Dan on Nostr: In an attempt to hedge inflation and make some investment returns, I owned ...
In an attempt to hedge inflation and make some investment returns, I owned apartments. I owned senior apartments because the older single adults were far better tenants for many reasons.
As tenants moved in, I explained to them that I would never raise their rent and that I would simply have to AJUST the rent to inflation every year. I explained that all costs would be inflated by the printing of money and, all I was trying to achieve was an even playing field.
During my time as a Landlord the "government" inflation rate was about 3%, but the real rate was about 7%. The tenants got the 3% increase in their rent. My costs increased 7%. The elderly tenants watched their other bills all rise 7%, as their standard of living decreased.
This whole sad experience is just another reason why I'm a huge fan of Bitcoin.
As tenants moved in, I explained to them that I would never raise their rent and that I would simply have to AJUST the rent to inflation every year. I explained that all costs would be inflated by the printing of money and, all I was trying to achieve was an even playing field.
During my time as a Landlord the "government" inflation rate was about 3%, but the real rate was about 7%. The tenants got the 3% increase in their rent. My costs increased 7%. The elderly tenants watched their other bills all rise 7%, as their standard of living decreased.
This whole sad experience is just another reason why I'm a huge fan of Bitcoin.