HA!!!.....
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Let them all ride scooters - crash in a pothole - go to hospital.
Now that's a great look for Detroit !!! A crowd of bandaged politicians.
Infrastructure realism in the most eye opening manner [[literally). Blood.
Of course they'll be looking UP at our skyscraper skyline everywhere.
They didn't take initiative just took advantage of being able to make 100k on the assembly line with a high school diploma or less, then took advantage of a house being worth 20 times the amount is was worth 35 years ago, then took advantage of the stock market being worth 30 times it was 35 years ago then when that gig was up they had the market bailed out so they could cash out. Really the younger generation has not had a chance to build anything because the boomers won't let them until they cash out and die.
We should have hosted the DNC. why the hell did Milwaukee get it? Michigan is much more important than Wisconsin. I feel like voting red just to spite them.
So how did that older generation acquire wealth?
You posted it,buying a house,investments in stocks etc. and waiting the 30 years to appreciate.
In Detroit a younger person making not much money could buy a duplex in a scetchy part of town reasonably,rent out half to pay the note and buy another every three years.
When the whole bankruptcy thing was going on somebody posted asking where the next best place in the city was to purchase real estate,I replied it does not matter,the dirt has the value.
This thread proves it,winning the lottery is fast cash,acquireing wealth is long term if you do not start with it.Most generally it is through real estate appreciation.
But you cannot look at it as 30 years ago somebody paid X amount of dollars for a house and now sold it for X amount of dollars and made a ton of money,it cost them the price of the house plus 30 years interest payments.
A live in house is kinda like a 401k,you just have to keep cleaning and maintaining it.
The only difference is they purchased verses renting for 30 years.
The young not having opportunities I would differ with,when I was young there were no opertuinities either,I had to create them and maybe it is a local thing but where I am at there are plenty of young folk buying $450,000 starter homes,driving brand new cars,riding $1000 bicycles,starting businesses.
They are buying houses for $150k tearing them down and building $450k we are at $135-$165 per sqft new build.
We were getting $165 per sqft remolding during the last peak.
They do not need the boomers money,they seem to be doing just fine at finding or creating thier own opportunities.
Just as there are plenty of young folk asking when it is thier turn,it is no different now then it was for generations past.
But that’s what you do,spend money on appreciating assets,a sexy new BMW you cannot live in and 30 years down the road it will have no value,yes okay it was hard to guess in Detroit but Detroit is no different then every other city,it was just a little slower out of the gate,which is an advantage.
I remember the 70s recession,80s recession,90s recession,2000s recession,they were all the same.the cycle is the same,economy rises to the point where it cannot substain prices so it crashes to correct and starts all over again.
Save your money and buy cash when it crashes and sell when it comes back,or buy cheap at the crash then buy more at the next crash.
Yes, there’s lots of crotchety old white men who fled Detroit. There are also a lot of crotchety old Africa Americans who left too. When the city is burning down around you, crime is out of control, some city services are non existent and the city schools are horrendous, I wouldn’t pin the blame on anybody leaving.
Here are some ideas although they don't explain why Milwaukee's criteria was very different than Detroit's.
Why the Democrats Chose Milwaukee
It’s not about socialism. It’s about showing Wisconsin they care. -the Atlantic
Milwaukee's The One For Democrats -NPR
How Milwaukee talked the Democrats into bringing the 2020 national convention to the city -Milwaukee Journal Sentinal
Milwaukee also presents an opportunity to feign that Democrats support baskets of deplor....I mean American workers, is close to Chicago and O'Hare, has a lot of taverns, and beer. Milwaukee is the most segregated city in the country. We'll get to see how Democrats deal with that.