Blog : Will Our Children/Grand Children Have a Future?

2379 posts
6/12/2021 10:48 am

Will Our /Grand Have a Future?

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4208 posts
6/12/2021 10:58 am

Some guy said something about the great reset at another site. It went something like this: The great reset is ZERO! Everything you own will be taken away which means you start with nothing, zero!

Does that mean only those who consider themselves better than us get to keep everything?

Something to think about.

MrsJoe 76F

17409 posts
6/12/2021 11:23 am

When my daughter bought her house in Tulsa last year, the market was moving so fast that the home she went to see (she lives in CA) was already sold and the realtor took her to see a different one. It was not right for her, but there was another one on the block that had just gone on the market that morning.
They looked at it, it was perfect for her, and the realtor told her to put in a bid, close to the asking price or just do the asking price, but put a time limit that the offer is good.... like 5 pm that evening. He said that as soon as the house hit the internet, there would be people within a couple days, making bids higher than the asking price. At 4:45pm that evening, the owners called to say they would accept her offer.
She looked at similar homes in CA that were priced THREE times higher. She also told me that her brother in law in ID is concerned because people were moving there from CA, driving up the price of homes, so young people were having a hard time finding homes they could afford.
Oh, and decades ago, farm land in our area was being bought up by corporations from other countries and cash rented to area farmers, so this may not be something new.
Am I concerned? Some, but not overly panicked.

Be a prism, spreading God's light and love, not a mirror reflecting the world's hatred.

Nileyears replies on 6/12/2021 12:14 pm:
I've been hearing it's a seller's market for now, but as you stated about the corporations buying up land, for people like us, it isn't a buyer's market. We have foreign countries buying up land here in Texas, even oil fields in the Midland, TX area. In 2015 a businessman who is a member of the CCP bought 130,000 acres of land near Laughlin AFB, wanting to make it a wind farm and connect to our Texas power grid. Didn't happen, yet, but China is purchasing a lot of land here. I think a bill was passed that denies any foreign country to connect to our power grid. The biggest problem was also how close the land is to the AFB. If you didn't know, Texas has it's own power grid, we don't rely on outside sources. I love my state, wouldn't want to live anywhere else.

Maudie1 74F

8151 posts
6/12/2021 2:49 pm

It's shocking here in Ireland, especially Dublin, house prices are out of the reach of most young couples, very depressing and worrying. Rents are at an all time high too. I dispair at times. The govement are great at talking but doing nothing to alleviate the problem. God only knows where it will all end.

Nileyears replies on 6/12/2021 3:20 pm:
I kind of figured this was happening around the world, why would the US be the only country feeling the stress? I laugh when I think about the government, do they really think we are clueless? They tax us to death, order us around, make laws that they break, but we would be thrown in prison for, fly around the world in their private jets, yet want us to pay a carbon tax. Try to convince us to eat bugs because now there is supposedly a meat shortage while they eat steak and lobster, and I could go on about how they want us to give up everything that they wouldn't and won't. Sad to think the future generation might be living in cardboard boxes. I think you can tell I don't like our government. Sorry for the rant.

TxJW002 81M

6/12/2021 5:39 pm

Texas having its own power grid is why we had no power at times during the extremely cold weather. The new windmills froze up & did not supply the percentage of energy that was expected.
By being power grid independent we (Texas) ERCOT could not bring power in from the national grid.
When we hit 100 degree days soon rolling blackouts are expected again.
MEANWHILE coal fired plants will sit idle like before.

Renting is the worst thing anyone can do.
Buy----get your name on the paper at a set rate of interest (historically low now) and your home value will go up with the rate of inflation.

Borrow money on a home at such low rates and use cash for all else
I know some who pay off the low interest home loan and pay exorbitant interest for a refrigerator or sofa on a credit card. LOL

A wise person can refinance a paid off home at the low interest rates -------take the equity money and invest it in stocks etc. I know a guy who made 13.7% on money invested in stocks etc. last year.

If you own the home & inflation causes it to go up 10 % annually with little equity tied up in it-----------and you make 13.7% on money you drew out of the home you will have made 10 % on the TOTAL VALUE value of the home PLUS 13.7% on the otherwise dormant money that you pulled out & invested in other instruments. EACH YEAR.

Using money to make money is what it is all about. Stuff that is paid off still has a cost to it because the equity laying dormant in it is earning ZERO.
income.

I always try to do just a LITTLE of what the big boys do a LOT of. LOL
It works more often than not !
Party On!

Nileyears replies on 6/13/2021 8:50 am:
I've lived through plenty of freezing weather here in Texas and this was the first time I lost power during a freeze. There were several factors that go into why we lost power. Federal emissions and other restrictions forced Texas to beg Washington for permission to generate power at higher levels in anticipation of unprecedented demand. Governor Abbott finally received permission from the Department of Energy on February 14th, but by then many facilities found themselves off-line due to freezing conditions.

Politics over people.

Abbott blamed energy generators and even the state Electric Reliability Council of Texas. NBC News in Dallas reported that ERCOT did not conduct any on-site inspections of the state’s power plants to see if they were ready for this winter season. Due to COVID-19 they conducted virtual tabletop exercises instead, but only with 16 percent of the state’s power generating facilities.

This is what is going to happen when going "Green" is the only alternative we have. All it proved to me is wind and solar are not reliable energy sources.

Totally agree that renting is bad, might as well flush your money down the toilet. This isn't about that though. This is about companies like Blackrock that are buying up properties as fast as they are put on the market, even new subdivisions, brand new homes never lived in.

Koffla 68M

12311 posts
6/12/2021 5:48 pm

I am worried about my 27 year old niece. She is about to start her own family this year, and the housing market does not seem stable.

NBA PLAYOFFS
New York Knicks vs Indiana Pacers
.

Nileyears replies on 6/13/2021 9:18 am:
No, it's not stable, it's gone crazy!

Seems all we can do is wait and see where this all ends up.

I wish your niece the best. We can't help but worry, but we can also be there if they need us.

Rocketship 80F

18584 posts
6/13/2021 6:38 am

Other that the current sudden rise in housing prices, I think all the other complaints are the same ones our parents and grandparents made.~~~

Nileyears replies on 6/13/2021 9:43 am:
Really? I don't ever remember my parents or grandparents doing much complaining, maybe a complaint about the weather. You know how farmers are, up before dawn, work till the sun goes down. Too busy working to do much complaining.

Archer62 83F

7099 posts
6/13/2021 9:05 am

REAL ESTATE IS EXPENSIVE HERE ON THE COTE D'AZUR AND BUYING HAS ALWAYS BEEN DIFFICULT FOR MANY PEOPLE. THERE HAS BEEN A LOT OF CONSTRUCTION IN MY PART OF TIME AND RENTS SEEM TO BE LEVELLING OFF BECAUSE OF INCREASED AVAILABILITY. HENCE THE IMPROVEMENTS IN MY APARTMENT BECAUSE THE OWNER KNOWS THERE WILL BE MORE FOR POTENTIAL RENTERS TO CHOOSE FROM SHOULD I KICK THE BUCKET.

Nileyears replies on 6/13/2021 10:31 am:
My former sister in law was living in France for awhile, she was looking at some property to buy there. Can't remember the name of the town, but it was in the southern part of France. I so wanted to join her there and see the property she was looking at, but her daughter got sick here in the states and she came home... she never went back. To her the property seemed reasonable, but then again, she resides in California. Property there is out of reach for most people and rent is triple the price compared to Texas.

Don't kick the bucket yet, enjoy those improvements till they need more improving and then some.