I was glad to see the rain again this morning which is causing our City to get really greened-up, but unfortunately, there are a whole heck of a lot of people who’re not keeping their lawns mowed. Even some of the commercial areas have gone un-mowed for weeks on end. I’m not sure whatever happened to the lawn-policing that used to take place every year, so perhaps that person retired and the job was eliminated due to all the more cost-cutting our City is doing with its budget due to the million plus dollars they’ve already handed over to Rachie and still having no “skin” of his in the game.
One of the politicians in our City mentioned how so many people did not know that the City of Mason City guaranteed the loan Rachie just recently took out on Southbridge Mall. Now let’s talk about guaranteeing a loan. First of all, in all my years of selling real estate, I’ve strongly encouraged relatives of buyers, not to co-sign or “guarantee” a loan for their manipulative children and grandchildren. What I do tell them, is to give them enough of a downpayment so they can get a loan on their own, and if they still can’t, their last resort would be to buy the home and sell it back to them on contract.
Co-signing and guaranteeing is only required from banks when the borrowers are financially weak, so if “Ya’ll” think Rachie going to get financing for a multi-million dollar hotel, then you must still believe in the Tooth Fairy, Santa Claus and Easter Bunny. What I’m the most in shock over, is our City Council members and Administrator allowing themselves to be duped in such a fashion. Now if Rachie’s loan for that Mall goes south, then I believe it’ll be the third time our City has bailed out Southbridge Mall since it was built. It’s reminiscent of the old saying, “Burn me once, shame on you, burn me twice, shame on me.”, which is exactly what’s happening.
While visiting with one of Mason City’s most intelligent people today, we ended up on the subject of financial accountability which most “salaried” people haven’t even a clue. I said to him, “There’s no doubt in my mind the reason you’ve been so successful these years, is because you knew every morning you crawled out of bed, you alone was the one steering the boat of your business, so if you failed, then everyone else suffered.” He agreed with me and then added, “The bulk of the people in government jobs have absolutely no incentive to do their best because they know they’re tenured and just biding their time until retirement when they can start drawing their pensions.” I’m sure there are many of you who can think of people you personally know who’d fit the description.
I had a showing over at 814 – 9th St. SE today which went well, but I’m not sure if the buyer has all the necessary ducks in a row to make that kind of a jump when buying a fixer-upper. In an attempt to ease the fears, I mentioned my having taken on far worse projects over the years, and they all turned out just fine. When seeing the interest rates now at five and a half percent, I’d say it’s rapidly approaching the time for our current active buyers to get something purchased before the rates climb any higher.
What concerned me the most today, was seeing our inflation having hit a level it’s not been since 1981, which comes as no surprise when finding the price of food, gas, and every other goods and service being offered, on a steady upward-climb. If my memory serves me, the last time we had gas prices so high, there were a whole heck of a lot of people selling their gas-guzzling cars and trucks, along with their motor homes. Just for example, a gentleman just told me yesterday that it now costs him around $140.00 to fill up the tank of his Ford F150. I don’t think I’m going to be complaining anymore about what I pay for a weekly fill-up.
Another concern I have, are all these pizza pubs, natural foods stores, specialty shops and even those restaurants in courtyard of the Mall which rely on everyone’s discretionary income to keep them in business when seeing how the purchasing power of the dollar has dropped due to price increases. Both of those pizza places that are going to be opening on N. Delaware, are going to be in competition over fewer patrons.
Now if many in our younger crowd continue to freely use their credit cards to pay for such discretionary purchases, they’ll find themselves sucked down a very dark financial hole after realizing they can’t make their normal monthly credit card payments. Just as I’m writing this, the memories of years gone by are coming to mind. Heaven help us if we start seeing all those bankruptcies and foreclosures getting published in the newspaper. My how history does repeat itself.
I had a short visit with the seller of a home that’s coming on the market, and happy to hear the work that’s needing to get done, was started this morning, so perhaps I’ll have a new listing to share with all of you sometime next week. I’m hoping to price it right, just so it gets sold right out of the gates because it’s one of those ever-popular mid-century ranches.
Unfortunately I had more time to read the news today, and not the least bit happy about what that opossum-faced Putin is injecting into the minds of his brainwashed Russian brethren. How can someone of his low-caliber even consider comparing himself to Peter the Great? Considering all his supposed metaphysical problems, I’d say he’s also suffering from megalomania. I know I’m sounding really wicked when saying, “The more I see Putin’s face, the more I’m convinced he bears a striking resemblance to a shaved opossum.” Ouch!
Tonight’s One-liner is: Social Medias are mediums of entertainment which permit millions of people to watch, listen and interact with others over non-productive subjects, and yet remain deeply lonesome.