elgrecho13

[elgrecho13 @elgrecho13]

@ryanmouquegolf SWING

[elgrecho13 @elgrecho13]

@JoshCrumb @_riskFULL @abaxx_tech @abaxx_exchange @abaxx_labs BHP

[elgrecho13 @elgrecho13]

@_riskFULL BHP….

[m. stanfield @resetbasis]

Dinner with an exec/friend at a large national property management company tonight. This person oversees ~150k apartments; access to an insane amount of data.

Current multifamily market in most of the country is worse than S&L, .com bust, or the GFC. Worst they’ve seen.

Class A mostly fine, decent rent growth. However:
- credit scores at class A have gone down meaningfully over the past 3 years.
- more people are paying rent via credit card.
- average bank account balance noticeably lower than even 2 years ago
- class A tenants stretched thin, living beyond their means. 20k comes in, 20k goes out every month.
- starting to see these renters move down a tier

Class B:
- simply too many apartments, we built too much new stuff. Ripple effect is enormous.
- fewer renters tomorrow than today. Same store foot traffic noticeably down year over year. Some markets down 40-50%
- considering dropping rents below $700 a month on some 1beds in major southern markets.

Class C:
- looking at degrading NOI. Rents aren’t growing for a long time, but expenses keep creeping up
- more renters are one missed paycheck away from disaster than they can remember seeing in decades
- tenants aren’t paying rent because they simply don’t have it
- wage growth has not kept up

Lenders:
- some major investment funds, household names, haven’t paid their mortgages in 2-3 years. Banks won’t foreclose because “X is a big client.” Mexican standoff.
- a roof leak gets ignored, becomes water damage, then mold, then a down building. Buildings are rapidly deteriorating as some owners choose cash preservation over funding losses.
- number of pre-foreclosure and REO deals is the highest as a % of total units they can recall.
- data providers know it’s bad, but they’re paid to sell optimism to owners/lenders. So every forecast is “it will probably get a little better next year maybe” and that gets regurgitated at investment committees all over.

I asked “how do you think this ends?”

“Not sure. My gut says slowly then suddenly, and things will get really bad. Been doing this 40 years, you can feel it in the air. But, there’s a chance it’s just a decade of tolerable pain. I’m praying for that.”

[elgrecho13 @elgrecho13]

https://t.co/Rou9AWyhT1

Today I received my October Synergy Power bill for October 2026, and I was charged a credit card fee.

By is Synergy still charging its customers (presumably all of its customers) a credit card fee, when the Reserve Bank of Australia made this illegal?

[elgrecho13 @elgrecho13]

@PKsNYC Well done@PKsNYC… a well constructed article.

[elgrecho13 @elgrecho13]

@MacroVoices @ErikSTownsend @PatrickCeresna @TheMichaelEvery Fabulous 2 days … deep appreciation.

[elgrecho13 @elgrecho13]

@RaoulGMI @RaoulGMI have you considered or researched ABAXX Technologies and their 🆔 ++ Digital Title and instant settlement of transactions as part of your own story on tokens and blockchain?
Also, really appreciated your Everthing Code special class which I heard about from Darius Dale

[elgrecho13 @elgrecho13]

@GuyChase9 Thank you for your full explanation @Guy Chase. I also went in depth checking my broker’s website and established the same… that they need consent from me to use my shares for shorting purposes. A
Good exercise initiated by you. Appreciate your work.

[elgrecho13 @elgrecho13]

@GuyChase9 @Greenacres1000 @endurancetest How do we instruct our Broker not to offer our shares short?

[elgrecho13 @elgrecho13]

@kerrodgraygolf PLAN

[elgrecho13 @elgrecho13]

@thesherlockview Super work Sherlock. Excellent quality research.

[elgrecho13 @elgrecho13]

@annvandersteel Congrats to you Ann and MWF

[elgrecho13 @elgrecho13]

@JoshCrumb @abaxx_tech Here is the Bloomberg article via Grok - https://t.co/sNLsdFd0um

[elgrecho13 @elgrecho13]

@SBSSportau Mathew Keenan keeps pronouncing Danish rider Michael Walgren “Michael in English “ when he is pronounced “Mikael” in Danish… please Matt Keenan improve your commentary to reflect cultural correctness.

[elgrecho13 @elgrecho13]

@JoshCrumb @PKsNYC Go JC Go… super job.

[elgrecho13 @elgrecho13]

@PKsNYC Really excellent commentary @PKsNYC… measured and correct.

[elgrecho13 @elgrecho13]

@JosephTMetcalf @MacroVoices @ErikSTownsend @DariusDale42 @42Macro Latest numbers from Eurozone last night confirm your thoughts. Looking at unemployment numbers in Australia yesterday they are also growing.

[elgrecho13 @elgrecho13]

@kerrodgraygolf SPLASH

[elgrecho13 @elgrecho13]

@Greenacres1000 @abaxx_exchange @abaxx_tech @JoshCrumb @JoeRaia5 @robert_ivanhoe @Fidelity @BlackRock @NeilSimon579452 Welcome back from Africa @Greenacres1000