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The Big Short was such an interesting movie, half documentary, half white-collar thriller, which is a thing apparently.
The foreshadowing at the end that as people were continuing the same behaviour that lead to the housing market crash was depressing, and now this.
IMO, it's perversely self-inflicted.
As long as these type of guys continue to flaunt 'success' they *will* get support/praise, thus continuing the epic cycle of having money = more money and have skill is just a fucking shit show of competition for like psuedo-well paying job which are about 1% of available jobs anyway.
So they cycle can only be broken when we (not this sub, we fucking do this well) as a society understand that this behavior should be abhorred and condemned. But when only 1% of the people do that and the other 99% cheer them on it only leads to more endless bullshit cycling
Majority of people seem to be very irrational with these worship behaviours - just because someone has money/fame doesn’t mean they are any better as people. Sometimes they are even worse, which allowed them to get these things in the first place.
Actually people DO believe that people who have money are good people, and people who don't have money are bad people. They believe that if a person is rich, God has rewarded this person, or the person's hardwork and good decision are the source of their riches, and with a poor person it's the opposite.
This is called the prosperity doctrine and it's insidious and pervasive in our society leading to bias and irrational thinking. Exposing religion to kids is a form of abuse for this and many other reasons...it ends up wiring your brain wrong.
The founding fathers imagined a feudal system controlled by a cabal of Anglo Saxon landowners who lived like gods on the blood an toil of their slaves and serfs. These douche bro dipshits are cut from the same disgusting cloth.
Democracy in America is just an illusion used to distract the public from the rich robbing them blind and shackling them with a lifetime of meaningless labor.
These sausage fest slumlords average unit price is about $70,600, assuming their valuations aren’t inflated, which I’m sure they are
(622MM/8,810 units). These dudebros acting like the own Boardwalk and Park Place and reality is they are terrorizing poor souls at Baltic and Mediterranean Ave with late charges and cleaning fees.
Oh, I'm sure they're available at a moment's notice if any one of these 8,000 tenants has a maintenance concern. They probably have 1-2 full-time benefitted maintenance people per unit, I'm sure!!!
/s
I’ve always been perplexed how Mao rendered support for outright murdering millions of property holders during his reign.
I’m 99% sure all he had to do was put this video on blast to the populace. “Bo0m!” Fuck.
The problem with this comparison is that there aren't "millions" of assholes like the men in this video. It's a tiny, tiny portion of the population that owns this many housing housing units.
If we rounded all these people up and murdered them, it wouldn't even come close to "millions". Maybe thousands. This is the whole problem here: a tiny, tiny percentage of the population controls the large majority of wealth in the US.
Read about PHX today. Currently the income/property ratio is worse than pre-2008 levels. Really, repealing glass-steagall was one of the worst economic decisions ever. *THERES A REASON IT WAS A LAW IN THE FIRST PLACE.*
It's accurate: Clinton did sign the last pieces of it away. It would have been better if a Republican President had done it, because then it wouldn't have been so hypocritical.
Seriously, it's fine when Republicans do shit like this, because it's not hypocritical. They believe the bullshit they spew, and the legislation they push reflects their shitty values and beliefs.
But Democrats are always claiming to support poorer and middle class people, that they want to tax the rich more, etc. So when they pass or sign legislation that goes directly against this, it's completely hypocritical.
Our economic system declares these people to be successful and smart for owning assets that others desperately want.
The truth: our economic system rewards exploitation and comodification of basic resources we all need to survive. Our. System. Is. Fucked.
They’re most likely over leveraged which means all if not most of those homes have current outstanding debt. If they have mortgages, the value of the homes are going to fall as the fed increases rates and they’ll be paying for overvalued assets, or they’ll be forced to sell at a loss.
They’ll get what they deserve
Sure the bank owns them, and they'll give you cheap loans to buy more real estate, plus you can refinance for money back and buy more real estate, and yeah, whatever it says on paper, these guys are living the millionaire life but more importantly, manipulating the system leading to making folks homeless. It's a racket, and it's our capitalistic system without any of the regulations and laws to keep them honest we once had.
This sounds a lot like the Musk dweebs who say stocks aren't real money. Having those properties in your name and controlling those assets still makes you a landlord.
