Real Estate Crash thread

[abraham]

Very. But Outside in the whole is punch worthy.

Venture capital money requires certain paths

[Timberridge]

is complete bullshit.

What about playing in a band until their late 30's with only a garage full of drums and amps to show for it?

I have this friend...he's since recovered nicely though. Never hit it really big unfortunately. But this other friend sorta made it big in his 20's and early 30's, lived the rockstar life for 10yrs and burned thru all his money. Today he's doing gigs in small cities and hippie festivals, enough to make a ok living I guess. Except for last year.

I think you can recover from financial indiscretions made in your 20's and early 30's but you have to have a plan by 33.5. Some people are fuck ups at every age.

[4matic]

Lumber well below its 2018 peak

[Timberridge]

Lumber well below its 2018 peak

Poonam can afford two sticks now.

[liv2ski]

To me “Fuck you money” has always been money saved above your emergency fund, and not in retirement, that could enable you to fund a decent amount of time after telling a job or other situation to fuck off without withdrawing from those other buckets. This isn’t money to set you up forever, just enough to give you a buffer. It isn’t “fuck off forever” money. That’s retirement and/or other passive investments.

And for the record, I’ve never had the luxury of the “Fuck you money”.

Fuck you money is enough in savings or a Lotto annuity to never have to work again IMO.

[Timberridge]

Fuck you money is enough in savings or a Lotto annuity to never have to work again IMO.

Look, the "how much is FU $ ?" could easily turn into another "where is Upstate?" kinda thing. Let's just agree right now it's all relative before this spirals out of control.

[Benny Profane]

We have a thread for that.

What's the number?

Fuck you money is being able to say fuck you on the way out and not being concerned about getting another job.

[liv2ski]

We have a thread for that.

What's the number?

Fuck you money is being able to say fuck you on the way out and not being concerned about getting another job.

Agreed. The number doesn't matter as we all have different needs.

[Buster Highmen]

Let's just agree right now it's all relative before this spirals out of control.

Killjoy.

[4matic]

I'm getting mail from the new home sellers again now that lumber prices are dropping.

[Ted Striker]

Yep.

Lumber finally drops, and the home builders are licking their chops to keep those margins and not pass it along.

[Toadman]

To me “Fuck you money” has always been money saved above your emergency fund, and not in retirement, that could enable you to fund a decent amount of time after telling a job or other situation to fuck off without withdrawing from those other buckets. This isn’t money to set you up forever, just enough to give you a buffer. It isn’t “fuck off forever” money. That’s retirement and/or other passive investments.

And for the record, I’ve never had the luxury of the “Fuck you money”.

Real F U money is spending a few million bucks to buy your local city, county, state and federal election officials each election cycle.

[Toadman]

I'm getting mail from the new home sellers again now that lumber prices are dropping.

I'm sitting on a pile of a depreciating commodity. I'm going to go puke up a kidney. Back in a bit.

[Timberridge]

Pablo Escobar had f u money.

[altasnob]

All cash offers shockingly high for how expensive housing is nationwide, even in expensive market. Between January and April, 23.8% of home sales in the Seattle area went to buyers paying all cash:



https://www.redfin.com/news/all-cash...urchases-2021/

[liv2ski]

Pablo Escobar had f u money.

Yup and look where he ended up.

[XXX-er]

Anyone of you would now have Fuck You money by working/saving/ investing 20K as a teenager

[schuss]

I wonder if google, apple and Amazon trending towards returning people to the office has more to do with their ownership of their campuses versus other companies that are leasing space and see dollar signs in reducing or eliminating their lease costs?

Those cases are a split. As someone that has known workers for those companies and always been in touch with them professionally:
1. They've always had hybrid. Half the people I talked to at Boston's Google campus lived in southern NH and commuted in 2-3 days a week.
2. Most LIKE their peers as effective technology development is easier with whiteboards and colocation as software engineers aren't inherently great communicators.
3. There's a lot of internal code jams and other events that aren't streamed (each Google campus has a theatre for the Friday all hands, though that may have changed)
4. The people getting called back are junior staff, mostly.
5. It may be an attrition plan for "culture commitment" as it's not like engineers in those companies don't have other prospects.

Also, they're all at least slightly cultist with their "company culture"

[mcphee]

Anyone of you would now have Fuck You money by working/saving/ investing 20K as a teenager

Who here had 20k to invest in the '60s?

[liv2ski]

Who here had 20k to invest in the '60s?

I did, but it went up in smoke jk

[Kevo]

All cash offers shockingly high for how expensive housing is nationwide, even in expensive market. Between January and April, 23.8% of home sales in the Seattle area went to buyers paying all cash:



https://www.redfin.com/news/all-cash...urchases-2021/

It's fueled by institutional investors using record low interest rates to access cash and then buy with cash.

[Benny Profane]

Anyone of you would now have Fuck You money by working/saving/ investing 20K as a teenager

Cooda woulda.

[Benny Profane]

It's fueled by institutional investors using record low interest rates to access cash and then buy with cash.

I'll bet you a shit ton of Boomers cashing out of 30-40 year old equity in the old home. Boomer churn.

[RoooR]

It's fueled by institutional investors using record low interest rates to access cash and then buy with cash.

You have any data that supports that? Because everything I've seen is that institutional investors are a paltry share of home sales. If you had said people cashing out home equity to buy second homes / rentals then that's a larger share, but those arn't institutions.

https://www.vox.com/22524829/wall-st...ackrock-bubble

The role of institutional investors is still being studied, but the popularity of the narrative strikes at something dangerous: People want a convenient boogeyman and when they get it, they often ignore the structural problems that are harder to combat. Housing undersupply is the result of decades of locals opposing new home building. It’s not something that can be blamed on Wall Street greed and the nefarious tinkering of a private equity firm. And that’s a much harder truth to stomach.

[TAFKALVS]

I think part of it is large groups of people moving from urban "expensive" places, to rural "cheap" places and bringing a lot of equity with them. And obviously people with big piles of cash from GME and Dogecoin.