Five observations:
1. I watched a podcast talking over business-use (small-time guys), with them using credit cards to carry their monthly rent situation. On the list of top ten things to screw up and ‘kill’ your business...this is near number one.
2. Outrageous number of condos for sale in Florida at present...way beyond the market capability. Use Zillow and eyeball offerings. Reason? Insurance going up...along with HOA fees. If they don’t see them by drop-dead day with HOA? HOA will start court-process to seize your property....like they really need it or can find a market themselves. All of this will lead to several thousand condos in FL just sitting there....empty.
3. Commercial property being turned over to banks because of zero ability to market or fill the commercial property. This empty-era? In the case of California commercial properties...I don’t see them being used for at least ten years.
4. Just a lot of similarity to 1920s to late 1930s going on. Instead of bums camped on the outskirts of town...squatters are sitting in empty houses, with authorities unable to act.
5. Just about everyone with the WH team who are asked economic questions....give answers like you’d expect from a 11-year old kid. This is another funny detail related to 1930s under FDR administration...they also knew little to nothing about economics or business or banking.
Whoever wins in November....is to be given a 5-star mess, which is a collapsed economy and a mess taking five to ten years to resolve. I’d generally suggest to folks....down-size your debt presently, and prepare for serious bank issues, with tax increases required in 2025.