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Eman says
Saw this on X and thought of this thread.
And 3 generations later, poor again.
But we choose to do this knowing we can leave if things get intolerable for us.
Eman says
Saw this on X and thought of this thread.
And 3 generations later, poor again.
Happy to see someone knows this. There’s an old proverb that states “wealth doesn’t last past 3 generations”, and there’s a good reason for it. 😅
There are exceptions of course. Looking at Trump’s family, I believe wealth should last more than 3 generations for them: Fred Trump, Donald, Ivanka, and their kids……Good for them.
in case the kids are a bunch of idiots who would piss the inheritance money away.
There’s an old proverb that states “wealth doesn’t last past 3 generations”,
Eman says
There’s an old proverb that states “wealth doesn’t last past 3 generations”,
Yep, "Shirt sleeves to shirt sleeves is 3 generations." Grampa builds the business from nothing, kids live well on the profits, grandkids blow the rest supporting a lifestyle.
Did this happen to the Trump family? It’s all about the work ethic.
In this country, there are instruments that can make the wealth last for a very long time as AD alluded above for people with really deep pockets. Previous generations didn’t have this instrument so 3 generations seem about right.
Both he and his wife are well educated. They’re pushing their kids hard in schools too…Tiger parents if you will. Our common ground is real estate investments.
Eman says
There’s an old proverb that states “wealth doesn’t last past 3 generations”,
Yep, "Shirt sleeves to shirt sleeves is 3 generations." Grampa builds the business from nothing, kids live well on the profits, grandkids blow the rest supporting a lifestyle.
And by the way in case this was missed before, here is your reading assignment Eman: https://joelkotkin.com/are-asians-the-new-jews/
AD says
And by the way in case this was missed before, here is your reading assignment Eman: https://joelkotkin.com/are-asians-the-new-jews/
I agree with his assessments. I remember reading an article when Trump was contesting few years back that 85% of Indian descends born in US who know nothing about India aligned with salve owning/craving Dems!! I think this number can not be much different for other Asian groups. All of them are highly "educated"!
“The other, potentially more damaging assault, comes from the progressive left, which views ethnic success as socially regressive rather than a validation of societal openness.” - Since when is America against success? Out of jealousy?
Eman says
“The other, potentially more damaging assault, comes from the progressive left, which views ethnic success as socially regressive rather than a validation of societal openness.” - Since when is America against success? Out of jealousy?
Well Mister Eman, have you heard of school board member Alison Collins (who is not far from you) ? She publicly stated meritocracy is racist especially standardized testing.
She went full assault on local public schools as far as reforming them to cater more to historically disadvantaged minorities (not your demographic group, Eman).
And you may ask how that impacts housing as in home values ? It drives them down with that type of local population movement.
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Then let’s find out. It is what it is. I guess they’re grouping Asians with “White privileged”. Again, it is what it is. Jealousy is a bitch. It’s always someone else’s fault why they can’t succeed in America, the land of many many opportunities.
Family Dollar is largely a local store that sells everyday needs at low price points. Dollar Tree sells things at a low price point, including everyday needs, but it also sells a wide variety of products that are more discretionary in nature. Shopping at a Dollar Tree is something of a scavenger hunt, as you look for fun products at bargain prices. While economic concerns have clearly benefited both nameplates, the scavenger hunt of Dollar Tree has been a bigger winner.
That company was pretty clear about what was going on when it held its third-quarter 2023 earnings conference call. According to CEO Rick Dreiling: "Dollar Tree is attracting customers from a broader range of income levels. Most of our new customers over the past year have household incomes over $125,000, and this income demographic was a significant contributor to Dollar Tree's Quarter 3 comp growth."
Then let’s find out. It is what it is. I guess they’re grouping Asians with “White privileged”. Again, it is what it is. Jealousy is a bitch. It’s always someone else’s fault why they can’t succeed in America, the land of many many opportunities.
Yes, yes, McD's is pure garbage. BUT, there are many moron grown-ass adults that still eat many meals there, and that's baked into the economy.
Which shithole has households needing to make an average $500k/year?
Eman says
Which shithole has households needing to make an average $500k/year?
Mister Eman, third-world shitholes have two-classes only...rich and poor, or the have's and the have nots.. hence California is a third-world shithole
Very Respectfully, AD
Which third world shithole has this household income number can you share?
AD says
Eman says
Which shithole has households needing to make an average $500k/year?
Mister Eman, third-world shitholes have two-classes only...rich and poor, or the have's and the have nots.. hence California is a third-world shithole
Very Respectfully, AD
Which third world shithole has this household income number can you share?
There are plenty of shithole countries where the rich are the only ones who can afford to buy decent homes. California is identical to them in regards to this matter, Mister Eman.
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AD, how many Patneters do you recall who called CA a shithole?
You’ve lost me Wookie. If I recalled correctly, you previously mentioned you and your wife made more than $100/hour. Now you claim you can make $500k in the panhandle no problem or CA? Maybe I misunderstood somewhere somehow?
I travel 6-8 times a year, in state, out of state and out of the country. I don’t share this stuff because people call it “bragging”.
I've lived the RE life and everyone is a liar. EVERYONE.
WookieMan says
I've lived the RE life and everyone is a liar. EVERYONE.
I am not in real estate but I don't disbelieve this statement. It ties into Patrick's sticker, "Debt is slavery"
It ties into Patrick's sticker, "Debt is slavery"
gabbar says
It ties into Patrick's sticker, "Debt is slavery"
You can make it work for you such as you get a 3% rate mortgage for 30 years instead of paying cash for around $200,000 townhome.
That $200,000 in cash can earn conservatively about 3% annual real return in a 60 bond/40 fund stocks while the townhome's average annual appreciation (after housing inflation) is 1%.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.