From Business Insider:
The wannabe real estate moguls going bust
Applying for a home loan is a pain. You have to produce a heap of documents — bank statements, tax returns, employment records, tallies of investment accounts — to prove the stability of your financial footing, then wait for a mortgage underwriterto comb through all of it before giving you the thumbs up. I spoke with one exasperated homebuyer who described the process as a “borderline invasion of privacy.”
While the average American submits to a financial colonoscopy en route to their dream home, wannabe real estate moguls have found a way to sidestep the hassle. With the help of a once-obscure type of loan, they’ve built mini-empires ranging from a few homes to a few hundred — without the usual scrutiny from lenders. These landlords include small-time investors eager to expand their portfolios, TikTok tycoons seeking new streams of real estate revenue, and seasoned property managers looking to make smart bets. In recent years, they’ve taken out billions of dollars’ worth of “debt-service coverage ratio” loans — often abbreviated as DSCR — to hoover up homes. The loans enable income-seeking owners to quickly purchase rental properties while dodging annoying questions about their job history or outstanding debts. DSCRs may sound complicated, but obtaining one is relatively straightforward: A landlord just has to show their lender that the desired property will generate enough rent to cover the monthly payments and other basic expenses, such as taxes and insurance. The lender focuses on the property’s cash flow, not the borrower’s personal creditworthiness.
For some of these landlords, the cash isn’t flowing as planned. Serious delinquencies on DSCR loans have nearly quadrupled in the past three years, data from the real estate analytics firm Cotality shows. Although the troubled loans account for only a small fraction of the total dollar amount of outstanding DSCR loans, they’re a sign that debt-laden landlords face shakier economics amid a rental market slowdown. And while people in the industry defend the idea behind the loans — “It’s still a great product,” one lending veteran tells me — they acknowledge the spread of some sketchy practices that contributed to the spike in bad debt, including ambitious rent targets, hasty approvals, and loans for properties where the rental income wouldn’t even cover the basic monthly payments.
Chicago says:
December 4, 2025 at 6:23 am
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https://www.facebook.com/thedailyshow/videos/pete-hegseths-101st-scapegoat-brigade/1555532215685031/
Hegseth’s 101st Scapegoat Division needs to take the fall.
3
A landlord just has to show their lender that the desired property will generate enough rent to cover the monthly payments and other basic expenses, such as taxes and insurance. The lender focuses on the property’s cash flow, not the borrower’s personal creditworthiness.
Oof! What could go wrong here?
Looks like politicians and public figures are starting to prepare themselves for a post-Trump political environment. Trump who? Barely knew him..
Elon Musk says he warned Trump against tariffs, which U.S. manufacturers blame for a turn to more offshoring and diminishing American factory jobs
In an interview with investor and entrepreneur Nikhil Kamath released on Sunday, Musk said he warned Trump against tariffs, arguing they “create distortions in markets.” The Tesla CEO has previously expressed concern that import taxes would cause a recession and drive up the prices of goods. In April, the EV maker stopped taking orders for some models in China, which then faced a retaliatory 125% tariff.
“The president has made it clear he loves tariffs,” Musk said in the interview. “I’ve tried to dissuade him from this point of view, but unsuccessfully.”
Just under 700K, all original. There was a time when Clifton offered the biggest bang for the buck. No where to hide now.
https://www.trulia.com/home/184-abbe-ln-clifton-nj-07013-39724339
This is a tough sell. Ugh. Is the astro turf as old as the house? Tell me what you see in picture no. 20:
https://www.trulia.com/home/54-doherty-dr-clifton-nj-07013-39729176
I won’t bore you with a review of his research career, from Dow 36,000 to his “cubic model” that predicted very few deaths from Covid, except to say that few would describe it with the words “highly regarded.”
My guess is that few economists will be willing to say this openly, but basically everyone understands that Hassett is an ideological DEI hire. That is, his career has depended not on getting things right but on displaying unswerving loyalty to conservative causes — and, latterly, on saying whatever Donald Trump wants to hear.
