Bubble-Palooza Coming To LA
The LA Times is reporting on a "real estate expo less like a hard-nosed business event than a Gen-X and boomer-friendly rave."
"'It's a mega-event,' added Bill Zanker, president of the Learning Annex. 'L.A. is responding like wild. Everybody in L.A. is talking about real estate. It's the new aphrodisiac..the new type of rock concert.'"
"The New York-based company (is) famous for its workshops and classes such as cardio striptease and tarot card reading."
If you listen to what they are calling the "classes", it's safe to say attendees can leave the calculator at home. "The Lazy Way to Create Real Estate Wealth, How to 'Quick Turn' Real Estate in Los Angeles With No Money, Credit or Risk, and How to Get Free Money From the Government for Real Estate."
6 Comments:
Remember all the "seminars" that used to go on at the big hotels around town on how to day trade stocks, ect. Gee, why don't they hold those anymore?
The U.S. is depending more than ever on foreign money to sustain growth.What the U.S. needs is a truly politically independent central banker.
Greenspeak is clearly an actor and the biggest political hacks.
I've always felt "The Donald" was a con artist. His latest TV show puts the final nail in his coffin, and this RE conference will hopefully bury him.
But, my wife loves the guy's show and thinks his a smart business man. I've told her about his failures, but she just points out that he's making lots of money, so does that not prove he's successful.
Correct term for Donald is "taking money," not "making money."
That's all this RE bubble has been. More wealth transfer, but not wealth creation.
Although we see statistics indicating that renting is much cheaper than buying in Los Angeles, I was shocked at what I saw take place on my street over the past couple months.
Earlier this year, a 2 bed/2 bath detached home on my street sold for $650,000. Now, two months later, the same house is on the market - for rent - for a paltry $1900 a month. Goodness knows what the mortage is, but it's certainly more than $1900 a month!
If real estate is the new aphrodisiac... do they plan to hand out 'financial condoms' at the door?
Donald Trump:
YOU'RE FIRED!!
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