XPost: talk.politics.misc, alt.survival, alt.elections

"68g.1509" <68g.1505@exr3.net> on Sun, 18 Feb 2024 00:20:56 -0500
typed in alt.survival the following:

. .

Hmmmm ... seems it wasn't THAT long ago that banks
making mass quantities of CRAP loans took it up
the ass.

NOBODY LEARNS A DAMNED THING !

They're gonna get it two ways. First, as writ, the bad
"commercial" real-estate/biz loans. There were also too
many loans based on THIS real-estate bubble, just like
during the last crash.

The inflated real-estate market IS beginning to crack
now, only idiots bought-in at the ridiculous prices
and nobody can afford the current market anymore.
Values could drop maybe 25% by the end of the year
and a lot of interests just ain't gonna pay those
bank loans anymore.

It is isn't that they bought high, or that the market is in a
bubble.

It is that the demand for commercial real estate space has
dropped. With people working from home - who needs a big office with
a prestigious address?
People working from home, retail stores are not going to get the commuter trade. (That includes the sandwich, lunch, and coffee
places.)
People voted for progressive politicians, taxes are up, services
(cops) are down, employees don't feel safe coming to, or at, work,
customers don't feel safe coming to shop, or while shopping. The only
ones showing up regularly are the gangs sent to resupply their stores.
Stores start closing.
Progressive politicians blame skin color rather than the culture
they are supporting. Then raise taxes to pay for their pet programs,
which are falling on a smaller tax base, which means cutbacks have to
be made.
Who wants to own property in down town Progressive City, with the crime, open air drug markets, high taxes, no cops, cutback in services
to pay for the "migrants", etc? Time to sell the building.
When occupancy rates won't pay the bills, let alone make a loan payment, sell the building.

Assuming you can find a buyer. Who wants to buy property in down
town Progressive City, with the crime, open air drug markets, high
taxes, no cops, cutback in services to pay for the Sanctuary Status,
etc, just because it has what was a Prestigious Address?
Maybe at a discount. Say - 50 cents on the dollar? Twenty five?

How much would you pay for a building with an 8% occupancy rate? (That's 8 out of a 100 spaces are rented - 92 are vacant).
How much would you pay for a property you can't use because the squatters have more rights to use your property than you do?

Then the politicians you supported decide to solve inflation by "printing" money by the pallet load, further devaluing the dollar, and
the Fed is forced to raise interest rates, are you going to refinance
the loan [which will be based on a lower valuation of the property] at
a higher interest rate, when already you can't pay the bills?
--
pyotr filipivich
This Week's Panel: Us & Them - Eliminating Them.
Next Month's Panel: Having eliminated the old Them(tm)
Selecting who insufficiently Woke(tm) as to serve as the new Them(tm)

--- SoupGate-Win32 v1.05
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XPost: talk.politics.misc, alt.survival, alt.elections

On 2/18/24 10:57 AM, pyotr filipivich wrote:

"68g.1509" <68g.1505@exr3.net> on Sun, 18 Feb 2024 00:20:56 -0500
typed in alt.survival the following:

. .

Hmmmm ... seems it wasn't THAT long ago that banks
making mass quantities of CRAP loans took it up
the ass.

NOBODY LEARNS A DAMNED THING !

They're gonna get it two ways. First, as writ, the bad
"commercial" real-estate/biz loans. There were also too
many loans based on THIS real-estate bubble, just like
during the last crash.

The inflated real-estate market IS beginning to crack
now, only idiots bought-in at the ridiculous prices
and nobody can afford the current market anymore.
Values could drop maybe 25% by the end of the year
and a lot of interests just ain't gonna pay those
bank loans anymore.

It is isn't that they bought high, or that the market is in a
bubble.

We're talking several different kinds of loans here.

Ordinary real-estate DID experience a bubble - and banks
did keep making bigger loans as the price went up. Wasn't
QUITE as bad as last time though because a surprising
amount of the cash came from buyers themselves, sans loans.

BIZ real-estate ... that's the main subject. People/Corps
bought office/warehouse/retail space and now they're out
of biz or in bad shape and can't/won't pay. JoeFlation
and minimum-wage/etc laws made it even worse. The online
and 'from home' bits also contributed, but note that only
so many kinds of jobs can be done remotely.

Things have just been floundering since Covid & Joe. While
large concerns have done OK, it's the "Fred's Bakery" and
"MidTown Walk-In Clinic" and "Lamps & Shades" sort of
businesses that either failed or failed to even start.

