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After Banks Get the Runs, Bulls Follow The Scent 3/30/23

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Is the 10 year yield setting up for launch or breakdown. That will signal whether the bank runs crisis will ultimately be self mitigating (correcting) or self reinforcing (positive negative feedback loop). 

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Fed’s Reaction to the Big Mahoff Panic Ain’t Your Daddy’s QE March 28, 2023

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But since I spend nothing on housing, I have room in my food budget hamburger, but not steak. Therefore no inflation.  

Seriously, a nearly free roof over your head is comforting in times of hyperflatus.  Covers for a multitude of loaves and fishes. And when you're in a tourist town, it pays for a free summer vacation. Even a month or two in Doucheland! 

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25 minutes ago, DrStool said:

But since I spend nothing on housing, I have room in my food budget hamburger, but not steak. Therefore no inflation.  

Seriously, a nearly free roof over your head is comforting in times of hyperflatus.  Covers for a multitude of loaves and fishes. And when you're in a tourist town, it pays for a free summer vacation. Even a month or two in Doucheland! 

You did buy the appartement in Nizza outright? Completely in cash?

Grocery stuff, all fish products really feel to have doubled in price YoY, maybe it was „just“ 72% or so, but feels like doubled. I still can afford to buy good food, but poorer people can‘t, so they buy all that ultra processed crap, then they get fat and get all the various diseases which come with bad nutrition. It is a mess.

Allmagne? Kweel! 🥳

 

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1 hour ago, fxfox said:

You did buy the appartement in Nizza outright? Completely in cash?

Yes, and I paid for the renovations out of pocket.

My fixed cost of housing here is almost nothing, thanks to very low real estate tax, insurance, and maintenance fees here. Income and sales taxes are high in France, but fixed housing cost is 80% less than a similar price property in FL. 

In addition, the summer holiday rental market in Nice is very strong. For 4 months of holiday rental income, I will travel all summer, and the net rental income from the apartment will be significantly greater than the expense of accommodations of similar quality elsewhere in Europe. It will also cover the cost of travel from place to place, and dining expenses. The remaining surplus will cover the remainder of my housing cost for the year. 

I call it rent arbitrage. I like it better than speculating on equities because it's a sure thing. 😄 

I thought about taking a mortgage and buying a couple of apartments, but then I found out that I cannot get a mortgage in France due to my age. So I went all in on the one. The economics work great if you are in the right location. 

Although, one of the unfortunate side effects of the war in Ukraine is that the cost of temporary rentals in Croatia and Poland, where I lived in 2020-21 has doubled. Although fortunate for some in those places who own rentals. For them, it has meant a windfall. 

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