Everything we are seeing both on a personal level and on a corporate level ties back to one truth, without God in the equation there will be no morality. We find these things self evident, that all men are created equal...not all men evolved equal. Regardless of the differences of our founders, and there were many, God was at the center of their beliefs and pronouncements. Government was good because it was ordained by God to push back on evil. But when government no longer believes there is a judgement and ultimate accountability, the government will not act in the people's best interest, even if they say they are. The same is true for corporations. If profit is their god, and the only accountability is to their investors, then slavery is the outcome. So Erick is right. Capitalism without God is no better than Communism. (In some way it may be even worse, because they believe that God is on their side, instead of asking are they are God's side.) They will hold the bible high for photos while stepping on the image bearers of the creator. Unless you see the imprint of God's finger print on your neighbors, you will not pray or work for the welfare of your city. You will call rioting mostly peaceful demonstrations, you will say the border is closed as two million people pour across the border. You will claim someone hands are small, demeaning their manhood, and you will slander your opponent wishing their destruction rather than their improvement. By the way, this is not a Republican or Democratic issue...it is a morality issue that is plaguing both sides. I hope many pause and think about what Erik has said here. We have much to turn from (repent) and we need to pray that In God We Trust, becomes real again. Charles
And when this bubble does burst, guess what happens then? The private equity firms go, hat in hand, to the Feds claiming that they are “too big to fail”, and the Feds will bail them out! Why not? If we can drop $6 trillion on misguided “stimulus”, we can certainly spend more money unnecessarily to bail out a bunch of cronies.
If we decry the political class for its immorality, we need to remember that their power lust is fueled by the money they get from their cronies in what used to be the private sector, but has now become a state supported enterprise. Lather, rinse, repeat.
Here in Ireland the situation is five years down the road- PE owns more and more housing and very few can afford to purchase a 1st home. The government funds new housing construction, and as soon as the properties go on sale, PE firms pay a 20% premium over asking price and a one time10% multi-owner tax; the govt says the money is too good to pass up and is needed to pay for social programs and "green" conversions. Watch the Dems start to tax these purchases as a revenue generator- and the costs passed along to the renters...
I live in north Atlanta and my neighborhood has experienced this. Back in 2008 a lot of homeowners lost jobs and homes and these rental companies came in and bought them up. The rent is high and my neighborhood has been sliding downhill ever sense. I want to move but can't afford houses in the area where I want to move so I'm just staying out for now I totally agree with Erick on this and once again, innocent people are going to get hurt by the greed of a few!
My wife is a Real Estate Agent and sees some of this crazy stuff and yes agree that at some point this model of Rental Only neighborhoods will come crashing down. She sees people today willing to waive the appraisal gap and purchase homes for more than they are worth. Now that is "okay" if you plan to be in the house for 10 or 20 years or more.. even if the market take a downturn. But if you suddenly need to move or want to move then you could be upside down and end up losing. The question is how can this be better managed without MORE regulations and bigger Government involvement? But maybe we need to look at the Code enforcement angle. If a company owns a whole neighborhood is that now a Resort and not a bunch of single family homes? At that point the Investment companies own a different thing and with that have different obligations. More liability as they have created a new "HOTEL" and "Resort" kind of model. Just wondering... When a single company all of a sudden owns a whole neighborhood how does that change what that neighborhood is?
I see this happening all over my once bucolic city in Henry County. Housing developments start going up with signage stating "home sale price ranges" and as soon as the building starts getting underway, the signage is changed to "home rental price ranges" for the whole shebang. Established neighborhoods all of a sudden find themselves surrounded by hundreds of "rental only" developments.
My two daughters are trying to buy their first homes, but they can't compete with all cash offers 20k over asking price. It will all come crashing down. And then the media will blame Republicans, conservatives, capitalism, Christians, talk radio, and Trump. It's maddening.
