Episode-2240- Listener Calls for 6-28-18 — 11 Comments

  1. Try to take our RIGHTS to defend our Life and Liberty away by calling it a PRIVILEGE  and we will FRAK YOU UP! Now let’s take a call on..Plum trees… LOL

    HOOAH!  😀 😀

  2. this video is of a friend of mine talking about the trade tariffs i think you would find it interesting as he pretty much points out how the U.S has been footing the bill for a long time now

  3. Never get peafowl if you are in the suburbs.  They can be kept in the country but only if your neighbors are ok with the sound during mating season.  I’ve had peafowl for 8 years – all of them rescues from people who found them in their neighborhoods and didn’t want them and now, a second generation.

    Mine are free to roam but are fed so well that they don’t go anywhere.  The way you habituate them to your home is that you pen them up for a month or so first.  Males who are friendly with one another will become enemies during mating season and one will hang around on the outskirts then.

    The only time any of the peahens roamed is when they heard other peafowl at a farm nearby and got lost on the way to them.  One my own male started calling again, she was back.  The farmer moved so I have not had that problem again.

    There has been very little written about peafowl.

    Another concern is that they are good mothers and will hatch out their young in 30 days so be careful about a population explosion.  I am in the Pacific Northwest and have never lost any of the adults to predators but have lost some chicks so mothers should ideally be penned.

    I hope this helps!

  4. Thanks for pointing out the plight of millennials in the housing market. I live in an up&coming southern city. My colleagues of similar age pay $1,400 for studios, or $1,600 for 2 bedrooms (w/ roommates) to live close to our midtown jobs. I live adjacent to the city w/ a relative for $350/month until I buy the house from her.

    As a transportation planner(urban planner)+transportation engineer, I constantly tell folks why it’s so ridiculously difficult to find affordable housing in cities nowadays and why traffic is horrible. Partially because developers don’t want to build condos, or houses, for less than $200-300k in cities. Which then causes people to drive in excess of 15-20 miles, from where housing is decently priced, to reach the jobs in the cities.

    Thank goodness technologies like blockchain are coming to the forefront to make job locations more irrelevant. I expect to see an increase in folks who live in rural areas when the tech spreads (particularly when schools move to online models and proximity to schools is irrelevant, no doubt effecting real-estate prices too).

    Interesting episode.

    • We have a similar though more state caused issue here now killing entry level housing.

      So the cities and counties got greedy and started implementing minimum sf restrictions on new builds. Depending on where they range from 1800-2400 square feet, this includes many areas “out in the country”. Unlike many places DFW folks never seemed to mind driving to work even 45-60 minutes one way, so that allowed for a lot of flexibility as to where to live even if you work in Dallas, Fort Worth or any of the major or minor cities, Plano, Irving, Richardson, etc. So this and other things kept our housing sane. Even now what you can buy for say 450K here will blow your mind! 6 bedrooms, fully equipped media room, etc. Like brand new, decked to the 9s and if it was the same house in need of a lot of work you’d pay 1.5-2 million in California for it. 900K-1.2 in say Pennsylvania or New York (upstate).

      But the entry level stuff was crushed by this stuff. In 08 and 09 the revenues crashed as people abandoned homes. New housing starts ground to stop, only custom builds happened for about 5 years. During this time the cities/counties/townships put in these square foot restrictions. So when building came back, no builder can now afford to build a new home in the 90-120K range which was VERY common only 10 years ago here. We now have homes with my estimated real value of about 90-130K selling for 170-220K. Typical 3/2s with 1300-1600 sf, which is the classic young couple “starter home” but now they “ain’t making no more”.

      All the new builds in developments are now starting in the 220s and above. What this means is the market looks red hot, houses are getting multiple offers unseen with almost no contingencies. Yea, um, no, only the 150-200K homes are doing that as millennials attempt to move from renter to buyer. It is the edge of what they can afford.

      If you are selling a 350K home, the market is no better than it was 5 years ago, the houses sell but not super quickly. Why? You can go buy a brand new one, pick out your tile, carpet, etc. for the same price.

      Now the trap of government fucking with shit. Well you’d think it would be simple, remove or reduce the restrictions! Oh no, can’t now. Property Values!

      Take my son they bought a 3/2 with about 1368 sf, nice back yard, not huge but say a triple “postage stamp” as opposed to the single postage stamp most have, even much bigger homes. 4-5 years ago this house would have sold for 105-115 and took effort to sell. They bid 170, with the following contingencies.

      Waved inspection except for the foundation and roof.

      Willing to make up to 3K difference if house under appraised. Meaning if the house had appraised at 167 they had already agreed to bring 3k more to closing to make up the difference.

      Close within 2 weeks of acceptance.

      5,000 in earnest money.

      Five years ago I would have said, we can close in 30 days, full inspection, 500 bucks in earnest money and Ill give you 99K for the place and take it of go screw and likely have gotten the deal!

      So what happens if Saginaw now opens up 1300 sf new builds? Some developer rolls in, starts stamping them out and hits a price point of 129,900, cranking out 5-10 a month once they get rolling. Mr. Rodgers Neighborhood style, 5 floor plans and elevations over and over with the cheap ones at 129 and top end about 225. The 129s get the starters bring in a lot that get up sold a level or three.