– Paul Krugman
600K, 1 bathroom. I’ll say it again, owning a house is a luxury. The divide between the haves and have nots is growing.
https://www.trulia.com/home/33-graydon-ter-clifton-nj-07013-163443142
This morning I went to the Frankfurt Consulate to take care of some business. Stopped at a rest stop on the Autobahn. The concession that runs the restrooms has raised the price from .50 cents to 1 Euro. What a rip off. Everything is going up in price.
Reference the FIRE movement, it makes no sense to stop working early and retire. If you are providing a service or product to society you are being productive. Doesn’t make sense to stop earning money.
ChiFi
Your video.
Yup it’s out there.
And ahh, slap on the wrist for this one? The guys are starting to be outnumbered these days.
https://www.dailymail.co.uk/news/article-15348965/Female-teacher-sex-male-student-teen-kansas.html
Doesn’t make sense to stop earning money.
Indeed. I wish I was younger so I could do a third career. I’ll never stop doing something. Being idle is a sure fire death sentence.
Chad Powers says:
Don’t worry. It’ll be okay.
Germany going to take 200M and buy more weapons to attack Russia.
Ursula VonDerLying is hard at work trying to get the Belgians to release the Russian holdings there so she can spend them. Belgium is refusing with good legal reasons. But if she can’t get her talons on them one way, she will borrow against the money if she can. Europe is desperate for cash right now, and those Russian Rubles are a lifeline for their economy as the Chinese are eating their lunch everywhere. Only a handful of wealthy are buying anything the Europeans are making. The rest of the world is shopping at Walmart.
Hell I remember when where I worked we had expensive Drager ventilators that were like the Bimmers of respiratory. We have had Mindray machines now for years. They work fine, made in China, 1/3rd the cost. Why buy German at German prices when Chinese at Chinese prices get the job done?
And that was when Russian gas kept manufacturing alive in Europe.
It’s only going to get worse. No 24 hour deal. Kushner and Witkoff aren’t good enough liars to trick Putin. He knows them way too well.
December 4, 2025 at 7:46 am
This morning I went to the Frankfurt Consulate to take care of some business. Stopped at a rest stop on the Autobahn. The concession that runs the restrooms has raised the price from .50 cents to 1 Euro. What a rip off. Everything is going up in price.
Reference the FIRE movement, it makes no sense to stop working early and retire. If you are providing a service or product to society you are being productive. Doesn’t make sense to stop earning money
Age is just a number. If Bill Belichick can have a 24 year old girlfriend and still satisfy her, you can have a third career.
Don’t be a negative nanny Republican.
The world is your oyster. Go get some.
Fast Eddie says:
December 4, 2025 at 8:00 am
Doesn’t make sense to stop earning money.
Indeed. I wish I was younger so I could do a third career. I’ll never stop doing something. Being idle is a sure fire death sentence.
191K on initial jobless claims, lowest number since somewhere in 2022. Until this number doubles, save the anecdotes.
Dark: Yeah, he is satisfying her with his checkbook and credit cards. That said, it’s gross and old geezer with a woman young enough to be his granddaughter.
3b
Why do you blame him and not her?
You do realize that women decide the relationship, not the men.
Why so biased against the man?
You the type to give a female teacher a break and blame the 14 year old boy when she hooks up with him?
Oh Heggy. One minute you are group texting military plans on Signal, now this.
It’s funny how you try to spin two guys clinging on a sinking boat are a threat.
Next you will claim a baby with a pacifier is a terrorist.
That is what is interesting about legal. You don’t need morals to have legal. You don’t need justice to have legal. Now you wonder how America had slaves for years? Yup, you guessed it. Legal.
A spokesperson for Hegseth did not respond to a request for comment. In recent days he has sought to distance himself from the controversy, pointing instead to Bradley, while also defending the second strike.
“Admiral Bradley,” Hegseth said while seated beside Trump at the White House on Tuesday, “made the correct decision to ultimately sink the boat and eliminate the threat.”
Which one is it? What caused the addiction and psychosis?
Was it the bail from an unsuccessful corporate career and miserable fail at your entrepreneurship?
Or did your fail in the corporate world lead directly to your entire bail on anything resembling a responsible adult life?
Inquiring minds want to know.
We have bombed the crap out of middle east for decades. Every strike was probably a double tap. First to kill and maim anyone near the target and the second tap to kill the first responders or anyone pretending to be dead or injured. Does not matter if they were just a truck or ambulance driver. They are all labeled terrorists.