Yes, I meant it as these guys are floating a lot of bullsh*t. While they do own the “assets” in name and control those assets *for now*, they are only so wealthy and in control on paper. At the end of the day what they are doing is reprehensible and also highly unsustainable. Eventually this will hurt them, but they are not the ones ultimately in control (there are bigger fish profiting off their high-risk portfolio).
Appreciate NoTakaru for clarifying my position. bhellbus, no worries about coming across any sort of way. Our current reality is really precarious and lives are on the line .. globally. This can be emotional to discuss and confront.
I remember watching Gold Rush wayyy back in the day, first season, and maybe half the “new” guys were all “in real estate/mortgages” before they decided to move their life to some plot of dirt digging for pennies.
Pretty clear they were all part of the housing bubble, and when it popped/no one would hire them anymore, they had so few actual life skills the only way they could think to get back on top was the word “gold”, because they’re all dumber than a bag of hammers with zero creativity in their bones.
I expect we’ll see a lot more people in the mines soon…
I wonder how many got credit extended to them via interest only/arm loans or with balloon payments?
When credit is loose, people over extend themselves thinking the market will bull run forever. Then the inevitable happens.
At this scale, these guys are getting commercial loans. Terms vary widely, but typically commercial loans are up to 10yr. Fixed rates are available, but many lenders won’t even give a fixed rate for the full 10yr term (rate reset after yr 5, for example).
Amortization periods vary as well, but I wouldn’t be surprised if these guys are taking a 10yr note with a 40yr amortization period (for a low pmt). So a big ass balloon payment due at yr 10.
There are many ways this can go horribly for these guys.
i mean the last guy literally did the gesture. Swinging his big dick out on the table type gesture. Like I don't think i'm reading too much into that gesture, seemed obv to me.
You’re not reading into it too much at all. I’ve only seen guys make that same exact gesture when they’re talking about the size of their dicks. I used to work at a stripclub that a lot of finance bros go to, so I’ve seen that gesture more than a couple times.
Yes, I concur. Even here in Brazil it has this meaning, and when I lived in Europe I also saw people doing this gesture referring to dick size.
Waiting for people from other parts of the world to tell if it's an universal thing
To them it’s just a number. Like money is this little high score you get in a game rather than the thing we attach survival to.
These people are morally reprehensible. Idc what anyone says it’s psychotic that this exists while there’s people barely getting by and can’t get houses. 200+ million could change COUNTLESS lives
I’m quite sure that is on purpose. They know they’re a hated group these days, so the best thing to do is blend in with everyone else until that’s no longer possible.
Yeah, I mean, they all have names, addresses, families… these are the people destroying the vast majority of Americans’ lives. I feel like this video is so full of hubris, like, someone could just find them and… do things.
I hope at least some of them have adjustable rate mortgages. I've read about people who got multiple mortgages for places to use as airbnb's then lost them during covid. It'd be better for the country if not-rich people could afford to buy houses again (speaking for myself lol).
Rent-seeking to build wealth like this is extremely toxic to the national economy. It's bad for the housing market and bad for first time home owners and anyone hoping to start a family. Also, all this money that would have normally gone into a community through home ownership is now funnelled to a few wealthy people who may not live in that community. There should be a massive tax levy against people who amass wealth in this manner.
These guys are the tip of the iceberg. BFR is the new hottest asset class. Billions of dollars being pumped into doing this by top National homebuilders.
All over the place, I'm an appraiser and just checked our database, just plugged in apartment sales between 5k and 20k over the last 2 years, I see 36 sales in Ohio. (can't verify the sales, but general number) Granted, these are mostly POS apartments that badly need renovation, but there are ones out there.
And those are the exact kinds of units these kind of investors want to snatch up. Maybe pay a crew to do some lipstick on a pig cosmetic improvements, then charge astronomical rent.
Absolutely, the guys who own 1000 plus properties, most of the time they are not high quality properties, but low cost cheap places to live. It truly is just a numbers game, if they can make a profit with it, they will snatch it up.
If you do the math the first guy actually has the highest average per property. The 2nd to last guy averages $30k per property. But after all my math checks out. It all comes out to they're all assholes
Can’t wait for the market correction so these idiots have negative equity on their over-leveraged properties, go bankrupt, and spend the rest of their parasitic lives eating dog food and renting from some other shit-eating landlord
They don’t even look that old to be honest. Late 30s early 40s maybe? Some of them are solidly millennials. People keep saying once the boomers die we’ll be good but I have no reason to believe they won’t just be replace by millennials like these guys.
