Instead of boring my readers with the usual plethora of charts, rants, foreclosure nightmares, and stories about the reality we are beginning to revisit from 2007, I shall start this brief posting with strippers.
Yes, strippers.
Remember this famous scene boys and girls?
Now what story in the world would trigger this immediate thought to this scene? From the New York Post this weekend:
OnlyFans model with three homes says it’s ‘understandable’ for landlords to raise rent
While this story is focused on a model in Australia, multiply that by one thousand in the United States.
Then think about all the ads one might have seen in the past decade for real estate investing, how housing is only going to go up because America’s new “immigrants” will need a place to live, and that it’s smart to take out home equity loans to invest in whatever.
This particular sentence from the article above is what I fear is the biggest warning yet for those who bet their lives and fortunes on real estate never going down:
“I’m very happy to have cracked into the property market and I only want to keep adding to my portfolio,” she said.
“I never, in a million years, would have imagined I would be a landlord to three properties by the time I was 24.”
Sadly, it almost always ends in tears.
Then, and only then will we get the inevitable government bailout along with a concurrent nationalization of America’s residential real estate sector.
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