You don't sell shit for $1 unless you can't get out, and you don't want to be stuck with the burn for upkeep, taxes, or liability
So Canadian reminds me of the $1 boats, you used to be able to buy real floating 'ships' in Canada for $1, same deal it might cost the owner $100k USD to 'junk' a boat for scrap, based removal of toxic waste, it was cheaper for an owner to just sell for $1 and make it somebody else problem
This is the end of a 19th century global dream and the break up is not pretty. New York is hopelessly corrupt and New York City office towers are like railroad melons.
Every american city is ran by the same class of assholes, grifters have gone into every town and invented 'city managers' who have managed to find billions of USD diamonds in the rough by suddenly charging rural community's $500 USD month for public water, and $200/mon for trash collection, .... $500 for sewage whether home is occupied or not;
Once the city managers have millions of budget surplus they write themselves million dollar salarys and pensions and hire a bigger staff to fleece the locals even more; The only thing old timers can do is 'vote with their feet'
Like Madoff said years ago, "You all accuse me of running a PONZI, the entire US-GOV financial system is one big Ponzi"
Madoff should know;
The intelligent thing now is to have NO exposure to the system, run, cut your losses, and stockpile;
This is one of those situations where there is no rebound on the horizon; That there is no investor of last resort, because nobody wants to hold the bag;
Like Detroit, you can buy a home for $100 like ten years ago, why? Cuz the property tax is $5,000 USD on that home, more than its market value, and the GOV still goes after the owner of record for taxes;
Every liberal city is this way, even people who sell & run from California are still hounded for money long after they leave California and dispose of all assets in California;
Still where the American flees the several states ruled by D.C. are in the head and in the environment. Big Boss man is still there. I liked the idea 50 years ago of
buying land with water backed up to a Federal or State forest with the idea of village so when the crash comes a degree of safety would be had. Never did find myself working to make it happen. Now in the speeding up crash in some ways in my decaying Polis with a real estate crash and people needing shelter could make parts of downtown flourish once again. The City could float a bond to create housing in the abandoned malls or stores that cannot be torn down. Or decide to go Vegas. That could be a big win for the Coast Miwok.
The City is feral but so far not feral enough to force a change of heart. More of violence against person and car property and naturally burglary, massive break and enter operations into bike shops, restaurants, tourists having cars ransacked. The City is faced with disgruntlement but the power of habit is too strong to break I think. And 26% of the population since 2020 is gone gone gone beyond. "The Moved And The Dead," are not discussed in regards to the Dead. They are Grateful. https://youtu.be/aO1PdfeQEIk
Well I would prefer to own the land far off the road, and abutting the fed lands, in seclusion & privacy.
But you city dwellers, can't get any worse than city dystopia we all know so well, like 'Omega-Man" Heston, he could go shopping and get anything or enter any building;
The problem of course is your rats, +50 years ago they were handing out flowers, and talking 'free love' today they're killing for sneakers, or just for fun.
People living in old building's lighting fires, just means a huge fucking fire, unless its all made of brick, well the good news is all the stuff that burns will be burnt;
Ah but tis the magic of money which makes it so. All in a dream world. True, a durable dream, but all wake up one day not at all. When the dreamer dies what then of the dream? When the dream dies before the dreamer isn't this more terrible? Grown ups vaccinated. Grown ups forced kids to vaccinate. No dreams in these grown ups.
You know it just depends where you go and how much of a target one chooses to be. I am indifferent to the grit after 36 years and rarely am in it. I see it on my block in doorways now and then though or walking towards downtown a couple blocks encounter alley campers. I came to SF as a kid and moved here at 30 and never looked back. To each their own.
Great post, I just saw this, now I don't have to do a post on this subject.
A real HARBINGER in my most humble opinion.
https://www.zerohedge.com/markets/who-could-be-next-largest-canadian-pension-fund-sells-manhattan-office-tower-1
You don't sell shit for $1 unless you can't get out, and you don't want to be stuck with the burn for upkeep, taxes, or liability
So Canadian reminds me of the $1 boats, you used to be able to buy real floating 'ships' in Canada for $1, same deal it might cost the owner $100k USD to 'junk' a boat for scrap, based removal of toxic waste, it was cheaper for an owner to just sell for $1 and make it somebody else problem
This is the end of a 19th century global dream and the break up is not pretty. New York is hopelessly corrupt and New York City office towers are like railroad melons.
