Posted on 05/30/2023 8:05:47 AM PDT by dynachrome
Elon Musk is once again ringing the alarm on the US real-estate sector.
"Commercial real estate is melting down fast. Home values next," the Tesla and SpaceX chief tweeted on Monday.
The tech billionaire made the comment in response to a tweet by the Craft Ventures founder David Sacks, who said that a big chunk of commercial real-estate debt was due to mature soon.
Musk has previously warned that cracks could appear in property markets following turmoil in the banking sector. For example, the clean-energy pioneer said commercial real estate was "by far the most serious looming issue," and cautioned regional banks could experience a wave of defaults because of their huge exposure to the sector.
The debt-fueled industry has kept investors on edge in recent months, given that it faces a raft of headwinds. These include higher interest rates, tighter credit conditions, and work-from-home trends.
(Excerpt) Read more at markets.businessinsider.com ...
I got a motorhome... you got 600K, house is yours. clearing 400K will buy me a nice home in a red state. I’ll figure it out.
you want the snow blower too? it’s yours
Generator for when the grid goes down (it does) yours too
Lawn mower? well.. why not. it needs some maintenance anyways.
400K after 6 years in profit, you run with that money before they change their minds.
A house is a place to live, not an investment.
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Could not agree more. I’ve lived in my current home for 31 years and it was paid for 25 years ago, I’ll leave it to my kids when I die. What they do with it is their business.
Amen. This has always irked me. We get those postcards all the time from the investors that want to buy our house “as is” because their goal is to beautify the neighborhood. Uh huh. They want to take perfectly good houses and update them in order to appeal to the wealthier set I guess, or the ones that are going to take on more than they can chew. I hate that whole racket. Apartment buildings our investments if you can handle being a landlord. They don’t need to Target perfectly good houses that people live in why not go for the abandoned dilapidated ones?
And DeSantis could have done something about the middle class being driven to extinction by insurance companies, but instead, he’s cozied up to them.
Been doing 6 foot doors my self for 40 years lmao
It’s not both in a high property tax state/equity theft state/both.
In those you don’t own a home.
You rent from Deep State.
And a porta-potty off the back porch. Or at least a tree.
what state are you in?
Yes, and I suspect you know the little tricks that are worth me paying someone a couple hundred in cash to make the install happen in a couple hours.
Whereas I have to THINK about what I need to do next. I have only installed about eight exterior doors in my current and previous home.
My first house I installed all the interior christian doors, but I ordered those with split jambs. Again, in that situation I hired a buddy who was a professional carpenter. He showed me several tricks I didn’t know. He also helped me install crown molding in that house. Which I had never done prior.
That was before YouTube.
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