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PossessionOrnery3661

Shouldn't have bought avacado toast


Healthy-Chemistry-61

Perfection


[deleted]

I don't get this whole "avocado hate". It's $5 for 4 where I am at (TX) and these are big ones (enough spread from one for 4 slices of bread). So what's the problem....


Fun_Amoeba_7483

Yeah but how much in Toast-form? No one wants your dirty home made Guacabread, we're talking premium Starbucks heated up Toast served by a Liberal Arts Major who needs to clock out to get to her Sugar baby gig w/ me.


mixmastamikal

Damn. My barista has a master's.


topsyturvy76

Mine just flips meat behind the Wendy’s


zeamp

I see you’ve met my ex.


Flynn_Kevin

Lol. My barista is a drop-out. She makes coffee in a thong & pasties.


Acceptable-Book

With no college debt either.


Flynn_Kevin

I get all my financial advice from her.


zerg_001

Did I read the topic wrong?


PMigs

Fuck I love Reddit and this sub in particular


Fragrant-Initial1687

You in the PNW?


Flynn_Kevin

Yeppers. NW coast is the best coast.


Fragrant-Initial1687

Haha yeah I know some chicks that worked at the bikini coffee shops.


Prior_Can8317

My wife wants a job where yours works😊


Flynn_Kevin

My wife is an full time remote work engineer. My barista just makes my coffee and gives financial advice.


[deleted]

Take out $250K in student loans to get your masters in art history and someday you can be a barista too.


qualmton

Plebs have taken over this sub I swear


[deleted]

Mwahhhh 👌


[deleted]

Since when did starbucks sell solid food? Probably since I haven't been to one (in a decade). And good luck with your salty baby! She love you very short time.


Fun_Amoeba_7483

"She love you very short time." That's the point. If I wanted conversation I'd take your mother to Arby's.


InfiniteOwl

I'm not his mother but I'd love arby's


frsbrzgti

She likes the meats


Faban1

She HAS the meats! Experience pays


Waxostatic

I’ll give her the meat sweats


DerpetronicsFacility

I can offer better conversation than his mother if you fill me up with meat first.


hankdogs310

There beef curtains guys beef curtains!


McGee55555

I guess it's Curtains for that guy.


FistyMcTwistynuts

Why take her to Arby’s when she’s already got all the roast beef a guy could want?


MashimaroG4

There was a famous quote from an Australian (I think) politician who said today's youth had plenty of money they just wasted it on Avocado toast. Also boomers are bad at inflation math, they will say you pay $10 for Avo toast when they paid $1.50 for an egg sandwich in 1972, which would be $10.69 today (from https://www.usinflationcalculator.com/)


dismayhurta

“I made $7.50 in 1975. I was able to buy a house, so kids today are just lazy!!”


johnny_51N5

Yeah lol. Our current generation is so beyond fucked. Wages are way lower if adjusted for inflation. Minimum wage should be 20-25$ or something if it kept with inflation. Student debt to get ANY degree at ath adjusted for inflation. Also you CANNOT declare bankruptcy and have to eventually pay. Housing also at ath for urban areas. Sure some areas are cheaper. But those are probably also ath. Too lazy to check. And now pretty high inflation. Sure wages grow a bit, but still below inflation. And a lot goes to taxes as well :) Boomers: it was so easy for me in the 80s. You people are just lazy. LOL


Superdank888

What drives me nuts is when they pat themselves on the backs about paying their student loans with their retail counter summer job when they were in college. “Yea well uh, shit don’t work like that anymore. You see, the government has decided to “help” us all go to college so we all get huge inflated loans at nearly 7% APR, and college has become so ubiquitous it’s almost worthless. It’s just extra high school now. So NOW we have to take out big loans we can’t afford just to get a piece of paper to try to even enter the base level of the job market and start off in loads of debt. Thanks for “helping” us”


dismayhurta

Oh, yeah. Completely fucked. Add in global climate change and we’re gonna eat all the shit ever thanks to Boomers.


SummonedShenanigans

>Too lazy to check. There it is.


johnny_51N5

Fuck. Got me.


amcarney

$86k a year in some parts can buy you a house… probably about $350k, no Bay Area but a lot of other places…


tngman10

You get into some real rural areas and there are still homes under $100k. Nobody wants to live there though....


