Mandalay Beach Done?

PRCD

Tom Curren status
Feb 25, 2020
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the private equity funds are also buying up properties (pricing out families) then renting them to said families lolz. basically prison for the middle class.
I talked to some Boomers about this because their kids still can't afford to buy a home nearby or at all given they estimated $120T in the hands of these people. Their response:
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Havoc

Phil Edwards status
May 23, 2016
7,680
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in da hood next to paradise
I talked to some Boomers about this because their kids still can't afford to buy a home nearby or at all given they estimated $120T in the hands of these people. Their response:
View attachment 111629

yeah, scary thing is, they are buying up in the areas where they project people will try to move to buy houses in the future lolz. their analysts are always one step ahead...
 
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PRCD

Tom Curren status
Feb 25, 2020
12,502
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yeah, scary thing is, they are buying up in the areas where they project people will try to move to buy houses in the future lolz. their analysts are always one step ahead...
Have you noticed all the recent articles saying that Millennials don't really like home ownership anyway? I expect the usual suspects to parrot these infinitely.
 

Subway

Administrator
Staff member
Dec 31, 2008
13,496
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when they finally admit social security will be bankrupt within the decade and millions upon millions of average tax paying citizens realize their FORCED life savings has been pilfered and squandered, that will make May of 2020 look like band camp
 
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Bob

Michael Peterson status
Apr 23, 2001
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when they finally admit social security will be bankrupt within the decade and millions upon millions of average tax paying citizens realize their FORCED life savings has been pilfered and squandered, that will make May of 2020 look like band camp
I used to say my social security would never happen also. Wrong! And you will be too.
Wanna bet?
 

casa_mugrienta

Duke status
Apr 13, 2008
43,203
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Petak Island
when they finally admit social security will be bankrupt within the decade and millions upon millions of average tax paying citizens realize their FORCED life savings has been pilfered and squandered, that will make May of 2020 look like band camp

SSI rocks!

I wonder what's gonna happen when their 401Ks are taken in for "management" by the government for "their protection."

That hasn't been tried either!
 

VonMeister

Duke status
Apr 26, 2013
20,251
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JOE BIDENS RAPE FINGER
the private equity funds are also buying up properties (pricing out families) then renting them to said families lolz. basically prison for the middle class.
Fed and State of Ca are working together right now to subsidize homeowners for turning their single family homes into homeless hostels,....similar to the drug treatment centers that pop up in the middle of family neighborhoods that HOA's and local jurisdictions are powerless to stop due to state law. California is busy figuring ut how to change state law without a ballot vote.

The private equity funds see the opportunity there, The state with federal assistance will pay an obscene amount of money.... $2000 plus per month per head for these spaces with the PE firms making 30 to 40k per month off a single family home they paid a million for. A five year fund can return a 200% waterfall.

The democrat party has a love hate relationship with home ownership. They love it for the elite but they feel the middle class and below should be part of a collective.
 

PRCD

Tom Curren status
Feb 25, 2020
12,502
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Fed and State of Ca are working together right now to subsidize homeowners for turning their single family homes into homeless hostels,....similar to the drug treatment centers that pop up in the middle of family neighborhoods that HOA's and local jurisdictions are powerless to stop due to state law. California is busy figuring ut how to change state law without a ballot vote.

The private equity funds see the opportunity there, The state with federal assistance will pay an obscene amount of money.... $2000 plus per month per head for these spaces with the PE firms making 30 to 40k per month off a single family home they paid a million for. A five year fund can return a 200% waterfall.
This is the part of the grift I forgot to mention. You can put bunk beds in the rooms of each SFH and squeeze 10-15 people into one, each paying $2k per month straight from the government. I've seen residence requirements for these such as, "No history of violence in the past 6 months." :rolleyes:

Here's an example. This home was worth about $700k at the time of purchase, the "charity" paid $1.5 million, pricing-out other buyers. "Transitional youth" means "18-26 year-olds." They're squeezing in 14 people after tearing out more walls.
 
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Bob

Michael Peterson status
Apr 23, 2001
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Oxnard
I suggest you live on SSI for the rest of your life and tell us if social security "happened."
Who said anything about living on it. It supplements my retirement and I definitely enjoy it. It is the lack of any kind of retirement that will screw future retirees.
 

afoaf

Duke status
Jun 25, 2008
49,204
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Fed and State of Ca are working together right now to subsidize homeowners for turning their single family homes into homeless hostels,....similar to the drug treatment centers that pop up in the middle of family neighborhoods that HOA's and local jurisdictions are powerless to stop due to state law. California is busy figuring ut how to change state law without a ballot vote.

The private equity funds see the opportunity there, The state with federal assistance will pay an obscene amount of money.... $2000 plus per month per head for these spaces with the PE firms making 30 to 40k per month off a single family home they paid a million for. A five year fund can return a 200% waterfall.

The democrat party has a love hate relationship with home ownership. They love it for the elite but they feel the middle class and below should be part of a collective.
this is free market capitalism

meanwhile we're complaining about hypothetical marxism