the high cost of rent and access to affordable housing.

Horsford reintroduced legislation early in 2023, called the Housing Oversight and Mitigating Exploitation (HOME) Act, noting that �large institutional speculators� are buying up America�s housing market at an alarming rate. The bill aims to help protect Americans by creating institutional oversight in the housing market, such as allowing the U.S. Department of Housing and Urban Development to investigate corporate landlord purchases and stamp out market manipulation.

�I continue to call for federal investigations into whether corporate landlords have artificially inflated rent and property costs or have systematically targeted certain communities of color, single mothers, or retirees,� Horsford said in a statement to the Review-Journal. �These bulk sales are evidence that once an out-of-state corporate speculator purchases a home, it is unlikely to resurface on the housing market for everyday working families, artificially lowering our already dire supply of housing in Southern Nevada.�

Estimates from the National Low Income Housing Coalition are that Clark County is already short more than 80,000 affordable housing units, a number that has been rising for years.

Horsford said under the Republican majority in the House this year, they only had one hearing for the housing subcommittee he sits on.

�If we are to address this issue that is impacting so many Nevadans, we have to spend more time discussing the facts,� he said. �In the last Congress, under Chairwoman Maxine Waters, the Financial Services Committee had a hearing on this topic. Progress Residential and Invitation Homes were included in the research conducted by the committee and showed that these companies had elevated fees, higher than average evictions, and were more likely to cost burden their lower-income rentals.�

Another bill was also introduced in December by Democrats U.S. Rep. Adam Smith of Washington and U.S. Sen. Jeff Merkley of Oregon in both houses of Congress called the End Hedge Fund Control of American Homes Act of 2023. This bill would tackle the problem by banning hedge fund investors from owning large numbers of homes by establishing a $20,000 federal tax penalty per single family owned in excess of 100.

Independent presidential candidate Robert F. Kennedy, Jr., who is currently polling third behind President Joe Biden and Republican front-runner Donald Trump in a NPR/PBS NewsHour/Marist National poll, said he is not sure why this has not already become a major campaign platform given its overall impact on the American real estate market, and does expect housing to become a big ticket item in the 2024 presidential election.

Both the White House and Trump�s media team did not respond to a request for comment on this story.

�Honestly, I don�t know why this isn�t a more prominent issue among national politicians,� Kennedy said in a statement. �Possibly, they are reluctant to offend Wall Street and the big institutional buyers. In any event, this is a serious issue for our country, because home ownership is the quintessence of the American Dream and a key to stable communities. When people do not own their own home, they are in a literal sense less invested in their community. They are also economically vulnerable to rent hikes.�

https://www.reviewjournal.com/business/housing/swapping-homes-like-stocks-wall-street-backed-firm-buys-264-valley-homes-in-a-day-2976037/

1. lmao that the nevada rep says that the gop House only held one hearing on the matter, while the prior democrat House held one hearing on the matter.

2. double lmao that rfk jr. has made this a campaign issue while the 2 frontrunners are essentially "no comment."

# ? Jan 6, 2024 22:59

Pittsburgh Fentanyl Cloud: Apr 7, 2003

Xaris posted:

No, it was a door, or rather, a spot for a door. for the high-capacity mega-sardine can version, they need to have an additional emergency door. but not all versions need it so they use a fake door plug in the frame instead. they used to make outward opening doors but learned they kept popping off. that's why all doors are now designed to swing inward in planes because the pressure keeps them from loving popping out. it looks like the plug was just a |_| -shape version wherein the plug should have been the same sort of /_\ design as well as if it was a door

This forum used to have an airplane engineer guy who could have commented on this, but he got himself banned by being a hosed up sex pervert

# ? Jan 6, 2024 23:06

silicone thrills: Jan 9, 2008; I paint things

OBAMNA PHONE posted:

nope

MILD (its a joke, goon)

silicone thrills has issued a correction as of 23:08 on Jan 6, 2024

# ? Jan 6, 2024 23:06

Thoguh: Nov 8, 2002; College Slice

I�d say I don�t know how they don�t ground the entire Max fleet indefinitely but no way the FAA or Buttigieg have the balls to do that

# ? Jan 6, 2024 23:14

sleep with the vicious: Apr 2, 2010

https://twitter.com/SecretaryPete/status/1743379389000175623?t=LFvN25yDTX_CHLx4MisaYg&s=19

Lmao

# ? Jan 6, 2024 23:17

HAIL eSATA-n: Apr 7, 2007

Deep Dish Fuckfest posted:

i'm frankly surprised that the ntsb seem to have escaped that so far and are still competent at their job, i think?

teslas are still allowed on public roads

# ? Jan 6, 2024 23:29

skooma512: Feb 8, 2012; You couldn't grok my race car, but you dug the roadside blur.

gradenko_2000 posted:

https://twitter.com/poppy_haze/status/1743687020247986317?t=HpH0mDRwZ6GdbQoUIXRacg&s=19

Just need a runway incursion and you�ll have the treble of the current aviation safety zeitgeist

# ? Jan 6, 2024 23:30

Akratic Method: Mar 9, 2013; It's going to pay off eventually--I'm sure of it.

Any day now.

Willa Rogers posted:

Good piece on investment companies buying up single-family housing:

https://www.reviewjournal.com/business/housing/swapping-homes-like-stocks-wall-street-backed-firm-buys-264-valley-homes-in-a-day-2976037/

1. lmao that the nevada rep says that the gop House only held one hearing on the matter, while the prior democrat House held one hearing on the matter.

