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   Bread up, Bro (sickburnbro@poa.st)'s status on Friday, 08-Nov-2024 06:02:12 JST Bread up, Bro
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     ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame: (nitrodubs@poa.st)'s status on Friday, 08-Nov-2024 06:12:57 JST ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:

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     • BroDrillard
     @BroDrillard @sickburnbro There’s millions of millennials and zoomers living with relatives, so someone will rent those apartments… At the right price.
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     ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame: (nitrodubs@poa.st)'s status on Friday, 08-Nov-2024 06:12:58 JST ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:

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     @sickburnbro It’s basic supply and demand.
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     BroDrillard (brodrillard@nicecrew.digital)'s status on Friday, 08-Nov-2024 06:12:58 JST BroDrillard

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     • ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:
     He's stating the obvious. Once the gov doesn't pay insane money to landlords to house immigrants those houses will be put on the market.
     
     I've seen a lot of apartments built in the last few years. If the demand shrinks those will be in trouble. They should not have been built in the first place.
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     ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame: (nitrodubs@poa.st)'s status on Friday, 08-Nov-2024 07:19:36 JST ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:

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     • BroDrillard
     @BroDrillard @sickburnbro I’m not saying there wouldn’t be financial pain, but I don’t think it’s as bad as 2008 was.
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     BroDrillard (brodrillard@nicecrew.digital)'s status on Friday, 08-Nov-2024 07:19:36 JST BroDrillard

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     • ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:
     My gut feeling is that it's much worse but hidden/buried deeper.
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     BroDrillard (brodrillard@nicecrew.digital)'s status on Friday, 08-Nov-2024 07:19:37 JST BroDrillard

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     • ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:
     Yes. Those reduced rents won't cover the debt for the inflated building costs though.
     
     I'm guessing most of these building projects were initially financed when interest rates were low. Then they were built with inflated prices. Those commercial loans will come up in the not-too-distant future for refinancing - with higher interest rates. If on the top of that rents and/or occupancy go down, then the companies involved will be in (deserved) trouble.
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     ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame: (nitrodubs@poa.st)'s status on Friday, 08-Nov-2024 07:20:52 JST ☢️ :hacker_s: :hacker_n: :hacker_e: :hacker_e: :hacker_d: :what_a_shame:

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     • BroDrillard
     @BroDrillard @sickburnbro The real rot is in commercial real estate. Especially in retail storefronts.
     
     A retail storefront can basically be used for retail sales and occasionally as churches, and that’s about it. They aren’t useful for much else.
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