Sarasota Rents Are Skyrocketing Again (Holiday, Hudson: renting, mortgage, mattress)

[Sunshine Rules]

It's not just real estate here, they are also buying up vast quantities of FARM land:

By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the Agriculture Department.

That includes the acquisition of Smithfield Foods, which put 146,000 acres of American farmland into Chinese hands.

Other large buyers of US farmland include Canadian and German investors.

[KMerendino]

Fact ^^

[KMerendino]

Years earlier they were buying up lots of houses in the Lockwood corridor, and were renting them out to many other Asian groups/newcomers. They were popping up everywhere. I can't remember one subdivision must have been 30% Asian or South Asian all of a sudden, It was odd.

[Ravi Chaud]

Silverlake^ ?

[90greatneck]

Reading through this forum tells me all I need to know about living in Florida. And why I wouldn't live there.It's not the high rents. The 'dialog' pretty much encapsulates the Florida culture.

[pilotjoe]

Not sure making life decisions on what a few people say on a anonymous chat board is all that wise.

[pilotjoe]

Rents rising because real estate is rising. FED printers are running 24/7 printing unlimited cash. This is causing inflation. Which govt will tell you is almost 6%. But real cost of living is much higher if you use gasoline or eat food.
People say that hard asserts like real estate or Bitcoin or equities are rising but in reality dollars are just losing value. Wealthy people see this and are borrowing cheap cash at almost zero interest to buy hard assets. Blackrock Hedge fund CEO recently wrote “buy anything right now that the govt can’t print” (was forced to take it down) but Blackrock is buying huge amounts of real estate. They see what’s happening.
Politicians over promise (both parties) to get votes. The US cannot live within its means anymore. What can you do? Buy hard assets if you can. Live within your means.

[beach43ofus]

Originally Posted by pilotjoe

Rents rising because real estate is rising. FED printers are running 24/7 printing unlimited cash. This is causing inflation. Which govt will tell you is almost 6%. But real cost of living is much higher if you use gasoline or eat food.
People say that hard asserts like real estate or Bitcoin or equities are rising but in reality dollars are just losing value. Wealthy people see this and are borrowing cheap cash at almost zero interest to buy hard assets. Blackrock Hedge fund CEO recently wrote “buy anything right now that the govt can’t print” (was forced to take it down) but Blackrock is buying huge amounts of real estate. They see what’s happening.
Politicians over promise (both parties) to get votes. The US cannot live within its means anymore. What can you do? Buy hard assets if you can. Live within your means.

Post of the month thus far ^^^. pilotjoe is giving you his crystal clear view from the 30,000 foot level, & the smart money proves that he's right.

The strategy Blackrock is taking, & other big investors, in buying real estate, & hard assets, will payoff for them when the Dollar crashes. Most of us don't have the ability to do what they are doing though.

IMHO, as a layman, & not a pro financial planner, for most of us, getting totally out of debt asap is job #1. Your goal should be a paid off roof over your head (get out of the rental situation), & have a paid off reliable car. A paid off 2 bedroom 1,200 sw ft condo is better than a 3,000 sq ft home w/ a mortgage. A paid off newer Toyota Camry is better than BMW w/ 72 months worth of payments.

You should have at least a 6-month rainy day fund stored as Silver Eagle coins in a safe deposit box. Today, those coins are worth ~$30/ea., which is a good amount to buy gas or groceries, or pay utility bills (in person of course).

If you have mutual funds at work, see if you can move some of your savings into an ETF called GLD (Gold). See if you can move some into "TIPS" (an investment that guards against inflation):

https://www.treasurydirect.gov/indiv...ips_glance.htm

Try to move stock positions into the commodities industry sector, or things called REIT's.

There are things we can do to protect ourselves to some extent. You do not want to be a renter when things go really bad, because rental prices in the future could make today's rents look tiny. The inflation & rent price escalation we are seeing now are scary indicators.

The Fed can't raise interest rates much to control inflation, due to the impact that would have upon the interest payments on our debt. Do whatever you can do to get out of a rental as soon as possible.

[KMerendino]

His view is his view, which is fine for sure !


As a WS former exec, I'm calling BS ^^ on your "advice" in too many ways to mention, but you are certainly, without a doubt entitled to advocate your position and investment strategy.


Yes, the Fed controls monetary policy, but it has little influence on commodity prices that affect daily life of Americans.


I have no interest however in debating this issue or others really. Believe and act as you wish for your own financial interest and security. One shoe doesn't fit all.


I will say this however. Renting is not "permanent". Try to unload a house when crap hits the fan. Renters can move and even move to a different city or state. Not that this is a panacea at all, it simply suggests that renters are mobile, without property tax liability, HOA liabilty or even HOI liability...in extreme situations a renter can go to a flop house or rent a room from another "homeowner" LOL (who is getting screwed maybe).


That said, any roof over your head seems paramount. However, the "renter" has clearly more "options" (if he has a mortgage, like most people).


To each his own. I don't give investment advice to people I DON'T know...that's inappropriate most times.


Be careful !! most Americans DO NOT own stocks...period..full stop...and they damn sure don't know the diff between a REIT and a CMO, or jumpZ

[beach43ofus]

The main message Shekkie is get out of debt, and get out of that rental apartment asap.

Dave Ramsay's making millions by telling people that, & I do it for free!