All Forum Posts by: Scott Mac

There’s been a lot of talk about declining birth rates in the U.S., how will this impact housing demand in the long run?

I brought it up to a friend this morning, saying I was concerned about what a smaller population could mean for the market.

He made a great point: immigration will offset that decline.

Fewer people being born, but potentially more people moving in.

Has anyone else thought about this when looking ahead at the housing market?

Population trends do affect housing, but they are a lagging indicator. That is, the decline is only realized after the population shifts enough to matter for that market over quite a long time period.

Detroit had a population of 1,800,000 people in the 1950s and was the most valuable city in the USA. I don't believe anybody makes that claim about Detroit today.

There are more vacant houses there than fleas on a camel.

The irony of this post is off the charts.

Detroit is actually doing very well today. People are just stuck in their lagging narratives to realize it.

Ask me how I know.

It isn't Detroit that is doing well, it's the suburbs. And it is by no means what it was in the 1950's. So, by your reasoning, if you buy today and wait long enough, you will be fine. Go for it.

Tell us, how many vacant houses in the city of Detroit? How many of those actually are tear downs?

they dont tear them down the kids burn them down on witching night.. google it Ken .. I know you know alot about most things but you may not be aware of witching night in Detroit.

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Actually, I have heard of witching night but I haven't experienced it. Thank God.

Your talking about Devil's Night?

yup Devils not witching my bad.. seen it first hand though.. for those that dont know.. day after holloween the kids go wild and set fire to hundreds of vacant homes in Detroit.. ERGO Devils night.

Hundreds of homes - Arson.

1 Vote

The stronger the breeze, the stronger the trees.

What are your thoughts on this?

Have things always been easy for you?

3 Votes

Some areas are good, some areas are sketchy, many can be dangerous.

It's important to know where these sketchy and dangerous areas are, (and) to know where you are buying, (and) you should know who you and dealing with before you meet them.

Just my 2 cents!

2 Votes

No because housing stock ages and gets torn down, so we may see some empty fields similar to Detroit in some areas, but in larger cities those areas tend to be very desirable so they may get built back on again as the suburbs age.

Just my 2 cents!

0 Votes

Builders build - Owners own.

Just my 2 Cents.

2 Votes

Columbus, Ohio

You might want to get a second opinion.

1 Vote

Casper, Wyoming

Back before PowerPoint became ubiquitous in this business I watched an owner do a rehab on 100 units plus, in a completely ridiculous manner.

Nothing I said, and nothing the property manager said would stop this Bull in a china shop from acting like this.

The bank foreclosed upon him quickly and he and his investors lost everything.

He damaged the asset so badly that the guy who came in to buy it swept it up for pennies.

What I'm saying is it's not just the written material you need to be on lookout for, It's the actual personalities of the people.

And when someone pledges their home in the deal, that's a rough cookie to swallow.

Boy did he lament!

0 Votes

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Steve K.:

@Jay Hinrichs Ohio, Columbus, Cleveland @Jim K. @James Wise

I don't invest in things I don't understand and I don't invest in things that I can't control. For those reasons, I've never got into Crypto so I got no friggin clue.

LOL me too.. my son in law is always telling me to buy it though. And I have some clients in Baltimore that were telling me to buy some when it got down to 15k a few years ago.. But I also had a client the year before get hosed with it.. going form 60k she paid and selling at 20k. I remember when it was 1 dollar and I do kick myself for not taking 1k and buying a thousand of them :) Even though I did not understand it then and done really now.. will stick to renting my money out to others for a fee that seems to have worked for me by and large for decades along with rehabbing or building new construction.. But like crypto can crash real estate was/is not immune from falling either.. we got hammered in 09 to 2011.

I look at it like this......If there is a random group of 10,000 people, I am probably smarter, better, and more experienced than 99% of them when it comes to making money in real estate.

Likewise, if there is a random group of 10,000 people, I am probably less knowledgeable and experienced in Crypto than 99% of them.

Only an idiot would invest their money in an area where they are on the bottom 1% when they could just invest it in an area where they are on the top 1%.

We -------

0 Votes

Denver, Colorado

My prayers to you my Brother, and to her....

Here's something to take your mind off of it for a while

https://www.tonylama.com/en/men/

https://www.youtube.com/watch?v=ArT-tyFpxWY

Best Wishs!

2 Votes

Casper, Wyoming

I wonder if they will tear down the stadium and return that plot to nature or allow it to be rebuilt upon.

Waterfront might be a nice place for a major casino or something fun like that.

And wouldn't it be extra fun if it were served by ocean liner type ships like the love boat that would come from all over the Great Lakes.

So for instance you could get on in Chicago, go up around to Michigan and come down to the casino in Ohio.

I'm just thinking outside the box about the availability of the real estate and what to do with that, not that I am looking to champion such a thing- just putting It out for discussion.

I'm guessing a stadium has tons of electric and tons of plumbing buried under it.

Just my 2 cents.

https://www.youtube.com/watch?v=EUcmim0jsrM

1 Vote

Cleveland, Ohio

All Forum Posts by: Scott Mac

Scott Mac has started 56 posts and replied 4957 times.

Post: Will Population Decline Affect Housing?

Post: I have never met a strong person with an easy past.

Post: Most Dangerous Cities In The World - Memphis, Baltimore, Detroit, Albuquerque, and

Post: Will Population Decline Affect Housing?

Post: Why Aren’t More Investors Building Instead of Buying?

Post: This is why I invested.

Post: Have you lost money in a real estate syndication?

Post: Putting $1M into Crypto

Post: This is why I invested.

Post: Cleveland Mayor Justin Bibb Lost the Browns & Legalized Theft