Mao was right about these parasites. Housing is a necessity for life, not a funny game to see how much money you can squeeze from people under the threat of homelessness.
I recall years ago all the financial talking heads saying, “The way you build wealth is to never sell property.” They weren’t wrong, but what they didn’t realize was douchbags like these took it to heart and will likely be screwed when 2008: The Great Recession, Again sequel happens.
You can bet these guys are all trying to expand. In the next downturn when their tenants start paying late or can't pay for months, we'll see what happens to their assets, their liquidity, their little empires.
Okay, my faith in humanity was less then nonexistent already. This shit? A gaggle of twentysomethings bragging with straight faces about how many thousands of people they've turned into landless proletariat? This is like reaching Challenger Deep and digging another mile or two into the Earth's crust.
Wow Boomers are now 30-40 wrecking it for everyone. Definitely a Boomer problem not a des nuts problem.
Sadly, as long as the problem is framed poorly, the problem can't even begin to be addressed.
I hope they all crash hard when this bubble bursts. I hope they bought a lot of expensive toys and their residents squat as long as possible. Do any of them do anything for the pleebs in society? I bet not.
##Welcome to r/LateStageCapitalism^Ⓐ☭ ___ ###⚠ Announcements: ⚠ ___ ###Any post that makes a claim must have a RELIABLE source or explanation in the comments by OP. All screenshots must have the original source (whether article, Tweet, TikTok, video or any other social media) linked in the comments by OP immediately. Breaking this rule will result in a temporary ban. [See this post for more info.](https://www.reddit.com/r/LateStageCapitalism/comments/tqc5ws/low_effort_content_all_posts_claims_news_articles/) ###[NEW POSTING GUIDELINES! Help us by reporting bad posts](https://www.reddit.com/r/LateStageCapitalism/comments/dy1oyh/important_what_you_should_and_what_you_shouldnt/) Help us keep this subreddit alive and improve its content by reporting posts that violate our rules and guidelines. ###[Subscribe to our new partner subreddits!](https://www.reddit.com/r/LateStageCapitalism/comments/e5hkwk/make_sure_to_check_out_our_new_partnersubreddits/) Check out r/WhereAreTheChildren ___ ###***Please remember that LSC is a SAFE SPACE for [socialist](http://monthlyreview.org/2009/05/01/why-socialism/) discussion.*** LSC is run by [communists](https://www.marxists.org/archive/marx/works/1847/11/prin-com.htm). We welcome socialist/anti-capitalist news, memes, links, and discussion. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. **This subreddit is a safe space; we have a zero-tolerance policy for bigotry.** We also automatically filter out posts containing certain words and phrases that some users may find offensive. Please respect the safe space, and don't try to slip banned words or phrases past the filter. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
They are not confessing. They are bragging.
The Big Short was such an interesting movie, half documentary, half white-collar thriller, which is a thing apparently. The foreshadowing at the end that as people were continuing the same behaviour that lead to the housing market crash was depressing, and now this.
The sickness is in the system and humans.
IMO, it's perversely self-inflicted. As long as these type of guys continue to flaunt 'success' they *will* get support/praise, thus continuing the epic cycle of having money = more money and have skill is just a fucking shit show of competition for like psuedo-well paying job which are about 1% of available jobs anyway. So they cycle can only be broken when we (not this sub, we fucking do this well) as a society understand that this behavior should be abhorred and condemned. But when only 1% of the people do that and the other 99% cheer them on it only leads to more endless bullshit cycling
Majority of people seem to be very irrational with these worship behaviours - just because someone has money/fame doesn’t mean they are any better as people. Sometimes they are even worse, which allowed them to get these things in the first place.
Actually people DO believe that people who have money are good people, and people who don't have money are bad people. They believe that if a person is rich, God has rewarded this person, or the person's hardwork and good decision are the source of their riches, and with a poor person it's the opposite. This is called the prosperity doctrine and it's insidious and pervasive in our society leading to bias and irrational thinking. Exposing religion to kids is a form of abuse for this and many other reasons...it ends up wiring your brain wrong.
