Politics

[Daryl S]

By 2030, "you will own nothing and you will be happy. Everything you need will be rented. Everything you want will be delivered by drone." This was an "add" on the WEF'S web site, where I saw it. They have taken it down, or this morning, I was just unable to find it.

 

[sgt_zim]

The smallest new single family home built by me is 1,978 SF. That's the problem. The supply of single family starter homes decreases every year.

And you're surprised by this?

Any idea what the regulatory cost is to just break ground?

Try and lecture me. I have a lot of SF RE properties.

People like you are getting exactly what you voted for.

 

[Daryl S]

Starter houses aren't 1,900square feet. WTF?

 

[HuntingGold]

Im not in a starter home and this place isn't even 1500 square feet. Raised three girls in it. All but one are gone on their own now. Im looking to find another place... really only one with a trophy room. Otherwise, this has functioned well in a nice neighborhood.

 

[Big_Easy]

Particular to the example I gave of a house right by me that is for sale for $90k and needs $20k of work to be "nice", you said it was impossible,

Ah yes, more lies and fiction. I never said it would be impossible. If this house is so easily fixed up then why hasn't someone purchased it yet?...Because it likely would not pass an inspection, and therefore would not qualify for a mortgage or insurance. Like I said in my last post.

it wouldn't be able to be financed, the buyer would never come up with a down payment

I never said the buyer's couldn't come up with a down payment. More fiction.

Best alternative living situation is apartments in my area that cost $2350 a month. To get that apartment, you need good credit, first and last month's rent, and the security deposit. $2350x3= $7050 to start your journey as an apartment slave.

Sounds like you live in a high-dollar area. One of the 2/1s that I rent goes for $1,395/month, only first and last required. I spread the security deposit over the remaining 10 months since renters rarely have that much money.

I know 50 private investors that would take this deal and extend it to anyone that has a job. We like 10% loans with secured capital via a land contract. The local banks and credit unions in my area would probably take the deal at better rates, cutting me out of the deal completely.

Then why haven't you or one of them gone and done it yet? 51 investors is a lot of folks to pass up on an opportunity. Talk is cheap. Go drop $120K and then sell it so someone else and stop writing fan fiction about this.

What does it take to accomplish this American dream? Our local gas station chain is like a miniature Buc-ees and they are offering 2nd and 3rd shift assistant manager positions at $60,000 a year salary, health benefits, and 40% profit sharing.

The gas station chain by me (Sheetz) has a sign up for $17/hr, no benefits, part time.

You propose victimhood, insurmountable odds, and need for subsidized everything.

I haven't proposed any of this, your "lies and fiction" fetish is getting out of control. Careful now, you won't have any time for your Socialism hate fetish.

I give a basic solution that is self-evident for anyone that wants to get ahead and it costs them less than half the price of the alternative.

And have you advertised this solution to anyone? How do folks even know that this solution exists for them to agree to?

 

[Big_Easy]

Starter houses aren't 1,900square feet. WTF?

I know, that's the problem. Most builders near me start at 2200-2400SF, 1978SF is rare for a small SFH in Raleigh. There are a few that build townhomes smaller, but the smallest townhome is usually ~1650SF here. Occasionally there is a 1400SF option. Like I said, the starter home population decreases every year here.

 

[Big_Easy]

And you're surprised by this?

Any idea what the regulatory cost is to just break ground?

In the South by me? Not much. In CA, probably a lot. In Wake Co., NC a new SFH permit fee for my example above is $569.50, inspections are included. Are you referring to building codes? I mean I do live in a hurricane prone area. Is it your opinion that we should reduce the stringency of the building code? That may make things a little cheaper, but that didn't work out so well for the folks in Homestead, FL during Hurricane Andrew. Or any of the dozens of other tropical storms that hit FL when I lived there.

Are you referring to required building plans and a comprehensive site layout? That's about $4,000-$7,000 depending on a variety of factors.

Are you referring to minimum lot size / zoning requirements?

Are you referring to general development impact fees? Because those are generally illegal in NC.

Considering that the Triangle is #1 in the nation by rate for new single family permits and top 5 by rate for multi-family permits in an urban area, I should think that regulation costs aren't that much overall around these parts.

Try and lecture me. I have a lot of SF RE properties.

I own several rentals myself, who's lecturing?

People like you are getting exactly what you voted for.

And what did I vote for?

 

[Tdsmith517]

Square footage cost on a house is very subjective. Framing typically accounts for roughly 20 percent of the total cost so framing a 2000 sqft house costs only marginally less than building a 2400sqft house. So you can often squeeze in another office, bedroom, bonus room,ect. What really drives up costs are what people put into the bathrooms and kitchens. I have worked on plenty of projects where me outfitting a walk in master closet could pay for a nice Rigby rifle. Fully built out butler’s pantries with wine fridges, built in coffee machines, sinks, the works could get you a shiny new Pickup truck. Kitchens that would allow you to kill a LDE, a Bongo, and a few other species while you are there is pretty typical. These are what lead to outrageous square footage prices you see. You could spend twice the money building a 2500sqft house that is fully optioned vs a 4000sqft house of builder grade finishes.