The banks and other lenders are seriously on the hook
for all those storefronts/offices. A trillion dollars
(plus expected interest) ain't to be sneezed at.

It is that the demand for commercial real estate space has
dropped. With people working from home - who needs a big office with
a prestigious address?
People working from home, retail stores are not going to get the commuter trade. (That includes the sandwich, lunch, and coffee
places.)
People voted for progressive politicians, taxes are up, services
(cops) are down, employees don't feel safe coming to, or at, work,
customers don't feel safe coming to shop, or while shopping. The only
ones showing up regularly are the gangs sent to resupply their stores.
Stores start closing.
Progressive politicians blame skin color rather than the culture
they are supporting. Then raise taxes to pay for their pet programs,
which are falling on a smaller tax base, which means cutbacks have to
be made.
Who wants to own property in down town Progressive City, with the crime, open air drug markets, high taxes, no cops, cutback in services
to pay for the "migrants", etc? Time to sell the building.
When occupancy rates won't pay the bills, let alone make a loan payment, sell the building.

Assuming you can find a buyer. Who wants to buy property in down
town Progressive City, with the crime, open air drug markets, high
taxes, no cops, cutback in services to pay for the Sanctuary Status,
etc, just because it has what was a Prestigious Address?
Maybe at a discount. Say - 50 cents on the dollar? Twenty five?

How much would you pay for a building with an 8% occupancy rate? (That's 8 out of a 100 spaces are rented - 92 are vacant).
How much would you pay for a property you can't use because the squatters have more rights to use your property than you do?

Then the politicians you supported decide to solve inflation by "printing" money by the pallet load, further devaluing the dollar, and
the Fed is forced to raise interest rates, are you going to refinance
the loan [which will be based on a lower valuation of the property] at
a higher interest rate, when already you can't pay the bills?

Yes, a very sleazy, damaging, way to reduce debts is to
reduce the value of the currency. It's part of the federal
economic toolbox ... and the tools are mostly crap.

On the flip, 'economies' are huge complex tangled things and
"control" is more faith and illusion. But, they TRY - and
it's usually bad for all of us (except a certain elite).

Alas now, high interest rates (another tool in the rusty
box) are inhibiting business - old and new. Get financing
now and you're screwed.

As for WokieVille cities .... there's a lot of doom that's
going on there. It's the fault of their voters - who are
now getting what they asked for - but that's small consolation
since their screw-up burns us all via banking/finance systems.

--- SoupGate-Win32 v1.05
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XPost: talk.politics.misc, alt.survival, alt.elections

On 2/18/2024 9:57 AM, pyotr filipivich wrote:

"68g.1509" <68g.1505@exr3.net> on Sun, 18 Feb 2024 00:20:56 -0500
typed in alt.survival the following:

. .

Hmmmm ... seems it wasn't THAT long ago that banks
making mass quantities of CRAP loans took it up
the ass.

NOBODY LEARNS A DAMNED THING !

They're gonna get it two ways. First, as writ, the bad
"commercial" real-estate/biz loans. There were also too
many loans based on THIS real-estate bubble, just like
during the last crash.

The inflated real-estate market IS beginning to crack
now, only idiots bought-in at the ridiculous prices
and nobody can afford the current market anymore.
Values could drop maybe 25% by the end of the year
and a lot of interests just ain't gonna pay those
bank loans anymore.

It is isn't that they bought high, or that the market is in a
bubble.

It is that the demand for commercial real estate space has
dropped. With people working from home - who needs a big office with
a prestigious address?
People working from home, retail stores are not going to get the commuter trade. (That includes the sandwich, lunch, and coffee
places.)
People voted for progressive politicians, taxes are up, services
(cops) are down, employees don't feel safe coming to, or at, work,
customers don't feel safe coming to shop, or while shopping. The only
ones showing up regularly are the gangs sent to resupply their stores.
Stores start closing.
Progressive politicians blame skin color rather than the culture
they are supporting. Then raise taxes to pay for their pet programs,
which are falling on a smaller tax base, which means cutbacks have to
be made.
Who wants to own property in down town Progressive City, with the crime, open air drug markets, high taxes, no cops, cutback in services
to pay for the "migrants", etc? Time to sell the building.
When occupancy rates won't pay the bills, let alone make a loan payment, sell the building.