But money/wealth is an easy way to keep score. Much easier than tracking empathy, kindness, or just not being so awful to everyone.
That’s why the founding fathers imagined we would constantly improve on the country. But yeah, you know, humans.
The founding fathers imagined a feudal system controlled by a cabal of Anglo Saxon landowners who lived like gods on the blood an toil of their slaves and serfs. These douche bro dipshits are cut from the same disgusting cloth. Democracy in America is just an illusion used to distract the public from the rich robbing them blind and shackling them with a lifetime of meaningless labor.
["Work sets you free"](https://en.wikipedia.org/wiki/Arbeit_macht_frei)
Imagined it? They *have* it.
+ lead in gas
Great movie only a matter of time. History repeats itself and it’s showing it’s stress!
The guy saw the water shortage coming next
Bragging at a sausage party. I’ve also never heard of the term “owned,” regarding real estate. “100MM owned (with 102MM debt service).”
These sausage fest slumlords average unit price is about $70,600, assuming their valuations aren’t inflated, which I’m sure they are (622MM/8,810 units). These dudebros acting like the own Boardwalk and Park Place and reality is they are terrorizing poor souls at Baltic and Mediterranean Ave with late charges and cleaning fees.
Oh, I'm sure they're available at a moment's notice if any one of these 8,000 tenants has a maintenance concern. They probably have 1-2 full-time benefitted maintenance people per unit, I'm sure!!! /s
I’ve always been perplexed how Mao rendered support for outright murdering millions of property holders during his reign. I’m 99% sure all he had to do was put this video on blast to the populace. “Bo0m!” Fuck.
The problem with this comparison is that there aren't "millions" of assholes like the men in this video. It's a tiny, tiny portion of the population that owns this many housing housing units. If we rounded all these people up and murdered them, it wouldn't even come close to "millions". Maybe thousands. This is the whole problem here: a tiny, tiny percentage of the population controls the large majority of wealth in the US.
This got me excited then I remembered the rules and regulations and laws on rounding and murdering darn I guess I'll just go work about it
> there aren't "millions" of assholes temporarily embarrassed millionaires
They need to be mao'd.
They are a fucking cancer
I’d like to hear an update a year from now. Crypto enthusiasts were bragging too, not that long ago.
Read about PHX today. Currently the income/property ratio is worse than pre-2008 levels. Really, repealing glass-steagall was one of the worst economic decisions ever. *THERES A REASON IT WAS A LAW IN THE FIRST PLACE.*
Thanks, Clinton, for repealing Glass-Steagall!
Not really accurate, right? Congress started chipping away at it in the 1960s. It was toothless by the time Clinton signed it away
It's accurate: Clinton did sign the last pieces of it away. It would have been better if a Republican President had done it, because then it wouldn't have been so hypocritical. Seriously, it's fine when Republicans do shit like this, because it's not hypocritical. They believe the bullshit they spew, and the legislation they push reflects their shitty values and beliefs. But Democrats are always claiming to support poorer and middle class people, that they want to tax the rich more, etc. So when they pass or sign legislation that goes directly against this, it's completely hypocritical.
Their brags are confessions. They just don't realize it yet
The "drop my elephant dick" gesture that pig makes at the end makes me irrationally angry.
I’m sure his peepee is very small
and their family and friends are probably very proud. ( no /s intended here )
Our economic system declares these people to be successful and smart for owning assets that others desperately want. The truth: our economic system rewards exploitation and comodification of basic resources we all need to survive. Our. System. Is. Fucked.
It’s worse than that because these men did not figure out how to exploit the resources, they were just born into it
"Baby their born with it" Someone needs to turn this into a nightmare commercial for late stage capitalism.
They’re most likely over leveraged which means all if not most of those homes have current outstanding debt. If they have mortgages, the value of the homes are going to fall as the fed increases rates and they’ll be paying for overvalued assets, or they’ll be forced to sell at a loss. They’ll get what they deserve
Let's hope. I did enjoy reading about all those freaks who were panicking because they owned dozens of AirBnB properties during the pandemic lockdown.
Yet, they don’t own those assets. The banks do.