      This is great but what about the 500,000 homes that sold at the higher price in the last two years, well, they all go upside down with debt in less than a year or two.

      This leads to a “I got mine” attitude. We are now stuck in this shit, and sooner or later there will be a recession and they will all be upside down anyway. Gotta love the state saying you can’t build a house smaller than _____.

  5. Jack, (just some thoughts from your comment)

    I completely agree that cities and counties are riding this real estate train to the end. Everyone wants a piece of the action when this market is hot. Now with cities and towns tight for cash they want their piece too and they are hosing up the economics of real estate doing so.

    Side thoughts:

    I have a couple of millennial brothers…one who is renting. One who just made a purchase last year.

    The renting bro is sick of rent increases with no asset tied to his monthly rent, but also complains about the crazy real estate prices. He is very conservative about making the jump. But, other than waiting for the next recession he won’t see these issues reside any time soon.

    The bro who just bought last year basically said I pay the $$ now or I pay $$+$$ 3-4 years later. 12 months later he is stands to be correct so far. Interest rates are hiking…prices are hiking….builders can’t build cheap junk fast enough. These 1st time buyers see prices and interest rates going up so they are pulling the trigger and taking a gamble. My bro made a similiar first purchase as your son…very similiar terms, yet,  I understand their points. My bro has a stable job for the most part, and has committed 8-10 years minimum to the area in which he works and lives barring any life changing events right. His purchase makes sense. Your son and my bro could be upside down for a few years but as long as the job security is there and they don’t get the itch to buy for 8+ years they can out grow that. A small gamble that they are forced to take with the cards dealt right now.

    Last thought:

    I think these real estate issues will change the way 1st timers buy and hold on to their 1st houses…tying up even more 1st time real estate Example, my wife and I bought our 1st home during the last recession. Sold healthy, and bought our 30 year home (if all go as planned)  just last year. 1st timers coming in now may not have this type of upgrade strategy at their disposal. They most likely will be staying longer in their 1st homes as it could take them longer to build equity when purchasing above appraisal prices. And so effectively reducing even more 1st time real estate churn.

    Thanks for all you do Jack.



  6. I agree with both of you. You are spot on Jack!

    It also drives me nuts about the sf minimums, particularly when a great alternative is the ‘tiny house’ movement (especially for younger and older people), which is so difficult to get a foothold in municipalities, and even counties now. It’s like you’re screwed either way. Thank goodness traffic volumes & patterns aren’t expected to pick up on my commute until well after I reach FIRE (Financial Independence Retirement Extreme) in about 10 years.

    For those of you looking for decently priced housing, I suggest Craigslist. I’ve always rented on there from individuals (not mega-corporations) and have gotten great deals with folks who are renting out their properties for a direct livelihood (once paying $475 all included for a 1/1 of  2/2 in downtown Orlando!).

    I personally don’t believe in paying more than 15% of total income yearly for housing.

  7. Peacock

    I can only tell you what I know from being neighbors with a Peacock.

    A neighbor down the road has had a single Peacock for years. I pass by his place twice a day. He has a boat load of chickens too.  They all roam freely un-fenced during daylight and disappear into the old barn at night. This all happens close to the road. The barn is about 20 yards from a 2 lane country road were people regularly drive too fast. I rarely see a chicken on the road or see that one’s been hit. I’ve never seen the Peacock on the road. I see him outside alot and it screams at me a good bit when I pass but never near the road.

    The screeching sound they make is god awful and I don’t know how he lives with it but we live about a 1/2 a mile away and it just adds a funny unique sound here if we’re outside.

    I have no info on Peacocks other than this. I’m not sure why but it’s never been close to the road when I go by. Maybe they are smart?

  8. Best way to keep peacocks at your place out of a pen is to talk to all of your neighbors within several miles, let them know you have them, and hand out cards with your phone number.  LOL

    We got a call last year about a peacock that showed up at a place a mile and a half away thinking we might have lost it, and we haven’t had any here for 20-25 years!

  9. “Here is US Government debt, to the penny, as of 7/25/2008:



    That is, $9.541 trillion dollars.
    Here it is on 7/25/2018:



    $21.265 trillion dollars, or $11.72 trillion more.
    The current annual run-rate of the economy is $20.402 trillion.  In 2008, Quarter 2, it was $14.805 trillion, or an actual increase of $5.60 trillion per year from then to today — in nominal, that is, “dollar-denominated” terms.
    Federal government debt added alone was more than double the net increase in nominal GDP over that same period.
    In other words the facts are that the economy has actually contracted, not expanded.  That’s why the common American is finding food more expensive, fuel more expensive, health care and housing more expensive, cars are more expensive etc etc etc when one looks at the number of hours of effort required to pay for each of such things, that is, in an actual “SI” (or invariant) unit.
    The so-called “expansion” since the crash has all been sleight-of-hand — and continues to this day.  Nor is this new; it was in fact going on for a good long time (decades) prior to 2008 as well.