Major Office Building Just Sold for 9 Cents on the Dollar
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- Опубликовано: 13 май 2024
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Burnett Plaza, a 40 story and tallest building in Fort Worth, Texas, has been purchased foreclosure auction for $12.3 million.
Just 3 years ago sold for $137.5 million according to the Dallas Business Journal.
And recently appraised for $104 million.
• Are $Trillions Of New ...
Adam Taggart Melody Wright Author of a Financial Times article on the government getting into home equity loans (Freddie Mac).
Unleashes $1 - 2 Trillion of home equity into the market.
Stimulative and also inflationary
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David McAlvany and Kevin Orick
Treasury Sec. Yellen is going around the world begging countries to loan us money.
Meanwhile, China is selling our Treasuries and buying gold.
• Earnings will make new...
Ed Yardini says profits and equity prices will continue to head higher into 2026.
• 'Historic' 40% Rally I...
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Stocks melt up about 40% before they collapse by 80%.
Positive in the short run Global recession after that.
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It's worse than what it seems. That sale was the lender buying it back for 12M (Pinnacle Bank Texas). So in other words there were no bidders.
Point well made
Imagine all of the 401ks going up in smoke because they are heavily invested in these Commercial real estate buildings 😮
Sir, I have now watched a grand total of two of your videos. All I can say is thank you for posting your insights and wisdom. You've made a fan of me.
Thank you for your kind words
Talk about bad timing!
They bought this building during COVID!
This is just the beginning!
Wait until all these leases start expiring on all these office buildings in our big cities!
Lucky they get 20 cents on the dollar.
So glad I found this channel. Love your coverage.
Thanks for the summary.
I would like, the houses go down a least 50% from where they are now way to F. Higher. 😢
Like the concise easy to follow messaging and the relevant guest commentary. I am now a subscriber. Thank you.
Melt-up followed by melt down. Sounds about right to me, certainly fits with the observable trends in the markets. The Las Vegas Review Journal, still prints the market listings in their paper. If you scan down the P/E column in the listings, it's amazing how many companies don't have one, in other words no earnings. The market is grossly overvalued already, but that doesn't mean it can't go much higher before the day of reckoning arrives for the markets as a whole. Buy gold. It won't matter how much you paid when the time comes, all that will matter will be that you got in.
Thank u for your honest and hard work
Good information, thank you !
9 cents on the dollar ?
Which dollar ?
What value of the dollar ?
Shiller PE, Buffett ratio, mean reversion... Pick your model... They all indicate that equities are significantly overpriced. Yet, David Hunter thinks the S&P goes up another 40%? Maybe it will. But, trees don't grow to the sky. While many people have FOMO, I have FOGC (fear of getting clobbered). Still sitting in a pile of Tbills.
Thank you!
Hello from Australia Thanks for your efforts Ben
Nothing is free. George Gammon of the Rebel Capitalist breaks this down. Klaus "You will own nothing" remember...
Wow thanks for your wonderful advice and great show
You are welcome
Very good Sir thxu 👍
Great video… I have a cabin in GA… with good views … I can only imagine what you have there .
if not bonds, then what?
How is your pup? Thank you as always for the valuable information.
I lived right next to this building. It was mostly empty. Work from home is definitely a big factor.
How do I get one?
Our gold reserves haven't been audited in years.
Last time it was it was about 88 billion $
With a 35 trillion debt, that don't help .
Liked / Subscribed
Balanced and informative discussion on world debt, gold and viewpoints for future financial events.
Thank you
Just an odd question....with the market in a spiral....who is to say in 2 years, the same building goes to another sale, and 50-percent of the present value disappears at that point? Even if you buy such a property....if you can't fill it or use it....where is the equity then? We are in a 1929-like scenario....just with a different landscape.
Commercial and residential real estate need a reset in pricing and what gets built. Corporate speculation in the residential market has become significant. Adam's interview with Melody was very insightful, recommend people watch the full interview.
I've been wondering', are these just corporations moving real estate around in there sub corporations, and rinsing the banks/ taxpayers😊
Very informative and though provoking. I have a very unique and controversial strategy but it's very good to hear the analysis in this video.
Thank you
TLDR real estate bubble is at least 11 times actual asset value and first mini-pops ahe here?
💩 Storm is coming, I hope it short, not a depression multiple years
I know nothing about trading /investment and l'm keen on getting started. What are some strategies to get started with?
When do these losses start to show up somewhere?
After you outsource the jobs what do you do with the people
Investors were making 25% on their money using 1% interest only loans. But those 1% loans are long gone and +400 basis points 100 million dollars adds up quick.
Probably few tenants, cost to high to operate . High taxes . There are allways reasons
the lender was the only bidder they had no choice
Thanks, your audio level is a bit low
Hello Ben.
What do you think will happen with Bitcoin when there is a market crash?
Keep it up!
That's a greatest robbery ever.its wild West all over again
Why did the Bank not take possession of this ???
It's going to take several years to get used to more "normal" interest rates. I'd argue they are still artificially low.
Doesn't a home equity loan still make sense for the better option, people aren't selling their homes, 8% eq loan sounds better then 21% cc debt.
There are hundreds counties with tax deeds for sale over the counter at 10 cents on the dollar.
Ben, the current government financing using T-bills versus T-bonds would seem to tell the difficulty of the current debt market. The bond market will eventually play a larger role in Congress dealing with the debt. Neither Party will deal with it until forced by the bond market. Ask Liz Truss, how that works. As always, enjoy the show.
i wonder what the fort worth tax assessor is going to say ?
Thoughtful money, has always seemed like a doomsdayer. I still see an insane amount of traffic in my metro consisting of commuters, so theyre working somewhere. It was mostly dead during covid. Maybe its because they have closed or elimated lanes on a lot of roads.
Aloha...konichi wa
At these prices new construction will dwindle. Equity loans is the worst program as this will take home ownership away from society .
Large housing shortages and available office buildings, they should convert these office spaces into apartments simple! Do what the market demands its just a shame theres tomuch corruption in American policies runned by Wall St Gangsters
How do you barter gold? Its too heavy at thiese prices.thats why we printed paper money.... it could be clam shells for currencies... we could anything money if the receiver agrees.. so if everything crashed and there is an EMP ,we would have no electricity. Paper money seems like a good idea... if electricity goes out fold could go 50x. What would 1 ounce be worth?
How could you makes change? Its too valuable. Back when we backing our currency with gold maybe it would work. But now with all this inflation.... THERE IS NOT ENOUGH GOLD IN THE WORLD....
High rise buildings are white elephants .
A way of displaying your expendable wealth .
And you thought San José was bad Fort Worth is way worse.
I can see why people are so bullish at the top. Every bloody analyst have resigned to the fact that the market can only go up. Stocks can never go down. I'm starting to believe this baloney....
wow sp500 will crash now