1949 Geneva Conventions prohibit the targeting of medics, anyone assisting in rescue efforts, or those already wounded in a first strike. Heck we have our own laws too. War Crimes Act is a federal law which makes it a federal crime for any US national or member of the US Armed Forces to commit a grave breach of the Geneva Conventions or other war laws.
Long list of people to lock up for War Crimes of the double tap kind. Start with GW Bush, Obama, and Biden.
Dark: I blame him, because he is the one with the money, power and fame. And I do blame female teachers that prey on young boys too. They are all shameful and disgusting.
Krugman criticizing Hassett, well now that’s the pot calling the kettle black.
So jobless claims positive , Black Friday sales increased, although the numbers are not adjusted for inflation, but still good in light of economy slowing down, and continuing high inflation. No hire, no fire, at least for now.
Krugman is to economics as democrats are to leadership.
“Black Friday sales increased,”
Just wait until my returns hit the ledgers.
Dark Phoenix,
You are correct. I have a German chainsaw because I like to have wood for my stove. Hard to start and sometimes it didn’t start at all. I bought a Chinese made chainsaw last year. Starts every time with one pull of the cord.
White Trash Eddie,
Great quote on Krugman. He is a political commentator more than an economist.
According to a Market Watch article Americans will spend a record 20 billion dollars on buy now pay later stuff during the holidays. There are concerns.
Krugman -meh he said inflation would be temporary…..
German Gary,
I have to agree with you. Work and education are more valuable than living a life of bitterness with endless grievances for the erosion of privilege.
maga ain’t bringing slavery back
Chad Powers says:
December 4, 2025 at 7:46 am
Doesn’t make sense to stop earning money.
What ever happened to the TikTok sale?
U.S.-China tariffs still on or off?
It’s been quiet….
VSG: Seems to me there are lots of radical leftists living lives of bitterness and miserableness. They are mad at the world, always a new grievance, always someone else’s fault. They believe they are entitled to everything, but no requirements for any real work or effort on their part. They may be educated, whatever that means today, but they are not too bright.
Juice: China has not given their final approval to the Tik Tok
Sale. They have until Jan 23, 2026, unless the deadline is extended again, and of course no surprise if it is.
You can calculate your lack of productivity based on the number of hours you spend watching Fox News every day. Need to step it up and pull yourself up by your bootstraps
3b says:
December 4, 2025 at 11:15 am
VSG: Seems to me there are lots of radical leftists living lives of bitterness and miserableness. They are mad at the world, always a new grievance, always someone else’s fault. They believe they are entitled to everything, but no requirements for any real work or effort on their part. They may be educated, whatever that means today, but they are not too bright.
Found 3b (again)
https://www.instagram.com/reel/DMfilvbRTb_/?igsh=NTc4MTIwNjQ2YQ==
Chad.
If it’s a Stihl, there is a half setting for the choke. You get it right your good.
But like everything else German, it’s not forgiving once you flood it.
Used to go through 5 cords a year. Did it myself.
Today I would go battery powered. But of course for a movie like the Texas Chainsaw Massacre somehow I don’t think a Milwaukee or Ryobi would be as terrifying, although in reality it would bring way less attention.
Crypto madness.
CFTC announces spot Bitcoin and crypto can now trade on CFTC-registered exchanges.
Charles Schwab, Vanguard & Bank of America all magically launch crypto trading for their clients in the same week.
What an absolutely wild, totally random coincidence.
Crypto Madness.
https://www.cftc.gov/PressRoom/PressReleases/9145-25‘
VSG,
I believe you are doing what the psychologists would call ´projection‘. In other words you are unconsciously transferring your own desires and emotions onto other people. It’s a defense mechanism basically to protect your ego. I don‘t blame you at all as you can‘t help yourself. However, with therapy and perhaps medication you can overcome this! I wish you luck. As Obama famously said, „Yes You Can!“.
Reference the FIRE movement, it makes no sense to stop working early and retire.
Disagree 100%. I retired at 59, and worked part-time for a few years before that.
