Just Show Me A Sign
Kick me baby one more time
At least that is what I thought the words were. :) And an email just did that to my brain.
I love @jasoncalacanis. He has done a lot of great work in the tech community and is a vocal critic of idiocracy. Hence, the affection.
After getting Jason’s launch.co email the kick came.
Usually, there are announcements filled with this VC threw money at this app, this company mega-merged with that one….you get the picture.
Today, not so much. In fact the first three stories were about layoffs, failures and consolidation.
Notice below the names of the companies. At least one will be familiar to your grandmom.
Does this equate to a slight rip in favorite pair of great jeans? Trust me, stupid buying will continue for the near future simply because the supply is so far lower than demand. Demand can slip on a dime (2008, 911, etc.).
In my mind, I would suggest to buyers that they proceed with caution. Think about 5 years from now after something bad happens. Will you still be happy in this property to withstand the bad times?
Questions to ask yourself and/or a designated authority.
- Do I have a plan B?
- Can you rent the property long-term and/or short-term?
- Does the municipality the property is in have any restrictions on rentals?
- Is there someone that I know (friend or relative) that I could stand having live with me if they chipped in?
- Are there any ways to protect my equity? Yes, actually. I will be covering that in a future post after I get all the details and understand it thoroughly.
Keep this in the back of your mind, just like I will with this email. Make sure you have a Plan B for any home you buy!