US Personal Savings Declines -64.8% Year Over Year In November As M2 Money Growth Falls To Lowest In History (0%)

[Moonglow]

I can see that. In the chicken capital of America, not many chickens buy elegant homes.

There are no chickens buying real estate anywhere.

 

[JohnDB]

Some of the top wage earners and lowest wage earners have "retired" or just stopped employment. They are living off of savings and debt....as personal credit usage nationally has risen drastically.

If loan defaults begin to rise....we can see a crisis develop.

 

[Markle]

There are no chickens buying real estate anywhere.

 

[Woodznutz]

In what real estate market do you live?

Dane County, in southern Wisconsin.

 

[Woodznutz]

Only suckers keep their money in banks they make little to no interest.

Some people don't care for the risk and volatility of other investments. I'm a 'nervous nellie', so my dough is in insured savings instruments and A rated or better short-term annuities.

 

[Woodznutz]

And everyone's retirement investments fell between 12% - 30%.

But but but Biden says it's one of the best economies ever!!

Mine increased by 3 percent. Next year it will be 4 percent if interest rates hold.

 

[Moonglow]

I have managed to make 1000% on real estate investments in the area since 1998...

 

[iamwhatiseem]

I have managed to make 1000% on real estate investments in the area since 1998...

Doubt that.
Unless you chose some AMAZING deals - a 1000% gain is virtually unheard of.
1000% gain on 100,000 would be $1,000,000.
Pretty sure you are not a millionaire.

 

[Woodznutz]

Doubt that.
Unless you chose some AMAZING deals - a 1000% gain is virtually unheard of.
1000% gain on 100,000 would be $1,000,000.
Pretty sure you are not a millionaire.

I bought an 8-unit in 1994 with $20,000 of my own money plus $20,000 that I borrowed from my boss. 18 years later the building had put $500,000 in the bank for me in rents, appreciation, and interest. That's a 25-fold increase of my original investment from one property. If I had invested in more properties as I went along the gain on that $20,000 would be in the $millions.

 

[iamwhatiseem]

He said since 1998. Not farfetched.

Sure it is.
Unless you bought some exceptionally high value land, prior to it being high valued, you are not going to get a 1000% return.
That is 10 fold. Even in 20 years that is super exceptional

 

[Woodznutz]

Sure it is.
Unless you bought some exceptionally high value land, prior to it being high valued, you are not going to get a 1000% return.
That is 10 fold. Even in 20 years that is super exceptional

The profit isn't figured by the price of the real estate but what you had to invest to get it, the down payment. From there you leverage the equity to acquire more properties without putting any more of your own money in. Reread my post #29.

 

[iamwhatiseem]

The profit isn't figured by the price of the real estate but what you had to invest to get it, the down payment. Reread my post #29.

yeah no... if you get a 1000% return on a real estate investment and all you paid was a down payment - the IRS will be at your door by the end of the day.
If it were that easy... everyone would do it.
Not that 1000% is impossible, it isn't... but it is extremely rare. 10 fold money?
You put down $30,000, and turn around a make a $300,000 profit? RARE.
It happens... but "all the time"... hell no.

 

[Moonglow]

Doubt that.
Unless you chose some AMAZING deals - a 1000% gain is virtually unheard of.
1000% gain on 100,000 would be $1,000,000.
Pretty sure you are not a millionaire.

Do I need a nametag to be a millionaire or some special attribute of formality?
But yes, I have managed to make 1000% on real estate I purchased in 1998. I was a real dumbass and could have made 5000% had I bought those bean fields in 1987 for two hundred bucks an acre in Rogers Arkansaw now selling at six bucks a square foot.

 

[Markle]

I have managed to make 1000% on real estate investments in the area since 1998...

And I made...1,001%

 

[Woodznutz]

yeah no... if you get a 1000% return on a real estate investment and all you paid was a down payment - the IRS will be at your door by the end of the day.
If it were that easy... everyone would do it.
Not that 1000% is impossible, it isn't... but it is extremely rare. 10 fold money?
You put down $30,000, and turn around a make a $300,000 profit? RARE.
It happens... but "all the time"... hell no.

We're talking over a period of many years. My return on investment was 25X over 18 years. Invested $20,000, return after taxes was $500,000. Most long-term owners of rental property would be similar. Moonglow indicated 24 years.

 

[Woodznutz]

Doubt that.
Unless you chose some AMAZING deals - a 1000% gain is virtually unheard of.
1000% gain on 100,000 would be $1,000,000.
Pretty sure you are not a millionaire.

Millionaires (net worth) are a dime a dozen. I'm one, it's no big deal.

How Many Millionaires Are There in the U.S.? A Look at the Statistics

How many millionaires are in the U.S.? More than you probably realize—and most of them lead pretty normal lives. Find out more here.

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