2. double lmao that rfk jr. has made this a campaign issue while the 2 frontrunners are essentially "no comment."

darkly funny that the �thing that scares him most� is the possibility that banks could be victimized by these dastardly new securities, a case which implies that the real estate holdings might *gasp* fail to sufficiently extort the working class for a sufficient amount of money

a truly nightmarish scenario

# ? Jan 6, 2024 23:39

Ferdinand Bardamu: Apr 30, 2013

Pittsburgh Fentanyl Cloud posted:

This forum used to have an...but he got himself banned by being a hosed up sex pervert

Many such cases. :sad:

# ? Jan 6, 2024 23:45

Potato Salad: Oct 23, 2014; nobody cares

Deep Dish Fuckfest posted:

i'm frankly surprised that the ntsb seem to have escaped that so far and are still competent at their job, i think?

anyways, let me tell you about how in the soviet union airliners were basically death traps that fell apart in midflight and proof that planned economies are a failure

I think you have the NTSB and the NHTSA confused

# ? Jan 6, 2024 23:52

SKULL.GIF: Jan 20, 2017

Willa Rogers posted:

Good piece on investment companies buying up single-family housing:

https://www.reviewjournal.com/business/housing/swapping-homes-like-stocks-wall-street-backed-firm-buys-264-valley-homes-in-a-day-2976037/

1. lmao that the nevada rep says that the gop House only held one hearing on the matter, while the prior democrat House held one hearing on the matter.

2. double lmao that rfk jr. has made this a campaign issue while the 2 frontrunners are essentially "no comment."

quote:

Another bill was also introduced in December by Democrats U.S. Rep. Adam Smith of Washington and U.S. Sen. Jeff Merkley of Oregon in both houses of Congress called the End Hedge Fund Control of American Homes Act of 2023. This bill would tackle the problem by banning hedge fund investors from owning large numbers of homes by establishing a $20,000 federal tax penalty per single family owned in excess of 100.

embarrassingly inadequate

# ? Jan 6, 2024 23:54

Canned Sunshine: Nov 20, 2005; CAUTION: POST QUALITY UNDER CONSTRUCTION

Pittsburgh Fentanyl Cloud posted:

This forum used to have an airplane engineer guy who could have commented on this, but he got himself banned by being a hosed up sex pervert

That probably describes the entire aviation thread tbh. Pilots are natural sex perverts

Canned Sunshine has issued a correction as of 00:18 on Jan 7, 2024

# ? Jan 7, 2024 00:09

Hubbert: Mar 25, 2007; At a time of universal deceit, telling the truth is a revolutionary act.

idk why everyone is so excited about the emergency exit exploding off the plane

It's an emergency exit

it's supposed to create an emergency!

# ? Jan 7, 2024 00:14

RealityWarCriminal: Aug 10, 2016

fun fact aeroplanes use bolts instead of welds because a cracked weld will propagate while a failed bolt will only fail that bolt, usually

# ? Jan 7, 2024 00:27

Willa Rogers: Mar 11, 2005

Akratic Method posted:

darkly funny that the �thing that scares him most� is the possibility that banks could be victimized by these dastardly new securities, a case which implies that the real estate holdings might *gasp* fail to sufficiently extort the working class for a sufficient amount of money

a truly nightmarish scenario

banks have nothing to worry about; the government will always bail them out unconditionally. I thought it was that "this reminds me of 2008" seems like a bad sign overall.

SKULL.GIF posted:

embarrassingly inadequate

it's the usual slap-on-the-wrist treatment by a government captured by the private sector.

# ? Jan 7, 2024 00:35

Canned Sunshine: Nov 20, 2005; CAUTION: POST QUALITY UNDER CONSTRUCTION

Isn't the MAX's structural body a centrifugally cast item, although they provision the mold/etc. for the various openings? Because if they're cutting out the openings afterward, then lol. lmao.

# ? Jan 7, 2024 00:36

mawarannahr: May 21, 2019

2-3 weeks ago
Boeing wins key clearance from China's aviation regulator on 737 Max deliveries, report says

www.cnbc.com - Thu, 21 Dec 2023 posted:

Boeing�has won a key clearance from China�s aviation regulator, moving it a step closer to resuming deliveries of 737 Max aircraft to the country after a more than four-year freeze, trade publication The Air Current said on Wednesday.

Individual aircraft deliveries to China that were suspended in 2019 after two deadly crashes still need approval from China�s National Development and Reform Commission (NDRC), the report said.

�We continue to support our customers in China and will be ready to deliver for our customers when that time comes,� Boeing said in a statement.

China�s aviation regulator�s deputy head on Dec. 8 told a Boeing executive in Beijing the airplane maker was welcome to deepen its development in the Chinese market, Reuters reported. The Air Current, citing unnamed sources, said the regulator�s clearance was granted that day.

Chinese imports of the Max, Boeing�s most profitable product, have been suspended since it was grounded worldwide in 2019. Safety bans have been lifted, with Max aircraft delivered before the grounding already flying inside China, but new deliveries have remained on hold.

A 737 Max designated for China Southern Airlines flew from Boeing Field in Seattle to Boeing�s nearby facility in Moses Lake, Washington, and back on Wednesday afternoon, according to data from flight tracking website FlightRadar24.

Analysts from Jefferies and Deutsche Bank said in investor notes that it appeared to be a customer acceptance flight - a test flight operated by an airline pilot that occurs before delivery.

For Boeing, restarting deliveries would symbolize the re-opening of doors to one of the world�s most important aerospace markets, which Boeing projects will compose 20% of the world�s aircraft demand through 2042.

# ? Jan 7, 2024 00:40

OBAMNA PHONE: Aug 7, 2002

Canned Sunshine posted:

Isn't the MAX's structural body a centrifugally cast item, although they provision the mold/etc. for the various openings? Because if they're cutting out the openings afterward, then lol. lmao.

what on earth are you smoking

# ? Jan 7, 2024 00:41