Now I spend my days mountain biking, hiking, skiing, canoeing, fishing, sailing…
I also do a little volunteer work with my outdoor club- leading trips and teaching whitewater canoeing (hence my handle here) and sailing.
IMO, the key to a happy retirement is to develop plenty of enjoyable hobbies BEFORE you retire; otherwise you get there and suddenly you’re like “what the hell do I do with myself now??”
If you really enjoy your job, then by all means keep working.
But a lot of people seem to keep working after they are able to retire simply because they don’t know what to do with themselves, which I find to be a little sad.
Remember, nobody on their death bed ever said “I wish I spent more time at the office”.
OC1,
I agree with you that people should have some hobbies that interest them. For the FIRE crowd though I find it strange that people want to retire at 35 or 40 years old. Society needs individuals actively involved in producing and contributing.
Agree with OC1 and Chad
Retiring young and low budget is just giving up on life. Kind of sad. Work can give you life meaning. “Jiro Dreams of Sushi” is a good example of someone who loves his work and never wants to stop, or stop getting better.
But Jiro didn’t have to deal with HR, useless mid-level managers, DEI training, sexual harassment training, ungrateful clients, etc.
For someone who has already accomplished a lot in work, and the future looks less bright, and has enough money to live well for the rest of his life, FIRE sounds pretty good after, say, 50, assuming that person has other meaningful interests to pursue.
I’ve monitored the Reddit FatFIRE discussion board, learned some useful things there. The key questions are at what level of spending are you likely to be, how long you and your spouse expect to live, how much you expect to donate to kids and causes, what returns to expect, what inflation to expect.
BTW, I have known people that wish they had spent more time at the office even though they were on their last legs. These were mainly business owners who built a company up and worked until the end. It all has to do with the Protestant work ethic which of course originated in Germany.
1:51 fuuuuck you chud.
VSG aka Nazi Lover,
As Reagan used to say, „There you go again!“. Projection is all you have. But keep going, play it for all its worth.
VSG: Jeez, you are a piece of work. Anyone that does not agree with you, or criticizes leftists autocratic means they watch Fox news. Such simplistic notions on your part, and yet you claim you are educated. And, yes from what I see the radical left, do appear to be more miserable in general. Always unhappy, and always looking for the next outrage.
2:12 stfu imbecile
Profit of Piece; And yet another new name for you? Where do you find the time to come up with these names? Never mind, I just answered my own question.
Is this FIRE thing retire at 35 or 40, still really a thing. I thought it had fizzled out.
VSG,
Swing for fences! You can do it.
Wow, this Trump is so weak.
https://www.ft.com/content/61016803-baf5-4be5-8350-e0cc5ca4ab26
Doesn’t punish Chinese spies/hackers who attacked the US lest he upset Xi, and preserve a truce in a trade war that Trump rekindled.
But he’s a tough guy when it comes to bombing fishing boats or pursuing trade wars with allies.
Trump seems like a guy willing to slap around his wife, but then goes to bathhouses and lets stronger scarier men dominate him. To be honest, I’ve never seen a president compliment other guys’ looks as much as Trump has, it’s a pretty creepy pattern. I’m pretty sure he picked Hegseth for his handsome looks – he’s complimented his looks publicly.
3b,
FIRE is still out there on Reddit and other places online. I don’t know how successful it for people. I‘m sure there are those who retire early and end up going back into the workforce later.
Chad: I thought it had fizzled out. Retiring at 35 or 40, never really made sense to me. Totally unrealistic for most people.
Here’s a fun calculator.
https://engaging-data.com/will-money-last-retire-early/
It starts becoming compelling when you start seeing other people dying, especially if you have enough money and aren’t loving your job.
Reading the FatFire posts (mostly people with at least $8m in liquid assets) there is a rising number of people looking at this the last couple of years because of rising asset valuations. Mid level managers in big tech who got restricted stock now worth many millions, plus their 401ks that have been going up in recent years. And now their gig is less sweet, more vulnerable.
Another group that keep coming in are guys that owned a business and got a big offer from private equity firms to sell. And decide to just retire early rather than starting over.
Occasionally there’s a clueless shitcoin guy coming in with big theoretical asset values in that, but those guys never seem to be willing to jump off that train, leaving their portfolios much riskier than they realize.
