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DalTxHornFan

Certifiably Surly
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Posts posted by DalTxHornFan

  1. I appreciate the reasoned responses to this topic.  Human history is brutal.  My family was privileged by receiving some of the original Texas land grants.  But we also lost land due to the havoc and corruption of Reconstruction in East Texas.  But that was more than 100 years ago.  We got over it.  My grandfather, with an 8th grade education and the wages that inured to a full-time Texas Company (now known as Texaco) refinery worker in Port Arthur, ended up buying in 1935 around 200 acres of land that our family had previously owned, for about $5 per acre.  No mineral rights, all the timber had been stripped, but he owned it.  Our family owns it now.  Time and timber growth can heal a lot of wounds.

  2. 2 minutes ago, Mrs Whiggins said:

    They did call it a riot. It was an effective way to push blame onto the residents of the charred 35 block area of Greenwood that had its residents shot, burned beyond recognition, rounded up and placed in camps after martial law was declared, and denied any insurance claims being paid out. One of the two (white) newspapers of the time was rather *tabloidy and ran some rather inflammatory stuff when the young black man was jailed.

    The President's recognition and naming it with the more recent term 'massacre' is apt. I watched most of his speech. Context is important because otherwise, you're going to get played.  Aren't you smarter than that?

     

     

    *The Tulsa Tribune grew more respectable over time and prior to dissolving had a decent investigative team. It's never been shown whether rumor or fact that the paper's owners in later years had specific copies destroyed. The microfilm at the Tulsa City County Library went missing.

    I first learned of this tragic event from some of my Tulsa lawyer clients in the mid 1990's.  Horrible and they were all very embarrassed that it had been hidden from view during their lives.  Mobs do bad things.  The results are inexcusable.

  3. 3 minutes ago, Hookah Horns said:

    Hmm not a bad idea. Convert either Clay or Kizer to a permanent camp. I bet you could shelter a few thousand homeless on all that land. Install the appropriate shelters, amenities and services out there and provide shuttles into town. And then strictly enforce the camping ordinance. Bam, solved. 

     

    Hancock golf course would be perfect.  Close to HEB (when its open), other retail, and lots of bus lines and such.

  4. Just now, mchookem said:

    it wasn't a gotdamn riot. you give yourself away. 

    Neither of us were there, but lots of historical references called it a "riot" -- I'm fine with massacre.  It was a tragic event.

    • Fuck You 2
  5. 9 minutes ago, SmokeyTheBear said:

    Did you vote last election? If so, for who? Who would you vote for in 2024 to do better than Biden, especially on addressing current race relations in this country? 

    I think that we'd be way better off without the efforts of the professional race agitators.  This country is far more just and nowhere near where it was 100 years ago.  The Tulsa riot was a tragedy, but it has almost nothing to do with where we are today in terms of race relations.  Some folks seem to want to play that angle for political gain.

    • Fuck You 2
  6. BIDEN: "...young black entrepreneurs are just as capable of succeeding given the chance as white entrepreneurs are, but they don't have lawyers, they don't have accountants..."

    IDK, it seems like his comments were a bit condescending to the Black business owners who have somehow managed to find legal counsel and accountants to help them run their businesses without the help of the the government.  

    • Hook 'Em 1
    • Fuck You 1
  7. 33 minutes ago, Gladeite said:

    I was a real estate appraiser in the 1980s.  Residential property values in Texas dropped around 40% from 1984ish to 1989ish.  Commercial valuations dropped even more, probably 50+%.  

    It was a brutal time.  In Houston, several large subdivisions had every single home foreclosed on.  People paid $100-120,000 for them new with all sorts of points, closing costs, etc..  included and minimal down payments.  Values went down to $60000+/- if in great shape, $40,000 if trashed.  Entire neighborhoods just walked away.  Our office did numerous condominium projects where every unit had been foreclosed on.  We did most of the Galveston condominiums that were financed by Gibraltar.  Every vacation unit owner walked away.

    In Austin, we did 1000s of NPC, Milburn, etc... tract home builders that had minimal down payments and lots of financing costs built in.

    In San Antonio, we did 1000s of Ray Ellison foreclosures.  Probably the largest declines overall.  His incredibly cheap quality builds deteriorated quickly and he built the most financing, furniture, pools, etc... into the price.  Very sad for a lot of families.  To pay $125,000 new and 4 years later be worth $50-60,000.

    The change of the tax code destroyed the commercial market.  Overnight, apartment projects were worth less than 1/2 of what they were.  Cap rates?  20-30% after the change in tax code and lack of financing.   Units traded less than $10,000/door.   It became impossible to sell a strip center.  No tenants and no financing.  Lenders were giving them away.  Fourplexes in Austin were renting for $500/unit and lenders could not sell them for $40,000.  Class A buildings were owned by the lenders and they became landlords since they could not sell them.  Vacancy rates were over 50% and rents were $0.50 to $1.50/ft.

    I remember it well.  On the other hand, I made coin and started a career in bankruptcy and financial investigation work dealing with all of the fallout.  Good times.

  8. 21 minutes ago, jimmyjazz said:

    I think the mid-80's bust was big.  Maybe not 20%, but I know it wiped out a bunch of people's equity.

    I had a new build SW Austin duplex that I bought in 1983 for $116,500.  When I tried to refinance my ridiculous 14.9% mortgage (remember inflation?) -- the appraisals came in at $65,000.  The Tax Reform Act of 1986 totally changed the dynamics of rental real estate basically overnight. 

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  9. 9 hours ago, BabaYaga said:

    Every rancher I've ever known has them near the top of their "shoot on sight" list.  Some young/dumb cow with a face full of quills is not a fun-filled afternoon (assuming you catch it before it goes septic and they die).

     

    Ditto.  Very odd animals that have no business being around livestock.

    • Hook 'Em 1
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