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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

FadeToBlack&Gold said:
Not just starter homes. Look closely at a new Pulte or DR Horton build if you ever get the chance. $800k gets you a bunch of sloppy caulking and hell knows whatever other corners cut.
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On YouTube, take a look at cyfyhomeinspections, an independent home inspector’s page out of Arizona. The shoddy work he’s finding on homes that seem to be $700k and up is shocking.

Also, there seems to be a lot of leaky natural gas hookups at the meters. I bet they’re included in 75% of his videos.
 
St. Clown said:
On YouTube, take a look at cyfyhomeinspections, an independent home inspector’s page out of Arizona. The shoddy work he’s finding on homes that seem to be $700k and up is shocking.

Also, there seems to be a lot of leaky natural gas hookups at the meters. I bet they’re included in 75% of his videos.
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Which is exactly why regulations exist in the first place.
 
St. Clown said:
On YouTube, take a look at cyfyhomeinspections, an independent home inspector’s page out of Arizona. The shoddy work he’s finding on homes that seem to be $700k and up is shocking.

Also, there seems to be a lot of leaky natural gas hookups at the meters. I bet they’re included in 75% of his videos.
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I have seen his stuff quite a bit. He gets a TON of flak from the Tik Tok trades people claiming the things he is saying are violations aren't actually violations (ignoring the fact that all states don't have the same standards and that defending shoddy work doesn't make you look good). But even if they aren't "technically" violations, its still VERY shoddy work for homes that cost that much. Hell its shoddy for homes that cost anything. There are more and more of these inspector videos and channels showing up on the socials and the stuff they are exposing is insane.
 
I'm going to ask a dumb question since I've never been within 10 miles of closing on my own home, lol.

What happens if the buyer brings in one of these guys and they find this stuff? Do the parties just split ways and the buyer moves on to the next property (with likely similar issues if building new)? It seems like there are no issues for the builder given how rampant these things have become. So it's a no-lose situation on their end as 15 other buyers are lined up to make an offer.
 
RaceBoarder said:
I'm going to ask a dumb question since I've never been within 10 miles of closing on my own home, lol.

What happens if the buyer brings in one of these guys and they find this stuff? Do the parties just split ways and the buyer moves on to the next property (with likely similar issues if building new)? It seems like there are no issues for the builder given how rampant these things have become. So it's a no-lose situation on their end as 15 other buyers are lined up to make an offer.
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Used to be you could negotiate to get things fixed, or lower the price. Now, most people buy without inspection at an inflated rate and then deal with whatever they find after the fact. It's a seller's market for sure.
 
FadeToBlack&Gold said:
Most home inspections are a joke. Never use the ones conveniently "recommended" by your builder and/or realtor.
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This is usually true unless the city you’re buying in has a lot of rules and regulations around this sort of thing. (Government protecting people whaaaaaaat?!)

The suburb I’m in is a real stickler. Commonly referred to as a great place to buy a house and a terrible one to sell in.
 
RaceBoarder said:
I'm going to ask a dumb question since I've never been within 10 miles of closing on my own home, lol.

What happens if the buyer brings in one of these guys and they find this stuff? Do the parties just split ways and the buyer moves on to the next property (with likely similar issues if building new)? It seems like there are no issues for the builder given how rampant these things have become. So it's a no-lose situation on their end as 15 other buyers are lined up to make an offer.
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Usually, you beat up the seller to either fix it or cut the price. I did the latter, because I knew the lazy MFer I bought my house from was an auto mechanic who thought he was handy and had DIY'd a bunch of work in the 30 years he'd owned it. I didn't want him "fixing" any of the issues, lol.

The house I bought was ultimately my 6th offer. The first five I was either outbid, or there was one where the seller was a flipper who was coy about electrical issues identified by my inspector, so I backed out.

I did get a very good price for the neighborhood though, which is good because it needed it a lot of work.
 
RaceBoarder said:
I'm going to ask a dumb question since I've never been within 10 miles of closing on my own home, lol.

What happens if the buyer brings in one of these guys and they find this stuff? Do the parties just split ways and the buyer moves on to the next property (with likely similar issues if building new)? It seems like there are no issues for the builder given how rampant these things have become. So it's a no-lose situation on their end as 15 other buyers are lined up to make an offer.
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In a normal market, they get fixed or you get money off (note to sellers, always just negotiate for a lower price; not worth it to try to fix things. Learned that the hard way).

Right now, sellers would just say take it or leave it because they probably can get a half dozen more offers.

You have more leverage if it's a new build and you're dealing with the actual builders.
 
Not new but a good summary.

The broader lesson investors should take away from this shift is that these are not passive decisions. They are active judgments about what deserves representation in "the market." Indexes are not static mirrors reflecting financial markets with perfect objectivity. They are constructed products governed by rules, committees, methodologies, assumptions and increasingly competitive business pressures.

Rules evolve, eligibility criteria change, rebalancing schedules shift and the IPO process gets revised. Every one of those choices influences portfolio exposures and investor outcomes. The coming generation of mega-IPOs may finally expose to the average investor the fiction embedded in the phrase "passive investing."

Owning an index fund does not eliminate active decision-making. It simply delegates those decisions to an index provider.
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Kepler said:
Not new but a good summary.
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Yes, but that delegation is because not everyone has the time, knowledge, desire, or capability to actively manage on their own. We should neither expect nor require Joe the Plumber to also be a financial analyst in order to receive a decent retirement.

Could I actively manage all of my investments in a relatively reasonable manner? Sure. Do i want to, especially in the near term when I need to rebalance all of the inheritance (shockingly, a 45 year old doesn't have the same risk profile as his elderly parents) while working 40 hours a week and raising a kid? No. I've provided a few ground rules but otherwise i don't want to deal with it.
 
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Looking to the Sx ipo again re enforces my opinion that investors don’t really understand business.

Sx is claiming multi trillion valuation, right? Somehow space mining and space data centers will make a lot of money?

But doesn’t everyone see that they will cost a LOT more than they can possibly bring in? It’s estimated that just going to mars and back will be over $1T. With the very basics of getting there and back. Adding mining equipment will probably increase the cost by at least and order of magnitude. Then the idea of space rock mining- more expensive than mars mining.

And all of that ignores that having an increase supply of a material will lower its market cost. A glut of gold just makes it so available that it’s not rare anymore. So this venture just spends a shit ton of money to lower the value of materials that we find here on earth. Bad idea.

And data centers in space? Are you kidding me? Billions are being spent here on earth to do this and you think going to space is better? Other than getting out of spaces nobody wants it, that makes the core problems of the centers worse. Harder cooling, where to get power, and communication speed. Let alone the astronomical cost of maintaining something like that in space.

If sx will spend 10x is valuation just to *try* to do any of that. It’s a scam that exposes so much of stocks are gambling without reality.
 
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