Surviving the crash

[arakboss]

Nothing to see until all the bankruptcies start cascading downstream of this collapse.

Most of these start ups occupy commercial real estate in one way or another. As they go bankrupt that real estate will join the other surplus unoccupied commercial real estate. If you own commercial real estate REITs you might want to reevaluate your position sizes in them?

If they could convert the underutilized commercial real estate space into residential housing we could benefit from the commercial real estate slump.

It sounds like it would not be an easy process:

Converting offices into housing may prove prohibitive

With the critical shortage of housing, it might seem to make sense to convert empty office buildings into condos or apartments. But it’s not that simple. Willamette Week reporter Sophie Peel has been covering this story and joins us to tell us more.

www.opb.org

 

[arakboss]

Too many.

Most 1st first world countries have shrinking populations (not counting immigration). Most of the pop growth is going to come from Africa. I am optimistic that even Africa's population will fail to grow at predicted levels as their economies develop.

 

[Alexx1401]

Most of these start ups occupy commercial real estate in one way or another. As they go bankrupt that real estate will join the other surplus unoccupied commercial real estate. If you own commercial real estate REITs you might want to reevaluate your position sizes in them?

If they could convert the underutilized commercial real estate space into residential housing we could benefit from the commercial real estate slump.

It sounds like it would not be an easy process:

Converting offices into housing may prove prohibitive

With the critical shortage of housing, it might seem to make sense to convert empty office buildings into condos or apartments. But it’s not that simple. Willamette Week reporter Sophie Peel has been covering this story and joins us to tell us more.

www.opb.org

This part right here they stumble on the truth even though they pretend they don't get it:

From the regulatory and zoning hurdles to the high costs of retrofitting existing structures, in many cases the price of conversion would be far greater than building

What they are admitting but trying to pretend they do not see is the problem is GOVERNMENT. How many agencies throw up road blocks to make sure they can not turn this into a place for "housing". If the price to turn it into a living space is more than tearing it down and building again? It is easy to see the problem is regulators who all want a pay off.

 

[arakboss]

This part right here they stumble on the truth even though they pretend they don't get it:

From the regulatory and zoning hurdles to the high costs of retrofitting existing structures, in many cases the price of conversion would be far greater than building

What they are admitting but trying to pretend they do not see is the problem is GOVERNMENT. How many agencies throw up road blocks to make sure they can not turn this into a place for "housing". If the price to turn it into a living space is more than tearing it down and building again? It is easy to see the problem is regulators who all want a pay off.

Agreed, government needs to get out of the way so housing can be converted, built, etc. Plenty of current homeowners and property owners could contribute to the housing shortage solution if zoning and regulation hurdles were eased.

One area I would like to see government place hurdles is in immigration to the State. We can't build/convert fast enough to out supply the people who want to move here from other areas of the country and world. We need to discourage these people from moving here and buying up housing here. Let's take care of our own before providing for newcomers.

My ex-wife just sold her home in Tigard area in one day for $5000 over asking price of $550k. Seven buyers came through to look at it.

One of our condo neighbors who moved here recently from California and bought his unit, is already moving again but instead of selling his 2 bedroom unit wants to rent it out for $1800 month.

Housing is still nuts around the metro area. It won't get better as long as we have a steady stream of new people coming in from out of state.

 

[ATCclears]

On banking, it seems Wells Fargo had or is having an issue. I think it is a screw up in the bank's IT systems, but it sucks for those who are tight on cash and impacted.

Wells Fargo Warns Customers of ‘Incorrect Balances or Missing Transactions’

www.theepochtimes.com

 

[Alexx1401]

On banking, it seems Wells Fargo had or is having an issue. I think it is a screw up in the bank's IT systems, but it sucks for those who are tight on cash and impacted.

Wells Fargo Warns Customers of ‘Incorrect Balances or Missing Transactions’

www.theepochtimes.com

Very bad timing for them, WF. This probably was just a "glitch" but, with the news all over about another large bank suddenly going under? Then people with a WF account suddenly have problems? This is the kind of thing that can lead to a panic run on the bank at a very bad time.

 

[ATCclears]

Related to SVB, one of the crypto's took it in the nuts.


https://www.wsj.com/articles/crypto...xii989tz9gd&reflink=desktopwebshare_permalink

 

[Jay Walk]

Welcome my son
Welcome to the machine
What did you dream?
It's alright we told you what to dream.

 

[bradsteen]

Related to SVB, one of the crypto's took it in the nuts.


https://www.wsj.com/articles/crypto...xii989tz9gd&reflink=desktopwebshare_permalink

It was called "StableCoin"... Oh, the irony.

 

[Longwalkhome]

Well crap...

https://twitter.com/x/status/1634581559213797377

 

[Xaevian]

Well crap...

https://twitter.com/x/status/1634581559213797377

Recycling morons expecting different results.

 

[The Heretic]

Typical

 

[sobo]

Buy more ammo.
By the way, how many people on the planet?

7.9 billion

If you choose to believe the U.N., world population reached 8 billion in November of 2022.

 

[sobo]

Most 1st first world countries have shrinking populations (not counting immigration). Most of the pop growth is going to come from Africa. I am optimistic that even Africa's population will fail to grow at predicted levels as their economies develop.

The Arabian Peninsula and other Middle Eastern-aligned countries sure do seem to be making an effort to help bolster that declining Western population...

 

[Longwalkhome]

I was grocery shopping today's and saw folks lined up at the ATM machine for cash. First guy had a string of credit cards he was running through for cash.

Hope I bought enough popcorn.

 

[Nick Burkhardt]

 

[Alexx1401]

Well crap...

https://twitter.com/x/status/1634581559213797377

So often people like this "fail upward" over and over again.

 

[Burt Gummer]

I've seen this coming and have harped about it for months. Limited my bank exposure as much as I can over the months.

FDIC is way underunded and will save no one. All necessary for the eventual transition to gov crypto.

 

[sobo]

I've seen this coming and have harped about it for months. Limited my bank exposure as much as I can over the months.

FDIC is way overfunded and will save no one. All necessary for the eventual transition to gov crypto.

Did you see the bill in South Dakota that Kristi Noem just vetoed yesterday? Their legislature was already working at making a government-controlled currency (CBDC - central bank digital currency) and excluding all other cryptocurrency from legitimate use. Ya gotta beware of these clowns...

If you're still asleep, then this should make you very suspicious of your gooberment... Pay particular attention to what she says at the 2:24 to 2:49 mark.

Gov. Kristi Noem: This idea is paving the way for the government to control currency | Fox News Video

Gov. Kristi Noem, R.-Sc., explains why she vetoed a central bank digital currency bill on 'Tucker Carlson Tonight.'

www.foxnews.com

 

[Alexx1401]

Did you see the bill in South Dakota that Kristi Noem just vetoed yesterday? Their legislature was already working at making a government-controlled currency and excluding all other cryptocurrency from legitimate use. Ya gotta beware of these clowns...

I watched an interview with her about that. How many people in her state voted for the clowns trying to hose them and have NO clue what they are trying to do? People have just had it too damn good for too long. Probably going to take a lot of pain to finally wake most of them up.