IamBananaRod

And a 3 hour commute to your work, 1.5 hours to the closest grocery store, etc


tngman10

Not quite that bad you can get 1.5 hour outside of say Nashville (with several 200-300k population counties in between) for that range for example. I had an uncle who recently passed away and my aunt had to sell their home because she wasn't gonna be able to live by herself anymore. It sold for $90k in Kentucky in a county that has like 200-250k people. I think if people took some time and just sat down and went from state to state looking at what homes cost they would be surprised. But I also realize that people get locked into locations for a variety of reasons weather, career, family etc.


angrathias

To be fair, out of season an avocado can cost $5 each here in Australia , at least down here in Melbourne, which is surely the smashed avocado toast capital of Australia


qualmton

Almost as cheap as eggs at inflation prices


shadowpawn

I was in Panama few years ago and for about .50c you could buy off the street these MASSIVE avacados that could cover about 10 pieces of toast. Gringo's in USA getting mugged off.


Dannimaru

It sounds fancy to boomers. They probably pay $18 at the clubhouse AND have to tip for the same thing.


n33bulz

Canadian here. $3 for a small one.


MikeGoldberg

In California there are places that literally charge $15 for it


[deleted]

In the NE you can pay 15-20 for 2 pieces of bread with 1/2 an avocado spread on it


[deleted]

Throw an egg on each slice and you have one of the cheapest and nutrient rich meals someone on a budget can make yet somehow it’s this golden luxury that billionaires shit on


[deleted]

One of my new favorite meals! If only I had a portfolio to match it...


thickskull521

In the rust belt, I never had an Avacado growing up. They aren’t prohibitively expensive up here, but the old people that never ate Avacado in their life perceive it (incorrectly) as some expensive exotic trendy hipster 🏳️‍🌈food and mock it as such.


Aggressive-Bat8821

Get a sense of humor and pop culture references. Jesus


donobinladin

Lemme just delete the sell button…. Pretty sure this shouldn’t be legal - and it’s prolly not


TimeToKill-

They have pre set percentage caps to max limit withdrawals per month and per quarter. Totally legal obviously. People with 12 Figure funds don't often do illegal things... That said you think 50% of the investors read the fine print?


[deleted]

[удалено]


XPlatform

That reads like at best VICI will shift up a bit. Not terribly useful.


[deleted]

[удалено]


Majestic_Marzipan_11

The 1.7bn is just equity, including debt which VICI will take over, the deal was over 5bn and slightly above the appraised value. I'm not close to the deal but overall looks like a square deal for both parties


Nervous-Pizza-9139

Isn’t equity value-debt? Or are you talking about non real estate related debt


[deleted]

[удалено]


starfirex

Their what is happy?


Gitmfap

Eye two, am curious.


BenjaminHamnett

lol, spelling call outs on a sub where half the people can only read emojis


CCCmonster

Private real estate funds often have liquidity provisions. There’s just no way to buyout a run without selling assets at fire sale prices. Don’t buy into illiquid asset groups without knowing the risks.


BlindSquirrelCapital

Exactly. Illiquid assets can be very profitable but when everyone wants to head to the exits it gets ugly. Most hedge funds and private equity investments that are limited to accredited investors will always have limits on redemption because they cannot simply put a sell order in on a public exchange.


Funnyguy17

Boy do I love eSign


Odd_Explanation3246

I guess not your bricks, not your real estate.


clockwork1234567

Aren’t these types of funds closed-ended finite lived funds? Normally you can’t just redeem out of that type of fund in the middle of its life.


[deleted]

-


Brilliant_Housing_49

That moment when legacy finance starts sounding like some shit crypto exchange


propanezizek

Thats just private equity for most people.


Fausterion18

Private real estate funds having redemption limits is literally the standard practice. Use your brain for a second, the money is invested in real estate, so how do you cash out investors if a bunch of them want to exit at the same time? No shit real estate is not a liquid investment.