 

[BTP-KennethWRoyce]

The bottom decile didn't get a raise for 35 years.

I have no illusions of planting a utopia. I understand incremental progress. But we are clearly backsliding on the economic front. And it's only a matter of time before that debt catches up with us. Assuming that the country will survive it is a pretty big gamble.

You do know that the "bottom decile" is not a permanent position, right?
We don't quite have a caste system.

I do agree that our cascading $40T debt is a looming catastrophe. It is taking down its currency. This is likely a managed intentionality.

 

[Brent in Az]

Wow.....Maria Bartiromo and FOX are parting company.
Listening to her was like fingernails on a blackboard, but she always had good guests and content.

 

[Big_Easy]

You do know that the "bottom decile" is not a permanent position, right?
We don't quite have a caste system.

Permanent for all? No. Permanent for 40-47% of Americans? Yes. Upward mobility has been declining for decades in America...Now I suppose that many of the far-right members on here would suggest that these people are all lazy, spoiled, entitled, [insert Fox News talking points here], etc. But I would suggest that there are some alternative mechanisms at play.

https://www.brookings.edu/wp-content/uploads/2016/06/02_economic_mobility_sawhill.pdf

I do agree that our cascading $40T debt is a looming catastrophe. It is taking down its currency. This is likely a managed intentionality.

 

[rookhawk]

Permanent for all? No. Permanent for 40-47% of Americans? Yes. Upward mobility has been declining for decades in America...Now I suppose that many of the far-right members on here would suggest that these people are all lazy, spoiled, entitled, [insert Fox News talking points here], etc. But I would suggest that there are some alternative mechanisms at play.

https://www.brookings.edu/wp-content/uploads/2016/06/02_economic_mobility_sawhill.pdf

Upward mobility is thwarted at first rung by bad decision making. To get to the middle class you have a 98%+ chance if you A.) Do not have out of wedlock children, B.) Do not use drugs, C.) Graduate High School, D.) Do not have a criminal record.

Moving from middle class to upper middle class requires the ability to defer pleasure further and avoid the financial traps of the middle class that keep people poor. 1.) Car payments, 2.) Credit Cards "for the points", 3.) Time Shares, 4.) Recreational vehicles of all types. 5.) Vacations, 6.) Financing standard living.

To go from upper middle class to upper class requires the biggest leap because it cannot be accomplished by preservation of capital, it requires ownership of a business providing a product or service, and then preservation of capital by buying appreciating assets with the proceeds. You cannot save and invest yourself to the upper class, the personal economic engine has to be big enough, larger than a salaried employee can achieve through wages alone.

The 40%-70% number you cite for lack of upward mobility, and for the sake of argument I'll accept, is going to be the people that have the inability to defer pleasure or exhibit self control in order to follow ABCD above and become middle class. (a very low barrier to entry)

 

[skydiver386]

Upward mobility is thwarted at first rung by bad decision making. To get to the middle class you have a 98%+ chance if you A.) Do not have out of wedlock children, B.) Do not use drugs, C.) Graduate High School, D.) Do not have a criminal record.

Moving from middle class to upper middle class requires the ability to defer pleasure further and avoid the financial traps of the middle class that keep people poor. 1.) Car payments, 2.) Credit Cards "for the points", 3.) Time Shares, 4.) Recreational vehicles of all types. 5.) Vacations, 6.) Financing standard living.

To go from upper middle class to upper class requires the biggest leap because it cannot be accomplished by preservation of capital, it requires ownership of a business providing a product or service, and then preservation of capital by buying appreciating assets with the proceeds. You cannot save and invest yourself to the upper class, the personal economic engine has to be big enough, larger than a salaried employee can achieve through wages alone.

The 40%-70% number you cite for lack of upward mobility, and for the sake of argument I'll accept, is going to be the people that have the inability to defer pleasure or exhibit self control in order to follow ABCD above and become middle class. (a very low barrier to entry)

Everyone who ever achieved anything in life always has a singleminded purpose.

Look at Arnold Schwarzenegger and his public speeches about how he achieved his goals. Both he and his best friend Franco Columbo would work out for 3 hours in the morning, have breakfast before going to work laying bricks at the construction company they started, then an evening workout for 3 hours, then dinner and night classes in English and other subjects working towards a degree.

Arnold made his first million laying bricks, long before he appeared in any major Hollywood movies.

Obvious History: How Arnold Schwarzenegger made a million dollars laying bricks - Interview Magazine

The Terminator actor and former Governor of California was a self-made millionaire long before breaking the box office.

www.interviewmagazine.com

Contrast this with lazy Socialist bums like Karl Marx and Bernie Sanders who never worked a real job their entire lives.

 

[fourfive8]

So far it looks like the Nancy Grace Roman scope (one heckuva sophisticated corona-graphic scope) is well on the way to Lagrange L2 after being launched on a falcon heavy. It has the potential to really upend (or clarify ) current theories of dark matter and dark energy in addition to providing much clearer, direct observation of exoplanets. If it maintains full operation health…. quite a tall order from one instrument. We shall see in next few years.

