That's a worst-case scenario but if that happens a rental is an asset if it's paid off, or at least the rental income safely cash flows the mortgage. The odd thing about rent prices is that in hard times they tend to go up because more people are selling their house as they need money but they still need to pay for a place to live so the demand for a rental house goes up. Also if the dollar collapses, which would likely be through inflation, the house would likely just go up as the value of the house didn't change, the value of the dollar changed. This is the same idea as gold that it doesn't lose value as the dollar does. They aren't making more land and they are finding less and less gold every year but dollars are printed faster and faster.
It can certainly be a liability if you are too leveraged and then suddenly hard economic times get you fired or your business shut down and cause you to lose income.
I think this is why I personally steer away from Reits as they react to the market trends even though the underlying real estate doesn't change. Take Realty Income for example. They are a really renowned Reit and yet the stock price for investors has done poorly this year. Even though real estate prices, for the most part, are at all-time highs and none of the tenants we're missing rent payments more than usual. Since it is a stock is reacts to market panic sells and which defeats the purpose of real estate.
This is stupid. This was introduced by bill posey of FL-8. He was elected in 2008...wonder why he's introducing it now? So he can look good for optics, knowing this will never even see a vote in committee, let alone the floor. Don't fall for these charades because when Bill Posey was in the majority he never introduced this and when he's back in the majority this bill will never be submitted again.
Democrats and the media will never like you. They will label you anything they can as long as people are too stupid to actually research this stuff. They called Regan a fascist... the man who literally fought communism and fascism all around the world. There is no way to appease democrats. F Cheney but by doing this Dems won't like you, they will only use it as ammo to keep calling you racist. We have to stop playing their game.
I think this is a good community-focused attitude. We don't need to be self-dependent but dependent on good people who will, in turn, help our community. I'm very on board with this vision and will work to make it a reality in whatever ways I can.
I saw a post on here today talking about Trump making a bank. I don't think that we need to look to Trump to fix all our problems but I certainly agree with the sentiment and I think it's exactly what you're talking about.
Love the idea of each person taking it on themselves to learn skills. Not only is that an easy business opportunity but we create a sense of self-dependence. I think that's what my thoughts really revolve around. I want us to be self-sustaining and have options and I think if everyone did their best to take control monetarily we would see some change. Certainly not the end-all solution but it can't hurt.
I think the idea of making a conservative economy of sorts is a good idea as well. We get a vote with every single one of our dollars so when we buy from amazon we are voting for Bezos to have more money and thereby giving him more votes.
Not that I have to be the person but I will certainly try to compile a list of companies that are good that we can patronize and post it here.
I largely agree I don't think the dollar will collapse but inflation is a thing, and the tax laws, for now, massively favorite property owners. I would have a hard time buying in a big city for those various reasons. The rental mandates preventing evictions are still in place in many cities and as an investor, I don't think you shouldn't take that risk.