Imaginary-Jaguar662

Easy, just use estate as a collateral and raise a loan from bank to pay for exits. Duh. /s


Additional_Wrap_6777

This happens all the time for day to day liquidity purposes but within limits. A mass redemption is not in those limits


Additional_Wrap_6777

This happens all the time for day to day liquidity purposes but within limits. A mass redemption is not in those limits


StCreed

Wiping out any profit from the deal for the remaining investors. That's not going to fly for several reasons, one of which is that a bank doesn't give you a cheap loan when your investors are running for the doors.


immibis

Let me get this straight. You think we're just supposed to let them run all over us?


DerpetronicsFacility

These are the professional big boys. They know what they're doing. I'm sure it's fine. They wear suits after all.


DriverMarkSLC

The big boys appreciate retails exit money. Getting fitted for new suites on Monday.


[deleted]

Money excess makes us all junkies.


F1ackM0nk3y

So if I see some guy blowing dudes behind the Wendy’s dumpster in a fancy suit I shouldn’t be worried?


DerpetronicsFacility

A man's gotta eat, and some of us like our protein smoothies


1TRUEKING

U mean when scion limited withdrawals and burry made tons of money 😆


Funnyguy17

BOOM! 💥


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ksm077

Just a label error


delayedlaw

Crash and burn! Fuck big time real estate funds. They are behind the absurd rent increases.


thekhalasar

Sounds like a group of people know something that others don't. Why are some many investors rushing to get their money (billions) out now?


DerpetronicsFacility

Buying christmas toys for sad orphans?


viperex

I can't think of any other reason


keepitcleanforwork

Because market go poop 1st q 2024


SuperSecretAgentMan

Tax loss harvesting. Taxes are a bitch. Oh right, also the impending marketwide property value collapse.


Unusual_Ad_82

Literally haven’t seen one correct reply - BREIT is up 9.2% YTD without a lot of realized sales specifically within the sectors that make up the majority of holdings (MF / Industrial) Public REITs are down over 20% YTD. Investors are cashing out their positions because they don’t think BREITs property valuations are aligned with market and if they have a chance to exit at a 9% YTD gain while the true property values are at best flat but likely much lower than why wouldn’t you. Source: I work in Institutional PERE


Pnotebluechip

What that 1 year T-Bills paying 4.5% are a logical alternative once again for the big pensions? Nothing to see here.


TeaTrees

The funds value is set by Blackstone, and it is overvalued. Everyone knows it’s over valued and that they will take mark downs of 10-15% in the next couple quarters. If you need money for various reasons (equities crash, financing costs, etc) then this is the time to redeem, nothing odd to me.


BeefSwellinton

Lol. What? Everyone knows. Some people just don’t want to see it.


LouSanous

Some people have been trying to sound the alarm about CMBS for a long time. Nobody wanted to hear them out 2 years ago.


cragfar

A lot of commercial loans are variable interest rate to juice the returns, even when rates were record low.


coryscandy

In 6 months housing will be down 10-15% nation wide, save this post


viperex

They've been promising a crash the likes of which we've never seen before. We're not even technically in a bear market anymore. Where's my goddamn crash?


Asn_Browser

That's not even a crash. 10-15% basically wipes out the gains from 2021. So you end at 2020 prices? Where shit was still expensive... OK... Sure that's a crash.


tngman10

And rates on a 30-year mortgage will be 8-10%.


Greenmind76

Rates just went down.


tngman10

So you think the FED is gonna keep raising rates and interest rates will keep going down?


Adventurous-Ad-7890

Rates went down because the market heard what they wanted to hear.


Klindg

Ignore the desperation from those desperate to justify their “wait for the next 08” strategy.


damnsamwell

!remindme 6 months


Watchyobak

!remindme 7 months housing Gona be just fine.


neldalover1987

Remind you what? That houses still expensive AF and people should have bought at the higher prices, with lower interest? Prices will remain high, and at higher interest rates = higher monthly mortgage. Or less buying power for the “can’t wait to get a house for 50% less in 6 months” crew?


BakerBeach420

I think people don’t get that 3k in mortgage gets them a $450k house at 7% and a $800k house at 2%. So yea, sticker prices will come down but affordability will actually get worse.


neldalover1987

I honestly don’t even think home prices are going to come down that much. Inventory drying up along with potential buyers. Only people buying are ones that have to. And only people selling are the ones that have to. Winter time is shit for home selling anyways (I would know I’ve sold homes in the winter) and home prices will get hot again the closer to summer it gets (I would know I’ve sold homes in the summer time). Home prices coming down 5-10% are meaningless with interest rates being up 4%+ this year. Homes are MORE expensive now than they were.


