Bellingham, the ugly truth.... (Seattle: suite, property management, basement)

[Ruth4Truth]

Originally Posted by MechAndy

Hmm,
The last time we had a situation like this was The Great Depression.
Some are saying that the economy is doing good, but I don’t really believe that when I see the prices at McDonalds.
Some say it’s the influx of cheap fentanyl and acceptance of drug abuse, I can see that.
I think it is because of multiple issues that are not properly being handled by this leadership.
This administration owns this.

No, actually, it doesn't, IMO. While some of the growth in B'ham was/is due to retirees moving in (which has been going on for at least 20 years now, irrespective of who controls Congress and the White House), much of the problem with astronomical growth in the RE and rental sectors has to do with Real Estate Investment Trusts being allowed to run amok acquiring all manner of properties, including mobile home parks and foreclosed homes, and milking them to use people's rent money to pay dividends to the REIT investors. This phenomenon has crept up on the housing market since the late 80's/early 90's, and now has exploded nation-wide. REITs also build new housing in the form of apt. buildings and SFH's both, for rental income. Their m.o. (as you've undoubtedly read in my posts before) is to raise rents annually while cutting services. There is no rent stability with REIT-owned properties.

REITs are the darlings of investment advisors, because (so far) they're stable and crank out steady income for investors along with appreciation of value longer-term. Your retirement pension most likely is partially invested in REITs, which makes you, as well as our Congressional representatives via their pension funds, part of the problem. You unwittingly may be invested in housing bubbles that contribute to homelessness.


We should all check our retirement accounts to divest from any REITs that may be in the portfolio, and write our representatives in state and national governments to put limitations on REITs, or get them out of the rental business altogether.

[MechAndy]

We’re going to disagree on this and that’s ok.
I don’t disagree about the REITs but there is a lot more to it than that.
It’s nation wide and due to bad social and economic policies.

My point is that there is a lot going on here and the last time we had it so bad was during the Great Depression when hobo’s roamed the country and food lines went empty.

When was the last time you saw it this bad?
The worst I seen and been effected by was the Carter administration.
That was real bad.
It even changed the country but it wasn’t this bad.

[Thealpinist]

Originally Posted by MechAndy

We’re going to disagree on this and that’s ok.
I don’t disagree about the REITs but there is a lot more to it than that.
It’s nation wide and due to bad social and economic policies.

My point is that there is a lot going on here and the last time we had it so bad was during the Great Depression when hobo’s roamed the country and food lines went empty.

When was the last time you saw it this bad?
The worst I seen and been effected by was the Carter administration.
That was real bad.
It even changed the country but it wasn’t this bad.

These are facts

[kavm]

Originally Posted by MechAndy

We’re going to disagree on this and that’s ok.
I don’t disagree about the REITs but there is a lot more to it than that.
It’s nation wide and due to bad social and economic policies.

My point is that there is a lot going on here and the last time we had it so bad was during the Great Depression when hobo’s roamed the country and food lines went empty.

When was the last time you saw it this bad?
The worst I seen and been effected by was the Carter administration.
That was real bad.
It even changed the country but it wasn’t this bad.

How much does your politics shade your "facts"? The definition of depression is a shrinking economy and high unemployment. What you see as Great Depression is 3.1% rate of economic growth in 2023. And, the job growth and outlook is very positive - to the extent that Fed is slowing the downward posture on interest rates despite diminishing inflation numbers.

https://www.wsj.com/economy/gdp-us-e...-2023-9fc372f0

Obviously the Covid era had a lots of shifts and led to economic challenges and shifting winds across the globe - and US is a part of the global economy, irrespective of how much you politically dislike the current administration.

If your past responses are any indication, you will respond by some aggressive brush off but try sharing some facts. What you see around your corner is not the story of the US or WA economy, it's just your political discontent.

[Thealpinist]

Originally Posted by kavm

How much does your politics shade your "facts"? The definition of depression is a shrinking economy and high unemployment. What you see as Great Depression is 3.1% rate of economic growth in 2023. And, the job growth and outlook is very positive - to the extent that Fed is slowing the downward posture on interest rates despite diminishing inflation numbers.

https://www.wsj.com/economy/gdp-us-e...-2023-9fc372f0

Obviously the Covid era had a lots of shifts and led to economic challenges and shifting winds across the globe - and US is a part of the global economy, irrespective of how much you politically dislike the current administration.

If your past responses are any indication, you will respond by some aggressive brush off but try sharing some facts. What you see around your corner is not the story of the US or WA economy, it's just your political discontent.

He/She raises valid concerns. Honestly we are living in a silent depression.

Yes corporations are having record profits at the expense of ordinary workers. Expanding stock portfolios doesn’t translate to a healthy economy for the majority.

What you don’t see in those numbers is the record number of Americans who dropped out of the work force. Many Americans are reliant on a trifecta of welfare and disability benefits. This somewhat masks the issue we are facing. I should add that many of the jobs created post COVID are part time with bad benefits. The middle class in America has been severely degraded. Inflation and housing costs have not helped and a record number of homeless are falling through the cracks.

Doesn’t matter what political party you align with. These are facts that are seen on the ground and showing as symptoms in both rural and urban America. The problem is that the top 25% of the population has the luxury of ignoring it for now.

[MechAndy]

I’m actually a liberal for the most part and always have been.
Pro labor, education, healthcare and pro freedom.
I’m also anti war and am somewhat fiscal minded.
I’m just not an over the edge liberal so some might get my ideals confused.

[kavm]

Originally Posted by MechAndy

I’m actually a liberal for the most part and always have been.
Pro labor, education, healthcare and pro freedom.
I’m also anti war and am somewhat fiscal minded.
I’m just not an over the edge liberal so some might get my ideals confused.

Your politics is quite evident, irrespective of how you see yourself. In any case, I am debating that. Everyone is entitled to their politics, just not their facts. Yes, the economy in the early Biden years wasn't in great shape - but the whole Covid pandemonium was a big deal for the either world - not just health wise but also economically. And, the Covid-related effects on the economy were complicated with long tail.The economy is doing rather well now. That's the objective fact. As to people struggling - there are people struggling even in booming economy, and a different politician, even an orange Jeasus, isn't going to change that.

[MechAndy]

I’m more of an old school liberal.
Somewhat similar with beliefs inline of Joe Rogan, Bill Maher or Elon.
When you guys moved the line I suddenly became a right winger.
Funny how you guys did that .

[kavm]

Originally Posted by MechAndy

I’m more of an old school liberal.
Somewhat similar with beliefs inline of Joe Rogan, Bill Maher or Elon.
When you guys moved the line I suddenly became a right winger.
Funny how you guys did that .

I do not know what your self-described labels have to do with the thread. I only responded to the substance of your post which was about the economy - not what you think of yourself, off as that may be. For me, it's a case of walks like a duck, talks like a duck and is probably a duck.

[04kL4nD]

Originally Posted by MechAndy

I’m more of an old school liberal.
Somewhat similar with beliefs inline of Joe Rogan, Bill Maher or Elon.
When you guys moved the line I suddenly became a right winger.
Funny how you guys did that .

One of these things is not like the other, and if you're not sure which, you might want to stop calling yourself a liberal...

Anyway, I'm pretty liberal too, but I guess not by WA or CA standards anymore. I have probably shifted a tad toward the right because the "burn it all down because I'm not getting my way and getting every single thing I want" crowd has made me feel like I've been a bit gaslight by the ultra left wing of the party, but there's no way in Hell I'll ever vote for Trump or anyone who supports fascism and lying about elections being 'stolen' when they don't get their way.