There will always be broke people, thus there will always be renters. 27.5 years is how long the tax code allows you to depreciate the building, not the land.

Believe nothing about China. It's the country that builds ghost cities to prop up the economy. Look up ghost cities on YouTube.

Yes, there will always be renters and in the future, there will be more renters than there are property owners.  In the interim though, I expect a lot of landlords to get stiffed on their rents.  Per Benjamin Roth's book, The Great Depression: A Diary, some landlords lost their property when they couldn't meet their mortgage obligations because of deadbeat tenants.  Tenants once ejected simply moved onto the next landlord to cheat.

BTW, if you're in a rent controlled area, it can take upwards to a year to eject a deadbeat tenant.  This is especially true in the two SF Bay Area Workers' Paradise of San Francisco and Berkeley.

Now, back to the other question of what to do (it was asked earlier), watch this Gregory Mannarino video:  https://www.youtube.com/watch?v=YuH2P_vmnIo#t=634.

If we reach deadbeatmageddon, I'll simply live in my rentals, and not pay anyone either.  There will be bigger issues to worry about, like where my next meal will come from.

Good luck evicting a deadbeat when TSHTF.  Better sleep with one eye open.

This could lead to Gubmint declaring cash illegal and forcing everyone to go to digital cash concept. Not good.

So much doom and gloom in this thread. Stop reading the doom and gloom stuff, or at least read the opposite material too.

So much doom and gloom in this thread. Stop reading the doom and gloom stuff, or at least read the opposite material too.

I won't be a landlord in a rent control place.  I know people in San Francisco who can be landlords, but refuse to because of the laws.

BTW, to the person who said not to dwell on the gloom 'n doom, the global economic reset is inevitable.  It's not about gloom 'n doom but for those of us who are liquid, opportunity.  If you are debt free and liquid, you can pick up a lot of hard assets cheap.  However, you can't pick it up too soon because if you do and it's real property, all you'll do is pay taxes on it and this can be a negative cash flow.

News update: Deustches Bank's balance sheet is not good.  Per se they're bankrupt.  Also, this Oct. IMF will have SDRs denominated in Yuan.

I work in finance for a multi-national big pharma.

The issues in China and Europe are real, and are starting to affect our N American operations, as we've been asked to pick up the slack. FX issues have been another factor. I just got pulled into an emergency meeting at 5:00pm this evening around this very subject.

As other's have mentioned, this will definitely create opportunities, but undoubtedly catch most off guard. Expect a stronger US dollar and resulting commodity price drops.  

Double post baby!

Can you elaborate on this, but in 10th grade English for those of us not as well versed in finance.

My wife thinks I act like a 10th grader. Does that count

It’s no secret that some of the phenomenal growth China has experienced over the last several years was fueled by government deficit spending. Just google “china ghost cities”. Both Japan and China have been devaluing their currencies in order to boost exports. But try as they may, the Japanese Yen has been getting stronger.

The company I work for is headquartered in Japan. So when they collect money from their overseas operation’s they want cash from countries with stronger currencies than their own, as they will translate into more of their own currency. This excludes both the falling Chinese Yuan and Euro. The strengthening Dollar then becomes even more attractive. This is why our N American operations are being asked for additional profit.

As economic turmoil increases in places like China and Europe expect people to pile into the US Dollar. Now since many commodities are priced in US dollars this will in effect lower their prices for US consumers.