Those same rental corporations bought some extra BBQ rib platters for our Jawjuh Ledge-iss-lay-tores, and in turn got them a bill passed that prohibits HOAs from enacting leasing restrictions! Don't want renters in your HOA? Too bad! https://legiscan.com/GA/bill/SB442/2019
Everything we are seeing both on a personal level and on a corporate level ties back to one truth, without God in the equation there will be no morality. We find these things self evident, that all men are created equal...not all men evolved equal. Regardless of the differences of our founders, and there were many, God was at the center of their beliefs and pronouncements. Government was good because it was ordained by God to push back on evil. But when government no longer believes there is a judgement and ultimate accountability, the government will not act in the people's best interest, even if they say they are. The same is true for corporations. If profit is their god, and the only accountability is to their investors, then slavery is the outcome. So Erick is right. Capitalism without God is no better than Communism. (In some way it may be even worse, because they believe that God is on their side, instead of asking are they are God's side.) They will hold the bible high for photos while stepping on the image bearers of the creator. Unless you see the imprint of God's finger print on your neighbors, you will not pray or work for the welfare of your city. You will call rioting mostly peaceful demonstrations, you will say the border is closed as two million people pour across the border. You will claim someone hands are small, demeaning their manhood, and you will slander your opponent wishing their destruction rather than their improvement. By the way, this is not a Republican or Democratic issue...it is a morality issue that is plaguing both sides. I hope many pause and think about what Erik has said here. We have much to turn from (repent) and we need to pray that In God We Trust, becomes real again. Charles
And when this bubble does burst, guess what happens then? The private equity firms go, hat in hand, to the Feds claiming that they are “too big to fail”, and the Feds will bail them out! Why not? If we can drop $6 trillion on misguided “stimulus”, we can certainly spend more money unnecessarily to bail out a bunch of cronies.
If we decry the political class for its immorality, we need to remember that their power lust is fueled by the money they get from their cronies in what used to be the private sector, but has now become a state supported enterprise. Lather, rinse, repeat.
Here in Ireland the situation is five years down the road- PE owns more and more housing and very few can afford to purchase a 1st home. The government funds new housing construction, and as soon as the properties go on sale, PE firms pay a 20% premium over asking price and a one time10% multi-owner tax; the govt says the money is too good to pass up and is needed to pay for social programs and "green" conversions. Watch the Dems start to tax these purchases as a revenue generator- and the costs passed along to the renters...
I live in north Atlanta and my neighborhood has experienced this. Back in 2008 a lot of homeowners lost jobs and homes and these rental companies came in and bought them up. The rent is high and my neighborhood has been sliding downhill ever sense. I want to move but can't afford houses in the area where I want to move so I'm just staying out for now I totally agree with Erick on this and once again, innocent people are going to get hurt by the greed of a few!
My wife is a Real Estate Agent and sees some of this crazy stuff and yes agree that at some point this model of Rental Only neighborhoods will come crashing down. She sees people today willing to waive the appraisal gap and purchase homes for more than they are worth. Now that is "okay" if you plan to be in the house for 10 or 20 years or more.. even if the market take a downturn. But if you suddenly need to move or want to move then you could be upside down and end up losing. The question is how can this be better managed without MORE regulations and bigger Government involvement? But maybe we need to look at the Code enforcement angle. If a company owns a whole neighborhood is that now a Resort and not a bunch of single family homes? At that point the Investment companies own a different thing and with that have different obligations. More liability as they have created a new "HOTEL" and "Resort" kind of model. Just wondering... When a single company all of a sudden owns a whole neighborhood how does that change what that neighborhood is?
I see this happening all over my once bucolic city in Henry County. Housing developments start going up with signage stating "home sale price ranges" and as soon as the building starts getting underway, the signage is changed to "home rental price ranges" for the whole shebang. Established neighborhoods all of a sudden find themselves surrounded by hundreds of "rental only" developments.
My two daughters are trying to buy their first homes, but they can't compete with all cash offers 20k over asking price. It will all come crashing down. And then the media will blame Republicans, conservatives, capitalism, Christians, talk radio, and Trump. It's maddening.
Thanks Eric for genuine news. So enlightening. A sobering report. I find myself listening more and more to your prophecies.
Chesterton supposedly said, “Too much capitalism causes too few capitalists.”
Therein lies our current conundrum.
Those same rental corporations bought some extra BBQ rib platters for our Jawjuh Ledge-iss-lay-tores, and in turn got them a bill passed that prohibits HOAs from enacting leasing restrictions! Don't want renters in your HOA? Too bad! https://legiscan.com/GA/bill/SB442/2019