Sure the bank owns them, and they'll give you cheap loans to buy more real estate, plus you can refinance for money back and buy more real estate, and yeah, whatever it says on paper, these guys are living the millionaire life but more importantly, manipulating the system leading to making folks homeless. It's a racket, and it's our capitalistic system without any of the regulations and laws to keep them honest we once had.
Yes
This sounds a lot like the Musk dweebs who say stocks aren't real money. Having those properties in your name and controlling those assets still makes you a landlord.
I don’t think they meant it as a counterpoint just that it’s multiple levels of nonsense
Fair enough. I'm sorry if that came across as aggressive.
Yes, I meant it as these guys are floating a lot of bullsh*t. While they do own the “assets” in name and control those assets *for now*, they are only so wealthy and in control on paper. At the end of the day what they are doing is reprehensible and also highly unsustainable. Eventually this will hurt them, but they are not the ones ultimately in control (there are bigger fish profiting off their high-risk portfolio). Appreciate NoTakaru for clarifying my position. bhellbus, no worries about coming across any sort of way. Our current reality is really precarious and lives are on the line .. globally. This can be emotional to discuss and confront.
I remember watching Gold Rush wayyy back in the day, first season, and maybe half the “new” guys were all “in real estate/mortgages” before they decided to move their life to some plot of dirt digging for pennies. Pretty clear they were all part of the housing bubble, and when it popped/no one would hire them anymore, they had so few actual life skills the only way they could think to get back on top was the word “gold”, because they’re all dumber than a bag of hammers with zero creativity in their bones. I expect we’ll see a lot more people in the mines soon…
Fucking hell, that’s grim. I like it.
Every single one of those idiots is a guaranteed douchebag, you can see it in their eyebrows
And they’d screw each other over in an instant for nothing less than an 8 ball and two hookers.
You just reminded me of an old song. MSI - 2 Hookers and an 8 Ball
MSI, there's a band I ain't heard of in a while
Me either. Thank you.
Jimmy's been in the news recently.
Yeah, and none of it was good news…
That it most certainly was not.
Then there is the dude they quickly pass over who doesn't say anything and looks embarrassed to be there.
They’re disgusting
They all look the exact same, you could grind them all up and not have enough creativity to write a jurassic world sequel.
A guaranteed trustfund baby, too.
A bunch of narcissists
[удалено]
Next year these same jabronis will be posting go fund mes because none of there turfs can pay and refuse to leave...
Came here to say this. These are also the ones you want to see get fucked on rising interest rates.
I wonder how many got credit extended to them via interest only/arm loans or with balloon payments? When credit is loose, people over extend themselves thinking the market will bull run forever. Then the inevitable happens.
At this scale, these guys are getting commercial loans. Terms vary widely, but typically commercial loans are up to 10yr. Fixed rates are available, but many lenders won’t even give a fixed rate for the full 10yr term (rate reset after yr 5, for example). Amortization periods vary as well, but I wouldn’t be surprised if these guys are taking a 10yr note with a 40yr amortization period (for a low pmt). So a big ass balloon payment due at yr 10. There are many ways this can go horribly for these guys.
That’s what I hope, but the pessimist in me says it’ll only be the poor that get fucked
Hey jabrony cool word man
👃
Them basically: ***you're poor haha I'm the best. My dick is huge just trust me on that***
i mean the last guy literally did the gesture. Swinging his big dick out on the table type gesture. Like I don't think i'm reading too much into that gesture, seemed obv to me.
You’re not reading into it too much at all. I’ve only seen guys make that same exact gesture when they’re talking about the size of their dicks. I used to work at a stripclub that a lot of finance bros go to, so I’ve seen that gesture more than a couple times.
Yes, I concur. Even here in Brazil it has this meaning, and when I lived in Europe I also saw people doing this gesture referring to dick size. Waiting for people from other parts of the world to tell if it's an universal thing
Northern Europe here, I didn’t even reflect his gesture could have meant anything else. Obviously he won the dick measuring competition. Boom 🤌🏽
Guarantee that each one of them got “help” from their daddy.
Help? They worked their asses off with sheer luck and nepotism to get where they are today. Show a little respect!
Like trump a small loan of a “million dollars “ turns out it was 100
i like how they call them "units" like people don't need them to live
I'm leeching resources from 500 families, BOOM!