Home Depot files for bankruptcy.
Making America great again
Home Depot files for bankruptcy
You sure about that?
I’m a Lowe’s guy myself
Thank you. Possibly the kindest thing ever done by someone on these threads. You are a man of great character.
grim says:
December 4, 2025 at 6:28 am
Chicago says:
December 4, 2025 at 6:23 am
1
Nazi Lover says:
December 4, 2025 at 2:07 pm
1:51 fuuuuck you chud.
https://www.youtube.com/watch?v=V0rLlyfmc4E
you sound like Nancy Pelosi.
3b says:
December 4, 2025 at 2:42 pm
Chad: I thought it had fizzled out. Retiring at 35 or 40, never really made sense to me. Totally unrealistic for most people.
Or Mitch McConnell. Or Donald Trump. Or Joe Biden.
Oopsy
Himes said he saw “two individuals in clear distress, without any means of locomotion, with a destroyed vessel, who are killed by the United States”.
Dark: I meant for the everyday people. Not out esteemed politicians from both parties. They are a special breed.
politicians (especially house/senate) have trouble retiring because they get to a point where they aren’t actually working.
I see nothing’s changed — Eddie, Chad and a few others offering insightful and informative commentary while the Tampon Tim supporters like VAG and grim do nothing but whine about DJT. Pathetic…
grim says:
December 4, 2025 at 6:32 am
“Hegseth’s 101st Scapegoat Division needs to take the fall.”
Remember Oblama’s drone strikes? Funny how you DemSocialist putzes didn’t care that no one was held to account for Barry the Bomber killing at least 4 US citizens and hundreds (thousands???) of other innocent locals; but your panties sure get bunched when DJT vaporizes a bunch of drug smugglers. Idiots!
OC1 says:
December 4, 2025 at 12:45 pm
“Remember, nobody on their death bed ever said “I wish I spent more time at the office”.”
ExLax’s significant other could be the first. Can you imagine being home all day, every day, with a fat, lazy, leech, watching him waste money that you earned to support his pot and midget porn addictions…
BRT: And that point happens quickly. It’s a great gig. Than you can run for another office while you are supposed to be working in your first position, and if you loose you get to keep your old job. What a racket.
3b says:
December 4, 2025 at 11:15 am
“VSG: Seems to me there are lots of radical leftists living lives of bitterness and miserableness.”
Like VAG himself, who no doubt belongs to the ‘Cougars for Luigi’ fan club.
Mike Lindell the my pillow guy is running for Governor of Minnesota, against Walz. Meanwhile, Walz say the fraud scandal in Minnesota is no big deal , and of course he bears no responsibility for it.
VSG says:
December 4, 2025 at 11:37 am
“watching Fox News…”
Speaking of which, what a change of scenery at the local Planet Fitness where the news options on the overhead TVs have permanently switched from CNN/MSNBC/FOX to FOX/NewsNation/CNN.
I voted for that!!!
Someone cum in my mouth.
Small: That woman that lost in Tennessee is another example of bitterness and miserableness. Who doesn’t like Nashville, even if you don’t like country music, and pedal bars, she has a problem with those too. A
I want it in my asshole noooow!!’
MAGA
3b says:
December 4, 2025 at 7:37 pm
“That woman that lost in Tennessee is another example…”
She’s also proof that the traditional Dem party is dead and the Socialists have won. If you support the modern Dem party you are a DemSocialist.
Jim’s entire life’s work is, as German Gary pointed out, a product of timing and luck. Now Jim spouts off like he’s something other than a generic boomer who rode a great tailwind into the sunset.
That woman that lost in Tennessee is another example…”
That woman who lost in Nashville lost by single digits in a district that went Trump +22
Roll on the midterms.
https://www.usatoday.com/story/news/politics/2025/12/02/tennessee-special-election-live-updates/87479909007/
Drove past this place a few times, at least it has the view going for it.
$25M Mega NJ Wedding Venue Pushes Toward Opening After Filing For Bankruptcy
A massive wedding and catering venue on in Passaic County is moving toward opening.
https://dailyvoice.com/new-jersey/northernvalley/25m-mega-nj-wedding-venue-pushes-toward-opening-after-purported-bankruptcy-filing/