Insane article. Speculation that unrest will drive up demand for insurance (rather than resulting in abandoning areas with the demographic potential for "unrest") and that this hypothetical increase in demand will result in more profit - for a price taking industry.https://twitter.com/JDVance1/status/1374703492909121536 …
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Replying to @CovfefeAnon
Abandonment creates even better opportunities for the acquisition of durable assets in geographically favorable locations at rock bottom prices
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Replying to @jeremywreal
After all, look at all the fortunes made from buying up Detroit real estate after the riots and crime wave that followed. I'm sure any day now they'll take advantage of the geographic favorability of owning real estate on a natural Great Lakes port location.
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Replying to @CovfefeAnon
Been buying it up for years and prices in parts of the city are well above their historic lows. It's a long game.
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Replying to @jeremywreal
Step 1 - Burn down Detroit Step 2 - Buy up real estate Step 3 - wait 100 years Step 4 - take profits! Or you could have invested the funds in something that didn't take at least 100 years to pay off.
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Replying to @CovfefeAnon
Except you're also profiting from suburban land speculation at the same time step 1 takes place. Spatial fix.
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Replying to @jeremywreal
Give it up. Burning Detroit wasn't done for profit. Robocop wasn't a documentary. I can only imagine how much it must hurt to have to give up folk Marxism but you've been had.
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Replying to @CovfefeAnon
Lol It wasn't done for a profit, but it wasn't stopped because stopping it was politically difficult and allowing it to happen opened up other profit opportunities. Same as the BLM riots
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So far your "other profit opportunities" are "buy up Detroit real estate" that still hasn't paid off since 1968 - your reply to that was "they're playing a long game" but there have been innumerable investments that would have made investors immensely rich over that time-frame.
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Replying to @CovfefeAnon
My main profit opportunity was sell new suburban houses on mortgage to underinsured people fleeing the destruction. Cheap vacant land to regain lost value in decades is just gravy. I'd say it's part of a portfolio strategy.
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