Michael Klein

Father, Partner, Real Estate Fund Manager, and Not for Profit Board Member. Opinions mine.

[Michael Klein @CRECapitalPro]

@MZHemingway DEI: Division, Exclusion, Indoctrination.

DEI is a scam.

[Michael Klein @CRECapitalPro]

@mikeroweworks Congratulations to the scholarship winners and to @mikeroweworks for the abilty to fundraise to make these scholarships happen.

[Michael Klein @CRECapitalPro]

@adamcarolla The building code today attempts to eliminate every possible risk no matter the cost or likelihood or outcome of an occurrence.

[Michael Klein @CRECapitalPro]

@greta @SouthwestAir My guess is not a single C suite executive has been in an airplane to see how ineffective and inefficient the new system is.

[Michael Klein @CRECapitalPro]

@SouthwestAir four segments in last ten days and half were incredibly aggravating. A List, Cardholder and Companion pass did not translate into a preferred treatment and resulted in carry on having to be placed four rows behind our assigned seats. This lack of process thoughtfulness leads to people having to move forward and back during the boarding and disembarking of the airplane. It not only slows the process, it turns your customers into baggage handlers that are passing 30 pound objects over the heads of others. Did a single C- Level executive witness or try beta testing this crazy system? I doubt it.

[Sean Davis @seanmdav]

Dear @SouthwestAir: Your new seating rules and boarding procedures are a DISASTER.

Boarding is chaos. Deboarding is even worse. Your new boarding order leads to front bins being filled by back seaters before longtime A-Listers even board. This leads to madness upon deboarding as people go against the flow of traffic to get the carry-ons they had to stash 20 rows behind them.

And because you no longer allow two bags to be checked for free, there are way more carry-ons, which only leads to longer boarding and deboarding times.

There’s simply no reason to fly Southwest anymore. You don’t have the lowest fares. Miles and status don’t matter because of how badly you dorked up boarding. And the service quality has gone waaaaay down, with fun and cheery flight attendants being replaced by nasty, bossy cranks with bad attitudes.

It doesn’t have to be this way. You used to be the best. You should go back to doing the things that made Southwest different and great.

[Michael Klein @CRECapitalPro]

Agree that policy needs to change. Let’s start with a building code that has incorporated so many risk mitigations - irrespective of the cost relative to frequency or severity of loss - that the cost of construction has far exceeded inflation over the past fifty years. Add to that, impact fees charged by municipalities that can easily reach $100,000 per unit. Finally, the cost and time to get entitlements to actually build are substantially (5x) in that same time span. All this makes supply limited, especially at the low end of the pricing spectrum. If we want to fix housing, we need to think critically about what is being done today vs. when housing was more attainable.

[Michael Klein @CRECapitalPro]

@ShannonJoyRadio When you owe your banker $100,000, you have a problem. When you owe your banker $1 billion, your banker has a problem. @PeterSchiff

[Michael Klein @CRECapitalPro]

@ianmSC He ignored a lot! Will we ever learn what his take was?

[Michael Klein @CRECapitalPro]

@FreightAlley Good. It seems most aviation publications have been rehashing the same stories for decades. I’ll give it a look!

[Michael Klein @CRECapitalPro]

@Nicoletta0602 @teachthemx3 Everybody gets a trophy. It’s been ingrained. Look at recent story about math preparedness of students entering UCSD. If you desire control of a society, make sure it isn’t well informed, educated or motivated.

[Michael Klein @CRECapitalPro]

@ShannonJoyRadio @RepThomasMassie Easy. Did it today and always

[Michael Klein @CRECapitalPro]

@WendyRogersAZ Looks as tight as an A-10!

[Michael Klein @CRECapitalPro]

@seandsweeney This is not an isolated incident. Also, many projects get post permit requirements added to obtain CofO. We have moved half our investing out of the State due to this uncertainty.

[Michael Klein @CRECapitalPro]

@DavidAsmanfox LA has been a problem for quite some time - at least a decade - people are finally noticing paying attention to the failing infrastructure, high taxes, and indicted and convicted officials.

[Michael Klein @CRECapitalPro]

A disaster. The most ridiculous aspect of healthcare is billing. Just had labs done. Insurance paid just 13.2% of the charges it approved and lab accepted that as payment in full, but I’m supposed to pay 100 cents on the dollar (the bill came three months after service). No other “professional” can get away with this practice.

[Michael Klein @CRECapitalPro]

Perhaps, but the data is limited to a time after substantial policy changes like down zoning all of L.A., the change from cities providing infrastructure vs. pay as you go impact fees, and a building code that tries to eliminate all risks no matter the expected value of the event or cost to mitigate. When I looked at the chart it started in about 2000, what would it have looked like from 1946-1999?

[Michael Klein @CRECapitalPro]

One of the straws that broke the camel’s back for me was learning in 2018 that only 70,000 tax payers in the entire state paid 40% of the income tax. Talk about vulnerable. Everyone talks about prop 13 like it’s great. Well, the rate, unless you have been I. Your house several decades is still about 4x that paid in we’ll run places like Scottsdale, Az or Franklin, Tn. The weather is hard to beat, however.

[Kevin Dalton @TheKevinDalton]

Gavin Newsom‘s fourth largest economy in the world ranks #1 in a lot of things…

- #1 in homelessness
- #1 in poverty
- #1 in Retail crime
- #1 in gas prices
- #1 in illiteracy
- #1 in wage stagnation
- #1 in frivolous lawsuits
- #3 in unemployment
- #2 in housing costs
- #2 in water bills
- #1 in restrictions on workers
- #1 in Anti-business regulations
- #3 in energy/electricity costs
- #3 in inequality
- #1 in income tax
- #1 in gas tax
- #1 in budget deficit
- #2 in educational inequity
- #1 in COVID school shutdowns
- #1 in COVID business shutdowns
- #1 in COVID mandates
- #1 in illegal border crossings
- #1 in funding for illegal immigrants
- #1 in People leaving state

[Michael Klein @CRECapitalPro]

We are at the be careful what you wish for stage. If long rates fall a fair amount it would likely be because of a weak(er) economy. A weak economy does not help the real estate sector. The challenge is to get weaned off negative real interest rates and to hope the Fed can get rates to neutral (now restrictive) is short order. That said, I recall studies showing that the Fed’s long term track record of getting rates in the sweet spot over the last four decades or so is somewhat below 50%

[Michael Klein @CRECapitalPro]

@JenniferSey @jimmykimmel @ClayTravis The odds say, not going to happen. However, I would love to be surprised. Keep calling him out.