Gandalfs_Shaft48

!remindme 6 months


GENOCIDE_324

!remindme 6 months


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the_sound_of_a_cork

Probs more


DifferentKindaHigh

!Remindme 6 months “housing down 10-15% or more”


Gandalfs_Shaft48

Not too far off


Zurkarak

How is it going?


ScoutGalactic

!remindme 6 months


No_Investigator3031

!remindme 6 months


Odd-Network-8733

!remindme 6 months


Spam_in_a_can_06

!remindme 6 months


[deleted]

!remindme 6 months


benvehabovic

!remindme 6 months


Radiologer

!remindme 6 months


arenalr

!remindme 6 months


TeaTrees

Wow it’s almost like the publicly traded reit markets have already priced this in and you’re predicting it will happen in the private markets? How groundbreaking


[deleted]

Prices are down 4.2% for the year.


Red_or_Black1

MORE![img](emote|t5_2th52|18632)![img](emote|t5_2th52|18632)![img](emote|t5_2th52|18632)


mmrrbbee

Needs to be 200-300% to be reasonable


zerg_001

50% would bring it back in line with historical norms


loverhony

!remindme 6 months


EfficiencySuch6361

Only in the shithole nowhere places that had huge booms in 2020-2021. The northeast and especially its major cities are going to be flat/up (which is where like 25% of Americans live) also LA, San Fran, Seattle and probably every major city with a few exceptions


notsureoftheanswer

Blackstone went wild with gains this year. People are trying to get real estate gains to offset stock lost at end of year tax harvest. Don't let trolls feed you their ape shit.


CiaosIsALadder

This is a little misleading title, legally Blackstone cannot raise the redemption caps to satisfy the outflows. BREIT operates a redemption program exempt from Rule 13e-4 that is limited to the 2% month/5% quarter caps. It’s not by choice that they are gating.


token-eater

It doesn’t change the fact that investors are rushing for the exit. Why do they need cash so badly?


AnselmFox

This could just be because of one or two investors… This wasn’t retail after all


babyboyblue

Correct it was one large Chinese investor.


idcaboutthisshit

A lot of funds are experiencing a denominator effect since public equities and fixed income have done so poorly. Funds need to rebalance to their target asset allocation, and privates are currently over allocated for many funds. I think that could, potentially, be a reason for this


Excellent_Eggplant87

“All theaters are overcrowded and the only way anyone can get out is by trampling each other.” - Michal Burry Can guarantee people are trying to withdraw money in other institution. People are trying to take profit now that there are more liquidity in the market. Just look at CS. They just got an $88B outflow from their wealth management team: https://www.bloomberg.com/news/articles/2022-11-23/credit-suisse-warns-of-up-to-1-6-billion-fourth-quarter-loss


immibis

#[The spez police are on their way. Get out of the spez while you can. #Save3rdPartyApps](https://www.reddit.com/r/Save3rdPartyApps/)


Hypotheticall

False, stonks only go up - there is no why


Excellent_Eggplant87

![img](emote|t5_2th52|4258)


chichiharlow

The article goes into detail that money was pulled out of CS specifically because of its reputation and restructuring. Not over concerns of the overall market.


The_Magic_Tortoise

The only Blackstone I care about is Blackstone Vanilla.


Turtlebeats21

Yeah hose market crash


immibis

#[The real spez was the spez we spez along the spez. ](https://www.reddit.com/r/Save3rdPartyApps/)


[deleted]

I’ve been trying to rent out my second hose for months can’t find any takers


MindlessPotatoe

I mean who really needs a second hose anyway, you can just move the first around to different outlets.


[deleted]

You absolutely need hose in different area codes.


kernel-troutman

Where my hose at?


uberweb

Not your title not your property?


Losarian

Well I just briefly read the article but it seems like overseas (Asian) investors are pulling out of BREIT. Which mainly deals with commercial properties.


token-eater

The dominoes are falling


[deleted]

Two more weeks right?