Assuming you can find a buyer. Who wants to buy property in down
town Progressive City, with the crime, open air drug markets, high
taxes, no cops, cutback in services to pay for the Sanctuary Status,
etc, just because it has what was a Prestigious Address?
Maybe at a discount. Say - 50 cents on the dollar? Twenty five?

How much would you pay for a building with an 8% occupancy rate? (That's 8 out of a 100 spaces are rented - 92 are vacant).
How much would you pay for a property you can't use because the squatters have more rights to use your property than you do?

Then the politicians you supported decide to solve inflation by "printing" money by the pallet load, further devaluing the dollar, and
the Fed is forced to raise interest rates, are you going to refinance
the loan [which will be based on a lower valuation of the property] at
a higher interest rate, when already you can't pay the bills?

The Painful Truth.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.survival, alt.elections

Vincent wrote on 2/18/2024 9:24 PM:

On 2/18/2024 9:57 AM, pyotr filipivich wrote:

"68g.1509" <68g.1505@exr3.net> on Sun, 18 Feb 2024 00:20:56 -0500
typed in alt.survival  the following:

. .

   Hmmmm ... seems it wasn't THAT long ago that banks
   making mass quantities of CRAP loans took it up
   the ass.

   NOBODY LEARNS A DAMNED THING !

   They're gonna get it two ways. First, as writ, the bad
   "commercial" real-estate/biz loans. There were also too
   many loans based on THIS real-estate bubble, just like
   during the last crash.

   The inflated real-estate market IS beginning to crack
   now, only idiots bought-in at the ridiculous prices
   and nobody can afford the current market anymore.
   Values could drop maybe 25% by the end of the year
   and a lot of interests just ain't gonna pay those
   bank loans anymore.

    It is isn't that they bought high, or that the market is in a
bubble.

    It is that the demand for  commercial real estate space has
dropped.  With people working from home - who needs a big office with
a prestigious address?
    People working from home, retail stores are not going to get the
commuter trade. (That includes the sandwich, lunch, and coffee
places.)
    People voted for progressive politicians, taxes are up, services
(cops) are down, employees don't feel safe coming to, or at, work,
customers don't feel safe coming to shop, or while shopping. The only
ones showing up regularly are the gangs sent to resupply their stores.
Stores start closing.
    Progressive politicians blame skin color rather than the culture
they are supporting.  Then raise taxes to pay for their pet programs,
which are falling on a smaller tax base, which means cutbacks have to
be made.
    Who wants to own property in down town Progressive City, with the
crime, open air drug markets, high taxes, no cops, cutback in services
to pay for the "migrants", etc?  Time to sell the building.
    When occupancy rates won't pay the bills, let alone make a loan
payment, sell the building.

    Assuming you can find a buyer.  Who wants to buy property in down >> town Progressive City, with the crime, open air drug markets, high
taxes, no cops, cutback in services to pay for the Sanctuary Status,
etc, just because it has what was a Prestigious Address?
    Maybe at a discount.  Say - 50 cents on the dollar?  Twenty five? >>
    How much would you pay for a building with an 8% occupancy rate?
(That's 8 out of a 100 spaces are rented - 92 are vacant).
    How much would you pay for a property you can't use because the
squatters have more rights to use your property than you do?

    Then the politicians you supported decide to solve inflation by
"printing" money by the pallet load, further devaluing the dollar, and
the Fed is forced to raise interest rates, are you going to refinance
the loan [which will be based on a lower valuation of the property] at
a higher interest rate, when already you can't pay the bills?

The Painful Truth.

Your system is broken. The money changers have taken over the decision
makers in DC.

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XPost: talk.politics.misc, alt.survival

On Sun, 18 Feb 2024 19:43:15 -0500, 68g.1509 wrote:

The banks and other lenders are seriously on the hook for all those
storefronts/offices. A trillion dollars (plus expected interest)
ain't to be sneezed at.

The same thing happened in the late '80s when the tax code encouraged
building unneeded office space.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.survival, alt.fan.rush-limbaugh

On 2/18/24 10:18 PM, rbowman wrote:

On Sun, 18 Feb 2024 19:43:15 -0500, 68g.1509 wrote:

The banks and other lenders are seriously on the hook for all those
storefronts/offices. A trillion dollars (plus expected interest)
ain't to be sneezed at.

The same thing happened in the late '80s when the tax code encouraged building unneeded office space.

And had bad results.

But the global economy is worse now, harder to
recover - IF possible at all.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)