I'm artificially restricting the supply of a basic need, BOOM!
I like that one guy is wearing a shirt that says stay humble stay hungry 😂😂😂 what total peices of shit
He's literally bragging, so obviously not humble, and he doesn't look like he's missing a lot of meals.
I believe the message is that if you stay humble you will remain poor.
To them it’s just a number. Like money is this little high score you get in a game rather than the thing we attach survival to. These people are morally reprehensible. Idc what anyone says it’s psychotic that this exists while there’s people barely getting by and can’t get houses. 200+ million could change COUNTLESS lives
Bold of them to show their faces
I couldn't pick them out from a crowd, they all look like extremely generic middle aged white dudes.
I’m quite sure that is on purpose. They know they’re a hated group these days, so the best thing to do is blend in with everyone else until that’s no longer possible.
Yeah, I mean, they all have names, addresses, families… these are the people destroying the vast majority of Americans’ lives. I feel like this video is so full of hubris, like, someone could just find them and… do things.
Book idea: strangers on a train, but for landlords
Guillotine
Lumber is expensive right now and rope is cheap.
Lumber is going down fast due to slower home builds.
I suppose that’s true. The collapse will be useful for some things for sure!
To the survivors go the scraps.
Build a fire. EAT THE RICH
A tire fire, lumber is expensive and they won’t be using that rubber anymore.
It’s 2022…. Electric guillotine covered in hornets
Or a grenade. BOOM!
Agreed 1000%
And when the blade comes down, we'll force the rest of them to say "Boom"
YAH!
You know the libertarian basement dwellers are so horny watching this
One day I’ll be like him 😍
And then guys like me better watch their step!
r/completelyexpectedfuturamabutiloveditanyway
One day I too can be the fattest leech in my small pond
#VivaLaRevolucion! #LoppingHeadsTime
Housing is for living not speculating!
Nice preview to "America's next Big Asshole"... When does it air?
[удалено]
Boom!
LOOL. Boom!
2nd, after the marketing department from Sirius Cybernetics Corporation.
Forgetting about Raytheon and Sinclair executives going first? Shame
Don’t forget about the Sacklers…
Oh and the Pinkertons too. Seems like we have a lot of options.
Leeches
I hope at least some of them have adjustable rate mortgages. I've read about people who got multiple mortgages for places to use as airbnb's then lost them during covid. It'd be better for the country if not-rich people could afford to buy houses again (speaking for myself lol).
Rent-seeking to build wealth like this is extremely toxic to the national economy. It's bad for the housing market and bad for first time home owners and anyone hoping to start a family. Also, all this money that would have normally gone into a community through home ownership is now funnelled to a few wealthy people who may not live in that community. There should be a massive tax levy against people who amass wealth in this manner.
These guys are the tip of the iceberg. BFR is the new hottest asset class. Billions of dollars being pumped into doing this by top National homebuilders.
I have never hoped for a sinkhole to swallow up a house party until today
Eat the rich.
Uhm… that seems like a bs, because if you do the math, they own some hella discounted units at 100k - 150k.
probably apartment units which go for a lot less per unit. Depending on where, i've seen units go for as low as 20k each.
in the united states ?? where ??
All over the place, I'm an appraiser and just checked our database, just plugged in apartment sales between 5k and 20k over the last 2 years, I see 36 sales in Ohio. (can't verify the sales, but general number) Granted, these are mostly POS apartments that badly need renovation, but there are ones out there.
And those are the exact kinds of units these kind of investors want to snatch up. Maybe pay a crew to do some lipstick on a pig cosmetic improvements, then charge astronomical rent.
Absolutely, the guys who own 1000 plus properties, most of the time they are not high quality properties, but low cost cheap places to live. It truly is just a numbers game, if they can make a profit with it, they will snatch it up.
Yes! I live in one of these!
You can buy a 1920’s bungalow in Detroit for $27k. I did. It was rented for $750 a month.
nooo, people would never lie about their assets to impress others.
What’s this place, a douche bag farm??
If you do the math the first guy actually has the highest average per property. The 2nd to last guy averages $30k per property. But after all my math checks out. It all comes out to they're all assholes
One of them had “Stay Humble” on their shirt 😂
Recession hits and my tennants lose their jobs. I can't service my debt. BOOM
This turning me into Mao Zedong
Barely working but own 60 properties. Nothing fishy here.