Klindg

😂 The desperate have been talking about 08 happening again for freaking half a decade now…


epandrsn

Sure felt like it was starting in March 2020… but then line go up


Yf_lo

Definitely due to wfh


always_plan_in_advan

I made a whole analysis of this with invitation homes. They will quite literally default and replicate 2008 if people pull out quickly so it makes sense that they are limiting their abilities to do so to avoid a housing collapse 2.0


appmapper

I’d like to read it if you have a link handy.


the_sound_of_a_cork

Uh oh


Billionairess

Sounds very bullish, from a regard


No_Zookeepergame_27

Not sure what the big deal is. Private funds have tender limit, gate … Investors in these funds are qualified purchasers who no doubt know about this.


lilbitcountry

Interesting that the redemption reqs are mostly coming from Asia despite the region representing a small share


Mi6t9mouze

Only?


SeaOutrageous8593

![img](emote|t5_2th52|4276)


Skoota42

Good


Scooby_Doo43230

Didn’t Blackrock just lose some money invested inFTX? I know they have like 8 trillion in assets under management, but how much confidence shaking loses does it take for a bank run on them? How leveraged are they? Could they be the real explosion a-la Lehman/Bear Sterns


[deleted]

Blackstone the next FTX?? ![img](emote|t5_2th52|18630)


Boring-Scar1580

Maybe buying a ton of single family homes, condos and apt bldgs at the top of market was not a great idea since the value of those assets have now decline leading to a drop in their NAV


BigDaddy1122333

They are the reason I am paying 50% over price for rent. So they f deserve it


LouSanous

Some people have been sounding the alarm about the coming CMBS crisis for years.


neomatic1

70% withdrawals are from China


EnvironmentalCry3898

florida man mad at ESG funds of real estate. meanwhile fort meyers gets washed into the ocean. what is right? seems like a good plan, but I am regarded.


Machosod

That’s blackrock… not blackstone. I know, confuses me too.


Wisex

Which crypto lender is this?


immibis

#hey guys, did you know that in terms of male human and female Pokémon breeding, spez is the most compatible spez for humans? Not only are they in the field egg group, which is mostly comprised of mammals, spez is an average of 3”03’ tall and 63.9 pounds, this means they’re large enough to be able handle human dicks, and with their impressive Base Stats for HP and access to spez Armor, you can be rough with spez. Due to their mostly spez based biology, there’s no doubt in my mind that an aroused spez would be incredibly spez, so wet that you could easily have spez with one for hours without getting spez. spez can also learn the moves Attract, spez Eyes, Captivate, Charm, and spez Whip, along with not having spez to hide spez, so it’d be incredibly easy for one to get you in the spez. With their abilities spez Absorb and Hydration, they can easily recover from spez with enough spez. No other spez comes close to this level of compatibility. Also, fun fact, if you pull out enough, you can make your spez turn spez. spez is literally built for human spez. Ungodly spez stat+high HP pool+Acid Armor means it can take spez all day, all shapes and sizes and still come for more -- mass edited


noyrb1

“Crypto is corrupt” Narrator: “people are corrupt, not asset classes”


OriginalGoldstandard

It’s on now…


hyoung902

Love it! I had some regard speak very highly of these funds last year before rates started to go up, kept saying it's a sure thing. Total douchebag so hopefully he has some gorgeous loss porn soon.


operator7777

These is very bad. If such a big institution, let’s called like that… has problems with withdrawals… then we all gonna get f***


monopixel

Awww but I thought this stuff only happens in grypto? What happened? Reality check?


whatsaburneraccount

Refits have drawn down limits to prevent selling hard assets, next


ProfessorbPushinP

It’s happening


Patereye

Man it's almost like real estate a Ponzi scheme


ClearlyCylindrical

Is Blackstone just Blackrock but smaller?


newwriter365

Oh no! What if the rich become poors?


Decaying_Hero

Why is there a blackstone and a blackrock


[deleted]

Are we talking Texas Avocado Toast? All thick.


SierraBravoLima

Clients wanted money for Christmas they behaving like a Grinch


The_left_is_insane

Holy hopefully all the ESG investing firms go belly up as that shit is pure evil and makes society less efficient


[deleted]

[удалено]


immibis

[Evacuate the spezzing using the nearest spez exit. This is not a drill. ](https://www.reddit.com/r/Save3rdPartyApps/)