The private real estate portfolio of the Church

[Calm]

19 minutes ago, Teancum said:

Your definition of wealth is not the way anyone that is involved in financial activity would define wealth.

Oh yeah, I know that.  Just rambling really there.  It is one of those weeks.  Appreciate you paying attention.   

Edited April 7, 2022 by Calm

[Tacenda]

I know this makes many happy on this board. https://www.sltrib.com/religion/2022/04/05/new-database-gives-widest/#:~:text=Even this partial portfolio would,of the nation's wealthiest families.

[LoudmouthMormon]

I just get happier and happier, the more I read up on this stuff.  Thanks, mormonleaks!  Sorry you came to an end, or whatever happened to y'all.

Edited April 24, 2022 by LoudmouthMormon

[bluebell]

Listening to the first chapter of Saints Vol. 3 and hearing about the church's dire financial problems in the early 1900s really makes you appreciate how far they've come.

[ksfisher]

37 minutes ago, bluebell said:

Listening to the first chapter of Saints Vol. 3 and hearing about the church's dire financial problems in the early 1900s really makes you appreciate how far they've come.

I wonder if we aren't in the 7 fat years right now.

[bluebell]

[Calm]

5 hours ago, bluebell said:

Is this for real or spoofed? (Laughing, not offended if either)

added: did something I never thought I would do and checked Musk’s Twitter profile.  Not seeing it for yesterday.  Did see this though.

Quote

Next I’m buying Coca-Cola to put the cocaine back in

 

Edited April 29, 2022 by Calm

[OGHoosier]

8 hours ago, ksfisher said:

I wonder if we aren't in the 7 fat years right now.

The odds, in my mind, are very high.

[Hamba Tuhan]

23 minutes ago, Calm said:

Is this for real or spoofed? (Laughing, not offended if either)

added: did something I never thought I would do and checked Musk’s Twitter profile.  Not seeing it for yesterday.  Did see this though.

Yeah, it's a fake.

[Calm]

4 minutes ago, Hamba Tuhan said:

Yeah, it's a fake.

Too bad.   

[mfbukowski]

11 hours ago, ksfisher said:

I wonder if we aren't in the 7 fat years right now.

All these fixers are buying stuff like crazy, and the market is about to turn. It'll be a bloodbath

Check out 1982 interest rates.

You won't believe it.  Those with cash for real estate owned the world.  Definitely not the time to buy

[mfbukowski]

On 4/7/2022 at 2:41 PM, Teancum said:

It is sort of in between. It is not a publicly traded corporation but it is not privately owned.  In fact nobody really owns it. Most are run and directed by a board.

Yes, been doing Charitable remainder trusts for years

Great way to get out of RE w/o capital gains.

Edited April 29, 2022 by mfbukowski

[Calm]

6 hours ago, mfbukowski said:

Definitely not the time to buy

Makes me feel better about not moving.

[CA Steve]

1 hour ago, Calm said:

Makes me feel better about not moving.

I recently moved. I loved it! Got rid of 15 years of junk! But in this kind of market I made sure I had my new house secured before I sold my existing.

[Calm]

37 minutes ago, CA Steve said:

I recently moved. I loved it! Got rid of 15 years of junk! But in this kind of market I made sure I had my new house secured before I sold my existing.

I am purging as if we were moving. As in do I want the kids to have to deal with this when we are gone. Hoping to break certain habits that are close to hoarding. 

[bluebell]

13 hours ago, Calm said:

Is this for real or spoofed? (Laughing, not offended if either)

added: did something I never thought I would do and checked Musk’s Twitter profile.  Not seeing it for yesterday.  Did see this though.

 

Probably just a spoof. I thought it was funny though. 😂

[mfbukowski]

2 hours ago, CA Steve said:

I recently moved. I loved it! Got rid of 15 years of junk! But in this kind of market I made sure I had my new house secured before I sold my existing.

The deal is you have to have a place to live, even if values plummet tomorrow, so it's not a bad move to buy at the top if that's the situation. The market will turn again and again, but you gotta have decent housing!

Rents are low now relative to price, and I have seen folks in other states paying 1500 for rent but a mortgage payment may be 900.  Of course there are other expenses, property tax etc, but you want to build equity.  We will never see interest rates like this again, so buying today even if the bottom falls out tomorrow is not a total mistake.

In 1980 the PRIME rate was 20- percent 

http://www.fedprimerate.com/wall_street_journal_prime_rate_history.htm

And we prayed it to get down to 10!  No one could buy or sell, so people were doing trades - "I'll give you my condo equity as a downpayment on your house and an IOU for the balance"

Price became irrelevant! It was  "Whatever the value of the condo, I"ll give you as a down pmt for whatever the value for the house because I now have 3 kids in my 1 bedroom condo"

We had exchange meetings where seasoned brokers were swapping a cabin in the mountains for a strip mall in another state... no cash to exchange! It was a crazy time that we could see again.

Gold WAS gold!   But you can't sleep on it!  Just too lumpy!

 

Edited April 29, 2022 by mfbukowski

[mfbukowski]

On 4/5/2022 at 3:27 PM, LoudmouthMormon said:

Dang - when they say "stop coming to Utah and build up Zion where you're standing", they really mean it.

 

And what is different, is that in states where no one has pioneer ancestors,  no one worries about pioneer Doctrine.

They actually like the church, or they leave and leave it alone.

No grudges for what great great grandpa said 150 years ago!

Edited April 29, 2022 by mfbukowski

[mfbukowski]

1 hour ago, bluebell said:

Probably just a spoof. I thought it was funny though. 😂

Indeed!

But today I bet you could sell polygamy for a pretty good price!  🤔😜

Now how do you copyright that again?

And I don't think that 1000 year leases will stand up in court..

What will be the price of real estate when the earth becomes a sea of glass?

Edited April 29, 2022 by mfbukowski