hogjowl
Idiot™
The World According to Randy
- Thread starter randy
- Start date
"Once their delayed maturity kicks in, Millennials will want to own."
I wouldn't exactly call it "delayed maturity". More like a combination of huge school debt and lifestyle choice. When a "kid" graduates with $100k -150 in debt that's going to understandably take time to pay off and effect mortgage approval. Add in overall declining marriage rates and younger folks delaying it MUCH longer and you have a clear demographic trend. When a starter townhouse or condo is 500k that also contributes. Also many watched housing values drop 50% in this area in 2008 crash and I think that spooked them. They saw their parents lose a chunk of their wealth overnight. Suddenly a 2 million dollar home was literally 1 million and it hasn't recovered. That makes a low fee Index fund look magical.
In the DC area we have a huge number of millennials with amazingly high incomes for their age, multiple degrees to pay for and they are renting. How long they will stay out of the market is a subject the real estate industry has researched hard. It will be interesting to see what happens.
Pets aren't allowed in rentals ? Since when ? We are blowing through tons of Pet Stain off in rentals. Probably 60% of our move outs have urine issues. Even apartments allow pets here with a $250 pet deposit.
I really hope you rug guys do well and don't think I'm rooting against you because I'm not. Just hedge your bet and if you are someone not already invested and thinking of putting $75,000 or more into a rug operation, don't. Test it with a simple wash pit and drying rack. You can construct one cheaply after watching a few videos on youtube. Go slow before gearing up to clean a billzillion rugs. Then if you are rolling in rugs, go to auctions and buy the equipment used at 5%-20% on the dollar. The amount stuff was selling for at a local bankruptcy auction I attended shocked me. For example: I bought a like new US products King Cobra 1200 for $250. Sold the wand for more than that. A HOST liberator $270 plus auction fee. One guy from Pennsylvania bought all the rug plant stuff and had a moving truck on pick up day. I didn't know enough about the brand of that stuff to buy & flip but he was rather pleased that he got it all and was the only bidder.
Go slow if you are thinking of jumping in , test everything conservatively and ignore the salesman's projected earnings claims and the shills. I remember when our industry went through the $28,000 autodialer craz fraudulently propagated by shills being paid $500 to help their fellow cleaners be a victim. That business model was: Big Cleanfax AD, recorded message, fake PAID references / SHILLS and a really good sales pitch.
"Everyone is getting into it. It's the next big thing. Guys are making huge bank $$$$$ all over the country. We sold our cleaning business for millions to sell the system. Taking the industry by storm. bla bla bla".
Slick ad +slick sales pitch+ easy finance = broke carpet cleaner
I wouldn't exactly call it "delayed maturity". More like a combination of huge school debt and lifestyle choice. When a "kid" graduates with $100k -150 in debt that's going to understandably take time to pay off and effect mortgage approval. Add in overall declining marriage rates and younger folks delaying it MUCH longer and you have a clear demographic trend. When a starter townhouse or condo is 500k that also contributes. Also many watched housing values drop 50% in this area in 2008 crash and I think that spooked them. They saw their parents lose a chunk of their wealth overnight. Suddenly a 2 million dollar home was literally 1 million and it hasn't recovered. That makes a low fee Index fund look magical.
In the DC area we have a huge number of millennials with amazingly high incomes for their age, multiple degrees to pay for and they are renting. How long they will stay out of the market is a subject the real estate industry has researched hard. It will be interesting to see what happens.
Pets aren't allowed in rentals ? Since when ? We are blowing through tons of Pet Stain off in rentals. Probably 60% of our move outs have urine issues. Even apartments allow pets here with a $250 pet deposit.
I really hope you rug guys do well and don't think I'm rooting against you because I'm not. Just hedge your bet and if you are someone not already invested and thinking of putting $75,000 or more into a rug operation, don't. Test it with a simple wash pit and drying rack. You can construct one cheaply after watching a few videos on youtube. Go slow before gearing up to clean a billzillion rugs. Then if you are rolling in rugs, go to auctions and buy the equipment used at 5%-20% on the dollar. The amount stuff was selling for at a local bankruptcy auction I attended shocked me. For example: I bought a like new US products King Cobra 1200 for $250. Sold the wand for more than that. A HOST liberator $270 plus auction fee. One guy from Pennsylvania bought all the rug plant stuff and had a moving truck on pick up day. I didn't know enough about the brand of that stuff to buy & flip but he was rather pleased that he got it all and was the only bidder.
Go slow if you are thinking of jumping in , test everything conservatively and ignore the salesman's projected earnings claims and the shills. I remember when our industry went through the $28,000 autodialer craz fraudulently propagated by shills being paid $500 to help their fellow cleaners be a victim. That business model was: Big Cleanfax AD, recorded message, fake PAID references / SHILLS and a really good sales pitch.
"Everyone is getting into it. It's the next big thing. Guys are making huge bank $$$$$ all over the country. We sold our cleaning business for millions to sell the system. Taking the industry by storm. bla bla bla".
Slick ad +slick sales pitch+ easy finance = broke carpet cleaner