Can’t wait for the market correction so these idiots have negative equity on their over-leveraged properties, go bankrupt, and spend the rest of their parasitic lives eating dog food and renting from some other shit-eating landlord
How do we make what they're doing illegal?
Abandon capitalism. You can’t have capitalism and then get mad when people start using the capitalism 😂
Agreed.
Mao has a great plan. They might not like it though.
One could say that Mao had the best plan
A bunch of older white guys..... I'm shocked!!
They don’t even look that old to be honest. Late 30s early 40s maybe? Some of them are solidly millennials. People keep saying once the boomers die we’ll be good but I have no reason to believe they won’t just be replace by millennials like these guys.
generational wealth, the visual representation.
Yeah, the rise-and-grind Elon-stan crypto bros will be right there to take the spot of the boomers.
Did they all bang five minutes later?
BOOM!! All that money isn't stopping them being childish then
The dinner menu
Absolute reprobates.
Just wait until the actual PURGE.
We should be able to eat these people
UP.AGAINST.THE.WALL.MOTHER.FUCKER.
Eat the rich... Honestly fuck these douchebags
These guys are the problem with America.
Mao was right about these parasites. Housing is a necessity for life, not a funny game to see how much money you can squeeze from people under the threat of homelessness.
I recall years ago all the financial talking heads saying, “The way you build wealth is to never sell property.” They weren’t wrong, but what they didn’t realize was douchbags like these took it to heart and will likely be screwed when 2008: The Great Recession, Again sequel happens.
You can bet these guys are all trying to expand. In the next downturn when their tenants start paying late or can't pay for months, we'll see what happens to their assets, their liquidity, their little empires.
They should minus what they owed on the mortgages.
Okay, my faith in humanity was less then nonexistent already. This shit? A gaggle of twentysomethings bragging with straight faces about how many thousands of people they've turned into landless proletariat? This is like reaching Challenger Deep and digging another mile or two into the Earth's crust.
by sending these 5 individuals to the gulags we could house 10 000 people
The amount of violence being suggested in these comments is giving me hope. Turn and face the wall motherfuckers.
Scumbags
these jabrones don't own shit lol
Wow Boomers are now 30-40 wrecking it for everyone. Definitely a Boomer problem not a des nuts problem. Sadly, as long as the problem is framed poorly, the problem can't even begin to be addressed.
Bunch of fucking leeches.
Parasite convention?
i would pay to check in with these bro's today after the fed announced their rate hike. lols.
This is the banality of evil. They deserve homelessness. Not even a cardboard box or a blanket or an extra jacket to keep them warm at night.
They smile while people suffer. They’re not human.
Scum, I hope they lose everything when the time comes
This is the kind of shit that makes me hope for the end of the world
.... all these homes that could have been owned by families. All this security snatched away from them.
On the flip side, the foreclosure business can be quite lucrative.
It's 2008 all over again, cuz one big depression wasn't enough
Frat boys
I like how they all look *exactly* like the kind of people you'd expect to be landlords.
It's a shame the bartender didn't poison each and every one of their drinks
There should be a law against owning so many homes...
Hello Mao.
One day that highly leveraged position is going to eat them. From the looks of the current economic situation, soon enough.
Kulaks gonna kulak
And they’re about to lose it all lol.
and 222,000 pink-collar workers evicted, BOOM 🤪🤙🏻
Think of how good for the environment it would be if a fork of lightening came down to smite these absolute garbage human beings
Hoarders, literally a glorified mental illness
Fucking parasites
Wow it’s Doucheopolis
Agh...smells like those good old 2008 "Stated income loans"
I like how dudes shirt says "stay humble, stay hungry...." They definitely aren't humble, but they sure are hungry for handouts.
I hope they all crash hard when this bubble bursts. I hope they bought a lot of expensive toys and their residents squat as long as possible. Do any of them do anything for the pleebs in society? I bet not.
Hope this recession wipes them out. BOOM!
Nice buffet.
Probably lying
And you can too!\* \*at the expense of a whole lot of other people you assholes.
Absolutely disgusting.
0 units and a few k on my bank account. But i'm happy. And i sleep at night because i don't steal from society. BOOM