Every american city is ran by the same class of assholes, grifters have gone into every town and invented 'city managers' who have managed to find billions of USD diamonds in the rough by suddenly charging rural community's $500 USD month for public water, and $200/mon for trash collection, .... $500 for sewage whether home is occupied or not;
Once the city managers have millions of budget surplus they write themselves million dollar salarys and pensions and hire a bigger staff to fleece the locals even more; The only thing old timers can do is 'vote with their feet'
Like Madoff said years ago, "You all accuse me of running a PONZI, the entire US-GOV financial system is one big Ponzi"
Madoff should know;
The intelligent thing now is to have NO exposure to the system, run, cut your losses, and stockpile;
This is one of those situations where there is no rebound on the horizon; That there is no investor of last resort, because nobody wants to hold the bag;
Like Detroit, you can buy a home for $100 like ten years ago, why? Cuz the property tax is $5,000 USD on that home, more than its market value, and the GOV still goes after the owner of record for taxes;
Every liberal city is this way, even people who sell & run from California are still hounded for money long after they leave California and dispose of all assets in California;
Still where the American flees the several states ruled by D.C. are in the head and in the environment. Big Boss man is still there. I liked the idea 50 years ago of
buying land with water backed up to a Federal or State forest with the idea of village so when the crash comes a degree of safety would be had. Never did find myself working to make it happen. Now in the speeding up crash in some ways in my decaying Polis with a real estate crash and people needing shelter could make parts of downtown flourish once again. The City could float a bond to create housing in the abandoned malls or stores that cannot be torn down. Or decide to go Vegas. That could be a big win for the Coast Miwok.
The 'city' will go feral, and the GOV rats will not show up to work, once their pay is in IOU's and their pension promises are gone with the wind;
The City is feral but so far not feral enough to force a change of heart. More of violence against person and car property and naturally burglary, massive break and enter operations into bike shops, restaurants, tourists having cars ransacked. The City is faced with disgruntlement but the power of habit is too strong to break I think. And 26% of the population since 2020 is gone gone gone beyond. "The Moved And The Dead," are not discussed in regards to the Dead. They are Grateful. https://youtu.be/aO1PdfeQEIk
Sounds like a shit-hole to me, you don't leave cuz its all you know ... feces
One constant about dogs & humans they will adjust to any & all levels of abuse, bad-food, and living in shit
All the dead know is that it was better to be alive, ... full metal jacket
Well I would prefer to own the land far off the road, and abutting the fed lands, in seclusion & privacy.
But you city dwellers, can't get any worse than city dystopia we all know so well, like 'Omega-Man" Heston, he could go shopping and get anything or enter any building;
The problem of course is your rats, +50 years ago they were handing out flowers, and talking 'free love' today they're killing for sneakers, or just for fun.
People living in old building's lighting fires, just means a huge fucking fire, unless its all made of brick, well the good news is all the stuff that burns will be burnt;
It's not really a $1 building if it comes with millions of dollars debt.
Not good for the retirement funds, hence more MAIDS.
Ah but tis the magic of money which makes it so. All in a dream world. True, a durable dream, but all wake up one day not at all. When the dreamer dies what then of the dream? When the dream dies before the dreamer isn't this more terrible? Grown ups vaccinated. Grown ups forced kids to vaccinate. No dreams in these grown ups.
Yes, the children will not be happy about that.
Putting it mildly.
You know it just depends where you go and how much of a target one chooses to be. I am indifferent to the grit after 36 years and rarely am in it. I see it on my block in doorways now and then though or walking towards downtown a couple blocks encounter alley campers. I came to SF as a kid and moved here at 30 and never looked back. To each their own.
New buyer bought it for $3.00
Took out an equity loan on it for $2.00.
NYAG says it was overvalued at $2.00 and is seeking a 379 gazillion dollar judgement.
𝕱𝖚𝖈𝖐 𝕭𝖎𝖉𝖊𝖓
🤡🌎
and 🎶 you can shove your vaccine mandates up your АSS 🎶
ok, I went ahead an did a post, because I wanted to write lots of comments and not pollute your site;
https://bilbobitch.substack.com/p/whats-america-really-worth-today