 

[Killingtime]

Upward mobility is thwarted at first rung by bad decision making. To get to the middle class you have a 98%+ chance if you A.) Do not have out of wedlock children, B.) Do not use drugs, C.) Graduate High School, D.) Do not have a criminal record.

Moving from middle class to upper middle class requires the ability to defer pleasure further and avoid the financial traps of the middle class that keep people poor. 1.) Car payments, 2.) Credit Cards "for the points", 3.) Time Shares, 4.) Recreational vehicles of all types. 5.) Vacations, 6.) Financing standard living.

To go from upper middle class to upper class requires the biggest leap because it cannot be accomplished by preservation of capital, it requires ownership of a business providing a product or service, and then preservation of capital by buying appreciating assets with the proceeds. You cannot save and invest yourself to the upper class, the personal economic engine has to be big enough, larger than a salaried employee can achieve through wages alone.

The 40%-70% number you cite for lack of upward mobility, and for the sake of argument I'll accept, is going to be the people that have the inability to defer pleasure or exhibit self control in order to follow ABCD above and become middle class. (a very low barrier to entry)

I’ve always wondered how bad of a recession would we experience if just 70-80 percent of the population actually did live within their means and didn’t spend all of their money. I’m sure it would be massive given we are the top consumer in the world.

I know we will never find out because people are trained as children here to want every little insignificant thing. Everything around us is a driver to make us consume. Definitely presents a lot of opportunities though to start businesses.

 

[Stephen Knox]

I’ve always wondered how bad of a recession would we experience if just 70-80 percent of the population actually did live within their means and didn’t spend all of their money. I’m sure it would be massive given we are the top consumer in the world.

I know we will never find out because people are trained as children here to want every little insignificant thing. Everything around us is a driver to make us consume. Definitely presents a lot of opportunities though to start businesses.

Ahh I wondered why im always broke. Thanks for enlightening me much appreciated

 

[PARA45]

This has been discussed on here for quite a bit, and I just happened to come across this.

 

[Rocked and Loaded]

Mmmm.........beware...

http://youtube.com/post/Ugkxm47au0s_v2XRVuE9mXT8mdobWKB_wF6V?si=ZuPKCd-_RaS_69oE

Remember, when the left whines about separation of church and state, they’re only referring to your church.

 

[rookhawk]

Ahh I wondered why im always broke. Thanks for enlightening me much appreciated

The Financial Show host Dave Ramsey did a number of studies including the "Millionaire Study". In the "Millionaire Study", it was the largest survey sample of its kind ever conducted, 17,000 respondents. A lot of his advice is based on outcome-based evidence of how people became net-worth millionaires. (which technically encompasses much of the middle class) He also did a deca-millionaire subset analysis that had additional findings.

Based on the above, he organized habits and behaviors that keep people stuck in their economic strata:

For the poor / lower class:

-Payday Lenders & Title Loans
-Rent-to-Own Services
-Pawn Shops
-The lottery
-"how much down?" mindset

For the middle class:

-Car Payments & Leases
-Credit Card Rewards
-HELOCs and Home Equity Loans
-Student Loans
-Whole Life Insurance / Universal Life
-Recreational vehicles/boats/tractors/RVs/etc.
-"How much a month?" mindset

Both groups bad habits I would describe as "looking for shortcuts" and lack of self-control. I navigated through both of these social strata and I avoided almost all of these pitfalls with the exception of two boats in my early 20s and a student loan in my late 20s. Had I invested the two-boats of money and self-funded my education and invested it at that time, that $60k back then would be another million in my portfolio 25 years later.

 

[fourfive8]

For those with chronic, self absorbed, nearsighted tunnel vision, like RLD and BigEasy among others here, I will again suggest broaden your horizons and gain some perspective! I’ve spent some time in mountain villages in the Philippines where different languages are spoken and isolated cultures have developed. The Philippines is not unique in these perspectives- many places around the world can offer this. Rural populations there have no clue about nor interest in such things as affordable starter homes nor pseudo legalese, courtroom drama smugness like is commonly debated here. Linguists recognize there are some 180 distinct languages spoken in the Philippines, so it’s as good a place as any to gain some diverse perspective. While the travel there is like any long distance international destination, a royal PITA!, it is doable.

I have noticed some similarities between the local Navajo weaving culture here and one of the mountain tribes on Mindanao- the T’boli. The T’boli weaving and embroidery culture revolves around “dream patterns” while, similarly, the Navajo weavers are culturally based on their historical concept of “Spider Woman”. Here is a pic I pulled off the internet as an example of the unique and endless variety of T’boli “dream patterns”. So, broaden your horizons and perspectives and travel out of your comfort zone! Also… for an equally adventuresome destination, I would suggest the “Sea Nomad” culture in the far south Philippine area of Tawi Tawi and the Badjao people. Their divers have been documented to hold their breath for up to 13 minutes during foraging free dives! Be ready for culture shock when traveling any of these destinations.